Bloomberg Oil producers are succeeding in re-balancing an oversupplied market, though they may need to take further steps to sustain the recovery into 2018, OPEC Secretary-General Mohammad Barkindo said. Saudi Arabia and Russia are currently leading consultations between the Organization of Petroleum Exporting Countries (OPEC) and other major suppliers about the future of their agreement to cut oil output, Barkindo …

Reuters Oman Telecommunications (Omantel) plans to buy a 12 percent stake in Kuwaiti telecoms company Zain in a deal that would more than double its stake as part of its expansion strategy. Having purchased a 9.8 percent stake in August to diversify its investment and market position in the region, Omantel said on Monday that it had signed a non-binding …

Riyadh / Reuters Saudi Arabia’s Public Investment Fund (PIF) said on Monday it is creating a 4 billion riyal ($1.07 billion) ‘fund of funds’ to support the growth of small and medium-sized enterprises (SMEs). The special fund will aim to boost SMEs’ access to capital by investing in venture capital and private equity funds, according to a PIF statement. The …