CAIRO / Reuters Edita Food Industries, one of Egypt’s largest snack food producers, said on Wednesday it was raising prices by between 20 and 50 percent amid higher input costs due to the drop in the value of the Egyptian pound last month. Inflation surged to an eight-year high of 19.4 percent in November, propelled by a steep depreciation …

  Bloomberg Oil retreated from the highest close since July 2015 as focus shifted to expanding US crude stockpiles after OPEC and other producing nations agreed to cut output to stabilize the market. Futures slid as much as 1.7 percent in New York after climbing 6.5 percent over the previous four sessions. US inventories rose by 4.68 million barrels last …

  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 …