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  Hong Kong / AFP Most energy firms in Asia jumped with a surge in oil prices on Monday after 11 non-OPEC countries agreed to huge cuts in crude production, while Saudi Arabia also signalled a bigger reduction in output than previously agreed. The 11 nations, led by Russia, said they would pump more than half a million fewer barrels ...

  AFP World oil prices surged on Monday after non-OPEC producers struck a deal to cut output, while Europe’s main stock markets were subdued before a key Fed meeting due this week. Indices in London, Frankfurt and Paris pulled back after soaring last week when the European Central Bank decided to extended its massive quantitative easing (QE) stimulus to December ...

  Bloomberg Israel and Turkey are working to eliminate a major obstacle to natural gas deals: their own fractious history. The two governments are working on a framework for the export of Israeli natural gas to Turkey that would protect contracts between companies if diplomatic ties break down, Israeli Energy Ministry Director-General Shaul Meridor said in an interview in Jerusalem. ...

  Bloomberg Turkey’s economy unexpectedly shrank in the third quarter, led by a slump in consumption, in the most significant sign yet that July’s failed coup and the political turmoil it provoked are weighing on confidence. It’s the first time in seven years that Turkey has announced a contraction. The lira weakened. Gross domestic product shrank an annual 1.8 percent ...

  Bloomberg Bill Gates and more than a dozen of the world’s wealthiest individuals revealed a new $1 billion investment fund to foster major advances in clean energy production. Dubbed Breakthrough Energy Ventures, the 20-year fund is backed by a mix of technology luminaries and heavyweights from the energy industry. The goal is to pump money into risky, long-term energy ...

  Bloomberg While China’s online shopping giant Alibaba Group Holding Ltd. racked up $18 billion of sales over a single day last month, a broader picture of retail conditions isn’t as rosy when it includes brick-and-mortar shops. Foot traffic to malls and restaurants declined in November amid a surge in online shopping activity, according to data from Baidu Inc., operator ...

  Bloomberg Tencent Pictures, the film unit of China’s biggest internet company, is looking for acquisitions that can accelerate plans to make its own blockbusters instead of just writing checks for them. The potential targets could be in Hollywood and include companies on both the creative and production sides of movie making, Chief Executive Officer Edward Cheng said in an ...

Bloomberg Tata Group wants to remove Cyrus Mistry, the former chairman of the conglomerate, from all its company boards, citing a breach of governance and failure to distance himself from Shapoorji Pallonji & Co. and other companies owned by his family. The fresh allegations were made in a Tata Sons statement Sunday and come ahead of an extraordinary general meeting ...

  Bloomberg Nintendo Co. rose to the highest in more than four months after starting to market its upcoming Super Mario Run smartphone game, including giving fans a chance to try out the game in Apple Inc. retail stores ahead of its Dec. 15 release. The stock climbed 3.7 percent as of midday in Tokyo, the highest since July 19. ...

  Bloomberg India has become the first nation to subsidize the use of digital cash after the government unveiled a raft of measures including discounts on online payments for insurance policies, rail tickets and highway toll charges. Exactly 30 days after junking existing high-value 500 and 1,000 rupee notes, Finance Minister Arun Jaitley sought to draw Indians toward digital payments ...