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Etihad Chief Blasts Qantas Tactics

Etihad Airways chief James Hogan on Friday pledged the Abu Dhabi-based carrier will never seek control of Virgin Australia and hit out at Qantas's tactics to undermine his airline.

Etihad has built its holding in Virgin over recent months to 4.9 percent and on Thursday won approval from the Australian Foreign Investment Review Board to boost the stake to 10 percent.

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Renault-Nissan to Invest $160 Million in Korea Unit

Renault-Nissan Alliance will invest $160 million to roll out Nissan models at its South Korean unit, the French automaking group said Friday.

Renault-Samsung Motors in the southern port of Busan will produce an annual 80,000 units of Nissan's crossover Rogue, beginning in 2014, Renault-Nissan said in a statement.

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Royal Jordanian Suspends Flights to Damascus, Aleppo

National carrier Royal Jordanian (RJ) said on Thursday it has suspended flights to the Syrian capital Damascus and the northern city of Aleppo over the unrest in the neighboring country.

"Flights to Damascus and Aleppo have been suspended because of a sharp slump in passenger traffic following developments in Syria in the past two days," state-run Petra news agency quoted RJ as saying.

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Kuwait Top Bank's Q2 Profit Slides 39.5%

National Bank of Kuwait, the emirate's largest lender, on Thursday reported a 39.5 percent slide in second quarter net profit as the bank took huge provisions, a statement said.

NBK's profit in the first half of the current year also dropped 17.7 percent as the bank cited "a challenging operating environment and weakening outlook."

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eBay Quarterly Profit More Than Doubles

Online auction house eBay on Wednesday reported that its profit in the recently-ended quarter more than doubled due to strong showings by its Marketplaces and PayPal services.

The California-based company said it had a net income of $692 million on revenue that rose 23 percent to $3.4 billion in the quarter that ended June 30.

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Four Banking Giants under Spotlight in Libor Scandal

Regulators are investigating Credit Agricole, HSBC, Deutsche Bank and Societe Generale over the Libor manipulation scandal that claimed the boss of British bank Barclays, the Financial Times reported Thursday.

Citing sources close to the probes, the FT said regulators were examining evidence of links between traders at all four banks and Barclays' former trader Philippe Moryoussef.

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China Doubles Loans to Africa to $20 Billion

President Hu Jintao said Thursday China would offer $20 billion in new loans to Africa, as he delivered a speech to a Beijing forum on co-operation with the resource-rich continent.

The pledge -- double the amount Beijing agreed to lend to Africa at the last forum in 2009 -- underscores China's growing links with African nations as it looks to secure key commodities to feed its economic growth.

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WikiLeaks Claims New Funding Channel in France

WikiLeaks is opening a new front in its battle to break the financial blockade imposed by credit card giants Visa and MasterCard, the group said Wednesday, saying it could now accept donations through a French non-profit.

Visa and MasterCard were among half a dozen U.S. payment firms to pull the plug on WikiLeaks once it made its controversial decision to begin publishing some 250,000 secret State Department cables in December 2010.

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Adidas Closes Last Company-Owned Factory in China

German sportswear giant Adidas said Wednesday it was closing its only company-owned factory in China, although the country would continue to be its "main global production site" via subcontractors.

A spokeswoman confirmed that the site in Suzhou, near Shanghai, which employs 160 people, would close at the end of October for "efficiency" reasons.

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HSBC Shares Dive in Hong Kong after Apology

Shares in global banking giant HSBC fell more than two percent in Hong Kong on Wednesday after a top executive resigned over the lender's failure to control money laundering and terrorist financing.

London-based HSBC apologized Tuesday for failing to apply anti-laundering rules as U.S. lawmakers accused it of giving Iran, terrorists and drug dealers access to the U.S. financial system.

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