ABU DHABI / WAM The UAE has strongly condemned the cowardly attack that targeted a convoy of the UN World Food Programme (WFP) near Goma, the capital of the North Kivu province in the Democratic Republic of the Congo (DRC). The Italian ambassador to the DRC and two other people were killed during the attack. The Ministry of Foreign Affairs …

Bloomberg Oil rose near $62 a barrel with investment banks and traders predicting the market’s rally can go further. Futures in New York gained 0.8% on Tuesday and are up almost 30% so far this year. The market is heading towards what could be the tightest quarter since at least 2000, according to Morgan Stanley, while Socar Trading SA sees …

Bloomberg Reliance Industries Ltd has started carving out its new oil-to-chemicals operation into an independent unit with a $25 billion loan from the parent, as billionaire Mukesh Ambani steps up efforts to unlock the value of his businesses. The wholly owned unit’s assets will be funded by the interest-bearing loan, which will be an “efficient mechanism to upstream cash, including …