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Islamic Development Bank gears up for Tunisia summit

Islamic Development Bank gears up for Tunisia summit

Business leaders from Muslim nations will gather in the Tunisian capital on Sunday to review last year's performance by the Islamic Development Bank (IDB), and discuss and approve its development agenda for the year ahead. Representatives of 57 member states, senior government officials...

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China to spend $300M on improved irrigation in southern Xinjiang

China to spend $300M on improved irrigation in southern Xinjiang

The Chinese government will spend 1.875 billion yuan ($298.92 million) to improve irrigation systems in the heavily ethnic Uighur southern part of the violence-prone far western region of Xinjiang, state news agency Xinhua said on Saturday. The government has increasingly turned its...

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Turkey to ease establishment of investment banks

Turkey to ease establishment of investment banks

Turkey will take steps to ease the establishment of investment banks in the country, Deputy Prime Minister Mehmet Simsek said late Thursday. "Now, we will take a further step and make the establishment of investment banks in Turkey easier," Simsek said at an award ceremony in Istanbul....

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Turkey welcomes 3M tourists in first 2 months of 2018

Turkey welcomes 3M tourists in first 2 months of 2018

Turkey welcomed 3 million foreign visitors in the first two months of 2018, the Culture and Tourism Ministry said on Friday. Three million foreign nationals visited Turkey in January and February, up 35 percent from same months in 2017, the ministry said in a statement. Iran...

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US, S. Korea overhaul 6-year-old free trade agreement

US, S. Korea overhaul 6-year-old free trade agreement

The Trump administration says a revamped deal with South Korea will give U.S. carmakers more access to the country and will provide protection from competition. Senior administration officials told The Associated Press Tuesday that the United States reached an agreement to overhaul the...

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SoftBank, Saudi Arabia announce massive solar power project

SoftBank, Saudi Arabia announce massive solar power project

SoftBank Group Corp's Vision Fund will invest in creating the world's biggest solar power project in Saudi Arabia, it said on Tuesday, stepping up its involvement in the kingdom and expanding beyond technology. The project is expected to have the capacity to produce up to 200 gigawatts...

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China stocks end down as consumer firms weigh

China stocks end down as consumer firms weigh

China stocks fell on Wednesday, tracking losses on Wall Street where tech firms were hit hard on concerns over tighter government scrutiny on the industry. At the close, the Shanghai Composite index was down 1.4 percent at 3,122.29, while the blue-chip CSI300 index close down 1.8...

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S.Korean auto workers blast revised trade deal with US

S.Korean auto workers blast revised trade deal with US

Unions at South Korea's two-largest automakers, Hyundai Motor and Kia Motors, say plans to revise a free trade deal with the United States involve concessions that will prevent local automakers from entering the fast-growing U.S. pick-up truck market. Hyundai's labor union said Tuesday that...

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China's opening up not forced by external pressure: commerce minister

China's opening up not forced by external pressure: commerce minister

BEIJING (Reuters) - China’s opening up is self-initiated and will not be forced by pressure from other countries, the country’s commerce ministry said on Sunday on its official Wechat account. Zhong Shan, the head of the ministry of commerce, made the comments during a meeting...

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Moody's: US tariffs manageable for rated Chinese firms

Moody's: US tariffs manageable for rated Chinese firms

The U.S. plan to impose tariffs on Chinese imports and China's planned reciprocal tariffs would have a limited effect on Moody's rated Chinese companies, said the ratings agency on Friday. The impact on Moody's rated Chinese firms would be manageable, as most of them rely heavily on...

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Air France strike as unions turn up heat on Macron

Air France strike as unions turn up heat on Macron

Air France crew went on strike Friday, forcing the cancellation of about a quarter of the airline's flights as unions discussed further protests against reformist President Emmanuel Macron. Pilots, cabin crew and ground staff joined the strike at Air France to push for a 6.0-percent...

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Indexes mixed but Facebook keeps sinking

Indexes mixed but Facebook keeps sinking

U.S. stocks are mixed Tuesday as energy companies climb with oil prices and banks move up along with interest rates. Facebook is dropping again following reports the Federal Trade Commission will investigate its handling of user data and Oracle is plunging after releasing disappointing results...

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China aims to create over 13M jobs in 2018

China aims to create over 13M jobs in 2018

China targets to create over 13 million jobs in 2018, Chinese Premier Li Keqiang said on Tuesday. According to the country’s official Xinhua news agency, Li said the minimal target was 11 million, but the Chinese government will work hard to reach the aim. More than 66 million...

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German investor confidence plunges on trade war fears: survey

German investor confidence plunges on trade war fears: survey

Confidence among investors in Europe's largest economy Germany plunged in March, with a monthly barometer from the ZEW institute dropping to 5.1 points - its lowest level in 18 months. "Fear of a global trade conflict caused by the USA is causing the experts to look more cautiously into...

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US crude exports becoming bigger presence in global oil

US crude exports becoming bigger presence in global oil

NEW YORK (AFP) -  Boosted by surging output, the United States is becoming a significant exporter of crude oil, a shift that is remaking American infrastructure and altering the global petroleum market. Now pumping more than 10 million barrels per day, the US has become the second...

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US Fed to raise rates with trade tensions on horizon

US Fed to raise rates with trade tensions on horizon

WASHINGTON (AFP) -  The Federal Reserve this week will fire the opening salvo in a series of interest rate hikes this year, hoping to get out in front of an expected pickup in inflation. The first rate hike of the year is overwhelmingly predicted by futures markets, analysts and...

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EU starts retaliatory steps against U.S. tariffs

EU starts retaliatory steps against U.S. tariffs

The European Commission called for industry views Friday on a list of U.S. products it will subject to import tariffs, the first step toward measures to counter planned U.S. taxes on European steel and aluminum. The European Union wants to be exempted from U.S. duties of 25 percent on steel and...

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Pound recovers as world supports Britain in spy case

Pound recovers as world supports Britain in spy case

The British pound recovered Friday from weakness prompted by a Russian decision to expel British diplomats, as the world rallied in support for London in a crisis sparked by the poisoning of a double agent, analysts said. World stocks rose slightly at the end of a volatile week as fears...

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