BENGALURU (Reuters) -Indian private lender Axis Bank Ltd on Monday reported a stronger-than-expected 62% jump in quarterly profit, as a surge in interest income outpaced a rise in provisions for bad loans. Demand for credit has rebounded from the pandemic lows and boosted loan growth at banks, with consumers and businesses stepping up spending as …
India’s Axis Bank profit beats view on strong interest income Read More »
By Alex Lawler, Stephanie Kelly and Muyu Xu LONDON/NEW YORK/SINGAPORE (Reuters) – Crude oil prices in much of the world’s physical markets have started the year with a rally amid signs of more buying from China after it eased COVID-19 restrictions and concern that sanctions on Russia could tighten supply. China, the world’s biggest crude …
Physical oil market starts year with a rally on China demand, Russia sanctions Read More »
By Seher Dareen and Rahul Paswan (Reuters) – India’s crude oil imports rose to a five-month high in December, government data showed on Monday, as refiners stocked up discounted Russian fuel amid a steady increase in consumption in the country. Crude imports for the month were up 2.7% from November at 19.52 million tonnes, according …
India’s crude imports hit 5-month high in December on cheap Russian supply Read More »
CHENNAI/BENGALURU (Reuters) – India’s Shoppers Stop reported a 24% jump in quarterly profit on Monday, as the department store operator benefited from festive season sales and a pick up in demand for luxury products. Wealthier shoppers have largely shrugged off the inflation squeeze to splurge on clothing and accessories as they returned to pre-pandemic lifestyles …
Shoppers Stop Q3 profit jumps 24% on festive demand Read More »
By Kwang Jiraporn Kuhakan PHUKET, Thailand (Reuters) – Entrepreneurs on Thailand’s holiday island of Phuket are bracing enthusiastically for the long-awaited return of Chinese tourists, hoping China’s reopening and dismantling of its strict COVID-19 curbs can boost their flagging businesses. In the year before the pandemic, nearly a third of Thailand’s visitors were Chinese tourists, …
Excitement for beach businesses as Thailand braces for Chinese deluge Read More »
By Sudarshan Varadhan SINGAPORE (Reuters) – Millions of Pakistanis were left without electricity for the second time in three months after a grid failure on Monday, affecting nearly all parts of the country – from the capital Islamabad in the north to Karachi in the south. Here’s a look at what happened, and the immediate …
Factbox-Why were millions of Pakistanis without electricity? Read More »
TAIPEI (Reuters) – Taiwan President Tsai Ing-wen has written to Pope Francis to say that war between Taiwan and China is not an option and only by respecting the Taiwanese people’s insistence on sovereignty and freedom can there be healthy ties with Beijing. The Vatican is Chinese-claimed Taiwan’s sole European diplomatic ally, and Taipei has …
Taiwan president tells pope war with China not an option Read More »
BENGALURU (Reuters) – India’s Jindal Stainless reported a 28% drop in quarterly net profit on Monday, as steel exports continued to reel from the impact of a government levy that was withdrawn recently. Consolidated net profit for the stainless steel maker fell to 3.14 billion rupees ($38.58 million) for the third quarter ended Dec. 31 …
India’s Jindal Stainless profit falls 28% on lower exports Read More »
By Pablo Mayo Cerqueiro and Toby Sterling LONDON/AMSTERDAM(Reuters) – Dutch insurer ASR will consider a sale of its banking arm after completing its acquisition of rival Aegon’s domestic operations, a source close to the matter told Reuters. ASR anounced in October that it would buy the bulk of Aegon’s business in the Netherlands, including its …
Insurer ASR to consider sale of bank acquired in Aegon deal, source says Read More »
By Gibran Naiyyar Peshimam KARACHI (Reuters) – Pakistan’s central bank on Monday raised its key interest rate by 100 basis points to 17% in a bid to rein in persistently high inflation, and it said achieving price stability was key to attaining sustainable economic growth in the future. The increase, which matched the majority forecast …
Pakistan cenbank raises key rate to rein in high inflation Read More »
