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Archive for December 26th, 2007Oil prices rise on Turkish air raids, supply concernsPosted by UK Economy News
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26Dec 07 Oil prices rose sharply on Wednesday as speculators' nerves were rattled by Turkish air raids against Kurdish rebel hideouts in northern Iraq and lingering supply concerns.
Read full story Oil jumps 2 pct on expected drop in U.S. stockpilesPosted by UK Economy News
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26Dec 07 Oil rose 2 percent on Wednesday ahead of a U.S. government report expected to show crude inventories in the world's top consumer fell for a sixth straight week.
Read full story Comments Off Anglo-American unit sues Senegal over iron ore contract: lawyerPosted by UK Economy News
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26Dec 07 A South African affiliate of mining giant Anglo-American is suing Senegal for 667 million dollars (460 million euros) for tearing up an iron ore extraction contract, the firm's lawyer said Wednesday.
Read full story Comments Off Iran-Malaysia sign 6 billion dollar gas dealPosted by UK Economy News
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26Dec 07 Iran signed a multi-billion dollar deal with Malaysia on Wednesday to develop two offshore Iranian gas fields, boasting that the planned investment was the biggest ever in the country.
Read full story Comments Off Russian holding approves sale of Rosbank stake: InterfaxPosted by UK Economy News
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26Dec 07 Russian holding KM Invest announced the sale Wednesday of its 40-percent share in Rosbank, which is already set to come under the control of France's Societe Generale, Interfax news agency reported.
Read full story Comments Off Oil hits one-month high above $96 a barrelPosted by UK Economy News
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26Dec 07 Oil rose to a one-month high above $96 a barrel on Wednesday ahead of a U.S. government report expected to show crude inventories in the world's top consumer fell for a sixth straight week.
Read full story Comments Off US housing crisis reverberates around the globePosted by UK Economy News
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26Dec 07 Few people knew at the start of 2007 the meaning of "subprime" real estate loans or how they might affect the US and global economies.
Read full story Comments Off Temasek sees growth potential in Merrill LynchPosted by UK Economy News
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26Dec 07 Singapore's state-linked investment firm Temasek Holdings, which has taken a 4.4-billion-US-dollar stake in troubled Merrill Lynch, said Wednesday it sees strong growth potential in the firm.
Read full story Comments Off Buffett buying majority stake in Marmon industrial groupPosted by UK Economy News
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26Dec 07 US billionaire investor Warren Buffett announced he was buying a 60 percent majority of Marmon Holdings Inc., an industrial group owned by one of America's richest families, for 4.5 billion dollars.
Read full story Comments Off Gazprom opposes foreign ownership of energy reserves: agenciesPosted by UK Economy News
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26Dec 07 A top Gazprom executive voiced opposition on Wednesday to foreign ownership of Russian energy reserves, saying it could deprive Russian consumers of much-needed natural gas, news agencies reported.
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