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Officials: Kuwait-Iraq Flights to Resume After 20 Years

Iraq approved a request from Kuwait's Jazeera Airways to operate services to Baghdad and Najaf, more than 20 years after direct flights between the neighbors were halted, officials said Thursday.

"We agreed yesterday to the request of the Kuwaiti Jazeera Airways company to (begin) flights from Kuwait to Iraq," said Nasser Hussein Bandar, the head of Iraq's civil aviation authority.

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Iraq Oil Exports Resume after Pipeline 'Sabotage'

Iraq resumed pumping oil via a pipeline through Turkey after a fire resulting from an "act of sabotage" was brought under control, the Iraqi oil ministry said on Thursday.

"The pumping of oil was resumed at mid-day (0900 GMT) at the same rate after the fire was brought under control," ministry spokesman Assem Jihad told Agence France Presse.

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Dexia Finalizes Sale of Luxembourg Unit for €730 mn

The fallen Franco-Belgian bank Dexia finalized the sale of a 90 percent stake in its Luxembourg unit to a Qatari investment fund, the bank said Thursday.

"Precision Capital, a Qatari investment group, will acquire 90 percent of Dexia's stake in Banque Internationale Luxembourg," Dexia said in a statement, adding that the state of Luxembourg will acquire the remaining 10 percent as part of the deal.

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Oil Recovers in Asia After New York Sell-Off

Oil recovered in Asian trade Thursday after sharp losses in New York triggered by a larger-than-expected jump in US crude stocks, analysts said.

New York's main contract, West Texas Intermediate crude for delivery in May, gained 78 cents to $102.25 per barrel in the afternoon while Brent North Sea crude for May rose $1.04 to $123.38.

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Fuel Arrives in Gaza Under New Deal

Fuel began arriving in Gaza on Wednesday as per a new deal between the territory's Hamas government and the Palestinian Authority in the West Bank, an official said.

"Tanks of fuel holding 45,000 liters each entered through the Kerem Shalom crossing this morning," Raed Futuh, the coordinator on the Palestinian side of the crossing, told Agence France Presse.

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Oil Prices Drop In Asian Trade

Oil fell in Asian trade Wednesday as hopes for a fresh dose of monetary stimulus from U.S. Federal Reserve were doused by the U.S. central bank, analysts said.

New York's main contract, West Texas Intermediate crude for delivery in May, shed 43 cents to $103.58 per barrel. Brent North Sea crude for May settlement was down 20 cents at $124.66 in the afternoon.

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Nissan Eyes Over 10% of U.S. Auto Market

Renault-Nissan is aiming for more than a 10 percent share of the U.S. auto market, the alliance's boss Carlos Ghosn told Agence France Presse on Tuesday on the heels of encouraging sales figures.

"We want to reach 10 percent then we will set a goal" for a bigger market share, "but first we need to reach (10%) for more than one consecutive month," said Carlos Ghosn, Renault-Nissan Alliance's chief executive.

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Germany's New Car Sales up in March

New car registrations in Germany, a key gauge of demand in one of the most important sectors of Europe's biggest economy, rose in March, official data showed on Tuesday.

A total 339,123 new cars were registered last month, 3.4 percent more than the same month last year, the German federal motor transport authority KBA calculated in its monthly statistics.

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Abu Dhabi's Etihad Airways Sees Sales Jump

Etihad Airways said on Tuesday that its sales have jumped 28 percent to $989 million so far this year as it pushed ahead with its rapid expansion, the Associated Presse reported.

The Abu Dhabi-based airline's CEO James Hogan said the airline turned a profit in the first three months of 2012. That follows its first year in the black in 2011. He declined to provide quarterly earnings figures.

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Oil Prices Down on Profit-Taking, Weak Eurozone Data

Oil prices retreated in Asian trade on Tuesday as investors took profits from gains in New York, while weak Eurozone manufacturing data also pressured prices, analysts said.

New York's main contract, West Texas Intermediate crude for delivery in May, shed 38 cents to $104.85 per barrel while Brent North Sea crude for May settlement was down 45 cents at $124.98 in the afternoon, the Agence France Presse reported.

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