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US stocks lose $2.2 trillion in six days
Thu Aug 27, 2015 9:5AMAsian stocks take heart from a sharp rebound in US shares, breaking a six-day losing streak which plunged global markets into mayhem.
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Transocean cuts dividends on revenue fall
Wed Aug 26, 2015 4:52PMTransocean offshore platforms operator cuts dividends as company’s revenue falls on oil price slump.
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Liberia oil company dismisses all staff
Tue Aug 25, 2015 6:5PMLiberia oil company says it is laying off its entire staff to save company from collapse as oil prices continue to fall.
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ADB approves $1.2bn package for Pakistan
Tue Aug 25, 2015 2:11PMThe Asian Development Bank announces its decision to extend new annual package worth $1.2 billion to Pakistan.
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Stock markets rebound as China cuts rates
Tue Aug 25, 2015 12:58PMGlobal stock markets rebound as China cuts its key interest rates to help economy.
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Carnage on markets spurs meltdown fears
Mon Aug 24, 2015 3:10PMA continued selloff in Chinese shares is wreaking havoc across the global market, with the US industrial average Dow tumbling more than 1,000 points.
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PG stocks lose in value as oil prices fall
Sun Aug 23, 2015 5:17PMStock prices in Persian Gulf littoral states fall as oil prices continue to plunge in international markets.
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Triple whammy hits global stocks
Fri Aug 21, 2015 7:16AMStocks sink worldwide caused by a triple whammy of China fears, falling oil price and confusion about US interest rates.
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Oil prices slump to six-and-half-year low
Thu Aug 20, 2015 6:33AMOil prices slide to their lowest levels in six and half years on new data showing a surprise rise in US petroleum inventories.
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S. Korea approves Hana-KEB bank merger
Wed Aug 19, 2015 6:14PMSouth Korea’s financial watchdog approves a merger between Hana financial Group and Korea Exchange Bank.
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China banks get money to lift economy
Wed Aug 19, 2015 5:7PMThe central bank of China injects about USD 100 billion into banks to spur the country’s sluggish economy.
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Wood Group cuts jobs on oil price slump
Tue Aug 18, 2015 5:44PMThe Scotland-based Wood Group energy company has laid off 13 percent of its employees since the end of 2014.
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Emirates Airline resumes Baghdad flights
Tue Aug 18, 2015 3:45PMDubai's Emirates Airline says it is planning to resume flights to the Iraqi capital, Baghdad.
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Russia Gazprom challenged by output fall
Sun Aug 16, 2015 1:29PMRussia’s energy giant, Gazprom, is grappling with major challenges as its production slumps on the back of decreasing oil prices.
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Ukraine says still needs Russian gas
Sat Aug 15, 2015 5:48PMUkrainian officials say the country cannot survive winter without Russian gas supplies.
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Saudi Arabia going broke under huge costs
Thu Aug 13, 2015 6:59PMSaudi Arabia is burning through its foreign reserves at an alarming pace in the wake of the oil price slump and a sharp rise in military spending.
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Yuan fall fuels China-West currency war
Thu Aug 13, 2015 8:37AMChina devalues the yuan for the third straight day, raising new fears that the measure could bring a fresh wave of price weakness to the West and trigger a currency war.
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Russia's ruble slides on Chinese yuan cut
Wed Aug 12, 2015 5:8PMRussia’s national currency loses value after China devaluates yuan against the US dollar.
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Oil prices fall in Asia over China worries
Wed Aug 12, 2015 1:46PMOil prices take a tumble in Asian market trade due to dealers’ worries over China economy.
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Google’s surprise comes with new company
Tue Aug 11, 2015 4:34PMUS-based tech giant, Google, forms new parent company called Alphabet as part of its restructuring plan.
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OPEC raises 2015 oil demand forecast
Tue Aug 11, 2015 12:49PMThe Organization of the Petroleum Exporting Countries increases its oil demand forecast despite turbulence in international markets.
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Scotland bans cultivation of GM crops
Sun Aug 9, 2015 1:8PMThe officials in Scotland take steps to ban cultivation of genetically modified crops.
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China consumer inflation hits 1.6%
Sun Aug 9, 2015 11:48AMA report released by Chinese government says the country’s consumer inflation has increased to 1.6 percent in July.
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Russia destroys contraband on ban anniv.
Thu Aug 6, 2015 2:14PMRussia was marking the first anniversary of its embargo on Western agricultural products with planned destruction of smuggled goods on Thursday.
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British bank cuts dividend on profit fall
Wed Aug 5, 2015 2:16PMThe British Standard Chartered slashes dividend by 50 percent due to profit fall in first half of the year.
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UK oil firm investigated for corruption
Tue Aug 4, 2015 3:11PMA British oil company headed by a former politician is accused of corruption in Somalia.
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Gaza poverty at 38.8% due to blockade
Sat Aug 1, 2015 5:34PMActivists say the poverty rate in the Gaza Strip has reached as high as 38.8 percent.
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Western oil giants on job cutting spree
Thu Jul 30, 2015 1:8PMRoyal Dutch Shell has joined a growing list of Western energy giants in announcing broad cuts to jobs and investments amid expectations a “deep downturn”.
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Microsoft releases all-device Windows 10
Wed Jul 29, 2015 3:56PMThe US-based tech giant, Microsoft, rolls out the latest version of Windows operating system in 190 countries.
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Mexico Pemex reports $5.2 bn in Q2 loss
Tue Jul 28, 2015 5:43PMMexico’s state-owned oil company reports $5.2 bn of losses for the second quarter of the year.
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Vodafone to lay off 1,300 employees
Tue Jul 28, 2015 5:17PMBritain’s telecom company, Vodafone, is planning to lay off up to 1,300 workers from its Spanish division.
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Kuwait signs new refinery contracts
Tue Jul 28, 2015 2:57PMKuwait National Petroleum Co. signs new contracts with international consortia to build new refinery.
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Oil giants shelve $200bn in new projects
Mon Jul 27, 2015 5:13PMMajor oil and natural-gas companies around the world have shelved $200 billion of spending on new projects following the slump in crude prices.
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Chinese stocks plunge 8.5%
Mon Jul 27, 2015 4:51PMChinese stocks have fallen more than 8 percent, in the sharpest one-day plunge since 2007.
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Saudi firm plans US shale gas investment
Mon Jul 27, 2015 10:47AMSaudi Arabia’s SABIC says it plans investment in US shale gas projects to source feedstock for its plants in the UK.
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Saudi SABIC reports 21.68% profit fall
Sun Jul 26, 2015 4:15PMSaudi Arabia's petrochemical giant, SABIC, reports 21.68 percent decline in net profits.
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IMF warns Japan faces staggering debt
Fri Jul 24, 2015 6:14AMThe International Monetary Fund has warned that Japan’s debt could rise three times the size of its economy by 2030.
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French EDF to repay €1.37bn in back tax
Wed Jul 22, 2015 2:46PMEuropean Commission orders France's EDF to repay 1.37 billion euros in tax arrears.
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Oil prices fall over Iran expectations
Tue Jul 21, 2015 4:48PMOil prices in international markets further fall due to concerns about return of Iran's crude and worsening oversupply.
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Toshiba president resigns over scandal
Tue Jul 21, 2015 12:41PMPresident of Japan's Toshiba, along with a number of top executives, resigns over USD 1.2-bn scandal.
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Official defends China growth rate as ‘real’
Sun Jul 19, 2015 6:24PMA Chinese official defends the country’s latest growth rate as “truthful.”
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Boeing warns of aircraft panel flaw
Sun Jul 19, 2015 8:32AMUS-based Boeing aviation giant has warned against flaw in landing gear panel after an incident in Shanghai.
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Greek banks to reopen amid cash concerns
Sat Jul 18, 2015 6:20PMGreek banks are reopening Monday after a forced 3-week closure.
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China reveals gold reserves after six years
Sat Jul 18, 2015 10:35AMChina has ended six years of concealing its gold reserves, announcing a 57% rise in its hoard which puts it in the top five with the largest stash of the precious metal.
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Canada cuts lending rate to curb recession
Wed Jul 15, 2015 5:17PMCanada’s central bank cuts lending rate to stimulate economy, curb recession.
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Toyota recalls 625K Prius cars over defect
Wed Jul 15, 2015 4:6PMJapan's automaker, Toyota, recalls 625,000 Prius cars over defect that causes vehicle to suddenly stop.
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German investor sentiment at 8-month low
Tue Jul 14, 2015 5:25PMGerman investor sentiment hits its lowest level in eight months, but country’s economic outlook remains positive.
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Oil prices fall on Iran nuclear conclusion
Tue Jul 14, 2015 1:0PMOil prices in international markets have plummeted after Iran and the P5+1 group declared conclusion of their nuclear talks.
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Oil prices fall amid Iran deal optimism
Mon Jul 13, 2015 1:29PMCrude prices have tumbled more than one dollar per barrel amid rising hopes that Iran and the P5+1 Group of countries reach a final deal over Tehran’s nuclear program.
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Greece submits to eurozone bailout terms
Mon Jul 13, 2015 7:36AMEurozone leaders have reached a unanimous agreement on extending a bailout loan to Greece, European Council President Donald Tusk says.
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Germany mulling 'temporary Grexit' plan
Sat Jul 11, 2015 6:17PMEurozone finance ministers gather in Brussels to decide whether to negotiate a third bailout for Greece.
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Putin: Let's trade in BRICS currencies
Fri Jul 10, 2015 6:26AMPresident Vladimir Putin says Russia is interested in using national currencies with other BRICS members after agreeing on such an arrangement with China.
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Microsoft cuts 78,00 jobs in major layoff
Wed Jul 8, 2015 3:41PMWorld’s computer software giant, Microsoft, plans to cut about 8,000 jobs in its second major layoff.
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Oil prices rise after Greece-related fall
Wed Jul 8, 2015 3:3PMOil prices in international markets rise on Wednesday after an earlier drop over Greece debt crisis concerns.
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HSBC bankers stage mock ISIL beheading
Wed Jul 8, 2015 9:59AMEurope’s biggest bank HSBC has sacked six employees after a video emerged showing them carrying out ISIL-style "mock beheading".
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Saudis plan $10 billion investment in Russia
Tue Jul 7, 2015 10:57AMSaudi Arabia plans to invest up to $10 billion in Russia over the next five years in the latest bid by the kingdom to endear itself to a traditional energy rival.
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Oil prices drop as Grexit prospect grows
Tue Jul 7, 2015 1:33AMOil prices have plunged amid concerns that Greece may have to leave the eurozone after Greeks voted ‘No’ to the conditions of a bailout package.
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Markets in choppy waters as Grexit looms
Mon Jul 6, 2015 5:5AMAsian markets started Monday on a negative note after Greeks voted ‘No’ to new harsh bailout terms in a referendum.
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China mulls $19bn fund to help stocks
Sun Jul 5, 2015 5:5AMChina has announced plan to establish USD19bn fund in a bid to support its plunging stock market.
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Hochtief JV wins Saudi airport deal
Sat Jul 4, 2015 6:25PMGermany's Hochtief will lead a JV to upgrade and expand King Khaled International Airport in Riyadh, Saudi Arabia.
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China brokers to help curb market plunge
Sat Jul 4, 2015 6:14PMChina's brokerage firms say they'll invest more than $19 billion in the country's stock markets to curb its precipitous fall.
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Is Saudi-Russian oil alliance in the making?
Fri Jul 3, 2015 10:36AMA recent visit by an emissary of the Saudi king to Russia has sparked a torrent of speculation, with some observers seeing it as the first sign of an emerging partnership between the two greatest global oil producers.
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Canada likely headed for recession
Fri Jul 3, 2015 2:19AMThe Canadian economy is likely headed for recession, two major banks say.
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Saudi prince to give $32 billion to ‘charity’
Thu Jul 2, 2015 2:56PMSaudi Prince Alwaleed bin Talal says he plans to give away his entire fortune of $32 billion to charity in the coming years.
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France’s public debt jumps to $2.3 trillion
Thu Jul 2, 2015 12:59PMFrance's public debt has jumped to more than $2.3 trillion, driven higher partly by central state spending, the state statistics agency Insee has said.
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Oil prices drop over Greece concerns
Wed Jul 1, 2015 5:24PMOil prices plummet in international markets over Greece debt crisis
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Greek pensioners besiege banks for cash
Wed Jul 1, 2015 3:16PMGreek pensioners besiege banks to withdraw cash from their state pensions after the country fails to pay IMF loan installment.
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Russia halts gas supplies to Ukraine
Wed Jul 1, 2015 12:34PMRussia halts supplying natural gas to Ukraine after pricing talks between Moscow and its western neighbor fail.
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Greece not to pay IMF loan: Finance min.
Tue Jun 30, 2015 1:21PMGreek finance minister says his country will not pay International Monetary Fund’s loan installment due on Tuesday.
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China starts building Siberia gas pipeline
Tue Jun 30, 2015 12:20PMChina starts building its share of ‘Power of Siberia’ pipeline, which will take Russian natural gas to its southern neighbor.
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Global stocks tumble amid Greece fears
Mon Jun 29, 2015 2:11PMStocks markets around the world have sharply declined amid growing fears that Greece may default on debts and leave the eurozone.
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EU's Juncker feels 'betrayed' by Greece
Mon Jun 29, 2015 11:19AMEuropean Commission head has criticized the Greek government, arguing that he feels "betrayed" by Athens' "egotism".
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Vietnam to end foreign investment limits
Sun Jun 28, 2015 9:33AMVietnamese government plans to ease foreign investment attraction by some local companies.
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Ethiopia builds Africa’s largest wind farms
Sun Jun 28, 2015 6:59AMEthiopia building largest wind farms in Africa by taking advantage of rocky hills in its highlands.
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Russia extends ban on EU, US food
Fri Jun 26, 2015 9:55AMPrime Minister Dmitry Medvedev has extended ban on products imported from the West which has imposed sanctions against Russia.
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Greece bankruptcy looms amid deadlock
Thu Jun 25, 2015 11:54AMPM Alexis Tsipras was meeting with Greece’s lenders Thursday amid an ultimatum given to Athens to come up with a new austerity plan to get bailout or go bankrupt.
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Oil prices fall in Asia over Iran concerns
Tue Jun 23, 2015 6:4PMOil prices fall in Asian markets over possible market return of Iranian crude and subsequent supply glut.
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Euro loses value over Greek deal concerns
Tue Jun 23, 2015 5:22PMEurozone’s single currency loses values as investors await possible deal on Greece’s debt.
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Gazprom lays bare West’s vulnerability
Tue Jun 23, 2015 5:56AMEurope’s efforts to reduce dependence on the Russian energy have been dealt a new blow after reports that the Anglo-Dutch energy behemoth Shell was teaming up with Gazprom on several projects.
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Oil, stocks up on Greek deal hopes
Mon Jun 22, 2015 3:15PMOil prices have slightly risen amid growing optimism about a deal between Greece and its international lenders which could avert the bankruptcy of the eurozone country.
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‘Qatar gas reserves to last 138 years’
Sun Jun 21, 2015 2:48PMA new study shows Qatar can maintain its gas production at current rates for another 138 years.
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Athens does not need IMF help: Min.
Sun Jun 21, 2015 10:4AMGreece’s minister of state says Athens does not need help from International Monetary Fund.
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India confirms bid to join Russia-led bloc
Fri Jun 19, 2015 5:39AMIndia has confirmed that it will sign a free trade agreement with the Eurasian Economic Union (EEU) -- a Russia-led bloc which is attracting more emerging powers.
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Oil prices drop despite falling US reserves
Wed Jun 17, 2015 5:52PMDespite seventh weekly drop in US crude reserves, oil prices continue to fall in global markets.
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‘Grexit possible if bailout deal fails’
Wed Jun 17, 2015 12:5PMGreek Central Bank says the country may leave the EU and eurozone if it fails to reach a deal with international creditors on a bailout deal.
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Norway’s Statoil to cut 1,500 more jobs
Tue Jun 16, 2015 4:26PMThe Norwegian energy giant, Statoil, plans to slash up to 1,500 more jobs amid plunging oil prices.
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UAE vows to keep building craze alive
Tue Jun 16, 2015 7:53AMThe United Arab Emirates insists that it will continue with infrastructure investments despite the recent decline in international oil prices.
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Global stocks down amid Greece fears
Mon Jun 15, 2015 1:55PMGlobal stocks have fallen after aid-for-austerity talks between Greece and its creditors collapsed.
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Record rise in China stocks value
Sun Jun 14, 2015 6:0PMThe value of Chinese stocks rose above $10 trillion for the first time.
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‘Iraq oil money short of budget projections’
Sat Jun 13, 2015 4:38PMIraqi prime minister says the country’s oil revenues are not enough to cover budget projections.
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Bild: Germans prepare for Greek bankruptcy
Fri Jun 12, 2015 6:13AMThe German government is weighing what to do if the Greek state goes bankrupt, the daily Bild reported on Friday.
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Lebanon ministry to audit govt. accounts
Thu Jun 11, 2015 2:31PMThe Lebanese Finance Ministry will continue auditing government accounts, Finance Minister Ali Hasan Khalil has said.
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OPEC: Saudis continue to flood oil market
Thu Jun 11, 2015 2:4PMOPEC says Saudi Arabia continues to flood the international market with its oil at the highest production levels in three decades.
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Qatar faces 1st budget deficit in 15 yrs
Wed Jun 10, 2015 4:8PMThe Persian Gulf state of Qatar faces budget deficit for the first time in 15 years due to oil price slump.
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HSBC declares plans to cut about 50K jobs
Tue Jun 9, 2015 11:58AMHSBC announces plans to cut about 50,000 jobs to reduce costs and bolster shareholders’ returns.
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Report: China to have veto at new bank
Tue Jun 9, 2015 10:27AMA new China-led infrastructure bank aims to differentiate itself from other lenders with a leaner, more efficient structure that ultimately gives Beijing veto power over major decisions, people close to the institution say.
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'UAE set to post 1st deficit in years’
Mon Jun 8, 2015 5:43PMThe United Arab Emirates is set to post its first deficit since 2009, says the IMF.
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Deutsche Bank's co-chiefs resign
Sun Jun 7, 2015 5:51PMDeutsche Bank announced Sunday its co-chief executives are stepping down.
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Creditors' proposals aggressive: Greece
Sun Jun 7, 2015 4:2PMGreece’s finance minister describes as 'aggressive' a list of proposals by its international creditors.
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‘OPEC not losing influence to US shale’
Sun Jun 7, 2015 8:0AMOil industry analysts say despite fears about growing influence of US shale oil, OPEC is still the main player in international oil market.
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Record oil exports for Iraq’s Kurdistan
Sat Jun 6, 2015 5:47PMIraq’s Kurdistan region has reported a record level of oil exports for May.
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IMF agrees $833mn emergency loan to Iraq
Sat Jun 6, 2015 5:27PMThe IMF says it plans to provide Iraq with an emergency loan of $833 million.
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‘OPEC keeps output of 30 million bpd’
Fri Jun 5, 2015 11:58AMOPEC decides to maintain its current output of 30 million barrels per day, the Saudi oil minister says.
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Counterfeit goods take UAE by storm
Thu Jun 4, 2015 4:9PMAuthorities in the United Arab Emirates have seized and destroyed nearly 5,000 used mobile phones which were passed to customers as brand new.
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Saudi foreign labor law sparks backlash
Thu Jun 4, 2015 3:16PMIndia has halted a potential flow of thousands of workers to Saudi Arabia due to a controversial law implemented by Riyadh.
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India’s Iran oil imports hit 14-month high
Wed Jun 3, 2015 3:3PMNew figures show India’s imports of crude oil from Iran have hit their highest since March 2014.
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Scandal-hit HSBC plans 20,000 job cuts
Wed Jun 3, 2015 6:13AMEurope’s biggest bank HSBC is reportedly planning to axe as many as 20,000 jobs amid a stream of scandals, including its role in tax evasion and rigging foreign exchange markets.
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Lebanon bent on choking terrorism funding
Tue Jun 2, 2015 3:52PMLebanon is taking steps to tighten the noose on terrorism funding and money laundering.
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Eurozone inflation rises to 0.3% in May
Tue Jun 2, 2015 3:21PMAccording to the latest figures, inflation rate for the 19-member eurozone has risen to 0.3% in May.
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US consumer spending unexpectedly flat
Mon Jun 1, 2015 3:24PMA new report suggests that US consumer spending was unexpectedly flat in April.
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Housing prices skyrocket in S Arabia
Mon Jun 1, 2015 1:31PMThe price of housing in Saudi Arabia have skyrocketed, according to Arab media.
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Government: Saudi exports sharply down
Mon Jun 1, 2015 10:42AMSaudi Arabia, the Middle East’s biggest economy, witnessed an 8.9% drop in exports in 2014 a fresh report by the government said.
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India records faster growth than China
Sun May 31, 2015 5:59PMFigures show successful economic performance for Indian PM Modi.
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Study shows stress haunting ME workers
Sun May 31, 2015 12:44PMStress is the biggest health risk for workers in the Middle East, a fresh study finds.
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Saudi stock market eying foreign capital
Sun May 31, 2015 7:33AMSaudi Arabia’s stock market undergoing dramatic fluctuations as the country eyes foreign investments.
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India’s RBI mulls 3rd interest rate cut
Sun May 31, 2015 5:57AMThe Reserve Bank of India is set for third reduction of interest rate in a year
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Russia to remedy bans by Islamic banking
Sat May 30, 2015 6:8PMRussia's Sberbank says it plans to use Islamic baking to ease effects of sanctions.
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Forex scandal exposes West’s dirty laundry
Thu May 28, 2015 1:6PMA new scandal involving leading financial institutions in Europe and the US has been added to the list of previous cases.
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Ford recalls half a million more cars
Thu May 28, 2015 5:19AMUS automaker Ford has recalled nearly half a million cars and SUVs in North America after several crashes over a steering problem.
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India's Tata Motors profits fall 56%
Tue May 26, 2015 4:57PMQuarterly net profits of India's largest carmaker, Tata Motors, decreases 56 percent.
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Algeria records $4.3bn trade deficit
Tue May 26, 2015 2:33PMAlgeria records a USD 4.3 billion trade deficit for the first fiscal quarter of 2015.
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Saudis set to maintain oil output levels
Tue May 26, 2015 10:35AMPersian Gulf oil-producers, led by Saudi Arabia, are set to keep their current rate of crude production, analysts revealed on Tuesday.
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UAE banks to come under scrutiny
Mon May 25, 2015 6:31PMThe UAE Banks Federation approves a new independent monitoring agency to monitor dozens of banks.
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Oman to boost water infrastructure
Mon May 25, 2015 2:44PMOman is set to spend $6.5bn to expand and modernize its infrastructure.
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UAE to answer to US on subsidy scandal
Mon May 25, 2015 12:42PMUAE-based Etihad Airways is set to officially answer questions from Washington over unfair business competition with US airlines.
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Qatar bank deposits decline
Mon May 25, 2015 12:18PMBank deposits in Qatar are on the decline, says the country’s national bank.
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Renault reaches deal in Turkey
Sun May 24, 2015 12:17PMRenault says it has offered a cash payment to striking workers in western Turkey.
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Brazil autoworkers wary as sales slump
Sun May 24, 2015 9:14AMWorkers feeling insecure as Brazil carmakers see slump in business
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Russia talks tough over Ukraine debt
Sat May 23, 2015 12:22PMRussia says it will adopt a "tough stance" if Ukraine defaults on its debt.
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Kuwait receives war damages from Iraq
Fri May 22, 2015 3:6PMThe Kuwaiti government receives $2.97 billion in war damages from the Iraqi government.
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‘UAE businesses to post lower profits’
Fri May 22, 2015 2:48PMRetailers in the United Arab Emirates expected to post lower profit margins this summer.
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Tunisia economy grows at slower rate
Fri May 22, 2015 10:33AMThe economy of Tunisia has seen its worst growth in the past three years, according to new figures published by a national statistics center.
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Report: Dubai house prices to fall further
Thu May 21, 2015 2:37PMThe residential real-estate market in Dubai is set to shed more value, according to a fresh report.
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Saudi Arabia insists it can face oil price fall
Thu May 21, 2015 2:14PMThe central bank of Saudi Arabia has insisted that the recent slump in oil value had not hurt the country’s economy.
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Oman cuts public spending by 20%
Thu May 21, 2015 1:41PMThe Persian Gulf state of Oman has its public spending by a whopping 20 percent at the beginning of this year, a new government report shows.
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'Four out of 10 think UAE in recession’
Thu May 21, 2015 12:58PMFour out of 10 consumers believe the United Arab Emirates is in a financial recession, says a report.
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China-Brazil deals fire up BRICS ascent
Thu May 21, 2015 9:35AMChina’s prime minister has wound up his three-day visit to Brazil after signing 53 trade and investment deals.
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Renault budget car aims at India market
Wed May 20, 2015 5:26PMThe French Renault develops budget car for India to secure foothold in the country’s competitive market.
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Total makes Russian gas field operational
Wed May 20, 2015 2:35PMFrance’s oil giant, Total, starts production from Russia’s Termokarstovoye gas field in northern Siberia.
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EU authorizes bid for Spain's Jazztel
Tue May 19, 2015 5:55PMEuropean Commission clears the French company, Orange, to acquire Spain’s Jazztel
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Sweden fines banks over money laundering
Tue May 19, 2015 4:39PMSweden authorities fine the country's two biggest banks for money laundering.
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Oil prices fall over market glut
Tue May 19, 2015 2:55PMGlobal oil prices fall as Saudis keep markets oversupplied despite low demand
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OPEC sees bright future for oil prices
Mon May 18, 2015 5:46PMAn OPEC official says oil prices could rebound further this year amid signs of growth in global demand and falling high-cost production.
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Yemen crisis weighs in on Arab markets
Sun May 17, 2015 6:22PMThe Saudi-led war on Yemen continues to send shock waves to financial markets across the Middle East and North Africa.
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KSA expected to up trade with US
Sun May 17, 2015 5:17PMSaudi Arabia is set to boost trade ties with the US in 2015.
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Qatar’s 2015 inflation seen at 2.5%
Sun May 17, 2015 3:22PMA new study says population growth may push the country's overall inflation rate to 2.5% in 2015.
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KSA, Kuwait 'falling behind' on talent
Sat May 16, 2015 5:20PMReport shows Saudi Arabia and Kuwait are not doing enough to develop talent.
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BRICS to have own bank by year-end
Sat May 16, 2015 3:44PMBRICS New Development Bank (NDB) will be operational by the end of 2015.
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India, China signs deals worth $22bn
Sat May 16, 2015 1:57PMIndia and China have signed 26 deals worth around $22 billion.
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US, Arab airlines war gets nasty
Sat May 16, 2015 10:10AMA war is brewing up between top US airliners and their rivals in the Middle East which could have unwarranted ramifications.
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Afghan aviation wings clipped under US
Fri May 15, 2015 5:53PMThe US has poured more than $500 million into the Afghan civil aviation since 2002 but the sector is unable to operate independently, an American audit has found.
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Petrodollars behind Senegal war on Yemen
Fri May 15, 2015 12:58PMSenegal’s support for the ongoing Saudi war on Yemen is only for hard petrodollars.
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Saudis take Yemen ’a century backwards’
Fri May 15, 2015 12:25PMThe ongoing Saudi war on Yemen has brought the impoverished country's economy about several decades backwards, according to a report.
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100k counterfeit goods destroyed in Tunisia
Fri May 15, 2015 11:51AMNearly 100,000 counterfeit products have been destroyed by Tunisian authorities in the latest crackdown on fake products.
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Saudi Arabia continues oil market war
Thu May 14, 2015 4:9PMSaudi Arabia carries on with increasing oil production in an alleged bid to take away market share from US producers.
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Unfriendly UAE seeks trade in Iraq, Yemen
Thu May 14, 2015 3:39PMThe UAE plans to invest in Iraq and Yemen to in a bid to boost its own economy, says the country's economic minister.
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Dubai private sector activity low
Thu May 14, 2015 3:9PMPrivate business activity in the biggest city of the United Arab Emirates is at its lowest level since 2013.
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Giant Saudi-UAE firm faces prosecution
Thu May 14, 2015 2:43PMA joint Saudi- and Emirati-owned giant telecommunications corporation faces trial for illegal activities.
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Greek economy back into recession
Wed May 13, 2015 4:57PMNew data show that Greece’s economy has slipped back into recession after contracting by 0.2 percent in Q1.
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Toyota, Nissan recall 6.5mn cars
Wed May 13, 2015 4:28PMJapan's giant carmakers, Toyota and Nissan, recall 6.5 million cars globally over exploding airbags.
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KSA OKs foreign investment with limits
Tue May 12, 2015 6:25PMSaudi Arabia finally allows foreigners to invest in its stock markets but with limits.
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Oil prices rise on falling dollar
Tue May 12, 2015 5:19PMGlobal oil prices go up as dollar loses in value, making crude cheaper for buyers using stronger currencies.
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ADB allocates $6bn to Pakistan projects
Tue May 12, 2015 3:10PMAsian Development Bank approves allocation of $6 billion to infrastructure projects in Pakistan.
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KSA stocks decline over Yemen war
Tue May 12, 2015 2:34PMSaudi Arabia’s major stock index, Tadawul, loses in value amid concerns about ongoing aggression against Yemen.
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Euro down amid Greece concerns
Mon May 11, 2015 2:35PMThe euro has slipped amid concerns over the future of Greece in the eurozone.
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Oil prices hold steady in Asia market
Mon May 11, 2015 6:1AMOil prices hold steady in Asia mainly thanks to interest rate cut by China.
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OPEC daily output 31 million in April
Sat May 9, 2015 6:32AMOPEC produced 30.93 million barrels of crude oil per day in April, well above the energy bloc’s current ceiling.
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China exports take nosedive in April
Fri May 8, 2015 7:21AMChina’s year-on-year exports have fallen 6.4 percent in April as trade surplus continues to rise.
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Oil prices up as market seeks strength
Tue May 5, 2015 4:52PMOil prices grow as market struggles to build on last months’ strong gains.
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Boeing eyeing niche in Iran market
Tue May 5, 2015 12:46AMA Boeing official says the aerospace manufacturer expects a “very strong” demand in Iran.
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Oil prices slip on US supplies
Mon May 4, 2015 4:44PMCrude prices have declined after hitting 2015 high above $67 per barrel on ample US crude oil supplies and weak Chinese factory activity.
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Oil prices fall over Iraq output hike
Sun May 3, 2015 6:51AMGlobal oil prices have fallen after Iraq announces recording the highest level of oil crude exports in decades.
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Russia ratifies $100bn BRICS fund
Sat May 2, 2015 9:25PMRussia ratifies a new treaty to establish a $100-billion reserve fund for the BRICS group of five leading emerging economies.
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Iraq reports record oil export figure
Sat May 2, 2015 1:17PMIraq says its oil exports in April reached the highest level in decades.
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EU, Turkmenistan ink gas pipeline deal
Sat May 2, 2015 11:50AMThe EU says it has reached a deal with Turkmenistan to engage it in Southern Gas Corridor.
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Athens needs no loan if debt plan changed
Sat May 2, 2015 11:18AMGreek Finance Minister Yanis Varoufakis says Athens needs no new loan its debts is restructured.
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Ukraine oil takes Russian Gazprom to court
Sat May 2, 2015 7:2AMUkraine is seeking billions of dollars from Russia's Gazprom over a gas dispute.
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Study: US housing crisis worsens
Fri May 1, 2015 6:44PMMore than one in four Americans have to use at least half their family income on housing and utilities, a US study has found.
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China new policy aims to stimulate housing
Fri May 1, 2015 9:10AMThe fall in China housing prices slows down after authorities loosen regulations.
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Oil prices slide following temporary rise
Fri May 1, 2015 7:43AMOil prices fall in Friday after a transient rise on Thursday over first drop in US stockpiles and a weakening dollar.
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OPEC, Russia becoming unlikely allies
Wed Apr 29, 2015 7:55AMThe slump in oil prices is leading to an unlikely convergence of interests between Russia and OPEC which have traditionally seen each other as rivals.
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Britain’s BP reports Q1 profit loss
Tue Apr 28, 2015 4:36PMBritain’s oil giant BP reports a sharp drop in 2015 first-quarter profits.
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PetroChina Q1 net profit plunges 82%
Tue Apr 28, 2015 8:25AMChinese energy giant PetroChina said its net profit plunged 82 percent year-on-year in the first three months of the year.
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Dollar struggles to make gains
Tue Apr 28, 2015 4:34AMThe dollar edged up Tuesday in tradings in Asia.
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Heavy price tag for UK exit from EU
Mon Apr 27, 2015 6:17PMA new study shows that UK possible exit from the EU may cost the country more than £200 billions.
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China firm to build refinery in Russia
Mon Apr 27, 2015 7:6AMA Chinese firm plans to build an oil refinery in Russia.
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Greece wants deal with lenders by May
Sun Apr 26, 2015 8:39AMGreece prime minister says his country seeks a reform deal with lenders by early May.
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‘Ghana can drill in disputed waters’
Sun Apr 26, 2015 5:43AMAn international tribunal rules that Ghana can continue ongoing oil drilling in disputed waters with neighboring Ivory Coast.
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Russia urged to join new Silk Road project
Sat Apr 25, 2015 5:52PMChina has called on Russia to join its new Silk Road trade link initiative.
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Russia, Argentina to ditch dollar
Sat Apr 25, 2015 11:23AMRussia says it will consult with Argentina on ditching the US dollar in their mutual trade.
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No cash for Greece till full reform deal
Sat Apr 25, 2015 4:55AMEurozone finance ministers warn that Greece will get no bailout fund until it agrees a complete economic reform plan.
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HSBC mulls keeping London hq.
Fri Apr 24, 2015 10:13AMHSBC is considering whether to keep its headquarters in London as British govt. tightens regulations for banks.
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Oil prices fall over ME concerns
Fri Apr 24, 2015 7:2AMConcerns over rising tensions in Middle East cause global oil prices to fall on Friday trade.
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Honda automaker flies first aircraft
Thu Apr 23, 2015 4:11PMThe first jet plane developed by the Japanese automaker Honda has made its maiden flight.
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'Half of US fracking firms to die this year'
Thu Apr 23, 2015 2:22PMHalf of the 41 fracking companies drilling for shale oil and gas in the US will be dead or sold by year-end amid steep crude price declines, Bloomberg reports.
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Oil prices to surge soon: Ex-BP chief
Wed Apr 22, 2015 6:19PMThe former BP chief executive says oil prices are set to rocket soon.
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Russia’s Gazprom rejects EU abuse claim
Wed Apr 22, 2015 2:42PMRussia’s energy giant Gazprom dismisses the EU’s claim of abusing market.
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Norway launches new exploration round
Tue Apr 21, 2015 2:53PMNorway launches its oil and gas licensing round for mature areas including blocks near recently discovered reservoirs.
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IBM earnings dip as sales fall again
Tue Apr 21, 2015 3:40AMIBM has reported lower profits in the first quarter.
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Greece urges public cash reserves
Mon Apr 20, 2015 5:53PMThe Greek government has ordered the public sector bodies to transfer cash reserves to the central bank to help it repay IMF loan.