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Bloomberg India’s judiciary must consider the interests of the economy and examine the impact of its verdicts on jobs, the country’s top court said in a judgment that could help reduce stalled projects in Asia’s third-largest economy. “The court needs to avoid that particular outcome which has a potential to create an adverse affect on employment, growth of infrastructure or ...

Bloomberg Crude markets are taking oil optimists by surprise yet again. Hedge funds boosted bets on a rally just before West Texas Intermediate prices tanked from a report showing surging American stockpiles. Wagers rose 7.3 percent to the highest since April in the week through June 6, US Commodity Futures Trading Commission data show. The next day, futures fell the ...

Bloomberg Oil steadied after a third weekly loss on speculation that sustained drilling by US producers will blunt efforts by OPEC and Russia to re-balance an oversupplied crude market. Futures were little changed in New York after sliding 3.8 percent last week. Inventories are declining and reductions will accelerate in the next three to four months, Saudi Arabia’s Energy Minister ...

SINGAPORE / Reuters The costs to ship fuel and crude oil from Qatar are expected to rise after the United Arab Emirates banned vessels that previously called at Qatar from docking at UAE ports, multiple sources from the oil and shipping sectors said on Monday. After Saudi Arabia, the UAE, Egypt and others last week severed diplomatic and transport links ...

Bloomberg India’s oil demand bounced back in May, led by the highest growth in gasoline consumption in nine months and the fastest increase in diesel usage since November. Total fuel consumption rose 5.4 percent to 17.79 million tons in May, the most in six months, according to the Oil Ministry’s Petroleum Planning and Analysis Cell. Demand for diesel, which accounts ...

Bloomberg After the shock comes the silver lining. Most business leaders are dismayed at the political chaos unleashed by the UK election, which left a damaged Prime Minister Theresa May trying to forge a shaky coalition government. But some are quietly hoping that it may lead to softer terms for the country’s exit from the European Union. UK Plc was ...

Bloomberg Canada’s labor market continued surprising in May, with a greater-than-expected 54,500 jobs gain that also finally came with signs of a pick-up in wages. The employment gain — the third biggest one-month increase in the past five years — was driven by the addition of 77,000 new full-time jobs, which offset falling part-time employment. Economists had forecast a 15,000 ...

Dubai / Emirates Business Total gross bond issuance in the GCC has already surpassed 2016’s total value in the first five months of this year, according to Fisch Asset Management, a global leader in convertible and corporate bond strategies. Current market conditions have created a favourable landscape for new bond issuances, with the GCC Sukuk market issuing up to USD ...

Abu Dhabi / WAM Foreign investors’ buy value of shares in ADX amounted to around AED 2.282 billion during May, claiming 60.9 percent of the total value of traded stocks, with foreign sales for the same period valued at AED2.077 billion, accounting for 55.4 percent of total trading, resulting in a net foreign investment value of around AED204 million. As ...

DUBAI / Emirates Business FIVE Holdings, the Dubai-based real estate development and hospitality group previously known as SKAI Holdings, has launched a AED2.10bn (USD570m) real estate investment trust (REIT), the region’s first hospitality focused REIT and the largest to date. The REIT, to be regulated by the Abu Dhabi Global Market (ADGM) and Financial Services Regulatory Authority (FSRA), will include ...