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Malaysia defends move to extend licence for rare earth firm Lynas

KUALA LUMPUR, Sept 04 (Reuters): Malaysia's government said on Wednesday its decision last month to extend a license for Australia's Lynas Corp for processing rare earth minerals aimed to show investors that the Southeast Asian nation was open for business and preserve 600 jobs.Prime Minister Mahathir Mohamad's party had promised...

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Cathay Pacific chairman John Slosar steps down

HONG KONG, Sept 04 (AFP): Cathay Pacific announced Wednesday its chairman John Slosar is stepping down to retire, the latest high-profile executive to leave the troubled airline after it drew Beijing's ire over pro-democracy protests in Hong Kong.The flagship carrier has had a torrid few weeks after Chinese state media...

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Oil rises, but economic worries loom

LONDON, Sept 04 (Reuters): Oil prices rose on Wednesday, boosted by a wider market pickup on positive news from China's services sector, after three days of losses on lingering fears about a weakening global economy.Brent crude LCOc1 was up 46 cents, or 0.79 per cent, at $58.72 a barrel by...

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Gold prices fall sharply but silver rates rise

NEW DELHI, Sept 04 (Reuters): Gold prices fell on Wednesday after hitting a new high but silver prices continue to rise in India. On MCX, October gold futures prices were down 0.61 per cent to 39,436 per 10 gram, after hitting a new high of 39,770 earlier in the session....

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Russian wheat declines for fifth week

MOSCOW, Sept 04 (Business Recorder): Export prices for Russian wheat fell last week for the fifth consecutive week as competition with Ukraine and other producers intensified, analysts said on Wednesday.Russian wheat exports have been slow so far this season, to the benefit of Ukraine which has seen a surge in...

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