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Business Middle East

  • *Asian shares fell on Wednesday, led by losses in technology and materials stocks after brokerage downgrades for top chip maker Intel Corp. *Oil prices jumped on Tuesday, snapping two sessions of losses, as escalating turmoil on the border of Turkey and Syria heightened concerns of a supply disruption in a tense Middle East.

  • BANGKOK-- Worries about Europe's debt crisis, signs of weak global growth and expectations of lower U.S. corporate earnings sent Asian stocks down on Wednesday. International Monetary Fund said Tuesday that Spain's economy _ already in double-dip recession _ will contract by 1.3 percent next year _ more than double its previous prediction.

  • STUTTGART, Ark.-- The nation's top agricultural negotiator said Tuesday that he expects farm exports to be down between $1 billion and $2 billion this year because of the drought. He added that he doesn't believe a one-year dip would lead to a lasting slowdown in sales to Asia, where China is a major buyer of U.S. dairy and meat, or elsewhere.

  • MELBOURNE, Oct 10- Australian shares fell 0.4 percent on Wednesday, with some of the biggest declines recorded by gold miners after bullion prices headed lower offshore. eased 0.6 percent to 3,882.8 after U.S. stocks fell on increasing worries about third-quarter earnings and the International Monetary Fund warned on global growth.

  • SEOUL, Oct 10- Following is a list of events in South Korea as well as news stories and press reports that may influence financial markets. *Global equities and the euro fell on Tuesday on concerns over the U.S. earnings outlook and a stark warning from the IMF about global growth, while oil jumped on escalating tensions in the Middle East.

  • WASHINGTON-- President Barack Obama has signed an executive order that carries out new sanctions against Iran that Congress approved and that he signed this summer. The sanctions seek to deter Iran from pursuing a nuclear weapons program.

  • MELBOURNE, Oct 10- Australian shares may ease from 14- month highs on Wednesday after U.S. stocks fell on concerns over third-quarter earnings, although energy companies may be boosted by a sharp rise in oil prices. *Energy companies such as Woodside Petroleum.

  • Oct 9- Stronger demand for aluminum products from airplane and automobile producers helped Alcoa Inc's third-quarter profit beat Wall Street's expectations, offsetting weak aluminum prices and worries about China's slumping economy.

  • NEW YORK, Oct 9- U.S. crude futures jumped more than 3 percent on Tuesday after two lower settlements, boosted by the threat of supply disruption in the Middle East as tensions escalate. For a complete report on oil markets, double click on.

  • NEW YORK-- Stocks slumped Tuesday on Wall Street after the International Monetary Fund predicted weaker world economic growth and as investors waited for what they expected to be lower corporate earnings. The slide came on the five-year anniversary of record high closes for the Dow and S&P 500.

  • STOCKS FINISH LOWER: The Dow Jones industrial average lost 110 points after the International Monetary Fund cut its forecast for world economic growth. FIVE YEARS ON: The slide came on the fifth anniversary of the stock market's all-time high. The price of oil jumped because of supply concerns in the North Sea and the Middle East.

  • Commodities Tomorrow: Israeli Elections Another Factor in Rising Crude Oil

    CNBC's Sharon Epperson discusses the day's activity in the commodities markets and looks at where oil and precious metals are likely headed tomorrow.

  • *Cotton market awaits USDA supply/demand report Thursday. The benchmark contract traded in a range from 71.41- 72.53 cents, finding resistance just above the 100- day moving average at 72.39 cents.

  • CASE RESOLVED: Alcoa agreed to pay $85 million to Aluminum Bahrain BSC, or Alba, to settle a bribery lawsuit without admitting liability. THE DETAILS: Bahrain- controlled Alba sued Alcoa and associated companies in 2008, alleging they paid millions of dollars in bribes to Bahrain officials and others.

  • By Robert Gibbons and Matthew Robinson. NEW YORK, Oct 9- Oil prices jumped on Tuesday, snapping two sessions of losses, as escalating turmoil on the border of Turkey and Syria heightened concerns of a supply disruption in a tense Middle East. He later told reporters that the OPEC powerhouse would prefer to see oil prices closer to $100 a barrel.

  • Brent November crude rose $2.68, or 2.40 percent, to settle at $114.50 a barrel, having traded from $111.97 to $114.72.

  • The price of oil rose more than 3 percent Tuesday on concerns about supplies from the Middle East and the North Sea. On the New York Mercantile Exchange:. Benchmark crude rose $3.06 to finish at $92.39 per barrel.

  • NEW YORK-- The price of gold fell more than $10 an ounce Tuesday after the International Monetary Fund cut its forecast for world economic growth. Gold for December delivery fell $10.70 an ounce to close at $1,765. December silver fell 3.2 cents per ounce to $33.985, and January platinum lost $3.50 to close at $1,695.30 per ounce.

  • NEW YORK-- Alcoa has agreed to pay $85 million to settle allegations that the aluminum manufacturer and related companies paid millions in bribes that resulted in a Bahrain- controlled company overpaying for raw materials. Alcoa agreed to pay $85 million in cash to Aluminum Bahrain BSC, or Alba, without admitting liability.

  • BEIRUT-- In Syria's cities and towns, entire blocks of apartment buildings have been shattered, their top floors reduced to pancaked slabs of concrete. Although there are some pockets of Syria that have been relatively shielded from the conflict, the destruction in most of the country's major cities is staggering.