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Dubai Overtakes Heathrow as Top International Airport

Dubai International has overtaken London's Heathrow Airport to become the world's top hub in international travel after handling 70.47 million passengers in 2014, its authority said on Tuesday.

Traffic at the airport increased 6.1 percent last year, Dubai Airports said, and it expects the number of travelers passing through the hub to surge in 2015 to 79 million.

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New Greek Leader set to Unveil Anti-Austerity Government

Greece's new Prime Minister Alexis Tsipras is set to unveil his anti-austerity coalition government Tuesday, bringing together his radical left-wing party with the nationalist right, after a stunning election win that sent shockwaves through Europe.

With the new cabinet expected to be announced and sworn in on Tuesday, the world will get a closer glimpse at Greece's Syriza-led administration, now on a collision course with international creditors over plans to renegotiate its massive bailout deal.

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Russian Stocks Slide 3 Pct after S&P Downgrade

Russia's RTS index fell three percent at opening on Tuesday, a day after the Standard and Poor's ratings agency stripped the country of its investment-grade rating, cutting it to "junk" status.

The plunge in oil prices and Western sanctions over Moscow's role in the Ukraine crisis have pummelled the Russian economy in recent months, with the ruble collapsing in value.

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Irish Carrier Aer Lingus Accepts IAG Takeover Bid

Irish carrier Aer Lingus on Tuesday backed a 1.35-billion-euro ($1.51-billion) takeover offer from International Airlines Group, parent of British Airways and Iberia.

Aer Lingus announced in a statement that its board was "willing to recommend" IAG's improved proposal -- its third since December -- subject to certain conditions.

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Oil Price 'Too Low': Saudi Aramco Chief

World oil prices have fallen too far, the president of state-owned energy giant Saudi Aramco said Tuesday, stressing it was for the market not OPEC producers to shore them up.

"It's too low for everybody," Khalid al-Falih told a conference.

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Europe Warns Greece's Syriza to Stick to Austerity

The EU issued Monday a stern warning to Greece that its place in the eurozone was at risk if new Prime Minister Alexis Tsipras failed to meet the country's austerity and debt commitments.

From Brussels to Berlin officials said they were ready to talk to the new government led by Tsipras' radical left party Syriza, but insisted that Athens must stick to existing agreements with its international creditors.

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New Saudi Leaders to Press Economic Diversification

Saudi Arabia's new leadership will push forward efforts to diversify the growing but oil-dependent economy, while easing procedures for investors, senior officials said on Monday.

"The smooth transition of power to King Salman is a testament of the stability and the commitment that our leadership has," Abdullatif al-Othman, governor of the Saudi Arabian General Investment Authority (SAGIA), told a conference.

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Minister: Spain Growth Could Hit 2.5 % in 2015

Spain's recovering economy could grow as much as 2.5 percent this year if oil prices and the euro stay low, the economy minister said in an interview published Monday.

The government says its tough austerity measures have started to strengthen the economy, which officially emerged from recession in 2013 and grew an estimated 1.4 percent in 2014.

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German Business Confidence Hits Six-Month High in January

German business confidence rose to its highest level in six months in January, as the outlook for Europe's biggest economy continues to brighten, the Ifo economic institute said Monday.

The Ifo institute's closely watched business climate index rose to 106.7 this month from 105.5 points in December, the think tank said in a statement. 

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Moody's: Pakistan Fuel Crisis Weighing on Credit Worthiness

Pakistan's ongoing fuel shortage that has led to worsening power blackouts is weighing on its credit worthiness and hindering its ability to meet key reform targets laid out by the IMF, ratings agency Moody's warned Monday.

The country is currently in the grip of one of its worst power crises in years due to a shortfall in imported oil, with the situation exacerbated Sunday by an attack on a key powerline in restive Baluchistan province.

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