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Iberia Pilots on Strike, 124 Flights Cancelled

Spanish airline Iberia said it had cancelled 124 flights on Monday as pilots began a series of one-day strikes to protest against conditions at new low-cost offshoot Iberia Express.

Pilots' union SEPLA has vowed to strike every Monday and Friday until July 20 -- a total of 30 days -- in its battle against the budget airline, which began flying on March 25.

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Chinese Inflation Rate Rises to % 3.6 in March

China's inflation rate edged up in March, driven by rising food costs, official data showed Monday, but analysts said there was still scope for Beijing to stimulate the slowing economy.

The consumer price index (CPI) rose to 3.6 percent in March from 3.2 percent in February, slightly higher than analysts' expectations, as bad weather pushed up food prices and authorities raised the price of fuel.

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Report: Sony to Axe 10,000 Jobs Worldwide

Sony will cut 10,000 jobs worldwide this year as it attempts to carry out sweeping reforms aimed at reviving the iconic but loss-making Japanese electronics giant, the Nikkei business daily said Monday.

About half the planned job cuts are part of a restructuring of Sony's chemical unit as well as operations tied to its small and medium-sized liquid crystal display panels, the Nikkei said in its online edition.

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Brussels Public Transport Halted after Staff Attack

The public transport authority in Brussels halted all buses, trams and metro trains in the Belgian capital Saturday after a controller was "beaten to death" following a traffic accident.

Spokeswoman Francoise Ledune said the controller, aged 56, was taken to hospital, where he later died.

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Japan, China Agree to Cooperate Over IMF Resources

Japanese and Chinese finance ministers agreed to cooperate over contributions to the International Monetary Fund amid efforts to help subdue Europe's sovereign debt crisis, the Agence France Presse said Saturday.

Japanese Finance Minister Jun Azumi and his Chinese counterpart Xie Xuren met in Tokyo as part of their regular dialogue, Jiji Press and Kyodo News reported.

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Iran Non-Oil Exports Surge 29% Despite Sanctions

Iran's non-oil exports surged 29 percent to nearly $44 billion in the year to mid-March despite tough Western sanctions to rein in Tehran's disputed nuclear drive, according to officials and data.

Overall exports excluding crude oil hit $48 billion, Kiumars Fathollah Kermanshahi, a deputy head of Iran's Trade Promotion Organization, told the official IRNA news agency.

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Chrysler Recalls Small Jeeps to Fix Faulty Gas Valves

Chrysler is recalling about 1,700 small Jeeps because faulty gas tank valves can cause fires.

The recall affects some 2012 all-wheel-drive Jeep Compass and Patriot SUVs.

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Saudi Petrochemicals Giant Expands in China

Saudi Basic Industries Corp. began work on a $100 million technology center in Shanghai, focusing on alternative energy and new materials for the construction and auto sectors.

SABIC's CEO Mohammed Al-Mady said Friday the center would focus on helping design and create next generation alternative energy vehicles.

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Samsung Estimates Q1 Operating Profit at $5.14 bln

South Korea's Samsung Electronics Friday estimated first-quarter operating profit at 5.8 trillion won ($5.14 billion), a 97 percent rise from a year earlier.

The world's largest technology firm by revenue was releasing earnings guidance for January-March before its official results.

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SIA's Boeing 747 Takes off on Final Trip

The last Boeing 747 passenger service operated by Singapore Airlines took off Friday for a commemorative farewell return trip to Hong Kong, the Agence France Presse reported Friday.

Flight SQ747, carrying more than 350 passengers, was due to touch down in Singapore at 7:30 pm (1130 GMT).

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