Reuters Asia - Squid Business

India’s P&G Hygiene and Health Care posts drop in Q3 sales on muted demand

BENGALURU (Reuters) – India’s Procter & Gamble Hygiene and Health Care Ltd reported a dip in quarterly sales on Wednesday, as a pandemic-driven demand for healthcare products waned with new COVID cases dropping across the country. The company said sale of its products, ranging from Vicks inhaler to Whisper sanitary napkin, fell about 1% to …

India’s P&G Hygiene and Health Care posts drop in Q3 sales on muted demand Read More »

India’s Dr Reddy’s Labs posts 11-fold jump in Q4 profit

BENGALURU (Reuters) – Indian drugmaker Dr Reddy’s Laboratories Ltd reported nearly an eleven-fold surge in fourth-quarter profit on Wednesday, driven by higher sales from its mainstay generic drugs business in North America. The Hyderabad-based company’s consolidated profit rose to 9.59 billion rupees in the three months ended March 31, compared with 875 million rupees a …

India’s Dr Reddy’s Labs posts 11-fold jump in Q4 profit Read More »

India’s Larsen & Toubro beats Q4 profit view on higher project execution

BENGALURU (Reuters) -Indian engineering and construction company Larsen & Toubro Ltd reported a bigger-than-expected rise in fourth-quarter profit on Wednesday as project executions rose amid robust order inflow. L&T’s consolidated net profit rose 10.1% to 39.87 billion rupees ($487.5 million) in the quarter ended March 31 from a year earlier. Analysts, on average, had expected …

India’s Larsen & Toubro beats Q4 profit view on higher project execution Read More »

India’s rural consumer goods consumption back to growth in Q1 -NielsenIQ

CHENNAI (Reuters) – The consumption of consumer goods in rural India returned to growth after more than a year in the March quarter and is expected to grow for the rest of the year, market analytics firm NielsenIQ said, as inflation and price hikes eased. The increase in product prices slowed to 6.9% from January …

India’s rural consumer goods consumption back to growth in Q1 -NielsenIQ Read More »

Hong Kong interbank rates jump, pull HKD off band extreme

By Tom Westbrook SINGAPORE (Reuters) -Hong Kong interbank rates jumped on Wednesday as a further decline in banking system cash balances spurred expectations of tightening monetary settings and to an unwinding of short positions in the pegged Hong Kong dollar. The overnight Hong Kong Interbank Offered Rate shot up nearly 92 basis points to 4.4381%, …

Hong Kong interbank rates jump, pull HKD off band extreme Read More »

UAE’s ADNOC says ‘business as usual’ in Asia

By Maha El Dahan and Yousef Saba ABU DHABI (Reuters) – Abu Dhabi National Oil Company (ADNOC) sees no dip in demand from Asian customers as cheap Russian oil flows into the continent on the back of Western sanctions on Moscow, a senior executive said on Wednesday. “To me it is business as usual,” Mussabeh …

UAE’s ADNOC says ‘business as usual’ in Asia Read More »

Australia exports first copper to China since 2020, industry hopes end to ban near

By Lewis Jackson, Siyi Liu and Melanie Burton SYDNEY (Reuters) – Australia exported roughly $40 million worth of copper ore and concentrate to China early this year, Australian customs data shows, a sign of industry hope that trade in the red metal will resume as diplomatic relations improve. Australian trade data shows exports worth A$60.5 …

Australia exports first copper to China since 2020, industry hopes end to ban near Read More »

Factbox-Who are the main contenders for Thailand’s next leader?

BANGKOK (Reuters) – Thailand’s political parties have nominated prime ministerial candidates ahead of a May 14 election, which will showcase a long-running battle between the billionaire Shinawatra family and parties backed by a conservative pro-military establishment. Below are key contenders for the next premier, which should be decided by August in a vote by the …

Factbox-Who are the main contenders for Thailand’s next leader? Read More »

Cisco to manufacture from India in diversification move

NEW DELHI (Reuters) – U.S. tech giant Cisco Systems will set up a manufacturing facility in India as it aims to diversify its global supply chain, Chief Executive Officer Chuck Robbins said on Wednesday. Cisco, which sells a range of networking equipment and software to connect devices to the internet, in next years is targeting …

Cisco to manufacture from India in diversification move Read More »

Panasonic sees record profit on robust battery demand, U.S. tax credit

TOKYO (Reuters) -Japan’s Panasonic Holdings Corp on Wednesday said it expects net profit to rise to a record high this year on robust auto battery sales and a hefty tax credit in the United States. The industrial conglomerate, which supplies batteries to U.S. electric vehicle (EV) leader Tesla Inc, is expanding its energy business just …

Panasonic sees record profit on robust battery demand, U.S. tax credit Read More »