Reuters Asia - Squid Business

France to ban TikTok on work phones of civil servants -minister

PARIS (Reuters) -France will ban the use of Chinese-owned video-sharing app TikTok on the work phones of civil servants, Civil Service Minister Stanislas Guerini said on his Twitter account. “In order to guarantee the cybersecurity of our administrations and civil servants, the government has decided to ban recreational applications such as TikTok on the professional …

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Indian police open investigation into London embassy protest – media

NEW DELHI (Reuters) -Indian police have opened an investigation into a protest this week at its High Commission in London, Reuters partner ANI reported on Friday, pursuing action on an incident that has sparked tension in relations with Britain. Protesters with “Khalistan” banners took an Indian flag down from a first-floor balcony of the High …

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China to implement zero tariffs on coal imports to end-2023 -state media

BEIJING (Reuters) – China will extend some preferential tax policies and continue to implement zero tariffs on coal imports until the end of this year, state media CCTV reported on Friday, citing a cabinet meeting chaired by Premier Li Qiang on the same day. China cut tariffs on coal to zero in April last year …

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Thousands evacuated as fire hits warehouse in crowded Hong Kong district

By Jessie Pang HONG KONG (Reuters) – About 3,600 people were evacuated from buildings in Hong Kong’s crowded Kowloon district on Friday as firefighters battled a blaze in a warehouse. There were no reports of casualties and the fire was put out in the evening five hours after it began in what is one of …

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India’s LIC plans investment exposure caps post Adani share rout- sources

By Nikunj Ohri NEW DELHI (Reuters) – The Life Insurance Corp. of India (LIC) is planning to impose caps on its debt and equity exposure to companies, two sources said, in a bid to lower concentration of risk following criticism of its investment in Adani group companies. After the Adani group lost over $100 billion …

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Chinese smartphone maker Xiaomi’s revenue and profit slides

SHANGHAI (Reuters) -Chinese smartphone maker Xiaomi Corp on Friday reported a record drop in fourth-quarter revenue as the company weathered a slowdown in consumption and disruptions due to China’s COVID-19 curbs. Early signs suggest China’s economy will only rebound slowly, as consumers remain cautious about spending money despite an easing of restrictions on domestic and …

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Factbox-Legal troubles facing Indian opposition politicians

NEW DELHI (Reuters) – Indian Congress party lawmaker Rahul Gandhi, who was disqualified from parliament on Friday, joins a long list of opposition leaders who have called investigations against them political vendettas. Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) has denied allegations of political interference in the investigations and says the law is the …

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India’s Rahul Gandhi disqualified as lawmaker after conviction

NEW DELHI (Reuters) -India’s parliament disqualified opposition Congress party leader Rahul Gandhi as a lawmaker on Friday, a day after he was found guilty of defamation by a lower court. Following are some reactions from lawmakers and politicians: KANIMOZHI (eds: one name), MEMBER OF PARLIAMENT, DRAVIDA MUNNETRA KAZHAGAM PARTY “Disqualification of Mr. @RahulGandhi from the …

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Rupee erases weekly gains as banking worries come to fore

By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee reversed course to fall on Friday, erasing its weekly gains, as risk sentiment worsened on worries over the health of the financial sector in the United States and Europe. The rupee closed at 82.48 per dollar, as compared with Thursday’s close of 82.2625. The Indian currency …

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Indian shares fall for third week on STT hike on derivatives, banking concerns

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares extended losses for the third consecutive week as investors turned cautious after the government hiked securities transaction tax (STT) on futures and options contracts, while lingering concerns of contagion in the global banking sector weighed. The Nifty 50 index closed 0.77% lower at 16,945.05. The S&P BSE …

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