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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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Oil Drops Below $100 in London, Hits 1-Year Low in New York

Crude oil prices dropped below $100 a barrel in London and hit a one-year low in New York on Tuesday over heightened Eurozone crisis concerns that sent European stocks plunging.

Brent North Sea crude for delivery in November stood at $99.95 in late London deals, down $1.76 compared with Monday's close.

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Arab Spring Sparks Sharp Fall in Foreign Investment

The flow of foreign direct investment into the Arab world is expected to slump by 17 percent in 2011, with countries that saw popular uprisings worst hit, a pan-Arab organization said on Tuesday.

FDI inflows into 21 Arab nations are forecast to fall to $55.1 billion this year compared to $66.2 billion in 2010, the Kuwait-based Arab Investment and Export Credit Guarantee Corp. said in a report.

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China Says 'Firmly Opposes' U.S. Senate Currency Bill

China said Tuesday it "firmly opposed" a U.S. Senate bill aimed at punishing Beijing for its alleged currency manipulation, which is expected to make its final passage later this week.

The bill -- which comes 13 months ahead of U.S. elections in which high unemployment is likely to be an issue -- sets the stage for retaliatory duties on Chinese goods if Beijing is found to keep its currency artificially cheap.

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