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Draft Statement: G20 Commits to Ensuring IMF has Adequate Resources

G20 nations are committed to ensuring the International Monetary Fund has adequate resources to deal with the debt crisis, a draft statement from finance chiefs meeting in Paris said Saturday.

The G20 bloc of leading economies will hold further talks on the subject during a summit in the French city of Cannes on November 3 and 4, sources close to the negotiations told Agence France Presse.

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India's Tata to Launch Nano Car in Bangladesh

India's Tata Nano, billed as the world's cheapest car, will go on sale in Bangladesh on Saturday -- but with a price tag nearly triple what it is at home.

The least expensive no-frills Nano will cost 599,000 taka ($7,900), said Abdul Matlub Ahmad, director of Nitol Motors -- Tata's sole distributor in Bangladesh.

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Libya to Investigate 'Every Penny' in Oil Graft Probe

Libya's new government vowed on Thursday to investigate "every penny" of suspicious oil contracts signed under the former regime, responsible for what it described as "unbelievable" corruption.

"Any corruption under the previous regime will be investigated... There will be specialized committees that will look into all these contracts and agreements starting with the oil sector," the National Transitional Council's oil and finance minister, Ali Tarhuni, told a news conference in Tripoli.

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Wall Street Protests Draw Overseas Attention

The Occupy Wall Street movement, which has spawned grass-roots activities around the U.S. and prompted comments from President Barack Obama, is now drawing political remarks from overseas.

Iran's top leader said Wednesday that the wave of protests reflects a serious problem that will ultimately topple capitalism in America.Ayatollah Ali Khamenei claimed the United States is in a full-blown crisis because its "corrupt foundation has been exposed to the American people."

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IMF Sees 'Downside' Risks to Asia from Euro Crisis

The IMF lowered its forecasts for Asian growth and warned in a report Thursday that the region faces downside risks due to worries over the Eurozone debt crisis and a slowdown in the United States.

In its twice-yearly Asia and Pacific Regional Economic Outlook, the International Monetary Fund warned that risks for the region are "decidedly tilted to the downside."

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Obama Set to Sign Long-Stalled Trade Deals

The U.S. Congress has approved long-stalled free trade agreements with Colombia, Panama and South Korea that President Barack Obama trumpeted as engines of growth and job-creation.

The accords will "significantly boost exports that bear the proud label 'Made in America,' support tens of thousands of good-paying American jobs and protect labor rights, the environment and intellectual property," Obama cheered after the pacts were approved on Wednesday.

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Police in Boston Arrest 129 in Protest Crackdown

Police in Boston arrested 129 protesters Tuesday, a police spokesman said, in one of the biggest crackdowns so far on the Occupy Wall Street movement sweeping the United States.

Boston Police Department spokesman Eddy Chrispin said "a majority" had been arrested for unlawful assembly when police converged on the crowd in the early hours of the morning.

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UAE Projects Small 2012 Budget Deficit

The United Arab Emirates announced on Tuesday a 2012 federal budget showing a small deficit, increased revenues and only minor adjustments in expenditures.

Spending levels are projected at 41.8 billion dirhams ($11.4 billion) while revenue is estimated at 41.4 billion dirhams ($11.3 billion), leaving a deficit of just over $100 million, according to the official WAM news agency.

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World Bank Revises Downward Lebanon Growth to 4%

The World Bank has revised economic growth in Lebanon downward to four percent from a January forecast of seven percent for 2011 and forecast a fiscal deficit of 5.5 percent of GDP.

The projected growth rate still makes Lebanon the seventh fastest growing economy in the Middle East and North Africa, which is expected to reach 4.1 percent growth in 2011, according to a World Bank report published by Lebanon's Byblos Bank this week.

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Emirates NBD Takes over Troubled Dubai Bank

Emirates NBD Bank, the largest lender in the United Arab Emirates, has taken over the troubled Islamic lender Dubai Bank on orders of the ruler of Dubai, a government statement said on Tuesday.

"Sheikh Mohammad bin Rashed al-Maktoum, Vice President and Prime Minister of the UAE, in his capacity as the ruler of Dubai, has given orders that Emirates NBD take over Dubai Bank," the statement said.

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