Bloomberg Meicai, a Chinese startup that helps farmers sell vegetables to restaurants, and supermarket operator Wumart Stores Inc are among firms picked for the next round of bidding for German food wholesaler Metro AG’s $1.5 billion Chinese business, people with knowledge of the matter said. Local grocery chain Yonghui Superstores Co and Suning Holdings Group, the parent company of Chinese …

Bloomberg A strike by airline pilots across Scandinavia is set to erode profits at SAS AB as investors and passengers await news of a breakthrough in labour talks. Since starting, the strike already looks set to cause almost 3,000 cancellations, affecting about 280,000 passengers. SAS, in a written comment to Bloomberg, said the development is having a “very negative effect …

Dubai / Emirates Business Emirates has renewed its support to Mauritius and the memorandum of understanding (MoU) which outlines joint activities to promote the two countries. His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive, Emirates Airline and Group met a VIP delegation from Mauritius and Seychelles at Arabian Travel Market, 2019. A Memorandum of Understanding was …

Bloomberg The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, according to the Saudi Arabia General Investment Authority. Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively, Ibrahim Al Omar, governor of Sagia, as the kingdom’s investment-promotion …

DUBAI / WAM Nasdaq Dubai on Sunday welcomed the listing of a $1.5 billion sukuk by Islamic Development Bank (IDB). The listing underlines Dubai’s role as the largest centre globally for sukuk listings by nominal value currently totalling $60.89 billion. IDB now has 10 sukuk listed on the Middle East’s international financial exchange with a total value of $12.54 billion. …

Bloomberg Exxon Mobil Corp’s worst refining performance in almost two decades may revive questions about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every CEO in the company’s 149-year history. A surprise loss in a business line Exxon typically relies on to prop up more volatile units eroded first-quarter profit and cast doubt on the …

Bloomberg Total SA boosted cash flow in the first quarter as record hydrocarbon output and so-aring sales of liquefied natural gas compensated for a drop in crude prices. The French energy giant’s earnings are the latest sign of the industry’s recovery from a deep downturn, with Total benefiting from the start of giant LNG projects from Australia to the Arctic …

Bloomberg The world economy’s ability to rebound from its recent soft patch will be tested anew as data is released from Washington to Beijing. Federal Reserve officials conclude a meeting on Wednesday amid expectations they won’t change their monetary policy settings as counterparts elsewhere follow its dovish turn. A press conference by Chairman Jerome Powell will be eyed for insights …

Bloomberg These are troubling times for the New Zealand dollar but a whiff of optimism is in the air. The kiwi has been the worst-performing major currency over the past month, tumbling 3.6 percent, after the central bank said the next policy move was likely to be an interest-rate cut. Disappointing first-quarter inflation numbers helped speed its decline. The double …

Bloomberg Three months since the Federal Reserve put US interest rates on a prolonged pause, more and more central bankers around the world are getting nervous about tightening monetary policy. Policy makers across Asia, Europe and North America shifted their tones, with Sweden and Canada among them. The caution came in a week of fresh pessimism on the global outlook …