Madrid, Spain / AP Spain is coaxing Indian moviemakers to use its colourful fiestas and historic monuments as settings for their films, in a move to grab a bigger share of India’s fast-growing overseas tourism market. As part of its bid to lure visitors from the world’s second most populous country, Madrid will host next weekend the annual International Indian …

  Bloomberg Here comes Canadian oil to douse the hottest rally since 2009. Money managers reduced bets on rising oil prices by the most in 11 months as Canadian output continued to ramp up after Alberta’s wildfires. The recovery in oil prices remains “fragile” as disrupted supplies return to the market and prolong a global surplus, according to Goldman Sachs …

  Bloomberg Morgan Stanley says investors should bet on longer-term bonds ahead of the U.K. vote on whether to leave the European Union. “We suggest investors remain long duration across developed rate markets into the EU referendum,” Morgan Stanley analysts including Matthew Hornbach, the head of global interest-rate strategy in New York, wrote in a June 17 report. “Rates would …

  Bloomberg Crude prices around $50 a barrel are enough for Venezuela’s state oil producer to avoid a default on its debt, company president and national oil minister Eulogio Del Pino said in an interview. “$50 is enough,” he said on Bloomberg Television. The company’s average production cost is around $12 a barrel, he said. Petroleos de Venezuela SA will …

  Bloomberg Oil gained for a second day above $48 a barrel as the dollar retreated, boosting the appeal of commodities priced in the U.S. currency. Futures rose as much as 1.3 percent in New York after climbing 3.8 percent. The Bloomberg Dollar Spot Index fell for a fourth day after closing at the lowest since June 9. Russian President …

  Bloomberg The Colombian peso led losses among emerging-market currencies amid concern the U.K. will vote to leave the European Union and after the Latin American nation increased its fiscal deficit target. The currency pared its drop as bets on a so-called Brexit decreased. The peso retreated 1.3 percent to 3,015.95 per dollar in Bogota, after slumping as much as …

  James D.J. Brown SPECIAL TO EMIRATES BUSINESS On May 6, 2016, Prime Minister Shinzo Abe travelled to Russia to meet with President Vladimir Putin in Sochi. This was a bold move by the Japanese leader, as it was seen as breaking ranks with the G7’s policy of isolating Russia in response to the 2014 annexation of Crimea. U.S. President …

  The political context around Hillary Clinton has changed. Until now, complaints about her have pervaded public commentary, usually with a predictable refrain. In a May podcast, former Daily Show host Jon Stewart couldn’t find much good to say about the next leader of the Democratic Party. He imagined Hillary Clinton, he said, “to be a very bright woman without …

Mihir Sharma All too often, the stewards of India’s economy have been short of credibility. Politicians’ promises of economic reform are rarely fulfilled, bureaucrats’ assurances are widely disbelieved, and even India’s growth numbers have become objects of suspicion. Of late, one institution and its leader had proven exceptions to this rule: the Reserve Bank of India and its governor, Raghuram …

  Bloomberg The recovery in China’s housing market that helped underpin the economy in the first half is showing signs of tapering off. New-home prices excluding government-subsidized housing climbed in 60 cities in May, down from 65 in April, among the 70 tracked, the National Bureau of Statistics said. With less of a boost from a recovering property market likely …