By Fransiska Nangoy JAKARTA (Reuters) -Indonesia, the world’s top palm oil producer, announced plans to ban exports of the most widely used vegetable oil on Friday, in a shock move that could further inflame surging global food inflation. The halting of shipments of the cooking oil and its raw material, widely used in products ranging…
By Toby Sterling AMSTERDAM (Reuters) – Amsterdam Trade Bank (ATB), a subsidiary of Russia’s Alfa Bank, has been declared bankrupt, the Dutch central bank (DNB) said on Friday, citing an Amsterdam District Court Ruling. A statement on the DNB website said ATB depositors would be covered up to 100,000 euros ($108,000) each under the Netherlands’…
By Arathy Somasekhar HOUSTON (Reuters) -Oil slipped on Friday and headed for a weekly decline, burdened by the prospect of weaker global growth, higher interest rates and COVID lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would further tighten supply. Brent crude was down $2, or…
(Reuters) – The Federal Reserve is poised to follow a half-of-a-percentage point interest rate hike in May with two even bigger rate hikes at subsequent meetings, traders bet on Friday, one day after Fed Chair Jerome Powell signaled he would be open to “front-end loading” the U.S. central bank’s retreat from super-easy monetary policy. Futures…
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Friday said it was worth considering taking steps to lower U.S. tariffs on Chinese goods given the “desirable effects” such a move could have on lowering U.S. inflation. “We want to do everything that we can to lower inflation,” Yellen told Bloomberg TV, citing steps by…
By Bansari Mayur Kamdar and Anisha Sircar (Reuters) – U.S. stocks tumbled on Friday after some weak earnings reports, with growth stocks coming under pressure in a torrid week that saw bond yields surge on expectations of interest rate hikes. All the 11 major S&P 500 sectors fell, with healthcare stocks dropping the most after…
By Rithika Krishna and Liz Hampton (Reuters) – Top oilfield services firm Schlumberger reported a higher first-quarter profit on Friday and increased its dividend by 40%, as rising oil prices boosted demand for services and equipment. Oil prices climbed to their highest in more than a decade during the quarter as Russia’s invasion of Ukraine…
BERLIN (Reuters) -The German government will cut its growth forecast for Europe’s biggest economy for 2022 to 2.2% from 3.6% amid the war in Ukraine, a government source told Reuters on Friday. It expects growth to pick up slightly to 2.5% in 2023, the source said. After two years of the coronavirus pandemic, the Germany…
By Fransiska Nangoy JAKARTA (Reuters) – Indonesia will effectively ban palm oil exports from April 28, until further notice, after President Joko Widodo on Friday announced a halting of shipments of cooking oil and its raw material to control soaring domestic prices. In a video broadcast, Jokowi, as the president is popularly known, said the…
By Marwa Rashad LONDON (Reuters) – Asian spot liquefied natural gas (LNG) prices were down this week on softer Spring demand but further downside is limited as Asian buyers are expected to start to return to the market. The average LNG price for June delivery into north-east Asia was estimated at $25.40 per metric million…
