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China FX reserves fall almost $100B in January

China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows.
Source: Reuters
MIDEAST STOCKS-Saudi, Egypt edge down in early trade after oil weakens

DUBAI, Feb 7- Stock markets in Saudi Arabia and Egypt slipped in early trade on Sunday, erasing some of their gains in the previous session after oil prices reversed and global markets sold off at the end of last week. Saudi Cement rose 2.0 percent after the company recommended a dividend distribution of 3.00 riyals per share for the second half of 2015, versus a...
Source: Reuters
UPDATE 1-China FX reserves fall almost $100 bln to lowest since May 2012

BEIJING, Feb 7- China's foreign reserves fell for a third straight month in January, as the central bank dumped dollars to defend the yuan and prevent an increase in capital outflows. China's foreign reserves fell $99.5 billion to $3.23 trillion in January, the lowest level since May 2012, central bank data showed, but higher than the median forecast of $3.20...
Source: Reuters
China FX reserves fall $99.5 bln in Jan

BEIJING, Feb 7- China's foreign exchange reserves, the world's largest, fell by $99.5 billion in January, the central bank said in a statement on Sunday. China's gold reserves rose to $63.57 billion at the end of January, from $60.19 billion at the end of 2015, the People's Bank of China said on its website. China's International Monetary Fund reserve position was at...
Source: Reuters
India's Jet Airways posts record quarterly net profit

NEW DELHI, Feb 6- India's Jet Airways Ltd said on Saturday its December quarter net profit rose more than seven times, with sharply lower fuel costs helping the carrier post a third consecutive quarterly gain following a series of losses. Jet, India's second largest carrier by market share, said net profit in the October-December period rose to 4.67 billion...
Source: Reuters
Pennsylvania lawyer convicted in U.S. of insider trading

Herbert Sudfeld, 64, was convicted on charges of securities fraud and making a false statement by a federal jury in Philadelphia following a four-day trial, prosecutors said. The Doylestown, Pennsylvania- resident faces a maximum sentence of 25 years in prison, according to the U.S. Attorney's Office in Philadelphia. Sudfeld was indicted in July on charges that...
Source: Reuters | By: Nate Raymond
UPDATE 1-Canadian uranium producer Cameco reports quarterly loss

The company reported a net loss of C $10 million, or 3 Canadian cents per share, attributable to shareholders for the fourth quarter ended Dec. 31. Cameco had a profit of C $73 million, or 18 Canadian cents per share, in the year-earlier quarter. The company took an impairment charge of $210 million related to the Rabbit Lake operation in the fourth quarter compared...
Source: Reuters
Fed to raise, but a recession is unlikely: Econ

Market watchers been eyeing economic data, the Fed and low oil prices to predict the odds of a recession, these experts share their insight.
Source: CNBC.com | By: Denise Garcia
Canadian uranium producer Cameco reports quarterly loss

The company reported a net loss of C $10 million, or 3 Canadian cents per share, attributable to shareholders for the fourth quarter ended Dec. 31. Cameco had a profit of C $73 million, or 18 Canadian cents per share, in the year-earlier quarter. Excluding items, the company earned 38 Canadian cents per share.
Source: Reuters
US STOCKS-Technology rout pushes Nasdaq to lowest close since 2014

Feb 5- The Nasdaq Composite that includes large-cap technology names like Alphabet, Microsoft and Facebook led another broad rout on Wall Street Friday, closing at its lowest level since October 2014. LinkedIn Corp dropped 43.6 percent to $108.38 after a weak forecast, and business analytics company Tableau Software lost almost half its value.
Source: Reuters | By: Caroline Valetkevitch