EASIA — صفحه 3 از 4 — ✅ خرید وی پی ان ❇ ip ثایت vPn آی پی اختصاصی ◐

مارس 17, 2022

Ping An Insurance profit falls 29% amid premium income pressure

File Photo: A man walks past a branch of Ping An Bank, a subsidiary of Ping An Insurance, in Beijing, China. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comRegister

Ping An annual net profit tanks 29% on year
Life, property and casualty insurance premiums down
Agent numbers slashed, bodes ill for future sales

SHANGHAI, March 17 (Reuters) – China’s Ping An (601318.SS), , the country’s largest insurer by market value, reported its biggest annual profit fall since 2008 on Thursday amid pressure on its premium income.Ping An posted a 29% fall in annual net profit to 101.6 billion yuan ($16 billion）in 2021 from 143.1 billion yuan, as premium income from life insurance fell 4.1% year-on-year to 490.3 billion yuan, while property and casualty insurance premium income fell 5.5% to 270 billion yuan.”Complex, severe economic situations across the world and resurgences of COVID-19 increased uncertainty in resident income expectations in 2021,” Ping An said in a filing, and this “tempered consumer spending on long-term protection products”.Register now for FREE unlimited access to Reuters.comRegisterAnother factor was a fall in the number of Ping An sales agents fell, which meant that its new business value of life and health insurance sank 23.6% to 37.9 billion yuan.Its army of insurance agents, once the jewel in Ping An’s crown, is set to shrink further, putting more pressure on sales.”In 2022, the number of agents may still fall quite a lot compared to the year before,” Huatai Securities said in a note published this month, adding that this “can only have an impact on the growth of new insurance policies”.PROPERTY EXPOSUREPing An has been shaken by growing concerns about its investments in a highly indebted property sector which faces a liquidity crunch amid a crackdown by Beijing on borrowing.While there are suggestions of an easing — from exempting M&A financing from the tighter restrictions to loosening mortgage lending — many developers are still feeling liquidity pressure, two people with knowledge said.Ping An said it had a total exposure of 54 billion yuan ($8.4 billion) to China Fortune Land Development Co last year as the developer faced mounting default pressure.Some analysts cautioned that the total property exposure of Ping An is much higher and still underestimated by the market, which will poses further credit risks.However, its Ping An Bank Co Ltd reported a 25.6% increase in annual profit for last year, compared to 2020, with the bank’s non-performing loan ratio down to 1.02% at end of December, from 1.05% three months ago.Ping An’s Shanghai-listed shares are down 9.72% in the year to date, compared with a 11.62% drop in the benchmark Shanghai Composite Index and a 8.11% fall in Hang Seng index.Register now for FREE unlimited access to Reuters.comRegisterReporting by Engen Tham, Zhang Yan; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles. .

مارس 11, 2022

Middle East Crude Benchmarks slip; Al-Shaheen premium hikes

BEIJING, March 11 (Reuters) – Middle East crude benchmarks Oman, Dubai and Murban shaded weaker on Friday as major oil producers strive to bring more supply to the market to offset the embargos on Russian cargos, while policymakers around the globe mull tapering inflation.Qatar Energy has sold four May-loading crude cargoes via tenders at record premiums after buyers avoided Russian oil amid fears of Western sanctions following Moscow’s invasion of Ukraine. Spot premiums for al-Shaheen crude nearly tripled from the previous month after the producer sold two al-Shaheen crude cargoes to Unipec and PetroChina at about $12 a barrel above Dubai quotes, they said. The cargoes will load on May 2-3 and 29-30.Register now for FREE unlimited access to Reuters.comRegisterExports of Malaysia’s flagship Kimanis crude oil are set to fall to six cargoes in May, down two from April, due to maintenance at oilfields offshore Sabah, a preliminary loading schedule showed on Friday. read more Sinopec’s (600028.SS) 250,000 barrels-per-day Yangzi refinery will shut down its whole plant for a 61-day planned maintenance, starting from March 15, according to a company statement. OSPKuwait raised the official selling prices (OSPs) for two crude grades it sells to Asia in April from the previous month, a price document reviewed by Reuters showed on Friday. read more The producer has set April Kuwait Export Crude (KEC) price at $4.80 a barrel above the average of Oman/Dubai quotes, up $2.25 from the previous month.It also raised the April Kuwait Super Light Crude (KSLC) OSP to $5.95 a barrel above Oman/Dubai quotes, up $2.60.The price hike for KEC was 10 cents more than that for Saudi’s Arab Medium crude in the same month.WINDOWCash Dubai’s premium to swaps fell 61 cents to $11.48 a barrel.PRICES ($/BBL)India’s ONGC Videsh failed to get bids in its tender to sell 700,000 barrels of Russian Sokol crude in a growing backlash against Moscow for its invasion of Ukraine, sources familiar with the matter said. read more This was the first tender by ONGC Videsh, since the war in Ukraine began on Feb. 24.NEWSNorwegian state oil company Equinor (EQNR.OL) has stopped trading Russian oil as it winds down operations there in the wake of Moscow’s invasion of Ukraine. read more Canada is studying ways to increase pipeline utilization to boost crude exports as Europe seeks to reduce its dependence on Russian oil. read more European Union leaders are set to agree on Thursday to cut their reliance on Russian fossil fuels, although they are divided over whether to cap gas prices and to sanction oil imports as Moscow wages war in Ukraine. read more The European Central Bank will stop pumping money into financial markets this summer, it said on Thursday, paving the way for an increase in interest rates as soaring inflation outweighs concerns about the fallout from Russia’s invasion of Ukraine. read more For crude prices, oil product cracks and refining margins, please click on the RICs below.Register now for FREE unlimited access to Reuters.comRegisterReporting by Muyu Xu and Florence Tan; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles. .

مارس 8, 2022

GM gears up to launch ‘halo’, a new premium import business in China

The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca CookRegister now for FREE unlimited access to Reuters.comRegisterBEIJING, March 8 (Reuters) – General Motors Co (GM.N) plans to create a new, independently owned premium brand in China that will market what the automaker’s China chief Julian Blissett recently described as “halo cars” brought in from the United States.GM (GM.N) plans to build this new “premium import business” from the ground up and operate it with “a high level of autonomy,” GM said in a statement on Tuesday.“We are inviting talent from across the industry to join us and jointly create our brand-new business in China,” it said.Register now for FREE unlimited access to Reuters.comRegisterThe U.S. automaker issued the statement after multiple Chinese media outlets reported this week about the new wholly owned brand.According to a Shanghai-based GM spokesperson, Blissett told Chinese media outlets on Friday the new premium brand will specialize in selling upscale GM vehicles currently unavailable in China through its existing brands. Those brands include Wuling, Baojun, Chevrolet, Buick and Cadillac, all of which are owned and operated with Chinese joint-venture partners.Blissett told Chinese media outlets the new business will be fully owned by GM, the spokesperson said.Additional details such as which vehicle models the new brand plans to sell or how such models are going to be marketed and distributed will be announced at a later date, she said.Register now for FREE unlimited access to Reuters.comRegisterReporting By Norihiko Shirouzu in Beijing; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles. .

مارس 1, 2022

Palm oil becomes costliest vegoil as Ukraine war halts sunoil supply

Buyers struggle to replace sunoil quickly
Huge demand lifts palm oil prices to a record high
Soyoil supply limited as drought hits South America
Palm’s premium could fade as buyers shift to soyoil

MUMBAI, March 1 (Reuters) – Palm oil has become the costliest among the four major edible oils for the first time as buyers rush to secure replacements for sunflower oil shipments from the top exporting Black Sea region that were disrupted by Russia’s invasion of Ukraine.Palm oil’s record premium over rival oils could squeeze price-sensitive Asian and African consumers already reeling from spiralling fuel and food costs, and force them to curtail consumption and shift to rival soyoil , dealers said.Crude palm oil (CPO) is being offered at about $1,925 a tonne, including cost, insurance and freight (CIF), in India for March shipments, compared with $1,865 for crude soybean oil.Register now for FREE unlimited access to Reuters.comRegisterCrude rapeseed oil was offered at around $1,900, while traders were not offering crude sunflower oil as ports are closed due to the Ukraine crisis.Palm oil vaults to historic premium over soyoil in India, sparking shifts in buying patternsThe Black Sea accounts for 60% of world sunflower oil output and 76% of exports. Ports in Ukraine will remain closed until the invasion ends. read more “Asian and European refiners have raised palm oil purchases for near-month shipments to replace sunoil. This buying has lifted palm oil to irrational price level,” said a Mumbai-based dealer with a global trading firm.”They have the option of buying soyoil as well. But prompt soyoil shipments are limited and they take much longer to land in Asia compared to palm oil,” he said.Soybean production in Argentina, Brazil and Paraguay is expected to fall because of dry weather. Price-sensitive Asian buyers traditionally relied on palm oil because of low costs and quick shipping times, but now they are paying more than $50 per tonne premium over soyoil and sunoil, said a Kuala Lumpur-based edible oil dealer.Palm oil’s price premium is temporary, however, and could fade in the next few weeks as buyers shift to soyoil for April shipments, the dealer said.Most of the incremental demand for palm oil is fulfilled by Malaysia, as Indonesia has put restriction on the exports, said an Indian refiner. “Malaysian stocks are depleting fast because of the surge in demand. It is the biggest beneficiary of the current geopolitical situation,” he said.Register now for FREE unlimited access to Reuters.comRegisterReporting by Rajendra Jadhav
Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles. .

فوریه 16, 2022

Treasury Wine shares surge as ex-China growth begins to pay off

Bottles of Penfolds Grange wine and other varieties, made by Australian wine maker Penfolds and owned by Australia’s Treasury Wine Estates, sit on shelves for sale at a winery located in the Hunter Valley, north of Sydney, Australia, February 14, 2018. REUTERS/David GrayRegister now for FREE unlimited access to Reuters.comRegisterFeb 16 (Reuters) – Treasury Wine Estates (TWE.AX) said on Wednesday its operating earnings outside mainland China jumped 28%, underpinned by growth in its luxury and premium brands, sending shares of the world’s largest standalone winemaker nearly 12% higher.Treasury has had to re-direct supply to the United States, Europe and domestically after a diplomatic row between Canberra and Beijing effectively closed the lucrative Chinese market to Australian wine.The company said it recorded strong growth in its Americas and premium brands businesses, both of which reported a 19% rise in their earnings before interest, tax, SGARA and material items (EBITS).Register now for FREE unlimited access to Reuters.comRegister“Penfolds growth was particularly strong in Asian markets outside of Mainland China … increasing distribution in Asia, domestic markets, Europe and the United States was a key execution highlight,” the company said in a statement.Reported EBITS, excluding Australian COO wine sold in mainland China, rose to A$262.4 million ($187.7 million), narrowly missing market expectations of A$265 million while its total net profit slid 7.5% to A$109.1 million.The company said trading conditions for the remainder of fiscal 2022 were expected to remain broadly in line with the first half across its key markets and channels.”Despite FY22 potentially shaping up to be slightly softer than expectations, we see Treasury doing a commendable job building demand for its products in new markets,” Citi analysts said in a note.Treasury shares jumped as much as 11.8% to A$11.78 in early trading, while the broader market (.AXJO) rose 0.4%.The company said it plans to increase prices across select portfolio brands to partly mitigate the impact of elevated supply chain costs and logistics. The Melbourne-based firm retained its interim dividend of 15 Australian cents per share.($1 = 1.3986 Australian dollars)Register now for FREE unlimited access to Reuters.comRegisterReporting by Tejaswi Marthi and Savyata Mishra in Bengaluru; Editing by Aditya Soni and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles. .