Reuters Asia

China passes guidance for supporting private sector – state media

BEIJING (Reuters) – China’s ruling Communist Party has passed guidance for promoting the development of private firms, state media said on Friday, signalling more steps to reinvigorate a sector hurt by a round of regulatory curbs. China will optimise the development environment for the private sector and will remove institutional barriers that prevent firms from …

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Indian carrier Reliance Jio’s profit, rev growth hit five-qtr low

BENGALURU (Reuters) -Reliance Jio Infocomm Ltd, the telecom arm of Indian billionaire Mukesh Ambani’s Reliance Industries Ltd, reported its slowest profit and revenue growth in five quarters on Friday, due to higher expenses and lack of recent tariff hikes. Jio, India’s biggest telecom carrier by subscribers, said net profit rose 13% to 47.16 billion rupees …

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India court rejects Xiaomi’s challenge to $676 million asset freeze -sources

By Aditya Kalra NEW DELHI (Reuters) -An Indian court has rejected Chinese phonemaker Xiaomi Corp’s petition against the seizure of 55.51 billion rupees ($676 million), two sources familiar with the matter told Reuters on Friday. Xiaomi’s assets in India were frozen last year by the federal financial crime agency which alleged the company had made …

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India cenbank gives HDFC Bank selective regulatory relief post HDFC merger

MUMBAI (Reuters) -The Reserve Bank of India (RBI) has allowed HDFC Bank Ltd and Housing Development Finance Corp Ltd (HDFC) selective regulatory relief to smooth out the merger between the two organisations, set to conclude by July this year. The central bank has permitted the bank to meet priority sector lending requirements in a staggered …

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Indian shares log weekly losses on risk aversion amid Q4 earnings

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares were subdued on Friday, snapping a three-week winning streak, as investors remained cautious after a weak outlook from HCLTech Ltd and ahead of the quarterly earnings of Reliance Industries Ltd, the country’s top firm by market capitalisation. The Nifty 50 closed 0.40 points lower to 17,624.05, while …

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Magnitude 6.0 earthquake strikes northern Molucca Sea region – GFZ

(Reuters) – A magnitude 6.0 earthquake struck in the northern Molucca Sea region near Indonesia on Friday, the German Research Centre for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.2 miles), GFZ said. (Reporting by Anusha S; editing by John Stonestreet)

India’s Hindustan Zinc Q4 profit falls 12% on weaker zinc, lead prices

BENGALURU (Reuters) – Indian miner Hindustan Zinc Ltd on Friday reported a nearly 12% fall in March quarter profit, hurt mainly by lower zinc and lead prices and higher expenses. Consolidated net profit fell to 25.83 billion rupees ($314.68 million) in the fourth quarter from 29.28 billion rupees a year earlier. Zinc prices are down …

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Factbox-Who is running for president in Indonesia’s 2024 election?

JAKARTA (Reuters) – Indonesia is set to hold a presidential election in February next year, with three men so far vying for the top job in the world’s third-largest democracy and its most populous Muslim-majority country. Here are details of the candidates announced so far: PRABOWO SUBIANTO This will be the former special forces commander’s …

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