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BENGALURU: McDonald's Corp is selling its Russia business to its current licensee Alexander Govor and the restaurants would operate under a new brand, ending more than three decades of presence in the country following its invasion of Ukraine. The world's largest burger chain owns about 84% of its nearly 850 restaurants in Russia and became one of the biggest global brands to … [Read more...] about McDonald’s to sell Russia restaurants to local operator

TOKYO: Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth. Brent crude futures for July were up $1.32, or 1.2%, at $110.43 a barrel at 0700 GMT, after falling by more than $1 earlier in the … [Read more...] about Oil prices recoup early losses on China hopes, global supply fears

KOENIGSWINTER, Germany (Reuters) -Group of Seven financial leaders are likely to agree on Thursday and Friday on around $15 billion to help Ukraine pay its bills in coming months, but surging inflation, climate change, supply chains and the impending food crisis are also on the agenda. Finance ministers and central bank governors of the United States, Japan, Canada, Britain, … [Read more...] about Money for Ukraine tops G7 agenda; inflation, food a concern

JAKARTA, May 19 (Bloomberg): Indonesia, the world’s biggest shipper of edible oils, lifted a ban on palm oil exports in a move that will bring relief to the global market after the war in Ukraine choked off critical supplies. Palm oil exports can resume from May 23, President Joko Widodo said in an online briefing on Thursday. This is after considering improvements in local … [Read more...] about Indonesia lifts palm oil export ban in relief to global market; govt makes decision after improvements in local supply and prices

NAIROBI, May 18 (Xinhua) -- East African real estate executives on Wednesday said that they remain hopeful that the sector will recover from the COVID-19 shocks. Speaking at a forum in Nairobi, Kenya's capital, Tilda Mwai, research lead of pan-African real estate research firm, Estate Intel, said that the regional economic recovery has prompted a lot of interest in the sector … [Read more...] about East African real estate executives hopeful of recovery amid COVID-19 shocks