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  • More oil price pressure may be ahead - IEA Tuesday, 10 Feb 2015 | 4:00 AM ET

    SINGAPORE, Feb 10- Oil prices may come under more downward pressure before recovering later this year as ample supplies push inventories higher, perhaps towards record highs, the West's energy watchdog said on Tuesday. The International Energy Agency said in its monthly report that supplies remained abundant and that it would take time for investment cuts to...

  • Feb 10- The U.S. Department of Justice is pushing some big banks to plead guilty to criminal charges that they manipulated the prices of foreign currencies, the New York Times reported, citing lawyers briefed on the matter. In the final stages of a long-running investigation into corruption in the world's largest financial market, federal prosecutors have...

  • NEW DELHI, Feb 10- Revisions to India's economic output data mean that Finance Minister Arun Jaitley's upcoming budget should assume that the economy will grow by at least 8 percent in the 2015/ 16 fiscal year, a government source told Reuters on Tuesday. India has changed the way it measures economic activity to conform with international standards, resulting...

  • *China stimulus hopes boost commodity-dependent currencies. LONDON, Feb 10- Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China. Investors were keeping a close eye on the situation...

  • LONDON, Feb 10- European shares edged down early on Tuesday, with Hugo Boss leading the market lower after private equity firm Permira placed a tranche of its shares. German fashion group Hugo Boss fell 4.6 percent, the top decliner in the pan-European FTSEurofirst 300 index, after Permira placed shares at 102 euros each. Permira, Hugo Boss's largest shareholder,...

  • TBILISI, Feb 10- Georgia's central bank will raise base interest rates on Wednesday, its chief said, launching what could be a cycle of monetary tightening to preserve financial stability, control inflation and support the ailing lari currency. The former Soviet state's economy is suffering side effects from a plunge in Russia's rouble and the conflict in...

  • CENTRAL BANK CHIEF SAYS GEORGIA'S FINANCIAL STABILITY NOT UNDER THREAT, SEES INFLATION RISING TO 5 PERCENT IN SECOND HALF OF YEAR.

  • GEORGIAN CENTRAL BANK CHIEF SUGGESTS RATE HIKE COULD BE FIRST IN A' STEP-BY-STEP' SERIES.

  • CENTRAL BANK CHIEF SAYS WILL ONLY INTERVENE TO SUPPORT LARI CURRENCY IF NECESSARY TO' EASE SHOCKS TO ECONOMY'.

  • GEORGIAN CENTRAL BANK WILL RAISE REFINANCING RATE FROM 4 PERCENT ON WEDNESDAY TO COUNTER INFLATIONARY PRESSURE- BANK CHIEF KADAGIDZE.

  • HONG KONG, Feb 10- Hong Kong shares erased earlier losses and ended flat on Tuesday, as rebounding mainland stocks eased worries stemming from overnight weakness in global equity markets. The Hang Seng index was unchanged at 24,528.10, while the China Enterprises Index gained 0.4 percent, to 11,695.26 points. Among the most actively traded stocks on Hong Kong's...

  • SEOUL, Feb 10- As Samsung Electronics Co Ltd sells fewer of its own smartphones, the South Korean group's components businesses are under pressure to pick up the slack and secure external customers for chips and display panels, including putting these in rival mobile devices. Samsung Display has begun supplying organic light-emitting diode panels to Chinese...

  • SEOUL, Feb 10- South Korea's new law compelling big companies to part with "excess" cash or be taxed on it is prompting traditionally tight-fisted Korea Inc to boost dividend payouts. Last year, South Korea announced plans to tax excessive corporate cash, a move aimed at getting companies to spend more on dividends, wages and investment. Big companies such as...

  • MOSCOW, Feb 10- Russian assets opened higher for a second straight session on Tuesday on hopes for a political solution to the Ukraine crisis, despite a new fall in oil prices. The leaders of Russia, Ukraine, Germany and France have agreed to meet in Belarus on Wednesday to try to broker a peace deal for Ukraine, days after talks in Moscow involving the French, German...

  • PARIS, Feb 10- Matthieu Pigasse, head of investment bank Lazard in Paris which is advising the Greek government on its debt restructuring, said on Tuesday the troika imposing austerity on Greece was totally mistaken and had driven the country's economy into a wall. "I think that the policies conducted by the troika are mistaken and have driven Greece into a wall...

  • TOKYO, Feb 10- Japan's SoftBank Corp said on Tuesday its third-quarter operating profit slid 5.9 percent, missing estimates, as the ambitious mobile telecom firm continues to soak up the cost of trying to turn around loss-making U.S. unit Sprint Corp.. Japan's third-biggest mobile carrier by subscriber numbers kept its operating profit forecast for the...

  • PARIS, Feb 10- French tyre maker Michelin pledged on Tuesday to step up cost-cutting efforts after unveiling an 8.5 percent profit decline for 2014 on sales that missed its own forecast. Net income fell to 1.03 billion euros last year, Michelin said in a statement, as revenue dropped 3.4 percent to 19.55 billion, declining at all three divisions.

  • TOKYO, Feb 10- Japanese government bond prices dropped on Tuesday after an re-offering auction of long-term bonds drew tepid demand from brokerages, many of which have been. The 300 billion yen re-offering of bonds maturing in 15 to 40 years by the Ministry of Finance drew tepid bidding. Few people seemed to be building a long position at the auction, "said Takeo...

  • *Rio seen returning $1.5- $3 billion in capital. *Glencore leverage, Anglo American platinum sale in focus. MELBOURNE/ LONDON, Feb 10- Rio Tinto is expected to star among the top five global miners with a return of billions of dollars to shareholders at its annual results, even as the firm is set to report its worst half-year profit since 2009..

  • Egypt urban consumer inflation falls to 9.7 pct in Jan Tuesday, 10 Feb 2015 | 1:15 AM ET

    CAIRO, Feb 10- Egypt's urban consumer inflation fell to an annual 9.7 percent in January from 10.1 percent in the previous month, the official statistics agency CAPMAS said on Tuesday.