Bloomberg Egypt will ask the International Monetary Fund’s executive board within a day or two to consider its $12 billion loan request, Finance Minister Amr El-Garhy said, after the central bank freed the pound’s exchange rate to help spur investments and ease a dollar crunch. The push to finalize the loan comes as Egyptian banks began freely trading foreign ...

  AFP Iran will sign a deal with France’s Total on Tuesday for the development of gas production at a major offshore field in the Gulf, the Iranian oil ministry said. The Heads of Agreement (HOA) for the development of Phase 11 of the important South Pars field is worth $6 billion (5.4 billion euros), a ministry spokesman said The ...

  Bloomberg Saudi Arabian Oil Co. halted shipments of oil products to Egypt indefinitely, Egyptian Oil Minister Tarek El-Molla said, forcing the Arab world’s most populous nation to buy fuels on world markets at higher cost. The state producer known as Saudi Aramco informed the Egyptian General Petroleum Corp. in early October that it would halt supplies of refined oil ...

  Reuters A switch to cleaner fuels in the world’s ships in 2020 could double the profits of the world’s most advanced oil refineries — but threatens to put older ones out of business and punish those countries, including prominent OPEC members, that produce the wrong kind of crude. In less than four years, ships worldwide will have to cut ...

  Bloomberg UK Prime Minister Theresa May clashed with her Indian counterpart Narendra Modi over migration rules and failed to arrange a meeting with senior figures at Tata Group in a double blow to her three-day visit to India. Modi called on Britain on Monday to support more Indian students who want to enroll at universities in the U.K, as ...

  Bloomberg Nissan Motor Co. reported a 16 percent drop in second-quarter profit and predicted that industry demand in the U.S. and China, its two largest markets, will slow. Net income declined to 146.1 billion yen ($1.4 billion) in the three months through September, as a stronger yen eroded overseas earnings and U.S. discounts increased, the automaker said on Monday. ...

  AFP Indonesia’s economic growth slowed in the third quarter as government spending and exports fell, official data showed Monday, dimming hopes that Southeast Asia’s top economy will hit its GDP target this year. The economy expanded 5.02 percent year-on-year from July to September, slightly below forecasts and slower than a revised 5.19 percent in the second quarter, according to ...

  Bloomberg China has green-lit a sweeping and controversial law that may grant Beijing unprecedented access to foreign companies’ technology and hamstring their operations in the world’s second-largest economy. The Cyber Security Law was passed by the Standing Committee of the National People’s Congress, China’s top legislature, and will take effect in June, government officials said Monday. Among other things, ...

  Bloomberg Google’s DeepMind AI unit, which earlier this year achieved a breakthrough in computer intelligence by creating software that beat the world’s best human player at the strategy game Go, is turning its attention to the sci-fi video game Starcraft II. The company said it had reached a deal with Blizzard Entertainment Inc., the Irvine, California-based division of Activision ...

  Bloomberg How big a threat are the new batch of robo-advisors to traditional active fund managers?Are they, as Sanford C. Bernstein & Co LLC put it in a new research note, an “innocuous robot like R2-D2 or are they Terminator?” To answer the question, Bernstein analysts opened multiple accounts at two prominent European based robo-advisors, Nutmeg Saving and Investment ...