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Yellen Inspires Fresh Rout on Global Stock Markets

World stocks slumped Thursday, gripped by another fierce sell-off after a warning by Federal Reserve boss Janet Yellen over the global economy, while oil fell close to 12-year lows.

New York's Dow Jones Industrial Average sank overnight as Yellen also played down the chances of another U.S. interest rate hike any time soon.

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Paris, Frankfurt Stocks Markets Dip More than 3 Percent

Shares on the French and German stock exchanges fell sharply in early trading Thursday, dipping below three percent, over oil price worries and after Federal Reserve boss Janet Yellen raised concerns about the global economy.

At 0830 GMT, France's main CAC 40 index was 2,57 percent lower, at 3,956.73 points, after falling briefly more than three percent. 

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German Vegan Retailer Veganz Eyes IPO in 2018

The Berlin-based vegan food retailer Veganz is looking to treble sales this year and is eying a possible stock market listing in 2018, its founder said in a magazine interview Wednesday.

"People can't get enough of our products," Veganz chief Jan Bredack told the weekly WirtschaftsWoche.

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Medvedev Says Russia Could Lack Money for Anti-Crisis Plan

Russia may not have enough money to implement planned anti-crisis measures, Prime Minister Dmitry Medvedev warned Wednesday, asking ministers to make revisions.

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Flydubai Says Profits Nosedived 60% in 2015

Dubai's no-frills carrier flydubai said Wednesday its 2015 net profit stood at 100.7 million dirhams ($27.4 million), down 59.7 percent from the previous year, due to the strong dollar and route suspensions.

Total revenues increased 11 percent to 9.4 billion dirhams ($1.33 billion), with passenger numbers surging 25 percent to 9.04 million, it said in a statement.

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IMF Chief Lagarde Warns Ukraine over Rescue Program

An IMF program to prop up cash-strapped Ukraine's stricken economy cannot continue without reform by the authorities in Kiev, International Monetary Fund chief Christine Lagarde warned Wednesday.

"Without a substantial new effort to invigorate governance reforms and fight corruption, it is hard to see how the IMF-supported program can continue and be successful," Lagarde, the Washington-based lender's managing director, said in a strongly worded statement.

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Deutsche Bank Shares Soar More than 11% on Bond-Buying Rumors

Deutsche Bank shares soared more than 11 percent on the Frankfurt stock exchange on Wednesday, driven by speculation it may be considering a bond buyback program to help ease concern about its funds. 

Shares in Germany's biggest lender -- which had shed around 13 percent over the previous two sessions on Monday and Tuesday  -- topped an intraday high of 14.75 euros in late morning trade on Wednesday, a jump of 11.5 percent on the day.

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Tokyo Stocks Drop to Lowest since 2014 on Global Recession Fears

Tokyo stocks dropped again Wednesday to their lowest level since late 2014, as fears of a global recession hammered investor confidence ahead of testimony by the head of the U.S. central bank.

The plunge came the day after the benchmark Nikkei index posted a 5.4-percent drop, its steepest one-day decline in percentage terms since June 2013.

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Coca-Cola Earnings Rise on Higher Volumes

Coca-Cola announced a jump in fourth-quarter profits Tuesday on higher volumes and prices and said it would fully re-franchise bottling operations in North America and China in a cost-cutting move.

Net income for the 2015 fourth quarter was $1.2 billion, up 60.6 percent compared with the year-ago period.

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Report: GCC Debt to Double, Assets to Slide by 2020

Public debt of the oil-rich Gulf states is expected to double and assets decline by a third by 2020 as they seek to finance budget deficits due to sliding prices, a report said Tuesday.

After having posted massive deficits of $160 billion last year and faced with a $159 billion deficit in 2016, the six Arab states of the Gulf will have to borrow and tap into their huge fiscal reserves to finance the budget shortfall, said the report released by the head of research at Kuwait Financial Center (Markaz), M.R. Raghu.

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