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Lufthansa profit warning spooks European airline sector

FRANKFURT: Germany’s Lufthansa sent shockwaves through the European airline sector yesterday as it cut its full-year profit forecast, with lower prices and higher fuel costs compounding the effect of losses at its budget subsidiary Eurowings.

S’pore monetary easing bets up on gloomy exports

SINGAPORE: Singapore’s non-oil domestic exports (NODX) declined the most in more than three years in May due to a slump in shipments to China, data showed, prompting economists to raise bets on the prospect of monetary easing later this year.

Oil price rises on tensions after Middle East tanker attacks

TOKYO: Oil prices rose on Monday after U.S. Secretary of State Mike Pompeo said Washington will take all actions necessary to guarantee safe navigation in the Middle East, as tensions mounted following attacks on tankers last week.

Brent futures rose 27 cents, 0.4% to $62.28 a barrel by 0040 GMT. They rose 1.1% on Friday.  U.S. West Texas Intermediate (WTI) crude futures were up 18 cents, or 0.4%, at $52.69 a barrel. They rose 0.4% in the previous session.

Can-One to use proceeds from F&B sale to pare down borrowings

KUALA LUMPUR: Can-One Bhd plans to use proceeds from the sale of F&B Nutrition Sdn Bhd to pare down its debts especially bank borrowings taken to privatize Kian Joo Can Factory Bhd (KJCFB).
It said on Monday the proposed disposal would allow the group to achieve two main corporate objectives, namely: