Bloomberg Indian shares touched a new high a day before the central bank’s monetary policy meeting, boosted by a rally in property developers. The benchmark Sensex and the NSE Nifty 50 indexes, which reopened after a holiday, extended Monday’s record levels. The Sensex climbed 0.2 percent and the Nifty gained 0.3 percent at the close in Mumbai, while an ...

  CHIBA / Reuters Producers of liquefied natural gas (LNG) have shot themselves in the foot with oversupply, and face calls for flexibility and greater competition from other fuels that may force them to take more risks and start trading just like other commodity dealers. That’s a big change for a market long dominated by large producers such as Royal ...

  Bloomberg Saudi Arabia has chosen a hybrid structure for its debut international sukuk, the prospectus for the offer showed, a format widely used in the Saudi local debt market, but not the most popular for sovereign issues. The Islamic bond, expected to go up to $10 billion, will be the country’s second international debt sale after a $17.5 billion ...

  Bloomberg Oil rose to the highest in almost a month as investor focus returned to US crude inventories after supply disruptions and optimism over OPEC’s output curbs drove a rally in the past week. Futures added as much as 1.3 percent in New York, the sixth increase in seven days. US stockpiles shrank by 1.83 million barrels last week, ...

  DOHA / Reuters Qatar Petroleum (QP) and ExxonMobil will start drilling for oil and gas off the southern coast of Cyprus in 2018, the Qatari firm said after signing an exploration and production sharing contract with the Mediterranean island. Exploring the Mediterranean’s Levant Basin has become more attractive since Eni discovered Egypt’s offshore Zohr field in 2015, the biggest ...

  Bloomberg The new way foreign worker visas are doled out in the US is poised to benefit some of the biggest technology companies, like Alphabet Inc., Microsoft Corp. and Facebook Inc., while punishing outsourcing firms that developed a disproportionate dependence on the program. The administration is increasing scrutiny on H-1B visa applications for low-level computer programmers, focusing enforcement on ...

  Bloomberg Toronto’s residential housing market showed no signs of cooling last month, with the average sale price soaring a record 33 percent from a year ago, pushing the cost of a detached home in the heart of the city to almost C$1.6 million ($1.2 million). In Toronto and surrounding suburbs prices climbed by a third in every major housing ...

  Bloomberg Uncertainty about President Donald Trump’s domestic policies and weak European currencies buoyed outbound dealmaking by US companies during the first quarter of the year. US acquirers spent more than $70 billion on European targets in the three months to March 31, more than double the amount they dropped in the same period a year earlier and the most ...

  Bloomberg Seattle’s first-in-the-nation law allowing drivers-for-hire to unionize was blocked by a federal judge, giving a boost to ride-hailing companies such as Uber Technologies Inc. and Lyft Inc. US District Judge Robert Lasnik in Seattle on Tuesday granted a request by the US Chamber of Commerce to put the city’s ordinance on hold before it goes into effect. The ...

  When people come up to me and declare that economists are charlatans, they usually mention how economists failed to predict the Great Recession. This is true. No mainstream macroeconomic model of the day managed to anticipate that the largest, longest economic downturn since the Great Depression was imminent, until it was already underway. Macroeconomists typically respond that forecasting isn’t ...