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India lifts support price for rice

  • NEW DELHI: India hiked the base price it will pay farmers for rice this year well above current domestic levels, raising the prospects for a bumper harvest and exports from the world’s second-biggest producer. At the same time, it increased the floor price for soybeans to help the world’s top...
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Russia tightens budget to reduce oil price risk

  • MOSCOW: Russia will keep a tight grip on budget spending to reduce an excessive reliance on oil and gas revenues, according to a draft three-year budget plan reviewed by the new government yesterday....
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Xiamen Airlines orders 40 Boeing 737-800s for $3.5 bn

  • NEW YORK: US planemaker Boeing said Friday that Xiamen Airlines, a unit of China Southern Airlines, had agreed to purchase 40 next-generation 737-800s — an order valued at $3.5 billion at list prices.The deal requires Chinese regulatory approval, Boeing said in a statement, adding that it would...
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Commodity investors should demand benchmark change

  • LONDON: For the last two decades, the diversified approach to commodity investing encapsulated by the Dow Jones-UBS Commodity Index has outperformed the more production-weighted system employed by the Standard and Poor’s Goldman Sachs Commodity Index. While the GSCI remains popular with asset...
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Samsung sells 500 handsets a minute

  • SEOUL: Samsung Electronics, the world leader in mobiles and memory chips, said it likely earned a quarterly profit of $ 8.3 billion, as it sold close to 500 handsets a minute and as demand picked up for the flat screens it makes for mobile devices, including those for rival Apple Inc. products....
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India auto industry cuts sales growth forecast

  • MUMBAI: India's auto industry yesterday lowered its annual growth forecast for car sales for the third time this fiscal year, as a slowing economy and costlier loans keep buyers away from showrooms.The Society of Indian Automobile Manufacturers (SIAM) now predicts sales of between zero and 1...
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Kingdom booming market for executive jet makers

  • The Kingdom is a very specialized market, which offers great potential for corporate jet manufacturers, says a top Embraer official....
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‘Helicopter money’ policies in spotlight

  • LONDON: Wednesday night may have marked the “emperor’s new clothes” moment of the Great Recession, in which the world suddenly realizes its rulers are suffering from a delusion that doesn’t have to be humored. That delusion today is economic fatalism: the idea that nothing...
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Boeing plans to build world’s longest-range passenger jet

  • DUBAI: Boeing has shown airlines a blueprint for the world’s longest-range passenger jet, adding spice to a long-awaited revamp of its 777 wide-body jet, people familiar with the matter said.Boeing recently launched a race against Airbus for sales of the newest long-haul jets by announcing it had...
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Airbus ‘more confident’ on A350 as earnings rise

  • PARIS: Airbus expressed growing optimism about the schedule for the keenly-awaited maiden flight of its A350, amid speculation that its first new jet in almost a decade could debut before next month’s Paris air show....
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