By Ananya Mariam Rajesh (Reuters) -Estee Lauder Cos Inc’s shares plunged on Wednesday after the cosmetics maker forecast a bigger drop in full-year sales and profit than previously estimated, blaming a slow recovery in demand at duty-free and travel destinations, especially in Asia.   Shares of the company fell as much as 22% to hit a six-month …
Estee Lauder sinks after dour 2023 view on slow recovery in Asia Read More »
(Reuters) -Taiwan Semiconductor Manufacturing Co is in talks with partners to invest as much as 10 billion euros ($11.04 billion) to build a chip fabrication plant in Germany, Bloomberg News reported on Wednesday, citing people familiar with the matter. The venture between TSMC, NXP Semiconductors NV, Robert Bosch GmbH and Infineon Technologies AG will have …
By Karen Lema (Reuters) – The United States stands with treaty ally the Philippines in the face of harassment by China’s coast guard in the South China Sea and remains deeply concerned about “intimidation” by Beijing, a senior U.S. official said on Tuesday. A visit to the United States this week by Philippine President Ferdinand …
US stands with Philippines against Chinese ‘intimidation’ in S. China Sea – official Read More »
TOKYO (Reuters) -NATO is planning to open a liaison office in Japan, its first in Asia, to facilitate consultations in the region, the Nikkei Asia reported on Wednesday, citing Japanese and NATO officials. The liaison office will enable discussions with NATO’s security partners, such as South Korea, Australia and New Zealand, with geopolitical challenges from …
NATO to open Japan office to enable Indo-Pacific consultation – report Read More »
By America Hernandez PARIS (Reuters) – France and Japan have signed a nuclear cooperation agreement in Paris, the French ministry said on Wednesday. The joint declaration pledges to deepen and accelerate ties in the research and development of next-generation nuclear such as sodium-cooled fast reactors. Work will continue on the safe life extension of existing …
By Nidhi Verma NEW DELHI (Reuters) – India’s top gas importer Petronet LNG expects a ‘huge jump’ in local gas demand for at least six months due to a softening of global prices of liquefied natural gas (LNG), its chief executive A. K. Singh said on Wednesday. Indian gas demand is already showing signs of …
India’s top gas importer sees ‘huge jump’ in demand as prices ease Read More »
BENGALURU (Reuters) – ABB India on Wednesday reported a 66% surge in first-quarter pre-tax profit, as order wins at the technology firm surged on strong demand for its mainstay electrification and automation businesses. ABB India, a unit of ABB Ltd, reported pre-tax profit, before exceptional items, of 3.28 billion rupees ($40.12 million) for the three …
ABB India’s Q1 pre-tax profit surges 66% on strong order wins Read More »
By Nidhi Verma and Siddhi Nayak NEW DELHI (Reuters) – Indian Oil Corp will recoup $61.14 million of jet fuel sales to cash-strapped Go First by cashing in bank guarantees and is optimistic it will recover a further $6.11 million for unsecured sales made in the past few months, sources said. IOC, the country’s largest …
Indian Oil to recoup most dues from Go First through bank guarantees – sources Read More »
By Tanvi Mehta, Dhanya Skariachan and Chris Thomas BENGALURU (Reuters) – The owner of Go Airlines (India) has no plans to exit the budget carrier after engine troubles forced it into bankruptcy, the airline’s CEO told Reuters on Wednesday, as frustrated flyers complained of abrupt flight cancellations. India’s third-largest airline, which recently rebranded as Go First, …
India’s Go First touts owner, govt backing after bankruptcy filing Read More »
HANOI (Reuters) – Vietnam’s central bank is planning to restructure four poorly-performing commercial banks, including via forced takeovers, state media reported on Wednesday, as the country strives to strengthen its banking system. The four banks are DongA Bank, Vietnam Construction Bank, Ocean Bank and Global Petro Bank, Vietnam News Agency reported, citing unidentified central bank …
Vietnam’s central bank plans to restructure four weak commercial banks – media Read More »
