Gold drops on Fed stance, dollar strength

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NEW YORK (MarketWatch) — Gold futures fell Wednesday, pressured by data showing low U.S. inflation and by a jump in the dollar after stronger manufacturing reports and rising bond yields made the currency more attractive.

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Swiss head to polls amid immigrant, EU debt fears

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Archive AFP GENEVA - Switzerland headed to the polls Sunday to elect a new parliament, with fears over immigration and the impact of the eurozone's public debt crisis set to lean voters far-right. With an unemployment rate of just 2.8 percent and healthy public finances and output figures, the alpine state is an island of prosperity in Europe. Nevertheless, the far-right Swiss People's Party (SVP) appears to have struck a chord with the population through its aggressive campaign claiming that the "mass immigration" of foreigners was taking away Swiss jobs. Voters had already received their ballot slips over two weeks ago, and with school holidays underway in many cantons, most have already cast their votes by post. Polling stations were to remain open for a few hours on Sunday morning, with ballot boxes to be sealed by midday and sent to counting centers. Results are...
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Egypt economy recovering, wants Europe debt relief

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Industry says opening of banks boosted economy * IMF says recovery depends on tourism rebound By Tom Pfeiffer CAIRO, Feb 21 (Reuters) - Egypt would like European Union states to cancel its debts to them but has not made a formal request, the EU's local delegation said, as Egypt's economy showed signs of recovery from weeks of political turmoil. The government has slashed its growth forecast after 18 days of street protests across the country unseated President Hosni Mubarak, scaring off tourists, hitting inward investment and sparking a wave of strikes in banks, industry and government. The economy was worth an estimated $217 billion last year and it relies heavily on foreign investment, tourism and fees from the Suez Canal. A government statistics agency estimates the uprising cost the economy at least $1.7 billion. A spokeswoman for the European Union delegation in Cairo said European Union Ambassador Marco Franco met Finan...
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