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ADDIS ABABA / WAM Palestinian President Mahmoud Abbas said on Monday that he is ready for a historical peace deal with Israel based on a two-state solution, the WAFA News Agency has reported. “We are waiting for Israel to respond to the initiative of the US President Donald Trump for a historical peace deal based on a two-state solution,” said ...

Bloomberg President Xi Jinping’s complaint about a ‘negative’ turn in China’s relationship with the U.S. showed the challenge facing Donald Trump when the two leaders meet in Germany this week. Xi’s comment during a phone call with Trump on Monday followed several assertive U.S. moves in Asia, including a naval patrol past a Chinese-controlled islet a day earlier. The American ...

Bloomberg The interior ministers of France and Germany agreed on new measures meant to help Italy as it struggles to cope with rising migrant arrivals, pledging to boost support for the Libyan coast guard and speed up their relocation under a European Union accord. At a dinner in Paris with interior ministers Gerard Collomb of France, Thomas De Maiziere of ...

Bloomberg Chancellor Angela Merkel urged Germany’s partners in the Group of 20 states to avoid deeper divisions in economic policy as these may become irreconcilable, and to seek inclusive “win-win” solutions that benefit all instead. Commenting in her weekly podcast, the German leader said the G-20 summit in Hamburg this week offers a good platform for states to air their ...

Bloomberg Oil traded near the highest closing price in almost three weeks after US drilling slowed after a record expansion. Futures were little changed in New York after rising 8.3 percent the previous seven sessions. US drillers targeting crude reduced the number of active rigs for the first time in 24 weeks, according to Baker Hughes Inc. data. Libya’s oil ...

Bloomberg Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years, further complicating OPEC’s struggle to regain control of the oil market. The North African country is pumping 1.005 million barrels a day, according to a person with direct knowledge of the situation, who asked not to be identified because ...

Bloomberg Oil short-sellers have been on a roll, but their bets on declining prices may have begun to hit a wall. Hedge-fund wagers on lower West Texas Intermediate crude reached the highest level since August in the week ended June 27, after more than doubling in two months, according to Commodity Futures Trading Commission data. The bearish bets increased at ...

CAIRO / Reuters Egypt attracted almost a nine-fold increase in foreign investment in domestic debt instruments in the 2016-2017 fiscal year, the finance ministry said. Appetite for Egypt’s domestic debt has increased since the central bank floated the currency in November as part of an International Monetary Fund lending programme aiming to revive the economy. For the 2016/17 fiscal year, ...

Bloomberg Banks and energy producers led a broad rally in European stocks as investors kicked off the second half of the year. The Stoxx Europe 600 Index added 0.6 percent at 8:21 a.m. in London, rebounding from a two-month low. The benchmark on Friday extended its June declines to 2.7 percent, the worst in a year, halting its longest run ...

Bloomberg With a landmark goods and services tax now rolling out across India, Prime Minister Narendra Modi is likely to turn his focus to job creation and other key economic reforms. Further big structural steps, such as revamping India’s land acquisition and labor laws, are unlikely to occur before the next national election, scheduled for 2019, as Modi’s Bharatiya Janata ...