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  • China, Russia's Gazprom sign gas supply agreement Wednesday, 21 May 2014 | 5:42 AM ET

    SHANGHAI, May 21- Russia's state-controlled Gazprom signed a long-awaited gas supply agreement with China on Wednesday. There were no pricing details on the deal, which is believed to involve Russia supplying 38 billion cubic meters of gas per year to China via a new eastern pipeline linking the countries. It has been unofficially valued at over $400 billion.

  • BEIJING, May 21- Sinopec Group said it is forming a joint venture oilfield services company with U.S.-listed Weatherford International, a move that may give the Chinese state energy firm the lead in tapping the nation's potentially vast shale resources.

  • Gunmen kill Chinese engineer in Libya's Benghazi - source Wednesday, 21 May 2014 | 5:16 AM ET

    BENGHAZI, Libya, May 21- Gunmen killed a Chinese construction engineer as he drove to work in Libya's Benghazi city, a security source said on Wednesday.

  • UPDATE 2-Commerzbank suspends two forex traders Wednesday, 21 May 2014 | 5:13 AM ET

    *Commerzbank says incident was an isolated event. FRANKFURT, May 21- Commerzbank has suspended two traders under suspicion of having tried to manipulate the Polish zloty's euro exchange rate in regular trading, the bank said on Wednesday. At least one of the two suspended traders was based in Commerzbank's Frankfurt headquarters.

  • TOKYO, May 21- The Bank of Japan kept policy steady on Wednesday and painted a slightly more optimistic view of the economy, dropping a reference to the country being in deflation and further dashing expectations it will offer more stimulus any time soon.

  • MELBOURNE/ JERUSALEM, May 21- Australia's Woodside Petroleum pulled out of an agreement to take a stake worth up to $2.7 billion in Israel's flagship Leviathan gas project on Wednesday, as the group developing the field shifted focus to regional markets.

  • LONDON, May 21- Oil rose to $110 a barrel on Wednesday, supported by an industry report showing U.S. crude inventories unexpectedly fell last week and persistent disruption to Libya's output amid renewed fighting. "There are various issues- the API's surprising crude stock draw and Libya is also an important one," said Tony Machacek, a broker at Jefferies Bache.

  • LONDON, May 21- Emerging stocks held steady on Wednesday near 6-1/ 2 month highs as a decline on Wall Street made investors cautious but Russian assets extended gains, with the rouble hitting a four-month high versus the dollar.

  • ASTANA, May 21- Oil output at Kazakhstan's giant Kashagan field may not resume until early 2016, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Wednesday, urging foreign partners to start replacing leaky pipelines at the deposit.

  • DUBAI, May 21- Pakistan's central bank has given Meezan Bank Ltd approval "in-principle" to purchase the local banking business of HSBC, the sharia-compliant lender said in a bourse filing on Wednesday. HSBC's Pakistan unit has 10 branches and had assets of about $455 million at the end of 2013..

  • UPDATE 1-Commerzbank suspends two forex traders Wednesday, 21 May 2014 | 4:40 AM ET

    *Commerzbank says incident was an isolated event. FRANKFURT, May 21- Commerzbank has suspended two traders under suspicion of having tried to manipulate the Polish zloty's euro exchange rate in regular trading, the bank said on Wednesday. At least one of the two suspended traders was based in Commerzbank's Frankfurt headquarters.

  • LONDON, May 21- European stocks were under pressure on Wednesday, spooked by overnight falls on Wall Street, and the dollar fell against the yen as the Bank of Japan suggested the world's third largest economy needed no additional stimulus for now. Gold, also sought as a safe haven, held steady.

  • *A.P. Moller-Maersk raises 2014 outlook after Q1. COPENHAGEN, May 21- Danish shipping and oil group A.P. Moller-Maersk reported first-quarter net profit above forecasts due to a doubling of profit at container shipping business Maersk Line and raised its outlook for the underlying result in 2014..

  • *World's biggest chocolate maker says Indonesia must raise cocoa bean output. SINGAPORE, May 21- World No.3 cocoa bean producer Indonesia should push to more than double output to 1 million tonnes a year to meet Asia's growing appetite for chocolate and demand from local grinders, a senior official at Barry Callebaut said on Wednesday.

  • *Rwanda bourse to offer trading of derivatives. KIGALI, May 21- Rwanda's finance minister said the country will soon allow derivatives trading on its stock exchange and a new investment code, which could offer tax breaks for foreign investors, has been sent to parliament.

  • Hong Kong stocks end flat, Lenovo up after results Wednesday, 21 May 2014 | 4:08 AM ET

    HONG KONG, May 21- Hong Kong's benchmark index ended flat on Wednesday, with gains by Lenovo Group on solid earnings offset by drops for HSBC and subway train operator MTR Corp Ltd.. Lenovo, the world's fourth-largest smartphone vendor, posted a forecast-matching $817.2 million net profit for fiscal 2013/ 14 at midday.

  • BEIJING, May 21- Chinese state media labeled the United States a "mincing rascal" and "high-level hooligan" on Wednesday in response to Washington charging five Chinese military officers with hacking U.S. companies to steal trade secrets.

  • *MSCI's cut on Japan shares reflects diverging BOJ and Fed policies. TOKYO, May 21- Japanese shares are set to extend their slide in coming weeks as investors doubt Prime Minister Shinzo Abe will announce any aggressive new reforms as part of an updated economic strategy next month.

  • SYDNEY, May 21- BHP Billiton said on Wednesday it may seek government intervention to avert industrial action by tugboat workers at the Port Hedland iron ore port that threatens to disrupt hundreds of millions of dollars in exports.

  • LONDON, May 21- The yen rose to a 3-1/ 2 month high against the dollar and the euro on Wednesday, buoyed by optimistic comments from Bank of Japan chief Haruhiko Kuroda which gave no hint of further monetary easing in the near term.