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Oil Falls after Rally Fuelled by Output Freeze Hopes

Oil prices fell on Wednesday, taking a breather after a rally fueled by reports Saudi Arabia and Russia had agreed to freeze output ahead of a key producers' meeting.

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IMF Warns over Brexit and 'Fraying' EU Integration

The International Monetary Fund warned Tuesday of potentially "severe" economic damage from a British exit from the European Union and voiced strong worries over generally deteriorating support for EU integration.

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Fitch Cuts Saudi Credit Rating over Oil Price Fall

Fitch Ratings on Tuesday lowered the long-term credit rating of Saudi Arabia because of the negative impact of lower oil prices on the world's biggest crude exporter.

The agency "has downgraded Saudi Arabia's long-term foreign and local currency" ratings to AA- from AA, it said, adding the outlook remains negative.

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Greece, Creditors Break off Bailout Talks until April 18

Greece and its bailout creditors have suspended talks on the country's austerity program until next week, after a new set of marathon overnight negotiations failed to produce a breakthrough.

Finance Minister Euclid Tsakalotos says the meetings in Athens would resume April 18, with an aim to reaching an agreement by April 22, when he is due to meet with his peers from the 19-country eurozone.

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EU Cracks Down on Tax Havens, Targeting Big Companies

The EU unveils plans on Tuesday to limit the rampant use of tax havens by the world's biggest multinationals, a measure the authorities say is made even more urgent by the Panama Papers scandal.

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Crude Holds above $40 in Asia ahead of Producers' Summit

Crude prices dipped in Asia Tuesday but held above $40 as traders awaited a summit of key oil producers next week to discuss freezing output and easing the supply glut.

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German Inflation Inches Higher in March

Inflation in Germany edged higher in March, with rising prices for food, services and rents offsetting falling energy prices, final data showed on Tuesday. 

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Israel Says Will Tax Global Online Companies

The Israel Tax Authority said Monday it was imposing a value added tax on local sales by international Internet-based firms, a change that could affect multinational giants like Google, Amazon and Facebook.

Prior to the new directive, a foreign company's income from sales in Israel would be taxed only if the product was produced locally.

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Oil Prices Rise in Asia as Doha Meeting, U.S. Report Loom

Crude prices edged down in Asia Monday following last week's gains that were fueled by data showing a drop in U.S. production, while traders look ahead to an upcoming meeting of oil majors they hope will lead to output limits.

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World Bank: China to Drag Down Growth in Developing Asia

China's economic slowdown will hit growth in developing East Asia and the Pacific from this year until at least 2018, the World Bank said Monday, warning of volatile global markets and urging caution.

Regional growth is forecast to slow from 6.5 percent in 2015 to 6.3 percent this year and 6.2 percent in 2017 and 2018, the bank said in its latest outlook.

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