Indonesia is prepared to widen its ban on exports of refined palm olein if it faces domestic shortages of derivatives used in the production of cooking oil, according to details presented at a meeting between government and industry officials.

The European Central Bank should raise interest rates soon and has room for up to three hikes this year, ECB policymaker Martins Kazaks told Reuters, joining a chorus of policymakers calling for a swift exit from stimulus.

MADRID (Reuters) -Spain's Santander said on Tuesday its net profit in the first quarter beat forecasts, rising 58% on the same period a year earlier thanks to higher revenues and efficiency gains in Europe.

ZURICH (Reuters) -UBS's first-quarter net profit rose 17% on Tuesday to its best since 2007 on the back of strong trading, upending expectations for a fall amidst uncertainties over the war in Ukraine. Net profit for the March quarter of $2.136 billion outpaced average expectations for $1.79 billion in a poll of 21 analysts compiled by the Swiss bank.

(Reuters) -Novartis said on Tuesday its core operating income rose 3% in the first quarter as sales growth from new drugs offset unfavourable currency effects, but fell short of analyst estimates.

Oil prices bounced on Tuesday, steadying after a sharp fall of 4% in the previous session as worries over China's fuel demand were soothed by the central bank's pledge to support an economy hit by renewed COVID-19 curbs.