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Vistara to not order new planes ahead of Air India merger, eyes international growth

By Aditi Shah NEW DELHI (Reuters) -Vistara will not place new plane orders while it awaits regulatory approval to merge with Air India but that will not stop the airline from adding more international routes to boost profits, its chief executive said on Tuesday. The full-service carrier, a joint venture between Singapore Airlines and India’s …

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Uganda unveils first commercial oil production drilling programme

By Elias Biryabarema KAMPALA (Reuters) -Uganda on Tuesday commissioned the first of its four planned oil rigs and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay. The East African country discovered commercial reserves of …

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IMF’s Georgieva sees broad deal with China on debt restructurings

By Chris Mfula LUSAKA (Reuters) -The International Monetary Fund has reached an understanding in principle with China about a debt restructuring strategy that could help resolve Zambia’s debt crisis, its chief said on Tuesday in Lusaka. Kristalina Georgieva made the comments on the final day of a three-day trip to Zambia which secured an IMF …

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South African rand weakens as investors await rate decision

JOHANNESBURG (Reuters) -South Africa’s rand weakened against the dollar on Tuesday as investors awaited the central bank’s decision on monetary policy later this week. At 1520 GMT, the rand traded at 17.2525 against the dollar, 0.28% weaker than its previous close. The dollar was 0.27% firmer against a basket of major currencies. The South African …

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Bank funding for renewables stagnates vs oil and gas – report

LONDON (Reuters) – The share of bank finance going to renewable energy rather than fossil fuels has little changed in six years, raising questions about how fast lenders are pushing energy clients to become greener, according to research published Tuesday. Since 2016 renewable energy has taken 7% of a total $2.5 trillion in bank loans …

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Logitech sees business customer caution as temporary

By John Revill (Reuters) -Logitech International said on Tuesday it expects the downturn in spending by business customers which hit its third quarter sales to be temporary, after the computer accessories maker reported a sharp drop in sales and profit. The maker of computer mice, keyboards and video conferencing equipment said its sales fell 22% …

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Yellen urges Zambia debt restructuring after talks with China

By Andrea Shalal LUSAKA (Reuters) -U.S. Treasury Secretary Janet Yellen said on Monday on a visit to Zambia it was critically important to restructure its debt, and she believes progress could be made after her frank talks last week with China, which is owed almost $6 billion by Lusaka. Yellen added that Zambia’s debt overhang …

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California dance hall shooting death toll rises as authorities identify victims

(Reuters) -The Los Angeles county coroner’s office on Monday began identifying the 11 people killed in the Lunar New Year massacre inside a popular dance parlor in Monterey Park, California. Ten victims died at the scene of the Saturday shooting. Authorities on Monday said an 11th person, a woman in her 70s, died while being …

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Police seek motive to Los Angeles-area mass shooting as 11th victim dies

By Tim Reid and Rich McKay MONTEREY PARK, Calif. (Reuters) -Investigators collected 42 bullet casings from the scene of one of California’s bloodiest mass shootings as they sought clues on Monday to what drove an elderly gunman to open fire in a dance hall he had frequented, killing 11 people, before taking his own life. …

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Yellen urges Zambia debt restructure after talks with China

By Andrea Shalal LUSAKA (Reuters) -U.S. Treasury Secretary Janet Yellen said on Monday during a visit to Zambia that it was critically important to restructure the country’s debt, and she believes progress could be made after her frank talks with key creditor China last week. Yellen added that Zambia’s debt overhang was a drag on …

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