Reuters Asia

Pepsi bottler Varun Beverages posts Q1 profit jump; announces stock split

BENGALURU/CHENNAI (Reuters) – India-based Pepsi bottler Varun Beverages on Tuesday reported an about 69% jump in quarterly profit on price increases and steady demand, and said it would split each of its existing shares into two. The company reported a consolidated net profit of 4.29 billion rupees ($52.46 million) for the first quarter ended March …

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World’s apparel, sneakers hub Vietnam struggles as US ban on Xinjiang cotton bites

(This April 27 story has been corrected to clarify that the statement is attributed to FMC commissioner, not the Commission, in paragraph 15) By Francesco Guarascio and Khanh Vu HANOI (Reuters) – Tighter U.S. rules to ban imports from China’s Xinjiang are compounding pressure on Vietnam’s apparel and footwear makers, hitting a sector that has …

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Bank of Korea’s Rhee says ‘little bit premature’ for policy pivot – CNBC

INCHEON, South Korea (Reuters) -South Korea’s central bank chief welcomed an easing in inflation but said it was “a little bit premature” to suggest it will start to cut rates as early as this year given that inflation is still above its policy target. Bank of Korea Governor Rhee Chang-yong also said during an interview …

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Indonesia economy likely grew 4.95% on year in Q1, contracted vs quarter: Reuters poll

By Sujith Pai BENGALURU (Reuters) – Indonesian annual economic growth likely slowed to its weakest in more than a year in January-March and shrank on a quarterly basis as lower commodity prices hit exports and higher interest rates restricted domestic demand, a Reuters poll found. Southeast Asia’s largest economy grew 4.95% in the first quarter …

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India’s Go First Airways owes financial creditors $798 million – filing

By Arpan Chaturvedi MUMBAI (Reuters) -Indian airline Go First, which filed for bankruptcy on Tuesday, owes financial creditors 65.21 billion Indian rupees ($798 million), its bankruptcy filing showed. As of April 30, Go First Air had not defaulted on any of these dues, it said in the filing, which was seen by Reuters. “However, considering …

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Group of EU states seeks to reduce dependency on China for pharmaceuticals

By Julia Payne BRUSSELS (Reuters) – A group of 19 European Union member states are pushing for measures to reduce the bloc’s dependency on Chinese imports of pharmaceutical ingredients, a paper dated May 2 showed. The move comes a week after the European Commission proposed an overhaul of the legislation governing its 136 billion euro …

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