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  • HONG KONG, Aug 12- Hong Kong Exchanges& Clearing Ltd said a stock trading link with its Shanghai counterpart helped it to record quarterly profit, but that market turmoil in China could turn investors off mainland shares and delay a link with Shenzhen. Net profit more than doubled to HK $2.52 billion in April-June as trading volume received a boost from HKEx's...

  • BEIJING, Aug 12- Alibaba Group Holding Ltd's revenue for the three months ended June rose 28 percent, missing analysts' estimates, with growth slowing to its lowest rate in more than three years. China's biggest e-commerce company posted quarterly revenues of $3.27 billion, below an expected $3.39 billion, according to a Thomson Reuters SmartEstimate poll of 28...

  • LONDON, Aug 12- Nickel, copper and aluminium hit six-year lows on Wednesday after China pushed the yuan lower again, prompting fears that metals demand from the world's top buyer would wither and sending nickel down 15 percent. Copper plunged to $5,062 but later traded up 0.2 percent at $5,135, aluminium sank to $1,553 a tonne but later traded down 0.1 percent at...

  • *Iran output may rise to 3.6 mln bpd in months- IEA. LONDON, Aug 12- Iran could raise its oil output by as much as 730,000 barrels per day from current levels fairly quickly after sanctions are removed, the International Energy Agency said on Wednesday. Iran and six world powers agreed a deal in July to curb Tehran's nuclear programme, but sanctions imposed in 2012 will...

  • U.S. mortgage applications rise in latest week-MBA Wednesday, 12 Aug 2015 | 7:00 AM ET

    NEW YORK, Aug 12- Applications for U.S. home mortgages rose last week along with refinancing applications, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 0.1 percent in the week ended Aug.7.

  • RPT-Facebook struggles to sell advertising in India Wednesday, 12 Aug 2015 | 7:00 AM ET

    SAN FRANCISCO/ MUMBAI, August 12- Facebook is trying to lure skeptical advertisers in India with features such as free email support for questions about advertising and advice on increasing sales in a bid to boost revenue from its second biggest market. Facebook has 132 million users in India, trailing only the 193 million in the United States, according to the...

  • LONDON, Aug 12- German two-year bond yields touched a new record low on Wednesday after China let the yuan fall sharply for a second straight day, causing concern about global growth. "We are seeing a global risk off move, with worries around China clouding the outlook for inflation and leading to a reappraisal of whether the Fed will raise rates in September," said...

  • *Ford launches new compact car Figo Aspire in India. NEW DELHI, Aug 12- Ford Motor Co plans to use low-cost engineering it learned in India to develop compact models for other emerging markets, executives said, emulating a strategy used by Asian rivals that outsell it in the world's fifth-largest auto market. The U.S. automaker has struggled to compete in India, a...

  • *Markets ponder chances of Fed hike after China's move. Federal Reserve will raise interest rates given China's devaluation of the yuan. The yuan extended losses, dragging the growth-linked Australian and New Zealand dollars to six-year lows with it, while another set of weak Chinese data bolstered safe-haven currencies such as the yen and the Swiss franc.

  • "They should get together and pass this very beneficial reform for the country," Adi Godrej, chairman of Godrej Group, told Network 18 on Wednesday. But the opposition Congress party Modi defeated in a general election last year seems determined not to give him any major victory ahead of his annual Independence Day speech on Saturday, not even support for a bill it...

  • Air Canada's profit jumps 33 pct as fuel costs fall Wednesday, 12 Aug 2015 | 6:12 AM ET

    Aug 12- Air Canada, the country's largest airline, reported a nearly 33 percent rise in quarterly profit, helped by a decline in fuel costs. The company's net income rose to C $296 million, or C $1 per share, in the second quarter ended June 30, from C $223 million, or 75 Canadian cents per share, a year earlier. The carrier's operating revenue rose 3.3 percent to C $3.41...

  • LONDON, Aug 12- Oil prices steadied on Wednesday after an upbeat report from the IEA balanced the bearish impact of a further weakening of China's yuan currency and disappointing Chinese industrial output data. China is the world's biggest oil consumer after the United States and a weaker yuan erodes Chinese purchasing power for dollar-denominated imports...

  • BERLIN, Aug 12- Greece will move rapidly to privatise its ports, regional airports and its power grid operator under a memorandum of understanding agreed with its international lenders. Under the agreement, Athens has committed to take "irreversible steps" by October 2015 to privatise grid operator ADMIE unless an alternative scheme offering equivalent...

  • HAMBURG/ SINGAPORE, Aug 12- Chicago soybean futures fell on Wednesday, pressured as China again allowed its currency to lose value, creating worry Chinese soybean imports could be reduced. Corn and wheat firmed, giving up earlier losses, after China's effective devaluation caused the dollar to weaken. Corn and wheat were also underpinned by bargain-buying...

  • *Gold has rebounded over 3 pct from July's multi-year low. LONDON, Aug 12- Gold rose for a fifth session in a row on Wednesday, hitting a fresh three-week high as the dollar and European equities slid on concerns over China's devaluation of its currency. Gold was lifted by a weaker dollar, down 0.9 percent against a basket of currencies, and lower U.S.

  • ANKARA, Aug 12- Sidelined on his island prison, the one man who might have helped quell a surge in violence in Turkey's Kurdish southeast appears increasingly powerless as a three-year-old peace process teeters on the brink of collapse. Abdullah Ocalan, whose Kurdistan Workers Party first took up arms against the Turkish state in 1984, had been Ankara's main...

  • Iran oil output could jump sharply post-sanctions - IEA Wednesday, 12 Aug 2015 | 5:26 AM ET

    LONDON, Aug 12- Iran could raise its oil output by as much as 730,000 barrels per day from current levels fairly quickly after sanctions are removed, the International Energy Agency said on Wednesday. Iranian Oil Minister Bijan Zanganeh has said Iran expects to raise oil output by 500,000 bpd as soon as sanctions are lifted and by a million bpd within months.

  • HONG KONG, Aug 12- China's yuan extended losses for a second day, closing down 1 percent against the dollar after the People's Bank of China significantly weakened the midpoint again. Spot yuan fell to as low as 6.4510 per dollar in afternoon trade, but strengthed sharply toward the close. Therefore, the next question is how China can close the gap, "said Xie Dongming,...

  • Yuan drop risks shake out in Chinese copper financing Wednesday, 12 Aug 2015 | 5:12 AM ET

    *Copper- backed financing still popular in China. That's bad news for firms using copper-backed financing to raise funds in China, still a common practice due to restrictions on bank credit and despite greater scrutiny by authorities after a major metals financing scam last year. "Some importers who purely used the bonded copper as a financing tool to invest in...

  • JOHANNESBURG, Aug 12- South Africa's National Union of Mineworkers rejected salary increases between of 5 percent to 6.5 percent on Wednesday from the employers' body, the Chamber of Mines, and said the offer was "insulting." Workers want pay increases of up to 15 percent, while the chamber- which represents firms such as Glencore, Anglo American Coal and Exxaro- had...