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Stock Markets Climb on Trade Talks Optimism

Stock markets rose Friday after U.S. President Donald Trump struck an upbeat note on trade talks with China, while the pound ended a volatile Brexit-fueled week by rising against the dollar.

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World Can Rely on OPEC Supply Cushion for Urgent Oil Needs, IEA Says

Production cutbacks by OPEC nations are building a supply cushion that could be called upon to mitigate a possible supply shock from an abrupt drop in crisis-hit Venezuela's output, the IEA said Friday.

With a nationwide blackout that paralysed the country for one week, demonstrating the unreliability of the country's electricity network, new questions are being raised about Venezuela's ability to continue to produce and export oil.

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Asian Markets Rally as Trump Signals Trade Talks Optimism

Asian markets rose Friday as Donald Trump struck an upbeat note on trade talks with China, while the pound held steady after British MPs voted to delay Brexit.

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Trump Hails 'Unlimited' Potential of Britain Trade Deal

U.S. President Donald Trump on Thursday hailed the "unlimited" potential of a trade deal with Britain -- as Brexit is deadlocked in parliament.

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European Parliament Deals Setback to EU-U.S. Trade Talks

The European Parliament on Thursday failed to back the launch of trade talks between the EU and the United States, dealing an unexpected blow to efforts to avert a trade war.

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Pound Drops after Brexit-Fuelled Highs

The pound retreated Thursday awaiting yet another Brexit vote, after the UK currency struck multi-month highs versus the dollar and euro thanks to British MPs ruling out a no-deal departure from the European Union. 

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Giant UAE Port Operator Posts Rise in 2018 Profit

Dubai port and logistics giant DP World said Thursday its net profit for 2018 rose over five percent on increased trade and higher returns from new acquisitions.

The global provider, which runs port operations in over 40 countries, said in a statement that it posted a net profit of $1.27 billion in 2018, compared to $1.21 billion the previous year.

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Risks to Britain's Economy of a 'No Deal' Brexit

Britain's economy faces major possible risks in the event of a "no deal" Brexit including recession, a collapse in the pound, surging inflation, and multinationals leaving the UK.

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UAE Regrets Inclusion in EU Tax Blacklist

The United Arab Emirates has slammed a European Union decision to add it to a tax haven blacklist despite the Gulf state's efforts to meet EU requirements.

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Britain Says to Scrap Tariffs on 87% of Imports in No-Deal Brexit

Britain will slash import tariffs in case of a no-deal Brexit and will not apply customs checks on the border with Ireland, the government said on Wednesday.

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