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Austrian Oil and Gas Group OMV Back in Black

Austrian oil and gas group OMV said Wednesday that it returned to profit last year, helped liked its rivals by a rise in crude prices.

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Venezuela Begins Selling Oil-Backed Cryptocurrency

Venezuela formally launched its new oil-backed cryptocurrency on Tuesday in an unconventional bid to haul itself out of a deepening economic crisis.

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S&P: Dubai Property Slump to Continue

A three-year downturn in Dubai's property market will likely continue until at least 2020, Standard & Poor's said Tuesday, citing low oil prices, the introduction of VAT and a Gulf diplomatic crisis.

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WTO Chief Urges U.S. to Avoid Paralyzing Trade System

The World Trade Organization chief, in an interview with AFP, urged the United States to avert "paralysis" in the global trade dispute settlement system, as economic tensions between Washington and China ratchet up. 

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EU Vows to Strike Back at Trump Trade Threat

The EU warned on Tuesday it would take "appropriate measures" to defend its interests if the U.S. imposes tough trade sanctions as President Donald Trump delivers on his protectionist policies. 

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HSBC More Than Doubles Pre-Tax Profits to $17.2 bn in 2017

Banking giant HSBC more than doubled pre-tax profit to $17.2 billion in 2017, it announced Tuesday, after a recovery drive to streamline its business and slash costs.

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Trump Junior to Wine and Dine Luxury Flat Buyers in India

Dozens of property investors and their families will be treated to dinner with Donald Trump junior in Delhi this week after snapping up flats in a Trump Towers luxury development on the outskirts of the Indian capital.

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Israel Announces 'Historic' Gas Contract with Egypt

Israel has struck an "historic" contract for sales of billions of dollars' worth of natural gas to Egypt, Prime Minister Benjamin Netanyahu announced Monday.

"This will bring billions of dollars to state coffers," he said in a statement announcing the deal with Egypt, which in 1979 became the first Arab state to sign a peace treaty with Israel.

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U.N. Warns of Rising Food Insecurity across Africa

About 224 million people are suffering from malnutrition across Africa as climate change and conflicts heighten food insecurity across the continent, a top U.N. food agency official said Monday.

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Japan Books First Trade Deficit in Eight Months

Japan logged a trade deficit in January, the first negative figure in eight months, as imports of fossil fuel overwhelmed the revenue from exports, government data showed Monday.

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