Latest news with #VijayKishore
New Straits Times
01-08-2025
- Business
- New Straits Times
RHB Bank seals 20-year insurance and bancatakaful deals with Tokio Marine and Takaful Malaysia
KUALA LUMPUR: Malaysia's RHB Bank on Friday said it entered exclusive 20-year bancassurance and bancatakaful agreements with Tokio Marine Life Insurance Malaysia and Takaful Malaysia. Takaful Malaysia refers collectively to insurer Syarikat Takaful Malaysia Keluarga and its unit. In Malaysia, conventional insurance and bancatakaful agreements, which provide sharia-compliant insurance options, allow insurers to sell their products through a bank's distribution network. Under the agreements, RHB will receive up to RM1.6 billion (US$374.27 million) in access fees over the agreement duration for exclusively distributing conventional life insurance and takaful products through its branch network and digital channels in Malaysia. (Reporting by Roshan Thomas in Bengaluru; Editing by Vijay Kishore)
Mint
03-07-2025
- Business
- Mint
HK shares end lower as tech stocks weigh on fears of e-commerce price war
(Updates to market close) SHANGHAI, July 3 (Reuters) - Hong Kong shares closed down on Thursday, led by tech stocks, as investors fretted that intensifying competition among e-commerce giants could squeeze profit margins. China stocks ended higher. ** China's blue-chip CSI300 Index closed up 0.6%, while the Shanghai Composite Index was 0.2% higher. Hong Kong benchmark Hang Seng was down 0.6%. ** E-commerce giant Alibaba shares listed in Hong Kong fell nearly 3%, leading declines in Hong Kong, after the company announced a 50-billion-yuan ($6.98 billion) subsidy programme to merchants and customers on Wednesday. ** "Alibaba's plan to offer $7 bn of subsidies for food delivery and online retail implies competition is heating up again among China e-commerce companies," said UBS analysts. ** Shares of on-demand delivery giant Meituan dropped 2.5%, while fell 2.1%. ** Meanwhile, a prominent Chinese Communist Party publication called for a crackdown on competition that fuels price wars and squeezes profits in various industries, criticising large companies and local governments for unfair practices. ** China's services activity expanded at the slowest pace in nine months in June, as demand weakened and new export orders declined amid a fragile trade truce with the United States, a private sector survey showed on Thursday. ** China's semiconductor shares were little moved after U.S. chip design software developers said they have received notices lifting restrictions on exports to China. ** China is assessing the trade deal between the United States and Vietnam, and will safeguard its own rights and interests if needed, a spokesperson for China's commerce ministry said on Thursday. ** Healthcare shares led gains onshore, up 1.2%, as Beijing ramped up policy support for the country's innovative drugs. ** Biotech stocks also rose in Hong Kong, with Ascentage up 6.2%. ($1 = 7.1643 Chinese yuan renminbi) (Reporting by Shanghai Newsroom; Editing by Vijay Kishore)
The Star
21-05-2025
- Business
- The Star
Wolfspeed prepares to file for bankruptcy within weeks, WSJ reports
FILE PHOTO: U.S. power chip maker Wolfspeed's silicon carbide 200mm wafer is seen on display at Wolfspeed's Mohawk Valley Fab in Marcy, New York, U.S., Courtesy of Wolfspeed/Handout via Reuters./File Photo (Reuters) -Semiconductor supplier Wolfspeed is preparing to file for bankruptcy within weeks, as it struggles to address its debt pile, the Wall Street Journal reported on Tuesday, citing sources familiar with the matter. Shares of the company fell over 57% in extended trading. Wolfspeed has been grappling with sluggish demand in industrial and automotive markets and tariff-induced uncertainty. The company is looking to file for Chapter 11 bankruptcy that would have the support of a majority of its creditors, after rejecting several out-of-court debt restructuring proposals from creditors, the report said. Wolfspeed declined to comment when contacted by Reuters. The company, which manufactures chips using silicon carbide, raised going-concern doubts and forecast weaker-than-expected annual revenue earlier this month. The company expects revenue of $850 million in 2026, below analysts' estimate of $958.7 million. (Reporting by Juby Babu in Mexico City; Editing by Vijay Kishore and Mohammed Safi Shamsi)
Reuters
07-05-2025
- Business
- Reuters
Rio Tinto extracts first gallium under collaboration with Indium
A view shows the Rio Tinto logo in Perth, Australia, April 19, 2025. REUTERS/Christine Chen Purchase Licensing Rights , opens new tab The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Reporting by DhanushVignesh Babu in Bengaluru; Editing by Vijay Kishore Our Standards: The Thomson Reuters Trust Principles. , opens new tab Share X Facebook Linkedin Email Link Purchase Licensing Rights
Yahoo
07-05-2025
- Business
- Yahoo
UK's FD Technologies soars on possible $722 million buyout by private equity firm
(Reuters) -British data and analytics firm FD Technologies said on Wednesday it is in advanced talks with American private equity firm TA Associates over a possible acquisition offer, valuing the firm at 541.6 million pounds ($722.77 million). Shares of FD Technologies soared 19% to 23 pounds. The possible offer represents a premium of about 27% to the stock's last closing price. TA Associates had proposed to buy the London-listed firm at 24.50 pounds per share in late March, a price at which the FD Technologies board was ready to recommend to shareholders if a formal offer was tabled, the company added. The U.S. firm has until June 4 to make a formal offer or walk away, according to UK takeover rules. ($1 = 0.7493 pounds) (Reporting by Yadarisa Shabong in Bengaluru; Editing by Vijay Kishore)
