Bloomberg Oil headed for the biggest weekly gain since early March as Opec+ put the market on course for further tightening ahead of winter. West Texas Intermediate traded above $90 a barrel on Friday, bringing futures close to 12% higher for the week, as Brent topped $95 for the first time since mid-September. Time spreads were signaling supply scarcity …

  Jeddah / WAM Dr Zamir Iqbal, Vice President, Finance, chief financial officer of the Islamic Development Bank (IsDB), said the bank collected $1.6 billion from its first sukuk issuance in April. The AAA-rated issuance was executed in line with the bank’s $4.1 billion financing plan for 2022, approved by the chairman. In his statement to the Emirates News Agency …

Bloomberg Australia is poised to grab a fifth of the world’s lithium hydroxide refining capacity within five years as demand grows for battery metals that bypass China, Canberra said in a report. China produces more than 80% of the world’s lithium hydroxide, a processed form of the in-demand metal, according to the International Energy Agency (IEA). However, several companies are …