Chandini M

Big brands bet on World Cup fever in India, where cricket is "religion"

28 Jun 2019

BENGALURU Indian advertisers are on track to spend more than $400 million during this year's ICC Cricket World Cup, looking to cash in on a mania that is smashing viewing records in the world's biggest market for the sport.

DHFL shares tank on rating cuts, fan fears of shadow banking crisis in India

06 Jun 2019

BENGALURU/MUMBAI Shares of Indian mortgage lender Dewan Housing Finance Corp Ltd (DHFL) plunged as much as 18% on Thursday after two major credit ratings agencies categorised the company's commercial paper at default levels, fanning fears of growing distress in the country's shadow banking sector.

Indian shares rise ahead of Modi's swearing-in ceremony, May F&O expiry

30 May 2019

May 30 Indian shares rose on Thursday ahead of May derivative contracts' expiry, with Bharti Airtel Ltd and NTPC Ltd leading gains, as investors awaited appointments for key ministries at Prime Minister Narendra Modi's swearing-in ceremony.

McDonald's settles with former India partner, to reopen restaurants in two weeks

09 May 2019

BENGALURU McDonald's Corp's Indian arm has reached a settlement with former partner Vikram Bakshi, acquiring full ownership in their joint venture Connaught Plaza Restaurants Ltd, the company said in a statement.

ICICI Bank misses forecasts with quarterly profit fall

06 May 2019

BENGALURU ICICI Bank reported a 5 percent drop in fourth-quarter profit on Monday, missing estimates after being hit by a rise in expenses and a higher accumulation of bad loans.

Spotify steps into crowded Indian market

27 Feb 2019

Spotify, the world's most popular paid music streaming service, launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded local players like JioSaavn and Apple Music.

Prudential sees profit boost from Asia, demerger holds on track

14 Nov 2018

LONDON Prudential , Britain's largest insurer, said new business profit from its life insurance operations rose 17 percent in the first nine months of the year, driven by another robust performance in Asia.

UPDATE 2-Prudential sees profit boost from Asia, demerger holds on track

14 Nov 2018

* Shares down 0.5 pct, just outperforming FTSE 100 (Adds detail from statement, share reaction, analyst comment, CEO quote)

SE Asia Stocks-End lower on caution ahead of earnings season

15 Oct 2018

* Indonesia down despite Sept trade surplus * Singapore sheds nearly 0.8 pct By Chandini M Oct 15 Southeast Asian stocks tracked global peers lower on Monday as investors fretted over the impact of U.S.-China trade spat, while caution ahead of corporate results and uncertainty over a clean Brexit kept risk appetite subdued. Over the weekend, China central bank governor Yi Gang said he still saw plenty of room for adjustment in interest rates and the reserve requirement ratio, as downside risks from trade tensions with the United States remained significant. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1 percent while Shanghai shares were down 0.75 percent, with investors bracing for a European Union summit from Wednesday amid concerns over Brexit. Manny Cruz, an analyst at Asiasec Equities Inc said regional markets fell due to weakness in broader Asia amid fears that some U.S. companies may post lower-than-expected earnings. "The Brexit deal is also hanging in the balance and is causing anxiety," he added. Although stocks in the region recovered on Friday, partly after Chinese trade data showed strong growth in September, investors turned cautious on Monday as a bounceback in oil prices and rising tensions between Western powers and Saudi Arabia added to a confluence of factors that battered global equities last week. "With China's GDP data expected later this week, people are just waiting on the sidelines," said Joel Ng, an analyst with KGI Securities. Gang said on Sunday China's economic growth would comfortably reach its full-year target of around 6.5 percent with the possibility of overshooting. The GDP data is expected on October 19. After see-sawing during the day, Indonesian shares settled 0.5 percent lower. The country's trade balance unexpectedly swung back to surplus in September as imports and exports grew much slower than expected, data released by the statistics bureau showed on Monday. Philippine shares ended the session 1.1 percent lower, hurt by industrial and consumer stocks. Conglomerates SM Investments and Universal Robina Corp were the biggest drags on the benchmark. The Vietnamese index ended 1.9 percent lower while Singapore shares shed nearly 0.8 percent. Thailand markets were closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Market Current Previous close Pct Move Singapore 3045.97 3069.17 -0.76 Manila 6926.51 7004.77 -1.12 Jakarta 5727.256 5756.49 -0.51 Kuala Lumpur 1728.74 1730.74 -0.12 Ho Chi Minh 951.64 970.08 -1.90 Change on year Market Current End 2017 Pct Move Singapore 3045.97 3402.92 -10.49 Manila 6926.51 8558.42 -19.07 Jakarta 5727.256 6355.654 -9.89 Kuala Lumpur 1728.74 1796.81 -3.79 Ho Chi Minh 951.64 984.24 -3.31 (Reporting by Chandini Monnappa, additional reporting by Rashmi Ashok; Editing by Vyas Mohan)

Rio Tinto announces new $3.2 billion share buyback, stock rises

20 Sep 2018

Global miner Rio Tinto will return $3.2 billion to shareholders from its sale of Australian coal assets this year in addition to existing buyback programs, it said on Thursday.

World News

Squabbles erupt as G7 leaders arrive for summit in France

Squabbles erupted among G7 nations on Saturday even before their leaders had gathered for an annual summit, exposing sharp differences on global trade tensions, Britain's exit from the EU and how to respond to the fires raging in the Amazon rainforest.