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Reuters could not immediately verify the report.
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CNA
23 minutes ago
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CNA938 Rewind - Dabao-ed for You: Local Flavours with a 7-Eleven Twist
In 'Made in SG', Melanie Oliveiro finds out more about convenience store 7-Eleven's new nostalgic tribute to the local dishes of Singapore by reimagining classic favourites into takeaway treats. Called 'Dabao Flavours of Singapore 2.0', 7-Eleven's MD Anushree Khosla and Product Development Manager Ken Yap will talk about how they teamed up with heritage brands like ANDES by ASTONS to bring about bites and dishes like: Chicken Laksa Linguine, Beef Meatball with Mushroom Sauce and Chicken Curry Rice. Desserts like MILO lava cake will also be discussed – and celebrated!
Business Times
an hour ago
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BOJ may paint less gloomy view, signal rate-hike resumption
[TOKYO] The Bank of Japan (BOJ) is set to hold off raising interest rates on Thursday (Jul 31) but may offer a less gloomy view on the outlook after Tokyo's trade agreement with the US last week, signalling rate hikes may resume later this year. Receding global trade tensions following Sunday's agreement between the US and the European Union add relief for BOJ policymakers on the outlook of Japan's export-heavy economy. But the BOJ is likely to warn of lingering uncertainty on how US tariffs affect business activity with the hit to exports seen intensifying later this year, analysts say. 'It's very big progress that reduces uncertainty for Japan's economy – but obviously, some uncertainty remains,' BOJ Deputy Governor Shinichi Uchida said last week on the Japan-US trade deal. Uchida noted questions around how soon Washington strikes trade deals with other countries, how the tariffs affect domestic and global economies and how long it could take for the tariffs' effects to be seen in hard data. At the two-day meeting ending on Thursday, the BOJ is widely expected to keep short-term interest rates steady at 0.5 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Markets are focusing on the bank's quarterly outlook report and Governor Kazuo Ueda's post-meeting news conference for clues on the timing of the next rate hike. A Reuters poll, taken before last week's Japan-US trade deal announcement, showed a majority of economists expect the BOJ to raise rates again by year-end. In the quarterly report, the BOJ is likely to revise up this fiscal year's inflation forecast due to persistent rises in rice and other food costs, sources have told Reuters. The BOJ may also tweak its current view that risks to the price outlook were skewed to the downside, and offer a less gloomy view on the economy compared with the current one focused on tariff-induced risks, according to separate sources. The board is likely to maintain its view that inflation will durably hit its 2 per cent target in the latter half of its three-year projection period running through fiscal 2027, they said. In current projections made on May 1, the BOJ projects core consumer inflation to hit 2.2 per cent in fiscal 2025, before slowing to 1.7 per cent in 2026 and 1.9 per cent in 2027. Japan struck a trade deal with President Donald Trump last week that lowers US tariffs for imports of goods, including its mainstay automobiles, easing the pain for the export-reliant economy and clearing a key hurdle for further BOJ rate hikes. The positive development contrasts with the gloom that surrounded the economy on May 1, when the BOJ produced its current estimates amid heightened market volatility caused by Trump's April announcement of sweeping 'reciprocal' tariffs. The BOJ exited a decade-long, massive stimulus last year and raised its short-term policy rate to 0.5 per cent in January on the view that Japan was progressing towards durably achieving its price goal. With rising food costs hurting households and keeping inflation above its 2 per cent target for three years, some hawkish board members have highlighted mounting price pressures that could justify resuming rate hikes. REUTERS
Business Times
an hour ago
- Business Times
Heineken beer sales fall as price dispute took longer to resolve
[BERLIN] Heineken saw a decline in beer volumes, as retailer disputes across Europe dragged on sales and limited its ability to take advantage of the summer heat wave. The Dutch brewer reported a 0.4 per cent fall in volumes during the second quarter, worse than analyst estimates. The main driver was Western Europe, where Heineken faced disputes with regional buying groups over price negotiations that lasted longer into the second quarter than the company anticipated. The extended negotiations in France, the Netherlands and Spain were now resolved, Heineken said in a statement on Monday (Jul 28), adding that France saw a 'strong recovery' in June as a result. It maintained operating profit guidance of between 4-8 per cent for the full year. Heineken expects consumer spending to be weakened in Europe and the Americas this year by inflation pressures and a decline in the US dollar. It now wants to save 500 million euros (S$750.8 million) in 2025, more than previously announced, to offset the lower volumes. In the US, beer volumes fell as the industry grapples with a downturn in spending including among Hispanic consumers. Organic operating profit grew 7.4 per cent in the first half of the year, boosted by expansion in Vietnam, India and China. BLOOMBERG