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India Announces Sweeping Foreign Investment Reforms

India Monday announced a sweeping relaxation of foreign direct investment (FDI) rules in civil aviation, defense and a string of other sectors as part of efforts to open up the economy.

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Pound Extends Rally in Asia as Brexit Fears Ease

The pound extended its rally in Asian trade Monday as investors swung their bets to Britain voting to remain in the European Union this week.

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Oman Raises $2.5 Billion in Bonds to Meet Deficit

Oman has raised $2.5 billion in a bond sale arranged by five international banks to help meet its budget deficit resulting from low oil prices, the finance ministry said Saturday.

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Reserve Bank of India Governor Says Will Step Down in September

The popular governor of the Reserve Bank of India, Raghuram Rajan, will step down when his term ends in September, he wrote in a letter to colleagues published on the central bank's website Saturday.

"On due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as Governor ends on September 4, 2016.

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NYT: Hackers Divert $50mn in Blow to Virtual Currency

Hackers have diverted more than $50 million in digital currency from an experimental fund meant to demonstrate that such money is safe for use, according to the New York Times.

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IMF Says Brexit Impact 'Negative and Substantial' for UK

The International Monetary Fund warned Friday that if Britain votes to exit the European Union next week it could deal the economy a "negative and substantial" blow.

In the worst-case scenario, the economy would sink into recession next year and overall economic output would be 5.6 percent lower than otherwise forecast by 2019, with unemployment rising back above six percent, according to an IMF analysis.

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Syria Hikes Price of Petrol by 40%

Syrian authorities on Thursday decided to raise the price of fuel, the official news agency SANA said, including petrol by 40 percent.

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Poland Throws Down Gas Gauntlet to Russia

Poland on Friday received its first-ever commercial LNG delivery from the Middle East at its brand new Baltic sea terminal, a key step in easing its dependence on Russian gas.

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World Stocks Rebound as Brexit Campaign on Pause

European and Asian stock markets rebounded strongly Friday, with traders signalling that the tragic murder of a pro-Europe lawmaker in Britain could swing the upcoming referendum vote to remain in the EU.

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Brazil's Temer Involved in Petrobras Graft, Says Witness

Brazil's interim president Michel Temer was involved in a massive corruption scandal shaking the country's political establishment and asked for dirty cash diverted from state oil company Petrobras, a key witness said.

The explosive allegations were made by Sergio Machado, the former chief executive of Petrobras subsidiary Transpetro, in a plea deal with prosecutors that could take down yet more big-name politicians in the sweeping scandal.

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