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Bloomberg Oil rose in tandem with global equity markets, shrugging off concerns over a new wave of crude production from the US as fears of a global trade war eased. Still, the International Energy Agency’s warning that OPEC production cuts will unleash a supply surge from the US and other producers maintained a note of caution in the market. Oil …

Bloomberg Saudi Arabia’s former oil minister has some advice for anyone worried about a possible drop in future demand for crude: Chill. “I would like to put everyone at ease, there are no such worries,” Ali al-Naimi said in Manama, Bahrain, when asked if he sees a threat to oil demand from climate policies and increasing use of electrical vehicles. …

Bloomberg Rakshith Kunder is adding more solar panels to the roofs of his warehouses. He isn’t seeking to save the planet, it’s pure economics. “Solar power costs us just a third of grid power and has also reduced our diesel backup cost,” Kunder, 33, said by phone from the city of Kota, in the southern state of Karnataka. His 3 …

Bloomberg The Dominican Republic expects to draw interest from energy titans BP Plc and Exxon Mobil Corp. when it opens the country to natural gas and oil exploration for the first time later this month, joining a push by governments across the Caribbean to develop energy production. The government plans to open two land blocks for oil exploration and two …

Emirates Business Select Property Group, the premium British property developer with its largest sales centre in Dubai, has announced the launch of its latest project in Manchester—the UK’s number one investment city. CitySuites 2 is already attracting significant interest across the GCC region and follows the success of the first CitySuites project that was sold in 2015, in which over …

Bloomberg Federal investigators are seeking to question the chiefs of India’s biggest lenders as they widen their probe into the $2 billion fraud at Punjab National Bank. The Enforcement Directorate has written to the heads of 31 banks asking to meet officials about the fraud, according to people familiar with the matter. The investigators will start with state-run PNB on …

Reuters Kazakhstan’s financial centre expects the government to issue Islamic bonds, or sukuk, in coming months as part of efforts to develop Islamic finance business in the central Asian country, an official said on Tuesday. Final legislative changes to allow issuance of sovereign sukuk are nearly complete, alongside registration of a special purpose vehicle by the Ministry of Finance, said …

DUBAI / Reuters Egypt’s EFG Hermes is considering adding 20 percent more staff as one of the region’s biggest investment banks expects an improved deals outlook in Saudi Arabia by the second half of the year, a senior executive told Reuters. “There is massive interest in Saudi, but you will find that a lot of people are looking at it …

RIYADH / Reuters Saudi Arabia’s central bank said it would no longer offer repurchase agreements for seven-, 28- and 90-day periods, after short-term Saudi money market rates fell below US rates for the first time in nine years. In a brief statement, the Saudi Arabian Monetary Agency said it no longer needed to use the instruments and aimed to preserve …

DUBAI / Reuters The Lebanese central bank’s dollar reserves climbed by $1.4 billion in the first two months of the year and its total assets in dollars exceeded $43 billion, recovering from a decline during a political crisis at the end of last year, its governor said on Tuesday. Governor Riad Salameh said political conditions in the country had “returned …