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Rising crude, freight costs to curb Asian oil refiners' profits

SINGAPORE/SEOUL, Oct 22 (Reuters): Equity analysts have cut their earnings forecasts for Asia's oil refiners as a surge in oil tanker freight rates and crude premiums offset an expected boost in refining margins.With an outlook for slumping profits amid squeezed margins, shares of top Asians refiners such as China Petroleum...

Etihad, Saudia announce 12 new code-shares

ABU DHABI, Oct 22 (Gulf News): Etihad Airways and Saudia have announced 12 new code-share routes in Asia and Europe.Under the deal announced today, and subject to regulatory approvals, Saudia will progressively add its code to Etihad flights between Abu Dhabi and 11 more destinations in nine countries Amsterdam, Baku,...

China's 2019 coal imports set to rise more than 10pc: Analysts

BEIJING/MELBOURNE, Oct 22 (Reuters): China, the world's top coal buyer, is on track to boost imports of the fuel by more than 10 per cent this year, traders and analysts said on Tuesday, countering earlier expectations that shipments would be capped by Beijing at the same level as 2018.China's coal...

KL warns new EU rules could hurt palm oil used in food

KUALA LUMPUR, Oct 22 (Reuters): Malaysia, the world's second largest producer and exporter of palm oil, warned on Tuesday against new European Union (EU) rules that could hurt demand for a commodity used in foods from snacks to chocolate spread, threatening a $60-billion industry.Palm oil is used in everything from...

Gold firms on Brexit jitters

BENGALURU, Oct 22 (Reuters): Gold prices inched higher on Tuesday ahead of a crucial vote by British lawmakers on the Brexit withdrawal agreement, although prospects for a US-China trade deal limited bullion's gains.Spot gold was up 0.2 per cent at $1,487.63 per ounce as of 1042 GMT, having hit a...

Coca-Cola reports higher profits

NEW YORK, Oct 20 (AFP): Coca-Cola reported higher third-quarter profits Friday, citing solid sales of soda and innovative products like smaller drink cans that offset the hit from a strong dollar.The beverage giant lifted full year profit and sales targets, and Chief Executive James Quincey said strategies "are taking hold...