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Boeing Holds Nearly 40 Percent of Middle East Market

U.S. aerospace giant Boeing said Saturday it holds nearly 40 percent of the lucrative sales market in the Middle East and aims to increase its share.

"Today we probably have close to 40 percent" of the Middle East market, compared with 60 percent for European competitor Airbus, said Marty Bentrott, a regional sales chief for Boeing.

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Berber Protesters End Blockade of Libya-Italy Gas Pipeline

Berber protesters have ended their occupation of a gas terminal in western Libya that prompted the shutdown of an export pipeline to Italy, Libya's National Oil Company said on Saturday.

The protesters called off their more than two-week sit-in at the Mellitah terminal near Zwara, west of Tripoli, late on Friday but it will take longer to reopen the pipeline, NOC spokesman Mohamed al-Harairi told Agence France Presse.

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EU Ministers Narrow Differences over Banking Union

EU finance ministers narrowed Friday some of their differences over "Banking Union", a new framework meant to prevent a repetition of the financial meltdown that plunged Europe into crisis.

But ministers scaled back initial plans to hammer away at a still long list of obstacles deep into the night, leaving the clock ticking on much-needed compromises if EU leaders' timetable is to be respected.

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Forbes Magazine Publisher Seeks Buyer

Forbes Media, a prominent chronicler of great wealth through its magazine and other media, has put itself up for sale, the company's chief executive said Friday.

The family-owned Forbes hired Deutsche Bank to represent it after receiving a number of informal inquiries from possible suitors in recent months, Forbes Media CEO Mike Perlis said in a memo to employees.

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JPMorgan to Pay Investors $4.5bn over Mortgage Bonds

JPMorgan Chase said Friday it had reached a deal with 21 institutional investors to pay $4.5 billion for losses on mortgage securities it and Bear Stearns sold before the financial crisis.

JPMorgan said the deal would settle investors' claims that the bank and Bear Stearns, which it took over at the outset of the crisis, had misrepresented the asset quality of 330 residential mortgage-backed securities the investors were sold.

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China Cake Millionaire at Home in his Six Castles

As the greatest urbanization drive in history swells China's cities with ranks of identikit apartment blocks, one culinary businessman is indulging his architectural appetite with a visual feast of extravagant, outlandish castles.

"I don't have any hobbies, except for planting trees and building castles," said Liu Chonghua, standing on a crenelated turret atop the largest of the six he has constructed.

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EU Finance Ministers Debate Bank Rescues

European finance ministers are holding difficult talks on how to shore up their banking system and prevent further financial crises.

Officials from the 28 member countries are meeting Friday to narrow their differences on how to set up a new agency at the European Union level that could restructure failing banks and prevent their troubles from bankrupting individual countries through expensive bailouts.

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Mindshare and Industry Leaders Gear Up for “Art of Adaptation”

Dubai, United Arab Emirates – 6 November 2013 – It is not the strongest businesses that survive and flourish, but the most adaptable: Mindshare, a leading media agency in the MENA region, is at the forefront of the marketing industry’s ongoing transformation. The Mindshare team is excited to share global insights, ideas and best practices at the “Art of Adaptation” summit, an event that addresses the importance of adaptability.

Taking place on November 26th at the Marriott Marquis Hotel Dubai, this must-attend one-day event brings together groundbreaking speakers from around the world to provide fresh perspectives on adaptation in life and business.

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Barclays Bank to Cut 1,700 Jobs in Britain

Barclays bank plans to cut 1,700 jobs as it reduces the number of local branches in Britain, a spokesman said Thursday.

The spokesman confirmed a claim from the union Unite, saying the way customers accessed their money "is changing rapidly" and fewer branches were required.

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Report: CIA Collecting Records of Money Transfers

The CIA is secretly amassing records of international money transfers into and out of the United States, including operations handled by firms like Western Union, the New York Times reported Friday.

The Central Intelligence Agency is acting under the same law that the NSA uses to assemble a data base of Americans' phone records, the paper said, quoting current and former U.S. officials.

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