Bloomberg Volvo AB’s second-quarter operating profit rise 39 percent, buoyed by resilient European demand for trucks and a production cut in the US to adjust for an expected slowdown, while construction-equipment earnings rebounded from a year-earlier provision. Earnings adjusted for one-time items rose to $1.03 billion from 6.13 billion kronor a year earlier, the Gothenburg-based manufacturer said on Wednesday in ...

DUBAI / Reuters OPEC member Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products, according to official documents and industry sources. Middle East oil producers are venturing into buying and selling oil to boost their incomes as a sharp drop in crude prices since mid-2014 has ...

BENGHAZI / Reuters Production at Libya’s Sharara oilfield dropped to between 130,000 and 150,000 barrels per day (bpd), from about 280,000 bpd, because of recent security breaches, an engineer who works at the field said on Tuesday. Field employees had difficulty accessing some of the field’s facilities after cars and mobile phones were stolen, said the engineer, who did not ...