Bloomberg After years of easy money, many of the world’s biggest oil traders are enduring a brutal new reality. Traders have been wrong-footed by wild swings in price spreads between oil grades, particularly in the US market. Amid dwindling profits, trading desks are being overhauled, with some firms restructuring their operations and paring budgets designed for better times. It’s a ...

Bloomberg India is planning to sell its stake in SJVN Ltd. and Power Finance Corp. to other government-controlled companies in deals that may fetch the federal government about 200 billion rupees ($2.8 billion), helping it to rein in the fiscal deficit amid growing risks of a slippage, people with knowledge of the matter said. The government plans to sell its ...

Bloomberg Egypt’s biggest outsourcing services provider, Raya Contact Center, is expanding as economic growth rebounds and a weaker currency makes it more competitive. The Cairo-based company, which operates offshore call centers and offers other corporate services, added about 1,000 workstations this year, compared to a previous annual average of 400 workstations, Chief Executive Officer and Managing Director Reem Asaad said. ...