BAGHDAD / Reuters Iraq’s parliament approved on Saturday a long-delayed 104 trillion Iraqi dinar ($88 billion) 2018 state budget, two lawmakers told Reuters, though lawmakers from the semi-autonomous Kurdistan region boycotted the session. The budget of 104 trillion Iraqi dinars ($88 billion) is based on projected oil exports of 3.8 million barrels per day (bpd) at a price of $46, …

Bloomberg A bright future lies ahead for OLED. When that starts, and how long it lasts, is less clear. Organic light-emitting diode screens have been touted as the future of smartphones because they’re crisper and easier on batteries than their liquid-crystal predecessors. In 2017, as Apple Inc. prepared its OLED iPhone X, suppliers led by Samsung Electronics Co. rushed to …

Bloomberg Amazon.com Inc. is embracing open-source software in the race to get its voice-based Alexa digital assistant into cars ahead of Google. Amazon engineers are working with Nuance Communications Inc. and Voicebox Technologies Corp. to write code that makes in-vehicle apps compatible with several speech-recognition technologies, eliminating the need for developers to make multiple versions. A working group was set …

Bloomberg Venmo’s app succeeded in becoming a ubiquitous way for young people to send money back and forth. It has been less successful at creating a sustainable business. Dan Schulman, chief executive officer of Venmo parent company PayPal Holdings Inc., said that while it hasn’t happened yet, the app will make money someday. “I have full confidence that we will …

Bloomberg Ford Motor Co. is taking its driverless delivery trials to South Beach to continue testing consumer response to receiving pizzas and packages from the back of a robot ride. The automaker is deploying a handful of delivery vehicles on the clogged byways of Miami and Miami Beach to serve up Domino’s pizza, groceries and other cargo. They’ll be dressed …

Bloomberg Russia is sending more natural gas to Europe than ever before as a blast of Arctic air lifted demand for heat and electricity, underlining the region’s dependence on its eastern neighbour. The freeze severely tested Europe’s energy network over the past week. Spot gas prices tripled to a record, drawing in more Russian supplies by pipeline and prompting a …

TOKYO / Reuters ExxonMobil Corp has declared force majeure on exports from its Papua New Guinea liquefied natural gas (LNG) project, which has been shut since a powerful earthquake, an industry source familiar with the matter said. At least 31 people were killed by the 7.5 magnitude quake, and Prime Minister Peter O’Neill has declared a state of emergency across …

Bloomberg For all his influence on the wider European economy, Mario Draghi is finding out that he has little sway in fixing a much more local problem. Almost two weeks after a member of his Governing Council was briefly detained for bribery and extortion, the European Central Bank president still has few options available to address a lingering crisis that …

SYDNEY / Reuters A first sale of green Islamic bonds by Indonesia could help open the door for more crossover deals across Asia, as religious and environmentally-minded investors find a middle ground in the sukuk funding format. Last week, Indonesia became the first Asian sovereign to sell green sukuk, raising $1.25 billion via a five-year deal, alongside a $1.75 billion …

Islamabad / Reuters Pakistan’s capital market regulator has drafted governance rules that cover sharia-compliant companies and securities, the latest government initiative aimed at develo- ping the country’s Islamic finance industry. The move by the Securities and Exchange Commission of Pakistan (SECP) marks the first time a regulator has defined comprehensive requirements for companies that deem themselves to be compliant with …