Reuters Asia

Prosus expects e-commerce profit to jump in 2025, more IPOs in India

JOHANNESBURG (Reuters) – Dutch technology investor Prosus NV expects adjusted profit at its e-commerce business to surge to $400 million this fiscal year and expects more of its Indian businesses to list following Swiggy’s IPO, Chief Executive Fabricio Bloisi said on Monday. Prosus, majority-owned by South Africa’s Naspers, is a major shareholder in Indian food …

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India’s Mahindra Logistics posts widened Q2 loss on higher expenses

(Reuters) – India’s Mahindra Logistics reported a seventh straight quarterly loss on Monday, hurt by higher freight and warehousing costs. Its consolidated net loss widened to 107.5 million rupees ($1.3 million) in the second quarter ended Sept. 30 from a loss of 93.2 million a year ago. Revenue from operations rose 11.5% to 15.21 billion …

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Cambodia to boost power import capacity by over 50% in next two years

By Sudarshan Varadhan SINGAPORE (Reuters) – Cambodia plans to import over 600 megawatts (MW) of clean power from neighbouring Laos, Vietnam and Thailand, its energy minister Keo Rottanak told Reuters, increasing its contracted import capacity by over 50%. The southeast Asian nation will import 300 MW of solar and hydro capacity from Laos starting in …

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German carmakers should not be afraid of Chinese competition, says Scholz

KUPPENHEIM, Germany (Reuters) -German automakers should not be afraid of competition from China, Chancellor Olaf Scholz said on Monday at the opening of Mercedes-Benz’s first battery recycling plant, an investment he described as part of Germany’s new industrial policy agenda. “Some say that China can do much better with electric motors than us,” Scholz said. …

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MetLife in talks to buy PineBridge’s ex-China assets for $1 billion-$1.5 billion, Bloomberg News reports

(Reuters) – New York-based insurer MetLife Inc is in advanced talks to buy PineBridge Investments’ assets outside of China in a deal that could be valued at $1 billion to $1.5 billion, Bloomberg News reported on Monday. The talks are exclusive for assets under management worth about $100 billion, the report said, citing sources. PineBridge …

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Exclusive-Qatar LNG sales to key Asian markets confronted by US, UAE rivalry

By Andrew Mills, Marwa Rashad, Emily Chow and Yuka Obayashi (Reuters) – Qatar is finding it hard to agree new deals to supply liquefied natural gas (LNG) to Japan and South Korea as rising competition from the U.S. and elsewhere with more flexible contract terms challenges Doha’s decades-old dominance of the market. Qatar was once …

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