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Xinhua World Economic News Summary at 0430 GMT, March 22

Posted on: Wednesday, 22 March 2006, 09:01 CST

Xinhua world economic news summary at 0430 GMT, March 22

WARSAW -- Lenovo Technology Polska, the Polish branch of the Chinese computer maker Lenovo Group, introduced its first Lenovo- branded computers to be sold in Poland starting from April 2006, Polish daily Rzeczpospolita reported on Tuesday.

According to a spokesman of Lenovo Technology Polska, entering into the Polish market is connected with the company's global strategy that is aimed at expanding into Western markets. Lenovo, the third largest personal computer manufacturer in the world, hopes to become global leader in world's PC market by 2010. (Poland- Lenovo)

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NEW YORK -- World oil prices rose slightly Tuesday on the eve of U.S. weekly energy stockpiles report.

New York's main contract, light sweet crude for delivery in April, rose 15 cents to close at 60.57 dollars per barrel.

On London's ICE Futures exchange, the price of Brent North Sea crude for May delivery gained 79 cents to 62.13 dollars per barrel in closing deals.

U.S. crude oil inventories was expected to climb up in tomorrow 's weekly energy stockpiles report. (U.S.-Oil Prices)

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PARIS -- The European Union's Internal Market Commissioner Charlie McCreevy on Tuesday called on the European banking industry to make more efforts in favor of the establishment of a single market of payment in Europe.

"Our objective is to make payments throughout the whole of the (SEPA) area as easy and convenient as domestic payments are today, " he told a gathering of some 200 bankers at the French Banking Federation based in Paris. (EU-Market)

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CARACAS -- The Organization of Petroleum Exporting Countries (OPEC) is scheduled to meet in Caracas on June 1, Venezuelan President Hugo Chavez announced Tuesday.

At the inauguration of a thermoelectric plant in the central city of Valencia, Chavez said the meeting is part of his efforts to implement his "strengthening strategy" designed to enhance the unity among OPEC nations.

"We reunified OPEC, we helped OPEC, we strengthened the organization and the price of oil began to rise," he said. (Venezueal-OPEC)

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RIO DE JANEIRO -- Brazilian state-owned oil company Petrobras said in a statement on Tuesday that it had won the bid for 10 U.S. offshore exploration and production areas in the Gulf of Mexico.

"With this result, the Petrobras group strengthens its position as one of the world leaders in ultra-deep water exploration... where three of the biggest discoveries in the region have been found," the company said in a statement. (Brazil-Oil Prices)

Source: Xinhua News Agency - CEIS

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