News

  Bloomberg Teine Energy Ltd., the energy company backed by Canada Pension Plan Investment Board, has agreed to buy oil-producing properties from Penn West Petroleum Ltd. for C$975 million ($763 million) in cash. The deal involves all of Penn West’s properties in the Canadian province of Saskatchewan, including its Dodsland Viking light-oil assets in the east and the medium and ...

  Bloomberg Brazil’s fiscal accounts were in worse shape than initially thought after the suspension of Dilma Rousseff, underscoring the challenge facing the country’s new economic team, acting President Michel Temer said. “It was surprising, in a negative way, what we encountered,” Temer told the Folha de S. Paulo newspaper in an interview on its website. “The fiscal accounts were ...

  Bloomberg Wal-Mart Canada, a unit of Wal-Mart Stores Inc., said it will no longer accept Visa credit cards because the fees applied to purchases are too high. “To ensure we are taking care of our customers’ best interests and delivering on our promise of saving customers money, we constantly work to reduce our operating costs, including credit card fees,” ...

Bloomberg Ventus Ingenieria SRL, a Uruguayan wind-farm developer, is close to receiving a permit to export electricity to Argentina amid an excess of power generation in its home market. Uruguay’s government is considering a temporary permit to accelerate the deal while the government works through the standard regulatory procedures, according to Francis Raquet, a director at Ventus. The Montevideo-based company ...

  Tribune News Service Bahrain is going to be the hub of a new $200 million textile business spread across the Middle East and North Africa (Mena) region. MRS Fashions, which has been putting Bahrain on the global fashion map for the past 16 years through its manufacturing unit in the kingdom, is now setting up its new regional head ...

  Manama / Tribune News Service A foreign embassy has appealed to Bahraini authorities to relax recruitment procedures for its citizens, which it claimed led to exploitation and were so time-consuming that diplomats had no time for anything else. It has emerged that unscrupulous agents are conning Bangladeshi labourers out of almost a month’s salary to complete the procedures, which ...

  CAIRO / Reuters Egypt will end local wheat buying on Wednesday, earlier than usual, due to exceeding its target of 4 million tonnes, the supplies ministry said on Saturday. “Supplies Minister Khaled Hanafi pointed out that the door for receiving local wheat from farmers will close at the end of Wednesday due to lowering local procurement rates,” the ministry ...

  Bloomberg   British public opinion is too close to call on whether the country should stay in the European Union, with many voters still undecided as interest groups and political leaders make their cases, according to two polls released this weekend. An online survey by Opinium for the Observer newspaper showed 44 percent support Britain remaining in the 28-nation ...

  Bloomberg Germany’s biggest news magazine Der Spiegel threw its hat into the Brexit ring with a special edition, thicker and cheaper than usual, adorned with an image of the Union Jack and the German plea “Bitte geht nicht!” or “Please don’t go!” The issue that hit newsstands on Saturday costs 2 pounds, rather than the usual 5.20, in Britain ...

  AFP Greece is in the grip of a row over television, with the government under attack for plans to slash the number of private channels in a sector that was hit hard by the financial crisis. Authorities say they want to clean up an industry known for its workforce exploitation and rumoured under-the-table deals between media moguls, bankers and ...