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Morning business round-up: Dreamliner 'back within weeks'

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What's making the business news in Asia and Europe this morning? Here's our daily business round-up:

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Last Updated at 15:23 GMT

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Boeing has said that it expects commercial flights of its Dreamliner 787 plane to restart within "weeks".

The comments come just days after the US airline regulator approved its plan to redesign the lithium-ion batteries used on the plane.

All 50 Dreamliners in operation were grounded earlier this year after batteries on some planes emitted smoke.

Boeing said it had found a fix for the problem and had been carrying out tests on the proposed solution.

Plans to rescue near-bankrupt Cyprus are due to be presented to eurozone finance ministers later on Friday.

The bailout proposals are likely to contain a mixture of tax rises, one-off revenue-raising measures and plans to overhaul the island's banking sector.

In return, the European Union and International Monetary Fund would sanction a bailout worth up to 17bn euros ($22bn; £15bn).

Cyprus, heavily exposed to Greece's economy, has already bailed out banks.

Japan has said it wants to join the talks on the Trans-Pacific Partnership (TPP), a free trade agreement currently being negotiated among 11 countries.

The agreement is aimed at fostering closer ties and boosting trade in goods and services between member countries.

There have been protests in Japan against the pact, amid fears that it may hurt sectors such as farming.

But Prime Minister Shinzo Abe said that joining the group, which includes the US, is key to reviving Japan's economy.

Japan's parliament has approved Haruhiko Kuroda as governor of the Bank of Japan, who is expected to push for monetary stimulus to boost growth in the world's third-largest economy.

The upper house cleared Mr Kuroda after he won approval from the lower house on Thursday.

Mr Kuroda has said he will do whatever it takes to bring inflation up to 2%.

Japan has seen 20 years of intermittent falling consumer prices, which analysts say have hurt its economy.

On the markets, European stock markets were trading lower in late morning. On Wall Street, all eyes will be on the S&P 500 to see if it can reach a record close. On Thursday, the index ended two points below its all-time high.

The latest Business Daily podcast from the BBC World Service examines whether China needs to change its business model to compete in the global economy.

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