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Bloomberg Saudi Aramco has picked Lazard Ltd. and Moelis & Co. to advise on the oil giant’s second attempt at the world’s largest initial public offering, people with knowledge of the matter said. The boutique investment banks have started preparatory work on the offering, according to the people, who asked not to be identified because the information is private. They …

Bloomberg Oil fell for the first time in three days as US Secretary of State Mike Pompeo fanned the flames of the trade war with China, heightening concerns about economic growth that underpins energy demand. Futures fell as much as 1.7 percent in New York on Tuesday. Pompeo told CNBC that Huawei Technologies Co. and other Chinese companies pose national …

Bloomberg After years pouring funds into the shale boom, bond buyers are getting increasingly selective as defaults rise and many explorers continue to burn more cash than they make. While Exxon Mobil Corp. and Occidental Petroleum Corp. have recently sold a combined $20 billion of investment-grade debt, junk rated issuers are getting a far different market reception. High-yield energy companies …

Bloomberg Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardise crude exports. Futures in New York advanced 0.6 percent to trade near $55 a barrel. Yemeni rebels attacked oil and gas facilities at the Shaybah field in the southeast part of the …

Bloomberg US President Donald Trump’s tariffs on Chinese imports are getting a lot of blame for slowing the global economy, but it’s his Twitter habit that could be even more harmful. According to a report by Bloomberg Economics’ Dan Hanson, Jamie Rush and Tom Orlik, uncertainty over trade could lower world gross domestic product by 0.6 percent in 2021, relative …

Bloomberg The US will extend for another 90 days a narrow set of exemptions that had protected rural networks and other US customers from a ban on doing business with China’s Huawei Technologies Co., Commerce Secretary Wilbur Ross said on Monday. Some telecom companies in the US are “dependent” on Huawei, and thus a 90-day reprieve was deemed appropriate, Ross …

Bloomberg South Sudan has made a new crude find in the northern oilfields of Adar and plans production by the end of the year, Information Minister Michael Makuei Lueth said. The oil will be linked to the nearby Paloch oilfields that are managed by Dar Petroleum Operating Co., Lueth said on Monday by phone from the capital, Juba. Petroleum Minister …

ABU DHABI / WAM The UAE has carried out relief and development initiatives in challenging humanitarian situations in many regions around the world, a top official said on the occasion of World Humanitarian Day. Such humanitarian projects have supported victims of crises, conflicts and wars and contributed to improving their lives, Mohammed Haji Al Khouri, Director-General of Khalifa bin Zayed …

Bloomberg Larry Kudlow pushed back on Sunday on the notion that the US economy is headed towards a recession, and said recent phone calls between US and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro, President Donald Trump’s trade adviser, made multiple appearances on Sunday talk shows to discuss …

Bloomberg Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.” The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But it already sees the scope for as many as four …