LONDON / Reuters Compliance with a global deal to cut oil supply hit a new high in February, a joint OPEC and non-OPEC committee estimated, suggesting a rise in the price of crude has not weakened commitment. Producers in the pact achieved 138 percent of pledged output reductions last month, OPEC said in a statement, a record since the deal …

Bloomberg US stocks swung between gains and losses, the dollar weakened and Treasuries steadied as traders await the Federal Reserve’s first policy decision since Jerome Powell took the helm. The S&P 500 Index fluctuated, while the Dow Jones Industrial Average and Nasdaq Composite Index edged lower. Leisure companies and banks were among the biggest losers in the Stoxx Europe 600 …

Reuters Saudi Arabia’s stock market rose on Wednesday, lifted by its expected inclusion in the secondary FTSE emerging market index, while United Arab Emirates’ markets were boosted by its top two property companies. The Saudi index gained 0.5 percent to close at 7,762 points, backed by leading stocks that investors expect to attract foreign funds if the FTSE upgrade is …

Bloomberg Ready the cash-printing machines — the world’s most sophisticated refineries are about to enjoy great times thanks to what might seem like a minor tweak in rules for the type of fuel ships consume. From 2020, vessels must buy fuel with less sulfur, or alternatively be fitted with equipment to curb emissions of the pollutant. One thing is clear: …

KUWAIT / Reuters Kuwait’s Public Authority for Industry (PAI) plans to set up a multi-purpose industrial city in the Gulf Arab state with total expected investments of $6.6 billion, an official said on Wednesday. PAI Acting General Manager Abdulkareem Taqi told Reuters that the government would put in place the infrastructure for the city at an estimated cost of $600 …

Bloomberg Nigerian energy conglomerate Sahara Group Ltd. said it revived plans for a share-sale as it looks to increase oil production four-fold to 100,000 barrels per day. Lagos-based Sahara mulled an initial public offering in the Nigerian commercial capital and London in 2015, before falling crude prices forced it to backtrack. “The IPO is now back on the table,” Tonye …

Bloomberg An avalanche of apparently mistaken orders at the close knocked Taiwan’s third-biggest stock down almost 10 percent in minutes, draining $3 billion from its market value. Formosa Petrochemical Corp lurched from around 116 Taiwan dollars to 106 in a cascade of orders that culminated in a 15.2 million-share closing auction — a trade valued at more than $55 million. …

Bloomberg Most Asian central banks will stand pat for now, even with the Federal Reserve poised to raise borrowing costs this week. While previous tightening cycles in the US prompted many Asian nations to move in lockstep, things are different this time. Subdued inflation and healthy foreign reserves reduce the need to move quickly and the risk of a trade …

Bloomberg China will now permit foreign companies to access its $27 trillion payments market, which will further open up the world’s second-largest economy. Foreign players can start applying for payment licenses and will be treated the same as local firms, the People’s Bank of China said in a statement on Wednesday. Applicants must set up local units, establish payment infrastructure …

Bloomberg Hoist Finance AB of Sweden is gearing up to buy non-performing credit portfolios from Greek banks as they prepare to offload loans that soured during the country’s debt crisis. “There’s been a lot of talk about Greece for a long time, but now it’s actually happening,” Klaus-Anders Nysteen, the chief executive officer of Hoist, said in an interview in …