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China Vows to Help Europe Beat Debt Crisis

Chinese Vice Premier Li Keqiang vowed on Wednesday to help Europe beat its debt crisis, starting a three-nation tour with promises to buy Spanish bonds and sign multi-billion-euro contracts.

Li, widely tipped to be the next premier, delivered a significant vote of confidence given China's world record foreign reserves of 2.648 trillion dollars (2.0 trillion euros), much of it in euros.

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Dollar Rises Against Euro

The dollar rose against the euro on Wednesday as investors grow more optimistic about the US economic recovery and stayed wary about the eurozone debt crisis, analysts said.

In late morning deals, the European single currency fell to 1.3256 dollars from 1.3303 late in New York on Tuesday. The dollar edged up to 82.06 yen from 82.00 yen on Tuesday.

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Dell buying IT Security Firm SecureWorks

U.S. computer giant Dell said Tuesday it has reached an agreement to buy information technology security firm SecureWorks.

Financial details of the transaction were not disclosed.

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Peugeot Citroen Reports High Demand

French car maker PSA Peugeot Citroen said on Tuesday it would temporarily boost production at its Slovak plant in response to high demand.

"The company, currently operating in two shifts, will prolong the second shift by one hour for three weeks, starting January 10," PSA spokesman Peter Svec told Agence France Presse.

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Insurers Sue Toyota

Seven insurance companies have sued Toyota Motor Corp. in an attempt to recover money paid to cover crashes they blame on sudden acceleration.

The insurers cite data that blames 725 crashes on the problem and fault the Japanese automaker for failing to equip its cars with an override system that would cause a car to idle if the brake and gas were deployed simultaneously. They are seeking damages in excess of $230,000 from 14 crashes throughout the United States.

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Lebanese Man Heads International Bank of Qatar in Syria

The International Bank of Qatar (ibq) has chosen Lebanon's Walid Abdel Nour as its director-general in Syria, An Nahar newspaper reported Monday.

It said Abdel Nour was Byblos Bank's director in Syria before accepting his new post. He was chosen among several top Arab and foreign bankers, An Nahar said.

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Central Bank Governor: No Fear over Monetary Stability in 2011

Central Bank governor Riyad Salameh appeased fears over monetary stability in 2011 and said economic growth will be within the limits expected.

"There is no fear this year over the currently balanced monetary stability," Salameh told As Safir newspaper in remarks published Monday.

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Oil Rise Nears $92

Oil prices rose to near $92 a barrel Monday in Asia as traders mulled how high crude can go before it sparks inflation that slows demand and the global economic recovery.

Benchmark oil for February delivery rose 20 cents to $91.58 a barrel late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.54 to settle at $91.38 on Friday.

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Fiat Goes Solo

Fiat has spun off its industrial vehicle business from its auto making unit in a move aimed at giving birth to a global automotive company with Chrysler LLC.

The historic shift was completed with Fiat Industrial's debut Monday on the Milan Stock Exchange. It opened at €9 ($12.03). Fiat Industrial includes CNH agriculture and construction vehicles and Iveco trucks.

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Oil Down in Asian Trade

Oil dropped in afternoon Asian trade Friday after US data showed the country's crude stocks declined less than expected, analysts said.

New York's main contract, light sweet crude for February delivery, dropped 34 cents to 89.50 dollars per barrel in the afternoon.

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