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  • Jan 29- Bankrupt drugmaker Dendreon Corp has reached a stalking-horse deal with Canada's Valeant Pharmaceuticals International Inc to sell the worldwide rights to its cancer vaccine, Provenge, and certain assets for $296 million. The deal is subject to higher and better bids and extended the bid deadline to Feb. 10 for interested parties to participate in an...

  • WASHINGTON— Key U.S. senators said they want more oversight of the Overseas Private Investment Corporation, the federal government's development finance agency that was the subject of an Associated Press investigation earlier this week into a failed $217 million energy project in western Africa marked by insider connections and questionable due...

  • Jan 29- Colgate-Palmolive Co on Thursday reported a rise in an important sales metric, sending its shares up 6 percent as investors shrugged off a lowered earnings forecast. Net sales suffered because of the strong dollar and weak demand in markets such as Brazil and Europe. Sales were down 7.5 percent in Europe and 10 percent in Africa but rose 4.5 percent in Asia.

  • JOHANNESBURG, Jan 29- South Africa's Reserve Bank left interest rates on hold on Thursday and dampened chances for a rate cut in coming months due to lower oil prices, saying this would require a sustained decline in inflation. "The MPC is of the view that the bar for further accommodation remains high and would require a sustained decline in the inflation rate and...

  • DUBAI, Jan 29- Royal Bank of Scotland plans to sell or close its corporate debt and debt capital markets business in the Middle East and Africa, the latest pullback by the state-controlled lender from emerging markets to focus on its domestic business. This came on top of confirmation in November it was reviewing its options across its Central and Eastern Europe,...

  • HELSINKI/ FRANKFURT, Jan 29- Nokia on Thursday reported strong profits at its core Networks business on the back of surging North American sales, but the shares fell back over an uncertain outlook, higher costs in its Technologies division and a disappointing dividend. The Finnish company, which sold its former flagship phones business to Microsoft last year,...

  • ZURICH, Jan 29- The world's biggest fragrance and flavour maker Givaudan said a challenging business environment meant sales growth this year would likely stay on a similar level to 2014, below the target range it has given for 2010-2015.. Underlying sales grew 3.7 percent last year, below Givaudan's mid-term target of 4.5-5.5 percent growth, to 4.4 billion...

  • HELSINKI/ FRANKFURT, Jan 29- Nokia reported higher than expected profits at its core Networks business on Thursday, on the back of strong sales in North America, but group profits took a knock from higher costs at its Technologies unit which handles its patents and develops new products. The Finnish company, which sold its former flagship phones business to...

  • The Finland- based company said revenue grew to 3.8 billion euros in the period from 3.48 billion euros a year earlier, when it reported a net loss of 26 million euros. CEO Rajeev Suri noted strong growth in all operations— networks, mapping services and technologies and licenses— after selling its loss-making devices and services to Microsoft in April.

  • MISRATA, Libya, Jan 29- A power struggle between two rival governments that threatens to tear Libya apart has started to take its toll on Misrata, an important shipping and industrial hub that had shrugged off the turmoil until now. Oil production has collapsed to a fifth of what Libya used to pump before the NATO- backed uprising, while wheat imports and other...

  • HICKORY, N.C.— CommScope is buying TE Connectivity's telecom, enterprise and wireless businesses for about $3 billion, which will help diversify its operations and broaden its geographic reach. The deal does not include subsea communications or data communications businesses owned by TE Connectivity Ltd.. CommScope, based in Hickory, North Carolina,...

  • KIGALI, Jan 27- International Monetary Fund head Christine Lagarde has warned that African economies could be hurt by a slowdown in China's economy and an imminent hike in United States interest rates. "Momentum is slowing in many advanced and emerging economies, including China- one of Africa's main trading partners," Lagarde told Rwandan lawmakers in the...

  • Russia's 2014 arms sales top $15 bln - Putin Tuesday, 27 Jan 2015 | 10:49 AM ET

    MOSCOW, Jan 27- Russia sold more than $15 billion worth of arms in 2014, President Vladimir Putin said on Tuesday, adding that new signed orders stood at nearly $14 billion. Russia is the world's second-largest arms exporter after the United States. "Russia will expand its presence on such prospective markets and the Asia-Pacific region, Africa, Latin America and...

  • JOHANNESBURG, Jan 27- Wrapping up a monetary policy speech last week, Nigerian central bank governor Godwin Emefiele declared that the naira, which has crumpled to 190 to the dollar with the drop in oil prices, was "appropriately priced". However, when currency dealers in Lagos and other financial centres in Africa and Europe got to work the next morning and turned...

  • Jan 27- 3 M Co, the maker of adhesives and abrasives including Post-it notes, reported a lower-than-expected 2 percent rise in quarterly revenue, hurt by a stronger dollar. The effect was most marked in Europe, Middle East and Africa, where 3 M's sales fell 6.4 percent. Net income attributable to 3 M rose to $1.18 billion, or $1.81 per share, in the fourth quarter ended...

  • Dubai's airport operator released figures Tuesday showing that 70.5 million passengers streamed through the sparkling halls of Dubai International last year. Dubai Airports CEO Paul Griffiths predicts Dubai International will handle a record 79 million passengers this year as it offers "more flights connecting more people to more destinations."

  • Oxfam: Rich countries must support Ebola recovery Tuesday, 27 Jan 2015 | 5:40 AM ET

    ABIDJAN, Ivory Coast— Rich countries must act swiftly to repair battered health systems and get cash to millions of families in the three countries hit hardest by the world's worst Ebola outbreak, the international development agency Oxfam said Tuesday. Though the economies of Sierra Leone, Guinea and Liberia were recording strong growth prior to the...

  • BUCHANAN, Liberia— The auburn-red soil and lush green vegetation lured the foreign investors to Liberia's third-largest city with visions of environmental gold. The Overseas Private Investment Corporation, a little known U.S. government agency 4,700 miles away, backed the venture with $217 million in loan approvals from 2008 to 2011..

  • TRIPOLI, Jan 26- Oil output from Libya, where ports and oilfields have been shut due to fighting, has fallen to 363,000 barrels a day with exports at about 200,000, the oil minister appointed by forces in control of the capital Tripoli told Reuters. Its oil minister, Mashallah Zwai, told Reuters in an interview that Libya is producing 362,780 bpd of oil, showing a...

  • NEW DELHI/ MUMBAI, Jan 26- India is betting that mobile phone vendors, fuel stations and corner stores can help it put basic banking within the grasp of hundreds of millions of its poor people living beyond the reach of traditional bank branches. The regulations announced by the central bank, the Reserve Bank of India, reflect a realization that traditional banks...