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UPDATE 1-Egypt current ac deficit shrinks in fiscal year to March
Wed Jun 19, 2013 6:15am EDT CAIRO, June 19 (Reuters) - Egypt's current account deficit narrowed in July-March, supported by stronger tourism revenues and a shrinking trade deficit, data showed on Wednesday. The current account deficit shrank in the nine months to end-March to $3.9 billion compared to $7.1 billion in the nine months to March 2012, the central bank said in a ...
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PH stock index dips as markets wait for US Federal Reserve meeting on bond-buying
Screengrab from http://www.pse.com.ph MANILA, Philippines -- The local stock barometer dipped on Wednesday after a three-day rebound as regional markets awaited clues on US monetary policy from an ongoing US Federal Reserve meeting. The main-share Philippine Stock Exchange index shed 5.57 points or 0.09 percent to close at 6,513.20. Mining/oil and property counters saw the steepest drop for ...
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Statoil finds oil offshore Canada near previous find
OSLO, June 19 | Wed Jun 19, 2013 6:09am EDT OSLO, June 19 (Reuters) - Norwegian oil and gas firm Statoil discovered light, high-quality oil offshore Newfoundland, about 500 kilometres north-east of St. John's in Labrador, Canada, it said on Wednesday. "While it is still too early to determine Harpoon's resource potential at this time, this is very encouraging for the area ...
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Australias Intrepid faces tough fight over Indonesia mine
By Sonali Paul and Fergus Jensen MELBOURNE/JAKARTA, June 19 | Wed Jun 19, 2013 6:07am EDT MELBOURNE/JAKARTA, June 19 (Reuters) - Australia's Intrepid Mines Ltd is learning that business in Indonesia is personal as it wages a difficult fight to win back rights to a $5 billion copper and gold prospect in East Java. Intrepid was booted off the site last year by its Indonesian partner ...
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EMERGING MARKETS-Stocks broadly weaker before Fed decision rand firms
LONDON, June 19 | Wed Jun 19, 2013 5:53am EDT LONDON, June 19 (Reuters) - The rand firmed to five-day highs on Wednesday after better-than-expected South African current account data but most other emerging assets were broadly weaker as investors awaited clarity on the U.S. Fed's next policy step. Markets are hoping the Federal Reserve will sweep away ambiguity over plans to wind ...
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AIRSHOW-UPDATE 1-Airbus wins A350 order from Air France-KLM
Wed Jun 19, 2013 5:49am EDT * Order worth $7.2 bln at list prices * Airline also takes 25 options * Rolls-Royce to supply engines in $1.1 bln deal PARIS, June 19 (Reuters) - Airbus sealed a long-awaited order for 25 A350-900 aircraft from Air France-KLM worth $7.2 billion at list prices after Rolls-Royce and the airline reached a deal over engine maintenance. The airline also took a further 25 ...
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UPDATE 1-Turkish lira firms after central bank skips repo auction
Wed Jun 19, 2013 5:42am EDT * Central bank fixed-rate repo auction not opened * Shares higher, bonds weaker ISTANBUL, June 19 (Reuters) - The Turkish lira firmed on Wednesday after the central bank skipped a repo auction to combat currency pressure brought on by concerns about domestic unrest and uncertainty over the U.S. asset purchase programme. Turkish assets have been volatile since the end ...
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Swiss upper house keeps U.S. tax deal alive set for lower house
ZURICH (Reuters) - Swiss upper house lawmakers kept alive a draft law aimed at ending a long-running U.S. tax probe into hidden offshore accounts at Swiss banks on Wednesday, leaving the final say with the lower house, which has previously rejected it.Lawmakers are deeply divided on a bill aimed at allowing banks to sidestep strict Swiss secrecy laws by disclosing their U.S. dealings to ...
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AIRSHOW-Ryanair finalises $15.6 bln order for Boeing 737-800s
PARIS, June 19 | Wed Jun 19, 2013 5:40am EDT PARIS, June 19 (Reuters) - Ryanair finalised an order for 175 Boeing 737-800 aircraft worth around $15.6 billion at list prices at the Paris Airshow on Wednesday. The Irish budget airline made a provisional order in March for the ...
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GLOBAL MARKETS- Shares choppy dollar steady as Fed meets
* European shares dip in jittery trade before Fed statement * Dollar steadies against major currencies, weaker vs yen * Oil holds around $106 a barrel, gold flat * German Bunds firm as debt auction eyed By Richard Hubbard LONDON, June 19 (Reuters) - European shares turned lower but major currencies and commodities stuck within recent ranges on Wednesday as investors awaited clarity on the U.S. ...
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Stocks to Watch FedEx Micron are Wednesday’s stocks to watch
SAN FRANCISCO (MarketWatch) -- Among the shares expected to see active trade in Wednesday's session are those of FedEx Corp., Micron Technology Inc. and Red Hat ...
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American Airlines US Airways seek EU approval for merger
BRUSSELS (Reuters) - US Airways Group (LCC.N) and American Airlines (AAMRQ.PK) are seeking EU antitrust approval for their planned $11 billion merger, which would create the world's largest carrier. The proposed tie-up, the fourth in the U.S. ...
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Indonesia April retail sales growth picks up to 9.7 pct yy
JAKARTA, June 19 | Wed Jun 19, 2013 5:10am EDT JAKARTA, June 19 (Reuters) - Indonesia's retail sales in April rose 9.7 percent from a year earlier, bolstered by information and communication equipment, a Bank Indonesia survey showed on Wednesday. The growth rate accelerated from a revised 9.3 percent the previous month. But sales fell on a monthly basis due to a contraction in food, ...
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FOREX-Dollar broadly steady as markets seek Fed policy clarity
* Market awaits signals on Fed's next policy step * Fed expected to keep options open on pace of QE * Dollar index steady, holds above 4-month low By Anooja Debnath LONDON, June 19 (Reuters) - The dollar was broadly steady in subdued trading on Wednesday as markets awaited the outcome of the Federal Reserve's rate-setting meeting for clues on the future course of U.S. monetary ...
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UPDATE 1-Finlands economy set to shrink as exporters struggle
Wed Jun 19, 2013 5:01am EDT By Ritsuko Ando and Jussi Rosendahl HELSINKI, June 19 (Reuters) - Finland on Wednesday slashed the outlook for its economy, predicting it will shrink for the year, raising doubts about its reputation as one of the euro zone's healthiest economies. The forecast added to concerns that traditional industries such as paper were losing global competitiveness. The ...
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German cartel court takes on Porsche lawsuit -source
BERLIN, June 19 | Wed Jun 19, 2013 4:57am EDT BERLIN, June 19 (Reuters) - A German court has assigned an investor lawsuit seeking about 2 billion euros ($2.7 billion) in damages from Porsche SE to a court specialising on cartel matters, a person familiar with the matter told Reuters. The regional court in Braunschweig, Germany, will delegate the case, brought by U.S. investment funds, ...
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UPDATE 1-Fairfax to raise stake in Greek Eurobank Properties
Wed Jun 19, 2013 4:55am EDT ATHENS, June 19 (Reuters) - Canadian investment firm Fairfax Financial Holdings will raise its stake in Greek real estate firm Eurobank Properties to 42 percent from 19, parent Eurobank said on Wednesday. Fairfax and Eurobank aim to strengthen their relationship as shareholders of Eurobank Properties and boost its resources to make it a leading player in the ...
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AIRSHOW-Pratt wins deal to power 100 Embraer E-Jets for ILFC
PARIS, June 19 | Wed Jun 19, 2013 4:55am EDT PARIS, June 19 (Reuters) - Pratt & Whitney said it will provide engines for up to 100 Embraer E-Jets on order from International Lease Finance Corp. The agreement represents up to 200 PurePower PW1900G engines with deliveries scheduled to begin in 2018, Pratt said at the Paris Airshow on ...
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UPDATE 2-GM revs up plans for Cadillac in China luxury market
Wed Jun 19, 2013 4:49am EDT * GM plans to beef up retail network for Cadillac cars * Cadillac stores to total 200 by end of 2013 * GM breaks ground for a Cadillac plant in Shanghai SHANGHAI, June 19 (Reuters) - General Motors Co's strategy to make its 110-year-old Cadillac brand one of China's top-selling luxury rides went up a gear on Wednesday as the U.S. automaker unveiled plans to ...
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AIRSHOW-New Eurofighter chief aims to make jet cheaper
PARIS, June 19 | Wed Jun 19, 2013 4:46am EDT PARIS, June 19 (Reuters) - The new chief of the Eurofighter Typhoon will lay out plans by the end of this year to make the fighter jet cheaper and decision-making quicker, as the aircraft gears up to vie for more business in an increasingly crowded and competitive market. Alberto Gutierrez, the former head of operations at EADS unit Airbus ...
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UPDATE 2-New CEO begins Alcatel make-over
Wed Jun 19, 2013 4:24am EDT * Combes is third CEO to try and right company's keel * Plans 1 bln euro cost cuts, 1 bln euro asset sales * New focus on IP networking and high-speed broadband * Shares jump 7 pct in early trade By Leila Abboud PARIS, June 19 (Reuters) - Telecom equipment maker Alcatel-Lucent plans to focus on networking products and high-speed broadband and will slim down with a ...
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AIRSHOW-Boeing says 737 MAX to enter service in Q3 2017
PARIS, June 19 | Wed Jun 19, 2013 4:21am EDT PARIS, June 19 (Reuters) - Boeing's upgraded and re-engined version of its 737 aircraft will come into service in the third quarter of 2017, around six months earlier than scheduled, a company executive said at the Paris Airshow. This helps the 737 MAX close the gap with its main rival - the upgraded Airbus 320neo due to enter service in ...
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Currencies with Bert Antonik
Having recently taught classes in Hong King, Singapore and Jakarta, Bert shares some of his thoughts on the current market action. Bert and Merlin take a look at several currency pairs including the Euro, Yen, and Aussie dollar. All of these currencies are approaching very interesting supply and demand zones. Watch Bert and Merlin map them out and give you some potential trading ideas! Click on ...
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European shares down in jittery pre-Fed trade
Wed Jun 19, 2013 4:08am EDT * FTSEurofirst 300 down 0.5 pct in jittery trade * No change expected from Fed at this meeting * Nokia leads gainers, Nordea heads losers By Toni Vorobyova LONDON, June 19 (Reuters) - European shares were down by mid-morning on Wednesday in what was set to be light and volatile session as investors look to the U.S. Federal Reserve for clues on the duration of its ...
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UPDATE 3-Softbank closer to acquiring Sprint after Dish abandons bid for now
Wed Jun 19, 2013 4:05am EDT * Sprint shareholders meeting to determine whether SoftBank offer passes * Dish cites new hurdles in latest Sprint/SoftBank pact for decision * SoftBank shares rise, Sprint shares dip in late trade By Sophie Knight and Sinead Carew TOKYO/NEW YORK, June 19 (Reuters) - Japan's SoftBank Corp cleared a major hurdle in its attempt to buy U.S. wireless provider Sprint ...
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