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International Business

Global transaction services organization SWIFT stated that in the month of August, China’s yuan has become fourth most used world payment currency, overtaking the Japanese Yen. The yuan has surpassed seven currencies in the past three years as a payment currency and is now only after the US dollar, the euro and the sterling.
Manufacturers and investors in Jordan's free zone are struggling with "sky-high" shipping costs to reach their clients in trouble-hit Iraq.
The President, Foud Masoum, hosted the Turkish Prime Minister Ahmed Davutoglu and the accompanying delegation at Salam Palace in Baghdad on Thursday.
Russia and Iran have signed a package of agreements in Moscow to build eight nuclear power units in Iran, TASS reported from the scene.
counter-sanctions against the West," said Markus Huber, senior analyst at brokers Peregrine & Black.
U.S. stocks fell on Tuesday as early enthusiasm from economic data faded and concerns about the conflict in Iraq prompted investors to book profits after the most recent rally.
Despite current challenges, growth in foreign direct investment to Egypt, Iran, Iraq, Lebanon and Jordan should overtake the expansion of flows to the GCC by 2019, according to a new report.
Oil demand will be higher in 2014 than previously estimated as global economic growth recovers, the International Energy Agency said. Pressure on supplies will ease in coming months as seasonal consumption dips.
Morgan Stanley lowered its gold price forecasts for 2014 on Monday, citing the impact of the US Federal Reserve's reduction of stimulus along with mounting regulatory pressure on investment banks to scale back commodity operations.
For the first time, since 1950, China is considering to increase the retirement age within the country, as policy makers have confronted that the prospect of a shrinking workforce that damps economic growth.
Qatar has reportedly shown its urge for developing the world’s largest gas field in Iran so that both the countries can reap maximum benefits through the projects for a long time.
In the month of November, OPEC crude oil production has continued to show downward movement due to a new series of output disruptions took hold in Libya. On the other hand, lower volume production from other states has outplayed Iraq’s rise in production of 192,000 b/d. This data has been revealed by the producer groups on the early part of this week.
According to a report, it has been stated that the Muslim consumer expenditure globally on food and lifestyle sectors, estimated at $1.62 trillion in 2012, are expected to reach $2.47 trillion by 2018.
Oil and gold fell while stocks climbed to the highest level since 2008 after Iran and world powers reached an initial deal on the nation’s nuclear program. Bond risk declined and the yen weakened to a six-month low.
Brent crude gained, extending its premium over West Texas Intermediate to a seven-month high, amid concern that recurring protests in Libya will disrupt the North African nation’s oil exports for an extended period.
On Sunday, two oil ministers stated that the oil prices are stable and steady. It has to be noted that the OPEC meeting is nearing this year and will be held within a couple of months.
Brent crude oil has revived from its lowest settlement in more than two months before the before the federal reserve of the US meets to review the pace of its stimulus measures for the world’s largest economy.
Crude oil production in June has been dropped by 370,000 barrels a day, or 1.2 percent, of OPEC, mainly due to the reason of worsening supply disruptions in Libya, Nigeria and Iraq, according to the International Energy Agency.
Last Thursday, after Egyptian army ousted its president, helping to ease concerns over the threat of supply disruption in the Middle East, oil price slipped towards 105 USD per barrel.
Huge market craze from the buyers have been observed regarding buying the gold bars, coins and nuggets after prices touched their lowest in more than last two years. Even this rush from the buyers has resulted in shortage of gold in Hong-Kong and Singapore.
As demanded by a Persian Gulf official, after Majid al-Moneef was promoted within Saudi Arabia’s Supreme Economic Council for the post of OPEC secretary-general, he withdrew his candidacy.
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