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DUBAI / Reuters Saudi Arabian food maker Savola Group, the country’s largest food products company, said on Wednesday that it is selling a 2 percent stake in Almarai, the Gulf’s largest dairy company for 1.12 billion riyals ($307.6 million). The sale was conducted through an accelerated bookbuilding process, which will cut Savola’s stake in Almarai to 34.52 percent from 36.52 ...

Bloomberg Mexico will most likely expand its oil hedge marginally for 2018 as it liberalizes gasoline prices, while the cost for the government to protect crude exports against a drastic drop in prices will be about the same as for this year, Finance Minister Jose Antonio Meade said. The earthquake off Mexico’s coast last week should trigger a portion of ...

BAGHDAD / Reuters Royal Dutch Shell is seeking to sell Iraq’s Majnoon oilfield and the oil ministry has started preparations to finalise its exit, according to an oil ministry letter and oil officials. A letter signed by Iraqi oil minister Jabar al-Luaibi and dated Aug. 23 and directed to Shell Iraq Petroleum Development gave approval for Shell to quit Majnoon, ...

Bloomberg Shares of Apple Inc.’s suppliers across Greater China greeted the company’s latest product line-up, including its most-expensive ever iPhone, with losses. While there were a few exceptions, the lack of any major surprises in Tim Cook’s much-anticipated unveiling weighed on stocks from Taiwan’s Pegatron Corp., an iPhone assembler, to South Korean screen-maker LG Display Co. Hong Kong-listed Cowell e ...

Bloomberg India’s biggest online matchmaker opened its initial public offering, selling shares in Matrimony.com Ltd. for about $15 a piece. Backed by Silicon Valley investor Bessemer Venture Partners, Matrimony.com expects to raise as much as $78 million with the IPO closing. The startup has already raised funds from Goldman Sachs India Ltd., BNP Paribas Arbitrage and Baring Private Equity India ...

Bloomberg WeWork Cos. is escalating a legal fight against UrWork with a US lawsuit, accusing the rapidly expanding Chinese rival of infringing on its trademarks. The US startup, which has been valued at about $20 billion, filed a lawsuit against UrWork in New York, saying it copied parts of its name and logo. That follows a separate legal action taken ...

Bloomberg Perween Rahman was returning home one evening in March 2013 from her job as head of the Orangi Pilot Project, which for years has pushed land title claims for Karachi’s poor, when she was shot three times by a gunman. Rahman died as she was rushed to hospital by her friend and colleague Anwar Rashid. “He was a sharp ...

Bloomberg Asian property prices have reached risky levels, especially in Sydney, Hong Kong and Shanghai, according to S&P Global Ratings. “Asset prices, especially property prices, today are as stretched as they were before the Asian crisis,” Elena Okorochenko, head of Asia-Pacific ratings said at a conference in Singapore on Wednesday. Combined with increased household debt, prices in Sydney, Hong Kong ...

Bloomberg Prime Minister Theresa May is in a double bind as she tries to navigate the politics of Brexit while keeping businesses on side: Even when she thinks she’s giving companies what they want, they say she’s made it worse. May is set to ask the European Union to let Britain keep access to its single market and customs union ...

Bloomberg European Commission President Jean-Claude Juncker pushed to expand Europe’s global economic footprint in a sign of growing confidence that the political threats posed by Brexit and populism can be curtailed. Juncker, who leads the European Union’s executive arm, proposed to start EU free-trade talks with Australia and New Zealand, give the bloc a role in screening foreign investments and ...