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Oil extends recent gains on supply disruptions in Libya

Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and the expectation that an Opec-led output reduction will be extended into the second half of 2017. Prices for front-month Brent crude futures, the international benchmark for oil, had risen 14c from their last …

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US, UK ban laptops on Middle East flights

A ban on laptops and tablets in cabin baggage on flights from Turkey and some countries in the Middle East and North Africa to the US and UK has come into effect. Officials say devices larger than a smartphone must travel in the hold because of an increased risk that …

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Trump’s healthcare bill withdrawn before vote

United States of America President Donald Trump has suffered a major setback after his healthcare bill was withdrawn before a vote in Congress yesterday. The bill faced certain defeat from members of Mr Trump’s Republican party, who control both houses of Congress. However, Mr Trump blamed the minority Democrats for …

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Egypt’s ex-president Hosni Mubarak freed after six years

EGYPT’S ousted president Hosni Mubarak has been released from jail after nearly six years, according to a lawyer. The 88-year-old left a Cairo military hospital for his home in the Heliopolis neighbourhood. Earlier this month, an appeals court cleared him of being involved in the killing of protesters during the 2011 …

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Oil edges up as Saudi Arabia cuts supply

Oil prices edged up yesterday, supported by a fall in Saudi exports to the US, but overall markets remained under pressure as a result of a world market awash with fuel. Prices for front-month Brent crude futures, the international benchmark for oil, were at $50,63 a barrel at 3.43am GMT, up …

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Ethiopian Airlines to launch Vic Falls flight

Ethiopean Airlines will launch its maiden Victoria Falls flight this Sunday. The airline’s group chief executive, Tewolde GebreMariam said the four weekly flights into the resort town were part of the carrier’s expansion plans linking the world to one of the world’s seven natural wonders. The Addis Ababa — Victoria …

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India seeks increased diamond trade

India said it is seeking to develop Zimbabwe’s diamond sector through increased trade. One of the emerging Asian giant’s leading industry bodies, I am SME of India, yesterday said it was looking for ways to partner with local diamond producers. “It’s deplorable that Africa in general and Zimbabwe in particular …

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Doubt about Trump’s tax cuts hits equities

Growing doubts US President Donald Trump will be able to deliver on a promise of tax cuts that has powered stock markets to record highs pushed shares lower yesterday and drove investors to seek safety in government debt, gold and the yen. The dollar touched a four-month low against the …

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China’s Sinopec in first oil deal in Africa

China’s Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corporation’s South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced yesterday. China Petroleum and Chemical Corp, or Sinopec, Asia’s largest oil refiner, said the assets include …

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Australia shouldn’t pick between US and China, Premier Li says

Australia doesn’t need to take sides between its biggest trading partner China, and its main ally the US, Chinese Premier Li Keqiang told lawmakers and business leaders in Canberra. “We respect your choices in your foreign policy,” Li said today during his first speech in a five-day visit to Australia. …

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