Category Archives: Business News

DUBAI (Reuters) – China’s state-owned energy major CNPC has taken over the share in Iran’s multi-billion dollar South Pars gas project held by France’s Total (TOTF.PA), the Iranian state news agency IRNA reported on Saturday. FILE PHOTO: The logo of CNPC (China National Petroleum Corporation) is pictured at the 26th World Gas Conference in Paris, […]

SAO PAULO (Reuters) – Heineken NV (HEIN.AS), the world’s second-largest beer maker, is considering closing two factories in northeastern Brazil as “an extreme measure” after a court ordered the company to sell beer and soft drinks in the region at a money-losing price, the company said on Friday in a statement. FILE PHOTO: Heineken beers […]

FRANKFURT (Reuters) – Mercedes-Benz sports utility vehicles built in Tuscaloosa, Alabama, are being checked for potential problems by Shanghai customs authorities, Daimler (DAIGn.DE) confirmed on Thursday, as a trade dispute between the United States and China heats up. The Daimler logo is seen before the Daimler annual shareholder meeting in Berlin, Germany, April 5, 2018. […]

HYDERABAD (Reuters) – IKEA will set some prices even lower in India than elsewhere when it opens its first store in the country on Thursday, as it woos cost-conscious shoppers unaccustomed to DIY furniture. The logo of IKEA is seen outside its under construction store in Hyderabad, India, July 18, 2018. REUTERS/Danish Siddiqui Over a […]

(Reuters) – Saudi Arabia’s sovereign wealth fund, overseen by Crown Prince Mohammed bin Salman, has built a significant stake in Tesla Inc, the Financial Times reported on Tuesday, citing people with direct knowledge of the matter. FILE PHOTO: A Tesla sales and service center is shown in Costa Mesa, California, U.S., June 28, 2018. REUTERS/Mike […]

(Reuters) – Tyson Foods Inc (TSN.N), the No. 1 U.S. meat processor, beat analysts’ quarterly profit estimates on Monday due to strong demand for beef, but executives warned that trade disputes were threatening the company’s pork and chicken businesses. China is importing less U.S. pork after Beijing imposed tariffs on American shipments as part of […]

JAKARTA (Reuters) – Indonesia lobbied visiting U.S. Secretary of State Mike Pompeo to keep the Southeast Asian nation on a list of countries that receive preferential trade terms, its foreign and trade ministers said on Sunday. (L-R) Indonesia’s Foreign Minister Retno Marsudi stands beside Indonesia’s President Joko Widodo as he talks to U.S. Secretary of […]

OTTAWA (Reuters) – Canada wants negotiations to renew the trilateral NAFTA trade pact to be concluded as quickly as possible, Foreign Minister Chrystia Freeland said on Saturday, amid signs of progress after months of delays. Canada’s Foreign Minister Chrystia Freeland attends a bilateral meeting with China’s Foreign Minister Wang Yi on the sidelines of the […]

BEIJING/SINGAPORE (Reuters) – China proposed retaliatory tariffs on $60 billion worth of U.S. goods ranging from liquefied natural gas (LNG) to some aircraft on Friday, as a senior Chinese diplomat cast doubt on prospects of talks with Washington to solve their bitter trade conflict. FILE PHOTO: Shipping containers, including one labelled “China Shipping,” are stacked […]