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UBS Profits Jump 53% Despite Libor Guilty Plea

Switzerland's largest bank UBS on Monday posted a 53 percent rise in second quarter profits, in its first results since agreeing to plead guilty to fraud as part of the Libor manipulation case. 

The bank brought in profits of 1.2 billion Swiss francs ($1.25 billion, 1.1 billion euros), with strong performances from its wealth management, corporate and investments units. 

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ECB: Growth in Eurozone Private Sector Loans Stagnates

Loans to the private sector in the euro area, a gauge of economic health, increased slightly year-on-year in June, but only at the same pace as a month earlier, the European Central Bank said Monday.

The volume of loans to private businesses and households increased by 0.6 percent in June compared with the same month in 2014, the Frankfurt-based central bank said.

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Oil Down in Asia, Hurt by Chinese Factory Slump

Oil prices fell further in Asia Monday, hurt by a slump in the manufacturing sector in China, the world's top energy consuming nation.

A strong dollar and signs of increasing US oil production added pressure on prices, which have already been depressed by a global crude oversupply, analysts said.

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German Business Confidence up as Greece Fears Ease

German business confidence rose slightly in July, reflecting relief in Europe's biggest economy about the deescalation in the Greece debt crisis, the Ifo economic institute said Tuesday.

The Ifo institute's closely watched business climate index rose to 108 points, the first increase in three months, from a revised 107.5 points in June, beating analysts' expectations, Ifo said.

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Foreign Investment in Arab States Dropped 8% Last Year

Foreign direct investment into Arab states dropped 8.0 percent last year with the United Arab Emirates and Saudi Arabia accounting for close to half the total fall, a report said Sunday.

Arab states attracted FDI worth $43.9 billion (40 billion euros) in 2014 compared with $47.5 billion the previous year, the Kuwait-based Arab Investment and Export Credit Guarantee Corp said in its report. 

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Iran Says Foreign Holdings $29bn, not $100bn Plus

Iran has assets of $29 billion in overseas banks that could be unlocked under a nuclear deal -- far less than reported estimates of over $100 billion, the country's central bank chief said.

Valiollah Seif told state television late Saturday that the holdings comprised $23 billion in foreign exchange belonging to the bank and another $6 billion of the Tehran government's money.

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Egypt Begins First Trial Run of 'New Suez Canal'

Egypt began Saturday the first trial run of its "new Suez canal," officials and state media said, ahead of the formal inauguration of the new shipping route next month.

Dubbed the Suez Canal Axis, the new 72-kilometer (45 mile) project is aimed at speeding up traffic along the existing waterway by reducing the waiting period of vessels, as well as boosting revenues for Egypt.

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AT&T Buys DirecTV, now Biggest Traditional TV Provider in U.S.

Even as TV watchers increasingly go online, AT&T has become the country's biggest traditional TV provider with its $48.5 billion purchase of DirecTV.

It got its regulatory approval Friday from the Federal Communications Commission after more than a year. The Justice Department had already cleared the deal on Tuesday.

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Uganda's Farmers Battle Palm Oil Goliaths for Land

Even before the bulldozers arrived life was tough for John Muyiisa, scratching a living from a rented farm on Lake Victoria's Kalangala island.

Now he has almost nothing and is seeking compensation in Ugandan courts from the palm oil plantations he blames for seizing the land and destroying his livelihood.

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Reports: Square Exploring Stock Market Debut

Payments company Square has informed U.S. regulators privately that it is exploring going public with a stock market debut, according to reports Friday.

The mobile payments and financial services startup launched by Twitter co-founder Jack Dorsey is stealthily looking into an initial public offering of stock.

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