Bloomberg Oil headed for its longest run of gains this year as Libya’s biggest oil field was said to have suffered another outage while Russia signaled it’s weighing an extension of OPEC-led production cuts. Futures gained for a fifth day in New York after advancing 3.2 percent last week following a US military strike on Syria. Libya’s Sharara field ...

  Bloomberg Egyptian consumer prices showed some signs of stability in March, signaling that the surge in inflation triggered by the central bank’s decision to abandon currency controls five months ago could be easing. Annual inflation in urban areas accelerated to 30.9 percent compared with 30.2 percent in February, according to data released by the official statistics agency, CAPMAS on ...

  Bloomberg China’s anti-graft agency is probing the nation’s top insurance offi- cial Xiang Junbo as the govern-ment steps up a bid to rein in financial risks amid an economic slowdown. Xiang, chairman of the China Insurance Regulatory Commission, is under investigation on suspicion of “severe” disciplinary violations, the Central Commission for Discipline Inspection said in a statement on its ...

  Bloomberg Hong Kong housing prices are close to their peak and economically “unsustainable,” said Cusson Leung, managing director at J.P. Morgan Chase & Co.’s Asia Pacific equity research unit. Price increases in the world’s most expensive home market have outpaced Hong Kong’s gross domestic product growth “significantly” since 2009, and any external shocks could trigger tighter liquidity in the ...

  Bloomberg India, set to become the world’s largest steel producer after China, churned out a record amount in the year through March to feed rising local demand, while boosting exports to the highest ever. Output jumped 11 percent to 101.3 million metric tons and the nation was a net exporter for the first time in three years, doubling shipments ...

  Bloomberg BHP Billiton Ltd. is being targeted for an overhaul by occasional activist Elliott Management Corp., which urged the world’s biggest mining company to spin off about $22 billion of US oil assets and list them in New York. Elliott says BHP, which has two separate legal entities listed in Sydney and London that are run as one group, ...

  Bloomberg President Donald Trump took credit for Toyota Motor Corp. investing $1.33 billion in an existing US factory, championing spending by a Japanese automaker he’s blasted for building a plant in Mexico. The outlays in Georgetown, Kentucky, aren’t new — they’ve been in the works for years. But the way they’re being marketed is. Instead of emphasizing cost efficiency, ...

  Bloomberg Alphabet Inc.’s Google denied Department of Labor allegations that an in-progress investigation suggests “systemic compensation disparities against women” at the internet giant. “Every year, we do a comprehensive and robust analysis of pay across genders and we have found no gender pay gap,” Google said in an emailed statement. “Other than making an unfounded statement which we heard ...

  ABU DHABI / WAM Gulf investments in the plastic industry amount to around US$ 55 billion, (approx. AED 202 billion) according to Abdulwahab Al-Sadoun, Secretary General of the Gulf Petrochemicals and Chemicals Association GPCA. Al Sadoun said the plastic sector is projected to attract $17 billion of fresh investments over the coming five years, bringing to $72 billion the ...

  Abu Dhabi / WAM The Abu Dhabi Gross Domestic Product (GDP) increased, as per the current prices, by 6.00 percent during the 1st quarter of 2016, compared to the same period in 2015 on the back of an 8 percent rise in the added value of oil businesses and a 5.1 percent increase in non-oil businesses. This came in ...