Updated

India’s Nykaa posts near-50% rise in Q4 pre-tax profit on higher margins

(Corrects metrics in paragraph 2 to “profit before tax” and in paragraph 3 to “profit attributable to shareholders”; corrects paragraphs 4 and 6 to say orders were for BPC unit) BENGALURU (Reuters) – India’s FSN E-Commerce Ventures Ltd, parent of cosmetics-to-fashion retailer Nykaa, reported an almost 50% rise in fourth-quarter profit before tax on Wednesday, …

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India’s LIC posts over five-fold jump in Q4 profit on fund transfer gains

BENGALURU (Reuters) -Life Insurance Corporation of India on Wednesday posted a more than five-fold jump in fourth-quarter profit, as it moved nearly 73 billion rupees ($883 million) to a shareholders’ fund to shore up its bottom line. The country’s largest insurer posted a profit after tax of 134.28 billion rupees for the three months ended …

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Clashes in Sudan’s capital shatter lull brought by ceasefire deal

By Khalid Abdelaziz and Nafisa Eltahir DUBAI (Reuters) -Clashes between rival military factions broke out on Wednesday in Sudan’s capital Khartoum, residents said, threatening to shatter a fragile ceasefire designed to allow for the delivery of aid and create conditions for a more lasting truce. The ceasefire deal, which is being monitored by Saudi Arabia …

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India’s market regulator tightens reporting requirements for offshore funds – document

By Jayshree P Upadhyay (Reuters) – India’s market regulator has asked all foreign funds investing in the country to identify their parent financial institution to help unravel opaque ownership structures, according to a letter seen by Reuters. The letter was sent by the Securities and Exchange Board of India (SEBI) to custodian banks, through which …

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Boris Johnson severs ties with lawyers after police referral

LONDON (Reuters) – Britain’s Boris Johnson cut ties with his government-appointed lawyers on Wednesday after he was referred to the police over more potential breaches of COVID-19 lockdown rules, a move the former prime minister’s aides have portrayed as a “stitch up”. The Cabinet Office, which is responsible for overseeing the operation of government, said …

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