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Dollar Firm in Asia as Ukraine Tensions Ease

The dollar held steady in Asia on Tuesday as concerns over a Ukrainian clash with Russia eased, while investors looked to a speech by the US Federal Reserve chief this week.

In afternoon Tokyo trade, the greenback rose to 102.62 yen, from 102.57 yen in New York and 102.32 yen in Tokyo earlier Monday.

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Yen Ticks Up in Asia Amid Ukraine Tensions

The yen ticked up in Asia Monday as investors nervously watched the latest developments in the Ukraine crisis, while looking to a speech by the U.S. Federal Reserve chief later this week.

In Tokyo afternoon trading, the dollar slipped to 102.32 yen from 102.34 yen in New York Friday.

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Mexican Billionaire Offers Advice for Latinos

Increasing workers' earning power and offering Latino-owned companies easier access to funding that can be used for growth and expansion can help improve the social and economic status of Latinos in the U.S. and throughout Latin America, Mexican billionaire Carlos Slim told a group of religious and community leaders.

During a speech Sunday at the annual conference of the Catholic Association of Latino Leaders, Slim spoke for more than an hour on how to better the plight of Latino workers and Latino-owned businesses.

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Govt: Foreign Investment in China Slumps in July

Foreign direct investment (FDI) into China dropped by more than a sixth year-on-year to a two-year low in July, the government said Monday, but denied any link to Beijing's multiple probes into foreign companies.

FDI -- which excludes investment in financial sectors -- fell 16.95 percent in the month to $7.81 billion, the commerce ministry said, its lowest since July 2012, when it was $7.579 billion.

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Thailand Avoids Recession with 0.9 Percent Q2 Growth

Thailand dodged recession as its economy grew 0.9 percent in the second quarter, data showed Monday, after the military ended months of political deadlock with a coup and promised to unshackle state spending.

Between April and June the economy grew 0.9 percent after shrinking a revised 1.9 percent in the first quarter, the National Economic and Social Development Board reported.

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Ferrari Sells for Record $38 mln

A red 1962 Ferrari 250 GTO Berlinetta, said to be one of only a handful, was snapped up for $38.1 million in California, becoming the most expensive car ever sold at auction.

The previous record was held by a 1954 Mercedes-Benz W196R Formula 1 model bought in Britain last year for $30 million.

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Russia-Ukraine Tensions Drive Yen, Swiss Franc Higher

News that Ukraine had attacked a Russian military convoy that entered its territory sent investors fleeing to the safe-haven yen and Swiss franc on Friday, while the dollar slipped.

The foreign-exchange market reacted in a relatively muted fashion to the spike in geopolitical tensions between the neighboring countries, which had weighed on US and European equity markets and sent oil prices surging higher.

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Valeant Extends Takeover Bid for Botox Maker Allergan

Canada's Valeant Pharmaceuticals International extended its unsolicited offer to buy US Botox maker Allergan on Friday until the end of the year.

The $53.5 billion offer had been due to expire at 5:00 pm (2100 GMT). Valeant said it was now keeping it in play until 5:00 pm on December 31.

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Fitch Hikes Ireland's Credit Rating

Rating agency Fitch on Friday revised Ireland's sovereign credit rating up a notch to 'A-', citing an "employment-led recovery" with a healthier banking system.

Fitch is the second of the big three agencies to pull Ireland's rating up from 'BBB+' to 'A-' and thus higher into investment grade territory.

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Hungary PM: EU 'Shot Itself in Foot' with Russia Trade Sanctions

The EU "shot itself in the foot" by imposing trade sanctions on Russia over the Ukraine conflict, Hungarian Prime Minister Viktor Orban said in a radio interview Friday.

The European sanctions over Moscow's perceived role in separatist violence in eastern Ukraine "hurt us more than the Russians," Orban said during his weekly interview spot on state-run radio.

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