Bloomberg Sudan’s newly appointed oil minister urged international energy companies to speed up efforts to find and develop deposits in a country struggling to recover from US sanctions and a plunge in petroleum revenue. Officials from Schlumberger Ltd., an oilfield services company based in Houston, met with Oil and Mining Minister Adel Ali Ibrahim and expressed a readiness to resume …

Bloomberg Kenya is expanding its solar power, building two utility-scale projects that will supply green electricity to about 300,000 of the nation’s homes. The Radiant and Eldosol solar plants with a combined capacity of 80 megawatts will cost $147 million, the European Investment Bank said. The European trade bloc’s lender is co-funding the plants with Dutch bank Nederlandse FMO NV, …

Bloomberg China isn’t in a rush to add massive monetary stimulus, in contrast with other central banks around the world, and must maintain a prudent policy stance, central bank Governor Yi Gang said. Overall financial risks are contained and those in the shadow banking sector and some key institutions have been resolved, said Yi, speaking at a joint briefing in …

Bloomberg Job cuts announced by banks this year are approaching 60,000, almost all of them in Europe, where negative interest rates and a slowing economy prompt lenders including Germany’s Commerzbank AG to step up cost reductions. Commerzbank said it plans to eliminate 4,300 positions, deepening a restructuring that started three years ago. That brings the total disclosed this year to …

Bloomberg Goldman Sachs Group Inc’s most senior female banker is getting a promotion as Chief Executive Officer David Solomon continues reshaping leadership teams across the firm ahead of his first anniversary in the top job. Alison Mass, who has been responsible for cultivating the bank’s relationships with top buyout shops and multinational firms, was named chairman of the investment-banking division, …

Bloomberg HSBC Holdings Plc won its court fight against a 33.6 million-euro ($37 million) European Union antitrust fine for conspiring with other banks to rig the Euribor benchmark, raising questions about whether the fines slapped on other institutions will hold on appeal. While the judges at the EU’s General Court agreed that HSBC infringed competition, they annulled the fine for …

Bloomberg Last week’s turmoil in money markets raises questions about the appropriate level of bank reserves in the financial system, Federal Reserve Bank of New York President John Williams said. It is “important that we examine these recent market dynamics and their implications for the liquidity needs in relation to the overall amount of reserves held at the Federal Reserve,” …

Bloomberg Australia’s central bank chief Philip Lowe reiterated that his economy is at a “gentle turning point” and gave little indication that an interest-rate cut was in the immediate offing, potentially disappointing economists expecting one within days. “At our board meeting next week, we will again take stock of the evidence,” the Reserve Bank governor said in the text of …

Bloomberg US equity-index futures advanced with European stocks while Asian shares rose modestly as investors weighed hopes for high-level trade talks next month between America and China against mixed economic data from around the globe. The pound rose after a court ruling key to Brexit. Contracts on the three main US equity benchmarks all pointed to a firm open after …

Bloomberg Some of the Philippines’ top money managers see central bank easing and low inflation pushing the nation’s equity benchmark back above the key 8,000 level. The Philippine Stock Exchange Index has retreated 5.8 percent since riding a bull market to as high as 8,365.29 on July 15. The gauge has breached the 8,000 mark about a dozen times this …