Reuters Asia - Squid Business

Exclusive-Thermo Fisher, Celltrion vie for Baxter’s biopharma unit -sources

By Anirban Sen and David Carnevali (Reuters) -U.S. scientific instruments maker Thermo Fisher Scientific Inc and South Korea’s Celltrion Inc are among those competing to acquire the biopharma solutions business of medical device maker Baxter International Inc, according to people familiar with the matter. The divestment, which the sources said could fetch more than $4 …

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Bank stocks gain as markets digest Credit Suisse rescue

By Koh Gui Qing and Marc Jones NEW YORK/LONDON (Reuters) – Bank stocks rallied on Monday and a cross-asset scramble for safety abated, as investors heaved a tentative sigh of relief that a historic weekend rescue of financial heavyweight Credit Suisse is containing the banking crisis for now. Sunday saw the most dramatic state intervention …

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South Korea producer inflation eases in Feb for eighth month in a row

SEOUL (Reuters) – South Korea’s producer price inflation softened in February for an eighth straight month to stand at its lowest level in nearly two years, central bank data showed on Tuesday. The producer price index stood 4.8% higher in February than a year earlier, easing from 5.1% in January and marking the slowest annual …

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‘Climate time bomb ticking’, emissions must urgently be cut -UN chief

By David Stanway (Reuters) -U.N. Secretary General Antonio Guterres warned that the “climate time bomb is ticking” as he urged rich nations on Monday to slash emissions sooner after a new assessment from scientists said there was little time to lose in tackling climate change. “The rate of temperature rise in the last half century …

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Gold drops from 1-year peak as banking fragility drives wild swings

By Seher Dareen (Reuters) – Gold prices retreated from their highest level in a year in volatile trading on Monday, as share markets and Treasury yields bounced back on central banks’ efforts to shore up confidence in the financial sector. Spot gold dipped 0.5% to $1,977.18 per ounce by 1:57 p.m. EDT (1757 GMT), after …

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France’s OVH expands into India amid growing cloud adoption

By Olivier Sorgho (Reuters) – French software firm OVHcloud has launched its first data centre in India as it expands in the Asia-Pacific region aiming to capitalise on growing cloud adoption amid heightened concerns over data privacy, it said on Monday. The new data centre in Mumbai will provide Indian businesses with local computer and …

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Air India seeks lessor jet delivery financing after record order

By Tim Hepher and Aditi Shah NEW DELHI (Reuters) – Air India has kicked off financing for a plane order worth tens of billions of dollars by asking leasing companies to submit proposals for sale-leaseback deals, the airline said on Monday as industry executives play down the impact of recent banking-sector turmoil on aviation. Aircraft …

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India’s strong corporate debt profile key to macroeconomic stability – fin min

NEW DELHI (Reuters) – The strong debt profile of Indian corporates will be a major factor in maintaining the Asian nation’s macroeconomic stability, the country’s finance ministry said in a monthly report on Monday. “Tightening of financial conditions by central banks to tame inflation has raised concerns regarding the exacerbation of corporate debt vulnerabilities, with …

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Indonesia’s GoTo posts narrower Q4 2022 adjusted EBITDA loss to $201.9 million

JAKARTA (Reuters) -Indonesia’s biggest tech firm PT GoTo Gojek Tokopedia Tbk posted a narrower adjusted EBITDA loss for the fourth quarter of 2022 of 3.1 trillion rupiah ($201.89 million), the firm said on Monday. GoTo posted 6.5 trillion rupiah in adjusted EBITDA (earnings before interest, tax, depreciation, amortisation and rent) loss in the same period …

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Europe’s hopes for busy post-COVID summer dim as Chinese tourists stay away

By John Revill, Rachel More and Joanna Plucinska ZURICH/BERLIN/LONDON (Reuters) – Urs Kessler, who runs Jungfrau Railways, a train that takes tourists up the highest mountain in Switzerland, was excited for the return of Chinese tourists after COVID-19 restrictions were lifted late last year. But barring one small group in February and a few larger …

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