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Kraft withdraws offer to merge with Unilever

U.S. food company Kraft Heinz Co has agreed to withdraw its proposal for a $143-billion merger with larger rival Unilever Plc , the companies said on Sunday.

Recent Business News

Bank of Singapore to use Dubai as base to attract Middle East, Africa wealth

DUBAI The private banking arm of Singapore’s second-biggest lender OCBC is targeting annual growth of assets of more than 20 percent from its new office in Dubai, which it aims to use to attract wealthy clients from the Middle East and Africa, its chief executive told Reuters on Sunday.

8:24am EST

Ford sees big Russia gamble vindicated as sales finally turn corner

MOSCOW Ford has become the first major foreign carmaker in Russia to see sales grow after three bad years, potentially vindicating its decision to double down on a notoriously volatile market when rivals decided to cut and run.

9:55am EST

Freeport Indonesia CEO resigns after force majeure on copper exports

JAKARTA Chappy Hakim, chief executive of miner Freeport-McMoran Inc's Indonesian unit, has resigned, the company said on Saturday, after the parent firm declared force majeure on copper concentrate shipments from its Grasberg mine in Papua.

Feb 18 2017

Iran finds 2 billion barrels shale oil reserves in western province: agency

DUBAI Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

Feb 18 2017

China to suspend all imports of coal from North Korea

SHANGHAI China will suspend all imports of coal from North Korea starting Feb. 19, the country's commerce ministry said in a notice posted on its website on Saturday, as part of its efforts to implement United Nations sanctions against the country.

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