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Archive for May 6th, 2008IMF moves toward gold salesPosted by UK Economy News
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6May 08 The International Monetary Fund board of governors Tuesday approved a new program that calls for the sale of 403.3 tonnes of IMF gold reserves as part of a wide-ranging financial overhaul.
Read full story Tesco to invest in Korea logistics centrePosted by UK Economy News
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6May 08 Tesco will invest $100 million (50.6 million pounds) to set up a logistics centre in South Korea, the country's economy ministry said on Wednesday.
Read full story Comments Off Most commodities get ride from $120 oilPosted by UK Economy News
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6May 08 Oil at $120 a barrel is helping create new peaks in non-energy commodities other than gold, just as some investors were expecting a sector-wide correction from a stronger dollar.
Read full story Comments Off Sprint and Clearwire to announce venturePosted by UK Economy News
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6May 08 Sprint Nextel and Clearwire Corp are close to announcing a $12 billion (6.08 billion pound) joint venture for ultra-fast wireless Internet access for mobile phones and laptop computers, The Wall Street Journal reported on its Web site on Tuesday.
Read full story Comments Off Nigeria oil rebels pledge truce if Carter mediatesPosted by UK Economy News
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6May 08 Niger Delta rebels promised on Tuesday to halt attacks on the oil industry if the Nigerian government would allow former U.S. President Jimmy Carter to act as a mediator.
Read full story Comments Off Oil records shattered as price spike extendsPosted by UK Economy News
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6May 08 Oil prices spiked to new highs Tuesday in the latest frenzied trade driven by concerns over violence in key producer Nigeria and the weak US currency.
Read full story Comments Off ADB to provide 500 million dollars to combat food crisisPosted by UK Economy News
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6May 08 The Asian Development Bank will provide 500 million dollars (320 million euros) in immediate assistance to member nations hit hardest by soaring food prices, the head of the bank announced Tuesday.
Read full story Comments Off India’s Bharti says no offer yet for MTN but still talkingPosted by UK Economy News
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6May 08 India's top mobile phone Bharti Airtel denied on Tuesday a media report that it had made a 19-billion-dollar offer to take control of South Africa's flagship MTN telecom operator.
Read full story Comments Off Oil shoots past $122 on dollar and supply woesPosted by UK Economy News
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6May 08 Oil shot to a fresh record over $122 a barrel on Tuesday on supply worries and the weak dollar, extending a rally that has doubled prices over the past year and has some experts forecasting a potential spike to $200.
Read full story Comments Off Thomson Financial News journalists to vote on strikePosted by UK Economy News
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6May 08 Britain-based reporters at the Thomson Financial News wire service will vote on whether to strike following the creation of parent group Thomson Reuters, the main journalists' trade union said Tuesday.
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