Reuters

By Kirsty Needham

SYDNEY (Reuters) - The World Bank has urged the largest Pacific Island nation, Papua New Guinea, to address a "human capital crisis" and invest more in educating children, who suffer high rates of stunted growth and illiteracy, as a way to boost economic growth and security.

An annual economic update for Papua New Guinea (PNG) released on Thursday shows economic growth was a modest 2.7% last year, half the previous... (continue reading...)

TOKYO (Reuters) - Japanese trading house Sumitomo Corp reported net profit for the fiscal year ended in March fell 31.7% from a year earlier to 386.4 billion yen ($2.5 billion), missing estimates.

A LSEG poll of analysts had forecast Sumitomo's net profit for the fiscal year at 504.9 billion yen. Sumitomo said its net profit for the year ending in March 2025 is forecast at 530 billion yen.

($1 = 155.8700 yen)

LONDON (Reuters) - Novo Nordisk posted on Thursday first-quarter operating profit above analyst forecasts, as the Danish drugmaker races to boost output of its hugely popular weight-loss drug Wegovy and fend off competition from Eli Lilly.

(Reporting by Maggie Fick; Editing by Terje Solsvik)

(Reuters) - ArcelorMittal, the world's second-largest steelmaker, reported on Thursday first-quarter core earnings above expectations after improved results in North America, Brazil, Europe and India.

The Luxembourg-based company said core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of $1.81 billion.

(Reporting by Shivani Tanna in Bengaluru; Editing by Jacqueline Wong)

(Reuters) - ArcelorMittal, the world's second-largest steelmaker, reported on Thursday first-quarter core earnings above expectations after improved results in North America, Brazil, Europe and India.

The Luxembourg-based company said core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of $1.81 billion.

(Reporting by Shivani Tanna in Bengaluru; Editing by Jacqueline Wong)