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French Wine Industry Faces 'Challenging Year' as U.S. Exports Drop

French wine exports to the United States plunged by almost a fifth in the last quarter of 2019 as punitive tariffs kicked in, the FEVS industry body said Wednesday, and warned of a "challenging year" ahead.

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World Mobile Congress Canceled over Coronavirus Fear

Organizers of the World Mobile Congress said Wednesday they have cancelled the world's top mobile trade fair due to fears stemming from the coronavirus, following an exodus of industry heavyweights.

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Smoke, Soot and Sweat: Egypt's Charcoal Workers

To fuel Egyptians' love for shisha pipes and barbecues, Said Mahrous and his men toil in an open-air furnace, inhaling thick plumes of smoke day in, day out.

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IMF Due in Argentina for Debt Restructuring Talks

Delegates from the International Monetary Fund were to arrive in Argentina on Wednesday to begin talks on restructuring the recession-hit South American country's crippling foreign debt.

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UK Economy Stalls in Fourth Quarter of 2019

Britain's economy saw zero growth in the final quarter of last year as manufacturing shrank heading into the country's general election that unlocked Brexit, official data showed Tuesday.

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Israel Blocks Palestinian Agricultural Exports, Escalating Trade Spat

Israel on Sunday imposed a ban on Palestinian agricultural exports, in a move the Palestinians blasted as a "dangerous" escalation in a five-month trade war. 

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SGBL Decries 'Organized Campaign', Vows Lawsuits

Lebanon’s SGBL bank on Friday lamented that it is facing “an organized campaign aimed at stripping it of the confidence of its clients and the public.”

“In this regard, al-Akhbar newspaper has accustomed us to such campaigns, and this systematic campaign has been followed by TV campaigns championed by a so-called economic expert who has given TV interviews that are only aimed at insulting Société Générale de Banque au Liban S.A.L. and its owners,” SGBL said in a statement.

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U.S. Job Creation Surges in January, Adding 225,000 Positions

The American economy saw an explosion of new hiring in January, possibly helped by mild weather but getting the year off to an impressive start, according to key government data released Friday.

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World's Most Expensive Whiskies Go Up for Sale

Some of the world's rarest and most expensive whiskies went on sale on Friday in an online auction of a private collection amassed by a late U.S. soft drink bottling tycoon.

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Société Générale S.A. (France) is Not Divesting its Participation in SGBL

An al-Akhbar newspaper article titled "the French are withdrawing from Société Générale" contains "totally inaccurate and misleading information thus exposing the newspaper, the author of the article and the editor-in-chief to criminal legal actions," SGBL said in a press release.

"The accounting procedure applied by 'Société Générale (France)' towards constituting a provision regarding its equity participation in the share capital of 'Société Générale de Banque au Liban S.A.L.' consists of a standard procedure which is undertaken in case of a credit rating downgrade of the country where the local bank conducts its business, in accordance with the IFRS international accounting standards. Therefore, and contrary to the false information contained in this article, the aforesaid accounting procedure does not in any way mean that 'Société Générale (France)' is divesting its interest in 'Société Générale de Banque au Liban S.A.L.' and is absolutely not related to the latter’s financial situation," the press release said.

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