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Bloomberg Negotiators raced to clinch a historic deal to cut oil supply and stem a devastating price rout, with just hours to go before the market opens. As diplomatic wrangling between Mexico and Saudi Arabia entered a fourth day, a group of Opec+ ministers were due to speak at 5 pm London time. Delegates said some progress had been made …

Emirates Business Etihad Airways announced a series of special passenger flights from Abu Dhabi to Brussels, Dublin, London Heathrow, Tokyo Narita and Zurich, in addition to those previously published. Etihad has been operating special flights which allowed passengers stranded in UAE due to Covid-19 restrictions, opportunity to return home. The flights also support ‘UAE Food Security Program’ by utilising belly-hold …

Bloomberg Russia “sincerely hopes” that a consensus on oil-output cuts will be formalised among the world’s biggest producers as talks to rescue global energy markets continue after Mexico balked at proposed measures, Interfax reports, citing Kremlin spokesman Dmitry Peskov. The Opec+ coalition, including Russia, were closing in on an unprecedented agreement to lower global crude production by about 10% after …

Bloomberg A vaccine against the coronavirus pandemic could be ready by September, according to a scientist leading one of Britain’s most advanced teams. Sarah Gilbert, professor of vaccinology at Oxford University, told The Times on Saturday that she is “80% confident” the vaccine would work, and could be ready by September. Experts have warned the public that vaccines typically take …

Bloomberg Australia will increase its oil stock through an agreement with the US to help support the global market, following a video conference with G-20 energy ministers. Energy markets in Australia were operating safely, securely and the government is working with the sector to maintain supply for electricity, gas and liquid fuels, Energy Minister Angus Taylor said in a statement. …

Bloomberg India is set to extend its 21-day nationwide lockdown until April 30 to allow authorities, health workers more time to control growing spread of Covid-19 infections. Delhi’s chief minister Arvind Kejriwal said on Twitter Prime Minister Narendra Modi — who was meeting with state leaders via video conference on Saturday — made the right decision to extend the lockdown, …

RIYADH / WAM The Joint Forces Command of the Coalition to Restore Legitimacy in Yemen has declared a comprehensive ceasefire in Yemen for a period of two weeks, starting April 9 at 12:00 KSA time. The two-week period is subject to extension. “Based on its previous announcement on March 25, the Joint Forces Command of the coalition supported the Yemeni …

Bloomberg Oil rose but trading was volatile as the world’s top producers inched towards a deal to curb output. Brent futures were higher on the day, but fell sharply by about $2 a barrel on concerns that any deal may not be enough to stem rising inventories. The Opec+ meeting discuss curbing output by 10 million barrels a day, said …

Bloomberg India is planning to provide nearly $6.6 billion in loans to state power utilities as a slump in electricity demand squeezes liquidity while dues to generators pile up, according to people with knowledge of the development. The loans, via state-run Power Finance Corp. Ltd. and its unit REC Ltd., will help the utilities, known as discoms, clear debts to …

Bloomberg The number of people going hungry around the world could double in just a few months as the coronavirus pandemic wreaks havoc on food supplies and hurts incomes. That’s according to a group of major food companies, industry bodies and academics, which warned that those suffering from chronic hunger may surge from about 800 million amid mounting food-supply risks. …