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Business Middle East

  • *Russian stocks fall as risk appetite wanes. MOSCOW, Oct 10- Russian shares fell in early trading on Wednesday, following emerging market peers and bruised by rising risk aversion globally, while the rouble was steady, supported by higher oil prices. At 0857 GMT the rouble-denominated MICEX index.

  • *Euro STOXX 50 down 0.5 pct, FTSE, DAX, CAC down. *U.S. stocks fell 1 pct, Intel off 2.7 pct after downgrades. LONDON, Oct 10- European shares fell for the third day running on Wednesday and the euro came under fresh pressure along with Spanish and Italian bonds as economic anxiety was compounded by stuttering progress in the euro zone's battle against its debt crisis.

  • DUBAI, United Arab Emirates-- Flights were snarled at the Middle East's busiest airport in Dubai early Wednesday after a backup system needed to deal with heavy fog failed, forcing airlines to divert dozens of planes.

  • TOKYO-- Toyota Motor Corp. is recalling 7.43 million vehicles in the U.S., Japan, Europe and elsewhere around the world for a faulty power-window switch _ the latest, massive quality woes for Japan's top automaker.

  • *NATO says plans in place to defend Turkey from Syria. SINGAPORE, Oct 10- Brent crude slipped to near $114 per barrel on Wednesday, after jumping more than 2 percent in the previous session, as worries about global economic growth muddied the outlook for demand and offset supply fears stemming from tensions in the Middle East.

  • ISTANBUL, Oct 10- Gas flow on a pipeline carrying Iranian natural gas to Turkey will resume within a week, following a blast in eastern Turkey on Monday, Turkish Energy Minister Taner Yildiz said on Wednesday. Yildiz also said that Turkey had avoided supply problems after daily supplies from Russia were increased.

  • *Newcrest Mining slips 1.3 percent as bullion weakens. MELBOURNE, Oct 10- Australian shares pulled back from 14- month highs on Wednesday as lower growth forecasts for China and other regional economies by the International Monetary Fund wiped off gains made by miners on higher iron ore prices.

  • *Weak economic outlook, stronger dollar depress oil* NATO says plans in place to defend Turkey from Syria* U.S. crude stockpiles forecast to rise 1 mln bbls- poll* Coming Up: API weekly oil inventories data; 2030 GMT By Florence Tan.

  • *Weak economic outlook, stronger dollar depress oil* NATO says plans in place to defend Turkey from Syria* U.S. crude stockpiles forecast to rise 1 mln bbls- poll* Coming up: API weekly oil inventories data at 2030 GMT By Florence Tan.

  • TOKYO, Oct 10- Japan's Toyota Motor Corp will voluntarily recall 7.4 million vehicles globally, including certain Vitz, Yaris and Corolla models, due to malfunctioning power window switches, the company said on Wednesday. The recall comes a day after Toyota reported its sales fell 48.9 percent year-on-year in China in September.

  • MOSCOW- Russian President Vladimir Putin will meet Iraqi prime minister Nuri al-Maliki. MOSCOW- Putin to meet with officials to discuss the situation on the national and international grain market. MOSCOW- Court hearing in appeal by members of punk group Pussy Riot.

  • NAIROBI, Oct 10- The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Wednesday. NIGERIA- President Goodluck Jonathan is expected to deliver the 2013. KENYA- Central Bank of Kenya auctions 182- day Treasury bills.

  • By early afternoon in Europe, benchmark oil was down 28 cents to $92.11 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $3.06 on Tuesday to finish at $92.39 per barrel on concerns about supplies from the Middle East and the North Sea.

  • MELBOURNE, Oct 10- Australian shares slipped 0.3 percent on Wednesday, pulling back from 14- month highs after the IMF cut its growth forecasts for a second time, sending shares around most of the region lower. climbed 6 percent to $117.20 a tonne, its highest since Aug. 1, according to data provider Steel Index, taking gains to 12.5 percent over the past two days.

  • BANGKOK-- Worries about Europe's debt crisis, signs of weak global growth and expectations of lower U.S. corporate earnings sent most Asian stock markets down Wednesday.

  • The yield on Turkey's two-year benchmark bond. A reduction in natural gas exports from Iran would not have much impact on world energy markets, but could hurt Turkey and part of Azerbaijan, according to a U.S. report due to be released on Tuesday.

  • *NATO says plans in place to defend Turkey from Syria. SINGAPORE, Oct 10- Brent crude slipped near $114 on Wednesday after a jump of 2 percent the previous day, with a cloudy economic outlook offsetting fears about disruptions to Middle East oil supply as a conflict between Turkey and Syria escalated.

  • U.S. crude was down 45 cents at $91.94 a barrel at 12:45 p.m. EDT, having swung from $91.57 to $93.66.

  • As Western sanctions squeeze Iran and its currency tumbles, the country's energy minister wooed Indian businesses on Wednesday for more investment and trade.

  • MILAN, Oct 10- Ferrari Chairman Luca Cordero di Montezemolo is set to become the vice chairman of UniCredit, Italy's biggest bank by assets said in a statement on Wednesday. Montezemolo already sits on Unicredit's board as a representative of Abu Dhabi investment vehicle Aabar, which is the bank's single biggest shareholder with a 6.5 percent stake.