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World leaders launch bid for climate breakthrough in Paris

French President Hollande and United Nations Secretary General Ban Ki-moon pose for a family photo during the opening day of the World Climate Change Conference 2015 in Le BourgetBy Bruce Wallace and Alister Doyle PARIS (Reuters) - World leaders launched an ambitious attempt on Monday to hold back the earth's rising temperatures, with French President Francois Hollande saying the world was at "breaking point" in the fight against global warming. Some 150 heads of state and government, including U.S. President Barack Obama and his Chinese counterpart Xi Jinping, urged each other to find common cause in two weeks of bargaining to steer the global economy away from its dependence on fossil fuels.

11/30/2015 09:57 AM

U.S. embraces responsibility to fix climate: Obama
By Jeff Mason and Bate Felix PARIS (Reuters) - President Barack Obama said on Monday the United States, as the world's second biggest emitter of greenhouse gases, recognised its role in creating the problem of global warming and embraced its responsibility to help fix it. Addressing more than 150 world leaders at the start of two weeks of U.N. talks in Paris, Obama said the staging of the summit in the French capital was a rebuke to Islamist militants who killed 130 people there on Nov. 13. "As the leader of the world's largest economy and the second largest emitter ... the United States of America not only recognizes our role in creating this problem, we embrace our responsibility to do something about it," Obama said.
11/30/2015 09:37 AM

Trucks carrying Turkish exports blocked at Russian border: association
ISTANBUL (Reuters) - Around 1,250 trucks carrying Turkish exports have been blocked from entering at Russian border posts and are stranded awaiting clearance, a senior shipping industry representative told Reuters on Monday. Russia and Turkey are at loggerheads after Turkey shot down a Russian warplane last week saying it violated Turkish air space, triggering economic sanctions from Moscow and the cancellation of visa-free agreements between the two countries. ...
11/30/2015 09:15 AM

Nigeria's distributable revenues rose in October to 473.83 bln naira: finance ministry

Nigeria's new minister of Finance, Kemi Adeosun, smiles after taking an oath of office during a swearing-in ceremony in AbujaNigeria's distributable revenues to the three tiers of government rose in October to 473.83 billion naira, up 21.5 percent from September, boosted by higher non-oil earnings, the finance minister said. "Non-oil revenue recorded a significant improvement in the month," Finance Minister Kemi Adeosun said. Nigeria, Africa's top oil producer and biggest economy, relies on crude sales for about 70 percent of its government revenues.

11/30/2015 09:12 AM

Oil prices rise awaiting OPEC gathering

At about 1330 GMT on Monday, US benchmark West Texas Intermediate for delivery in January was up 19 cents at $41.90 a barrelOil prices rose Monday as the market looked ahead to the end of the week when OPEC decides on whether to change its crude production target. Ministers representing members of the Organization of Petroleum Exporting Countries begin arriving in Vienna on Tuesday ahead of the cartel's meeting Friday. Analysts said traders will also tune in this week to two key speeches by US Federal Reserve chair Janet Yellen for clues on the timing of a interest rate hikes in the world's biggest economy.

11/30/2015 09:03 AM

South Africa's Alexander Forbes posts flat H1 profit, shares fall
South African financial services group Alexander Forbes said on Monday its first-half profit barely grew after many of its clients were laid off and withdrew their retirement savings. Shares in Alexander Forbes fell to a record low after the firm reported a profit increase of 2 percent to 552 million rand ($38 million). Following the withdrawals of retirement savings, Alexander Forbes spent heavily to attract new clients and had to do without the tailwind of rising equity markets as the economy of Africa's most industrialised slowed, one analyst said.
11/30/2015 08:21 AM

South Africa's trade deficit widens more than forecast, pushes rand to record lows

A worker inspects cars at BMW's manufacturing plant in Rosslyn, outside PretoriaSouth Africa's trade deficit widened more than expected in October as exports fell, official data showed on Monday, pushing the rand currency to its weakest on record against the dollar. The trade gap for Africa's most industrialised economy was at 21.39 billion rand ($1.5 billion) in October, the South African Revenue Service (SARS) said, up sharply from a revised 1.26 billion rand in September.

11/30/2015 07:43 AM

Chinese President Xi says climate deal must address economic gaps
PARIS (Reuters) - Chinese President Xi Jinping said it was crucial climate talks in Paris addressed economic differences between nations and allowed different countries to develop their own solutions to the problem of global warming. China, the world's top emitter, has always insisted that developed nations had to take the most responsibility for warming the planet and emerging economies needed to be given freedom to develop. "It is important to respect the differences among countries, especially developing countries," Xi told delegates in Paris on Monday at a U.N. summit. ...
11/30/2015 07:34 AM

China plans to launch carbon-tracking satellites into space

China's President Xi Jinping arrives at Orly airport, outside ParisChina plans to launch satellites to monitor its greenhouse gas emissions as the country, estimated to be the world's top carbon emitter, steps up its efforts to cut such emissions, official news agency Xinhua said on Monday. News of the plan comes as more than 150 world leaders arrived in Paris for climate change talks and Chinese President Xi Jinping and U.S. President Barack Obama said they would work together towards striking a deal that moves towards a low-carbon global economy. According to the Xinhau report, the country's first two carbon-monitoring satellites will be ready by next May after four years of development led by Changchun Institute of Optics and Fine Mechanics and Physics, part of China's Academy of Sciences.

11/30/2015 06:59 AM

Burundi’s inflation rises to 5.6 pct in October

Wider Image: Burundi - Life Beyond The ProtestsBurundi’s year-on-year inflation rate rose to 5.6 percent in October from 4.1 percent in September as prices rose for some food, official data showed on Monday. A rising inflation rate is the latest blow for the violence-racked country. Its economy is expected to contract by about 7.2 percent this year after growing 4.7 percent in 2014, the International Monetary Fund said in October.

11/30/2015 06:35 AM

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