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  Bloomberg The global oil market will be almost balanced next year as demand continues to rise faster than production, while the current oversupply is much smaller than previously thought, the International Energy Agency said. The surplus in the first half of this year is about 40 percent smaller than estimated a month ago, as consumption proves stronger than expected ...

  Bloomberg Twitter Inc. jumped after Microsoft Corp.’s $26.2 billion agreement to buy LinkedIn Corp. prompted speculation other technology companies may become acquisition targets. Twitter ended the day up 3.8 percent to $14.55 in New York after rising as much as 9.1 percent earlier. The social network’s stock had dropped 39 percent this year through Friday as investors questioned whether ...

  Bloomberg Brazil’s new central bank president IlanGoldfajn pledged to hit the center of the inflation target, while nominating members to his board that include a banker from the private sector. “The objective is to fully meet the inflation target established by the National Monetary Council, looking at its center,” said Goldfajn, 50, during a ceremony to mark his taking ...

  Bloomberg Eagle Ford shale producers are getting a new outlet to ship their abundant natural gas to Mexico as the southern neighbor seeks supplies to increase power generation. A unit of Spectra Energy Corp. and a joint venture between Sempra Energy’s Ienova and TransCanada Corp. won contracts to link the Agua Dulce Hub on the Texas Gulf Coast to ...

  Bloomberg League Inc., a Canadian health-insurance startup, is raising $25 million in a funding round backed by Omers Ventures, Royal Bank of Canada and Manulife Financial Corp. Toronto-based League lets employees find and pay for services such as therapy, dental work and chiropractor visits through a mobile application. League isn’t an insurer but connects insurance pools, employees and a ...

  Bloomberg Canada should consider further housing-market restrictions to avoid a crash, the Organisation for Economic Cooperation and Development said, adding another voice to the recent chorus of those warning rapid price gains may be unsustainable. The country has the highest ratio of residential investment to gross domestic product among the 34 OECD nations, and household debt equal to 168 ...

  Bloomberg Consumer confidence hit a fresh high this year as the number of Canadians expecting a decline in real-estate prices dropped, telephone polling shows. The Bloomberg Nanos Canadian Confidence Index rose to 57.9 from 57.8 a week earlier, reaching the highest level since November. The gain was driven by increased housing optimism: the difference between the share of those ...

  Bloomberg Foreigners buying homes in Sydney will face a new property tax from next week when New South Wales becomes the second state in Australia to impose such a duty as soaring demand from China helps drive record prices. Australia’s most populous state plans to introduce a 4 percent stamp duty surcharge from June 21 and from next year ...

  TRIBUNE NEWS SERVICE A year ago, the U.S. Supreme Court ratcheted up the pressure on housing officials across the country to do what has rarely been done in Houston: build affordable homes in well-off neighbourhoods. That is proving to be easier said than done. The court warned that concentrating public housing in low-income, high-minority neighborhoods could violate the Fair ...

  ABU DHABI / WAM The UAE’s Ministerial Development Council, presided by HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, discussed the preparation of a global regulatory framework for Islamic finance as part of the UAE government vision to make the country a global centre for Islamic economy. The proposal includes setting comprehensive ...