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Bloomberg The Biden administration is engaging with China in an effort to win approval for Boeing Co’s 737 Max planes, which remain banned in the country even as other jurisdictions have reauthorised it following crashes. “We’re absolutely working on it,” Commerce Secretary Gina Raimondo said in an interview on Tuesday with Bloomberg Television’s David Westin. “China’s a big market, and …

Bloomberg Saudi Arabia’s equities index extended a winning streak to five sessions on Sunday, following another positive week for crude prices. The Tadawul All Share Index climbed 0.9%, with gauges in Bahrain, Oman, Kuwait, Qatar and Israel also rising. The index in Dubai finished little changed while and Egypt’s EGX 30 declined 0.9%. Oil, the main export for Gulf countries, …

Bloomberg Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency (IEA) predicted, urging Opec and its allies to keep markets balanced by tapping their plentiful spare production capacity. World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the …

Bloomberg Group of Seven (G7) leaders debated how strongly to respond to China’s effort to win influence around the world and rebuke it over alleged forced labour practices — with US President Joe Biden taking a more hawkish stance and some other leaders wary of the risk the group is seen as an outright anti-China bloc. Saturday’s talks at the …

Bloomberg President Joe Biden’s blueprint for the US semiconductor industry marks an ambitious effort to set industrial policy for a critical sector of the economy, but the strategy will need more money and global support to take back chip supremacy and preempt a rival effort from China. The White House outlined a sweeping plan to secure the conduits for critical …

Bloomberg Oil slipped after touching $70 a barrel in New York for the first time since October 2018 as a rally driven by signs of a tightening market eased. Futures jumped 5% last week but were unable to rise beyond $70 on Monday. Europe’s cities are as congested as they were in 2019, and the number of passengers passing through …

Bloomberg Saudi Aramco, the world’s biggest energy company, hired advisers including Citigroup Inc and Goldman Sachs Group Inc for its first dollar-denominated Islamic bond sale. The state-controlled company may offer three tranches of notes due in three, five and 10 years, according to a person familiar with the matter. The firm is raising cash to help fund its commitment to …

Bloomberg The trade relationship between the two largest economies in the world has “significant imbalance” and the Biden administration is committed to leveling it, according to the US trade representative. “There are parts of this trade relationship that are unhealthy and have over time been damaging in some very important ways to the US economy,” Trade Representative Katherine Tai told …

Bloomberg India last month collected 1.03 trillion rupees ($14 billion) under the goods and services tax, lower than a record mop-up of 1.41 trillion rupees in April, as key cities remained under strict curbs to check the spread of new coronavirus infections. Revenue collection was 27% lower than April but remained above a trillion rupees for the eighth month in …

Bloomberg Oil extended gains amid signs of a recovery in demand in parts of the western world, and after Opec+ provided an upbeat assessment of the market’s outlook. Futures in New York rise 0.8% after closing at the highest since October 2018. Brent also climbed after settling above $70 a barrel. US gasoline demand was the highest since the pandemic …