Bloomberg Oil climbed to an 18-month high in New York as output cuts by Kuwait and Oman signaled OPEC and its partners are delivering on their agreement to stabilize the market. Futures rose as much as 2.8 percent after adding 45 percent last year, the biggest annual gain since 2009. Officials from Oman and Kuwait told local media they’re …

  Bloomberg Singapore’s economic growth quickened to the fastest pace in more than three years last quarter as manufacturing and services rebounded. Gross domestic product rose an annualized 9.1 percent in the three months to December from the previous quarter, when it declined a revised 1.9 percent, the trade ministry said in a statement on Tuesday. The median estimate of …

  Bloomberg The leaders of two of India’s largest technology services companies, Infosys Ltd. and Wipro Ltd., have warned employees that their industry faced a grave threat from rising political and economic conflict around the world. Employees need to innovate and bring out their best to survive, Infosys Chief Executive Officer Vishal Sikka said in a year-end note to staff. …

  Bloomberg Australian house values increased at the fastest pace in seven years in 2016, as record-low interest rates helped fuel demand for property despite warnings such price increases may be unsustainable. The average dwelling value in the nation’s eight state and mainland territory capitals rose 10.9 percent last year, compared to 7.8 percent in 2015, data from CoreLogic Inc. …

  Bloomberg China’s factories and services both closed out 2016 on relatively robust notes that signal growth is strong enough for policy makers to keep pushing for economic reforms in 2017. The manufacturing purchasing managers index stabilized near a post-2012 high in December, edging down to 51.4 from 51.7 the prior month. The non-manufacturing PMI slipped to 54.5 from a …

  Bloomberg China has started an overhaul of its salt industry, easing a monopoly that has existed in some form for more than 2,000 years and predates the Great Wall. New regulations went into effect at the start of this year. Under a plan published by China’s State Council last year, government regulators will allow private companies to enter the …

  Bloomberg The pace of German inflation more than doubled in December, driven by a surge in oil that is set to mask continued weakness in underlying price pressures in the months ahead. Consumer prices rose 1.7 percent from a year ago, recording the biggest jump on record, the Federal Statistics Office in Wiesbaden said on Tuesday. Economists surveyed by …

    Bloomberg UK manufacturing grew at the fastest pace in 2 and a 1/2 years in December, helped by the pound’s deprec- iation since the vote to leave the European Union. After dipping sharply in the wake of the Brexit referendum — dropping below the key 50 level in July — the IHS Markit Purchasing Managers Index has since …

  Bloomberg The outlook for Britain’s labour market is “fairly bleak” amid the uncertainty surrounding Brexit and low levels of productivity, according to the Chartered Institute of Personnel and Development. Slower growth, lower real wages and increasing precariousness in the workforce will be the major challenges for the UK government and businesses over the next 12 months, the CIPD said. …

  Bloomberg Finland has become the first country in Europe to pay its unemployed citizens a basic monthly income, amounting to 560 euros ($587), in a unique social experiment which is hoped to cut government red tape, reduce poverty and boost employment. Olli Kangas from the Finnish government agency KELA, which is responsible for the country’s social benefits, said Monday …