Reuters Asia

Ethnic tensions in India’s northeast forces evacuation of thousands to guarded camps

By Zarir Hussain GUWAHATI,India (Reuters) -Authorities in India’s northeastern state of Manipur have evacuated some 20,000 people to camps under army protection to prevent escalation of ethnic violence just days after clashes between tribal and non-tribal groups. There have been incidents of looting and arson in parts of the remote state bordering Myanmar in recent …

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China vows to build modern industries to win ‘strategic initiative’

BEIJING (Reuters) -China’s leaders pledged on Friday to build a modern industrial system and achieve technological breakthroughs, in an international race to win the “strategic initiative” amid tensions with the United States. China will prioritise the real economy, improve its industrial policies, and build world-class enterprises, state media quoted the Central Financial and Economic Affairs …

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India’s Blue Dart Express posts 49% drop in Q4 profit on higher expenses

BENGALURU (Reuters) – Indian logistics services provider Blue Dart Express Ltd reported a drop in profit for the second quarter in a row on Friday on continued pressure from higher expenses. The Deutsche Post-controlled company’s consolidated net profit fell over 49% to 694.4 million rupees ($8.5 million) in the fourth quarter. Blue Dart’s revenue rose …

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India agency searches Jet Airways’ premises in $66 million fraud case – source

BENGALURU (Reuters) – India’s federal investigating agency is searching the premises of Jet Airways and the residence of founder Naresh Goyal in Mumbai as part of a probe into a 5.39 billion rupee ($66 million) bank fraud case, a Central Bureau of Investigation (CBI) source said on Friday. The searches came days after Canara Bank …

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India’s Britannia Q4 profit jumps nearly 50% on strong demand

BENGALURU (Reuters) -Indian bread and biscuits maker Britannia Industries Ltd on Friday reported a bigger-than-expected 47% jump in quarterly profit as strong demand and past price hikes helped expand margins. Consumer goods companies globally hiked prices of products or reduced quantities to offset cost inflation and protect their earnings margins. Britannia, which sells the Marie …

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India’s Marico posts 20% jump in Q4 profit on rural demand, easing inflation

CHENNAI/BENGALURU (Reuters) – Marico Ltd, home to popular brands Parachute and Saffola, reported a more than 20% jump in quarterly profit, helped by a recovery in rural demand and easing inflation. Consumer goods makers have been winding down price hikes in recent months in line with easing commodity costs, encouraging people to buy more branded …

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