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U.S. Signs $1 bn Loan Guarantee for Ukraine

The United States on Monday signed a $1 billion loan guarantee for Ukraine in support of its economic recovery after weeks of political upheaval and the loss of Crimea to Russia.

It came as pro-Russian insurgents gained more ground in eastern Ukraine, occupying a police station and an administrative building, their latest seizures in a campaign that threatens to break up the ex-Soviet state.

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Eurostat: Eurozone Industrial Output Edges Up in February

Eurozone industrial output edged higher in February, official data showed Monday, in line with recent data showing a very modest economic recovery in the single currency bloc.

The activity of the industrial sector is closed watched in the eurozone where there is deep concern in some countries about the low competitiveness of industry, particularly on export markets.

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Russian Markets, Ruble Fall over Ukraine Crisis

The Russian stock markets and the ruble fell in early trading on Monday after clashes between pro-Russian forces and the Kiev authorities in eastern Ukraine.

Western powers blame Russia for stirring up the trouble.

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Official: Greece to Issue More Bonds after Sale Success

Greece will issue more bonds after last week's successful five-year debt sale that ended a four-year drought, the head of the debt agency said on Sunday.

"The bond sale was just the first step," Stelios Papadopoulos, head of the public debt management agency (PDMA) told Kathimerini daily.

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Report: Citigroup Cuts 200-300 Jobs

U.S. bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday.

Some of the employees were fired, while others left voluntarily. Among them was Steve Prince, the younger brother of former chief executive Charles Prince, according to the newspaper.

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Future Algeria President Faces Looming Oil Rent Woes

The winner of energy-rich Algeria's presidential election must tackle a major problem facing the country -- its dependence on hydrocarbon revenues, which are used by the government to defuse social tensions and which are in decline.

Sporadic protests over poor living conditions came to a head in early 2011, as the popular uprising in neighboring Tunisia toppled a decades old-dictatorship.

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IMF: Egypt to Need More Financial Support

Egypt will need further international assistance to put its economy back on track despite receiving huge loans from Gulf Arab states, the IMF said Friday.

"Egypt will need financial support which could come from its partners in the Gulf or, if the government wants that, from the IMF and from other international financial institutions," Christopher Jarvis, the International Monetary Fund's Egypt mission chief, told reporters.

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World Finance Chiefs Fall Short on Growth Plan

Leading economic policymakers meeting in Washington voiced worry Friday that the Ukraine crisis could hurt the world economy, but fell short of taking concrete action to strengthen growth amid signs of discord.

Meeting on the sidelines of the IMF/World Bank spring meetings, G20 finance ministers and central bank chiefs pledged to follow up on reforms and support a $27 billion rescue program for Ukraine, even as Russia continues to menace its neighbor.

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OPEC Chief: Libya Oil Exports to Recover to 1 mbd by Mid-June

Libya's oil exports are likely to quadruple from current levels and hit 1 million barrels per day by mid-June after rebels ended a blockade of two terminals, OPEC Secretary General Abdullah El-Badri said Friday.

"I think the first one million barrels will come in two months' time, but after a million it will take some time. Because the main challenge now is the security," El-Badri said at an international oil conference in Paris.

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S&P Becomes Second to Downgrade Finland Outlook to 'Negative'

Standard and Poor's on Thursday downgraded Finland's outlook to "negative," putting another crack in the credit image of one of the few countries to hold the top-notch "AAA" rating.

S&P became the second ratings agency to downgrade the outlook of the Nordic eurozone member, following a similar move by Fitch in October 2013.

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