Boeing deal off as India Flyington signs with Airbus

(Reuters) - "At this point in time, we are not going ahead with Boeing," T. Venkattram Reddy, chairman of Flyington Freighters, told Reuters on the sidelines of the signing ceremony with Airbus.."

Flyington Freighters will pay $175 million for each Airbus plane, said Kiran Rao, executive vice-president for marketing and contracts, customer affairs at Airbus.


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Zambia's Mufulira mine resumes partial output

(Reuters) - Zambia's Mufulira copper mine has resumed partial output after floods halted production at one of its shafts, a government official said on Tuesday.

Dyford Muulwa, district commissioner for Mufulira town, told Reuters that partial operations had restarted at the shaft, which was submerged for nearly three weeks.


Read more at Reuters Africa

Nedbank's Q1 earnings up, sees higher bad debts

(Reuters) - South Africa's Nedbank lifted its first-quarter headline earnings per share (EPS) by 26.3 percent, helped by solid retail and corporate lending growth but said it expected bad debts to increase.

Nedbank, majority-owned by insurer Old Mutual, said on Wednesday its headline EPS increased to 322 cents per share while on a fully-diluted basis headline EPS rose 25 percent to 310 cents.


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India's Monsoon Rains May Reach Eastern Coast a Week Early, Boosting Crops

(Bloomberg) -- India's monsoon, which provides water for two-thirds of the nation's farmland, may reach the eastern coast a week earlier than normal, encouraging farmers to plant crops such as rice, oilseed and cotton.

Rains may fall over parts of southeast Bay of Bengal and south Andaman Sea from May 11 or the following day, M. Rajeevan, director at the India Meteorological Department's National Climate Centre said in an interview from Pune. Rains typically start in that area by May 18, according to the office.


Read more at Bloomberg Commodities News

Repsol Is Holding Talks With Possible Investors in Argentine Unit YPF

(Bloomberg) -- Repsol YPF SA, Europe's fifth-largest oil company, is holding talks with investors interested in buying stakes in its Argentine unit, YPF.

The Madrid-based producer, which plans to keep control of YPF, is also considering selling shares in the unit through a public offering, Chairman Antonio Brufau said today at the company's annual shareholders' meeting. He didn't name any potential buyers or say when the sale will take place.


Read more at Bloomberg Emerging Markets News

Nice Systems first-quarter earnings rise

(Reuters) - Revenue for the quarter rose to $115.9 million from $87.9 million a year ago.




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Philippine Central Bank Deposits May Absorb $1 Billion, Guinigundo Says

(Bloomberg) -- The Philippine central bank may absorb more than 50 billion pesos ($1 billion) in funds from government companies and investors by giving them greater access to its deposit accounts, Deputy Governor Diwa Guinigundo said.

Bangko Sentral ng Pilipinas will tomorrow expand access to the deposit accounts, currently available only to banks, to attract the extra funds, Guinigundo said in an interview. The central bank is seeking to drain funds from the financial system to restrain growth in money supply after its broadest measure, M3, expanded 24.6 percent in March from a year earlier, the fastest pace in more than two years.


Read more at Bloomberg Bonds News