2 Min Read
BANGKOK, March 17 (Reuters) - Share prices of Thai cosmetics and food firms jumped on Wednesday after announcements about the research and manufacture of cannabis-based products, as consumer goods companies rush to be first movers in a new market segment.
Cosmetic and supplements producer, DOD Biotech Pcl , saw share prices climb as high as 11.6% after it said it would develop and manufacture dietary supplements and skincare products that contain hemp for retailer Beauty Community Pcl.
Beauty Community jumped as high as 4.4% during trade against a benchmark gain of about 0.2%.
Local consumer good companies are keen to capitalise on the government’s unlocking of hemp and CBD for consumer products in a push to make it the next cash crop of Thailand.
By Reuters Staff
6 Min Read
SINGAPORE (Reuters) - A military coup in Myanmar and a bloody crackdown on protesters has piled pressure on foreign companies operating in the country. Some firms are scaling back or even pulling operations while those with ties to army-linked firms are being urged to cut them.
People flee to safety during an anti-coup protest in Loikaw, Myanmar March 9, 2021 in this still image obtained by Reuters.
Following is a snapshot of global firms doing business in Myanmar.
ENERGY
Total SE and Chevron Corp have a large offshore gas project in partnership with Myanmar Oil and Gas Enterprise (MOGE).
Japanese shares fell for a second straight session on Friday as overnight declines on Wall Street prompted domestic investors to sell index heavyweights and high-flying technology shares.
By Reuters Staff
1 Min Read
FILE PHOTO: The logo of Natura is picture at the company headquarters in Sao Paulo, Brazil December 19, 2019. REUTERS/Amanda Perobelli
SAO PAULO (Reuters) - Brazilian cosmetics maker Natura & Co, owner of brands like Avon and The Body Shop, reported fourth quarter net profit of 175.7 million reais ($31 million), topping a Refinitiv estimate of 89.4 million reais.
The company attributed the rise in net profits from a year ago to increased revenue and cost controls.
The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of 1.25 billion reais in the quarter, slightly undershooting Refinitiv’s 1.29 billion reais estimate.
By Reuters Staff
2 Min Read
FILE PHOTO: Nivea tins are seen in a production line at the plant of German personal-care company Beiersdorf in Hamburg, Germany March 3, 2017. REUTERS/Fabian Bimmer
BERLIN (Reuters) - Siemens Energy, which supplies turbines to the power industry, will replace Nivea manufacturer Beiersdorf in Germany’s blue-chip DAX index from March 22, stock exchange operator Deutsche Boerse said.
Spun off from former parent Siemens AG last year, Siemens Energy, which also owns a 67% stake in wind turbine maker Siemens Gamesa, quickly joined Germany’s midcap index after its listing in September.
Since the listing, Siemens Energy shares have gained more than a third, giving the company a market valuation of about 21.89 billion euros ($26.39 billion).