Reuters Asia - Squid Business

India’s United Spirits third-quarter profit climbs on premium liquor demand

BENGALURU (Reuters) – India’s United Spirits, which makes Smirnoff vodka, reported a rise in third-quarter profit on Tuesday, buoyed by strong demand for its premium brands of alcohol. A greater number of affluent Indians are choosing more expensive cars and consuming pricier food and liquor, unaffected by inflation. This boosted the Diageo PLC-owned company’s profit …

India’s United Spirits third-quarter profit climbs on premium liquor demand Read More »

Maldives says Chinese vessel will not conduct research in its waters

COLOMBO (Reuters) – A Chinese research vessel on its way to the Maldives will not conduct any research while in the archipelago’s waters in the Indian Ocean, the Maldivian foreign ministry said on Tuesday. The Chinese vessel Xiang Yang Hong 03, which is en route to the Maldives, will only make a port call “for …

Maldives says Chinese vessel will not conduct research in its waters Read More »

Rohingya death toll at sea in 2023 worst for almost a decade -UN

By Ruma Paul DHAKA (Reuters) – At least 569 Rohingya were reported to have died or gone missing while trying to flee Myanmar or Bangladesh in 2023, the highest toll since 2014, the U.N. refugee agency said on Tuesday, calling for urgent action to protect the ethnic minority group. The deaths or disappearances occurred during …

Rohingya death toll at sea in 2023 worst for almost a decade -UN Read More »

Havells India posts marginal rise in Q3 profit

BENGALURU (Reuters) – Home appliances maker Havells India on Tuesday reported a marginal growth in third-quarter profit, as demand for its wires and cables largely compensated for slower consumer goods sales growth. The company reported a profit of 2.88 billion rupees ($34.7 million) for the quarter ended Dec. 31, compared to 2.84 billion rupees last …

Havells India posts marginal rise in Q3 profit Read More »

BOJ signals conviction on hitting inflation goal in hawkish tilt, stands pat for now

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan maintained its ultra-easy monetary settings on Tuesday but signalled its growing conviction that conditions for phasing out its huge stimulus were falling into place, suggesting that an end to negative interest rates was nearing. BOJ Governor Kazuo Ueda gave no hints on whether …

BOJ signals conviction on hitting inflation goal in hawkish tilt, stands pat for now Read More »

Investors give up futile wait for China to fix economy

By Samuel Shen and Rodrigo Campos SHANGHAI/NEW YORK (Reuters) -From hope to hesitancy and now total capitulation, global investors in China are heading for the exits in the world’s second-biggest economy and sending its stock market crashing. Stock markets in Hong Kong and Shanghai tumbled on Monday — the Shanghai index [.SS] marking its worst …

Investors give up futile wait for China to fix economy Read More »

India’s Axis Bank sees deposit growth catching up with loans

By Siddhi Nayak and Sethuraman N R MUMBAI/BENGALURU (Reuters) -India’s Axis Bank edged past third-quarter profit estimates on Tuesday and signalled that deposit growth will eventually catch up with loan growth. The Mumbai-based private bank reported its standalone net profit rose 3.7% to 60.71 billion rupees ($730.19 million) in the three months ended Dec. 31, …

India’s Axis Bank sees deposit growth catching up with loans Read More »

India’s Glenmark Life Sciences posts Q3 profit rise; strong orderbook ahead, says CEO

HYDERABAD (Reuters) – Indian drugmaker Glenmark Life Sciences posted a 13% rise in third-quarter profit on Tuesday, helped by a robust performance by its core active pharmaceutical ingredient (API) business. The Mumbai-based company, which detergent maker Nirma is in the process of taking over, said its profit rose to 1.19 billion rupees ($14.32 million) in …

India’s Glenmark Life Sciences posts Q3 profit rise; strong orderbook ahead, says CEO Read More »

Bank of America cuts 20 staff in Asia, China-focused bankers affected most- sources

By Kane Wu and Selena Li HONG KONG (Reuters) -Bank of America on Tuesday announced job cuts of around 20 bankers in Asia, three sources with knowledge of the matter said, as plunging markets in China and Hong Kong weighed on deal prospects. The majority of the bankers affected are Hong Kong-based and worked on …

Bank of America cuts 20 staff in Asia, China-focused bankers affected most- sources Read More »

Video-game market recovery to pick up steam in 2024 on strong console sales – report

(Reuters) – A recovery in the global video-game market is expected to pick up pace this year on the back of strong sales of Microsoft’s Xbox and Sony’s PlayStation 5 consoles, according to research firm NewZoo. The market is set to grow 2.8% to $189.3 billion in 2024, after it rose around 0.6% last year …

Video-game market recovery to pick up steam in 2024 on strong console sales – report Read More »