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  • TUNIS, Feb 24- Libya's National Oil Corporation said on Saturday it had declared force majeure on the 70,000 barrels per day El Feel oilfield after a protest by guards closed the field. NOC Chairman Mustafa Sanalla was quoted in the NOC statement as saying the guards were attached to the ministry of defense, and it was up to the ministry to respond to their demands.

  • BEIJING, Feb 24- China's insurance regulator said on Saturday it would force three major insurers to take steps to deal with overseas investments that had violated regulations, as Beijing intensifies its crackdown on risk in the insurance sector. In three separate statements, the China Insurance Regulatory Commission said investments abroad by Ping An...

  • TUNIS, Feb 24- Libya's National Oil Corporation said on Saturday it had declared force majeure on the 70,000 barrels per day El Feel oilfield after a protest by guards closed the field. NOC Chairman Mustafa Sanalla was quoted in the NOC statement as saying the guards were attached to the ministry of defense, and it was up to the ministry to respond to their demands.

  • NEW DELHI, Feb 24- Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilize oil markets after the current supply cut deal ends this year, its oil minister said on Saturday. The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million barrels per day as...

  • S&P Global Ratings raised Russia's foreign currency long-term and short-term sovereign credit ratings to investment grade of' BBB-/A-3' from so-called junk level of' BB+/ B' late on Friday night. Finance Minister Anton Siluanov, who called Russia's rating downgrades in 2014 "politically motivated" amid the Ukrainian crisis, said on Saturday the S&P's decision...

  • BERLIN— The European Central Bank said Saturday it has determined that Latvia's crisis-struck ABLV Bank is failing or likely to fail, and the bank will be wound up under its home country's law. On Monday, Latvia's financial regulator ordered ABLV, Latvia's third-largest bank by assets, to cease all payments at the ECB's request amid U.S. accusations of money...

  • *Li Shufu has 9.69 pct stake in maker of Mercedes cars. BEIJING/ FRANKFURT, Feb 24- The chairman of Chinese carmaker Geely has built up an almost 10 percent stake in Mercedes-Benz owner Daimler, making a $9 billion bet that he can push through an alliance to access the German company's technology. The purchase by Li Shufu means Geely, China's largest privately-owned...

  • BEIJING, Feb 24- China will continue to adopt a proactive fiscal policy and a prudent monetary policy to fulfill its 2018 economic and social development goals, state media Xinhua reported on Saturday, citing a statement from the ruling Communist Party's politburo. The politburo is the party's top political institution. China's economy grew 6.9 percent in...

  • NAIROBI, Feb 24- Power producer Kenya Electricity Generating Company posted a 7 percent drop in pretax profit for the first half of its financial year to 6.08 billion shillings as depreciation expenses rose. It said operating expenses rose to 4.65 billion shillings from 4.39 billion shillings a year earlier due to maintenance costs at its power plants.

  • FRANKFURT, Feb 24- China's Zhejiang Geely Holding does not plan to buy more Daimler shares "for the time being," it said on Saturday, after its chairman Li Shufu disclosed he had a 9.69 percent stake in the German carmaker. It will be an honor to support this unique team under the leadership of Dieter Zetsche in the future, Li Shufu, chairman and owner of Zhejiang Geely...

  • BEIJING, Feb 24- China exported barely any fuel to North Korea in January, data showed on Saturday, deepening months-long cuts in trade with its isolated neighbour amid growing tensions over Pyongyang's nuclear and missile programme. The export breakdown by product comes after data on Friday showed trade with North Korea fell to the lowest level in dollar...

  • NEW DELHI, Feb 24- Saudi Arabia oil minister Khalid al-Falih said on Saturday that he hopes the production constraints under a deal between major OPEC and non- OPEC oil producers will ease in 2019.. The Organization of the Petroleum Exporting Countries is reducing output by about 1.2 million barrels per day as part of a deal with Russia and other non- OPEC...

  • NEW YORK— The National Rifle Association is facing a corporate backlash as companies take a closer look at their investments, co-branding deals and other ties to the gun industry following the latest school massacre. A handful of companies have ended discount programs with the NRA as the group aggressively resists calls for stricter gun control after a...

  • *Li Shufu has built 9.69 pct stake in maker of Mercedes cars. BEIJING/ FRANKFURT, Feb 24- The chairman of Chinese carmaker Geely has built up a 9.69 percent stake in Mercedes-Benz owner Daimler, filings showed on Friday, an aggressive move designed to open the door for an industrial alliance between the two carmakers. Two sources familiar with the thinking of Li...

  • NEW YORK— Recently filed federal charges against President Donald Trump's ex-campaign chairman Paul Manafort could also pose legal and regulatory risks for the banks that loaned him millions of dollars against his New York real estate in recent years. Dubbed "Lender B" in court papers, Citizens Bank not only lent Manafort $3.4 million based off of fraudulent...

  • WASHINGTON— Attorneys general of Maryland and the District of Columbia have expanded their lawsuit accusing President Donald Trump of accepting gifts from foreign and state governments, suing him not only as president but in his personal capacity as a businessman. The lawsuit, filed in federal court in Maryland, is one of several challenging Trump's ties to...

  • *China's Jan average new home prices rise 5 pct y/y. BEIJING, Feb 24- China's new home prices grew in January although major cities saw early signs of softening, as the government continued its efforts to rein in speculative demand to fend off bubble risk. Average new home prices in China's 70 major cities rose 5 percent in January from a year earlier and 0.3 percent...

  • WASHINGTON— A majority of Americans believe the country's overall direction has dipped in the past year. That's according to a new poll from The Associated Press-NORC Center for Public Affairs Research. The survey released Friday found Americans have a better feeling about the state of the U.S. economy, but remain largely sour on President Donald Trump.

  • PYEONGCHANG, South Korea— Visitors to the 2018 Winter Olympics may remember many things. The extreme cold during week one. The two stores saw a combined 46,000 visitors a day during last week's Lunar New Year long weekend, up from 25,000 visitors a day during the rest of the Olympics, according to the game organizers.

  • SAN FRANCISCO/ BEIJING Feb 24- When Apple Inc begins hosting Chinese users' iCloud accounts in a new Chinese data center at the end of this month to comply with new laws there, Chinese authorities will have far easier access to text messages, email and other data stored in the cloud. Until now, such keys have always been stored in the United States, meaning that any...