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Indonesia's president picks cement executive to head Pertamina

JAKARTA, Nov 28 - Indonesia's president picked the president director of cement firm PT Semen Indonesia, Dwi Soetjipto, as the new head of state energy firm Pertamina , a cabinet minister said on Friday.

2:36pm IST

Generators Drax, Intergen fined for missing energy-saving targets

LONDON, Nov 28 - British electricity generator Drax Power has paid a 28 million pound ($44 million) penalty for failing to meet obligations to fund energy-saving measures such as loft and cavity wall insulation for households in low-income areas.

2:27pm IST

Hochschild Mining cuts output target at two Peruvian mines

Nov 28 - Silver miner Hochschild Mining Plc said it would cut production and spending at two mines in southern Peru in 2015 as a way to stay profitable at a time of weak prices.

1:56pm IST

As the shale dream fades, India's guar growers chase new markets

MUMBAI, Nov 28 - Sitting in his village in the desert state of Rajasthan, Sehdev Bishnoi worries that oil firms a world away in the United States will buy less of his guar in future, ending a short-lived boom that helped him and other Indian farmers out of poverty.

12:46pm IST

UPDATE 1-Australia's Fortescue slashes spending as iron ore rout bites

* Fortescue still expects to ship 155-160 mln tonnes in FY15

12:42pm IST
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Government plans to cut stake in state lenders to raise $14.4 billion

NEW DELHI - The government plans to raise about 891.2 billion rupees ($14.4 billion) by reducing its stakes in state-run banks to 52 percent, the junior finance minister said on Friday, sending shares of state lenders higher.