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  • RIYADH, April 29- Saudi Arabia's new heir to the throne Crown Prince Mohammed bin Nayef, a close friend of the United States and a scourge of Islamist militants, will be the country's first king from the third generation of its ruling dynasty. King Salman bin Abdulaziz, in a decree on Wednesday, appointed his nephew and Interior Minister Prince Mohammed as heir...

  • DUBAI, April 29- Net foreign assets at Saudi Arabia's central bank dropped 4.7 percent from a year earlier in March to 2.590 trillion riyals, their lowest level since July 2013, central bank data showed on Wednesday. Although the reserves' drop is partly due to the strong U.S. dollar, which has cut the value of the portion denominated in non-dollar currencies, the...

  • BEIJING, April 29- China may launch a trial scheme soon that would allow Chinese individuals in the Shanghai Free Trade Zone to invest in overseas markets directly for the first time, two sources with direct knowledge of the matter said on Wednesday. The sources said qualified individuals would be able to invest in overseas markets without foreign exchange...

  • The main SICOM contract has jumped 7 percent since a six-year low of $1.35 a kilogram hit in January, a level that was revisited on April 9, to close on Tuesday at $1.445. Other regional benchmarks have also gained, with the Tokyo Commodity Exchange contract reaching a 5- week closing high on Tuesday of 216.7 yen per kg, while Shanghai futures ended at 14,370 yuan per...

  • WASHINGTON, April 29- As the Federal Reserve's policy-setting committee wraps up its third meeting of the year, a critical task awaits the U.S. central bank: narrowing the wide gap between how it and the markets view the path of interest rates. The Fed faces a dilemma this week, according to Bank of America: accommodate market expectations of a later lift-off, or "...

  • Social Security disability rolls have climbed since the 1980 s as the U.S. population has grown older and soared during and after the global financial crisis. The surge also raised the prospect that the program could run out of money and triggered calls for tougher eligibility rules as part of a broader political stand-off over the scope and costs of Social...

  • NEW YORK, April 29- A major funds company is putting directors on notice: if you adopt poison pill anti-takeover measures without shareholder approval, you will be blacklisted. Since October, Dimensional Fund Advisors, the eighth largest U.S. mutual fund firm with $398 billion in assets, has been sending warning letters to companies whose stock it owns and who...

  • April 29- One of the lawsuits was filed by Sara Hensley, whose father was beheaded in Iraq by Islamic militants; another by Patrick Baker, who was shot in the head during the hijacking of an EgyptAir flight by the Abu Nidal Organization; the third came from Marvin Wilson, who was abducted by Kurdish separatists in Turkey. The three litigants and their co-plaintiffs...

  • China stocks mixed as banks drag, Hong Kong market slips Wednesday, 29 Apr 2015 | 12:58 AM ET

    China's banking sub-index fell 0.9 percent, following weak bank results showing more evidence of a cooling economy and foreshowing earnings announcements by other major lenders later on Wednesday. Bank of Communications Co, the fifth-biggest lender, reported a sharp fall in first-quarter net interest margin late on Tuesday, while Agricultural Bank of...

  • The need to generate growth in a slowing economy is partly behind the reforms, but so is the desire to integrate Chinese markets with their global counterparts in order to raise China's international status. "Both China's economic reality and its international ambition call for regulators to quicken the pace of reform," said Xiao Shijun, analyst at Guodu...

  • Euro flirts with $1.10, Aussie back near 80 U.S. cents. By Masayuki Kitano and Ian Chua. SINGAPORE/ SYDNEY, April 29- The dollar wallowed near a two-month low against a basket of major currencies on Wednesday as the market hedged the risk that the Federal Reserve.

  • SHANGHAI, April 29- The yuan firmed on Wednesday amid signs of official support as the central bank set its daily guidance rate at a four-month high, and state-owned banks continued selling dollars, traders said. The People's Bank of China set the daly midpoint rate at 6.1169 per dollar prior to market open, its peak since Dec. 17, 2014, and 0.07 percent firmer than...

  • YOUR MONEY-College savings take a dive - study Wednesday, 29 Apr 2015 | 12:01 AM ET

    LOS ANGELES, April 29- Average amounts saved for college have fallen 25 percent since last year and fewer middle-income families are saving for higher education, even as parents overwhelmingly endorse its value as an investment, according to "How America Saves for College 2015," the latest survey by education lender Sallie Mae. "The biggest reason for the...

  • WASHINGTON, April 29- U.S. economic growth likely braked sharply in the first quarter as harsh weather dampened consumer spending and energy companies struggling with low prices cut spending, but there are signs activity is picking up. A strong dollar and a now-resolved labor dispute at normally busy West Coast ports also likely constrained growth.

  • KATHMANDU, April 29- Nepali officials conceded they had made mistakes in their initial response to a massive earthquake that has killed more than 4,700 people, as survivors stranded in remote villages and towns waited for aid and relief to arrive on Wednesday. Anger and frustration was mounting steadily, with many Nepalis sleeping out in the open under...

  • SEOUL, April 29- Samsung Electronics Co Ltd on Wednesday said it expects earnings to rise in the second quarter after posting its highest profit in three quarters in January-March, boosted by strong demand for its new Galaxy S6 flagship smartphones. Samsung's renewed focus on design after a period of stagnation in its smartphone range appears to be paying...

  • MELBOURNE, April 29- London copper edged lower on Wednesday ahead of a U.S. Federal Reserve meeting that may offer new clues on the timing of a rate rise, though the prospect of further economic support in top metals user China cushioned falls. Measures to shore up China's property sector should be positive, as developers fit out properties to clear inventories,...

  • SINGAPORE, April 29- Oil prices dipped on Wednesday as oversupply outweighed political uncertainty in Saudi Arabia where King Salman relieved the crown prince as well as several senior ministers and the chief executive of national oil company Saudi Aramco. In a surprise move, Saudi King Salman bin Abdulaziz on Wednesday sacked his younger half brother as...

  • SINGAPORE, April 29- Oil prices fell in early trading on Wednesday as oversupply weighed on markets and traders watched Saudi Arabia where King Salman relieved the crown prince as well as the veteran foreign minister from their duties in a major reshuffle. In a surprise move, Saudi King Salman bin Abdulaziz on Wednesday sacked his younger half brother as crown...

  • SHANGHAI, April 29- China will reduce import tariffs on some consumer goods by the end of June to help boost domestic spending and support the economy, a government statement said. For example, Apple Inc's iPhone 6 is being sold in China for 5,286 yuan compared with HK $5,588 in Hong Kong. Earlier in the month, state media reported China will limit the number of visits...