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Egyptian factories, hit by subsidy cuts, highlight Cairo's fiscal dilemma
ReutersAL-SAFF, Egypt (Reuters) - Hundreds of soot-stained factory chimneys dot the horizon in the industrial city of al-Saff, south of Cairo, but only a few spew black smoke. Two years after the revolution that overthrew president Hosni Mubarak, Egyptian...Tags: International Organizations, Finance, Economy, Business and Finance, Egypt, International Monetary Fund
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U.S. gasoline stocks buoyant ahead of driving season-EIA
ReutersNEW YORK, May 22 (Reuters) - As the U.S. summer driving season gets underway this Memorial Day weekend, stockpiles of gasoline in the United States are close to the highest level for this time of year since 1999, government data showed on Wednesday. In...Tags: Mutual Funds, Memorial Day
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BP to invest $2.85 billion in Iraq's largest oilfield
ReutersBASRA, Iraq (Reuters) - Oil major BP has allocated $2.85 billion to develop Iraq's Rumaila oilfield in 2013, up from $2.2 billion last year, the head of the joint management committee for the field told Reuters On Wednesday. Boosting output from Rumaila,...Tags: Iraq, China, BP Plc, Science and Technology, Upstream Oil and Gas Activities
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Target cuts full-year forecast after weak first quarter
Reuters(Reuters) - Target Corp cut its full-year profit forecast on Wednesday while turning in a weak first quarter with disappointing sales, as a chilly start to spring kept shoppers from buying seasonal items like clothing. Target warned in April its first-...Tags: Thomson Corporation, Target, Walmart, Weather, The Home Depot
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Analysis: Oil saving win-win drives Saudi solar power boom
ReutersDUBAI (Reuters) - A slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost....Tags: Renewable Energy, Saudi Arabia, China, ABB Ltd., Energy Saving
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U.S. RESEARCH ROUNDUP: Bristol-Myers, BlackBerry, NetApp, Home Depot
ReutersMay 22 (Reuters) - Wall Street securities analysts revised their ratings and price targets on several U.S. companies, including Carnival Corp and Bristol-Myers, on Wednesday. HIGHLIGHTS * Bristol-Myers Squibb : Citigroup raises to buy from neutral *...Tags: Natural Resource Industry, Weight, Cree Incorporated, Bristol Myers Squibb Company, Finance
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Manipulation probe draws attention to oil firms' trading desks
Reuters* Disclosure levels at oil majors lags those of secretive traders * Risk appetite bigger at top Wall Street banks * Pressure for stricter oversight rises both in US, EU By Dmitry Zhdannikov and Claire Milhench LONDON, May 22 (Reuters) - Europe's...Tags: European Union, International Organizations, Glencore International AG, U.S. Department of Justice, Crime, Law and Justice
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REFILE-Talisman's faulty Yme platform to go in 2014
Reuters* New development plan for Yme field seen in 2014-2015 * No new cost estimate yet for the project - Talisman Energy * Yme costs $2.4 bln so far, nearly triple original costs By Gwladys Fouche OSLO, May 22 (Reuters) - Talisman Energy expects to...Tags: Talisman Energy Incorporated, Germany, BP Plc
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GLOBAL MARKETS-Dollar, German bond yields ease before Bernanke
Reuters* Dollar index dips 0.1 pct, German bond yields ease * Markets bets on 'no-change' signal from Fed chief * European shares ease off multi-year highs * Gold, copper gain on hopes of Fed support By Richard Hubbard LONDON, May 22 (Reuters) - The dollar...Tags: Foreign Exchange Market, Central Bank, S&P 500, Federal Reserve, Stock Market
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Indonesia re-arrests Chevron exec amid tension with Big Oil
ReutersBy Fergus Jensen JAKARTA, May 22 (Reuters) - Authorities have bypassed a court order and re-arrested an executive at Chevron Corp's Indonesian unit in a graft case that highlights growing tension with big oil companies in a country struggling to...Tags: Chevron Corportion, Exxon Mobil Corporation, Civil Rights, Elan Corporation Plc, Crime, Law and Justice
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Azeri SOCAR to borrow $20 billion to boost exports to Europe
ReutersBAKU (Reuters) - Azeri state energy firm SOCAR plans to borrow more than $20 billion over the next five years to finance energy projects to help boost gas exports to Europe, a challenge to plans by neighboring Russia. SOCAR, one of the world's oldest oil...Tags: Singapore, Russia, Credit Ratings, Turkey, Finance
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Turkey eyes oil, gas deals with Iraqi Kurdistan in 2013
ReutersANKARA, May 22 (Reuters) - Turkey is looking to sign commercial contracts this year with Russian and U.S. companies operating in northern Iraq for joint oil and gas exploration, Turkish Energy Minister Taner Yildiz told Reuters. "We are likely to be...Tags: Iraq, Barack Obama, Ankara (Turkey), Turkey, Upstream Oil and Gas Activities
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