MUMBAI (Reuters) – India’s foreign exchange reserves dropped for a second consecutive week, falling to a one-month low of $690.43 billion as of Oct. 11, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $10.75 billion in the reporting week, the biggest drop since April 1, 2022. They had …
India’s FX reserves log worst fall in 2-1/2 years Read More »
JAKARTA (Reuters) – Indonesia aims to manage nickel ore supply and demand to support prices, its mining minister said on Friday, amid reports of delays in the quota approval process forcing some smelters to import ores from the Philippines. Indonesia, a major producer of nickel ore, has from this year changed the validity of its …
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By Nellie Peyton JOHANNESBURG (Reuters) – South Africa’s government said on Friday that it had asked Taiwan to relocate its de facto embassy out of the capital Pretoria, while Taiwan accused it of bowing to pressure from China. South Africa rejected this characterization and said the move was standard diplomatic practice, given that it severed …
South Africa asks Taiwan to move its de facto embassy from Pretoria Read More »
BEIJING (Reuters) -Chinese electric vehicle battery giant CATL reported a 26% year-on-year rise in third-quarter profit, a stock filing showed on Friday, accelerating from the previous quarter as it maintains a lead over smaller rivals. CATL made a net profit of 13.14 billion yuan ($1.85 billion) in July-September, while its revenue fell 12.5% year-on-year to …
By Neha Arora and Mayank Bhardwaj NEW DELHI (Reuters) – India’s steel ministry favours a temporary tax to curb rising steel imports, a senior official with direct knowledge of the matter said, as it seeks to protect steelmakers reeling from a surge in cheaper Chinese imports. A temporary “safeguard duty” would help curb Chinese imports, …
India’s steel ministry favours temporary tax to check imports, source says Read More »
By Mubasher Bukhari LAHORE, Pakistan (Reuters) – Authorities shut schools, colleges and universities in Pakistan’s eastern Punjab province on Friday following the most violent student protests in the country in recent years over the alleged rape of a student on campus, officials said. The protests have spread since Monday, with participants alleging that a female …
Pakistan province shuts education institutions after violent protests over alleged rape Read More »
(Reuters) – Manappuram Finance’s shares slumped 16% on Friday, their biggest decline since March 2020, after the Indian central bank’s lending restrictions on the company’s unit triggered rating downgrades due to concerns over a potential hit to earnings. The non-bank lender’s shares fell as much as 18% to 145.42 rupees, their lowest in 10 months, …
India’s Manappuram Finance tanks to over 4-yr low on downgrades after cenbank bars unit Read More »
(Reuters) – India’s Oberoi Realty reported a jump in second-quarter profit boosted by sustained demand for its premium projects, including luxury homes and office spaces. The real-estate developer’s consolidated net profit jumped 29% to 5.89 billion rupees ($70 million) in the three months ended Sept. 30. Its revenue from operations grew 8.5% to 13.20 billion …
India’s Oberoi Realty posts Q2 profit jump on strong demand for premium housing Read More »
TAIPEI (Reuters) – The Taipei-listed shares of TSMC hit a record high on Friday after the world’s largest contract chipmaker posted forecast-beating third-quarter earnings and gave a rosy outlook for strong artificial intelligence (AI) demand. Shares closed up 4.8% at T$1,085 ($33.77), surpassing the previous record of T$1,080 on July 11. That gives TSMC a …
TSMC stock hits new high after forecast-beating earnings Read More »
(Reuters) -Kotak Mahindra Bank will buy Standard Chartered Bank’s personal loan business in India, the Indian lender said on Friday, leaving the U.K.-based company to focus on its wealth and investment banking business in Asia’s third-largest economy. StanChart’s personal loan book had an outstanding of 41 billion rupees ($488 million) as of Sept. 30, Kotak …
StanChart sells India personal loan business to Kotak Mahindra Bank Read More »
