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China industrial profits tumble 18% in April as demand sputters

BEIJING (Reuters) -Profits at China’s industrial firms slumped in the first four months of 2023, official data showed on Saturday, as companies continued to struggle with margin pressures and soft demand amid a faltering economic recovery. Profits fell 20.6% in January-April from a year earlier, compared with a 21.4% decline in the first three months, …

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Modi inaugurates new parliament building as part of New Delhi’s makeover

NEW DELHI (Reuters) – Prime Minister Narendra Modi inaugurated India’s new parliament building on Sunday, a modern complex which is part of his Hindu nationalist government’s grand plan to give a makeover to the British colonial-era architecture in the nation’s capital. The inauguration, and the ongoing revamp of the heart of New Delhi based on …

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Biden, McCarthy reach tentative US debt ceiling deal

By Steve Holland, Gram Slattery and Katharine Jackson WASHINGTON (Reuters) -U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal to suspend the federal government’s $31.4 trillion debt ceiling on Saturday evening, ending a months-long stalemate. However, the deal was announced without any celebration, in terms that reflected the bitter tenor …

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China’s home-grown C919 completes first commercial flight

By Sophie Yu and Brenda Goh BEIJING/SHANGHAI (Reuters) -China Eastern Airlines Corp Ltd entered China’s home-grown narrow-body C919 jet into passenger service on Sunday and completed its first commercial flight, marking a milestone in the country’s effort to become more self-reliant. The C919 is the product of state-backed Commercial Aviation Corp of China (COMAC) which …

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Britain says border e-gates back in service after outage sparked delays

LONDON (Reuters) -Britain’s automated border control gates have returned to normal operation, the Home Office said on Saturday, after a nationwide system issue caused major delays. Images posted on social media earlier showed long queues of hundreds of people at London’s Heathrow and Gatwick airports, with frustrated passengers complaining of having to wait several hours …

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Truce reduces fighting in Sudan, but little relief for humanitarian crisis

By Khalid Abdelaziz and Nafisa Eltahir DUBAI/CAIRO (Reuters) -Khartoum was calmer on Saturday as a seven-day ceasefire appeared to reduce fighting between two rival military factions although it has not yet provided the promised humanitarian relief to millions trapped in the Sudanese capital. A truce signed on Monday by the two fighting parties – Sudan’s …

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Canada backs Ukraine’s application to join trans-Pacific trade pact

(This May 26 story has been corrected to remove ‘United States’ as one of the CPTPP countries mentioned in the last sentence) OTTAWA (Reuters) – Canada backs Ukraine’s application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Canadian Trade Minister Mary Ng said on Friday. “Following the UK’s accession, as more economies …

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