DUBAI / Reuters A surge by major food maker Savola helped Saudi Arabia’s stock market outperform a generally sluggish region on Tuesday, while Air Arabia jumped in Dubai on its second-quarter earnings. The Saudi stock index rose 0.5 percent as Savola, which had been in an uptrend for the last few days, gained 4.0 percent in its heaviest trade for …

Bloomberg Delivering yet another jolt to Russia’s central bank, last month brought a new surprise after an inflationary shock in June. The unexpected reading in the consumer-price index pushed it below the Bank of Russia’s target of 4 percent months ahead of a year-end deadline, as a surge in food costs fizzled out. But when it comes to the direction …

Bloomberg Wealth managers’ revenue stagnated last year even as firms boosted assets by almost 4 percent, highlighting how the pressure on fees is increasingly spreading to the lucrative business of managing rich people’s money. Companies responded by cutting expenses to bring the cost-income ratio, a measure of profitability, below 80 percent for the first time since 2012, according to a …