Monday 30 May 2016
 
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Oil nudges $50 as investors bet on shrinking overhang

Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in US inventories.

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US new homes sales hit 8-year high

New US single-family home sales recorded their biggest gain in 24 years in April, touching a more than eight-year high as purchases increased broadly, a sign of growing confidence in the economy's prospects. Tuesday's repo

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Oil rises on US crude drawdown hopes

Oil prices rose on Tuesday as investors anticipated a weekly drawdown in US crude inventories that they hoped would boost prices closer to $50 a barrel, while a rally on Wall Street also lent support. "We're gearing up on

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Dubai opens world’s first 3D-printed building

The UAE has become one of the most important incubators for innovation across the globe with the launch of the world’s first fully functional 3D-printed building in Dubai, said a report. The unique building on the Emirates T

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Dubai opens world’s first 3D-printed building

The UAE has become one of the most important incubators for innovation across the globe with the launch of the world’s first fully functional 3D-printed building in Dubai, said a report. The unique building on the Emirates T

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Oil falls as Iran firm on export rise

Brent crude prices fell for a fourth consecutive session on Monday as investor focus returned to global supply, with Iran insisting on a rise in oil exports and US drillers slowing the reduction in rigs.   Global

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Goldman Sachs sees oil in $50-$60 range through 2020

Goldman Sachs said it expects US oil prices to hold in a $50 a barrel to $60 a barrel range through 2020, due mainly to improved shale oil productivity and increased supply from Opec producers.   "We continu

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Mumtalakat in US real estate partnership deal

Bahrain Mumtalakat Holding Company, the sovereign wealth fund of the kingdom, has joined hands with Regent Properties, a real estate development and investment firm based in Los Angeles, US, to acquire a major stake in its existing portfolio of

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US, Japan FX row overshadows G7 meeting

The United States issued a fresh warning to Japan against competitive currency devaluation on Saturday, exposing a rift on exchange-rate policy that overshadowed a Group of 7 finance leaders gathering hosted by the Asian nation. J

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Russia urges joint US air strikes on Syria rebels

Russia has proposed to the U.S.-led coalition that they stage joint air strikes on Syrian rebels, including militant Islamist group Nusra Front, who are not observing a ceasefire, but the US responded coolly on Friday. Such action

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