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Heineken Opens $60 Million Brewery in Myanmar

Dutch beer giant Heineken announced Monday it has opened a multi-million-dollar brewery in Myanmar, seeking to cash in on one of Asia's high-growth markets.

"Heineken has opened a 60 million dollar (53 million euro) brewery in Myanmar, which has a total capacity of 330,000 hectoliters per year and which will directly employ more than 200 local people," it said in a statement issued from Amsterdam.

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U.N. Chief Calls for 'Flexibility, Compromise' at Development Summit

U.N. Secretary-General Ban Ki-moon on Monday called for "flexibility and compromise" at a development financing summit that opened in Ethiopia's capital and is seen as crucial for efforts to end poverty and tackle climate change.

"I urge world leaders and ministers gathered here this week... to exercise flexibility and compromise. Let's put aside what divides us and put aside our self-interest in favor of working together for the common well-being of humanity," Ban told the opening of the summit.

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Greece Seals New Bailout Deal to Avoid Euro Exit

Eurozone leaders struck a deal Monday on a bailout to prevent debt-stricken Greece from crashing out of the euro after Athens bowed to draconian demands for reform.

After grueling 17-hour talks during which the future of European integration hung in the balance, leftist Greek Prime Minister Alexis Tsipras accepted terms set by his distrustful partners.

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Merkel Says Deal Not 'at Any Price', Tsipras Says Possible Sunday 'if All Parties Want It'

Eurozone leaders set Greece brutal take-it-or-leave-it conditions for a desperately needed bailout deal at a summit on Sunday as an exit from the single currency loomed ever larger.

Hawkish Germany pushed for a Greek "time out" from the euro if leftist Prime Minister Alexis Tsipras fails to agree terms for a three-year rescue plan worth up to 86 billion euros ($96 billion).

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Russia Considering Direct Fuel Deliveries to Help Greece

Russia is considering direct deliveries of fuel to Greece to help prop up its economy, Energy Minister Alexander Novak said Sunday, quoted by Russian news agencies.

"Russia intends to support the revival of Greece's economy by broadening cooperation in the energy sector," Novak told journalists, quoted by RIA Novosti news agency.

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EU Summit on Greece Canceled as Eurozone Talks Continue

The EU canceled a full 28-nation summit on Sunday to decide Greece's fate in the single European currency, although a meeting of leaders from the 19 countries in the eurozone will go ahead as planned.

The announcement by European Council President Donald Tusk came as eurozone finance ministers met for a second day to continue "difficult" Greek bailout talks, with the aim of reaching a deal that eurozone leaders can sign off on.

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Iran Trade with GCC Set to Grow but Oil Spat Looms

Iran should boost trade with its Gulf Arab neighbors if a deal on its nuclear program sees sanctions and an oil embargo lifted, but higher Iranian crude production could worsen tensions within OPEC, analysts say.

As of Saturday, the prospects of such a deal were still very much in question, with no sign of an end to a nail-biting deadlock after 15 straight days of negotiations in Vienna between Iran and major world powers.

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Indonesia Eyes Return to OPEC as Oil Crisis Looms

Indonesia is seeking to rejoin OPEC to get access to cheaper oil supplies as demand soars and domestic production falls, but critics say the move is an unwelcome distraction from efforts to overhaul the country's troubled energy sector. 

Resource-rich Indonesia, Southeast Asia's largest economy, was part of the Organization of the Petroleum Exporting Countries (OPEC) for almost 50 years until suspending its membership in 2009 after becoming a net oil importer.

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Greece Faces 'Difficult' Eurozone Judgment Day

Greece's eurozone partners were doubtful of a last-ditch bailout deal on Saturday, saying talks to stop it crashing out of the euro would be tough because trust in Athens had collapsed.

Hardline German Finance Minister Wolfgang Schaeuble led a chorus of skepticism about Greek Prime Minister Alexis Tsipras's new reform plan aimed at a third debt rescue package worth more than 80 billion euros ($89 billion).

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Reports: Toshiba President to Resign over Accounting Scandal

An accounting scandal involving massive Japanese conglomerate Toshiba deepened on Saturday as reports said the company's president would likely be forced to resign.

The resignation of Toshiba President Hisao Tanaka will be finalized after a third-party panel tasked with investigating the scandal releases its report as early as next week, the Kyodo news agency said, citing unnamed sources.

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