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 Tough OPEC meeting looms amid specter of oil deficit

Tough OPEC meeting looms amid specter of oil deficit

 OPEC is heading for tougher-than-expected policy talks this week amid concern that its efforts to rebalance the oil market might overshoot by creating a global deficit and spurring a further price rally. “It will not be an easy meeting and we always look at various scenarios,”...

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Fed's Kashkari says no reason to 'tap brakes' on U.S. economy

Fed's Kashkari says no reason to 'tap brakes' on U.S. economy

Minneapolis Federal Reserve Bank President Neel Kashkari on Monday signaled he would continue to oppose raising U.S. interest rates until inflation shows signs of rising toward the Fed’s 2-percent goal. “Because inflation is low, I am seeing no reason to tap the brakes on the...

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Scandal-hit Uber hits the road to reassure global regulators

Scandal-hit Uber hits the road to reassure global regulators

Uber executives are traveling the globe to reassure regulators that the company is changing the way it does business, after a massive data breach became the latest controversy to hurt the ride-service firm’s reputation. Uber Technologies Inc is also continuing talks with Japan’s...

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BMW to spend 6.5-7 percent of sales on R&D in 2018: CFO in Handelsblatt

BMW to spend 6.5-7 percent of sales on R&D in 2018: CFO in Handelsblatt

German carmaker BMW (BMWG.DE) will further raise its spending on research and development next year, to 6.5 to 7 percent of sales, its finance chief Nicolas Peter told German daily Handelsblatt. “That is a lot of money, in absolute numbers it’s around 7 billion euros ($8.3 bln),...

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Samsung Electronics shares drop after Morgan Stanley cuts view, sees chip boom peaking

Samsung Electronics shares drop after Morgan Stanley cuts view, sees chip boom peaking

Samsung Electronics Co Ltd’s (005930.KS) shares fell more than 4 percent to a one-month low on Monday after Morgan Stanley cut its recommendation on the South Korean tech giant, citing concerns that a boom in memory chips is likely to peak soon. A so-called memory chip...

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$10,000 in sight for bitcoin as it rockets to new record high

$10,000 in sight for bitcoin as it rockets to new record high

 Bitcoin’s vertiginous ascent showed no signs of stopping on Monday, with the cryptocurrency soaring to another record high just a few percent away from $10,000 after gaining more than a fifth in value over the past three days alone. The digital currency has seen an eye-watering...

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Saudi Aramco, SABIC to sign MoU on $25 billion oil to chemicals complex - sources

Saudi Aramco, SABIC to sign MoU on $25 billion oil to chemicals complex - sources

 State oil giant Saudi Aramco and Saudi Basic Industries Corp are about to sign a memorandum of understanding to build a complex converting crude oil to chemicals in the kingdom, sources told Reuters on Sunday. The two companies had agreed in June 2016 to conduct a feasibility...

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Prices hike in liberated Syria even with Dollar's rate decline

Prices hike in liberated Syria even with Dollar's rate decline

(Eqtsad)- Despite the decline in the Dollar exchange rate in Syria in general and the liberated areas in particular, people in southern Daraa province continue to complain about the high prices of all materials. Prices of basic materials such as fuel and other materials controlled by...

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Uber seeks to appeal UK workers' rights decision at Supreme Court

Uber seeks to appeal UK workers' rights decision at Supreme Court

 Uber submitted a request to appeal to the Supreme Court a decision by a British tribunal which said its drivers deserved workers’ rights such as the minimum wage, the taxi app said on Friday. Last year, two drivers successfully argued at a British employment tribunal that Uber...

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Saudi aims to issue tourist visas next year, official says

Saudi aims to issue tourist visas next year, official says

Saudi Arabia aims to start issuing tourist visas to foreigners next year, a senior Saudi official told CNN, as the government seeks to open up the conservative kingdom and find new sources of revenue to diversify its economy. At present, foreigners travelling to Saudi Arabia are largely...

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Volkswagen to invest $27 billion in core brand until 2022

Volkswagen to invest $27 billion in core brand until 2022

Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending program aimed at bolstering its position as a maker of electric cars. Most of that sum, around 14 billion euros, will be...

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Turkish, Iraqi officials discuss resuming Kirkuk oil exports

Turkish, Iraqi officials discuss resuming Kirkuk oil exports

A Turkish energy delegation has met with Iraqi top oil officials in Baghdad to discuss issues including the resumption of Kirkuk oil exports via the Turkish port of Ceyhan, Iraq’s oil ministry said in a statement on Thursday. Exports from oilfields in Kirkuk have been on hold since...

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ECB to only ask banks for extra capital for bad loans if talks fail

ECB to only ask banks for extra capital for bad loans if talks fail

The European Central Bank will only ask banks to set aside extra capital for their bad loans via Pillar 2 demands if talks with the lenders on the matter fail, a senior ECB supervisor said on Tuesday. “Only if the results of this structured dialogue do not convince us will we consider...

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Oil trades near $57 as Saudis boost security at crude facilities

Oil trades near $57 as Saudis boost security at crude facilities

Oil traded near $57 a barrel as Saudi Arabia signaled it will raise security at its crude facilities after Bahrain blamed Iran for a fire at a pipeline that connects the two Arab allies. Iran denied it was involved. Futures were little changed in New York after falling 0.8 percent...

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Airbus, Boeing close in on Dubai deals worth $30 billion

Airbus, Boeing close in on Dubai deals worth $30 billion

DUBAI (Reuters) - A battle for orders erupted on day one of the Dubai Airshow on Sunday as Europe’s Airbus and its U.S. arch-rival Boeing prepared to fire opening salvos worth almost $30 billion. Airbus was widely expected to announce a fresh order worth $16 billion at list prices for the...

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Airbus to buy back some A380s in new Emirates deal: sources

Airbus to buy back some A380s in new Emirates deal: sources

DUBAI (Reuters) - Airbus (AIR.PA) will have to buy back or find new homes for some of the older A380s currently operated by Dubai’s Emirates as it finalises a deal to sell new superjumbos to the Gulf carrier, industry sources said on Sunday. The European planemaker is expected to...

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Qatar sells assets in wake of Riyadh corruption crackdown

Qatar sells assets in wake of Riyadh corruption crackdown

As the corruption crackdown in Saudi Arabia reverberates across markets, companies in gas-rich Qatar are selling assets. This week two state-linked firms are divesting assets. Qatar Foundation, a royal family run nonprofit that also operates a joint venture with Vodafone Group PLC, is seeking...

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China's 24-hour online shopping binge nears $16 billion

China's 24-hour online shopping binge nears $16 billion

 Wall Street ended marginally lower on Friday, with losses in Intel and Apple as investors worried about the future of promised corporate tax cuts following dueling plans unveiled by Republican lawmakers. The S&P 500 and the Dow Jones Industrial Average ended the week lower for...

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Iran says Europe's support for nuclear deal not enough: IRNA      EU sources deny report of proposed new nuclear deal with financial aid for Iran      Mass food poisoning at displaced camp in Idlib      Palestinian leader Abbas in hospital for third time in a week -officials      Islamic State quits Damascus enclave, regime media denies it      Polls open in Venezuela election boycotted by opposition      Kurdish militia launches wide conscription campaign      Ebola deaths rise to 26, says Congo health ministry