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  • ZURICH, Jan 18- Credit Suisse said on Sunday it planned to start charging institutional and large corporate clients for Swiss franc accounts following a move by the Swiss National Bank to introduce negative interest rates. "In view of current developments, commission on credit balances is being introduced in the case of institutional clients and large...

  • *Egypt's Ezz Steel jumps on borrowing plans. Saudi Arabia's biggest listed company gained despite poor earnings, a fresh sign that the market may have bottomed. Saudi Arabia's equities benchmark rose 0.9 percent and Saudi Basic Industries climbed 1.1 percent to 79.25 riyals after falling as much as 1.1 percent in the opening minutes.

  • Facebook hiring spree hints at virtual reality plans Sunday, 18 Jan 2015 | 8:01 AM ET
    In June, Oculus showcased its VR Rift Development Kit 2 headset at the E3 Electronic Entertainment Expo in Los Angeles.

    Virtual reality goggles, drones and data centers are all driving a hiring spree at Facebook that is set to swell its ranks as much as 14 percent.

  • DALTON, Georgia Jan 18- Barack Obama enters the final two years of his presidency with a blemish on his legacy that looks impossible to erase: the decline of the middle class he has promised to rescue. The revival of middle-class jobs has been one of Obama's mantras since he took office in 2009 fighting the worst economic crisis in generations.

  • WASHINGTON, Jan 18- President Barack Obama will deliver his State of the Union address before a joint session of Congress on Tuesday at 9:00 pm EST. The White House has signaled repeatedly that tax reform would be a potential area of compromise with the Republican-controlled Congress. He will also push for Trade Promotion Authority to speed trade deals...

  • LONDON, Jan 18- Hutchison Whampoa, owner of Britain's fourth-largest mobile operator Three, is in talks with Telefonica about buying its O2 network, the Sunday Times reported, citing unnamed city sources. O2, acquired by Spain's Telefonica in early 2006, is second in the British mobile market with about 22 million subscribers. Neither Telefonica nor Hutchison...

  • SAN FRANCISCO/ SEATTLE, Jan 18- Virtual reality goggles, drones and data centers are all driving a hiring spree at Facebook Inc that is set to swell its ranks as much as 14 percent in the near term, according to a review of job listings on the company's website. Oculus Rift, the maker of virtual reality headsets that Facebook acquired in a $2 billion deal last year, is...

  • LONDON, Jan 18- Below are tables of the best and worst performers in the fourth quarter of 2014 and for last year as a whole, among the actively managed commodity funds in the Lipper Global database. The return performance is calculated in the fund's local currency. Man AHL Diverisfied 31.31 3. Nuveen Gresham Long/ Short 14.48.

  • *Average actively managed fund down 14.5 pct in 2014. LONDON, Jan 18- After one of the worst years in memory for commodity funds, even the few managers who found a way to make money last year say they expect a difficult start to 2015.. "It's the worst place to be, but a long/short fund still has a lot of opportunities," said Christian Gerlach, portfolio manager at Swiss&...

  • TUNIS/ LONDON, Jan 18- Four years after Tunisia sparked off the Arab spring uprisings the country is seen as a rare regional success story, but its prospects hinge on it deepening reforms and attracting foreign investment. The North African country of 10 million people suffered its share of political and economic woes after the 2011 revolutions that swept much...

  • ZURICH, Jan 18- Switzerland should be able to withstand the abolition of the cap on the franc, the finance minister said in interviews published on Sunday, referring to the central bank's shock U-turn that sent the franc nearly 30 percent higher against the euro. Thursday's move by the Swiss National Bank threatened the future of a fifth of Swiss industrial firms,...

  • BEIJING, Jan 18- China's new home prices fell significantly in December for a fourth straight month even as. Sunday's gloomy National Bureau of Statistics' data foreshadowed weak economic figures set for Tuesday, with expansion expected to slow to 7.2 percent, the weakest since the depths of the global financial crisis. If the GDP data proves worse than expected,...

  • LONDON, Jan 18- After a head-spinning bout of volatility, next week will be dominated by one question: Will the European Central Bank take the ultimate policy leap or pull its punches? With markets in an unusually febrile state- oil and copper have plunged while the Swiss franc rocketed after Switzerland abandoned its currency cap- it's a fair bet that if the ECB...

  • *Dec home prices fell for 4th month y/y. BEIJING, Jan 18- China's new home prices fell significantly in December for a fourth straight month even as. If the GDP data proves worse than expected, some analysts say the People's Bank of China could cut interest rates further or lower reserve requirement ratios for all banks.

  • DUBAI, Jan 18- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups, reported a 29 percent plunge in fourth-quarter net income on Sunday, widely missing analysts' forecasts because of the tumble of global oil prices. The Gulf's largest listed company earned 4.36 billion riyals in the quarter to Dec. 31 compared to 6.16 billion riyals in...

  • DUBAI, Jan 18- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups, reported a 29 percent plunge in fourth-quarter net income on Sunday, widely missing analysts' forecasts. The Gulf's largest listed company earned 4.36 billion riyals in the quarter to Dec. 31 compared to 6.16 billion riyals in the year-earlier period, SABIC said in a...

  • BEIJING, Jan 18- China's new home prices fell significantly in December for a fourth straight month with persistent oversupply expected to keep pressure on real estate prices and investment, even as year-end sales surged. Average new home prices across China fell 4.3 percent last month compared with year-ago levels, a faster decline than the 3.7 percent drop...

  • *Sky-high valuations deterred fund managers last year. *GCC markets now looking cheap vs major indexes. DUBAI, Jan 18- When Saudi Arabia announced last July that it would open its stock market to direct foreign investment, a common worry among fund managers was that when the reform finally took place, the market would simply be too expensive to buy.

  • NEW YORK, Jan 17- Workers at New York City's largest wholesale produce market said on Saturday they had reached a tentative contract agreement, putting off a strike that could have disrupted produce supplies to thousands of restaurants. The members of Teamsters Local 202 who handle produce on the loading platforms and storage facilities at the Hunts Point...

  • BEIJING, Jan 18- China's new home prices fell in December for the fourth straight month and are expected to continue heading lower this year, pointing to a persistent property downturn that is increasingly dragging on the broader economy. Average new home prices across China fell 4.3 percent last month compared with year-ago levels, a faster decline than the...