Bloomberg Saudi Arabian Oil Co. signed contracts with US companies to build dozens of oil rigs over 10 years as the kingdom builds for the long-term future of its most prized industry even while coordinating with other producers to cut output for six months to stabilize crude. The Saudi state producer known as Saudi Aramco signed a contract with …

  Bloomberg Sharply falling water levels at Mozambique’s Cahora Bassa dam, sub-Saharan Africa’s biggest hydropower plant, are threatening electricity supplies to countries including South Africa, which buys about a third of its output. Levels are the lowest Phil Bezuidenhout, a lodge owner at the dam, has seen in the 24 years he’s operated on its shores in the country’s northwest. …

  Rome / AFP Italy’s parliament on Wednesday endorsed a new government tipped to be so short-lived that its inauguration was seen as the start of battle for the next election. Incoming Prime Minister Paolo Gentiloni’s new line-up, appointed after Matteo Renzi quit a week ago following a crushing referendum defeat, was approved by 169 votes for to 99 against …