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Oil Prices Down ahead of U.S. Energy Report

Oil prices eased in Asia Thursday as dealers focused on an upcoming U.S. energy report for clues about production and demand in the world's top crude consumer amid abundant global supplies.

U.S. benchmark West Texas Intermediate for October delivery fell 65 cents to $43.50 while Brent crude for October dropped 76 cents to $46.82 in late-morning trade.

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Study: Forget Social Media, Friends and Family Drive Purchases

Although many companies are pouring money into social media to market their goods, the recommendations of friends and family remain the top driver of purchasing decisions, a study released Thursday found.

"Direct word-of-mouth recommendations from friends and family are by far the most important source of information for customers thinking about buying a product or service," said a study by Boston Consulting Group.

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China Tightens Capital Controls after Devaluation

China is tightening capital controls following a devaluation of its yuan currency, the Financial Times reported, as worries about fund outflows rise.

The State Administration of Foreign Exchange had ordered financial institutions to increase checks and boost controls on foreign exchange transactions, especially over-invoicing of exports which is used to hide capital outflows, the newspaper on Wednesday quoted unnamed sources and an internal memo as saying.

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Microsoft Buys Cloud Computing Security Startup

Microsoft said Tuesday it bought an Israel-based cybersecurity startup specializing in defending programs and content in the cloud, as it expands offerings for the enterprise.

Microsoft did not disclose how much it paid for Adallom, but the website TechCrunch put the purchase price at $250 million.

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Ryanair Hikes Annual Profit Forecast by a Quarter

Irish no-frills airline Ryanair on Wednesday ramped up its full-year net profit forecast by a quarter on keen demand for summer holidays at higher prices.

Earnings after taxation will climb to between 1.175 billion euros and 1.225 billion euros ($1.8 billion and $1.88 billion) in the current financial year to March 2016, Ryanair predicted in a trading statement.

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Greece to Look at Recapitalising Banks after Election

Greece will set up a working group with officials from its "troika" of creditors to look at ways of supporting its fragile banking system after this month's election, the economy ministry said Tuesday.

Greeks will go to the polls for their fifth time in six years on September 20, as the government seeks a fresh mandate to implement reforms demanded under the new 86-billion-euro ($96-billion) international bailout.

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Eurostat: Eurozone Growth Revised up to 0.4% in Second Quarter

The 19-nation eurozone grew by 0.4 percent in the second quarter, official data showed on Tuesday, revising upward a first estimate that sparked worries about the health of the European economy.

Last month, the EU's Eurostat agency said the eurozone grew by just 0.3 percent in the April to June period.

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China to Suspend all Trading when Stock Markets Volatile

China plans to halt all trading on its stock markets if they move five percent or more, according to a statement from the country's two exchanges, as authorities seek to control a rout.

If the CSI 300 index of 300 major listed companies rises or falls five percent, authorities will suspend trading on both the Shanghai and Shenzhen exchanges for 30 minutes, the bourses' statement said.

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Saving Accounts in Lebanon: Wasted Opportunities or Recourse on Rainy Days?

With the Christmas holidays almost just around the corner, we’re all starting to count our hard earned money.

“Do I have enough money to splash out on presents for everyone?” is a question we’ll be asking ourselves very soon, if we haven’t asked it already. Are you finding yourself a bit strapped for cash this year? Then consider looking into a savings account at a Lebanese bank at least you will be saving yourself for next year.

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Finnish Central Bank Chief Donates Month's Salary for Refugees

The governor of the Bank of Finland Erkki Liikanen has promised to donate a month's salary to help asylum-seekers.

"I have decided to participate in a fund-raising by the Finnish Red Cross with a sum that corresponds to my monthly net salary. That is 10,000 euros ($11,200). I know the funds will get across to those who are suffering the most," Liikanen wrote on his personal Facebook account on Sunday.

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