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Oil Services Group Schlumberger Completes Cameron Merger

Franco-American firm Schlumberger, the world's largest oilfield services company, has completed  its merger with smaller rival Cameron International Corporation worth $14.8 billion.

U.S. authorities had given the clearance in November, the EU in February and the Chinese authorities gave their assent last month, paving the way for what Schlumberger  termed the sector's leading integrated industrial complex.

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Obama Says Will 'Take Time' for Iran to Rejoin Global Economy

U.S. President Barack Obama said on Friday it will take time for Iran to rejoin the global economy, as the country's leadership and citizens express unease that a sanctions windfall has been slow to materialize.

"It will take time for Iran to reintegrate into the global economy, but Iran is already beginning to see the benefit of this deal," Obama said at a meeting of world powers in Washington.

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Spain's Gamesa Wants Break from Areva to Clear Takeover by Siemens

Spanish wind turbine maker Gamesa has asked French energy giant Areva to break their partnership to clear its takeover by Germany's Siemens, the Expansion financial daily reported Friday.

"The proposal on the table is to reach an agreement to amicably dissolve the alliance between Gamesa and Areva," the paper said, adding that consulting banks are looking at different options to unwind their respective stakes in a joint wind energy company created in March 2015.

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Britain Implements Minimum Wage Revamp

Britain's minimum wage rises by 7.5 percent on Friday in a re-branding exercise by the Conservative government that has been denounced by critics as largely symbolic in an era of state austerity.

Around 1.8 million employees will benefit from the National Living Wage (NLW). 

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Zaha Hadid, Architect Famed for Futuristic Curves, Dies Aged 65

Zaha Hadid, the world's most famous female architect who attracted plaudits for works of sweeping curves and controversy for huge cost overruns, died on Thursday at the age of 65, her company said.

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'Success Story' Cyprus Exits Bailout Program

Cyprus on Thursday concluded its multi-billion-euro bailout program with the European Union's rescue fund as it battles back from a financial crisis that ravaged its banking sector.

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Israel Reduces Power to Palestinian City over Debt

Israel's state-run electricity company on Thursday reduced the power supply to a Palestinian city in the occupied West Bank over a debt of $450 million, officials said.

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Turkey Economy Grows Robust 4 Percent in 2015 Despite Crises

Turkey's gross domestic product (GDP) grew 4.0 percent in 2015 from a year earlier, the statistics office said Thursday, beating expectations and helped by an unexpectedly robust fourth quarter.

The economy grew 5.7 percent in the last three months from the same period a year earlier, the office said in a statement, well above the market consensus. 

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Philippines Can Recover Big Chunk of Stolen Bangladesh Millions

Almost half of the $81 million that hackers stole from Bangladesh and funneled into Philippine casinos can still be recovered, a senior Filipino lawmaker investigating the audacious cyber heist said Thursday.

As much as $34 million remained in two casinos and a foreign exchange brokerage, senator Ralph Recto said, citing testimonies from a marathon hearing on Tuesday.

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Oil Prices Resume Fall in Asian Trade

Oil prices fell on Thursday as a smaller-than-expected increase in US stockpiles was overshadowed by ongoing worries about a global supply glut while analysts said a rises fueled by hopes over key output talks had mostly been priced in.

The US Department of Energy (DoE) on Wednesday reported another rise in US commercial crude stockpiles last week, by 2.3 million barrels.

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