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  • DUBAI, Jan 18- Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on Monday, implementing its policy to boost production as soon as sanctions were lifted. "Iran is able to increase its oil production by 500,000 barrels a day after the lifting of sanctions, and the order to increase...

  • *Xiao Gang tendered resignation last week- source. BEIJING, Jan 18- Xiao Gang, the embattled head of China's securities regulator, has offered to resign, sources said, after perceived mismanagement wiped more than $5 trillion off the value of the Shanghai and Shenzhen stock markets since they peaked last June. "The central is extremely unhappy with Xiao Gang.

  • LONDON, Jan 18- Asda, the British supermarket arm of U.S. retailer Wal-Mart, is preparing to announce job cuts as it grapples with changing shopping habits and a brutal industry price war. Sky News reported on Monday that Asda would cut "hundreds of jobs", largely focused at its head office in Leeds, northern England. Industry data published last week showed Asda was...

  • BEIJING, Jan 18- China's central bank and commercial banks sold a net 629 billion yuan worth of foreign exchange in December, data showed on Monday, or nearly triple the figure of the previous month, as capital outflows grew. Capital outflows have gained momentum since China's surprise devaluation of the yuan in August, fanned by concerns about the country's...

  • ISTANBUL, Jan 18- Turkcell is looking for acquisition opportunities to expand regionally and Iran could be a target market as sanctions against Tehran are lifted, the chief executive of Turkey's largest mobile operator said on Monday. "Iran is a huge market and in our focus," Kaan Terzioglu said in an interview with Reuters. In 2004 it led a consortium that won a...

  • PHNOM PENH, Jan 18- Business owners in Cambodia urged lawmakers to introduce stricter measures to a controversial draft trade union law on Monday to stabilise a vital manufacturing sector plagued by unrest, warning the current bill was too lenient towards unions. Strikes by assertive and politicized unions, mostly over pay, have left the government with the...

  • LONDON, Jan 18- Royal Dutch Shell said on Monday it had decided to exit the multi-billion dollar plan to jointly develop the Bab sour gas field in Abu Dhabi, citing the downturn in the oil market. The Anglo-Dutch company said that "following a careful and thorough evaluation of technical challenges and costs" it will stop further joint work on the project with the...

  • Jan 18- Mobile messaging service WhatsApp, owned by Facebook Inc, said it will no longer charge annual subscription fees and plans to test tools to allow users to communicate directly with businesses and organizations via the app. WhatsApp, which has 900 million users worldwide and works across different types of phones, said it does not plan to launch...

  • *To send official team to Iran in next 2 months-chairman. NEW DELHI, Jan 18- India's national aluminium company NALCO will soon send an official team to Iran to explore setting up a smelter complex worth about $2 billion, its boss said, as world powers lift sanctions on Iran that had made negotiations difficult. NALCO Chairman Tapan Kumar Chand told Reuters on...

  • DUBAI, Jan 18- Iran has issued an order to increase crude oil production by 500,000 barrels a day, the deputy oil minister was quoted as saying on Monday, implementing its policy to boost production as soon as sanctions were lifted. Benchmark Brent crude was trading at around $29.50 at 1200 GMT. "Iran is able to increase its oil production by 500,000 barrels a day...

  • NEW YORK/ JINOTEGA, NICARAGUA, Jan. 18- Brimming with shade trees and bounded by the Tuma river, the lower climes of Roger Castellon's farm in Nicaragua's mountainous Jinotega department were long ideal for growing coffee. But with temperatures on the rise, the veteran coffee farmer is shifting his lower-lying land to a crop that, although new for him, enjoys a rich...

  • LONDON, Jan 18- OPEC forecast on Monday that oil supply from non-member countries will post a larger-than-expected decline this year due to the collapse in prices, boosting the need for crude from the producer group. The Organization of the Petroleum Exporting Countries said in a report that supply outside OPEC would decline by 660,000 barrels per day in 2016,...

  • *Pipeline to bypass Ukraine, pump Russian gas to Germany. BRUSSELS, Jan 18- Polish President Andrzej Duda said on Monday a plan to build a new pipeline to pump Russian gas to Germany bypassing Ukraine is driven by politics rather than economics and undermines the European Union's solidarity. It has nothing to do with economics, "Duda said at a joint briefing with...

  • BEIJING/ HONG KONG, Jan 18- For an economy facing its slowest economic growth in a quarter century, a 7.7 percent year-on-year rise in new home prices in December would seem to offer China some light at the end of the tunnel. But the headline number, published by the National Bureau of Statistics on Monday, masks China's massive property problem- a vast amount of...

  • LONDON, Jan 18- Copper rallied on Monday after a move by China's central bank to support the yuan triggered a reversal of bets on lower prices but the mood was expected to stay bearish on worries about demand growth in the top consumer. China's central bank on Monday confirmed it was preparing to raise the reserve requirement ratio next week for yuan deposits...

  • Chinese laborers repair an oil pumping unit at Huabei oil field.

    An end to sanctions on Iran has driven crude futures to new lows and brought sub-$20 oil in sight, though for some that is already a painful reality.

  • MUMBAI, Jan 18- The second tranche of India's sovereign gold bonds, whose sale began on Monday, is likely to draw good response from investors, as they are priced below market rates for the metal and sharemarket turmoil spurs investors to diversify holdings. India plans to sell 150 billion rupees in gold bonds in the fiscal year ending on March 31, as it seeks to wean...

  • *To be replaced by board member Hans Van Bylen. BERLIN, Jan 18- German sportswear firm Adidas has appointed Henkel's Kasper Rorsted as its new chief executive after the 53- year-old Dane succeeded in cutting costs and boosting profits during an eight-year reign at the consumer goods group. Rorsted, who will leave Henkel in April, will take charge of Adidas on Oct. 1,...

  • U.S. CRUDE TURNS POSITIVE, PARES LOSSES AFTER HITTING 2003 LOW.

  • BRENT CRUDE TURNS POSITIVE, PARES LOSSES AFTER HITTING 2003 LOW.