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Bloomberg Oil extended gains in London after the longest quarterly rally in a decade as a slowdown in American drilling added to concern that supply losses around the world will lead to a tight market. Brent crude rose as much as 0.7 percent, after front-month futures climbed for a fifth straight quarter. As concerns over a global crunch due to …

Bloomberg Bahrain’s credit risk declined to the lowest level in five months on optimism the nation’s neighbours will soon come to the island-state’s rescue with an aid package. The cost of insuring Bahrain’s debt against default fell 34 basis points last week on relief that Saudi Arabia, the United Arab Emirates and Kuwait were said to be considering a $10 …

Dubai / WAM Total volumes on the Dubai Gold and Commodities Exchange (DGCX), this year hit 17,255,556 contracts at the end of September, with yearly average daily volumes (ADV), at their highest ever, reaching 89,873 contracts per day. The best performing asset class in September was the Indian Rupee (INR), product suite, which saw Rupee Mini Futures record its second …

Bloomberg Saudi Arabia plans to increase spending next year more than initially forecast as authorities take advantage of higher oil prices to spur economic growth and reduce unemployment. Public spending is expected to reach 1.106 trillion riyals ($295 billion) in 2019, 100 billion riyals more than the government had projected last year, Finance Minister Mohammed Al-Jadaan said on Sunday. Authorities …

Bloomberg The best-performing stock in Egypt this year might be about to reward investors even more as a turnaround plan moves forward and the company completes a long-awaited project. Qalaa Holdings SAE, the Egyptian investment firm formerly known as Citadel Capital, is pushing to end annual losses by selling underperforming assets and lowering debt before its flagship oil refinery venture …

Bloomberg It seems hedge funds are jumping on the $100 crude bandwagon. As speculation increases that global oil prices could again trade that high, money managers are piling on bullish wagers, while short-selling shrinks. They are the most optimistic on a rally of Brent crude in over four months. This week, the benchmark closed above $80 for the first time …

Bloomberg Mexico may finally buy US crude oil for the first time ever. After three years of announcements, negotiations, and potential deals, Petroleos Mexicanos is seeking to buy a trial cargo of 350,000 barrels for its refineries in October. The much-anticipated deal has been in the making since 2015, when US exports were still banned and Mexico applied for a …

NEW YORK / WAM In the presence of His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, the UAE Ministry of Defence and the General Women’s Union – under the patronage of HH Sheikha Fatima bint Mubarak, Chairwoman of the General Women’s Union, President of the Supreme Council for Motherhood and Childhood, and Supreme …

Bloomberg Southeast Asia’s been home to almost half of the biggest growth drivers in the past half-century. To keep investors interested, it’ll have to make the right moves across technology, education and infrastructure, according to Diaan-Yi Lin, a senior partner at McKinsey & Co. Among 71 developing economies of the past half-century, 18 are responsible for the lion’s share of …

Bloomberg Pakistan raised its key rate to the highest in three years, making it Asia’s most aggressive interest-rate hiker this year as the country’s finances continue to dwindle. The target policy rate was raised for the third straight meeting to 8.5 percent from 7.5 percent, the State Bank of Pakistan said in a statement on Saturday. The move was predicted …