(Reuters) -Singapore Airlines said on Thursday it expects competition to intensify in the coming months as carriers scramble to take advantage of strong overseas travel demand that helped the city-state’s flagship airline to post a record first-quarter profit. Airlines across the world are investing in improving flight frequencies and adding new destinations to reap maximum…
By Georgina Lee and Donny Kwok HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) on Thursday raised its base rate charged through the overnight discount window by 25 basis points to 5.75%, the highest in 16 years, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. Immediately after the…
LONDON (Reuters) – British retail sales fell in July at the fastest rate since April 2022 and stores are bracing for worse times ahead, with many chains cutting orders placed with suppliers, an industry survey showed on Thursday. The Confederation of British Industry’s monthly balance of retail sales, which compares volumes with a year ago,…
By Summer Zhen HONG KONG (Reuters) – Global hedge funds snapped up Chinese equities following the politburo meeting this week, buying on Tuesday at their fastest pace since October 2022, Goldman Sachs said in report. The higher inflows were led by mainland A-shares and then Hong Kong-listed shares, while U.S.-listed Chinese American Depositary Receipts (ADRs),…
By Kevin Buckland TOKYO (Reuters) – From a rising yen to debt market derivatives, market signals reveal how investors are going for some cheap but fail-safe options to make money on the off chance the Bank of Japan surprises them with a tweak to policy settings this week. The trading pattern in the run-up to…
(Reuters) -Singapore’s Keppel Corp on Thursday reported a more than seven-fold jump in its first-half profit boosted by a one-off gain from the sale of its offshore and marine unit and strong performance from the infrastructure business. Keppel sold its offshore and marine business in February for S$4.50 billion ($3.40 billion) to Sembcorp Marine, recognising…
FRANKFURT (Reuters) -Roche said it had abandoned certain drug development projects or acquisitions under consideration because of planned price cuts in best-selling prescription medicines in the United States. Speaking in a media call after the release of first-half results, CEO Thomas Schinecker said the Swiss group was not taking the lead on any legal action…
LONDON (Reuters) – Nestle will raise prices at a more moderate rate in the remainder of 2023, its CEO said on Thursday, as the company hit back at criticism that food manufacturers are charging more than they need to. Consumer goods companies have raised prices in the past two years in response to the impact…
By Kirsty Needham (Reuters) -U.S. Secretary of Defense Lloyd Austin said on Thursday during a visit to Papua New Guinea that the United States was not seeking a permanent base in the Pacific country but would boost the nation’s capability under a new defence agreement. Papua New Guinea (PNG) and the United States signed a…
By Richa Naidu LONDON (Reuters) -Nestle improved its full-year organic sales outlook and reported better-than-expected first-half organic sales, as the world’s biggest packaged food company again raised prices to cope with higher input costs. Nestle said it is narrowing its full-year organic sales growth guidance – which does not include the impact of currency movements…
