Bloomberg Oman’s Renaissance Services SAOG, a service provider to the oil and gas industry, is considering an initial public offering for its Topaz Energy & Marine unit, according to people familiar with the matter. Renaissance, which has a market capitalisation of about $379 million, could seek a valuation of about $1.5 billion for the Dubai-based business, the people said. Goldman ...

Bloomberg President Donald Trump called on the rest of the world to isolate Iran and said a US campaign of “economic pressure” would turn back the Islamic Republic’s aggression, in his second address to the United Nations General Assembly. Trump declared in his speech that America, under his leadership, had achieved new economic and military heights. While he ran for ...

Bloomberg The US approved the sale of military equipment to Taiwan, drawing China’s ire as tensions escalate between the world’s two largest economies. Taiwan welcomed the package, estimated by the Pentagon to be worth $330 million, which was proposed by its government last year and includes spare parts for F-16, C-130 and indigenous defense fighter aircraft. It represents the smallest ...

Bloomberg The UK opposition Labour Party plans to vote down Theresa May’s divorce agreement with the European Union, and sees a second referendum as a way of avoiding a chaotic no-deal Brexit. Labour’s Brexit spokesman Keir Starmer set out what he called a “sequenced, structured,” strategy for the next few months in Parliament, when May is expected to put the ...

Bloomberg Swedish Prime Minister Stefan Lofven was voted out in a confidence vote in parliament as the center-right opposition and the nationalists joined forces to end four years of Social Democratic rule. The vote sets up lengthy government talks. An election two weeks ago left Lofven’s coalition with a lead of just one seat over the Alliance opposition and saw ...

Bloomberg The US sanctioned Venezuelan President Nicolas Maduro’s wife and several close associates in an escalation of Trump administration efforts to punish the socialist regime for corruption and anti-democratic practices. Cilia Flores de Maduro, 61, is the first lady, a former attorney general and head of the National Assembly. Vice President Delcy Rodriguez, Information Minister Jorge Rodriguez, as well as ...

Bloomberg US stocks were mixed after President Donald Trump said China is taking advantage of the US on trade while oil producers rallied on stronger crude prices. Treasuries fell as the Federal Reserve started its two-day policy meeting. US benchmarks briefly fell to their lows of the day as Trump told the United Nations that the US trade deficit with ...

Bloomberg Crude approached a four-year high after OPEC signaled it may not replace Iranian oil that’s disappearing from global markets as US sanctions loom. Futures rose as much as 1.7 percent in London on Tuesday. OPEC shrugged off the threat to Iranian supplies over the weekend, spurring some of the world’s most-sophisticated traders to forecast a return to $100-a-barrel oil. ...

Bloomberg China said it’s open to talking on the trade dispute, but it needs the US to show sincerity and not put a knife at Beijing’s throat. The US trade restrictions are responsible for the stalled talks and any resumption is up to them, according to Wang Shouwen, China’s vice commerce minister. The two sides had previously reached some consensus ...

Bloomberg Oyo Hotels, an Indian startup for booking reliable rooms in the country’s chaotic lodging market, is raising $1 billion to fund expansion into China and other global regions. Existing investors including SoftBank Vision Fund, Sequoia Capital and Lightspeed Venture Partners have put in $800 million, with commitments for another $200 million, the company said. About $600 million of the ...