Reuters Asia

Philippines’ Marcos draws ire for helicopter use for Coldplay concert

MANILA (Reuters) – Philippines President Ferdinand Marcos Jr drew flak on social media for his use of a presidential helicopter to attend a concert by British rock band Coldplay in a province north of the capital, Manila. The Philippine Arena, the world’s largest indoor arena, saw an influx of 40,000 concert-goers resulting in “unforeseen traffic …

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Thousands of New Zealand Maori meet to discuss response to government plans

By Lucy Craymer WELLINGTON (Reuters) – More than 10,000 New Zealand Maori congregated in the central North Island on Saturday to discuss how to respond to government plans that are seen by many Indigenous groups as undermining their rights and status. Maori King Tuheitia, who hosted the event, told attendees their voices matter but it …

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India defers $602 million plan to fill parts of strategic petroleum reserve

MUMBAI (Reuters) – India has deferred a 50-billion-rupee ($601.78 million) plan to fill parts of its strategic petroleum reserve, keeping in mind emerging trends in oil markets, the finance ministry said on Saturday. In the federal budget for 2023-24, the government had outlined a plan to purchase crude oil worth 50 billion rupees for caverns …

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India’s ICICI Bank beats quarterly estimates with record high profit

By Siddhi Nayak MUMBAI (Reuters) -India’s ICICI Bank reported a better-than-expected third-quarter profit on Saturday, helped by robust loan growth, although its net interest margin (NIM) shrank for the fourth straight quarter. The country’s second-biggest private bank reported a record high standalone net profit of 102.72 billion rupees ($1.24 billion) in the quarter ended Dec. …

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India’s Kotak Mahindra Bank misses Q3 profit view on higher loan provisions

By Siddhi Nayak MUMBAI (Reuters) -India’s Kotak Mahindra Bank reported lower-than-expected third-quarter net profit on Saturday, weighed down by higher bad loan provisions and shrinking lending margins. The private bank reported standalone net profit of 30.05 billion rupees ($361.7 million) in the quarter ended Dec. 31, compared to analysts’ expectations of 31.94 billion rupees, per …

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Cricket-Tata Group bags five-year IPL sponsorship rights for $300 million

By Amlan Chakraborty NEW DELHI (Reuters) – Indian conglomerate Tata Group has bagged the title sponsorship of the Indian Premier League (IPL) for 2024-28 for a “record-breaking” $300 million, the league organisers said on Saturday. Backed by celebrity franchise owners and featuring the best players in international cricket, IPL has become the world’s richest T20 …

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