News

  Bloomberg Norway’s first-ever withdrawal from its $860 billion sovereign wealth may be bigger than planned. Here’s why: The government has yet to account for a potential decline in payouts from Statoil ASA, of which it owns 67 percent. The oil producer has introduced a scrip dividend, allowing investors to take stock in-lieu of cash. Norway has committed to keeping ...

  Vienna / AFP OPEC looks to be in a happier place with oil prices recovering, but its inability to agree an output ceiling to restrain the flow of crude betrays lingering divisions that could spell trouble ahead, analysts warn. Meeting in Vienna on Thursday, the Organization of the Petroleum Exporting Countries expressed confidence that the crisis of the past ...

  Bloomberg Policy makers should move beyond short-term budget and inflation targets that leave their economies exposed to longer-term debt bubbles like the ones hindering growth since the 2008 financial crisis, Bank of Canada Governor Stephen Poloz said. Central banks with inflation targets like Canada’s are finding that the benefits gained from short-term stability can create dangers in the background ...

  Bloomberg Sun International Ltd. headed for the biggest three-day gain in seven years in Johannesburg after the hotel operator won approval for the merger of its Latin American assets with Dreams SA. It’s poised for the largest gain since March 2009 in the three sessions after Sun International reported completing sign-off for the transaction from gambling regulators. Volume traded ...

  Bloomberg JinkoSolar Holding Co., the photovoltaic maker that has shipped the most panels this year, said demand for its top-branded products is prompting it to expand capacity even as a potential supply glut looms over the industry in the second half of the year. A growing solar market has prompted manufactures to build up more capacity. The top three ...

  Bloomberg Brazil’s market for distressed consumer and small-business debt will increase about 9 percent this year as the nation’s worst recession in a century drives banks to sell assets, according to estimates by one of the biggest investors in the securities. Banks will unload portfolios of non-performing loans with a face value of about 25 billion reais ($7 billion) ...

  Bloomberg Environmental officials worked to contain a small sheen of oil on the Columbia River after a Union Pacific Corp. train carrying a load of Bakken crude derailed near Mosier, Oregon, according to the company. Access to the site remains limited as the train continues to cool off following a fire that broke out after Friday’s accident, the Federal ...

  AFP Mayra de Ramos stood in line all day to buy two packs of corn flour and pasta, but the Venezuelan grandmother says it won’t be enough. She lives with her three children and three young grandchildren in Catia, a downtrodden neighborhood in Caracas. “My refrigerator is bare,” the 64-year-old pensioner says, showing its empty shelves. “We don’t eat ...

  Sharjah / WAM Since its establishment of American University of Sharjah (AUS) has been envisaged as an institution of excellence designed to meet the present and future needs of society, said His Highness Sheikh Dr Sultan bin Muhammad Al Qasimi, Supreme Council Member, Ruler of Sharjah, and President of AUS, at the AUS Spring 2016 graduation ceremony held on Saturday ...

  Geneva / WAM Saqr Ghobash, Minister of Human Resources and Emiratisation, discussed on Thursday with Sri Lankan State Minister of Labour and Trade Unions Relations, Hon. Ravindra Samaraweera, cooperation and ways to strengthen it, especially in the areas of labour. The two ministers met on the sidelines of the 105th session of the International Labour Conference currently being held in ...