Reuters Asia - Squid Business

Philippines, U.S. in talks to resume ‘2-plus-2 meeting’ as relations thaw

By Neil Jerome Morales and Karen Lema MANILA (Reuters) – The United States and Philippines on Friday pledged to hold “2-plus-2” meetings of their top officials after a seven-year halt, underlining moves to restore ties strained by former Philippine President Rodrigo Duterte’s anti-U.S. stance. The two countries held a security dialogue on Friday and agreed …

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Despite India’s economic growth, few jobs and meagre pay for urban youth

By Manoj Kumar FARIDABAD, India (Reuters) – Ravi Verma, hired by an electrical parts manufacturing firm early last year as India’s economy surged, was fired in November when the company lost several export orders. He has since remained unemployed, unable to pay back a 100,000 rupee ($1,224) loan he took to buy a two-wheeler scooter. …

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Google vows to cooperate with India antitrust watchdog after Android ruling

By Aditya Kalra NEW DELHI (Reuters) -Google said on Friday it will cooperate with India’s competition authority after the Supreme Court upheld stringent antitrust directives forcing the U.S. firm to change how it markets its popular Android platform in a key growth market. The Competition Commission of India (CCI) ruled in October that Google, owned …

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“Ironclad” U.S.-Philippines alliance important to regional stability – U.S. official

MANILA (Reuters) – An “ironclad” alliance between the Philippines and United States has helped ensure peace and stability in the Indo-Pacific, and Washington is committed to its obligations to Manila under a mutual defence treaty, a top U.S. official said on Friday. Daniel Kritenbrink, Assistant Secretary of State for East Asian and Pacific Affairs, was …

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China reopening will add to global inflationary pressures, ECB’s Lagarde says

DAVOS (Reuters) – China’s reopening after debilitating pandemic restrictions is likely to add to global inflationary pressures as the world’s second-largest economy ramps up commodity consumption, European Central Bank (ECB) President Christine Lagarde said on Friday. “There will be constraints, there will be more inflationary pressure coming out of that added demand in commodities and …

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Indian shares end lower; global growth concerns, weak earnings weigh

BENGALURU (Reuters) -Indian shares fell on Friday as traders parsed through key corporate earnings amidst concerns of a global economic slowdown, but held on to weekly gains on a rise in financial stocks. The Nifty 50 index closed 0.44% lower at 18,027.65, while the S&P BSE Sensex fell 0.39% to 60,621.77. “Hawkish comments from global …

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India’s HDFC Life reports 15% jump in Q3 profit as premiums climb

BENGALURU (Reuters) – HDFC Life Insurance Co reported a 15% rise in third-quarter profit on Friday, driven by higher income from premiums and its investments and said it expects to sell more policies in the next few quarters. “Insurance as a sector continues to be a beneficiary of a relatively robust economy, stable savings trends …

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Exclusive-ValueAct calls for Seven & i to spin off 7-Eleven retail chain

By Svea Herbst-Bayliss NEW YORK (Reuters) -Hedge fund ValueAct Capital urged Seven & i Holdings shareholders on Thursday to back a spin-off of the company’s 7-Eleven convenience store chain, arguing the move would improve the conglomerate’s valuation and corporate governance. The U.S.-based investment firm, which owns a 4.4% stake in the Japanese company and has …

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Canada’s Sun Life clinches $192 million bancassurance deal with Dah Sing Bank

SINGAPORE (Reuters) -Sun Life Financial Inc has struck a 15-year bancassurance partnership in Hong Kong with Dah Sing Bank, a move that is likely to boost the Canadian insurer’s presence in the special administrative region of Hong Kong. “Sun Life will pay an amount of HK$1.5 billion ($191.5 million) for this exclusive arrangement, with ongoing …

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China’s coal imports from Russia fall in Dec, but up 20% in 2022

SINGAPORE (Reuters) – China’s coal imports from Russia dropped in December as logistics issues and inclement winter in Russia curbed shipments and Chinese demand weakened amid surging COVID infections. Some 6.89 million tonnes of Russian coal reached China last month, down from 7.16 million tonnes in November, data from the General Administration of Customs showed …

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