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  • Oct 20- IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing and big data analytics. IBM will pay Globalfoundries $1.5 billion in cash over the next three years to take the chip operations off its hands, the companies said in a statement on Monday. IBM took a related pre-tax...

  • Oct 20- Halliburton Co, the world's No.2 oilfield services provider, reported a better-than-expected quarterly profit, helped by buoyant shale drilling activity in North America. Halliburton, which derives about half of its revenue from North America, also benefited from higher revenue in its international operations. Halliburton's revenue rose about 18...

  • Saudi crude exports have been sliding in the past few months as shale oil squeezes Saudi oil out of U.S. markets and as demand in Asia, particularly in China, has been slower than expected. North America's shale boom has started to squeeze Saudi oil out of the U.S. market, the International Energy Agency said in a report last month, estimating Saudi exports would run...

  • EU seeks $1.27 billion in Ebola aid for W. Africa Monday, 20 Oct 2014 | 5:55 AM ET

    LUXEMBOURG— The European Union committed itself Monday to step up efforts toward getting 1 billion euros in aid to fight Ebola in West Africa and rejected the idea of halting direct flights coming from the region. So far, the overall anti-Ebola total for the EU, including EU national contributions, stands at 500 million euros, with Britain contributing 160...

  • *Nutreco, Adidas, Havas surge on M&A activity. The market's losses were limited, however, by brisk M&A activity, boosting the shares of Nutreco, Adidas and Havas. German sportswear firm Adidas AG surged 5.6 percent after the Wall Street Journal reported that an investor group, that includes Jynwel Capital and funds affiliated with the Abu Dhabi government, was...

  • *Kuwaiti banks leaving financial crisis overhang behind. DUBAI, Oct 20- Commercial Bank of Kuwait, the Gulf state's fifth-largest lender by assets, has reached a string of debt settlements with clients that have helped to slash its non-performing loans, the bank's acting chief executive said. This has pressured Kuwait's banking sector over the last several...

  • CAIRO, Oct 20- SODIC, one of Egypt's largest listed real estate developers, plans to invest 2.4 billion Egyptian pounds in 2015 and is hunting for new projects as the sector recovers from three years of turmoil, its managing director said. Egypt's once-booming construction sector was hit hard by the 2011 revolt that ended Hosni Mubarak's 30- year rule but ushered...

  • PARIS, Oct 20- European shares dipped in early trading on Monday as the previous session's sharp rebound lost steam, although takeover activity boosted the shares of Nutreco, Adidas and Havas. Shares in Dutch animal feed and nutrition company Nutreco jumped 38 percent after SHV, a privately-held Dutch investment firm, said it had reached a conditional...

  • CAIRO, Oct 20- Egypt needs an "economic revolution" to recover from damage caused by political instability as it seeks to attract billions of dollars in foreign investment and repair its state finances, planning minister Ashraf al-Arabi said. To compensate for those losses and eventually compete globally, Egypt must overhaul an economy which has been...

  • *Saudi Arabia, Kuwait stop production at Khafji oilfield. *Uncertainty over who controls Libya's oil. SINGAPORE, Oct 20- Brent crude edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust U.S. data buoyed global financial markets, with a cut in Saudi- Kuwait oil output providing further support.

  • *Saudi Arabia, Kuwait stop production at Khafji oilfield. *Uncertainty over who controls Libya's oil. SINGAPORE, Oct 20- Brent crude futures edged higher on Monday, holding on to gains scored in the previous session that took it above $86 a barrel after robust U.S. data buoyed global financial markets, with a cut in Saudi- Kuwait oil output providing further support.

  • SINGAPORE, Oct 20- U.S. crude futures bounced back above $83 a barrel on Monday after a three-week fall that pulled prices to their lowest since 2012 amid abundant supply and slack demand. *U.S. crude for November delivery was up 67 cents at $83.42 a barrel by 2355 GMT. *Indonesia's President-elect Joko Widodo plans to order the steepest rise in subsidized fuel...

  • *Fighting in Iraq raises political risk. NEW YORK, Oct 17- Oil prices rose slightly on Friday, bouncing from near four-year lows even while marking a fourth straight weekly loss, as investors bought back into a market they said was oversold, and as fighting in Iraq increased political risk. "It's corrective," said Andy Lebow at Jefferies LLC.

  • NEW YORK, Oct 19- Business jet buyers are expected to take delivery of as many as 675 new aircraft worth about $20.5 billion this year, a slight rise over deliveries worth $20 billion 2013, according to a forecast by Honeywell International Inc.. That's up from 9,250 jets worth $250 billion in last years' long-range forecast, Honeywell said. Buyers in the...

  • BUSINESS-NEWS-SCHEDULE AT 1900 GMT / 3:00 PM ET Sunday, 19 Oct 2014 | 3:01 PM ET

    LONDON- A series of Reuters interviews with officials, bankers and others involved in the European Central Bank's financial inspection of the euro zone's biggest banks show that in the seven months since it began, the ECB has had to shoot down countless pleas from banks and national supervisors for special treatment. STOCKHOLM/ OSLO/ COPENHAGEN- When it comes to...

  • *Dubai's Arabtec surges after promising Egypt deal soon. DUBAI, Oct 19- Most exchanges in the Middle East rebounded on Sunday after global stock markets recovered on Friday from a big sell-off triggered by worries about the impact of weak earnings reports on growth and businesses. Those worries had sent Middle East bourses tumbling, with Dubai's index down 13.6...

  • CAIRO, Oct 18- Egypt signed contracts with six international firms on Saturday to carry out dredging of the new Suez Canal, the flagship project in President Abdel Fattah al-Sisi's program to revive an economy battered by years of political turmoil. The companies are National Marine Dredging Company of the United Arab Emirates; Royal Boskalis Westminster and...

  • Iran says number of foreign tourists surges Saturday, 18 Oct 2014 | 12:49 PM ET

    TEHRAN, Iran— The number of foreigners visiting Iran jumped dramatically over the 12- month period ending in March, with 35 percent more tourists compared to the same period a year earlier, Iran's top tourism official said Saturday. Masoud Soltanifar said on state TV that the thriving industry could help boost Iran's economy out of recession and bring in...

  • Market turmoil: A gift for mortgage refinancers? Saturday, 18 Oct 2014 | 9:01 AM ET

    A sudden plunge in mortgage rates this week raised an urgent question for millions of Americans:. Rates on long-term mortgages tend to track the 10- year Treasury yield, which fell below 2 percent for the first time since May 2013. Accordingly, the average rate for a 30- year fixed mortgage, mortgage giant Freddie Mac reported, dipped below 4 percent to 3.97 percent—...

  • CAIRO, Oct 18- The three main countries that share the Nile River's waters moved toward an agreement to study whether a planned $4 billion Ethiopian dam would disrupt flows to downstream countries, water ministers of Ethiopia, Sudan and Egypt said after talks on Friday. But while the countries continue talks, construction will proceed on the Renaissance Dam,...