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Dutch Economy Grows 0.2 Percent, Out of Recession

The Dutch economy grew by an estimated 0.2 percent in the third quarter, the CBS statistics office said Tuesday, confirming a slow emergence from recession.

The figure was slightly higher than the forecast of 0.1 percent issued by the central statistics office last month.

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French Economy Contracted 0.1 Percent in Third Quarter

France's economy contracted 0.1 percent in the third quarter of 2013, the statistics body INSEE confirmed Tuesday, but it is expected to post 0.4-percent growth for the fourth quarter.

GDP growth in the second quarter was slightly higher than forecast, at 0.6 percent instead of 0.5 percent.

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Japan OKs Record Budget, Sees Deflation Threat Recede

Japan approved its biggest ever budget Tuesday, as an improving economy and a sales tax hike made room for more defense spending and the first step towards achieving a balanced budget.

Prime Minister Shinzo Abe's cabinet rubber-stamped a plan that will see the government spend 95.88 trillion yen ($922 billion) in the year from April 2014, up from 92.61 trillion yen the previous year.

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Saudi Announces Record $228 bn Budget for 2014

Saudi Arabia announced on Monday a record budget of $228 billion for 2014, slightly up from $218.7 billion budgeted for this year, Al-Ekhbariyah state news channel reported.

The world's largest oil exporter also expected to conclude this year with a budget surplus of 206 billion riyals ($54.9 billion, 40 billion euros), after budgeting for a surplus of around $613 million.

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Italy 'Stability Dividend' Lowers Borrowing Costs

Italian Prime Minister Enrico Letta admitted Monday his country was suffering from "social fatigue" but said his government had brought "a stability dividend" worth billions of euros due to lower borrowing costs.

"We have to respond to social fatigue," he said at an end-of-year press conference, as the country tries to recover from its longest recession since World War II.

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Gold Facing First Annual Price Drop Since 2000

Barring a late price surge, gold's value will suffer its first annual drop since the start of the millennium, while the precious metal risks further losses in 2014.

Gold stood at $1,205 an ounce Friday on the London Bullion Market, down almost 27 percent in 2013 on weaker demand and easing inflation -- snapping twelve years of uninterrupted annual price growth.

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Swatch Wins Compensation from Tiffany's in Contract Row

Swiss watchmaker Swatch Group has won a lawsuit against U.S. jewelry group Tiffany & Co over a failed joint venture to jointly design and market luxury watches.

Tiffany was required to pay Swatch 402 million Swiss francs (327 million euros, $449 million) under the ruling by the Netherlands Arbitration Institute, Swatch said in a statement.

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Libya again Threatens Use of Force to End Oil Blockade

Libyan Oil Minister Abdelbari al-Arusi on Saturday issued a renewed threat of force to lift a months-long blockade of oil terminals by striking autonomists.

"The government is making every effort to hold talks with those blockading the terminals," he told journalists on the sidelines of a conference in Doha of the Organisation of Arab Oil Exporting Countries.

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Saudi Sees Stable Global Oil Market in 2014

Saudi Oil Minister Ali al-Naimi said Saturday he was "optimistic" regarding the outlook for the world oil market in 2014, which he expects to remain stable.

"I estimate that stability will continue in terms of supply, demand and prices," Naimi said at the opening of a meeting in Doha of the Organisation of Arab Petroleum Exporting Countries.

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Tourists to Spend $10 Billion During Brazil World Cup

Foreign and Brazilian tourists are expected to spend $10.4 billion during next year's World Cup, more than the public funds invested for staging the event, the Brazilian tourism board said Friday.

"These are important resources which fuel economic sectors of all Brazilian regions, from aviation to the informal economy," said Flavio Dino, president of state tourism board Embratur, in a statement titled "Mega-events are worth it."

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