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Asia shares sink as global growth worries deepen

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TOKYO (Reuters) – Asian share markets sank on Tuesday as heightened worries about a slowing global economy sent Wall Street stocks skidding to their lowest levels in more than a year. FILE PHOTO: A man looks at an electronic stock quotation board outside a brokerage in Tokyo, Japan, November 13, 2018. REUTERS/Toru Hanai MSCI’s broadest Read More

EU’s ‘toothless’ response to creation of Kosovo army risks worsening the crisis – Moscow

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The creation of Kosovo’s own 5,000-strong army is a threat to peace and security in a turbulent region and may lead to a new escalation, Russia’s UN envoy has warned, calling the EU’s lackluster response irresponsible. Speaking at the UN Security Council emergency meeting on Kosovo, Russia’s ambassador to the UN Vassily Nebenzia said that Read More

South Korea to provide $3 billion in financial support for troubled auto suppliers

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SEOUL (Reuters) – South Korea unveiled a policy package to support its embattled car parts makers industry that includes providing financial support worth over 3.5 trillion won ($3.10 billion) and encouraging the use of electric cars. A worker checks cars made by GM Korea in a yard of GM Korea’s Bupyeong plant before they are Read More

Brit arrested over cannabis oil in Bali could face death penalty

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A British man arrested in Bali for allegedly smuggling cannabis oil has admitted he has been “very stupid” as he could face the death penalty. Pip Holmes, understood to be a 45-year-old artist from Cornwall, was one of five foreigners paraded at a news conference in Denpasar, the capital of Bali province last week. The Read More

Petrofac secures contract with Petroleum Development Oman

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12/17/2018 Photo: Petrofac employees. ST. HELIER, Jersey — Petrofac has been awarded a contract worth around $115 million for the development of the Qarn Alam Co-Generation Project, located 350 km southwest of Muscat, Oman. This is the latest in a series of awards for Petrofac in Oman and the second to be secured under a Read More

Oil closes below $50 for first time in one year as glut fears grow

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By Alex Nussbaum on 12/17/2018 Photo: OPEC flag. NEW YORK (Bloomberg) — OPEC has its work cut out to persuade the market that its output caps will stabilize oil prices — and U.S. producers aren’t helping. Crude settled below $50/bbl in New York on Monday for the first time in more than a year and Read More

S&P 500 hits 14-month low on economic jitters ahead of Fed meeting

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NEW YORK (Reuters) – Wall Street’s major indexes all slid more than 2 percent on Monday, with the benchmark S&P 500 closing at its lowest level in 14 months, on concerns of slowing economic growth ahead of a highly-anticipated decision from the Federal Reserve this week on the course of interest-rate hikes. Traders work on Read More

More US weapons to Ukraine will only make conflict worse – Russian lawmakers

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Additional and “ongoing” US weapons deliveries to Kiev would escalate tensions and undermine efforts for peace in Ukraine, Russian officials said after US special envoy Kurt Volker announced such plans, along with more sanctions. “Moving through Congress is a military financing package of around $250 million and the ability to sell additional equipment,” Volker told Read More

World witnessing ‘unprecedented tensions’ & collapsed treaties but no threat of a major war – Lavrov

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Collapsed international accords only lead to poor relations between countries, Russian Foreign Minister Sergey Lavrov has stated, while still admitting that a major conflict is unlikely to happen. “Unprecedented tensions are being escalated. We see international treaties collapse,” Lavrov told Komsomolskaya Pravda newspaper in an interview released on Monday. The minister recalled that back in Read More

Goldman, Morgan Stanley gain clout in Brazil as NY IPOs grow

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SAO PAULO (Reuters) – Goldman Sachs Group Inc (GS.N), Morgan Stanley(MS.N) and Bank of America Merrill Lynch(BAC.N) are regaining clout in Latin America’s largest economy as Brazilian companies opt to list shares in New York instead of on their local exchanges, Refinitiv data shows. A sign is displayed on the Morgan Stanley building in New Read More