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A Year after Cash Ban, India's Black Money Market is Thriving

When India declared most bank notes unuseable a year ago in an effort to flush out tax cheats, one steel manufacturer was so spooked he resolved to do business by the book in future.

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Offshore Law Firm at Center of Paradise Papers

Bermuda-based law firm Appleby, which specializes in offshore finance, is at the center of the Paradise Papers leak that has sent shockwaves around the world.

Appleby provides investment advice to businesses and wealthy people seeking to lower their tax burden and protect their cash.

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EU Pushes for Tax Blacklist after Paradise Papers Leak

The EU on Tuesday pushed for Europe to draw up a blacklist of tax havens after the "Paradise Papers" revealed loopholes used by Apple and Nike as well as celebrities such as Formula One champion Lewis Hamilton.

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Gulf Stocks Slide on Saudi-Iran Duel

Stock markets in energy-rich Gulf states dropped on Tuesday, hit by rising tensions between Saudi Arabia and Iran, a royal purge in Saudi Arabia and other regional disputes.

The decline was led by shares in Kuwait and Qatar, where the stock index dropped to its lowest level since March 2011 as the country reels from a five-month-old boycott by neighbouring nations.

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Oil Surges as Saudi Arabia, Iran Trade Accusations

Oil prices made rapid gains overnight as geopolitical tensions surged between Saudi Arabia and Iran, sparking fears of a conflict that could disrupt supplies from two major producers.

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Qatar Buys 9.6% Stake in Cathay Pacific

Qatar Airways announced on Monday it has bought a stake in Cathay Pacific, giving the Doha-based airline a toehold in the potentially lucrative Asian aviation market.

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Britain Frozen Out as EU Finance Chiefs Plot Future

European Union finance ministers meet without Britain in Brussels on Monday to try to iron out their differences on plans to reform the euro in the wake of the shock Brexit vote.

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UAE and Qatar Stake Billions in 'Soft Power' Showdown

The opening this week of the glittering Louvre Abu Dhabi museum marks the latest stage in a multi-billion-dollar "soft power" showdown between energy giants Qatar and the United Arab Emirates.

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Saudi to Freeze Accounts of Those Arrested in 'Corruption' Crackdown

Saudi Arabia said Sunday that bank accounts of dozens of high-profile figures arrested in an anti-corruption sweep will be frozen.

"The accounts and balances of those detained will be revealed and frozen. Any asset or property related to these cases of corruption will be registered as state property," the kingdom's information ministry said.

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Shares of Al-Waleed bin Talal's Company Dive after Reports of Arrest

Shares in Kingdom Holding, 95 percent of which is owned by billionaire Prince Al-Waleed bin Talal, dived 9.9 percent as the Saudi stock exchange opened Sunday after reports of his arrest.

The Saudi Tadawul All-Shares Index (TASI) also dropped 1.6 percent only a minute after the start of trading on the Arab world's largest stock market following a sweeping crackdown on corruption that saw the arrest of leading royals and businessmen.

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