BENGALURU (Reuters) – India’s DCM Shriram Ltd reported a 53.5% fall in its fourth-quarter profit on Tuesday, hurt by a rise in raw material and power costs. The company’s consolidated net profit fell to 1.87 billion rupees ($22.8 million) compared to 4.01 billion rupees a year ago. Revenue from operations also fell marginally to 28.49 …
India’s DCM Shriram posts 54% fall in Q4 profit as costs surge Read More »
NEW DELHI (Reuters) – Hindustan Zinc Ltd’s proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner did not get shareholders’ approval within the stipulated time limit, said two government sources. The deal was announced in mid-January, after which Hindustan Zinc had three months to …
Indian miner Hindustan Zinc’s all-cash bid for Vedanta’s assets lapses – sources Read More »
(Reuters) – Cash-strapped Indian airline Go First Airways filed for voluntary insolvency resolution proceedings in the National Company Law Tribunal on Tuesday. Following are some details on the budget carrier: Go First was incorporated in April 2004 as GoAir and commenced flight operations in November the following year. Its inaugural flight was from Mumbai to …
Factbox-India’s Go First seeks insolvency resolution as engine trouble grounds fleet Read More »
BENGALURU (Reuters) – Indian airline Go First Airways said on Tuesday it was filing for insolvency resolution and can no longer continue to meet financial obligations, blaming U.S. company Pratt & Whitney’s “faulty engines” for grounding of 50% of its fleet. Pratt & Whitney did not immediately respond to a request for comment. Following are …
India’s Go First Airways files for insolvency resolution Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India, backed by China, is trying to build a consensus within the G20 group to let countries choose a roadmap to cut carbon emissions instead of setting a deadline to end the use of fossil fuels, three Indian government officials said. India, the current G20 president, is …
(Reuters) – Tesla Inc was the biggest loser among top companies by market capitalisation in April, hit by disappointing quarterly earnings after it posted the lowest quarterly gross margin in two years. Tesla’s market cap dropped to $520.7 billion at the end of April from $657.5 billion in March, a 20.8% decline, pushing it to …
Global companies by market cap: Tesla fell most in April Read More »
By Leika Kihara INCHEON, South Korea (Reuters) – Bank of Japan Governor Kazuo Ueda said on Tuesday the downside risks to Asia’s economy were smaller than those to other parts of the world, partly due to the region’s resilience to U.S. and European banking sector woes. His remarks underscore optimism over the outlook for Asia’s …
BOJ chief upbeat on Asia’s economy, points to bank resilience Read More »
ALMATY (Reuters) -A fire broke out on Monday at a gas processing plant on the Zhanazhol gas condensate field in Kazakhstan, local authorities and the company developing the field said on Tuesday. Four workers have been hospitalised with heavy burns at the facility run by Kazakh-Chinese joint venture CNPC Aktobemunaigas, the Aktobe regional government said, …
Fire breaks out at gas processing plant in Kazakhstan Read More »
(Reuters) – India’s Ambuja Cements on Tuesday reported a better-than-expected fourth-quarter profit, aided by increased government spending on infrastructure and lower raw material costs. Cement makers have seen prices of key raw materials such as coal and petcoke drop in recent months, analysts say. Ambuja’s profit after tax for the quarter ended March 31 rose …
India’s Adani-owned Ambuja Cements’ Q4 profit rises as infra spending steps up Read More »
By Renju Jose SYDNEY (Reuters) -Australia said on Tuesday it will ban recreational vaping and tighten other aspects of e-cigarette laws in the biggest crackdown on the tobacco industry in more than a decade to try to stop an alarming rise in teenage vaping. The government aims to ban all disposable vapes, which often comes …
Australia to ban recreational vaping in e-cigarette crackdown Read More »
