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Economy

Oil prices resume decline on supply glut worries

WT24 Desk SINGAPORE – Oil prices resumed their declines in Asia Wednesday following a US report showing stockpiles surged last week, with analysts warning for further weakness ahead, AFP reports.  Ahead of an official report, the industry-funded American Petroleum Institute ...

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New Brics bank launched in Shanghai

WT24 Desk The Brics group of emerging economies on Tuesday launched its New Development Bank (NDB) in Shanghai,BBC reports.   The bank is backed by Brazil, Russia, India, China and South Africa – collectively known as Brics countries. The NDB will ...

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Greek banks to reopen with controls

WT24 Desk Greek banks are set to reopen after three weeks of closures sparked by the deadlock over the country’s debt,reports BBC.  Athens reached agreement with its international creditors last week, in a cash-for-reforms deal that helped Greece avoid exiting ...

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Greece Passes Austerity Laws In Critical Vote

WT24 Desk Greek MPs have passed a series of painful new austerity measures into law aimed at saving the country’s economy from collapse. The reforms, including tax hikes and pensions, were backed, despite significant opposition inside the prime minister’s left-wing ...

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