December, 2016

• 24 December

  Syria army, civilians reclaim ruined Aleppo

  

    Aleppo / AFP Syrian troops strengthened their hold over Aleppo after retaking full control of the city, as residents anxious to return to their homes moved through its ruined streets. The army announced on Thursday it had recaptured the former rebel stronghold of east Aleppo following a landmark evacuation deal that saw thousands of opposition fighters and residents bussed ...

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• 24 December

  Iran nuclear deal powers to meet January 10

    Brussels / AFP A high-level commission that oversees Iran’s nuclear deal with world powers will meet in Vienna on January 10 to address a complaint by Teheran about the renewing of sanctions by the United States. The meeting was called on Saturday by the European Union’s foreign policy chief Federica Mogherini, who coordinates follow-up of the nuclear deal for ...

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• 24 December

  Teva to pay $519mn in US probe over foreign bribes

  

    Bloomberg Teva Pharmaceutical Industries Ltd. agreed to pay $519 million to US authorities after admitting to paying bribes in Russia, Ukraine and Mexico to boost sales. Teva, the world’s biggest maker of generic medicines, admitted to making corrupt payments to public officials and doctors, including an unidentified high-ranking Russian government official, according to a statement on Thursday by the ...

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• 24 December

  Sales of new US homes rise to second-fastest pace since 2008

  

    Bloomberg Purchases of new US homes increased in November to the second-fastest pace in almost nine years as the beginning of a spike in mortgage rates persuaded buyers to quickly sign contracts. Sales rose 5.2 percent to a four-month high of a 592,000 annualized pace, Commerce Department data showed. The median forecast in a Bloomberg survey was for a ...

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• 24 December

  Canada’s economy shrinks on poor factory output

    Bloomberg Canada’s gross domestic product shrank unexpectedly in October as factories suffered their worst month in almost three years, adding to signs the country’s outlook is worsening. Output fell 0.3%, Statistics Canada said in Ottawa. Economists surveyed by Bloomb-erg expected a flat reading, but widespread declines in goods-producing industries contributed to the largest monthly drop since May. Manufacturing output ...

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• 24 December

  UK posts worst trade performance in 3 years

  

    Bloomberg The UK current-account deficit widened in the third quarter as Britain posted its worst trade performance in almost three years. The difference between money coming into the UK and money sent out was 25.5 billion pounds ($31.3 billion), the Office for National Statistics said. That’s equal to 5.2 percent of gross domestic product. The trade deficit widened to ...

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• 24 December

  ‘Saudi Aramco plans to sell off 49% stake within 10 years’

  

    Bloomberg Saudi Arabia is planning to sell almost half of Saudi Arabian Oil Co., the world’s largest oil company, al-Eqtisadiah reported. A 49 percent stake will be sold within 10 years, according to the Riyadh-based newspaper, which cites an unidentified senior government official. Deputy Crown Prince Mohammed bin Salman said in April that an initial public offering is planned ...

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• 24 December

  Algeria to boost drilling in 2017 to increase output

  

    Reuters Algeria’s Sonatrach will drill 290 wells in 2017 in comparison with 265 in 2016, the head of the oil and gas giant’s drilling division said late on Friday. OPEC member Algeria has seen a slow rise in energy output this year after years of energy stagnation, helped in part by increased production at existing fields like Hassi Messaoud ...

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• 24 December

  India’s ONGC to spend $1.2bn to buy gas block

  

    Bloomberg India’s biggest oil and gas producer will pay as much as $1.2 billion to buy a majority stake in a gas field off the country’s east coast, aiming to boost production as the country seeks to cut energy imports. State-owned Oil and Natural Gas Corp. Ltd.’s board approved the purchase of an 80 percent stake in Gujarat State ...

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• 24 December

  Turkey mulls power price caps amid gas shortage

  

    Bloomberg Turkey’s Energy Ministry met major power producers to ask them to voluntarily lower electricity market rates or face price caps, according to two people with knowledge of the matter. The meeting came after electricity for immediate delivery in the so-called spot market soared to a record on Wednesday as a natural gas shortage coincided with unusually cold weather, ...

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