Bloomberg General Electric Co. is working with bankers on a possible sale of its power-conversion business, people familiar with the matter said, as the fallen manufacturer attempts to regain its footing by slimming down. The unit formerly known as Converteam could fetch about $1.5 billion, below the $3.2 billion GE paid for the assets in 2011, said the people, who ...

Bloomberg State-owned Indian Oil Corp. posted a 50 percent jump in quarterly profit as the margin for converting crude into fuels more than doubled. Net income climbed to 68.3 billion rupees ($992 million) in the quarter ended on June 30, from 45.5 billion rupees a year earlier, the company said in a stock-exchange filing. That compares with the 53.3 billion-rupee ...

Cairo / Emirates Business The Emirates NBD Purchasing Managers’ Index (PMI) for Egypt, sponsored by Emirates NBD and produced by IHS Markit, contains original data collected from a monthly survey of business conditions in the Egyptian private sector. Commenting on the Egypt PMI survey, Daniel Richards, MENA Economist at Emirates NBD, says, “The positive PMI reading for the first month ...