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Jordan Battling to Rescue its Key Earner Tourism

Natural wonders it has in abundance, but natural resources are lacking. And now one of Jordan's main money-earners -- tourism -- is being killed off by regional conflicts.

A haven of peace surrounded by war, Jordan is turning to contingency measures to try to revive its tourism industry which is suffering because of the raging violence in its neighbors Iraq and Syria.

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Oil Dips on Strong Dollar, Supply Fears

World oil prices fell further Monday on a stronger dollar and concerns that a supply glut will worsen following a landmark deal which will allow Iran to increase its crude exports.

Brent North Sea crude for September delivery dropped 48 cents to $56.62 a barrel nearing midday London trade.

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Gold Price Sinks to More than 5 Year Low

Gold slumped Monday to the lowest point in nearly five and a half years, weighed down by reports of massive selling in China, dealers said.

The precious metal tumbled to $1,072.35 in Asian deals, striking the lowest point since February 11, 2010, and breaching the key psychological barrier of $1,100.

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Banks Reopen, Taxes Hiked as Greece Seeks to Reboot Economy

Greek banks reopened Monday after a three-week shutdown imposed to stop a run on ATMs from crashing the financial system, but citizens woke up to widespread price hikes as part of a cash-for-reform deal with the country's creditors.

The bank shutdown since June 29 is estimated to have cost Greece's crisis-hit economy 3.0 billion euros ($3.3 billion) in market shortages and export disruption.

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German Economy Minister Due in Iran with Business Leaders

German Economy Minister Sigmar Gabriel flew to Iran Sunday, becoming the first top Western official to visit the country since world powers and Tehran reached a historic nuclear deal.

Gabriel, who is also Chancellor Angela Merkel's deputy and energy minister, embarked on the three-day trip with a "small delegation of representatives from companies, industry groups and the sciences", his ministry said in a statement.

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Banks to Reopen, Taxes Hiked as Greece Prepares to Reboot Economy

Greece prepared Sunday to restart its struggling economy with a revamped government, a bank reboot and a new round of tax hikes agreed after months of fraught confrontation with its creditors.

Banks are set to reopen Monday after a three-week shutdown estimated to have cost the economy some 3.0 billion euros ($3.3 billion) in market shortages and export disruption.

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Boeing Warns of Aircraft Issue after Panel Falls on Shanghai

U.S. aviation giant Boeing said Saturday it has asked airlines to address a maintenance issue after a passenger jet's landing gear panel fell after takeoff and fell on a Shanghai suburb.

The sheet of metal weighing 130 pounds (60 kilograms) plunged to the ground shortly after Air France Flight 111 took off from Shanghai headed for Paris on Monday, Boeing said.

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Greek Banks to Reopen Monday but Capital Controls Remain

Greek banks will reopen Monday after a three-week closure and withdrawal limits have been relaxed, but capital controls remain in place, a government decree said Saturday.

The decree sets a new cumulative weekly withdrawal limit of 420 euros ($458), with the daily limit remaining at 60 euros.

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Reshuffled Greek Cabinet Takes over to Enact Unpopular Reforms

A revamped Greek government took over Saturday in an effort to enforce a third bailout accompanied by tough fiscal reforms opposed by a sizable section of the ruling Syriza party.

Prime Minister Alexis Tsipras on Friday reshuffled his administration to fill the vacancies left by three cabinet members who were sacked after voting against the reforms in parliament last week.

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Report: Greek Bank Shutdown Cost Economy 3 Billion Euros

The three-week shutdown of Greek banks has cost the country's struggling economy some 3.0 billion euros ($3.3 billion) not counting lost tourism revenue, a report said Saturday.

Citing commerce groups, the Kathimerini daily said the retail trade alone had suffered a 600-million-euro loss, with apparel taking the main blow.

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