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
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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?
BANGKOK, May 19 (Reuters): Thailand has no need to raise interest rates following the Federal Reserve's hikes in US rates as domestic factors and the economic recovery will be the main issues determining policy, the central bank chief said on Thursday. The country's external position remains strong with low foreign debt and high international reserves, Bank of Thailand … [Read more...] about Thailand has no need to follow Fed’s tightening, says central bank chief
MANILA, May 19 (Reuters): The Philippine peso firmed on Thursday after its central bank raised rates for the first time in more than three years, while Asian shares tumbled on concerns around surging inflation, its impact on retail demand, and the threat of a recession. Stocks in Manila fell 1%, while the Philippine peso edged up 0.2%. The Philippine central bank raised its … [Read more...] about Emerging markets: Philippine peso firms after rate hike as Asian stocks fall on growth fears
KYIV (Reuters) -A Ukrainian state prosecutor asked a court on Thursday to sentence a Russian soldier to life in prison for killing an unarmed civilian in the first war crimes trial arising from Russia's Feb. 24 invasion. Vadim Shishimarin, a 21-year-old Russian tank commander, asked widow Kateryna Shelipova to forgive him for the murder of her husband, Oleksandr, in the … [Read more...] about Ukraine prosecutor seeks life sentence for Russian soldier in war crimes trial