By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia’s commodities ministry has proposed cutting an export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer. Plantation Industries and Commodities Minister Zuraida Kamaruddin said…
HONG KONG (Reuters) – Goldman Sachs has appointed banker E.G. Morse as a co-head of its China business and to lead the bank’s China global markets business, according to a memo seen by Reuters. Morse will relocate from Singapore to Shanghai and will serve as a co-head of Goldman Sachs China alongside Wei Cai and…
By Casey Hall SHANGHAI (Reuters) – What Ms. Zhang didn’t expect when she hunkered down for Shanghai’s citywide lockdown was complementary ready meals and desserts from luxury brands such as Louis Vuitton and Cartier to start arriving the very next day. Since the COVID-19 containment began on April 1, closing stores and paralysing online shopping,…
KYIV (Reuters) – Ukraine’s central bank will allow foreign investors in domestic bonds to transfer abroad their income received from the bonds after April 1 next year, the bank has said. Foreigners held 75.2 billion hryvnias ($2.55 billion) of the bonds before Russia began its invasion on Feb. 24. But the portfolio shrank after the…
KUALA LUMPUR (Reuters) – Malaysia is considering cutting its export tax on palm oil and plans to slow implementation of its biodiesel mandate to help meet global demand amid an edible oil shortage, its commodities minister told Reuters on Tuesday. Plantation Industries and Commodities Minister Zuraida Kamaruddin said in an interview her ministry has already…
By Ludwig Burger FRANKFURT (Reuters) – Agriculture and pharmaceuticals company Bayer reported quarterly adjusted core earnings rose a better-than-expected 27.5% on strong gains at its seeds and pesticides business. First quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-off items, came in at 5.25 billion euros ($5.55 billion), well above the average…
By Lisa Pauline Mattackal and Medha Singh (Reuters) – Bitcoin has scant experience with rising interest rates, posing perils for investors looking to capitalize on its dramatic drop. The cryptocurrency has tanked along with other risk assets such as tech stocks after the Fed amped up rates last week, sending them on a trajectory that’s…
SHANGHAI (Reuters) – Tesla Inc has halted most of its production at its Shanghai plant due to problems securing parts for its electric vehicles, according to an internal memo seen by Reuters, the latest in a series of difficulties for the factory. The plant plans to manufacture less than 200 vehicles on Tuesday, according to…
By Echo Wang (Reuters) -Gay dating app Grindr said on Monday it would go public through a merger with a blank-check acquisition firm – a deal that values it at $2.1 billion and features Tiga Investments CEO Raymond Zage on both sides of the transaction. Grindr said its existing shareholders would own 78% of the…
By Anshuman Daga SINGAPORE (Reuters) -Asian shares fell to their lowest in nearly two years on Tuesday, as investors fretted about the toxic cocktail of rising interest rates and lower economic growth. Growing fears of recession and a slowdown in China dragged down commodity-linked currencies and oil prices, though safety flows kept the dollar near…
