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Crude oil prices face weekly decline as glut fears persist

Crude oil drips from a valve at an oil well operated by Venezuela's state oil company PDVSA, in the oil rich Orinoco belt, near Morichal at the state of Monagas April 16, 2015. REUTERS/Carlos Garcia Rawlins/File Photo

Crude futures were on track for weekly losses on Friday as investors reassessed U.S. data on oil stocks and excesses in oil products in Europe and Asia. While many expect global oversupply of oil to ease in the near term, huge amounts of crude remain in vessels at sea and storage tanks on land as the rebalancing takes longer than ...

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Japan business lobby says Abe government can’t rely on nuclear energy

Police officers and security personnel stand guard at an entrance of Kyushu Electric Power's Sendai nuclear power station, during a protest demanding for the stop of the plant's restart, in Satsumasendai, Kagoshima prefecture, Japan August 9, 2015.  REUTERS/Issei Kato/File Photo

Japan’s use of nuclear power is unlikely to meet a government target of returning to near pre-Fukushima levels and the world’s No.3 economy needs to get serious about boosting renewables, a senior executive at a top business lobby said. Under Prime Minister Shinzo Abe’s energy policies, nuclear is supposed to supply a fifth of energy generation by 2030, but Teruo ...

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Asia:Japan stocks rise on $186bn stimulus bets


Japanese stocks have risen on bets the government will unveil a stimulus package that could be double the size initially expected. Prime Minister Shinzo Abe is looking to compile a package of at least 20 trillion yen ($186bn; £141bn) according to the Kyodo News agency. The world’s third-largest economy is still trying to emerge from deflation. Both the benchmark Nikkei ...

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Asia:Singapore seizes assets, to take action against major banks in 1MDB probe


Singapore widened a crackdown on alleged money laundering in a probe tied to scandal-hit Malaysian state fund 1MDB, seizing assets and announcing it will take action against some of the biggest banks based in the city-state Singapore authorities said in a statement on Thursday that they had seized S$240 million ($177 million) of assets in an investigation of 1MDB-related fund ...

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Asian shares at nine-month highs as oil prices, Fed hike views strengthen

A businessman is reflected in an electronic board displaying Japan's Nikkei share average outside a brokerage in Tokyo, Japan, April 18, 2016. REUTERS/Toru Hanai

Asian stocks climbed to nine-month highs on Thursday, helped by a recovery in global oil prices, while the dollar strengthened against the safe-haven yen on resurgent expectations of a U.S. interest rate hike this year. European shares are expected to buck the trend and open lower before a European Central Bank meeting later in the day at which the ECB ...

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Asia:Profit taking weighs on stocks, dollar holds gains

A man walks past a screen displaying the Nikkei average outside a brokerage in Tokyo, Japan, June 24, 2016. REUTERS/Thomas Peter

Profit taking weighed on Asian stocks on Wednesday after a record run on Wall Street showed signs of petering out, while the dollar hovered near a four-month high against a basket of currencies following upbeat U.S. data. Investors’ risk appetite, which has recovered rapidly from the Brexit shock late in June, received a sobering reminder after the International Monetary Fund ...

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Asia:Nintendo stock loses ground on report of Pokemon GO delay for Japan

A woman using a mobile phone walks past a shop selling Pokemon goods in Tokyo, Japan July 20, 2016. REUTERS/Toru Hanai

Nintendo Co’s (7974.T) shares on Wednesday gave up some of their meteoric gains made on the record-breaking success of its Pokemon GO mobile game, hurt in part by a reported delay for the game’s introduction in Japan. Technology news site TechCrunch said that game developer Niantic Inc had planned to launch Pokemon GO in Japan on Wednesday but had canceled ...

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China’s sluggish economy continues to drag


China will add to the growing gloom hanging over the world economy when it posts its weakest growth in seven years on Friday. The world’s second-largest economy is expected to have expanded by 6.6% in the three months to the end of June, compared with the same period a year earlier, according to a CNNMoney survey of economists. That is ...

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Asia stocks hit four-week high, look forward to stimulus

Passersby walk past in front of electronic boards showing Japan's Nikkei share average (L), the Japanese yen's exchange rate against the U.S. dollar (C), British pound (R) and Euro (2nd R) outside a brokerage in Tokyo, Japan, July 6, 2016. REUTERS/Issei Kato

Asian shares enjoyed a relief rally on Monday as upbeat U.S. jobs data soothed immediate concerns about the health of the world’s largest economy, while the prospect of more policy stimulus helped keep sovereign yields near record lows. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS jumped 1.9 percent to a one-month top. Australia added 1.8 percent and Shanghai ...

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Iran:Oil price stable as Iran boosts crude exports


Oil markets will remain stable this year even as Iran plans to keep boosting crude exports to regain the market share it lost due to sanctions, according to a senior official at state-run National Iranian Oil Company. Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country ...

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