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Polls open in Iran’s presidential election – state TV

Polls open in Iran’s presidential election – state TV

Iranians began voting on Friday in a presidential election, state television reported, after a bitterly-fought campaign between President Hassan Rouhani and hardline challenger Ebrahim Raisi. “Everyone should vote in this important election … vote at early hours,” Supreme Leader Ayatollah Ali Khamenei said after casting his vote.

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Deutsche Bank chairman: Strong European capital market needed post-Brexit

Deutsche Bank chairman: Strong European capital market needed post-Brexit

Europe needs a strong capital market to maintain independence from the United States and in light of Britain’s decision to leave the European Union, the chairman of Deutsche Bank’s (DBKGn.DE) supervisory board said. Paul Achleitner, in an interview with Reuters ahead of the bank’s annual general meeting on Thursday, said he was motivated to sit for a second five-year term […]

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Iran’s re-engagement with the world at stake in Friday presidential vote

Iran’s re-engagement with the world at stake in Friday presidential vote

Iranians vote for president on Friday in a contest likely to determine whether Tehran’s re-engagement with the world stalls or quickens, although whatever the outcome no change is expected to its revolutionary system of conservative clerical rule. Seeking a second term, pragmatist President Hassan Rouhani, 68, remains the narrow favorite, but hardline rivals have hammered him over his failure to […]

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Top Bahrain activist denied bail: rights group

Top Bahrain activist denied bail: rights group

A leading Bahraini human rights activist was denied bail on Tuesday on charges of spreading false news, a pro-opposition rights group reported. The Bahrain Institute for Rights and Democracy added that Nabeel Rajab’s health is deteriorating after he underwent an operation last month for bleeding ulcers. “Rajab is charged with ‘spreading false news’ and faces three years for telling news […]

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Iraq in favour of extending any OPEC-led oil output cut – PM Abadi

Iraq in favour of extending any OPEC-led oil output cut – PM Abadi

Iraq is committed to reducing oil production to decrease a glut in the global market, and will support extending output cuts in line with any OPEC decision, Prime Minister Haider al-Abadi said on Tuesday. The Organization of the Petroleum Exporting Countries meets in Vienna on May 25 to consider whether to extend output cuts agreed in December last year between […]

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Iraq replaces Saudi as top oil supplier to India in April – trade

Iraq replaces Saudi as top oil supplier to India in April – trade

Iraq replaced Saudi Arabia as top crude supplier to India in April as refiners moved to boost their processing margins by purchasing the cheaper Basra Heavy oil grade, ship tracking and Thomson Reuters trade flow data showed. India’s April imports from Iraq topped 1 million barrels per day (bpd) for the first time, up by about a third from March […]

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Nigeria’s $450 million white elephant

Nigeria’s $450 million white elephant

With its futuristic film studios, luxury shops and elevated light railway, Tinapa should be a showcase of Nigerian dynamism, a commercial hub for West Africa raking in millions of dollars. But 10 years after it opened, the resort in southeast Nigeria is a ghost town and has become a symbol of monumental waste. Its majestic contours and avant-garde domes rise […]

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U.S. oil inventories fall; crude draws down for sixth week: EIA

U.S. oil inventories fall; crude draws down for sixth week: EIA

U.S. crude oil inventories fell for a sixth straight week, as OPEC efforts to reduce supply appear to be coming to fruition ahead of the cartel’s upcoming meeting next week, while gasoline and distillate stocks also dropped. The U.S. Energy Information Administration said on Wednesday that crude inventories <USOILC=ECI> fell 1.8 million barrels for the week to May 12, compared […]

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MTN Rwanda fined $8.5 million for license breach

MTN Rwanda fined $8.5 million for license breach

A regulatory agency says it has fined MTN Rwanda roughly $8.5 million for hosting its IT services outside the country. The Rwanda Utilities Regulatory Authority said in a statement Wednesday that MTN Rwanda, a subsidiary of the African telecommunications giant MTN Group, breached its license obligations by hosting its IT services in neighboring Uganda. The statement says MTN Rwanda was […]

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Czech PM Sobotka accepts Ivan Pilny as nominee for finance minister

Czech PM Sobotka accepts Ivan Pilny as nominee for finance minister

Czech Prime Minister Bohuslav Sobotka said on Wednesday he accepted the nomination of ANO party politician and former Microsoft executive Ivan Pilny as new finance minister. Pilny was proposed by the billionaire ANO founder and current Finance Minister, Andrej Babis, whom Sobotka wants dismissed due to suspicion he may have dodged taxes. Babis denies any wrongdoing. Sobotka told reporters he […]

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