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Fed Report Finds U.S. Economy Growing Modestly

The U.S. economy grew at a "modest to moderate" pace in recent weeks, with the housing market and construction improving nationwide, the Federal Reserve said in a report Wednesday.

The Beige Book's overall assessment of the U.S. economy was unchanged from the June 5 report.

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Global Poll Sees China Rising, but High Marks for U.S.

The world increasingly believes China will become the top superpower but the United States enjoys a better image in most regions, according to a poll released Thursday.

A 39-nation study by the Pew Research Center found that the United States is still enjoying the boost to its reputation that followed the election of President Barack Obama -- except in a number of Islamic nations where Washington remains widely disliked.

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Greece Austerity Push to Cost Thousands of Jobs

Greek deputies narrowly approved another wave of lay-offs and wage cuts affecting thousands of public sector workers Thursday, hours ahead of a rare visit to the country by the German finance minister.

The sweeping bill of reforms, tied to the country's next tranche of EU-IMF loans, was passed despite days of street protests.

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Thirsty Jordan Inaugurates Huge Water Project

Parched Jordan on Wednesday officially inaugurated a near-billion-dollar project to supply the capital with water from an ancient southern aquifer to help meet a chronic shortage.

King Abdullah II pushed the start button to begin pumping water from the 300,000-year-old Disi aquifer, 325 kilometers (200 miles) south of Amman.

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Greek Lawmakers Face Crucial Austerity Bill Vote

Greek lawmakers will vote Wednesday on a new austerity bill outlining controversial plans to redeploy 25,000 civil servants this year, despite mass protests against the reforms required for fresh aid funds.

Parliament needs to approve the bill for Greece to receive its next instalment of 6.8 billion euros ($8.9 billion) in bailout funds pledged by eurozone finance ministers.

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Barclays Faces $453-mln Fine over U.S. Energy Price Rigging

British bank Barclays has been hit by U.S. federal regulators with a $453-million (344-million-euro) fine for alleged electricity price manipulation in western U.S. markets, a charge which the scandal-hit bank denies.

In morning deals, Barclays' share price rose 0.37 percent to 309.30 pence, as investors shrugged off the news.

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Etihad Eyes Long Game in Australia

Etihad Airways chief James Hogan says the carrier is in Australia for the "long-term game" amid speculation that it was behind a flurry of Virgin share purchases this week.

Hogan confirmed the Abu Dhabi-based carrier was "buying on the market at the moment" after winning Australian government approval to increase its 10 percent stake in Virgin Australia to 19.9 percent.

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Governmnet: FDI into China Climbs in First Half

Foreign direct investment (FDI) into China rose 4.9 percent year-on-year during the first half of 2013, official data showed Wednesday, despite slowing growth in the world's second-largest economy.

Outbound investment from China leapt 29.0 percent to $45.6 billion, the commerce ministry announced, with major increases in the crucial U.S. and Australian markets.

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Cyprus Financial Minister Says Country Will Pass Bailout Test

Cyprus Finance Minister Haris Georgiades on Tuesday expressed confidence that Nicosia will pass a first review of its bailout targets from the troika of international lenders.

A 30-strong delegation from the European Commission, European Central Bank, and the IMF is on the island to assess whether the recession-hit country is meeting its troika-set targets as agreed in a memorandum of understanding with international lenders in March.

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Syria Regime Punishes Food Hoarders

The Syrian government approved on Tuesday a law imposing penalties ranging from fines to imprisonment for people caught hoarding food in the war-torn country, state television reported.

"A draft law penalizing those who raise food prices or hoard food has been approved" by the cabinet, said the broadcaster.

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