South and Southeast Asia
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A Bangladesh factory where Wal-Mart Stores and Inditex inspectors spotted cracks in the wall this month is still making Wrangler shirts for the world's largest apparel maker, U.S.-based VF Corp.
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WASHINGTON, May 17- Turkish Prime Minister Tayyip Erdogan said on Friday Turkey had already significantly reduced its oil imports from Iran, which is under the choke of U.S. sanctions, and further cutbacks would depend on his country's energy needs. "On crude oil, there has been a significant decrease in the amount of oil we import from Iran...
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Maritime pirates are honing their tactics and beefing up their weaponry. Here are the world’s most pirate-infested waters, and learn about individual attacks from each place.
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*Gold prices set to end the week down 5 pct. LONDON, May 17- Gold fell for a seventh straight session on Friday, its longest losing streak in four years, as speculation that the Federal Reserve may soon rein in monetary easing lifted the dollar.
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LONDON, May 17- Budgets are made to be broken- especially when they are written by politicians. The shares of petroleum and mining companies listed on New York, London and other stock exchanges value them as if all these resources will be extracted and burned.
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NEW YORK, May 17- In the financial world, arbitrage is a trading strategy that earns profit by exploiting price differences between markets. "That's the way we look at it," says Prescher, who lives with his wife, Suzan Haskins, in an apartment with a view of Mount Imbabura. "
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MUMBAI, May 17- Standard& Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.
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MUMBAI, May 17- Standard& Poor's reiterated its negative rating outlook on India's credit rating, which is one notch above junk status, warning of risks if the government carries out less reform than the agency says is needed to boost growth. India's benchmark 10- year yield rose 4 basis points to 7.41 percent from levels before the statement.
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*China shuns stimulus despite softer growth track-sources. LONDON, May 17- Copper rose for the second day on Friday, supported by tentative signs of better metals demand in top consumer China, but gains were capped by a stronger dollar and persistent worries about Chinese economic growth.
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*Gold prices set to end the week down 5 pct. LONDON, May 17- Gold fell for a seventh straight session on Friday, its longest losing streak in four years, after comments from a Federal Reserve official that the bank may soon rein in monetary easing lifted the dollar.
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ISLAMABAD, May 17- Islamabad has authorised the export of 100,000 tonnes of wheat to Iran in trade not jeopardised by Western sanctions, to settle dues for electricity supplied to Pakistan's energy-starved border areas, the Commerce Ministry said on Friday.
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*Tension between union, Freeport could spook investors. JAKARTA, May 17- Freeport McMoRan Copper& Gold Inc's Indonesian copper mine should remain closed for an investigation into a tunnel collapse that has left five dead and 23 missing, a trade union leader said on Friday.
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LONDON, May 17- Oil slipped on Friday, staying below $104 a barrel on concern about the strength of demand growth and as policymaker talk of the future removal of U.S. monetary stimulus boosted the dollar. Brent crude slipped 5 cents to $103.73 a barrel by 0825 GMT, and was on course to end the week little changed.
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*China shuns stimulus despite softer growth track-sources. SINGAPORE, May 17- London copper reversed early losses to trade firmer on Friday, tracking gains in Shanghai equities, but is still on course to end a three-week upward streak amid signs Chinese demand is unlikely to pick up strongly as Beijing shuns stimulus measures.
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*MSCI Asia Pacific ex- Japan edges lower. At 0604 GMT, futures for Euro STOXX 50, Germany's DAX and France's CAC were 0.1 to 0.4 percent lower. U.S. equities had sagged on Thursday after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin easing back on the monetary gas pedal this summer and end bond buying late this year.
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*Russia says Iran must take part in proposed Syria talks. SINGAPORE, May 17- Brent futures slipped on Friday, staying below $104 as bleak U.S. economic data revived worries about demand growth in the world's biggest oil consumer, while a stronger dollar also pressured prices. Brent slipped 5 cents to $103.73 a barrel by 0552 GMT.
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*Gold's 7- session drop is longest losing streak in 4 years. SINGAPORE, May 17- Gold fell on Friday for a seventh straight session, in its longest losing streak since March 2009, as the dollar strengthened and investors cut exposure to the precious metal, fearing further drops and choosing equities instead.
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LAUNCESTON, Australia, May 17- Not even renewed physical gold demand from India and China, the world's top buyers, appears to be enough to spark the precious metal's rally, but may be sufficient to stem further losses.
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May 17- Caterpillar Inc has reached a deal to cut $135 million from the price owed for a Chinese mining equipment maker, after accounting irregularities were discovered at the acquired company that forced Caterpillar to take a $580 million impairment charge.
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*MSCI Asia Pacific ex- Japan edges lower. U.S. equities had sagged on Thursday after John Williams, president of the Federal Reserve Bank of San Francisco, said the Fed could begin easing back on the monetary gas pedal this summer and end bond buying late this year.
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*Gold down for 7th straight session, near 4- week low. SINGAPORE, May 17- Gold fell for a seventh straight session on Friday as the dollar strengthened and investors cut exposure to the metal, sending holdings in exchange-traded funds to their lowest in four years.