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Amazon, Flipkart Battle in India for e-Commerce's 'Last Frontier'

With 100 million new internet users every year, Amazon is betting big on India, but a major new investment in homegrown rival Flipkart means the battle to dominate the fast-growing e-commerce market is set to heat up.

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Qatar and Philippines Sign '$200M Contracts'

Qatar and the Philippines have signed trade agreements worth $200 million during the final leg of President Rodrigo Duterte's Gulf tour, Manila's trade and industry secretary told reporters in Doha Sunday.

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Iran Opens New South Pars Gas Field Phases Worth $20 Billion

Iran's President Hassan Rouhani inaugurated five new phases of the South Pars gas field on Sunday, the result of some $20 billion in investment, local media reported. 

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Credit Suisse Execs Take Bonus Cuts of 40% after Outcry

Credit Suisse's chief and other top executives offered Friday to have their bonuses slashed by 40 percent, following investor concern over the size of their proposed compensation packages.

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US Banks Report Solid Earnings, Still Hopeful on Trump Agenda

Strong trading results, rather than lending, was the driving force behind solid earnings reported by large US banks Thursday, as executives expressed measured optimism about the prospects for President Donald Trump's pro-growth agenda.

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Trump Says China is Not Manipulating Currency

U.S. President Donald Trump reversed himself Wednesday and said China is not manipulating its currency to gain a trade advantage.

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World Oil Market 'Close to Balance' Despite OPEC Cuts

Supply and demand in the oil market are close to matching up, the IEA said Thursday, as landmark OPEC-led production cuts are mitigated by rising US supply and slipping worldwide demand growth.

The compliance rate with the agreement among OPEC members and some non-members, including Russia, "has been impressive", the International Energy Agency (IEA) said in its monthly oil market report, giving a lift to oil prices.

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Saudi Raises $9 bn in First Global Islamic Bond Issue

Saudi Arabia raised $9 billion in its first global Islamic bond issue, the government announced on Thursday, a move analysts say could ease pressure on foreign reserves.

The sale of Islamic bonds, known as sukuks, comes after the kingdom in October turned to the conventional global debt market for the first time, raising $17.5 billion in a bond issue.

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Airplane Manufacturer ATR Signs 20-Aircraft Deal with Iran

European airplane manufacturer ATR says it has signed a deal with Iran Air for 20 aircraft with an option for 20 more.

ATR spokesman David Vargas confirmed the deal for the 20 ATR-600s, a twin-propeller aircraft, were signed on Thursday. He declined to offer a value for the deal.

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Large U.S. Firms Stashed $1.6 Trillion in Tax Havens, Says Oxfam

The 50 largest U.S. companies, including Apple, Microsoft and Wal-Mart, are parking about $1.6 trillion in offshore tax havens to reduce their U.S. tax burden, according to a study published Wednesday. 

Poverty-fighting organization Oxfam America said the sum for 2015 was a $200 billion increase over the prior year. The report cites the companies' own data.

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