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Cuba plans to lift penalty on dollar, demands embargo end

WASHINGTON / AP Cuba’s government said it plans to do away with a penalty on converting U.S. dollars, but warned the Obama administration not to expect more changes until the U.S. trade embargo is lifted. Three days before President Barack Obama visits the island, Cuban Foreign Minister Bruno Rodriguez dismisses Obama’s lofty rhetoric about using his visit to speak directly ...

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Colombia lifts key rate to curb fastest inflation

Bloomberg Colombia’s central bank raised its benchmark interest rate for a seventh straight month as the inflation outlook continued to worsen and economic growth unexpectedly accelerated. In a split decision, the seven-member board voted to lift the key rate by a quarter point to 6.5 percent, bank Governor Jose Dario Uribe told reporters after the meeting in Bogota. Policy makers ...

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Brazil’s central bank shifts policy after Real’s surge

Bloomberg Brazil is moving closer to unwinding a measure designed to shore up the nation’s currency as speculation President Dilma Rousseff will be impeached sparks a rally in the real. On Friday, the central bank said it will offer up to 20,000 foreign-exchange reverse swap contracts, which are equivalent to buying dollars in the futures market. The auction, which will ...

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Signs are flashing that the ‘greenback’ plunge has gone too far, too fast

Bloomberg The dollar’s third straight weekly decline is triggering signals that U.S. currency weakness may be overdone. The greenback has gone from beating its major peers last year to losses against every one of those currencies this month. That’s pushed one measure of dollar momentum, the relative strength index, to its most extreme in almost four years as the Federal ...

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Iron Range investments may not create many jobs

AP A state body that invests in the Iron Range poured $17 million into a money-losing ski resort, gave financial assistance to businesses that may not have needed it and failed to require job creation in return for many of the loans it doled out, according to an audit of its activities released on Friday. The Office of the Legislative ...

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Istanbul suicide attack kills 4, wounds 20

Baikonur / AFP A suicide bombing rocked a major shopping street in Istanbul on Saturday, killing four people and wounding 20 others just six days after a deadly attack in Ankara, Turkish authorities said. The attack took place on Istiklal Caddesi, a pedestrian street that was relatively quiet Saturday morning but is usually thronged with shoppers, strollers and buskers later ...

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Top Paris attacks suspect to be transferred to France

Brussels / Belgium Top Paris attacks suspect Salah Abdeslam, who was captured in a dramatic raid in Brussels, was to be questioned by Belgian police on Saturday ahead of his speedy transfer to France. Following his release from hospital where he was treated for a slight gunshot wound to the leg sustained during his arrest, Abdeslam was to be quizzed ...

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USA, Philippines defence pact agree on ‘5 locations’

WASHINGTON / AP The US and the Philippines announced five locations where American forces will have access under a new defense pact, including one facing disputed islands in the South China Sea. The announcement came at strategic talks in Washington, where the allies reiterated their opposition to the militarization of outposts in those waters, where six Asian governments have competing ...

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UN condemns ‘unacceptable’ North Korea missile tests

United Nations / AFP The UN Security Council strongly condemned North Korea over its ballistic missile launches and demanded Pyongyang to refrain from further violations of UN resolutions. Backed by China, Pyongyang’s ally, the council said in a unanimous statement that “all these launches were unacceptable” and “constituted a clear violation of UN Security Council resolutions.” The statement was adopted ...

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