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  • 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...

  • NEW YORK— The top legislative body of the United Church of Christ voted Tuesday to divest from companies with business in the Israeli-occupied Palestinian territories, in a sign of the growing momentum of a U.S. protest movement against Israeli policy. Last year, the Presbyterian Church voted to sell stock in a few companies whose products are used by Israel in...

  • *Brazil, Iraq seen as top global oil supply contributors. LONDON, June 30- Massive downward revisions to oil output in Brazil and Iraq have increased the risks for oil markets of going from the current feast to famine within just a few years, leading to a price spike that would give a new boost to the U.S. shale industry. Brazil and Iraq had been expected to add over 2...

  • *TAQA is only listed quasi-sovereign firm in Abu Dhabi. ABU DHABI/ DUBAI, June 30- Abu Dhabi may merge its national energy company into another state-owned business to make the company's crippling debts more manageable and try to turn around its performance, sources familiar with the matter told Reuters. Billions of dollars were spent on assets, with Canada and...

  • Dubai plans to build 3-D printed office building Tuesday, 30 Jun 2015 | 10:05 AM ET

    DUBAI, United Arab Emirates— Fast-growing Dubai, where something new is always being added to the skyline, may have found a way to make construction move even faster. Mohammed al-Gergawi, the United Arab Emirates' minister of Cabinet affairs, said the project is part of a broader effort by the seven-state federation to embrace cutting-edge technology and make it...

  • China, the world's dominant producer, was choking supply and investors were stampeding into the hottest ticket in town. The ensuing bust was equally spectacular with prices collapsing as buyers went on strike and China, under international pressure, loosened its stranglehold. With Molycorp and its Australian peer, Lynas, struggling to stay afloat, all the old...

  • *Glencore seen as main competitor for coal assets deals. Davis set up X2 Resources in 2013 only months after commodity group Glencore took over Xstrata. His fund has raised about $5.6 billion and has six main private investors, which include commodity trader Noble Group and private equity group TPG Capital, an Abu Dhabi investment fund and a Canadian pension...

  • CALAIS, France, June 30- Protesting ferry workers forced the closure of the Channel Tunnel linking France and England on Tuesday, blocking its entrance and setting fire to tyres thrown onto railway tracks. Workers at ferry service MyFerryLink are trying to prevent job cuts after their company was sold to a Danish firm earlier this month. Calais is a magnet for...

  • DUBAI, June 30- Dubai said it would construct a small office building using a 3 D printer for the first time, in a drive to develop technology that would cut costs and save time as the city grows. Dubai's one-storey prototype building, with about 2,000 square feet of floor space, will be printed layer-by-layer using a 20- foot tall printer, Mohamed Al Gergawi, the...

  • LONDON, June 30- X2 Resources, the private equity fund set up by former Xstrata boss Mick Davis, is now in initial bi-lateral talks to buy some of Rio Tinto's Australian coal assets, a source close to the situation said on Tuesday. The mining industry veteran is also considering buying some coal mines Anglo American has put up for sale in Australia, sources close to X2...