REUTERS Gulf stock markets mostly edged down on Sunday with Saudi Arabia pulling further away from a major resistance level, although a surge by fuel distributor ADNOC Distribution buoyed Abu Dhabi. The Saudi index slipped 0.3 percent to 7,518 points, pulling away from the July peak of 7,586 points. Dairy company Almarai dropped 1.9 percent after reporting fourth-quarter net profit …

Bloomberg Kuwait is weighing plans to sell dollar-denominated bonds, according to people familiar with the matter, joining other Gulf Cooperation Council states also said to be considering sales. Officials from the oil-rich Gulf nation have held talks with banks about the possibility of a sale as soon as the first quarter, two of the people said, asking not to be …

Bloomberg Off Grid Electric, a San Francisco-based company that develops rooftop solar and battery systems in Africa, has raised $55 million as it expands into Ghana. The Series D round was led by Helios Investment Partners and included GE Ventures, the venture capital subsidiary of General Electric Co., Off Grid said in a statement. The company’s Ghana expansion is part …

Bloomberg A boom in solar power is threatening to wipe out $1.4 billion a year of summertime revenue for fossil-fuel generators in Texas. Almost 15 gigawatts of solar power may crop up in the Lone Star state in the coming years, and every gigawatt stands to shave about $2.76 a megawatt-hour from wholesale electricity prices there when demand peaks in …

Bloomberg Despite Interior Secretary Ryan Zinke’s January 9 declaration that Florida is “off the table” for offshore oil drilling, that activity is actually still on the table. The acting director of the Bureau of Ocean Energy Management made clear that Zinke’s decision, announced on Twitter and described to reporters in the Tallahassee airport, doesn’t stop a formal process of considering …

Bloomberg Plans to export natural gas from Iraqi Kurdistan got a boost after reserves were upgraded at two key fields. Yet successful development still hinges on the region’s turbulent politics. The Miran and Bina Bawi deposits hold 14.8 trillion cubic feet of contingent gas resources, explorer Genel Energy Plc said in a statement after an audit was carried out by …

Bloomberg Activist investor ValueAct Capital Management has taken a stake in international power producer AES Corp., and the fund’s founder Jeffrey Ubben will join its board to help push for cleaner energy resources. Ubben will work with AES on the company’s plan to sell coal assets, reduce debt and develop more solar power and battery storage, according to AES. ValueAct, …

Bloomberg China’s crude oil production will likely extend its slide into a third year as state-run giants focus on pumping natural gas to meet President Xi Jinping’s drive to use more of the cleaner-burning fuel. China, which last year overtook the US as the world’s top oil importer, will see the pace of crude output declines from its old, high-cost …

Bloomberg The design for a new class of safe financial assets intended to strengthen the euro area will be published imminently after almost a year of delay, according to officials familiar with the matter. The report, commissioned by European Central Bank President Mario Draghi, will offer a plan for bundling government debt from the bloc’s 19 nations into a security …

Bloomberg Federal Reserve Vice Chairman Randal Quarles, the central bank’s supervision chief, shared a laundry list of ways to make regulation less burdensome for Wall Street — including streamlining capital rules, overhauling post-crisis trading limits and making major changes to how the agency conducts stress tests. “Confusion that results from overly complex regulation does not advance the goal of a …