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A Hindu priest waits to perform prayers next to Tejas, India's first locally-built Light Combat Aircraft, before its induction into the Indian Air Force at the Hindustan Aeronautics Limited Airport in Bengaluru, July 1, 2016. REUTERS/Abhishek N. Chinnappa

Combat aircraft Tejas enters service after 33 years

India's first locally-built combat aircraft officially took to the skies on Friday, 33 years after it was cleared for development, marking a long-held goal of cutting expensive imports to build a domestic defence-industrial base.

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Trafigura in talks to buy stake in Essar Oil - Bloomberg

Commodities trader Trafigura Group Pte is in talks to buy a minority stake in Essar Oil Ltd, which runs India's second biggest private sector refinery, in a deal that could be valued at around $6.5 billion, Bloomberg reported.

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Bond yields sink as central banks head for easier policy

LONDON The prospect of further cuts in interest rates and bond-buying to support a fractured global economy kept stock markets on the up in Europe and Asia on Friday, and drove U.S. and European government bond yields to their lowest in years.

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