“Communism would have worked, if the Soviet Union had only tried it for real.” I must have heard this argument a dozen times from die-hard leftist friends. Marxist economists such as Richard Wolff and Stephen Resnick even wrote a book making exactly this claim. No doubt, true believers will be just as unwavering in the face of Venezuela’s collapse. …

  Bloomberg Saudi Arabian stocks joined gains across most Gulf equities after the kingdom said it would let foreign investors take part in initial public offerings, boosting overseas access to the Middle East’s largest exchange. The Tadawul All Share Index added 0.2 percent at 1:23 p.m. local time, its second straight advance. Abu Dhabi’s ADX General Index rose less than …

Bloomberg Nigeria is looking for investments of $7 billion in mining and steel over the next decade as it seeks to develop gold and iron ore extraction industries to diversify its oil-dependent economy. One of the government’s priorities is to meet its annual steel demand of 6.8 million metric tons, from a current output of a third of that, produced …