By Mimosa Spencer PARIS (Reuters) – The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs after three long years. Quarterly results from LVMH and Europe’s other luxury goods companies will …
Luxury giants bank on Chinese return as Western shoppers sober up Read More »
LAHORE (Reuters) – Mickey Arthur is set to return as Pakistan head coach, the chairman of the country’s cricket board Najam Sethi said on Monday. Former spinner Saqlain Mushtaq has decided against extending his coaching contracts with the Pakistan Cricket Board (PCB), according to media reports, and Sethi is keen to bring back Arthur. “I …
Cricket-Arthur set to return as Pakistan coach, says PCB chief Read More »
By Siddhi Nayak MUMBAI (Reuters) -State-run IDBI Bank Ltd expects to lower its gross bad loan ratio to single digits by the end of this year on strong loan recoveries, a senior executive said on Monday, after the bank reported a record third-quarter profit. IDBI Bank’s profit rose 60% to a 9.27 billion rupees ($113.84 …
India’s IDBI Bank expects gross bad loan ratio ease to single digits Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined against the U.S. currency on Monday, after climbing to a near two-month high at open on dollar purchases by public sector banks likely for the Reserve Bank of India (RBI), traders said. The rupee last traded at 81.39 to the dollar, down from 81.12 in …
Rupee reverses course after reaching two-mth high on RBI intervention Read More »
BENGALURU (Reuters) – Indian generic injectables maker Gland Pharma Ltd reported a lower-than-expected third-quarter profit on Monday, hurt by soft demand in its key markets and supply chain disruptions that led to production delays. The Hyderabad-based company said its consolidated net profit fell 15% to 2.32 billion rupees ($28.50 million) for the quarter ended Dec. …
India’s Gland Pharma misses Q3 profit view on supply chain issues Read More »
NEW DELHI (Reuters) – A five-member panel led by boxer MC Mary Kom will manage the daily running of the Wrestling Federation of India (WFI), which has been hit with sexual harassment allegations, India’s sports minister said on Monday. The country’s top wrestlers staged a sit-in protest in the capital New Delhi last week accusing …
Wrestling-Five-member panel to run India wrestling body amid harassment allegations Read More »
By Nick Carey COVENTRY, England (Reuters) – China’s Geely is planning a big investment to turn the maker of London’s iconic black taxis into a high-volume, all-electric brand with a range of commercial and passenger vehicles, executives at the unit told Reuters. London Electric Vehicle Company (LEVC) also aims to expand its suite of services, …
Exclusive-Geely plans to turn maker of London black cabs into EV powerhouse Read More »
(Reuters) – Annual inflation at 14-year highs in the Philippines will likely ease to below 4% by the third quarter and then 2% by early next year, as aggressive tightening and supply-side intervention take root, its central bank governor said on Monday. “We expect to be very successful in bringing down inflation,” Bangko Sentral ng …
Philippines to bring inflation below 4% by Q3 – cenbank chief Read More »
By Aftab Ahmed and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India is expected to slash the import duty on gold to undercut smugglers who have been offering hefty discounts as illicit imports boom after COVID-19, denting the market share of banks and refiners, government and industry officials told Reuters. A cut in the import duty …
India expected to cut gold import duty to sideline smugglers – sources Read More »
BENGALURU (Reuters) – Indian full-service carrier Vistara, a joint venture between Tata Sons and Singapore Airlines, on Monday reported a quarterly profit, its first since starting operations in January 2015, as air travel soared. The privately held airline said its revenue crossed $1 billion and it clocked a net profit, excluding foreign currency loss and …
India’s Vistara reports first-ever quarterly profit Read More »
