Bloomberg Offshore oil-rig operators, grappling with the biggest industry downturn in a generation, say they finally have the bottom in sight. The problem is, they could be stuck there for a long time. Transocean Ltd., which owns the biggest offshore-rig fleet in the world, believes utilization for floating units will reach bottom toward the middle of next year, Chief ...

  BENGHAZI / Reuters Libya has lifted force majeure at some of its main ports and is resuming exports, the National Oil Corporation said on Thursday. “Exports will resume immediately from Zueitina and Ras Lanuf, and will continue at Brega … exports will resume from Es Sider as soon as possible,” NOC Chairman Mustafa Sanalla said. He said Libya’s U.N.-backed ...

  Emirates Business In 2015, Egypt was one of the fastest-growing economies in the Middle East and North Africa region – second only to Morocco – with GDP growth of 4.5 per cent. It is a clear sign that the project-led recovery plan and economic reforms initiated by Cairo are paying dividends. There has been a sharp step-up in project ...

  Manila / AFP Rodrigo Duterte shot dead a justice department employee and ordered the murder of opponents, a former death squad member told parliament Thursday, in explosive allegations against the Philippine president. The self-described assassin testified under oath that he and a group of policemen and ex-communist rebels killed about 1,000 people between 1988 and 2013 on Duterte’s orders ...

  Geneva / AFP Twenty trucks loaded with desperately needed aid for eastern Aleppo have crossed into a buffer zone between Turkey and Syria, a high-level UN official said on Thursday. “The 20 trucks… have passed over the Turkish border, they are in the buffer zone between the Turkish and Syrian border,” Jan Egeland, head of the United Nations humanitarian ...

  Denpasar / AFP An explosion on a speedboat in Bali left two foreigners dead and 18 other tourists injured Thursday, sparking dramatic scenes as rescuers rushed to haul stunned and bloodied holidaymakers off the vessel. Dazed passengers, many covered in cuts and bruises, were taken to medical centres on the Indonesian holiday island after the blast, with TV footage showing ...

  The Hague / AFP The new prosecutor for a special tribunal set up to try crimes arising out of the late 1990s Kosovo conflict pledged on Thursday there would be “no unnecessary delays” in bringing charges. As court officials gave their first ever press conference, David Schwendiman vowed he would investigate cases “without fear or favour” but stressed “there ...

  Aleppo / AFP At a rundown park near the frontlines in the Syrian city of Aleppo, a fragile truce has brought out visitors to see the last animal left at a makeshift zoo — “Happy” the monkey. The 22- year-old hamadryas baboon has been a much-loved attraction at Sabil park in the western portion of the city for years. But ...

  AFP European stock markets were mixed on Thursday, as London shares rose on hints from the Bank of England that there could be another rate cut this year. London’s benchmark FTSE 100 stocks index was up 0.2 percent in afternoon trading, as traders also reacted to better-than-expected British retail sales data. In the eurozone, Frankfurt’s DAX 30 index slipped ...

  AFP Oil prices rebounded slightly on Thursday after tanking the previous day, but gains were capped by US stockpiles data and the prospect of rising output in Libya and Nigeria, dealers said. At about 1015 GMT, US benchmark West Texas Intermediate for delivery in October was up 20 cents at $43.78 a barrel. Brent North Sea crude for November ...