Bloomberg Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage (CCS) technology that is stagnating amid concerns about whether it can ever be cost-effective. The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered on the sidelines of an energy conference in Oslo …

Bloomberg Kenya will introduce a royalty for geothermal-power producers under a proposed new law. Fees will be levied at a rate of 1 percent to 2.5 percent of revenue generated from the energy source within the first decade of a geothermal license being issued, according to the draft Energy Bill presented to lawmakers. The levy will then climb to between …

DUBAI / Reuters State-owned Oman Gas Co. is working with a group of banks to raise a bridge loan of slightly over $1 billion, which will later be refinanced via a US dollar bond issue, sources familiar with the matter said. The natural gas transport company, which was bought by state-owned Oman Oil Company in 2013, will use the financing …

Bloomberg Want a neat narrative? There isn’t one. Stocks buckled, $3 trillion was lost, then just as quickly, roughly half of it came back. Nothing quite explains every little twist and turn. Much of it remains a blur. But there are clues to be gleaned from the behaviour of buyers and sellers. Several key facts stand out. One: a very …

ABU DHABI / Reuters The Nasdaq Dubai exchange launched equity index futures on Sunday for the main indexes of Dubai Financial Market and the Abu Dhabi Securities Exchange, a top official said. The new instruments could help to attract fresh money to the exchanges by giving investors more opportunity to hedge. Nasdaq Dubai began trading single-stock futures for shares in …

DUBAI / Reuters Middle Eastern stock markets may have an upward bias on Sunday because of a gradual recovery in oil prices and in Egypt’s case, last week’s interest rate cut, although there appears to be little reason for any strong rise in equities. Wall Street closed marginally firmer while Brent oil continued its gradual recovery, settling up 51 US …

Bloomberg India’s state-owned UCO Bank said it has exposure of $411.8 million in the nearly $2 billion bank fraud perpetrated against Punjab National Bank, a case linked to billionaire jeweler Nirav Modi. UCO Bank’s Hong Kong branch granted loans against letters of credit issued by PNB, UCO Bank said in a filing with the Bombay Stock Exchange. Other banks, including …

Bloomberg Authorities in Italy searched the headquarters of the country’s biggest phone carriers as part of an antitrust probe over pricing of mobile and fixed-line services. Financial police and officials from the Italian Antitrust Agency searched offices in Rome and Milan of Telecom Italia SpA, Vodafone Group’s local unit, Swisscom AG’s Fastweb, Wind Tre and industry lobby Asstel, the regulator …

Bloomberg Martin Gilbert and Keith Skeoch’s $1 trillion dream has grown a little more distant. Six months after merging Scotland’s two biggest money managers to create a giant capable of competing with the largest US companies, the co-chiefs of Standard Life Aberdeen Plc are instead digesting the potential loss of almost 20 percent of the funds at their asset-management business. …

Bloomberg Latvian central bank Governor Ilmars Rimsevics was detained by the country’s anti-corruption bureau, the prime minister said in a statement on Sunday. The government has full trust in the work of the anti-graft body and won’t interfere in its work, according to the statement sent by the office of Premier Maris Kucinskis. No further details on the reason for …