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Japan's ANA Cancels 335 Flights in Dreamliner Glitch

Japan's All Nippon Airways (ANA) said Monday the worldwide grounding of Boeing's Dreamliner forced it to cancel 335 flights up to next Sunday, affecting nearly 48,000 passengers.

ANA said cancellations on domestic routes from January 16, the day that one of its Dreamliners made an emergency landing, sparking a global alert, to January 27 amount to 292 flights for 44,074 passengers.

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Cyprus Bank Bailout Review Delayed

The Cyprus Central Bank said on Saturday that a study into how much the country's Greek-exposed banking system needs as part of an EU bailout package has yet to be finalized.

The bank said in a statement that the due diligence review of the banking system -- expected to be completed on January 18 -- was not yet finalized.

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Secluded Turkmenistan Edges Closer to WTO

Turkmenistan on Saturday indicated for the first time an intention to join the World Trade Organization, in a surprising move by a country with an economy still dominated by Soviet-style five year plans.

President Gurbanguly Berdymukhamedov ordered Deputy Prime Minister Annamukhammet Gochiyev to "examine the issue of Turkmenistan's joining the WTO," the state newspaper Neutral Turkmenistan said.

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Saudi FM: Economic Summit must Tackle Arab Spring

A two-day economic summit that opens Monday in Saudi Arabia must break with tradition and tackle people's aspirations in the wake of the Arab Spring uprisings, the Saudi foreign minister said.

"Our meeting should not be mired in routine," Prince Saud al-Faisal said at a meeting Saturday to prepare for the third Arab Economic and Social Development Summit.

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Overcharging Batteries Eyed in Boeing 787 Mishaps

It's likely that burning lithium ion batteries on two Boeing 787 Dreamliners were caused by overcharging, aviation safety and battery experts said, pointing to developments in the investigation of the Boeing incidents as well as a battery fire in a business jet more than a year ago.

An investigator in Japan, where a 787 made an emergency landing earlier this week, said Friday the charred insides of the plane's lithium ion battery show the battery received voltage in excess of its design limits.

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S&P Hits 5-Year High as Markets Score Weekly Gain

U.S. markets turned in their third straight week of gains Friday with the S&P 500 and the Dow clawing up to their best closing levels in five years.

Activity was hedged by a mixed batch of earnings, but the heavyweight banks -- with the exception of Citigroup -- underpinned the week's gains with their steady-or-better earnings.

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Obama's Inauguration a Boon for Businesses

Tucked behind a tidy souvenir shop storefront on the ground floor of an office building one block from the White House, t-shirts, sweatshirts, buttons and a vast assortment of inauguration paraphernalia is staged for an onslaught of purchasing.

Over the course of the weekend, which culminates on Monday on the grassy, park-like National Mall when U.S. President Barack Obama will be sworn in for a second time, Washington businesses that cater to tourists are girding for a deluge of customers.

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Bad Loans Hit New Record at Spanish Banks

The mountain of bad loans held by Spain's banks grew to a new record in November, with more than one in nine at risk of not being repaid, central bank figures showed on Friday.

The level of doubtful loans -- mostly real estate credits -- reached 11.38 percent of total loans, up from 11.23 percent in October, the Bank of Spain said in a report.

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IEA: Oil Market Tightens, Raid Clouds Algerian Energy

Price pressures on the global oil market have suddenly tightened, and the deadly hostage drama at a gas field in Algeria puts a "dark cloud" over the country's entire energy sector, the International Energy Agency warned on Friday.

The IEA said that a dominant factor in the global energy market now "has a lot to do with political risk writ large, and not just in Syria, Iran, Iraq, Libya or Venezuela", and including regulatory risks.

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China Annual Growth Hits 13-Year Low

China's economy grew at its slowest pace in 13 years in 2012, the government said Friday, but an uptick in the final quarter pointed to better news ahead for a prime driver of the tepid global recovery.

Gross domestic product (GDP) in the world's second-largest economy expanded 7.8 percent last year in the face of weakness at home and in key overseas markets, the National Bureau of Statistics (NBS) announced.

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