Bayer to restructure German agriculture activities amid Asian competition
FRANKFURT, May 12 (Reuters) - Bayer (BAYGn.DE), opens new tab said on Monday it would focus production, research and development of its Crop Science division in Germany on "strategic technologies" to react to competitive pressure.
"Manufacturers of generic crop protection products, particularly from Asia, have built significant overcapacity over recent years and are pushing onto the market with persistently low prices, some of which are below the manufacturing costs of crop protection products in Europe," the company said in a statement.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
32 minutes ago
- Reuters
India's Adani Enterprises plans public bond sale
MUMBAI, June 30 (Reuters) - Indian billionaire Gautam Adani's flagship company aims to raise 10 billion rupees ($117 million) through the sale of retail bonds, and has filed a draft prospectus for the issue, according to statements on stock exchanges. This will be the second time within a year that Adani Enterprises ( opens new tab will tap the retail bond market. In September 2024, the company raised 8 billion rupees through a public issue, which was its first such debt sale. The proposed issue includes a greenshoe option of 5 billion rupees. Nuvama Wealth Management, Trust Investment Advisors and Tip Sons Consultancy Services will be the lead managers for the bond sale. The tenor, coupon and the launch date have not yet been decided for the bonds that are rated AA- by Icra and Care Ratings. ($1 = 85.4470 Indian rupees)
Reuters
an hour ago
- Reuters
Rupee to ride Asia FX rally on US-China trade cheer
MUMBAI, June 30 (Reuters) - The Indian rupee is likely to be well supported at open on Monday, aided by the strength in Asian currencies following positive trade-related developments between the U.S. and China. The one-month non-deliverable forward suggests the rupee , which rallied 1.3% last week to 85.4750 per U.S. dollar, will open slightly firmer. Last week's move marked the rupee's best weekly performance in over two years, fuelled by the plunge in oil prices and continued weakness in the dollar. The rupee's bias remains skewed to upside after last week's clean break below 85.80, a currency trader at a Mumbai-based bank said. There is likely to be "good supply on upticks" on the dollar/rupee pair, he said, pegging support at 85.30 and then at 85. The offshore Chinese yuan inched up at 7.16 to the dollar and it is not too far away from its year-to-date high. The South Korean won added 0.5%, the top performer among major Asian currencies. Optimism over the U.S. trade deals and mounting expectations of the Federal Reserve's rate cuts boosted Asian currencies. The White House said on Thursday it had signed an agreement with China to accelerate rare earth approvals. Hours later, Beijing said both sides had agreed on the terms of the deal reached in London earlier this month, developments investors took to signal progress. Meanwhile, U.S. economic data on Friday added to the case for the Fed rate cuts this year, particularly against the backdrop of progress on the trade front. U.S. real consumer spending was softer than expected, leading our economists to revise down their real GDP growth tracking to 2.0% from 2.1%, Morgan Stanley said in a note. Following the data, traders increased bets that the Fed will cut short-term borrowing costs by a total of 75 basis points in 2025, with the first move likely in September. KEY INDICATORS: ** One-month non-deliverable rupee forward at 85.55; onshore one-month forward premium at 10.5 paise ** Dollar index down at 97.18 ** Brent crude futures down 0.3% at $67.6 per barrel ** Ten-year U.S. note yield at 4.28% ** As per NSDL data, foreign investors bought a net $1,243.5 million worth of Indian shares on June 26 ** NSDL data shows foreign investors bought a net $71.7 million worth of Indian bonds on June 26
Reuters
an hour ago
- Reuters
India's stocks may open higher on easing geopolitical woes, foreign inflows
June 30 (Reuters) - India's equity benchmarks are set to open higher on Monday, supported by improved global risk appetite, easing geopolitical tensions, and a resurgence in foreign investor inflows. The Gift Nifty futures traded at 25,768 points, as of 7:50 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open above its previous close of 25,637.8. Asian markets edged higher, mirroring Wall Street gains, while the dollar softened on bets that weaker U.S. jobs data could prompt deeper rate cuts. The Nifty and Sensex (.BSESN), opens new tab ended last week in the green, led by financials and metals, amid improving sentiment and easing geopolitical tensions. Both indices remain just about 2.5% below their September record highs. Easing Middle East tensions and a sharp comeback in foreign inflows have revived investor confidence, said Ajit Mishra, senior vice president of research, Religare Broking. Mishra added that the fragile truce between Iran and Israel has helped shift sentiment toward risk assets. Foreign portfolio investors have bought Indian shares worth about 140 billion rupees ($1.6 billion) in the previous two sessions. Market direction in the near term may hinge on developments in the U.S.' trade negotiations with its key trading partners, including India, ahead of U.S. President Donald Trump's July 9 tariff deadline and domestic corporate earnings season, two analysts said. ** BHEL ( opens new tab bags a 65 billion rupees ($761 million) order from Adani Power ( opens new tab ** ITD Cementation ( opens new tab secures a $67.4 million international marine contract ** Godrej Properties ( opens new tabacquires, opens new tab 43 acres of land in Panipat with a revenue potential of 12.5 billion Indian rupees ($146.28 million) ** Titagarh Rail ( opens new tabgets, opens new tab an order worth 4.31 billion rupees ($50.44 million) from Maharashtra metro rail for 12 additional metro trainsets in Pune ($1 = 85.4510 Indian rupees)
