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(MENAFN - AFP) Citigroup said on Thursday it was selling its century-old Japanese retail banking operations to major lender Sumitomo Mitsui as part of an effort to shrink its consumer business globally.

Financial details were not released, but Japanese news reports estimated the deal to be worth about 40 billion yen ($333 million).

Under the agreement, Sumitomo unit ...

(MENAFN - AFP) The plunge of the ruble hasn't left only Russians shell shocked -- foreign workers from traders to maids are considering bailing out as Moscow turns from an El Dorado into a financial black hole.

The phenomenon is not quantifiable nor is there anything to indicate an exodus of expatriates is under way, but many admit to considering whether it is time to leave ...

(MENAFN - AFP) Saudi Arabia has given a "final warning" to avoid delays on an $8.2 billion high-speed rail project which Spanish and Saudi firms are helping to build.

The Haramain High Speed Rail system is to transport Muslim pilgrims, as well as regular travellers, 450 kilometres (280 miles) between the holy cities of Mecca and Medina via the Red Sea port of Jeddah.

Saudi ...

(MENAFN - AFP) Kuwait has commissioned a new natural gas plant that will raise the energy-rich state's production capacity to more than 2 billion cubic feet a day, officials said on Wednesday.

The new Liquefied Petroleum Gas plant will be capable of processing 805 million cubic feet (22.8 million cubic meters) of gas and 106,000 barrels of other gas products daily, the deputy ...

(MENAFN - AFP) Facebook said Thursday it had teamed with the National Football League to show ad-sponsored video clips at the leading social network.

The move comes as Facebook tries to tackle a multi-billion-dollar television advertising realm seen as ripe for disruption by Internet technology.

"This is a small video sponsorship test, and we will be evaluating how ...

(MENAFN - AFP) Before her husband died, Katia Abreu was a housewife who didn't know a cow from a bull.

Today, she is a powerful rancher and senator who was named Brazil's next agriculture minister, a choice that has infuriated small farmers, environmentalists and indigenous groups who call her the "queen of deforestation."

The post is a high-profile job in Brazil, the ...

(MENAFN - AFP) World oil prices Wednesday resumed their downward trajectory after data showed a large increase in US oil supplies.

US benchmark West Texas Intermediate for February delivery dropped $1.28 to $55.84 a barrel on the New York Mercantile Exchange.

Near 1900 GMT, European benchmark Brent oil for February delivery fell $1.70 to $59.99 a barrel in London.

Wednesday's ...

(MENAFN - AFP) Some 1,000 workers on a project to expand the Panama Canal were on strike Wednesday to demand better safety and treatment, the latest setback for the behind-schedule, over-budget upgrade.

Union leaders said three workers had received electric shocks recently because their managers had forced them to work in the rain.

The strike interrupted the fourth ...

(MENAFN - AFP) The Dow edged Wednesday to a fresh record in a holiday-shortened session, one day after topping 18,000 points for the first time ever.

The Dow Jones Industrial Average gained 6.04 points (0.03 percent) to 18,030.21, posting its sixth straight gain.

The broad-based S&P 500 snapped a five-day winning streak, falling a scant 0.29 (0.01 percent) to 2,081.88, ...

(MENAFN - AFP) British budget carrier EasyJet said Wednesday that about 40 flights would be cancelled the day after Christmas due to a strike in France by its flight attendants over scheduling and pay.

Though workers from SNPNC-FO and UNAC unions said their strike is to start on Christmas, there are no flights scheduled that day, so the walkout will affect only those flying ...

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