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Asia Markets Rise, China Growth Beats Forecasts

Asian markets mostly rose Tuesday after China released data showing its economy grew a little faster than expected, while speculation swirled that the European Central Bank would embark on a huge stimulus program.

The euro retreated against the dollar after a minor rally on Monday as traders also nervously awaited an close weekend election in Greece, where a far-left anti-austerity party is leading the polls.

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Malaysia Trims Economic Sails in Wake of Oil Price Rout

Malaysia trimmed its 2015 growth forecast Tuesday and said its fiscal deficit would be wider than expected after the sharp fall in global oil prices threw a wrench in the petroleum-exporting nation's economic plans.

Prime Minister Najib Razak called the situation a "reality check" but assured Malaysians the country was not in trouble, unveiling measures he said would keep Southeast Asia's third-largest economy moving forward.

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Fury in Pakistan as Petrol Crisis Brings Roads to a Halt

Prime Minister Nawaz Sharif on Monday expressed extreme displeasure over Pakistan's severe petrol shortage, forcing the petroleum minister to apologies for a crisis that has brought parts of the nation to a standstill.

The shortage began last week, first hitting Pakistan's central Punjab province and the capital Islamabad, and spreading Monday to northwestern Khyber Pakhtunkhwa province and parts of the country's biggest city, Karachi.

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Danish Central Bank Cuts Deposit Rate as Euro Weakens

Denmark's central bank cut its deposit rate further into negative territory Monday as market players speculated the country could follow Switzerland's example and remove its currency peg against the euro.

The deposit rate, which was cut to below zero in September for the first time since 2012, was reduced to -0.2 percent from -0.05 percent.

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Spain Anti-Austerity Activists Look with Hope to Greece's Syriza

An election win for Greece's leftist Syriza party on Sunday could mark a turning point in Europe where other populist parties, starting with Podemos in Spain, are hoping to launch their own anti-austerity revolts.

Syriza and Podemos are united in blaming Europe's ills on budget austerity measures imposed by the so-called "troika" -- the European Union, the European Central Bank and the International Monetary Fund -- and by their tough stand against corruption.

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UAE Says Falling Oil Prices Will Not Impact Clean Energy

The United Arab Emirates on Monday downplayed fears that the fall in oil prices could negatively impact the development of renewable energy projects.

"Our interconnected energy landscape has evolved beyond the point where the price of oil determines the fate of clean energy," said minister of state Sultan al-Jaber who is also chairman of Masdar, Abu Dhabi's renewable energy company.

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Abu Dhabi Fund Offers $57 mn Loans for Clean Energy

An Abu Dhabi fund said Sunday that it will provide $57 million worth of concessional loans for clean energy projects in five developing countries.

The projects were aimed at bringing "reliable and sustainable power to more than 280,000 people" in Argentina, Cuba, Iran, Mauritania and St. Vincent and the Grenadines, said the Abu Dhabi Fund for Development.

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Report: Cheaper Oil to Boost British Economy

British economic growth could be stronger than expected this year, boosted by lower oil prices and flat inflation that will encourage consumers to spend, according to an influential report published Monday.

The EY ITEM Club's winter forecast predicted gross domestic product growth of 2.9 percent in 2015 -- higher than its previous estimate and stronger than the government's prediction of 2.4 percent.

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Russian Government Takes Flak as It Fails to Stem Economic Crisis

Faced with a crippling recession, Russian authorities are coming in for growing criticism from economic insiders concerned over a lack of clear policies to deal with the crisis.

After a year that saw growth slump and the ruble nosedive on the back of falling oil prices and Western sanctions over Ukraine, officials have predicted that Russia's economy will contract by some five percent in 2015.

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Oil Prices Edge Lower in Asian Trade

Oil prices edged lower in Asia on Monday as a rally late last week fizzled out, owing to lingering concerns about weak demand and a global supply glut, analysts said.

U.S. benchmark West Texas Intermediate (WTI) for delivery in February eased 37 cents to $48.32 in afternoon trade and Brent crude for March fell 37 cents to $49.80.

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