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BBC to Slash 2,000 Jobs Amid Budget Cuts

The BBC said Thursday it will cut around 2,000 jobs in the most far-reaching change in its history as the world's largest public broadcaster falls prey to government austerity measures.

Director General Mark Thompson told staff that the corporation plans annual savings of £670 million pounds over five years but no services would be completely cut.

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Egypt to Reconsider IMF Loan: Report

Egypt may reconsider an International Monetary Fund loan which it turned down in June, with donor countries having fallen short of meeting pledges, the finance minister was quoted as saying Wednesday.

Hazem al-Beblawi added Egypt was also negotiating financing of up to seven billion dollars from Saudi Arabia and the United Arab Emirates, the English-language website of state-owned daily Al-Ahram reported.

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Pay off Your Credit Cards, Says Cameron

Prime Minister David Cameron faced criticism Wednesday for telling householders to pay off their credit cards to help the country weather the global economic crisis.

In advance extracts from his closing speech to the Conservative party's annual conference which were released by his office, Cameron was to dismiss calls to ease austerity measures and stimulate economic growth.

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German Car Market Powers Ahead in September

Germany's automobile market, Europe's biggest, continued to outperform its rivals in September, sector federation VDA said Wednesday, with a sharp rise in new cars sold in the country and exported.

A total of 280,800 new cars were registered in Germany, a rise of eight percent compared to the same month last year. There were 426,600 cars exported from Germany, an annual gain of six percent.

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Apple Unveils Updated iPhone, Stock Slips

Apple shares slipped on Wall Street on Tuesday as the California gadget-maker unveiled an updated version of the iPhone but not a transformative new model many had been expecting.

Apple's new chief executive Tim Cook, who replaced ailing founder Steve Jobs in August, presided over the launch of the iPhone 4S at Apple headquarters in Cupertino, California.

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France Denies Dexia Bailout will Hurt State Credit Rating

French officials scrambled Wednesday to defend plans to save struggling Franco-Belgian bank Dexia, insisting it is an isolated event that poses no threat to France's own top credit rating.

Dexia, which specializes in lending to local authorities, found it could not access funding on the money markets where the Eurozone debt crisis has seen credit run dry.

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U.S. Warns NATO it Won't be able to Fill Defense Gaps

The U.S. military faces serious budget cuts and will be unable to make up any shortfalls in the NATO alliance as European members slash defense spending, Pentagon chief Leon Panetta warned Wednesday.

Fiscal pressures are bearing down on both sides of the Atlantic and NATO allies will need to work closely together to pool funds, instead of counting on America's much larger defense spending to close the gap, Panetta said.

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500 Vacancies at 'Badi Ishteghil B Lebnen' Job Fair

Fikra Group is organizing “Badi Ishteghil B Lebnen Job Fair” that will be held on Oct 27-29 at the Monroe Hotel Beirut, the group said in a press release.

The fair will be organized in collaboration with Koudourat Anti Unemployment Association, it said.

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Egypt to Substantially Raise Price of Gas to Israel: Report

Egypt will substantially raise the price of its gas exports to Israel, which have stopped after militants blew up a Sinai desert pipeline, an Egyptian newspaper reported on Tuesday.

Oil minister Abdullah Ghurab said there would be "a large increase in the price" after the revision which would be announced soon, the state-owned Al-Ahram newspaper reported.

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India's Rupee a Victim of Global Turmoil

India's rupee has slid nearly 10 percent in three months against the dollar, a consequence of global economic uncertainty that will stoke already high inflation in Asia's third-biggest economy.

The rupee's tumble makes import prices of everything from oil, fertilizers to food staples such as pulses, fuelling near-double-digit inflation and causing bigger hardship for India's poor millions.

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