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Cuba's Private Sector Braces for U.S. Tourism Boom

Cuba's nascent private sector is bracing for an influx of visitors should the U.S. embargo ease, but many businesses in the communist country appear unprepared for a torrent of tourists.

Currently, most hotels, guest houses and restaurants in Cuba are state-owned, though the number of private enterprises has grown in recent years.

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European Stocks Enjoy 'Santa Claus Rally' as Oil Rises

Europe's main stock markets rose strongly on Monday in a renewed "Santa Claus rally" powered by a modest recovery in oil prices, dealers said.

In late morning deals in the British capital, London's FTSE 100 index of leading shares jumped 1.02 percent to 6,611.96 points compared with Friday's close.

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Russia's Central Bank Forced to Bail out Lender

Russia's central bank said Monday it had placed the troubled Trust Bank under supervision and would bail it out with 30 billion rubles (430 million euros, $525 million) to avoid bankruptcy.

It did not say if the problems of the lender, whose products are advertised by Hollywood actor Bruce Willis, were linked to the fall of the ruble, which has weakened Russia's financial system.

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Official: First UAE Nuclear Plant to Start in 2017

The first of four nuclear reactors being built by the United Arab Emirates will come on line in 2017 and the rest will be fully operational by 2020, an official said Monday.

"When they are fully operational in 2020, they will generate 25 percent of UAE power needs," the CEO of the Emirates Nuclear Energy Corp (ENEC), Mohammed al-Hammadi, told an energy conference in Abu Dhabi.

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IMF Policies Criticized over Ebola Outbreak

International Monetary Fund (IMF) policies left healthcare systems in the African countries worst affected by Ebola underfunded and lacking doctors, and hampered a coordinated response to the outbreak, researchers said Monday.

Links between the IMF and the rapid spread of the disease were examined by researchers from Cambridge University's sociology department, with colleagues from Oxford University and the London School of Hygiene and Tropical Medicine.

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For Russia's Economy, the Worst is yet to Come

Deep recession, skyrocketing prices and a fragile banking system: although the ruble seems to have stabilized after its abysmal drop this past week, Russia still faces the heavy consequences of the turbulence.

For most Russians, the week ended with relief: after trading at unbelievable levels of 80 to the dollar and 100 to the euro, the ruble appears to have stabilized at around 60 and 73, respectively.

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In Rural Russia, Plunge of the Ruble still a Remote Concern

In a myriad of villages like Voskresenskoye, nestled deep in the Russian countryside, the monetary turmoil roiling the nation's large cities still seems a largely distant threat.

"This crisis is for the rich, for people who have dollars. We never had money here," said Tamara Boychenko, a 68-year-old retired resident of the village located in northwest Russia about 80 kilometers (50 miles) from Saint Petersburg.

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UAE: 'Irresponsible' Non-OPEC Output behind Oil Price Plunge

"Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes of the slump in prices, the United Arab Emirates energy minister charged Sunday.

"One of the main causes is irresponsible production by some producers from outside the organization, some of whom are newcomers," Suhail al-Mazrouei told an energy forum in Abu Dhabi.

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Cuba's Coke and Hollywood among Embargo's Paradoxes

Despite Cuba's reputation as an island cut off from all things American, it is possible to drink Coca-Cola and watch Hollywood movies here, one of the paradoxes of the five-decade embargo.

Cuba's postcard image of pre-embargo American cars rolling down Havana streets that are so close yet so far from Miami belies the fact that the United States is currently the communist island's ninth-largest trade partner.

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FCA Recalls 3.3 mn Autos Worldwide for Takata Airbags

FCA U.S., formerly Chrysler, announced Friday it will recall 3.3 million older-model autos worldwide due to concerns about faulty Takata airbags.

The move expands a previous recall that was implemented only in warm, humid climates in the U.S., responding to a demand from regulators for a nationwide U.S. recall. About 2.9 million of the affected cars are in the U.S.

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