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
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During US-ASEAN Special Summit, the US pledged US$150 million to tackle several key topics ranging from maritime security to pandemic preparedness to clean energy. Despite hitting the right notes, the summit lacked the concrete trade and investment commitments that ASEAN members were seeking. Access to the prized US market for ASEAN will be vital if Washington wants to balance … [Read more...] about Why Does the US-ASEAN Special Summit Lack Substantial Value?
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
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
BENGALURU: The Philippine central bank will kick-off its tightening cycle tomorrow, much earlier than previously thought, joining peers around the world in a race to tighten monetary policy to tackle rising inflation, a Reuters poll found. With economic growth in the South-East Asian nation at its fastest in nearly a decade and inflation at a more than three-year high, the … [Read more...] about Philippine central bank ‘to start tightening cycle’