CHINA

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OPEC sticks to its guns, demand rising

OPEC ministers agreed not to change oil output targets they are already exceeding, anticipating that demand will pick up later in the year to mop up extra barrels.

Drive a Porsche? Up your status with a phone

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As if a Porsche isn't enough of a status symbol, the German luxury sports car company's subsidiary, Porsche Design, is marketing a mobile phone that's exclusive to Porsche owners.
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OPEC keeps oil output targets

OPEC ministers agreed not to change output targets they are already exceeding, an OPEC delegate told Reuters Wednesday, as demand should pick up later in the year to mop up extra barrels.
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Asian shares at 2-month high, yen falls on BOJ move

Technology stocks pushed Asian shares to a two-month high on Wednesday, powered by hopes of strong earnings for Intel, while the yen faltered after the Bank of Japan loosened policy in a bid to spur the flagging economy.
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China stands firm on yuan as U.S. ups pressure

China said on Wednesday it could not be any clearer in its repeated commitment to a stable exchange rate after the U.S. Congress threatened to levy duties on some Chinese exports if it fails to revalue its currency.
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Senate bill would penalize China over yuan

Members of Congress on Tuesday threatened Beijing with duties on some of its exports if it fails to revalue its currency, pressuring the Obama administration to label China a currency manipulator.
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Schools accused in Google hacking case ask why us?

With Google expected to decide soon whether to close its Chinese search engine, students at one of the schools cited by some reports for being behind hacking attacks on the Internet giant are decidedly ambivalent.
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Senate bill threatens stiff penalties on China

Members of Congress on Tuesday threatened Beijing with duties on some of its exports if it fails to revalue its currency, pressuring the Obama administration to label China a currency manipulator.
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China more concerned about Iran, wary on sanctions

China has become more concerned about international tensions over Iran's nuclear program, but remains doubtful that sanctions can resolve the stand-off, the Chinese foreign minister said on Tuesday.
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S Africa's gold output down, only 4th in world

Once upon a time South Africa was the largest gold producer in the world. But, things have changed now it has fallen to the fourth position in the world as the mines in the country are facing severe power problems and decline in the output. A further decline in the country's mined gold output in 2009 has now relegated the country to fourth position in the world gold production stakes.
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Australian cities must transform for population growth

Australia circa 2050, population 35 million, climate change induced rising sea levels have flooded the Gold Coast resort region, apartment blocks are now used to grow food and people commute in monorail pods above the sea.
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Blackouts could hurt Chile's copper output

Power distribution problems after a devastating earthquake in Chile could cut copper output more than 25 percent in the world's top producer of the red metal, creating supply fears and lifting global copper prices.
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China's latest worry: a local-debt mess

Shanghai unveils a $2.2 billion airport terminal on Tuesday, connected to the center of China's commercial hub by one of several new metro lines being built for the World Expo that opens in May.
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Futures point to higher open on Wall St; Fed eyed

Stocks index futures edged up on Tuesday, pointing to a slightly firmer start for Wall Street, ahead of a Federal Reserve meeting where policymakers are expected to reiterate a pledge to keep interest rates low for a long time.
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Stocks advance, dollar steady ahead of Fed

World stocks climbed on Tuesday while the dollar was corralled as investors bet the U.S. central bank will repeat its vow of keeping interest rates low for an extended period after its monthly meeting.
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China denies yuan behind U.S. trade gap

China on Tuesday shunned mounting U.S. demands for a stronger yuan, saying again that its currency is not the cause of its big trade surplus and vowing to keep the currency stable to shore up exports.
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Asian shares pare gains, dollar softer before Fed

Asian shares struggled to keep modest gains on Tuesday and the dollar gave ground as investors trimmed long positions ahead of a Federal Reserve policy meeting expected to repeat a pledge to keep rates low for a long time.

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