Regional News

Bloomberg Even before the pandemic struck, outdoor air pollution was linked to the deaths of as many as nine million people each year. Now two new studies show that Covid-19 patients are more likely to die if they live in regions with high levels of air pollution. Air pollution affects human health in insidious ways. The burning of fossil fuels …

Bloomberg The fallout from the coronavirus crisis is starting to upend wheat tenders in the world’s top importer. In a rare move, Egypt cancelled a tender within hours of announcing it, without giving a reason. The state buyer added a new clause requiring suppliers to replace any cargoes affected by virus-related restrictions with wheat from elsewhere, and bear the difference …

Bloomberg Saudi Telecom Co has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter. Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than …

Bloomberg Suzlon Energy Ltd will offer to restructure debt at a steeper discount than Indian banks have been willing to consider so far, said people familiar with the matter, pushing the wind turbine maker closer towards bankruptcy. The Pune-based company proposes to swap its 113 billion rupees ($1.6 billion) of outstanding debt into 36 billion rupees of new debt, translating …

Bloomberg Saudi Aramco will increase dividend payments and pay less tax as the government tries to secure the $2 trillion valuation targeted by Crown Prince Mohammed bin Salman in the state oil company’s initial public offering (IPO). The state-run company, which produces about 10% of the world’s oil, plans to announce its intention to float later this month with the …

Bloomberg When aluminum demand last contracted during financial crisis and unwanted metal started flooding into warehouses, it took more than a decade to work through the glut. Now, the market is bracing for another sharp rise in inventories as demand growth grinds to a halt. Aluminum has tumbled to a two-and-a-half-year low as slowing global growth and the US-China trade …

Bloomberg Mozambique expects to get $880 million in capital gains tax from Occidental Petroleum Corp.’s deal to sell its Africa assets to Total SA, the presidency said in a statement. The nation, already cashing in on a liquefied natural gas boom even before it starts exporting the fuel in 2023, is home to a $23 billion project that Anadarko Petroleum …

Bloomberg Kenya plans to invite bids next month for the development of a $1.1 billion crude pipeline as the East African nation prepares to start exports via the conduit in three years. Construction of the approximately 820-kilometer (509-mile) pipeline from the oil fields in South Lokichar to the Indian Ocean port of Lamu may start in the second half of …

Bloomberg Nigeria LNG Ltd., the operator of Africa’s largest natural gas plant, is in talks with lenders to finance a $10 billion expansion. The company is discussing with the country’s top-10 lenders including Guaranty Trust Bank Plc and Zenith Bank Plc, to raise as much as $2 billion, and with foreign lenders and export-credit agencies for the balance, Chief Executive …

Bloomberg The man in charge of Norway’s trade policies is sanguine about the prospects of the country’s largest export destination potentially leaving the European Union without a deal. Torbjorn Roe Isaksen, Norway’s Trade and Industry Minister, is this week meeting with colleagues in London to discuss trade in the run-up to Brexit and sketch the framework for a permanent agreement …