Middle East
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The Saudi's investment in a Texas refinery's expansion is meant to ensure that it will retain an important market for its crude in the United States at a time when American politicians intend to wean the country off imported oil, The New York Times reports.
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NEW YORK, April 4- If you read just one book this spring to understand how the world is changing, it should be Mohsin Hamid's new novel, "How to Get Filthy Rich in Rising Asia." Asia's rise is a story of the eastward tilt of global gross domestic product, but behind those numbers are billions of individual lives that are being radically transformed.
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SEOUL/ WASHINGTON- The United States said it would soon send a missile defence system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel called a "real and clear danger" from Pyongyang.
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HOUSTON-- Energy company Harvest Natural Resources Inc. says it will need to restate some financial results published between 2010 and 2012..
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WASHINGTON, April 4- The president of the U.S. Export-Import Bank on Thursday defended his agency in face of attacks by conservative Republicans who want to close it and a new complaint by Delta Air Lines Inc that the bank's support for Boeing gives foreign airlines an unfair advantage.
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LONDON, April 4- Crude oil futures dropped on Thursday after an increase in U.S. unemployment heightened concerns over the economic growth of the world's top oil consumer. Initial claims for state unemployment benefits increased 28,000 to a seasonally adjusted 385,000, the highest since November, the Labor Department said on Thursday.
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SEOUL/ WASHINGTON- The United States said it would soon send a missile defence system to Guam to defend it from North Korea, as the U.S. military adjusts to what Defense Secretary Chuck Hagel called a "real and clear danger" from Pyongyang.
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PARIS, April 4- OPEC is happy with the producer group's official oil output ceiling of 30 million barrels per day, its secretary general Abdullah al-Badri said on Thursday, ahead of an OPEC meeting next month to set output policy.
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LONDON, April 4- Former chief executive Frank Chapman and other top bosses at BG Group will get no performance bonus for 2012 because of the weakened position of the company, even though they met the criteria for one to be considered.
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*$4.8 billion loan needed to bolster economy in crisis. CAIRO, April 4- Egypt's planning minister said on Thursday the government expects to reach a final agreement with the International Monetary Fund on a $4.8 billion loan within two weeks, the state news agency MENA reported.
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*Companies traditionally rely on bank loans. *Riyal sukuk issuance more than doubled last year- HSBC. DUBAI, April 4- After years in which the growth of Saudi Arabia's bond market lagged its economy, the market is taking off as local companies rush to issue debt- though low returns are keeping foreign investors on the sidelines.
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SINGAPORE, April 4- Unable to decide if Pyongyang's military threats are real or mere rhetoric, some fund managers and other investors exposed to South Korean stocks and bonds are buying financial protection in the form of cheap options and credit insurance.
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LONDON, April 4- Brent crude oil steadied at around $107 per barrel on Thursday after its biggest fall in five months on signs of faltering economic growth and rising stocks of fuel. "Investors are shifting out of oil and commodities and into equities after poor returns," said Eugen Weinberg, head of commodities research at Germany's Commerzbank.
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BEIRUT, April 4- Syria announced on Thursday that it will take steps next week to support its currency after the pound plunged by nearly a quarter last month against the dollar, part of a two-year slide caused by a revolt and ensuing civil war. Civil war now rages in most of Syria's provinces and the United Nations says 70,000 people have been killed.
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CAIRO, April 4- Egypt's planning minister said on Thursday the government expects to reach a final agreement with the International Monetary Fund over a $4.8 billion loan within two weeks, the state news agency MENA reported. Ashraf al-Araby also said that Cairo had not requested an increase in the amount of the loan, needed to avert a deepening economic crisis.
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CAIRO, April 4- Egypt's planning minister Ashraf al-Araby said on Thursday the government will reach a final agreement with the International Monetary Fund over a $4.8 billion loan within two weeks, the state news agency MENA reported. Araby also said that Egypt has not requested an increase in the amount of the loan.
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Saudi Aramco raised the official selling price for its main Arab Light grade for May to a premium of $1.80 a barrel over regional benchmark Oman/ Dubai crude, up from $1.30 for April cargoes, and the first increase in three months.
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SINGAPORE, April 4- Brent crude edged up above $107 on Thursday after its biggest fall in five months in the previous session, but prices stayed close to this year's low, as weak data and swelling inventories in top consumer the United States muddied the demand outlook.
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LONDON, April 4- Hedge funds set up to profit from huge market slides are falling out of favour, signalling that investors are increasingly confident leading central banks can avert the kind of meltdown that followed the Lehman Brothers' collapse.
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WASHINGTON, April 4- The president of the U.S. Export-Import Bank on Thursday defended his agency from conservative Republicans who want to close it down, as well as against a new complaint by Delta Air Lines Inc that the bank's support for Boeing gives foreign airlines an unfair advantage.
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OLMOS, Peru, April 4- Peru's Olmos Valley might be a desert now, with rare rains and rivers that trickle to life for just a few months a year, but a radical engineering solution for water scarcity could soon create an agricultural bonanza here.