Bank of India Q1 net profit rises over three-fold to ₹844 cr

Dialight Posts Wider Pretax Loss In H1; Revenue Down 26% – Quick Facts

Dialight plc (DIA.L) reported a pretax loss of 6.0 million pounds for the period ended 30 June 2020 compared to a loss of 3.8 million pounds, previous year. Loss per share was 9.5 pence compared to a loss of 10.1 pence.

First half revenue declined year-on-year to 56.3 million pounds from 76.1 million pounds. The Group noted that its first half performance was significantly impacted by COVID-19.

Dialight plc noted that its Board is not proposing any interim dividend payment for 2020.

JAL Group Posts Loss In Q1

JAL Group (JAPSY.OB) reported a first-quarter loss of JPY 93.7 billion versus a profit of JPY 12.9 billion last year.

Revenue for the quarter plunged 78.1% to JPY 76.3 billion from JPY 348.8 billion generated a year ago.

The available seat kilometers (ASK) for International Passenger Business in the first quarter declined by 91.7% year over year, its passenger traffic decreased by 98.6% year over year, its revenue passenger kilometers (RPK) decreased by 98.3% year over year, and the load factor decreased to 17.5%.

Likewise, the available seat kilometers (ASK) for Domestic Passenger Business decreased by 64.2% year over year, its passenger traffic decreased by 86.7% year over year, its revenue passenger kilometers (RPK) decreased by 86.9% year over year, and the load factor decreased to 28.3%.

The JAL group noted that it would continue to reduce operating costs and to increase its revenue as much as possible with keeping a close eye on the passenger travel demand, considering the spread of COVID-19 in Japan and the world, and the outlook of the world and Japanese economy.

China suspends extradition agreement with New Zealand

BEIJING (Reuters) – China said on Monday it will suspend its extradition agreement with New Zealand in response to Wellington suspending its existing extradition treaty with Hong Kong.

Chinese foreign ministry spokesman Wang Wenbin announced the decision at a daily briefing.

Kakao Games to raise up to $322 mln in IPO

SEOUL, Aug 3 (Reuters) – Kakao Games Corp, a gaming unit of South Korea’s top mobile messaging service provider Kakao Corp , said on Monday that it plans to raise up to 384 billion won ($321.55 million) in its initial public offer.

Kakao Games Corp said it will offer 16 million new shares at a range of 20,000 won to 24,000 won each. ($1 = 1,194.2100 won) (Reporting by Hyunjoo Jin, editing by Louise Heavens)

Northern Ireland Catholic leader and Nobel Peace laureate John Hume dies

DUBLIN (REUTERS) – Mr John Hume, a key architect of Northern Ireland’s Good Friday peace agreement and winner of the Nobel Peace Prize, died on Monday (Aug 3) at the age of 83, his Social Democratic and Labour Party (SDLP) said.

“The death of John Hume represents the loss of 20th century Ireland’s most significant and consequential political figure,” SDLP leader Colum Eastwood said in a statement.

“This is an historic moment on this island, but most of all, it is a moment of deep, deep sadness.”

Massive California wildfires prompt evacuations

The fire in Riverside County east of Los Angeles has burned huge swaths of land and destroyed numerous structures.

Nearly 8,000 people have been told to leave parts of Southern California in the US, where a wildfire is burning.

Some 13,000 firefighters, backed by water-dumping aircraft, are up against hot, dry weather that is forecast to continue.

Al Jazeera’s Rob Reynolds reports from Los Angeles in the US state of California.

Philippines reports 3,226 new coronavirus infections, 46 more deaths

MANILA (REUTERS) – The Philippine health ministry on Monday (Aug 3) confirmed 3,226 novel coronavirus infections and 46 additional deaths.

In a bulletin, it said total confirmed cases have reached 106,330 and deaths have increased to 2,104.

With four successive days of reporting record infections, the Philippines is close to passing Indonesia with the most cases so far in South-east Asia.

President Rodrigo Duterte on Sunday ordered the reimposition of a strict lockdown in and around the capital starting Aug 4 to stem the case surge and help inundated hospitals.

Hong Kong reports 80 new coronavirus cases, slight drop from previous highs

HONG KONG (REUTERS) – Hong Kong reported 80 new coronavirus cases on Monday (Aug 3), dropping below 100 infections for the first time in 12 days, as a team of Chinese officials began preparations for widespread testing in the global financial hub, which has seen a resurgence in cases.

The initiative, which was announced by the Chinese government, marks the first time mainland health officials have assisted Hong Kong in its battle to control the epidemic.

Since late January, around 3,600 people have been infected in Hong Kong, 37 of whom have died.

China suspends extradition agreement with New Zealand

BEIJING (REUTERS) – China said on Monday (Aug 3) it will suspend its extradition agreement with New Zealand in response to Wellington suspending its existing extradition treaty with Hong Kong.

Chinese foreign ministry spokesman Wang Wenbin announced the decision at a daily briefing.

Bank of India Q1 net profit rises over three-fold to ₹844 cr

State-owned Bank of India (BoI) on Monday reported over three-fold rise in net profit to ₹843.60 crore for the quarter ended June 30, as pressure of bad loans eased.

The bank had registered a net profit of ₹242.60 crore in the April-June period of 2019-20.

The total income during the period under review increased to ₹11,941.52 crore, from ₹11,526.95 crore in the year-ago period, BoI said in a regulatory filing.

On the assets front, the bank witnessed improvement with gross non-performing assets (NPAs) declining to 13.91% of the gross advances as on June 30, 2020 as against 16.50% in the same period a year ago.

Similarly, net NPAs or bad loans too declined to 3.58%, from 5.79% in the corresponding period last year.

As a result, the provisioning for bad loans declined to ₹766.62 crore during April-June of this fiscal, from ₹1,873.28 crore in the same period a year ago.

Overall, the contingencies and provisions during the quarter too eased to ₹1,512.07 crore, from ₹1,911.98 crore a year-ago.