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  AFP Iran signed a deal with France’s Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since sanctions were loosened in January. Total will lead a consortium also including China National Petroleum Corporation (CNPC) and Iran’s Petropars to develop Phase 11 of the South Pars field under a 20-year ...

  Reuters Saudi Arabia will settle all delayed payments to private businesses by the end of the year as it concludes a review of government projects that has saved tens of billions of riyals. The Council of Economic and Development Affairs approved the plan at a meeting late on Monday, the official Saudi Press Agency reported. The council authorized payments ...

  Emirates Business Saudi Arabia’s largest fleet customers recently visited the FUSO factory in Chennai with Al Habtoor Motors. The event was a great opportunity for Saudi fleet operators to meet, interact and share their ideas with other industry colleagues and learn best practice. The customers saw the outstanding build quality of FUSO trucks in this brand new manufacturing facility. ...

  Reuters Edita Food Industries, one of Egypt’s largest food producers, will raise the prices of some of its products and also increase workers’ pay after the massive devaluation of the Egyptian pound, its chairman said. The company’s decisions point to challenges faced by firms around the country in the wake of the devaluation, which is expected to trigger a ...

  Bloomberg Vestas Wind Systems A/S slumped after Chief Executive Officer Anders Runevad said growth may slow next year after third-quarter results were strong enough to boost his outlook for this year. Runevad said 2016 will be an “extraordinary year” for the Danish manufacturer of wind turbines and that sales are likely to slump in the US in 2017, the ...

  Bloomberg As Switzerland’s watch industry goes through the longest slump in decades, there’s one area that’s actually growing: rare vintage timepieces. A stainless steel Patek Philippe chronograph that’s one of four known to exist will go under the hammer at Phillips, which has built a reputation handling the most rarefied timepieces and estimates the model is worth more than ...

  Bloomberg Starbucks Corp. posted earnings that topped analysts’ estimates as new menu items and digital efforts like mobile ordering helped its US business defy a restaurant-industry slowdown. Profit rose to 56 cents a share, excluding some items, in the most recent quarter. That topped analysts’ average prediction of 55 cents. The world’s largest coffee-shop operator has been fueling sales ...

  Bloomberg UK manufacturing surged the most in five months in September, led by repair and maintenance of transport equipment including ships and machinery. The advance of 0.6%, exceeding forecasts for a 0.4% increase, indicates some strength in factories at the end of the third quarter. Still, weakness at the start of the period meant that manufacturing dropped 0.9 percent ...

CAIRO / Reuters Egypt’s stock market surged to an eight-year high on Tuesday because of hopes for foreign fund inflows after the currency was floated last week, while a plan by Saudi Arabia’s government to pay debts to the private sector boosted that market. The Egyptian blue chip stock index jumped 2.5 percent to 10,097 points, its loftiest finish since ...

  BEIJING / AP Global stock markets were steady on Tuesday, following strong Wall Street gains the day before, as investors focused on the final hours of a tight US presidential race. KEEPING SCORE: Germany’s DAX was 0.1 percent lower at 10,449 and France’s CAC-40 was down by the same rate at 4,458. London’s FTSE 100 was stable at 6,805. ...