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House Speaker says Democrats should cap spending to avoid U.S. debt default

WASHINGTON (Reuters) – House of Representatives Speaker Kevin McCarthy said on Sunday he believes Democrats would agree to cap government spending to avoid a U.S. debt default and he wants to discuss the idea with President Joe Biden. Republicans now in control of the House have threatened to use the debt ceiling as leverage to …

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Air finance summit tackles jet shortages amid China travel thaw

By Tim Hepher and Joanna Plucinska DUBLIN (Reuters) -Financiers at the centre of a $200 billion industry underpinning worldwide airline fleets are meeting in Dublin this week, gambling that China’s long-awaited decision to free travel will accelerate their recovery while warning of a shortage of jets. Three years after the spread of COVID-19 grounded thousands …

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Indonesia palm oil export curbs, biodiesel plans to hit world vegoil supplies

By Naveen Thukral and Bernadette Christina SINGAPORE/JAKARTA (Reuters) -A move by top palm oil exporter Indonesia to restrict shipments and boost domestic biodiesel consumption is set to squeeze global vegetable oil supplies already undercut by lower output in Southeast Asia and Latin America. Edible oil buyers, including price-sensitive consumers in South Asia and Africa, will …

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Singapore 2022 bunker fuel sales dip 4.3% y/y to 47.9 million tonnes

By Jeslyn Lerh SINGAPORE (Reuters) -Sales of marine fuel in Singapore, including sales of liquefied natural gas and biofuels, fell 4.3% year-on-year to 47.9 million tonnes in 2022, official data showed on Friday. Total bunker sales in the world’s largest bunkering hub eased as macroeconomic headwinds weighed on overall ship refuelling demand in Singapore, industry …

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Why Malaysia is considering a ban on palm oil exports to the European Union

By Mei Mei Chu KUALA LUMPUR (Reuters) -Malaysia, the world’s second-largest palm oil producer, on Thursday said it might stop palm exports to the European Union after the bloc imposed additional import restrictions on the edible oil due to concerns over deforestation. WHAT IS THE DISAGREEMENT ABOUT? Malaysia and Indonesia have for years been at …

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In tribute to rights leader King, Biden invokes ‘battle for the soul of this nation’

By Steve Holland ATLANTA, Ga. (Reuters) -President Joe Biden told Americans to look towards Martin Luther King Jr.’s life for lessons on repairing their divisions, extremism and injustice, as he become the first sitting U.S. president to speak at a Sunday service in the civil rights leader’s church in Atlanta. Marking Monday’s national holiday celebrating …

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