Orascom Construction Industries’s settlement of a tax dispute in Egypt will help a move backed by Microsoft Corp. founder Bill Gates to transfer its shares to Amsterdam, EFG-Hermes Holding SAE and VTB Capital said.
Electricite de France SA, Europe’s biggest generator, reported a 12 percent gain in first-quarter sales after an Italian acquisition and said profit will rise in the second half on cost savings and improved atomic output.
Total SA failed to sell a cargo of North Sea Forties as an extra shipment was added to the May loading program. Gunvor Group Ltd. bid unsuccessfully for Russian Urals blend even as it bid at the highest level in almost six months.
Swiss bank Pictet & Cie.’s water fund is profiting from the Middle East’s need to buy the technology to make more seawater drinkable as companies such as Xylem Inc. and Danaher Corp. step up business in the region.
A Moroccan immigrant was sentenced to five years in prison for plotting to bomb synagogues in New York City, becoming the second person convicted under state terrorism laws passed shortly after the Sept. 11 attacks.
The Organization of Petroleum Exporting Countries will increase shipments by 60,000 barrels a day through to the middle of May because of rising demand in Asia, according to tanker tracker Oil Movements.