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Because of Syrian War, Lebanon's Tobacco Industry is Booming

Syria's conflict has caused hundreds of thousands of refugees to flee to Lebanon, putting a huge strain on the Lebanese economy and its already-crumbling infrastructure.

But the five-year Syrian civil war has been a boon for at least one economic sector: the tobacco industry.

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Oil Dips in Asia Amid Saudi Arabia Output Boost Reports

Oil prices eased slightly in Asia Thursday amid reports OPEC kingpin Saudi Arabia would further raise output in August.

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British Unemployment Claims Fall after Brexit Vote

Britain witnessed a surprise drop in claims for unemployment benefits in July, the immediate aftermath of the country's vote in favor of exiting the European Union, official data showed Wednesday.

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British Shoppers Begin to Feel Post-Brexit Pinch

From computers and cars to carpets and food, Britain's decision to leave the EU is beginning to hit consumers in the pocket, having already spread uncertainty through the property market.

The consequences of the shock vote have so far been mainly theoretical, but recent data suggest that the country's tumbling currency is about to reach the High Street.

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Russia Plans Meeting with OPEC in October

Russia's energy ministry on Tuesday said it was making plans for a possible meeting with the Organization of Petroleum Exporting Countries (OPEC) in October, as the sector grapples with lower crude prices due to a global supply glut.

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Egypt Eyes Tough Reforms in Last-Ditch Bid to Save Economy

Egypt hopes a $12-billion financing deal with the IMF will usher in an economic turnaround but real progress hinges on a tough reform package avoided for decades to stave off unrest.

The financing over three years -- deemed an endorsement to attract more foreign aid -- would go together with a currency devaluation and streamlining of Egypt's bloated subsidy system.

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Oil Halts Rally as Market Weighs Chance of Output Freeze

Oil prices eased in Asia Tuesday as doubts emerged that Saudi Arabia and other major producers would reach an agreement to freeze output during a meeting next month.

Members of the Organization of Petroleum Exporting Countries (OPEC) as well as non-members are scheduled to meet informally in Algeria in September, and Saudi Arabia's oil minister Khalid al-Falih has hinted that discussions could include actions to stabilise prices.

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Oil Extends Gains above $44 on Output Freeze Hopes

Oil traded above $44 a barrel in Asia Monday, extending gains on hopes crude producers would agree to freeze output at a meeting next month, easing a stubborn global supply glut.

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Strife-Torn Libya Struggles to Ramp Up Oil Exports

Jihadist attacks and political struggles are thwarting attempts by Libya's unity government to revive an oil industry seen as vital for the economy of the impoverished North African country.

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Nigeria Wrestles with 'Suddenly Poor' Status

First it was falling oil prices that plagued Nigeria, then came inflation, power shortages, and a humanitarian crisis in the north.

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