2022

By Bernadette Christina and Fransiska Nangoy (Reuters) – Indonesia, the world’s biggest palm oil exporter, has since April 28 halted shipments of the edible oil in a bid to flood the domestic market with supplies to control the soaring prices of cooking oil. Despite these tough policies that have rattled edible oil markets and cost…

NEW DELHI (Reuters) -India will allow overseas wheat shipments awaiting customs clearance, the government said on Tuesday, introducing some relaxation in exports after it banned overseas sales of the staple on Saturday. India will also allow wheat exports to Egypt, the government said in a statement. “It has been decided that wherever wheat consignments have…

BEIJING (Reuters) – The economy of China’s capital Beijing took a hit in April as authorities wrestled with a new COVID outbreak, telling residents to avoid going out or work from home and halting many businesses. Retail sales in the city of nearly 22 million people, a key gauge of consumption, shrank 16.05% in April…

(Reuters) – The Russian rouble weakened on Tuesday, stepping away from near five-year highs against the euro, after the central bank eased some capital controls that were the main driver of its strength in the past few weeks. The rouble has become the world’s best-performing currency this year despite a full-scale economic crisis, although this…

By Richa Naidu LONDON (Reuters) – Imperial Brands said on Tuesday the terms of its recent agreement to exit Russia did not include a clause allowing it to buy back its business there in future, as Western companies rush to leave the country following its invasion of Ukraine. The maker of Winston cigarettes and Backwoods…

By Sonali Paul MELBOURNE (Reuters) – Woodside Petroleum does not expect heavy selling of the company’s shares by BHP Group investors if Woodside’s acquisition of BHP’s petroleum business goes ahead in June, Chief Executive Meg O’Neill said on Tuesday. Woodside shareholders are set to vote on Thursday on a $40 billion merger to create a…

A look at the day ahead in markets from Dhara Ranasinghe. Bank of England boss Andrew Bailey is sorry for an “apocalyptic” view of the world, saying that monetary policy faces its biggest test in 25 years with surging inflation exacerbated by war in Ukraine and China’s COVID lockdowns. Federal Reserve chief Jerome Powell, who…

LONDON (Reuters) – Imperial Brands on Tuesday reported a marginal increase in first half sales as demand for ecigarettes and heated tobacco products helped make up for lower tobacco volumes. The maker of Winston cigarettes and Backwoods cigars reported adjusted net revenue of about 3.50 billion pounds up 0.3% in constant currencies, for the six…