By Ceyda Caglayan ISTANBUL (Reuters) – Turkey’s banking watchdog has stopped allowing credit card payments by instalment for foreign travel, such as flights, travel agency fees and accommodation, in a step seen dealing a blow to foreign travel operators. The move, which hit airline shares and was seen as curbing foreign currency outflows, was one…
(Reuters) – Molson Coors Beverage on Tuesday raised its annual sales and profit forecasts, boosted by strong demand for its core brands Miller Lite and Coors Light. The brewer joins rivals Anheuser-Busch InBev, Brown-Forman and Constellation Brands that have recently posted upbeat results, supported by higher pricing and steady demand for alcoholic beverages. For the…
By Nikunj Ohri, Shivangi Acharya and Aftab Ahmed NEW DELHI (Reuters) – As Tesla examines building a plant in India, officials have asked the company to emulate Apple in finding local firms to partner with any Chinese suppliers involved, according to three government sources with direct knowledge of the matter. Tesla has been in talks…
SYDNEY (Reuters) – A UNESCO heritage committee on Tuesday stopped short of listing Australia’s Great Barrier Reef as a site that is “in danger” but warned the world’s biggest coral reef ecosystem remained under “serious threat” from pollution and the warming of oceans. Australia has been lobbying for years to keep the reef – which…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) – The pace and scale of interest rate hikes across major developed and emerging economies shifted into a lower gear in July with policy makers adopting a more cautious approach in the face of varied inflation rates and a lacklustre global growth backdrop. Three of the six…
(Reuters) – Tobacco giant Altria Group on Tuesday edged past Wall Street revenue and profit expectations, buoyed by demand for spitless nicotine pouches and higher pricing. Altria, which has been raising prices to counter the defection of consumers to cheaper brands in the face of persistent inflation, has banked on demand for its premium offerings…
By Asif Shahzad and Gibran Naiyyar Peshimam ISLAMABAD (Reuters) -Pakistan announced an increase in petrol and diesel prices on Tuesday to meet fiscal objectives laid down in a deal with the International Monetary Fund (IMF), adding further fuel to its sky-high inflation. The country’s Consumer Price Index rose to 28.3% in July, year-on-year, the statistics…
TOKYO (Reuters) – Toyota nearly doubled its operating profit in the first quarter, the Japanese automaker said on Tuesday, helped by increased sales and productivity as well as the tailwind from the weaker yen. “Sales volumes across all regions increased compared to the same period a year earlier due to productivity improvement efforts made together…
(Reuters) – Stanley Black & Decker reported a lower-than-expected loss in the second quarter on Tuesday, as cost cut measures cushioned a hit from cooling demand for its power tools. The industrial tools maker last year cut 1,000 jobs in an effort to trim costs, according to media reports. The New Britain, Connecticut-based company reported…
BEIJING (Reuters) -China’s export controls on some gallium and germanium products take effect on Tuesday, with traders braced for a drop in international supply in August and September while exporters sort out newly required permits. China, the world’s top supplier of the two minor metals used to make semiconductors, announced restrictions on the exports of…
