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U.S. Nominates Kim for World Bank Second Term

The United States on Thursday threw its support behind World Bank chief Jim Yong Kim for a second term at the helm of the multilateral development lender.

"I am proud to announce that today the United States has nominated World Bank President Jim Kim for a second term," said US Treasury Secretary Jacob Lew in a statement.

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Taiwan to Toughen Anti-Money Laundering Law after U.S. Fine

Taiwan moved Thursday to toughen its anti-money laundering law after U.S. authorities fined a local bank linked to the so-called Panama Papers scandal.

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Russia's Biggest Bank Upbeat on 2016

Russia's largest lender Sberbank on Thursday announced it almost tripled its profits in the second quarter and predicted further stabilisation of the economy this year despite credit growth slowing.

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Oil Prices Turn Higher as Dealers Eye Output Talks

Oil prices turned higher in Asian trade Thursday, a day after suffering hefty losses in response to data showing a surprise jump in U.S. stockpiles, while hopes for a deal to limit output were dealt a blow.

The U.S. energy department said Wednesday that inventories soared 2.5 million barrels last week, confounding forecasts for a fall and fanning worries about a global supply glut.

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Qatar Buys Stake in Empire State Building

Qatar's sovereign wealth fund has bought an almost 10 percent stake in the company that owns New York's iconic Empire State Building, the official QNA news agency reported on Wednesday.

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Markets Focus on Big Mergers as Global Stocks are Quiet

Mergers provided the major action on global equities markets on Monday as major indices showed little movement.

Medivation, which makes the hit prostate cancer drug Xtandi, soared 20 percent in New York on the announcement it would be bought by the pharmaceutical giant Pfizer for $14 billion.

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The Dollar Stays Weak after Comments by Federal Reserve Head

The dollar remained at the low end of its recent range Monday as foreign exchange traders remained cautious despite somewhat hawkish weekend remarks by Federal Reserve Vice Chair Stanley Fischer.

At 2100 GMT, the dollar was virtually unchanged from late Friday at $1.1322 per euro and 100.32 yen, despite a surge during the day.

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Taiwan Probes Leading Bank Linked to Panama Papers

Taiwan is investigating a bank linked to the so-called Panama Papers scandal, in the wake of a $180 million fine levied by U.S. authorities for "flagrant disregard" of anti-money laundering laws.

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In Nepal's Himalayas, Hopes of Closer China Ties

Twice a year, a normally deserted border checkpoint high on the Tibetan plateau throngs with activity as traders from Nepal flock to do business with their giant northern neighbor China.

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Syrian Pound Drops Sharply against U.S. Dollar

The value of the Syrian pound fell sharply by six percent over the weekend, losing ground to the dollar, the central bank in Damascus said Sunday.

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