World Business News

General Electric Co said it will buy oilfield services provider Lufkin Industries Inc for about $3.3 billion to expand its oil and gas business.

The current level of oil prices is not harmful to the global economy and on the contrary supports energy investments, the secretary general of oil exporting group OPEC said on Thursday.

SEOUL: Hyundai Engineering & Construction Co Ltd has won a 2.1 trillion won ($1.9 billion) order to build deep-sea oil transportation and treatment facilities from the Satah Al Razboot ( SARB) oil field in the United Arab Emirates.

BEIJING: Manufacturing activity across Asia expanded in April, widely watched barometers showed Monday, suggesting that the region's export-dependent economies were continuing to recover.