Despite Overseas Weakness, US Durable Goods Rise
United Arab Emirates
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As American defense companies prepare to feel the ill effects of the sequester on their bottom lines, the companies are increasingly looking to court new customers abroad.
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*Boeing offer lacked interim aircraft the airline needed- CEO. COLOMBO, May 24- Loss-making national carrier Sri Lankan Airlines has signed a provisional deal with Airbus worth $1.3 billion to buy six A330-300 and four A350-900 aircraft between 2014 and 2023 to replace ageing aircraft, the state-run firm's CEO told Reuters.
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*Hikes size to $465 mln from $350 mln. DUBAI, May 23- National Bank of Abu Dhabi, the UAE's largest lender by market value, has increased its convertible bond offering to $465 million following high demand from investors for a rare convertible from the Gulf region. NBAD shares closed on Thursday at 12.05 dirhams.
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DUBAI, May 22- A slide in solar power costs and a surge in oil prices over the last few years has made solar power a win-win strategy for Saudi Arabia: saving billions of dollars of crude for export while making electricity at less than half the cost.
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DUBAI, May 22- The lure of sub-saharan Africa, with its geographic proximity and promise of higher returns, is tempting cash-rich Gulf Arab bond investors to look south, a marked departure from the relative comfort and familiarity of the Middle East.
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SEOUL/ BEIJING- North Korea sent one of its top military officials as a "special envoy" from its leader Kim Jong- un to Beijing on Wednesday, accompanied by a high-powered delegation in what appeared to be a bid to mend frayed relations with its most important ally.
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*Copper imports have doubled since Sterlite smelter closure on March 30. India's biggest smelter, owned by Sterlite Industries, was shut on March 30 after local residents complained of emissions that led to breathing difficulties, forcing top copper users to rely on rival Hindalco Industries for almost all their copper needs.
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*Iran is 4th- largest iron ore supplier to China. SHANGHAI/ LONDON, May 21- Iran's government is negotiating a tax of up to 40 percent on iron ore exports to take advantage of a surge in sales to China, aiming to replace revenue from oil and other sources eroded by sanctions.
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WASHINGTON- Two senior White House aides knew weeks ago that a probe of the Internal Revenue Service had found that the U.S. tax agency had inappropriately targeted conservative groups, but did not tell President Barack Obama, a White House spokesman said on Monday.
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*Liaising with UAE authorities, seeking quick resolution. DUBAI, May 21- Arabtec, Dubai's largest construction firm, said on Tuesday the delivery of projects was unaffected by what it called a partial labour stoppage, adding it was working with authorities in the United Arab Emirates to resolve the issue.
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May 20- The final countdown is under way to the maiden flight of the Airbus A350, Europe's answer to the Boeing 787 Dreamliner. *First, engineers at Airbus headquarters near Toulouse in southern France will turn on the Auxiliary Power Unit, a small turbine engine under the tail, used for power on the ground.
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NEW DELHI- India and China will study new ways to ease tensions along their ill-defined border, Chinese Premier Li Keqiang said on Monday in his first foreign trip since taking office, which comes just weeks after a military stand-off between the Asian giants in the Himalayas.
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DUBLIN, May 20- Elan announced its second major drug deal inside a week on Monday and said it would buy back more shares as it continues to bat against a $5.7 billion takeover bid from U.S. investor Royalty Pharma.
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*U.N. says Syria conflict a humanitarian catastrophe. LONDON, May 17- Syria has managed to increase its grain imports in recent months after a period when it was less active on international markets, traders say, a development that suggests President Bashar al-Assad has found a way to feed his people despite war.
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SINGAPORE, May 17- London copper futures edged lower on Friday to remain on course to end a three-week upward streak, undermined by a firmer dollar and indications that demand from top consumer China is unlikely to pick up strongly as Beijing shuns stimulus measures.
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SINGAPORE, May 16- Singapore Airlines Ltd reported weaker-than-expected full-year results and warned of a deteriorating environment as it struggles to cope with the rapid emergence of Gulf carriers and low cost Asian rivals.
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Inbound M&A into India totals $9.86 billion this year, the highest in Asia, Thomson Reuters data shows, pointing to growing confidence among overseas firms in the potential of a 1.2 billion-strong consumer market. "India as a country is under-consumed. In 2012, foreign direct investment into India dipped about 7 percent to $29.3 billion.
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NEW YORK, May 15- Qatar Airways' top executive said the Middle Eastern carrier wants to be a launch customer for Boeing Co's forthcoming 777 X mini-jumbo jet, and that the airline plans to open at least three new routes to the United States in the next 12 to 18 months. "
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CAIRO, May 15- Egypt said on Wednesday it had settled disputes with the Dubai- based developer DAMAC involving projects dating back to the Mubarak era- an agreement the government hopes will reassure prospective investors.
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NEW YORK, May 15- Qatar Airways' top executive said the Middle-Eastern carrier wants to be a launch customer for Boeing Co's forthcoming 777 X mini-jumbo jet, and that the airline plans to open at least three new routes to the U.S. in the next 12 to 18 months. "
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As American defense companies prepare to feel the ill effects of the sequester on their bottom lines, the companies are increasingly looking to court new customers abroad.