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Eurostat: Eurozone Growth Revised up to 0.4% in Second Quarter

The 19-nation eurozone grew by 0.4 percent in the second quarter, official data showed on Tuesday, revising upward a first estimate that sparked worries about the health of the European economy.

Last month, the EU's Eurostat agency said the eurozone grew by just 0.3 percent in the April to June period.

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China to Suspend all Trading when Stock Markets Volatile

China plans to halt all trading on its stock markets if they move five percent or more, according to a statement from the country's two exchanges, as authorities seek to control a rout.

If the CSI 300 index of 300 major listed companies rises or falls five percent, authorities will suspend trading on both the Shanghai and Shenzhen exchanges for 30 minutes, the bourses' statement said.

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Saving Accounts in Lebanon: Wasted Opportunities or Recourse on Rainy Days?

With the Christmas holidays almost just around the corner, we’re all starting to count our hard earned money.

“Do I have enough money to splash out on presents for everyone?” is a question we’ll be asking ourselves very soon, if we haven’t asked it already. Are you finding yourself a bit strapped for cash this year? Then consider looking into a savings account at a Lebanese bank at least you will be saving yourself for next year.

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Finnish Central Bank Chief Donates Month's Salary for Refugees

The governor of the Bank of Finland Erkki Liikanen has promised to donate a month's salary to help asylum-seekers.

"I have decided to participate in a fund-raising by the Finnish Red Cross with a sum that corresponds to my monthly net salary. That is 10,000 euros ($11,200). I know the funds will get across to those who are suffering the most," Liikanen wrote on his personal Facebook account on Sunday.

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BBC Boss Warns of 20% Budget Cut over Five Years

The BBC will have to cut budgets by 20 percent over the next five years, its director general said on Monday, warning that some services may have to shut.

"The BBC faces a very tough financial challenge... We will inevitably have to either close or reduce some services," Tony Hall said in a speech in London.

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Greek Crisis Prompts a Rethink on Food Waste

With little end to their economic misery in sight, Greeks are finding inventive ways to feed the poor while also fighting waste -- a movement that is chipping away at traditional attitudes to food. 

Three years ago, Xenia Papastavrou came up with a simple idea: take unsold food from shops and restaurants that was headed for the bin, and use it to feed the growing number of Greeks going hungry as the financial crisis took hold.

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Lufthansa Hit by New Pilots' Strike on Long Haul, Freight Services

Pilots at German airline Lufthansa said Monday they will stage new walkouts on freight and long-haul passenger services on Tuesday in their long-running dispute with management over early retirement provisions.

The strike, the 13th in 18 months, will begin at 0600 GMT and last until 2200 GMT. It will only affect the Lufthansa parent company, not the other airlines within the group, the pilots' union Vereinigung Cockpit said in a statement.

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Saudi to Cut Spending, Issue More Bonds to Shore up Budget

Saudi Arabia will cut spending and issue more bonds as it faces a record budget shortfall due to falling oil prices, the finance minister said on Sunday.

The kingdom -- the biggest Arab economy and the world's largest oil exporter -- is facing an unprecedented budget crunch after crude prices dropped by more than half in a year to below $50 a barrel.

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UAE's Etisalat to Open Shares to Foreigners from Sep 15

Foreign individuals and institutional investors will be allowed for the first time to buy shares of UAE telecoms giant Etisalat from September 15, the company said in a statement Sunday.

Etisalat, the second largest Arab telecoms firm after Saudi Telecom, serves 145 million customers in 15 countries.

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Global markets on tenterhooks awaiting China data

Global stock markets will be on edge this coming week as China announces a slew of data investors will comb for clues about slowing growth in the world's second-largest economy.

The government is scheduled to release monthly trade and inflation figures, as well as industrial output, fixed-asset investment and retail sales in the coming days.

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