Short term indicators such as industrial production and business surveys suggest that Indian economic activity has remained weak in recent months.

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"The trade data (shows) that external demand still remains weak, which is widely-known to the market, so I think investors will pay more attention to indicators that reflect companies' business operations, profitability and revenue growth, such as industrial production and power consumption, before they make up their mind, " said Dongxing Securities analyst Sun Zheng.

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The toughness of these bugs--which are types of bacteria or archaea called extremophiles--has long attracted researchers hoping to put them to work in industrial settings such as environmental cleanups or fuel production.

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The startup also plans to use the money to develop products for processing wastewater and delivering purified water for industrial operations such as oil and gas or beverage production, Green said.

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