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Saudi Sovereign Fund Secures $11bn Loan

Saudi Arabia's sovereign wealth fund said Monday it had secured its first ever international loan, boosting the kingdom's diversification drive after its flotation of state oil giant Aramco stalled.

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IMF: No-Deal Brexit Would Entail Substantial Costs

Britain's economy would suffer "substantial costs" if it leaves the European Union next March with no divorce agreement in place, the International Monetary Fund warned Monday.

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Asian Markets Hit by Fears of New Trump Tariffs on China

Asian markets sank on Monday following reports that Donald Trump is planning to hit China with another round of tariffs, dealing a blow to hopes for talks between the two economic giants.

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Samsung Heir in South Korea's Delegation to North

The heir to the Samsung empire and the leaders of several other South Korean conglomerates will go to Pyongyang this week for an inter-Korean summit, Seoul announced Sunday.

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Spanish Farmers Go Nuts for Almonds as Global Demand Booms

Surging worldwide demand for almonds is pushing Spanish farmers to replace traditional wheat and sunflower fields with almond orchards, transforming the landscape in the south of the country.

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Macron Walks Back on Pledge to End 'Exit Tax' on High Earners

France will keep a less restrictive version of its "exit tax" on wealthy people who take assets out of the country, and not completely scrap it as President Emmanuel Macron pledged earlier this year.

The 30 percent levy was introduced by former president Nicolas Sarkozy to keep top earnings from leaving France for countries with lower tax rates.

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Iran Says OPEC Has 'Not Much Credit' Left

Oil cartel OPEC has "not much credit" left as some members are turning it into "a tool for the U.S.," a senior Iranian official said.

"Saudi Arabia and the UAE are turning OPEC into a tool for the U.S. and consequently the organization has not much credit left," Iran's OPEC governor Hossein Kazempour Ardebili told the Shana newswire, affiliated to Iran's Oil Ministry.

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Reports: U.S. to Impose Tariffs on $200 Billion in Chinese Goods

U.S. President Donald Trump has decided to impose tariffs on $200 billion in Chinese imports and could make the announcement in the coming days, US media reported.

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Canada Working on WTO Reform

Canada is working on a project for reform of the World Trade Organization (WTO) and aims to organize international talks on the subject next month, Canadian sources said Friday as US pressure on the body mounts.

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'Crucial Period' for Oil as Iran Exports Shrink, Says IEA

Global oil output hit a record of 100 million barrels per day in August, but the market may tighten and prices rise as exports from Iran and Venezuela decline, the International Energy Agency said Thursday.

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