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Money
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Vodafone shares rally as UAE becomes biggest investor
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Why did India suddenly ban wheat exports?
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McDonald’s to exit Russia, sell business in country
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Wheat prices hit record high after Indian export ban
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Renault hands Russian assets to Moscow in nationalisation first
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Ryanair slashes annual loss as lockdowns lifted
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EU: Ukraine war to slash euro zone 2022 growth, boost inflation
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EU ministers urge Hungary to sign up to planned Russian oil embargo
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FTSE 100 edges higher as Vodafone offsets China jitters
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WSJ: JetBlue to launch tender offer for Spirit Airlines
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Japan’s Recruit sees more female executives as key to growth
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GIIB Holdings commences latex glove manufacturing plant in Nilai
KUALA LUMPUR, May 16 — GIIB Holdings Bhd (GIIB), a rubber compound and technical compound provider, has started its latex glove manufacturing facility in Nilai, Negri Sembilan....
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Asian stocks retreat on fears of recession from Covid damage
HONG KONG, May 16 — Asian equities retreated today following last week’s temporary rally on Wall Street due to fears of surging inflation and supply chain woes inflicted by...
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Saudi Arabia on track to hit oil output of over 13 million bpd by 2027, says minister
MANAMA, May 16 — Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or start of...
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European shares fall after China data adds to growth woes
LONDON, May 16 — European stock indexes opened lower today, after oil prices slid and riskier currencies took a hit during the Asian session as unexpectedly weak economic data...
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Dollar perched at two-decade high on weak China data
LONDON, May 16 — The US dollar consolidated gains near a two-decade peak today as poor Chinese economic data hurt cyclical currencies including the British pound and the...
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Billionaire Gautam Adani in US$10.5b deal for Holcim India cement business
MUMBAI, May 16 — Indian billionaire Gautam Adani struck a US$10.5 billion (RM46.18 billion) deal to buy Swiss cement giant Holcim’s local business, the companies said, betting...
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Tesla delays plan to restore Shanghai output to pre-lockdown levels
SHANGHAI, May 16 — Tesla Inc has delayed a plan to restore production at its Shanghai plant to levels before the city’s Covid-19 lockdown by at least a week, according to an...
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Renault sells stake in Russia’s Avtovaz, with buyback option
PARIS, May 16 — Renault RENA.PA will sell its majority stake in carmaker Avtovaz AVAZI_p.MM to a Russian science institute, the French carmaker said on...
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US, EU to boost coordination on semiconductor supply, Russia
SACLAY (France) May 16 — The United States and the European Union plan to announce today a joint effort aimed at identifying semiconductor supply disruptions as well...
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China's economy skids as lockdowns hit factories, retailers
BEIJING, May 16 — China’s retail and factory activity fell sharply in April as wide Covid-19 lockdowns confined workers and consumers to their homes and severely disrupted...
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Nakaso, candidate to head BOJ, calls for faster green growth strategy
TOKYO, May 16 — Japan needs a faster “third arrow” growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian...
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Dollar starts week on strong footing on firm safe-haven bid
HONG KONG, May 16 — The dollar started the week just off a 20-year high against peers today, as investors sought safety due to fears about global growth while cryptocurrency...
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IMF boosts weight of Chinese yuan, dollar in currency basket
NEW YORK, May 16 — The International Monetary Fund has lifted the weight of China’s yuan and the US dollar in the institution’s worldwide basket of reserve currencies, while...
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Asia stocks try to bounce, China data a risk
SYDNEY, May 16 — Asian share markets were attempting a rare rally today after Wall Street managed a bounce from deep lows, though investors were also braced for bad news from...
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Companies lawyer up to navigate Russia sanctions
PARIS, May 16 — The deployment of unprecedented sanctions against Russia over the Ukraine war has left companies with a complex legal minefield to navigate, prompting them to...
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Egypt says government purchases exempted from India’s wheat exports ban
CAIRO, May 16 — Any agreements by Egypt’s government to purchase Indian wheat will not be affected by an export ban announced by New Delhi, Egypt’s supply minister said...
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Economists sound the alarm over UK’s post-Brexit finance plans
LONDON, May 16 — More than 50 economists warned today that Britain’s post-Brexit plans to boost the competitiveness of its huge finance industry risked creating the kind of...
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Egypt expects to reach a agreement with IMF ‘within months’
CAIRO, May 16 — Egypt expects to reach a new programme with the International Monetary Fund “within months”, Prime Minister Mostafa Madbouly said yesterday in a televised...
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Pharmaniaga setting up RM300m plant to produce halal insulin, vaccines
TUMPAT, May 15 — Pharmaniaga Bhd is setting up a RM300 million halal insulin and vaccine plant in Puchong, Selangor, which is expected to be fully completed by end of 2023....