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Fossil Fuels Losing Cost Advantage Over Solar, Wind, IEA Says

The cost of producing electricity from renewable sources such as solar and wind has dropped significantly over the past five years, narrowing the gap with power generated from fossil fuels and nuclear reactors, according to the International Energy Agency.

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Abu Dhabi's First Gulf Bank Said Raising $1 Billion Loan

First Gulf Bank PJSC, the United Arab Emirates’ third-biggest bank by assets, is seeking to raise about $1 billion from a syndicated loan to boost lending as liquidity in the economy tightens, two bankers familiar with the deal said.

Stocks Advance in Europe, Asia Amid China Holiday; Aussie Drops

European stocks followed Asian equities higher as a holiday in China gave investors respite from the market that’s been at the center of recent global volatility. Australia’s dollar weakened toward a six-year low after retail sales unexpectedly fell.

Oil Export Bill Said to Be Set to Move as Price Fears Ease

Congress is set to begin consideration of a measure to lift the decades-old ban on U.S. crude exports after a government study concluded the move wouldn’t raise gasoline prices for consumers, people familiar with the plan said.