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☆ Netanyahu Halted Gaza Truce Talks Over 'Delusional' Hamas Demands
▼ + stars: | 2024-02-17 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

JERUSALEM (Reuters) - Israel has sent negotiators for truce talks in Cairo as requested by U.S. President Joe Biden but they did not go back for further talks because Hamas' demands were "delusional," Prime Minister Benjamin Netanyahu said on Saturday. A round of inconclusive talks in Cairo ended on Tuesday. Asked during a press conference on Saturday why Israeli negotiators did not return for further talks, Netanyahu said: "We got nothing except for delusional demands from Hamas." Regarding the possible "unilateral recognition" of a Palestinian state, Netanyahu said there could not be a "bigger prize for terrorism." Hamas chief Ismail Haniyeh has blamed Israel for a lack of progress in achieving a ceasefire deal in Gaza, the group said in a statement on Saturday.

Persons: Joe Biden, Benjamin Netanyahu, Netanyahu, Ismail Haniyeh, Israel, Haniyeh, Ari Rabinovitch, Angus MacSwan, Mike Harrison Organizations: U.S Locations: JERUSALEM, Israel, Cairo, Gaza, Jerusalem, Islam, Iran, Palestinian

☆ Turkey Destroys 25 Kurdish Militant Targets in Northern Syria, Iraq - Ministry
▼ + stars: | 2024-01-13 | by ( Jan. | At P.M. | ) www.usnews.com time to read: 1 min

ISTANBUL (Reuters) - Turkey carried out air strikes in northern Syria and Iraq, hitting 25 Kurdish militant targets, the Turkish Defence Ministry said in a statement on Saturday. The operations were conducted in northern Syria and Metina, Hakurk and Qandil regions of northern Iraq at 9 p.m. (1800 GMT), the ministry said. The defence ministry said many militants were "neutralised" - a term mostly used to mean killed - in air strikes that destroyed 25 targets consisting of caves, shelters and depots. Nine Turkish soldiers were killed in a clash on Friday with members of the outlawed Kurdistan Workers Party (PKK). (Reporting by Burcu Karakas; Editing by Mark Potter and Mike Harrison)

Persons: Burcu Karakas, Mark Potter, Mike Harrison Organizations: Turkish Defence Ministry, Kurdistan Workers Party Locations: ISTANBUL, Turkey, Syria, Iraq

☆ British troops patrol Kosovo-Serbia border as tensions remain high
▼ + stars: | 2023-11-25 | by ( Fatos Bytyci | ) www.reuters.com time to read: +3 min

[1/5] British troops part of the NATO reinforcements patrol at the Kosovo-Serbia border in Jarinje, Kosovo November 24, 2023. NATO has sent 1,000 extra troops to the region, bringing its presence there to 4,500 peacekeepers from 27 countries. British soldiers are now being deployed in 18-hour shifts in freezing conditions to make sure no weapons or armed groups enter Kosovo. Kosovo, which has an ethnic Albanian majority, declared independence from Serbia in 2008 after a guerrilla uprising and a 1999 NATO intervention. Around five percent of the population in Kosovo are ethnic Serbs, of which half live in the north and refuse to recognize Kosovo independence and see Belgrade as their capital.

Persons: Valdrin, Joss Gaddie, Jens Stoltenberg, Albin Kurti's, Fatos Bytyci, Mike Harrison Organizations: NATO, REUTERS, Atlantic Treaty Organization, Belgrade, KFOR, British Army, Reuters, Kosovo, Kosovo police, Thomson Locations: Kosovo, Serbia, Jarinje, NATO, Britain, Romania, Banjska, Balkans, Belgrade, Pristina

☆ India announces phased introduction of biogas blending for domestic use
▼ + stars: | 2023-11-25 | by ( ) www.reuters.com time to read: +1 min

Biogas, methane collected from dairy farms, is piped into a cleaning facility at the Calgren facility in Pixley, California, U.S., October 2, 2019. REUTERS/Mike Blake/File Photo Acquire Licensing RightsNEW DELHI, Nov 25 (Reuters) - India will start blending compressed biogas with natural gas to boost domestic demand and cut reliance on natural gas imports, the government said in a statement on Saturday. The mandatory phased introduction will start at 1% for use in automobiles and households from April 2025, it said. The government also aims to have 1% sustainable aviation fuel (SAF) in aircraft turbine fuel by 2027, doubling to 2% in 2028. The SAF targets will initially apply to international flights, the statement said.

Persons: Mike Blake, Nidhi Verma, Krishn Kaushik, Mike Harrison Organizations: REUTERS, SAF, Thomson Locations: Pixley , California, U.S, DELHI, India

☆ UK's next government will find tax rises hard to avoid
▼ + stars: | 2023-11-20 | by ( David Milliken | ) www.reuters.com time to read: +7 min

But tax rises will be very hard to avoid for whichever party forms the next government, says James Smith, a former Bank of England economist who is research director at the Resolution Foundation, which focuses on issues affecting low and middle earners. For earlier governments, the main way to increase tax levels has been to raise the rate of national insurance - a payroll tax paid by employers and employees - and, in the Conservatives' case, higher value-added tax. Annual GDP growth averaged 2.0% from 2010-2019, compared with 3.0% from 1997-2007. Asked on Sunday about widespread reports of looming tax cuts, Hunt told Sky News: "Everything is on the table ... Higher-than-expected inflation has boosted tax revenue and overall GDP in cash terms, giving more leeway against fiscal targets as most public services' spending budgets are fixed.

Persons: Susannah Ireland, Jeremy Hunt, Rishi Sunak's, James Smith, Smith, Britain's, It's, Carl Emmerson, Hunt, Foundation's Smith, David Milliken, Mike Harrison Organizations: REUTERS, Labour Party, Bank of England, Organisation for Economic Co, Development, Britain, Conservatives, Fiscal Studies, Foundation, Reuters, Monetary Fund, Institute for Government, Sky News, British, Reuters Graphics, Thomson Locations: City, London, Britain, Ukraine

☆ Hungary needs to change the EU, not leave it, Orban says
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

Orban again reiterated his government's opposition to starting talks with Ukraine about its accession to the EU. "Correcting the mistaken promise (by Brussels) to start talks (with Ukraine about EU membership) will also be our task, as Ukraine is light years away from the EU now," Orban said, adding that he would fight off attempts by the EU to settle migrants in Hungary. Ukraine, which applied to join the EU days after Russia's invasion in February 2022, sees membership as a top priority. The question of starting accession talks with the country will be on the agenda at an EU summit next month. With Hungary clambering out of an inflation crisis, nationalist Orban has this week started campaigning heavily for European parliamentary elections due next June.

Persons: Victor Orban, Johanna Geron, Viktor Orban, Orban, Krisztina, Kirsten Donovan, Mike Harrison Organizations: European Union, of, Caribbean, REUTERS, Rights, Fidesz, Ukraine, EU, Hungary, Thomson Locations: Caribbean States, Brussels, Belgium, Hungary, Europe, Ukraine, Kyiv

Scholz, who has visited Africa several times since taking office in late 2021, will hold bilateral talks with several African countries on Sunday, before hosting a German-African investment summit at Berlin's Marriott Hotel on Monday morning. African countries have long complained that while Europe talks about investment, China actually provides financing without any moral lecturing. Still, Chinese lending in Africa is in decline, while European interest is rising as it seeks to diversify supply chains. Nearly two thirds of German companies want to expand their business in Africa, according to a study by KPMG and the German-African Business Association. The member countries of the G20 Compact are Morocco, Tunisia, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Benin, Burkina Faso, Rwanda, Democratic Republic of Congo and Ethiopia.

Persons: jostling, Scholz, Macron, Ursula von der Leyen, Emmanuel Macron, Mark Rutte, Olaf Scholz, Sarah Marsh, Andreas Rinke, Mike Harrison Organizations: Africa, Dutch, African Union, KPMG, African Business Association, Democratic, Thomson Locations: Berlin, Africa, Macron BERLIN, Germany, Berlin's, Europe, United States, Russia, China, Asia, Morocco, Tunisia, Egypt, Senegal, Guinea, Ivory Coast, Ghana, Togo, Benin, Burkina Faso, Rwanda, Democratic Republic of Congo, Ethiopia

☆ Exclusive: Germany, France and Italy reach agreement on future AI regulation
▼ + stars: | 2023-11-18 | by ( Andreas Rinke | ) www.reuters.com time to read: +2 min

The three governments are in favour of binding voluntary commitments for both large and small AI providers in the European Union. The European Commission, the European Parliament and the EU Council are currently negotiating how the bloc should position itself in this new field. During the discussions, the European Parliament proposed that the code of conduct should initially only be binding for major AI providers, which are primarily from the U.S. However, the three EU governments have warned against this apparent competitive advantage for smaller European providers. Issues surrounding AI will be on the agenda when the German and Italian governments hold talks in Berlin on Wednesday.

Persons: Dado Ruvic, Andreas Rinke, Maria Martinez, Mike Harrison Organizations: REUTERS, Rights, Reuters, European Union, The European Commission, EU Council, Ministry, Ministry of Digital Affairs, Thomson Locations: Germany, France, Italy, Europe, Jena, Thuringia, Berlin

☆ Israel's Government Faces Pressure as Hostage Families March on Jerusalem Seeking Answers
▼ + stars: | 2023-11-18 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +3 min

"We cannot wait any longer, so we are demand(ing) them to do that now, to pay any price to bring the hostages back." Many relatives and friends of the missing fear they will come to harm in Israeli attacks on Gaza designed to destroy Hamas. The government says the offensive improves the chances of recovering hostages, perhaps via a mediated prisoner exchange. "We are marching to Jerusalem to bring her back, to shout and to say that she must be here," Adri said. "We don't have time, we don't have one hour more, we don't know if she is alive."

Persons: Janis Laizans JERUSALEM, Noam Alon, Yair Lapid, Benjamin Netanyahu, Miki Zohar, Netanyahu's, Stevie Kerem, Adriana Adri, Adri, marcher, Meirav, Romi, Dan Williams, Crispian Balmer, Mike Harrison Organizations: Qatari Locations: Jerusalem, Tel Aviv, Gaza, Israel

☆ Hostage families put pressure on Israel's government
▼ + stars: | 2023-11-18 | by ( Janis Laizans | ) www.reuters.com time to read: +3 min

"We cannot wait any longer, so we are demand(ing) them to do that now, to pay any price to bring the hostages back." Many relatives and friends of the missing fear they will come to harm in Israeli attacks on Gaza designed to destroy Hamas. Also on the march was Adriana Adri, whose 85-year-old mother-in-law was among those taken by Hamas. "We are marching to Jerusalem to bring her back, to shout and to say that she must be here," Adri said. "We don't have time, we don't have one hour more, we don't know if she is alive."

Persons: Noam Alon, Yair Lapid, Benjamin Netanyahu, Miki Zohar, Ronen, Netanyahu's, Stevie Kerem, Adriana Adri, Adri, marcher, Meirav, Romi, Dan Williams, Crispian Balmer, Mike Harrison Organizations: Palestinian, Hamas, REUTERS, Qatari, Thomson Locations: Jerusalem, Tel Aviv, Gaza, Israel

☆ Biggest protest in Spain against Catalan amnesty law draws 170,000
▼ + stars: | 2023-11-18 | by ( Raul Cadenas Susana Vera | ) www.reuters.com time to read: +3 min

The amnesty will cover about 400 people involved in the independence bid that came to a head in 2017, including separatists but also police involved in clashes with activists. The independence referendum was declared illegal by the courts and resulted in Spain's worst political crisis for decades. The amnesty will be the largest in Spain since the 1977 blanket amnesty for crimes committed during the Francisco Franco dictatorship, and the first amnesty law approved in the European Union since 1991, according to Spain's CSIC research council. Protesters, including neo-Nazi groups, have held rowdy demonstrations outside the Socialist headquarters in Madrid for 15 nights consecutively since the deal was announced. In a survey by Metroscopia in mid-September, around 70% of respondents - 59% of them Socialist supporters – said they were against the idea of an amnesty.

Persons: Catalonia's, Pedro Sanchez, Sanchez, Alberto Nunez Feijoo, Santiago Abascal, Francisco Franco, Metroscopia, –, Graham Keeley, Susana Vera, Raul Cadenas, Silvio Castellanos, Clelia Oziel, Mike Harrison Organizations: Spain's Socialists, Spain's Socialist, Authorities, People's Party, Vox, European Union, Socialist, Thomson Locations: Madrid, Spain, MADRID, Catalan, Basque, Catalonia

☆ Spain's acting PM Sanchez backs Catalan amnesty deal in bid to form government
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/ Albert Gea/File photo Acquire Licensing RightsMADRID, Oct 28 (Reuters) - Spain's acting Prime Minister Pedro Sanchez on Saturday said he supported granting a controversial amnesty to those involved in Catalonia's failed 2017 independence bid, in the hope of persuading the region's parties to back him in government. He needs the backing of Catalan separatist parties, Esquerra Republicana de Catalunya ERC and Junts, who have demanded an amnesty law that could potentially cover more than 1,400 people involved in the failed independence bid. "To continue moving forward, we must overcome all the episodes that in the past divided us and fractured our societies," Sanchez said. He said his party "looks at the problems head on", adding 80% of Catalans supported an agreement on the issue. A poll in September showed 70% of respondents - 59% of them socialist supporters - were against an amnesty.

Persons: Oriol Junqueras, Passeig de Gracia, Albert Gea, Pedro Sanchez, Catalonia's, Sanchez, Esquerra, Jessica Jones, Mike Harrison Organizations: Passeig, REUTERS, Rights, Socialist Party's Federal, Catalunya ERC, Junts, Catalans, Thomson Locations: Barcelona, Spain, Rights MADRID, Catalonia, Madrid, Catalan

☆ Ukraine holds peace formula talks in Malta, Russia absent
▼ + stars: | 2023-10-28 | by ( Christopher Scicluna | ) www.reuters.com time to read: +4 min

Without Russia, which criticized Malta for hosting the talks after smaller ones this year in Jeddah and in Copenhagen, Zelenskiy said he longed for a day when human history "is the history of peace only." Officials said they hoped for the outcome of the weekend's gathering, partly in person, partly virtual, to be agreement to hold a global peace summit later this year. No official list of delegates to the talks was issued, but officials said they included representatives of European, South American, Arab, African and Asian countries. Simon Mordue of the European Council and Bjorn Seibert of the European Commission represented the EU, the official said. The parties would take necessary preparatory steps for a possible peace summit in future with no exact date yet fixed, the official said.

Persons: Alexander Ermochenko, Volodymyr Zelenskiy, Zelenskiy, Ian Borg, Borg, Simon Mordue, Bjorn Seibert, Christopher Scicluna, Elaine Monaghan, Andrew Gray, Olena, David Evans, Mike Harrison Organizations: REUTERS, Rights, United Nations, YouTube, Malta's, European Union, United, United Arab Emirates, European, European Commission, EU, Thomson Locations: Russia, Ukraine, Donetsk, Russian, Rights VALLETTA, Malta, Israel, Kyiv, Jeddah, Copenhagen, China, Egypt, United Arab, Armenia, Mexico, Washington, Brussels

☆ Bangladesh opposition protest turns violent amid calls for PM to resign
▼ + stars: | 2023-10-28 | by ( ) www.reuters.com time to read: +3 min

[1/5] Supporters of Bangladesh Nationalist Party (BNP) wave party flag during a rally at Naya Paltan area in Dhaka, Bangladesh, October 28, 2023. Police fired tear gas and rubber bullets as clashes erupted when tens of thousands of supporters of the opposition Bangladesh Nationalist Party (BNP) gathered in the capital Dhaka, chanting slogans against the government. Dhaka Metropolitan Police spokesman Faruq Hossain told reporters one officer had been killed and 41 others were injured in clashes with protesters. Hundreds of opposition party activists have been arrested, BNP leaders said. "I came to protest the enforced disappearances, murders, and oppression that we have suffered for the past 15 years.

Persons: Mohammad Ponir Hossain, Sheikh Hasina, Faruq Hossain, Hasina, Abdul Moyeen Khan, Arif Khan, jailing, Washington, Ruma Paul, Mike Harrison Organizations: Bangladesh Nationalist Party, BNP, REUTERS, Rights, Police, Dhaka Metropolitan Police, Security, Reuters, Thomson Locations: Naya Paltan, Dhaka, Bangladesh, Rights DHAKA

Dimon and his family intend to sell 1 million of their 8.6 million shares, according to the filing. That is a tiny percentage of the shares outstanding in JPMorgan which has a market capitalization exceeding $409 billion, according to LSEG data. Dimon has no current plans to sell more stock, but could consider doing so in the future, the spokesman added. Shares of JPMorgan slid more than 3%, falling with peers Bank of America (BAC.N), Citigroup (C.N) and Wells Fargo (WFC.N). So far this year, JPMorgan shares have risen 1.4%, outperforming the S&P 500 Banks Index (.SPXBK), which has declined 18%.

Persons: JPMorgan Chase, Jamie Dimon, Dimon, Octavio Marenzi, Marenzi, they're, Schumer, Evelyn Hockstein, Wells, Brian Mulberry, Mulberry, Ben Silverman, Mike Mayo, James Gorman, Morgan Stanley, Peter Orszag, Dave Ellison, Hennessy, Scott Siefers, Piper Sandler, Siefers, Niket, Lananh Nguyen, Nupur Anand, Shilpi Majumdar, Shinjini Ganguli, Mike Harrison, Jonathan Oatis Organizations: JPMorgan, First Republic Bank, Forbes, U.S, Capitol, REUTERS, Bank of America, Citigroup, Zacks Investment Management, Wells, Wall Street, Lazard, Hennessy Funds, Banks, Thomson Locations: U.S, America, Washington , U.S, Wells Fargo, Bengaluru, Lananh, New York

Nabiullina also said the budget was a significant factor in Friday's decision. "It looks like today's interest rate hike front-loaded the tightening cycle in response to the fiscal announcements earlier this month," said Liam Peach, senior emerging markets economist at Capital Economics. The central bank's tightening cycle began this summer when inflationary pressure from a tight labour market, strong consumer demand and the budget deficit was compounded by the falling rouble. But the bank set its 2023 key rate range at 15-15.2%, suggesting rates could climb further and Nabiullina said that may be required. Sinara Investment Bank analyst Sergei Konygin said the lack of forward hawkish guidance meant it was highly likely the key rate had already reached its upper boundary.

Persons: Elvira Nabiullina, Nabiullina, Liam Peach, Dmitry Polevoy, Sergei Konygin, Vladimir Soldatkin, Elena Fabrichnaya, Alexander Marrow, Gareth Jones, Mark Trevelyan, John Stonestreet, Mike Harrison Organizations: Bank, Russia, Bank of Russia, Capital Economics, Reuters, Sinara Investment Bank, Thomson Locations: Russia, Ukraine MOSCOW, Ukraine, Moscow, Locko, London

☆ Stellantis nears deal to buy 20% of Chinese EV maker Leapmotor - Bloomberg News
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

A flag with the logo of Stellantis is seen at the company's corporate office building in Saint-Quentin-en-Yvelines near Paris, France, May 5, 2021. The partnership would also give Stellantis access to the EV maker's parts and certain technologies, according to the report. Stellantis, whose brands include Fiat and Peugeot, has only a very small presence in China, the world's largest auto market. The group and rivals such as Renault (RENA.PA) are concerned about growing competition from cheap Chinese electric cars in Europe. The companies are hammering out the final details of a transaction and an announcement could be made in the coming days, Bloomberg said.

Persons: Gonzalo Fuentes, Stellantis, Leapmotor, Akanksha, Gilles Guillaume, Giulio Piovaccari, Zhang Yan, Keith Weir, Shilpi Majumdar, Shweta Agarwal, Mike Harrison, Jan Harvey Organizations: REUTERS, Stellantis, Bloomberg, Zhejiang, HK, Fiat, Peugeot, Renault, Hong Kong, Guangzhou Automobile Group, Thomson Locations: Saint, Yvelines, Paris, France, China, Europe, Hong Kong, Bengaluru, Milan, Shanghai

☆ Italy, Europe need state-controlled cloud services - Leonardo chief
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

ROME, Oct 25 (Reuters) - Italy and other European countries need government-controlled cloud services to store sensitive data, the head of Italian defence and electronics firm Leonardo (LDOF.MI) said on Wednesday, calling it "one of the key issues of our future". "In my opinion, a safe country needs a government cloud, at least for financial, health and defence data," Chief Executive Roberto Cingolani told a hearing at the defence committee of the Italian lower house of parliament. First of all creating a (national) government cloud. Then understanding that these (national) government clouds need to become European government clouds," he said. Leonardo, a listed company controlled by the Italian government, offers cloud services to the Italian state through a consortium including Telecom Italia (TLIT.MI), Italian state lender CDP and state-owned IT firm Sogei.

Persons: Leonardo, LDOF.MI, Roberto Cingolani, Cingolani, Alvise Armellini, Mike Harrison Organizations: Telecom Italia, Thomson Locations: Italy, Europe

☆ Carrefour confident over year-end even as Q3 sales growth slows
▼ + stars: | 2023-10-25 | by ( Dominique Vidalon | ) www.reuters.com time to read: +2 min

[1/2] A customer pushes a shopping trolley as she shops in a Carrefour supermarket in Montesson near Paris, France, September 13, 2023. Third-quarter sales reached 23.63 billion euros ($25 billion), marking like-for-like growth of 9% which was less than 10.3% growth in the second quarter, Carrefour said, adding it confirmed a cost savings target of 1 billion euros for the year. The sales growth moderation reflected a slowdown in food inflation in Carrefour's core markets of France and Brazil. In France, hypermarket sales rose 4.2% in the third quarter of 2023 compared with a 6.6% rise in the second quarter of 2023. The company said it had achieved 664 million euros out of its 800 million euros buyback programme for 2023.

Persons: Sarah Meyssonnier, Dominique Vidalon, Sudip Kar, Gupta, Mike Harrison Organizations: REUTERS, Rights, Carrefour, Thomson Locations: Carrefour, Montesson, Paris, France, Brazil

☆ UK's Sunak says AI risks must be addressed, ahead of key safety summit
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

British Prime Minister Rishi Sunak leaves 10 Downing Street to attend Prime Minister's Questions at the Houses of Parliament in London, Britain, October 18, 2023. Sunak wants Britain to be a global leader in AI safety, carving out a role after Brexit between the competing economic blocs of the United States, China and the European Union in the rapidly growing technology. The UK government will also publish a report on "frontier" AI, the cutting-edge general-purpose models that the summit will focus on. The report will inform discussions about risks such as societal harms, misuse and loss of control, the government said. China is expected to attend, according to a Financial Times report, while European Commission Vice President Vera Jourova has received an invitation.

Persons: Rishi Sunak, Clodagh, Sunak, Kamala Harris, Demis Hassabis, Vera Jourova, Paul Sandle, Mike Harrison Organizations: British, REUTERS, Safety, European Union, Google, Financial Times, European, Thomson Locations: London, Britain, Bletchley, United States, China, Canada, France, Germany, Italy, Japan, Hiroshima

[1/3] French President Emmanuel Macron, left, shakes hands with Israel's President Isaac Herzog in Jerusalem, Tuesday, Oct. 24, 2023. ... Acquire Licensing Rights Read moreSummary Macron visits IsraelProposes that anti-Islamic State coalition fights HamasGives no details on planJERUSALEM, Oct 24 (Reuters) - French President Emmanuel Macron proposed on Tuesday that an international coalition fighting against Islamic State in Iraq and Syria be widened to include the fight against the Palestinian militant group Hamas in Gaza. Macron gave no detail on how the U.S.-led coalition of dozens of countries, of which Israel is not a member, could be involved. Macron, who warned against the risks of a regional conflict, also said the fight against Hamas "must be without mercy but not without rules". The French president, who met families of French victims at Tel Aviv airport, said freeing nine French hostages was a priority for France.

Persons: Emmanuel Macron, Isaac Herzog, Israel, Macron, Benjamin Netanyahu, it's, Mahmoud Abbas, Karim Emile Bitar, Tassilo Hummel, Michael Georgy, Michel Rose, Ingrid Melander, Kevin Liffey, Mike Harrison, Robert Birsel Organizations: Islamic, Palestinian, Hamas, Israeli, Daesh, France, West Bank, IRIS, Thomson Locations: Jerusalem, Israel, Gaza, JERUSALEM, Islamic State, Iraq, Syria, U.S, France, Daesh, Tel Aviv, Jordan's, Amman, Ramallah, Beirut, Paris

☆ World Bank's Banga says geopolitics pose biggest, but not the only, risk to world economy
▼ + stars: | 2023-10-24 | by ( Jorgelina Do Rosario | Thomson Reuters | Jorgelina Do Rosario Is Emerging Markets Correspondent At Reuters Based In London | ) www.reuters.com time to read: +1 min

LONDON, Oct 24 (Reuters) - Geopolitical tensions heightened by the Middle East conflict pose the biggest threat to the world economy right now but other risks are also at play, World Bank President Ajay Banga said on Tuesday. So yes, that is right there lurking in the shadows," Banga said, referring to a rise in the benchmark for borrowing costs around the world which further threaten an economic slowdown. Banga said that while everything in the developed world looks better than had been expected some time ago, "I think that we're at a very dangerous juncture." He said private sector investment is needed in developing economies but political risks in some of these countries remain a barrier. There is not enough money in government coffers or even in the multilateral development banks, we need to involve the private sector with their capital," he said.

Persons: Ajay Banga, Banga, Jorgelina, Karin Strohecker, Mike Harrison, Susan Fenton Organizations: World, Treasury, Future Investment Initiative, Thomson Locations: Riyadh, Israel, Gaza, Rosario

☆ India's fiscal position remains solid, headline inflation to stay within target - ministry
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

A labourer carries a sack at a wholesale market in the old quarters of Delhi, India, June 7, 2023. REUTERS/Anushree Fadnavis/File photo Acquire Licensing RightsNEW DELHI, Oct 23 (Reuters) - India's fiscal position remains solid with steady revenue growth, and headline inflation is likely to remain within the target band, the government said on Monday. "Rationalisation of revenue expenditure has enabled the front-loading of capital expenditure while keeping the market borrowing programme tied to the budgeted target," the report said. Headline inflation was also likely to remain within the target band, the report said, due to the downward trajectory observed in core inflation. While sluggish global demand is affecting India's trade, this is projected to recover in the second half, said the report adding that India's forex reserve position is "comfortable" and external account "robust".

Persons: Anushree, Downside, Nikunj Ohri, Shilpa Jamkhandikar, Christopher Cushing, Mike Harrison Organizations: REUTERS, Reuters, Thomson Locations: Delhi, India, DELHI

The draft AI rules have to be agreed by the European Parliament and European Union member states. A fourth trilogue meeting will be held on Tuesday, a day after EU lawmakers are scheduled to discuss their negotiating stance around foundation models and high-risk AI systems, sources said. Discussions could then be further de-railed by the European parliament elections in June. The EU started working on the draft AI Act in 2021. In May this year, the European parliament agreed on draft legislation including new rules around the use of facial recognition, biometric surveillance, and other AI applications.

Persons: Dado Ruvic, Thierry Breton, Dragoș Tudorache, Brando Benifei, Supantha Mukherjee, Foo Yun Chee, Matt Scuffham, Mike Harrison Organizations: REUTERS, Rights, European Union, Reuters, EU, Thomson Locations: Rights STOCKHOLM, BRUSSELS, trilogues, Spain, Stockholm, Brussels

☆ IMF sees recent yen falls as reflecting fundamentals
▼ + stars: | 2023-10-14 | by ( Leika Kihara | ) www.reuters.com time to read: +1 min

Banknotes of Japanese yen are seen in this illustration picture taken September 23, 2022. "On the yen, our sense is that the exchange rate is driven pretty much by fundamentals. As long as interest rate differentials remain, the yen will continue to face pressure," Sanjaya Panth, deputy director of the IMF's Asia and Pacific Department, told reporters. Authorities in Japan are facing renewed pressure to combat a sustained depreciation in the yen , as investors bet on higher-for-longer U.S. interest rates while the Bank of Japan remains wedded to its super low interest rate policy. "I don't think any of the three considerations are existing right now," he said, when asked whether recent yen falls call for authorities to intervene in the currency market.

Persons: Florence Lo, Panth, Leika Kihara, Emelia Sithole, Mike Harrison Organizations: REUTERS, Rights, Monetary Fund, Pacific Department, Authorities, Bank of Japan, IMF, Thomson Locations: Rights MARRAKECH, Morocco, Asia, Japan

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