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Russia Jails Air Traffic Controllers over Total CEO Death

Russia on Thursday handed three air traffic controllers jail terms for the deaths of Total CEO Christophe de Margerie and crew members in a collision with a snowplow in Moscow.

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Starved of Tourists, Paris Counts on Parisians to Pull Through

Stephane Manigold's bistro in western Paris is bustling this summer despite the coronavirus crisis that has emptied the capital of foreigners -- largely thanks to locals taking advantage of his newly created outdoor dining area.

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Microsoft Sees Growth amid Pandemic Computing Demands

Microsoft on Wednesday reported rising revenues in the past quarter amid strong demand for cloud computing services from pandemic-hit businesses and consumers and big gains in its Xbox gaming operations.

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Emirates to Cover Virus-Related Medical Costs

Emirates, the largest airline in the Middle East, will cover customers' coronavirus-related medical costs in a bid to "boost travel confidence", the Dubai Media Office reported Thursday.

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New U.S. Jobless Claims Rise to 1.42 Million amid COVID-19 Surge

Claims for government benefits by newly unemployed American workers rose to 1.42 million last week, the Labor Department said Thursday, reversing weeks of declines as coronavirus cases skyrocket nationwide.

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Oil Price Drop Pushes Spain's Repsol into Loss

Spanish oil giant Repsol said Thursday it suffered a second-quarter loss of 1.9 billion euros ($2.2 bn) due to the collapse of oil and gas prices and lower production due to the coronavirus epidemic. 

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Equities Mixed as US-China Tensions Offset Stimulus, Vaccine Hope

Stocks were mixed Thursday as investors juggled hopes for a new stimulus deal in Washington with coronavirus concerns and another flare-up between China and the United States.

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UN: Arab Economies to Shrink by 5.7% amid Virus Fallout

The pandemic will exact a heavy toll on Arab countries, causing an economic contraction of 5.7% this year, pushing millions into poverty and compounding the suffering of those affected by armed conflict, a U.N. report said Thursday.

The U.N.'s Economic and Social Commission for Western Asia expects some Arab economies to shrink by up to 13%, amounting to an overall loss for the region of $152 billion.

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Sudan Says to Devalue Currency amid Huge Budget Deficit

Sudan's government on Wednesday said it will devalue its currency due to a huge budget deficit and an economic crisis aggravated by the coronavirus pandemic.

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Qatar Airways Seeking $5bn Compensation over Airspace Closure

Qatar Airways said Wednesday it will seek $5 billion in compensation from Saudi Arabia, the UAE, Bahrain and Egypt for closing their airspace to the flag carrier as part of a regional feud.

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