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Bloomberg Oil traded near $49 a barrel as Libyan output and exports declined amid security threats and a labor dispute in the port of Zueitina. Futures fell 0.3 percent in New York after Friday’s 0.5 percent gain. Libya’s biggest oil field cut output by more than 30 percent, a person familiar with the matter said Sunday, while the head of ...

TUNIS / Reuters Libya’s National Oil Corporation (NOC) said it was investigating security violations that had taken place in recent days at Sharara oil field, the country’s largest. The NOC gave no detail of the incidents in a statement released late on Sunday, but said the head of security at the field had reported that the breaches were due to ...

DUBAI / Reuters Saudi Arabia’s Jabal Omar Development Co, one of the largest listed property developers in the country, plans to raise 4 billion riyals ($1.1 billion) with local currency sukuk issues, sources familiar with the matter said on Monday. The company, which has taken out bank loans over the past few years to back its flagship development in Mecca, ...

BEIJING / Reuters Chinese oil refineries operated in July at their lowest daily rates since September 2016, official data showed on Monday, to ease brimming inventories as state-owned oil giants faced off independents in a retail petrol price war. China, the world’s second-largest oil consumer, processed 45.5 million tonnes of crude in July, or 10.71 million barrels per day (bpd), ...

Bloomberg Japan’s second-quarter gross domestic product data put the nation in an unexpected spot: at the top of the growth table among Group of Seven advanced economies. The strongest domestic demand in years helped drive Japanese GDP to a sixth consecutive quarter of expansion, elevating hopes for a sustainable recovery in an economy that’s been better known in recent years ...

Bloomberg Alibaba and Tencent can count themselves among the world’s costliest technology companies after a stellar run. To justify those lofty valuations, China’s two largest corporations have to deliver on some of the riskiest bets they’ve placed in years. Alibaba Group Holding Ltd., which created China’s largest online bazaar but has scant brick-and-mortar experience, spent $8 billion investing in a ...

Bloomberg Toshiba Corp.’s talks to sell its chips business to a consortium led by Bain Capital hit an impasse over the timing of payments for the business and governance issues, according to people familiar with the matter, casting doubt on the company’s ability to complete a deal quickly. The Bain group wants to make cash payments after Toshiba resolves a ...

Bloomberg China’s home sales grew last month at the slowest pace in more than two years amid regulators’ moves to rein in soaring prices. The value of new homes sold rose 4.3 percent to 779 billion yuan ($117 billion) in July from a year earlier, according to Bloomberg calculations based on data released Monday by the National Bureau of Statistics. ...

ABU DHABI / WAM Masdar, Abu Dhabi’s renewable energy company, and MDC Business Management Services (BMS) signed a MoU to explore opportunities to deliver projects that improve the energy and water efficiency of buildings and facilities in the UAE. Masdar’s specialised sustainability capabilities will be combined with the facilities management expertise of BMS to help companies make their properties more ...

ABU DHABI / WAM Short-term deposits in UAE banks increased by AED27.9 billion during H1, bringing to AED439.7 billion the total value of short-term deposits by the end of June, according to UAE Central Bank statistics. The term ‘Short Term Deposit’ refers to an amount of money placed in a bank or financial institution for a term no longer than ...