FINANCE

Australia’s ruling party supports gay marriage, but no law change

SYDNEY, Dec 3 — Australia’s ruling Labor Party voted to support gay marriage today but ensured that there would be no immediate changes to marriage laws after warnings the move would see the party thrown out of office. After a passionate debate at the party’s national conference, Finance Minister Penny Wong, who is in...

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India’s finance minister calls for end to political protests against entry of foreign retail

NEW DELHI — India’s finance minister is calling on the nation’s political parties to drop their objections and allow the government to implement its new plan to bring major foreign retailers into the country. Pranab Mukherjee said Friday the investments that big box retailers would make in India’s infrastructure would be a benefit to...

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India minister calls for support of foreign retail

India’s finance minister is calling on the nation’s political parties to drop their objections and allow the government to implement its new plan to bring major foreign retailers into the country. (the story here…)

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India ‘suspends’ retail reform: govt ally

India’s government has “suspended” plans to open the nation’s huge retail sector to global competition that have paralysed parliament, a key ally of the ruling coalition said on Saturday. (the story here…)

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44 Nigerian Haj pilgrims died in Saudi Arabia

Abuja, Dec 2 (IANS) As many as 44 Nigerian pilgrims died in Saudi Arabia during the annual Haj pilgrimage, the National Haj Commission of Nigeria (NAHCON) Thursday confirmed. (the story here…)

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Sanctions blowback crippling Iran’s shipping trade

LONDON (Reuters) – Iran’s vital seaborne trade is suffering from escalating sanctions pressure as shipping companies scale down activities or pull out, with the Islamic Republic facing more hurdles in transporting its oil, trade and shipping sources say. The European Union tightened its sanctions against Tehran on Thursday and laid out plans for a...

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EU imposes sanctions on Iran over embassy storming

Europe ramped up pressure on Iran Thursday, with the European Union agreeing on new sanctions and Italy withdrawing its ambassador from Tehran after protesters attacked the British Embassy there earlier this week. (the story here…)

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Japan to Compile Fourth Extra Budget as Strong Yen Damps Rebound

Japan will compile a fourth extra budget for the first time in more than 60 years to support an economy under threat from a yen near postwar highs and Thai floods that have disrupted production. (the story here…)

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French keen on learning from Saudi experience in Islamic banking: Envoy

(MENAFN – Arab News) French academics have shown their keenness to make use of Saudi expertise and experience in Islamic banking and finance, said Saudi Ambassador to Paris, Muhammad bin Ismail … (the story here…)

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Pakistan Keeps Rates on Hold to Spur Growth as Investment Drops

Pakistan’s central bank left interest rates unchanged, pausing to gauge the impact of a 2 percentage- point cut since the end of July as foreign investment declines. (the story here…)

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