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Thai finance minister says wants to beat govt forecast of 3% growth in 2025

31 Oct 2024

By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) -Thailand’s economic growth rate is expected to increase to 3% in 2025, supported by spending, exports, investment and tourism, the government said on Thursday, and the finance minister said he was already working to beat that forecast. Southeast Asia’s second-largest economy is seen growing 2.7% this year, …

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Saudi Arabia’s Q3 GDP grows by estimated 2.8% y/y

31 Oct 2024

ABU DHABI (Reuters) -Saudi Arabia’s economy grew 2.8% in the third quarter year on year, preliminary government data showed on Thursday, supported by an increase in non-oil activities. Non-oil growth rose 4.2%, government activities increased 3.1% and the oil sector grew 0.3%, data released by the General Authority for Statistics showed. GDP had shrunk in …

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American Water Works reports strong Q3 results on pricing

31 Oct 2024

(Reuters) – American Water Works reported a rise in profit and revenue for the third quarter on Wednesday, driven by efforts to increase pricing for its drinking water and waste water management services. The company, which serves residential and industrial consumers in North America, reported a quarterly profit of $1.80 per share, compared to $1.66 …

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Everest Group quarterly profit rises on reinsurance strength, investment returns

30 Oct 2024

(Reuters) – Everest Group on Wednesday reported a near 3% rise in third-quarter operating income, helped by strong growth in its reinsurance business and gains from investments. Expectation of a soft landing for the economy and strong labor market data has revived spending on insurance policies helping companies such as Everest. The company said gross …

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Clorox lifts annual profit view after beating quarterly estimates on solid demand

30 Oct 2024

By Anuja Bharat Mistry and Jessica DiNapoli (Reuters) -Clorox raised its annual profit forecast after beating quarterly results on Wednesday, betting on robust demand for its cleaning and homecare products, after lapping the impact from a cyberattack last year. The bleach maker’s first-quarter sales surged as its efforts of introducing new and improved products through …

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Arch Capital profit jumps on higher premiums, robust investment returns

30 Oct 2024

(Reuters) – Arch Capital’s third-quarter profit rose 37% as higher premiums and robust investment returns softened the hit from elevated costs, the insurer said on Wednesday. The results align with trends seen at other major players in the industry. Growing confidence in their financial stability has spurred clients into seeking more comprehensive policy coverage. In …

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Bank of Canada governor says business sentiment will pick up over next year

30 Oct 2024

OTTAWA (Reuters) – Bank of Canada Governor Tiff Macklem said on Wednesday that business sentiment in the country will pick up over the next year. Macklem made the comments during his testimony to the Senate’s committee on banking, commerce and the economy. (Reporting by Promit Mukherjee; Editing by Chris Reese)

CH Robinson tops third-quarter results estimates on higher pricing in ocean services

30 Oct 2024

C.H. Robinson beat Wall Street estimates for third-quarter profit and revenue on Wednesday, helped by the logistics firm’s efforts to reduce costs and higher pricing in its ocean services business. Adjusted gross profits in the company’s ocean freight business rose by 57.4% over a year, driven by a 47% increase in adjusted gross profit per …

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Canada’s Ontario province cuts deficit forecast, proposes tax rebates

30 Oct 2024

By Fergal Smith TORONTO (Reuters) – The Canadian province of Ontario on Wednesday projected a narrower budget deficit for the current fiscal year and proposed providing rebates to taxpayers as its economy slowed less than previously anticipated, a fiscal update showed. Ontario, Canada’s most populous province, said it expected a budget deficit of C$6.6 billion …

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Brazilian ministers pledge measures to strengthen fiscal framework

30 Oct 2024

SAO PAULO (Reuters) – Brazilian ministers on Wednesday pledged to strengthen the country’s fiscal framework, trying to ease market concerns as they prepared to debate how to proceed with a fiscal adjustment that is expected to include spending cuts. Market participants have questioned Brazil’s ability to maintain its fiscal framework, as mandatory expenses have been …

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