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  • BERLIN, Jan 23- Global organisations like the International Monetary Fund and the World Bank must be reformed to restore confidence in the global financial system, German Chancellor Angela Merkel said on Wednesday, defending multilateralism as a' win-win' guarantor.

  • *Dubai breaks three day losing streak. Jan 23- The Dubai stock market snapped a three day losing streak on Wednesday, boosted by its financial and property shares, while Saudi Arabia rose on the back of its banks. The Dubai index was up 0.9 percent higher with Emirates NBD, its largest bank, adding 2.1 percent and its largest listed developer Emaar Properties gaining...

  • MOSCOW, Jan 23- The global oil output cut should not be prolonged, the head of Russia's second biggest oil producer, Lukoil, said on Wednesday, Interfax news agency reported. Lukoil would have to cut its output by 30,000 barrels per day by April under the OPEC and non- OPEC oil deal, but it could still maintain full-year oil output in 2019 at the same level as in 2018,...

  • OSLO, Jan 23- Norway's sovereign wealth fund, the world's biggest, has bought six logistics properties in Chicago, Nashville and Orlando together with real estate partner Prologis, the fund said on Wednesday. "Norges Bank Real Estate Management paid $87.7 million for its 45 percent interest... The sellers are ventures between Prologis and U.S. pension funds...

  • *FT report on U.S.- China talks rekindle trade worries. Trading was choppy as hopes of more stimulus measures from China to shore up its economy offset worries over progress between Washington and Beijing in resolving their trade spat. The main driver of the earlier risk-off tone was a Financial Times report that Washington had rejected an offer from Beijing...

  • DAVOS, Switzerland, Jan 23- South African President Cyril Ramaphosa pledged on Wednesday that his government would not interfere with the independence of the Reserve Bank, despite a proposal by the ruling party to broaden its focus to boost employment and economic growth. "We do not seek to interfere with its independence," Ramaphosa told a news conference at the...

  • DAVOS, Switzerland, Jan 23- Italy's economy minister kept the door open on Wednesday to the potential appointment of Bundesbank President Jens Weidmann as next head of the European Central Bank, saying past stances should not weigh on the decision. Giovanni Tria said it was too early to discuss who will succeed Mario Draghi in November. "There's no point in...

  • LONDON, Jan 23- Qatar is preparing to issue a tender for energy firms seeking a stake in its gas expansion project, drawing interest from long-standing partners as well as newcomers Chevron, Norway's Equinor and Italy's Eni, industry sources said. Plans to expand Qatar's liquefied natural gas facilities, already the world's largest, by more than a third in the...

  • Jan 23- Kimberly-Clark Corp on Wednesday reported quarterly profit that missed Wall Street estimates, as the Kleenex-tissues maker continued to struggle with rising raw materials costs and a strong U.S. dollar, sending its shares down 2.2 percent. The company said it paid $215 million more in raw material costs, including $115 million for pulp, a major...

  • Jan 23- Gold held steady on Wednesday after posting its best daily gain in two weeks in the previous session, with investors drawn to bullion as global equities slipped on economic growth fears and the U.S.- China trade dispute. "Any weakness in stocks is likely to attract a bid because the market is looking towards gold as a safe haven at this stage," said Saxo Bank...

  • Jan 23- Strong earnings from Dow members IBM, United Technologies and Procter& Gamble lifted U.S. stock index futures on Wednesday, putting Wall Street on track to recover from its second biggest decline in 2019.. The gains follow Wall Street's more than 1 percent loss on Tuesday as worries about slowing global growth came to the fore after a gloomy economic...

  • LONDON, Jan 23- Metro Bank shares lost a third of their value on Wednesday after the British lender announced a sharp rise in exposure to higher-risk mortgages and said profits would be hit by slowing growth, raising fears of a shareholder cash call. Metro, set up to challenge the dominance of Britain's big lenders after the financial crisis, reported a hefty...

  • Jan 23- Johnson& Johnson is pursuing an acquisition of surgical robotics firm Auris Health Inc, Bloomberg reported on Wednesday, citing people with knowledge of the matter. J&J is seeking to purchase Auris at a premium to the valuation from its latest funding round that valued the company at $2 billion, Bloomberg reported https://bloom.bg/2RG9kwA.

  • DAVOS, Switzerland, Jan 23- Italian Economy Minister Giovanni Tria said on Wednesday he sees no systemic threat from lenders Monte dei Paschi, Carige or Popolare di Bari but is following developments. Troubles at Banca Carige, Monte dei Paschi and Popolare di Bari have reignited fears of wider instability in Italy's fragile banking sector, pushing the...

  • Jan 23- Kleenex-tissues maker Kimberly-Clark Corp on Wednesday reported better-than-expected quarterly sales, as it raised prices across the board to offset higher raw material and transportation costs. Net sales for the fourth quarter ended Dec. 31 was $4.57 billion, beating analysts expectation of $4.45 billion, according to IBES Refinitiv.

  • LONDON, Jan 23- Aluminium climbed to a one-month high on Wednesday on a softer dollar but uncertainty around progress in talks to resolve a trade spat between the United States and China kept a lid on gains. Three-month aluminium on the London Metal Exchange rose 1.1 percent to $1,905 per tonne by 1142 GMT, its strongest since Dec. 24. TENSIONS: White House economic...

  • DAVOS, Switzerland Jan 23- Italy will meet its key budget deficit target for this year and there is no need for any corrective measures to prevent an overshoot, Economy Minister Giovanni Tria said on Wednesday. The Bank of Italy said last week that GDP probably contracted at the end of last year for the second straight quarter, putting the euro zone's third largest...

  • Jan 23- World leaders and top CEOs meet at Davos in Switzerland this week to discuss how to steer policy amid worries of slowing economic growth, damaging trade wars and Brexit. >A gun in the face: Davos ploy to reshape refugee debate. >Pompeo voices optimism for good outcome on U.S.- China trade Japan's Abe to put trade, climate at centre of G20 agenda.

  • United Technologies forecast 2019 adjusted earnings per share between $7.70 and $8.00, largely above analysts' average estimate of $7.80, according to IBES data from Refinitiv. Sales in the Pratt& Whitney unit jumped about 24 percent to $5.54 billion in the fourth quarter ended Dec. 31, while Collins Aerospace reported an increase in sales by about 29 percent to...

  • *Arianespace competing for two major Asia-Pacific contracts. SINGAPORE, Jan 23- Europe's Arianespace is discounting the price of satellite launches with its Ariane 5 rockets as it competes against U.S. rival SpaceX for customers before the release of the cheaper Ariane 6 rocket next year, a senior executive said on Wednesday. Arianespace is aiming for the cost...