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Global markets on tenterhooks awaiting China data

Global stock markets will be on edge this coming week as China announces a slew of data investors will comb for clues about slowing growth in the world's second-largest economy.

The government is scheduled to release monthly trade and inflation figures, as well as industrial output, fixed-asset investment and retail sales in the coming days.

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G20 Charts Careful Course in Turbulent Economic Waters

Warily watching economic clouds gathering in China and the possibility of an end to zero interest rates in the United States, G20 leaders steered a careful course at their meeting in Turkey at a time of uneven and fragile growth.

The two-day gathering in the Turkish capital Ankara came less then a month after China shocked financial markets with a surprise devaluation of its currency, triggering global jitters about declining growth and slumping stocks in the world's second-largest economy.

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G20 Vows to Boost Fragile Growth, Nudges China on Currency

G20 finance ministers and central bank chiefs on Saturday pledged to act decisively to shore up stuttering global growth and to refrain from unsettling currency moves after China's controversial devaluation last month.

The economic supremos from the world's top 20 economies said in a communique after their two-day meeting in the Turkish capital Ankara that global growth was falling short of expectations, despite strengthening activity in some economies.

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Japan, Iran to Start Investment Talks Next Week

Japan and Iran will start talks next week to negotiate a bilateral investment treaty, as Washington moves to ease sanctions against Tehran and Tokyo looks to step up its interests in the resource rich nation.

Japanese and Iranian officials will meet in Tehran from Monday through to Wednesday to secure a deal, Chief Cabinet Secretary Yoshihide Suga said Friday, as other energy consumers also rush to explore Tehran's commercial potential.

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S&P Rates Iraq for First Time

American financial service company Standard & Poor's issued war-torn Iraq a credit rating for the first time Thursday, with the country's conflict with Islamic State militants and low oil prices giving it a junk score.

Iraq has been plagued by war and violence since the 2003 U.S invasion that toppled Saddam Hussein. Currently violent jihadists have taken over large parts of the country, something Standard & Poor's took into account when it handed out its B- rating.

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BASF, Gazprom Go ahead with Asset Swap after All

German chemicals giant BASF said Friday it has agreed with Russian gas behemoth Gazprom to go ahead with an asset swap which the two had abandoned due to tensions between Russia and the West. 

"Due to the difficult political environment, BASF and Gazprom had decided not to complete the asset swap planned for the end of the 2014," the German group explained in a statement.

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Brazil Denies Economy Minister Departure Rumors

Brazil's government denied rumors Thursday that the country's finance minister was about to step down, which come as the world's seventh-biggest economy struggles with a steep slowdown.

President Dilma Rousseff's chief of staff shot down the rumors after local press reports suggested Finance Minister Joaquim Levy could quit due to a lack of support.

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Oil Prices Retreat as Dealers Eye U.S. Data

Oil prices edged lower in cautious Asian  trade Friday as investors await the release of a U.S. jobs report for August that could determine the Federal Reserve's timetable for hiking interest rates. 

U.S. benchmark West Texas Intermediate for October delivery fell 17 cents to $46.58 while Brent crude for October eased 16 cents to $50.52 in late-morning trade.

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Ambassador: Indonesia Dumps Plans for High-Speed Rail Line

Indonesia has unexpectedly dumped much-vaunted plans for its first high-speed railway in favour of a slower and cheaper rail option, in a blow to Japan and China who have been fiercely competing to win the construction job.

President Joko Widodo was expected to announce the winning bid for the multi-billion dollar infrastructure project this week, but instead his chief economics minister, Darmin Nasution, told the Japanese ambassador Friday that the hotly-contested project had been shelved. 

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Mass Tractor Protest in Paris over Falling Food Prices

More than 1,000 tractors rolled into Paris on Thursday as farmers attempted to clog up the capital's roads in protest at their plummeting incomes.

Tractors were lined up at the busy Nation roundabout in the east of the city, but Parisians heeded calls to avoid using their cars and traffic was less congested than normal during the morning rush hour.

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