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  • *Germany's Helpling buys Britain's Hassle.com. But whereas Airbnb and Uber quickly built the scale to dominate their markets, online cleaning services is a more open field, with U.S. pioneer Homejoy apparently in retreat after a rapid expansion in the United States, Canada and then Europe. The Homejoy site no longer accepts bookings in Canada, France or Germany,...

  • CAIRO— Egypt's president has approved a new budget for fiscal year 2015-2016, slashing the projected budget deficit to 8.9 percent of gross domestic product, the country's finance ministry said Thursday, in a move likely to please international creditors. Also Thursday, Egypt's currency fell to a new low point against the dollar, the first such drop since...

  • LONDON, July 2- Telecom operator Orange aims to grow revenue from its Africa and Middle East operation by about 5 percent a year through 2018 and is looking for expansion opportunities in the region, Chief Financial Officer Ramon Fernandez said. Orange sees Africa and the Middle East as key to the French company's future, especially since it sold its mobile...

  • Saudi economy accelerates in Q1, may not be sustained Thursday, 2 Jul 2015 | 7:02 AM ET

    DUBAI, July 2- Saudi Arabia's economy accelerated in the first quarter of 2015, showing the world's top oil exporter can cope with low energy prices, but growth may slow as the government faces pressure to rein in spending. The figures indicated Saudi Arabia had offset the impact of oil's 50 percent plunge since mid-2014 with a combination of heavy state...

  • NEW DELHI, July 2- India's oil imports from Iran fell by about 23 percent over January-June as refiners curtailed shipments in the early months of the year to keep volumes within the limits allowed under an interim nuclear deal in place since the end of 2013.. India shipped in 216,500 barrels per day of oil from Iran in the first six months of 2015 compared with...

  • SINGAPORE, July 2- Rallying oil refining margins have ground to a halt in Asia. Currently at a 2015 low, they could drop another 20-30 percent this quarter, led by declining profits in diesel as supply from the Middle East adds to a global glut. But they have almost halved this week to $5.60 with supply of refined products from traditional importers in the Middle East...

  • LAUNCESTON, Australia, July 2- One of the little mysteries this year in Asian oil markets has been the drop in China's diesel exports. Customs data show that China exported 1.303 million tonnes of diesel in the first five months of the year, a drop of 24 percent over the same period in 2014.. It would seem logical that they would have done so as diesel margins have held...

  • South Korea turns to cheap spot crudes as glut grows Thursday, 2 Jul 2015 | 1:05 AM ET

    SEOUL, July 2- Refiners in South Korea, the world's fifth-largest crude oil importer, have stepped up spot purchases this year, buying at prices depressed by an oil glut as they run their plants at high rates to catch strong processing margins. "Refining margins are firm thanks to rising demand triggered by weak oil prices, which has supported higher throughput...

  • July 1- U.S. crude oil futures' discount to Brent, one of the biggest plays in oil, widened to more than $5 a barrel for the first time in three weeks on Wednesday after U.S. government data showed a surprise inventory build. "The bottom line is the overall U.S. stock build is weighing on heavily on WTI, and the Cushing build is adding to that," said Tariq Zahir, an oil trader and...

  • HAVANA/ WASHINGTON, July 1- The United States and Cuba on Wednesday formally agreed to restore diplomatic ties that had been severed for 54 years, fulfilling a pledge made six months ago by the former Cold War enemies. "Cuba is encouraged by the reciprocal intention to develop respectful and cooperative relations between our two peoples and governments," Raul...

  • *OPEC output rises to three-year high. LONDON, July 1- Oil fell to trade further below $63 a barrel on Wednesday after U.S. crude inventories unexpectedly rose, the latest sign of a supply glut that may increase if Iran reaches a nuclear deal with world powers. "The oil market is being literally flooded with OPEC crude oil at present," said Carsten Fritsch, analyst at...

  • DUBAI, July 1- Dubai- based Investbridge Capital, Centum Investment Company and education firm SABIS Holdings have agreed to set up a firm which will invest "hundreds of millions of dollars" establishing schools in Africa, the group said on Wednesday. "We expect to deploy hundreds of millions of dollars in the coming years," Mark DeSario, chief executive of...

  • MONTPELIER, Vt.— GlobalFoundries announced Wednesday it had completed its purchase of IBM's microchip plants in Vermont and New York, giving a new lease on life to a big employer in Vermont and New York's Duchess County. "Today we know that a stable and thriving workforce will remain right here in Vermont. I am extremely encouraged that GlobalFoundries has...

  • *Heathrow plan provides greatest benefits, commission says. Proposals to expand Heathrow in densely populated west London are politically divisive and likely to fuel tensions in the ruling Conservative party. Cameron set the deadline after a government-appointed commission selected Heathrow, Britain's busiest airport, as the preferred location for...

  • POLL-Iran oil exports could jump by 60 pct in a year Wednesday, 1 Jul 2015 | 5:59 AM ET

    LONDON/ BENGALURU, July 1- Iran will increase its oil exports by up to 60 percent within a year if it can agree a nuclear deal with world powers bringing an end to sanctions, a Reuters survey of analysts said on Wednesday. A poll of 25 oil analysts from leading banks and brokerages forecast Iran would be able to raise crude oil output by between 250,000 and 500,000...

  • *Greece not able to repay 1.6 bln euros owed to IMF. *OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell over 1 percent on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund, and as both U.S. and OPEC production hit new records.

  • CAIRO, July 1- After a year in power, Egyptian President Abdel Fattah al-Sisi's aura of invincibility may be fading as he comes under closer scrutiny from a public growing impatient with the same social inequalities that triggered a mass uprising in 2011.. I'm fed up with this entire country, "complained a 35- year-old food cart owner at a crowded market in...

  • *OPEC, U.S. output rises to multi-year highs. SINGAPORE, July 1- Oil prices fell on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund and as both U.S. and OPEC production hit new records. "Iraqi crude production climbed to a record level this month, with OPEC crude oil output estimated to have reached...

  • WASHINGTON, June 30- U.S. exporters large and small scrambled on Tuesday to urge foreign customers not to abandon deals supported by the U.S. Export-Import Bank, which will be forced to halt new business at midnight as its charter expires. Companies affected range from giants including aircraft maker Boeing Co and General Electric Co to small exporters of...

  • CALAIS, France, June 30- Ferry workers on Tuesday threatened to continue their protest on Wednesday after blocking Calais' port for two days, forcing the closure of the Channel Tunnel linking France and England for several hours. Traffic in both directions, halted on early Tuesday afternoon, resumed at around 1500 GMT, Eurotunnel said. Eurotunnel Chief Executive...