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China Signs Onto PNG's World-First Undersea Mine

Canada-based mining firm Nautilus Minerals said Tuesday it had signed China's Tongling Nonferrous Metals Group as the first customer of its pioneering Papua New Guinean sea-floor mine.

Nautilus, which is listed on the Canadian and London stock exchanges and has offices in Australia, said Tongling had agreed to buy 1.1 million tons of sulphides per annum from its Solwara 1 undersea mine for three years.

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Baghdad-Mumbai Flights Resume after 21 Years

Iraq will reopen this week the Baghdad to Mumbai air route after a hiatus of more than 21 years, as a growing number of Iraqis are travelling to India, officials said on Tuesday.

"Iraqi Airways will open on Friday the route between Baghdad and Mumbai after more than 21 years of interruption," Akram Louaybi, the flag carrier's spokesman, told Agence France Presse.

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Shell to Buy E. Africa-Focused Cove Energy for £1.12 bn

Royal Dutch Shell on Tuesday said it had agreed to buy Cove Energy, a London-listed company with key operations in East Africa, for £1.12 billion (1.37 billion euros, $1.81 billion).

The cash offer worth 220 pence per Cove share is an improvement on Shell's informal bid worth 195 pence per share made in February. Cove will be taken over by the Anglo-Dutch energy group's Shell Bidco subsidiary.

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BAA sells Edinburgh Airport to U.S. fund for £807 million

Spanish-owned airports operator BAA has agreed to sell Edinburgh Airport to U.S. investment fund Global Infrastructure Partners, which already owns Gatwick and London City hubs, it said on Monday.

"BAA today announces that it has agreed to sell its 100-percent interest in Edinburgh Airport Limited to Global Infrastructure Partners for £807.2 million ($1.3 billion, 990 million euros)," the group announced in a statement. The sale is expected to close by the end of May.

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Thomson Reuters Sells Healthcare Data Unit to Veritas

Media and business information giant Thomson Reuters said Monday it is selling its Healthcare data business to private investment group Veritas Capital for $1.25 billion.

The all-cash deal gives Veritas "the preeminent healthcare analytics company in the industry today," said Veritas chairman Robert McKeon said in a Thomson Reuters statement.

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Egypt Offers to Sell Gas to Israel at New Price

A senior Egyptian minister said on Monday her country is ready to resume gas exports to Israel but at a new price, after scrapping a long-term contract.

International Cooperation Minister "Fayza Abul Naga said the Egyptian side had no objections to reaching a new contract with new conditions and a new price," the official MENA news agency reported.

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Food Giant Nestle Buys Pfizer Nutrition for $11.85 Billion

Swiss food giant Nestle said Monday it has agreed to pay $11.85 billion to acquire infant food maker Pfizer Nutrition, which generates about 85 percent of its sales from emerging markets.

"Pfizer Nutrition is an excellent strategic fit and this acquisition underlines our commitment to be the world's leading nutrition, health and wellness company," Nestle chief executive Paul Bulcke said in a statement.

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Rolls-Royce Wins Engine Contract from U.S. Government

Aircraft engine maker Rolls-Royce on Monday said it had won a contract worth $598 million (454 million euros) to supply the U.S. military with 268 V-22 aircraft engines.

"Rolls-Royce ... has signed a $598 million contract with the U.S. Department of Defense for 268 AE 1107C engines for U.S. Marine Corps and Air Force V-22 aircraft," the British company said in a statement.

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Vodafone Agrees to Buy CWW for More Than £1.0 Billion

British mobile phone giant Vodafone on Monday said it had struck a deal to buy ailing telecoms firm Cable & Wireless Worldwide for more than £1.0 billion.

"Vodafone ... and Cable & Wireless Worldwide plc. are pleased to announce that they have reached agreement on the terms of a recommended cash offer pursuant to which Vodafone will acquire the entire issued and to be issued ordinary share capital of CWW," Vodafone said a statement.

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Report: Qantas Eyes Singapore for Premium Airline

Australian flag carrier Qantas is still considering Singapore as the base for a premium carrier in Asia, chief executive Alan Joyce said in a report published Monday.

Qantas' Asian plans, which it sees as key to its strategy of revitalizing its loss-making international business, were dealt a blow when talks with Malaysian Airlines over the premium joint-venture collapsed last month.

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