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Clouds Gather for Turkey Economy after Attempted Coup

A six percent loss in value of its currency, a plunge on the stock market and a downgrade by a key ratings agency.

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Hammond Says UK May Deploy Fiscal Stimulus in Fall

Britain could unleash a government stimulus package this fall to counter the negative effects of its vote to leave the European Union, its finance minister said Sunday.

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IMF Urges Key G20 Countries to Spend more for Growth

The International Monetary Fund (IMF) has warned risks to the global economy are growing, as it called on some G20 nations to boost government spending.

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U.N. to Help Turkey Boost Struggling Tourism Sector

The U.N. World Tourism Organization signed an agreement Friday with Turkey to help the country boost its ailing tourism sector, which has suffered due to a string of bombings and a failed coup.

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Eight Energy Giants Mull Cyprus Gas Exploration

Eight major energy firms have expressed interest in drilling for oil and gas off the coast of Cyprus, the government said Friday.

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UK Economy Suffers 'Dramatic Deterioration' from Brexit Vote

Britain's economy was battered by the Brexit vote last month and faced a "dramatic deterioration" in activity as orders dried up and business investments were canned, key data showed Friday.

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China Alone Can't Save World from Brexit Downturn, Says Li

The world cannot depend on China alone to save it from a Brexit-induced downturn, the country's premier said Friday, ahead of hosting a meeting of G20 finance ministers.

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IMF Boss Lagarde to Stand Trial over $400 Million Payout

IMF chief Christine Lagarde was ordered Friday to stand trial in France over a massive state payout to a colorful tycoon when she was French economy minister, dealing a setback to her stellar career.

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Eurozone Business Activity 'Resilient' despite Brexit

Economic activity in the eurozone fell in July, but only slightly in a signal that the bad effects of Brexit have yet to take hold in continental Europe, a closely watched survey showed Friday.

Data monitoring company Markit did not cite Britain's vote to leave the EU as the specific cause of the downturn, and even said France and Germany showed surprising resilience.

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IMF Head Calls for Quick End to Brexit Uncertainty

The head of the International Monetary Fund called Friday for quick action to end uncertainty over Britain's vote to leave the European Union, which she said is dampening global economic growth.

The IMF cut this year's global growth forecast by 0.1 percentage points to 3.1 percent in a report released this week due to the shockwaves of the British vote, said Christine Lagarde.

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