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Indian insurer ICICI Lombard’s Q2 profit jumps on strong motor, health segments

(Reuters) – India’s ICICI Lombard General Insurance reported a 20% increase in its second-quarter profit on Friday, aided by higher premiums in its motor and health insurance units. The company’s profit after tax rose to 6.94 billion rupees ($82.6 million) for the three months ended Sept. 30 from 5.77 billion rupees a year earlier. Analysts …

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India’s Disney-Reliance JV to stream live sports only on Hotstar, sources say

By Aditya Kalra NEW DELHI (Reuters) -All live sporting events streamed by the newly merged Disney-Reliance business in India, including popular Indian Premier League (IPL) cricket, will only be available on Disney’s Hotstar app, three sources familiar with the matter told Reuters. The decision marks the first major integration of the businesses and signals billionaire …

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World Bank’s Banga says more bilateral, commercial debt forgiveness needed

(This Oct. 17 story has been corrected to include commercial creditors in call for debt forgiveness in the headline and in paragraph 1) By David Lawder WASHINGTON (Reuters) – World Bank President Ajay Banga said on Thursday that bilateral and Paris Club commercial creditors need to provide more debt forgiveness to poor debt-distressed countries, and …

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Voestalpine reorganizes automotive component business sites in Germany

By Ozan Ergenay (Reuters) -Voestalpine will reorganize its automotive component business locations in Germany, including the closure of one of the sites, to respond to falling demand and structural changes, the Austrian specialty steelmaker said on Friday. The plants in Dettingen, Schmoelln, Schwaebisch Gmuend and Boehmenkirch will form a joint production network, with each site …

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UNIFIL condemns ‘deliberate’ Israeli attacks, says destruction in Lebanese villages is shocking

By Emma Farge GENEVA (Reuters) -The U.N. peacekeeping mission in Lebanon said on Friday it had come under several “deliberate” attacks by Israeli forces in recent days and efforts to help civilians in villages in the war zone were being hampered by Israeli shelling. The U.N. mission, known as UNIFIL, is stationed in southern Lebanon …

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India’s Eruditus raises $150 million in TPG-led funding round

By Haripriya Suresh BENGALURU (Reuters) – Indian educational technology company Eruditus has raised $150 million in a new funding round led by private equity firm TPG, at a time when the funding environment for edtech companies has been subdued. Eruditus’ Series F round, which also saw the participation of existing backers SoftBank, Leeds Illuminate, Accel, …

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Cricket-Ravindra revels in ton as New Zealand rattle India with 402

By Shrivathsa Sridhar BENGALURU (Reuters) -Rachin Ravindra smashed a game-changing century as New Zealand posted 402 all out for a substantial first-innings lead of 356 runs over India, who responded by reaching 231-3 at stumps on the third day of the rain-affected opening test on Friday. Resuming on 180-3 at a sun-drenched M Chinnaswamy Stadium, …

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Neutral Switzerland signs declaration to join European Sky Shield initiative

ZURICH (Reuters) – Switzerland has signed up to the European Sky Shield Initiative (ESSI), the government said on Friday, a project which seeks to build a unified air and missile defence system across Europe. The system was initiated by Germany following Russia’s invasion of Ukraine, and is designed to allow European countries to buy defence …

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Malaysia to widen tax net, raise minimum wages in 2025 as budget spending hits record

By Danial Azhar and Ashley Tang KUALA LUMPUR (Reuters) -Malaysia will introduce a slew of new taxes, cut subsidies for a widely used fuel, and raise the minimum wage from next year, Prime Minister Anwar Ibrahim said on Friday as he announced a record budget spending plan of 421 billion ringgit ($98 billion). Anwar said …

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