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Russia Warns of New 2013 Growth Downgrade

Russia's economy minister warned on Wednesday that officials will probably have to downgrade the 2013 growth forecast for the second time in months because of a poor first-half performance.

The Federal State Statistics Service reported on August 9 that Russia's economy expanded by just 1.4 percent of gross domestic product compared to the first six months of 2012.

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Al-Jazeera America Goes Live, Woos Viewers

Al-Jazeera America went live Tuesday, accompanied by a campaign of traditional and social media for its cable channel launch, as it pledged to outdo its rivals with serious, in-depth journalism.

Former CNN reporter Tony Harris anchored the first newscast as the channel began broadcasting at 1900 GMT.

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Emerging Market Currencies Hit by U.S. Policy Fears

Emerging market currencies have taken major hits recently as investors pull out money in anticipation the U.S. Federal Reserve will begin to taper its stimulus effort, with India and Brazil also punished for slow growth.

The plunge for some currencies has been steep, with the Indian rupee losing about 19.5 percent of its value against the U.S. dollar in the past three months to hit a record low of 64.12 rupees to the greenback on Tuesday.

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Jordan to Build Nuclear Research Reactor

Jordan's Nuclear Regulatory Commission has given the go-ahead for a first nuclear research reactor as the desert kingdom, which lacks any oil, seeks to meet its energy needs.

The five-megawatt reactor will be built at the Jordan University for Sciences and Technology near the northern city of Irbid, commission chief Majad Hawwari said.

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Versace Plans Hotel in Asian Gambling Hub Macau

Italian fashion house Versace says it has signed a deal to build a luxury hotel at a casino-resort in Macau, the world's top gambling market.

Versace and Macau casino operator SJM said in a joint statement Tuesday that the Palazzo Versace hotel will be part of the resort SJM is building in the former Portuguese colony.

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Venezuela, a Paradise in Search of Tourists

Boasting the highest waterfall in the world, nearly deserted Caribbean islands and dense jungles with ocean views, Venezuela has everything a tourist could want -- except the tourists are not coming.

In a country where explorer Christopher Columbus once believed he had found heaven on earth, officials are struggling to draw travelers, with only 700,000 visitors each year, in part due to Venezuela's somewhat tarnished image.

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New Zealand Unveils more of Privatisation Plan

New Zealand will partially privatize its largest electricity generator in early November as part of the government's plan to balance the books by 2014-15, Prime Minister John Key said Tuesday.

Key said the government would float 49 percent of Meridian Energy and retain a majority 51 percent, similar to its sale of Mighty River Power, which poured NZ$1.7 billion (U.S.$1.36 billion) into Treasury coffers when it was partially listed in May.

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Jordan to Launch 'First Phase' of Dead Sea Canal

Jordan said on Monday it plans to build parts of a project linking the Red Sea to the shrinking Dead Sea that would supply the parched country with desalinated water.

Prime Minister Abdullah Nsur said the $980-million project is designed to provide Jordan with 100 million cubic meters (3.5 billion cubic feet) of water a year.

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Greece Says Privatisations Go on, Despite Sack for Head

Greece will stick to its program of privatizations, a key part of bailout conditions, despite the sacking of the head of the privatization fund, a government official assured on Monday.

Rescue conditions laid down by the International Monetary Fund and European Union require Greece to de-nationalize parts of its economy to raise funds and increase efficiency.

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Bundesbank: German Economy Recovering, Investment Clouded

The Bundesbank forecast on Monday that the German economy, Europe's biggest, will return to "normal, steady growth" in the second half of 2013, but sounded cautious about investment.

"In the second half of 2013, economic growth in Germany is likely to return to normal and steady rates," the German central bank wrote in its August monthly report.

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