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China Producer Price Falls Slow in April

Chinese producer prices declined at their slowest rate in 16 months in April, official data showed Tuesday, a positive sign for the world's second-largest economy.

The producer price index (PPI), which measures prices of goods at the factory gate and is a leading indicator of consumer inflation, fell by 3.4 percent from a year ago, the National Bureau of Statistics (NBS) said in a statement.

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Tokyo Stocks up by Break on Weaker Yen, Oil Prices

Tokyo stocks rose again Tuesday morning as a weaker yen brightened the outlook for exporters' profits while a slide in oil prices lifted airline shares.

The gains came after bargain-hunting investors on Monday pushed the Japanese market into the black after six straight losing sessions.

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Oil Traders Cautious after Plunge as Canada Fires Ease

Oil traders moved cautiously in Asia on Tuesday after the previous day's sharp losses as the threat of wildfires to Canada's crude-producing Alberta region eased and a strong greenback dampened appetite.

Canadian authorities were focusing on restoring output after the fires that have raged for a week forced oil companies in the area to shut down operations, slashing production by one million barrels a day.

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Treasure Islands: Britain's Offshore Hubs

Prime Minister David Cameron is under pressure to demand greater transparency from Britain's overseas tax havens, which critics say help promote and support corruption.

The leak of documents from Panama-based law firm Mossack Fonseca shone a spotlight on British offshore financial centers, with more than half of the 214,000 companies exposed registered in the British Virgin Islands alone.

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Massive Uncut Diamond Fetches 'Record $63 Million'

Canadian mining company Lucara Diamond on Monday announced the sale of a huge 813 carat diamond for a record $63 million (55 million euros), ahead of the sale of an even bigger one.

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Saudi Binladin Group Says Delayed Wages Paid to 10,000 Staff

Saudi Binladin Group, which has laid off tens of thousands of employees because of financial difficulties, said on Monday it has begun paying delayed wages to its remaining staff.

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Eurozone Ministers Wrangle over Greece Debt Relief

Eurozone finance ministers on Monday tackled crucial talks on unlocking vital cash and debt relief for Greece just hours after Greek lawmakers adopted unpopular reforms demanded as part of the country's bailout.

The 19 ministers, meeting in Brussels, are aiming to finally sign off on the long-delayed first review of Greece's massive EU-IMF bailout -- the country's third in five years -- and begin talks on reducing Athens's mountain of debt.

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Romania Seizes KazMunaiGaz Refinery in Tax Probe

Romanian prosecutors said Monday they had seized a refinery held by Kazakhstan's KazMunaiGaz, which recently came under Chinese control, in a tax fraud probe.

The seizure of the Petromidia refinery in eastern Romania is part of an investigation into tax evasion, money laundering and fraud.

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Crude Prices up on Canada Fires, Saudi Oil Minister Replacement

Crude prices extended gains in Asia Monday as raging wildfires hit production in Canada, while traders digested news that Saudi Arabia had replaced its oil minister.

At about 0630 GMT, U.S. benchmark West Texas Intermediate for June delivery was up 78 cents, or 1.75 percent, at $45.44 a barrel while North Sea Brent for July was up 56 cents, or 1.23 percent, at $45.93.

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Syrian Pound Hits Lowest Value in War

Syria's currency hit its lowest value since the start of the country's five-year conflict on Sunday, having depreciated more than 92 percent, an economist said.

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