Reuters Asia

Colgate-Palmolive India posts Q3 profit jump on lower expenses, urban demand

BENGALURU (Reuters) – Colgate-Palmolive (India) reported a 35.7% jump in third-quarter profit on Monday, aided by healthy urban demand and a fall in expenses. Net profit rose to 3.30 billion rupees ($39.7 million) for the quarter ended Dec. 31 from 2.43 billion rupees a year earlier. Sales of consumer goods makers have been boosted by …

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Rising food prices drive Sri Lanka inflation up to 4.2% in December

BENGALURU (Reuters) -Sri Lanka’s consumer price inflation rate jumped to 4.2% year-on-year in December driven by rising food prices, official data showed on Monday, although it remains well below record high levels seen at the height of the country’s financial crisis.    Food prices rose 1.6% in December after falling 2.2% in November on the …

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China, in comic strip, warns of ‘overseas’ threats to its rare earths

By Liz Lee BEIJING (Reuters) – China’s chief intelligence agency posted on social media a comic strip featuring foreign-looking characters secretly extracting rare earths, in a story portraying the country’s strategic metals under threat from covetous “overseas organisations”. The comic strip, published on Sunday on the State Security Ministry’s official WeChat account, showed security officers …

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Terraform Labs files for bankruptcy protection in US

(Reuters) -Terraform Labs, the company behind the stablecoin TerraUSD, which collapsed and roiled cryptocurrency markets, filed for Chapter 11 bankruptcy in the United States, according to court papers filed on Sunday. Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million. Recently, a …

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China keeps benchmark lending rates steady amid pressure on yuan

SHANGHAI/SINGAPORE (Reuters) -China kept benchmark lending rates unchanged at their monthly fixing on Monday, matching expectations with Beijing seen as having limited scope for monetary easing amid downward pressure on the yuan. The decision came after the People’s Bank of China (PBOC) surprised markets last week by holding its medium-term lending facility rate steady. The …

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Rare-earths miner Lynas’ Q2 revenue halves on falling prices, lower China demand

By Rishav Chatterjee and Melanie Burton MELBOURNE (Reuters) – Australia’s Lynas Rare Earths said on Monday its second-quarter revenue fell sharply, missing analysts’ estimates, as prices plunged during a slowdown in construction activity in China, sending its shares to 30-month lows. Rare earth prices during the quarter extended declines as demand in China, especially in …

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China defies sanctions to make Russia its biggest oil supplier in 2023

By Andrew Hayley BEIJING (Reuters) -Russia leapfrogged Saudi Arabia to become China’s top crude oil supplier in 2023, data showed on Saturday, as the world’s biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants. Russia shipped a record 107.02 million metric tons of crude oil to China …

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China’s 2023 coal imports from Australia rise, but below pre-ban era

BEIJING (Reuters) -China’s coal imports from Australia picked up in 2023 after a ban of nearly two years was lifted, but they remained below pre-ban levels as the supplier tries to regain market share from cheaper competitors Mongolia and Russia. China imported 52.47 million metric tons of Australian coal in 2023, customs data showed on …

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