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Israel halts $6m to UN to protest UNSC settlements vote


Israel says it is cutting a substantial amount in its annual dues to the United Nations this year in protest of last month’s Security Council resolution condemning Israeli settlement activity on occupied Palestinian territories. The announcement made by Israel’s UN Mission on Friday stipulated that $6 million out of more than a regular $40 million allocated to “anti-Israel bodies” will ...

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Middle East: UAE to invest $163bn in renewable-energy projects


The United Arab Emirates has announced plans to invest $163bn in projects in a bid to generate almost half the country’s power needs from renewable sources. The UAE is a top oil exporter, but has taken steps to reduce its dependency on fossil fuels to generate power, including building nuclear facilities. “Our aim is to balance our economic needs with ...

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Oil prices fall as Iran’s exports surge, U.S. adds more rigs

Rigging equipment is pictured in a field outside of Sweetwater, Texas June 4, 2015.  REUTERS/Cooper Neill

Oil prices fell on Monday as increased exports from Iran undermined efforts by other oil producers to curb a global fuel supply overhang and as U.S. drillers increased activity for a 10th straight week. Brent crude futures LCOc1 were trading at $56.70 per barrel at 0745 GMT (2.45 a.m. ET), down 40 cents, or 0.7 percent, from their previous close. ...

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McDonald’s sells most of China, HK business to CITIC, Carlyle for $2.1 billion

A woman walks past a McDonald's outlet in Hong Kong in this July 25, 2014 file photo.  REUTERS/Tyrone Siu/Files Photo

McDonald’s Corp (MCD.N) has agreed to sell the bulk of its China and Hong Kong business to state-backed conglomerate CITIC Ltd (0267.HK) and Carlyle Group LP (CG.O) for up to $2.1 billion, seeking to expand rapidly without using much of its own capital. The 20-year deal caps months of negotiations between the fast-food chain, private equity firms including Carlyle and ...

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IMF chief Christine Lagarde convicted over payout


A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment. As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm. Lagarde, who always denied wrongdoing, was not present in court, having left France for ...

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Oil prices rise in anticipation of tighter 2017 market

An employee at a Total fuel station waits for customers in south Jakarta

Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0756 GMT, up 20 cents from their last close. U.S. West Texas Intermediate (WTI) crude ...

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Exclusive: Brazil prosecutor investigates funds’ investment in Trump Hotel Rio

Republican presidential nominee Donald Trump attends a campaign roundtable with small business leaders in Altoona, Wisconsin, U.S. November 1, 2016.   REUTERS/Carlo Allegri

A Brazilian prosecutor has opened a criminal investigation into investments made by two state pension funds in a luxury Rio de Janeiro hotel that is part of the Trump franchise, according to a court filing reviewed by Reuters on Tuesday. The 130 million reais ($40 million) investment by the two small funds in the hotel’s developer “required investigation” due to ...

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Oil prices rise from one-month lows after OPEC approves strategy

A view of an oil refinery off the coast of Singapore, March 14, 2008. REUTERS/Vivek Prakash/File Photo

Oil prices rose from one-month lows in Asian trading on Tuesday after OPEC agreed on a long-term strategy that was seen as an indication the cartel was reaching a consensus on managing production. But further gains are likely to be limited as the market was weighed down by further indications of record output from the group, a sign the glut ...

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Venezuela’s food prices skyrocket as people go hungry


Earlier this year, Venezuelans suffered through acute food shortages. Now food is starting to reappear on more and more supermarket shelves. But the prices are prohibitive for almost everyone. “The prices are really really high…people are just shocked by the price increases,” says Alejandro, a 24-year old who works at a law firm in Maracaibo, Venezuela, near the border of ...

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Samsung ‘blocks’ exploding Note 7 parody videos


Samsung appears to have filed copyright claims against YouTube videos mocking its recalled Galaxy Note 7 handset. Many gamers have showcased a modification to video game Grand Theft Auto V, in which sticky bombs were switched with exploding Samsung phones. But some have reported that their videos have been blocked on YouTube following a copyright complaint. Samsung has not yet ...

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