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☆ U.S. wins global leadership approval over China when a Democrat is president, Gallup analysis shows
▼ + stars: | 2024-05-06 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Saul Loeb | Afp | Getty ImagesMost countries prefer alignment with the U.S. over China when the White House is occupied by a Democrat, according to Gallup poll data going back to 2007. "Significantly more countries seem to prefer U.S. leadership over Chinese leadership, at least under Democratic administrations," Gallup said in its report released Monday, adding that a Republican executive comes with a "net approval disadvantage." According to Gallup, the "bounce-back" under the Biden administration suggests that the U.S.'s net approval advantage over China is resilient, especially when accounting for more strongly aligned groups. China's favorability peaked in 2007 as it emerged on the global stage, but increased familiarity with Beijing has not boosted its appeal, Gallup said. Meanwhile, U.S. leadership has enjoyed a general net approval rate under the Biden and Obama administrations, compared with net disapproval rates under the Trump and last two years of the Bush leadership, the report showed.

Persons: Xi Jinping, Joe Biden, Saul Loeb, Gallup, Trump, George Bush, Barack Obama, Biden, Obama, Bush Organizations: Afp, Getty, U.S, Democratic, Republican, Gallup, Biden, Trump, Pew Research Locations: Nusa Dua, Indonesian, Bali, China, Beijing, Trump

☆ Saudi Arabia offers tax breaks for companies moving regional HQs to Riyadh
▼ + stars: | 2023-12-05 | by ( ) www.reuters.com time to read: +2 min

Saudi Minister of Finance Mohammed Bin Abdullah Al-Jadaan attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 15 July 2022. The programme has so far attracted 200 foreign companies, Saudi Investment minister Khaled Al-Falih was quoted as saying. "The new tax exemptions granted on regional headquarters activities will give .... international companies in the kingdom more clarity of vision and stability," Saudi Finance Minister Mohammed Al-Jadaan said, according to SPA. Foreign companies have scrambled to meet the Saudi condition to relocate their regional headquarters after the kingdom said in October the deadline will be enforced. Foreign firms have for years used neighbouring United Arab Emirates as a springboard for their regional operations, including for Saudi Arabia.

Persons: Finance Mohammed Bin Abdullah Al, Jadaan, Jan, Prince Mohammed bin Salman, Khaled Al, Falih, Mohammed Al, ” Jadaan, Aziz El, Bill Berkrot Organizations: Finance, Ministers, Central Bank Governors, Rights, United, United Arab Emirates, International, Saudi Investment, Saudi Finance, Games, , Thomson Locations: Saudi, Nusa Dua, Bali, Indonesia, Rights RIYADH, Saudi Arabia, United Arab, United Arab Emirates

☆ Putin Says We Must Think How to Stop 'The Tragedy' of War in Ukraine
▼ + stars: | 2023-11-22 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

By Guy Faulconbridge and Vladimir SoldatkinMOSCOW (Reuters) -Russian President Vladimir Putin told the leaders of the Group of Twenty (G20) on Wednesday that it was necessary to think about how to stop "the tragedy" of the war in Ukraine, some of his most placatory remarks to date about the conflict. "Yes, of course, military actions are always a tragedy," Putin told the virtual G20 meeting called by Indian Prime Minister Narendra Modi. "And of course, we should think about how to stop this tragedy," Putin said. Putin used the word "war" to describe the conflict instead of the current Kremlin term of "special military operation". "I understand that this war, and the death of people, cannot but shock," Putin said, before setting out the Russian case that Ukraine had persecuted people in eastern Ukraine.

Persons: Guy Faulconbridge, Vladimir Soldatkin MOSCOW, Vladimir Putin, Putin, Narendra Modi, Joe Biden, Sergei Lavrov, Vladimir Soldatkin, Gareth Jones, Alex Richardson Organizations: Kremlin, Indian, Ukraine, United Nations, Human, West, Belfer, Harvard's Kennedy School, U.S Locations: Ukraine, Russia, United States, Ukraine's, Crimea, Russian, Palestine, Gaza, Ukrainian, West, Moscow, Israel, Washington, New Delhi, Nusa Dua, Indonesia, Osaka, Japan

[1/2] Russian President Vladimir Putin and Deputy Prime Minister Alexei Overchuk attend the G20 virtual summit via a video link in Moscow, Russia, November 22, 2023. "Yes, of course, military actions are always a tragedy," Putin told the virtual G20 meeting called by Indian Prime Minister Narendra Modi. "And of course, we should think about how to stop this tragedy," Putin said. Putin used the word "war" to describe the conflict instead of the current Kremlin term of "special military operation". "I understand that this war, and the death of people, cannot but shock," Putin said, before setting out the Russian case that Ukraine had persecuted people in eastern Ukraine.

Persons: Vladimir Putin, Alexei Overchuk, Mikhail Klimentyev, Putin, Ukraine Putin, Narendra Modi, Joe Biden, Sergei Lavrov, Vladimir Soldatkin, Guy Faulconbridge, Gareth Jones, Alex Richardson Organizations: Sputnik, REUTERS Acquire, Ukraine, Kremlin, Indian, United Nations, Human, West, Belfer, Harvard's Kennedy School, U.S, Thomson Locations: Moscow, Russia, Kremlin, Gaza, Ukraine MOSCOW, Ukraine, United States, Ukraine's, Crimea, Russian, Palestine, Ukrainian, West, Israel, Washington, New Delhi, Nusa Dua, Indonesia, Osaka, Japan

☆ Russia relishes divisions between China and the U.S., pouring cold water on Xi-Biden talks
▼ + stars: | 2023-11-15 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +8 min

Russian President Vladimir Putin speaks during his press conference at the Konstantin Palace on July 29, 2023 in Saint Petersburg, Russia. Russian media have already reveled in pouring cold water on the Asia-Pacific Economic Cooperation (APEC) summit where Xi and Biden are due to meet Wednesday. Russian President Vladimir Putin was not invited due to U.S. sanctions so Deputy Prime Minister Alexei Overchuk is representing Russia at the summit. A range of Russian newspapers including Kommersant, Izvestia, Argumenty i Fakty, Nezavisimaya Gazeta and Komsomolskaya Pravda did not feature any news on the APEC summit or Xi-Biden talks. China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022.

Persons: Vladimir Putin, Konstantin, Xi Jinping, Joe Biden, Xi, Biden, Katherine Tai, Tai, David Paul Morris, Xi's, Alexei Overchuk, Dmitry Peskov, Kamala Harris, Kent Nishimura, Komsomolskaya, Putin, — Xi, Sergei Guneyev, Ian Bremmer, Saul Loeb Organizations: Getty, U.S, Economic Cooperation, Novosti, APEC, U.S . Trade, Russian Federation, San Francisco International Airport, American, Bloomberg, Getty Images Bloomberg, Israel, Kremlin, SAN FRANCISCO, Merchant Exchange Club, Tass, Kommersant, Izvestia, Gazeta, Komsomolskaya Pravda, Sputnik, AFP, West, Analysts, Eurasia Group, China's, Afp Locations: Saint Petersburg, Russia, Russian, San Francisco, China, Beijing, Washington, Moscow, Asia, United States, San Francisco , California, Ukraine, Pacific, U.S, CALIFORNIA, Taiwan, Nusa Dua, Indonesian, Bali

☆ China's plan to seize on global chaos and supplant the US may be working
▼ + stars: | 2023-11-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +8 min

China's Xi Jinping and President Joe Biden are meeting in San Francisco at the APEC summit. AdvertisementPresident Joe Biden seems keen to ease tensions with his main global rival, China's leader Xi Jinping, against a backdrop of global chaos and conflict. Russia's President Vladimir Putin and Chinese President Xi Jinping pose with heads of delegations participating in the Third Belt and Road Forum in Beijing on October 18, 2023. Sun, the Stimson Center expert, said Xi will be seeking to use the meeting to burnish his image as a global statesman and head off China's economic woes. But whatever agreements Xi brokers with the US president it's unlikely to change his core mission: Chinese global dominance.

Persons: China's Xi Jinping, Joe Biden, —, Xi Jinping, SERGEI, Jonathan Ward, Vladimir Putin, Biden, Xi, Putin, GRIGORY SYSOYEV, Ward, Yun Sun, Jeremy Chan, SAUL LOEB, Xi's, it's Organizations: APEC, Service, Economic Cooperation, Getty Images, Atlas Group, Russia's, Forum, Stimson Center, Eurasia Group, Getty Locations: San Francisco, China, Ukraine, Asia, East, Russia, Iran, Getty Images China, Beijing, Gaza, Israel, Palestine, Europe, Ethiopia, Argentina, Nusa Dua, Bali, Taiwan

☆ As Biden and Xi gear up for a high-stakes meeting, experts have low expectations
▼ + stars: | 2023-11-12 | by ( Megan Lebowitz | ) www.cnbc.com time to read: +8 min

Senior U.S. administration officials detailed a handful of agenda items during a briefing with reporters. "We're not talking about a long list of outcomes or deliverables," a senior administration official told reporters. Even in recent days, Chinese officials were hesitant to confirm that Xi would attend the meeting with Biden. Biden and Xi's meeting also comes in the lead-up to Taiwan's 2024 presidential election in January, followed by the U.S. election. "We've been clear publicly and privately that interference in the Taiwan election is something we're extremely concerned about," a senior administration official said.

Persons: Xi Jinping, Joe Biden, Xi, Colleen Cottle, Jude Blanchette, They've, Thomas Fingar, Fingar, Biden, Wang Wenbin, Karine Jean, Pierre, Jean, Oriana Skylar Mastro, Ely Ratner, Ratner, We've, we've, Li Shangfu, Li, David Sacks, Sacks, Xi's Organizations: Global China, Atlantic Council, Senior, Center for Strategic, International Studies, Stanford University, National Intelligence Council, White, U.S ., American Enterprise Institute, NBC News, Defense, Biden, China, Council, Foreign Relations, U.S, Washington Locations: Nusa Dua, Indonesian, Bali, U.S, China, Taiwan Strait, South China, San Francisco, People's Republic of China, Taiwan

☆ The UK is gearing up for a pivotal summit on AI. Here's what you need to know
▼ + stars: | 2023-10-31 | by ( Ryan Browne | ) www.cnbc.com time to read: +10 min

Where it's being heldThe AI summit will be held in Bletchley Park, the historic landmark around 55 miles north of London. What it seeks to addressThe main objective of the U.K. AI summit is to find some level of international coordination when it comes to agreeing some principles on the ethical and responsible development of AI models. The British government wants the AI Summit to serve as a platform to shape the technology's future. They say that, by keeping the summit restricted to only frontier AI models, it is a missed opportunity to encourage contributions from members of the tech community beyond frontier AI. "By focusing only on companies that are currently building frontier models and are leading that development right now, we're also saying no one else can come and build the next generation of frontier models."

Persons: Rishi Sunak, Peter Nicholls, Rishi Sunak's, ChatGPT, Getty, codebreakers, Alan Turing, It's, Kamala Harris, Saul Loeb, Brad Smith, Sam Altman, Global Affairs Nick Clegg, Ursula von der, Emmanuel Macron, Joe Biden, Justin Trudeau, Olaf Scholz, Sunak, —, Xi Jinping, Biden, James Manyika, Manyika, Mostaque, we're, Sachin Dev Duggal, Carl Court Organizations: Royal Society, Carlton, Getty, U.S, Microsoft, Coppin State University, AFP, Meta, Global Affairs, Global Affairs Nick Clegg U.S, Ministry of Science, Technology European, Joe Biden Canadian, Britain, Afp, Getty Images Washington, U.S ., Google, CNBC, Big Tech Locations: London, China, Bletchley Park, British, America, Baltimore , Maryland, Chesnot, U.S, Nusa Dua, Indonesian, Bali, EU

☆ Biden will meet with China's Xi Jinping next month, White House says
▼ + stars: | 2023-10-31 | by ( Amanda Macias | ) www.cnbc.com time to read: +3 min

China's President Xi Jinping and U.S. President Joe Biden at the G20 Summit in Nusa Dua on the Indonesian island of Bali on Nov. 14, 2022. WASHINGTON — President Joe Biden will meet with Chinese President Xi Jinping next month, the White House announced on Tuesday. "Intense competition means intense diplomacy," White House press secretary Karine Jean-Pierre said at a press briefing. Read more: White House restricts U.S. investment in some Chinese tech, citing national security concernsThe meeting comes as the White House works to rush security assistance and humanitarian aid to Israel amid an intensifying conflict with Hamas. Earlier this month, Xi and Putin met in Beijing to discuss additional ways to deepen their relationship.

Persons: Xi Jinping, Joe Biden, Karine Jean, Pierre, Jean, Janet Yellen, Antony Blinken, Gina Raimondo, Bill Burns, Jake Sullivan, John Kerry, Read, Trump, Xi, Vladimir Putin's, Biden, Putin, Volodymyr Zelenskyy Organizations: WASHINGTON, White, Economic Cooperation, National, Hamas, . Locations: Nusa Dua, Indonesian, Bali, Asia, San Francisco, China, Israel, U.S, Ukraine, Russian, Beijing, Russia, United States, Iran, North Korea

☆ Western companies are at risk of losing the biggest market race of all to China: Op-ed
▼ + stars: | 2023-10-31 | by ( Dewardric L. Mcneal | ) www.cnbc.com time to read: +6 min

In fact, it's well past the point when CEOs should have started recalibrating their approach to China. But when it comes to de-risking, there is now the risk it's one more race where we risk falling behind to China. There's a limited window available for foreign businesses in China's market to de-risk in a way that protects their shareholders' interests. On multiple occasions, we've witnessed foreign companies get this calculus and timing wrong. These examples underscore the risk of underestimating the complexities of the Chinese market and losing ground to local competitors over time.

Persons: Joe Biden, Xi Jinping, SAUL LOEB, Trump's, Xi Jinping's, There's, we've, Didi Chuxing Organizations: AFP, Getty, U.S, U.S ., Baidu, Huawei's Locations: Nusa Dua, Bali, China, U.S, China's

U.S. President Joe Biden and China's President Xi Jinping on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on Nov. 14, 2022. President Joe Biden and Chinese president Xi Jinping are expected to meet next month on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco, according to two U.S. officials familiar with the planning. The two leaders haven't spoken since they last met on the sidelines of a summit of the Group of 20 economies in Bali, Indonesia, in November. One of the sources said there was an "agreement in principle" for Biden and Xi to meet in San Francisco. Biden also met with China's top diplomat for about an hour.

Persons: Joe Biden, Xi Jinping, Biden, Xi, Wang Yi, Jake Sullivan Organizations: Economic Cooperation, State, White House Locations: Nusa Dua, Bali, Asia, San Francisco, Bali , Indonesia, Washington, Beijing, Ukraine

☆ More work to do in tackling non-bank risks, says FSB's Knot
▼ + stars: | 2023-10-12 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Klaas Knot, chair of the Financial Stability Board, arrives for the G20 leaders' summit in Nusa Dua, Bali, Indonesia, November 15, 2022. "Why did we not see these pockets of hidden leverage? That, I think, is still the main target of our work in the NBFI space going forward," Knot said. "In general the massive change in the interest rate environment, so far so good, there has not been any systemic rippling of negative effects into the financial sector," Knot told the Institute of International Finance annual meeting. Meanwhile, AI could have tangible benefits and present some risks to the financial system, he said.

Persons: Klaas, Willy Kurniawan, Klaas Knot, Huw Jones, Alex Richardson, Alexander Smith, Jane Merriman Organizations: Board, REUTERS, UBS Group, Silicon Valley Bank, UBS, Swiss, Credit Suisse, European Central Bank, policymaker, Institute of International Finance, Bank of England, Authority, ECB, Thomson Locations: Nusa Dua, Bali, Indonesia, Silicon, Dutch

A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. U.S. Treasury Secretary Janet Yellen has said China, the world's largest sovereign creditor, has been a roadblock to debt relief. IMF member countries will discuss the crisis lender's shareholding structure at annual meetings in Morocco next week. The U.S. is pushing instead for IMF member countries to agree to contribute more funds to boost lending firepower, but keeping the U.S.-dominated shareholding structure unchanged. Without naming China, he said this would include doing more on debt relief and providing more exchange rate transparency -- longstanding Treasury criticisms of Beijing.

Persons: Johannes P, Nancy Lee, Janet Yellen, Lee, Jay Shambaugh, Shambaugh, Andrea Shalal, David Lawder, Andrea Ricci Organizations: IMF, International Monetary Fund, REUTERS, Rights, International Monetary, U.S, Treasury, Center for Global Development, U.S . Treasury, Thomson Locations: Nusa Dua, Bali, Indonesia, U.S, China, Morocco, India, Brazil, Beijing

Expectations of resilient coal demand in China, the world's largest consumer and importer of the fuel, could delay a peak in global coal use, envisaged under climate goals, as miners supply coal for longer at competitive prices, traders say. Six Chinese traders Reuters spoke to said they expected harsh weather to drive overall imports higher in the last quarter of 2023. So I think Chinese demand growth is going to steady at where it is," a seventh trader from a large international trading firm said. It was the first global conference for many Chinese traders whose overseas travel was restricted due to strict Covid restrictions. Echeverri said a fall in average calorific value - an indicator of quality - of domestically mined coal was also contributing to the higher imports.

Persons: Rodrigo Echeverri, Ramli Ahmad, Ombilin Energi, Ahmad, Echeverri, Sudarshan, Ros Russell Organizations: Traders, Indonesia, Noble Research, Thomson Locations: NUSA DUA, Indonesia, China, Bali's Nusa Dua

☆ Leaders in Southeast Asia say they want to be friends with both the U.S. and China
▼ + stars: | 2023-09-15 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

"All the countries in Southeast Asia, including Singapore, are friends with both China and the US. We have close links with both countries and we want to maintain those links," said Singapore's Deputy Prime Minister Lawrence Wong. But that consensus is over," Wong said Wednesday at the 10th Milken Institute Asia Summit in Singapore. "This idea where you have to be either with China or the United States? "We, as ASEAN, have a role to play in engaging both U.S. and China, and we appeal to them to reduce tensions."

Persons: Joe Biden, Xi Jinping, Lawrence Wong, Wong, Anwar Ibrahim, Anwar Organizations: SINGAPORE —, Milken, Milken Institute Asia Summit, Malaysia's, ASEAN Locations: Nusa Dua, Bali, SINGAPORE, SINGAPORE — The U.S, China, Southeast Asia, Singapore, United States, Malaysia

A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. "Uganda's Anti-Homosexuality Act fundamentally contradicts the World Bank Group's values. World Bank President Ajay Banga, who took office in June after the Ugandan law was enacted, has come under pressure to respond to the Ugandan law. The existing portfolio will continue to disburse funds, even as new lending is put on hold, a World Bank source said. It said the IFC and MIGA would also implement additional measures to "ensure inclusion and non-discrimination as needed."

Persons: Johannes P, Ajay Banga, Banga, Kanishka Singh, Andrea Shalal, Leslie Adler, Jonathan Oatis, Richard Chang Organizations: Bank, International Monetary Fund, REUTERS, United Nations, World Bank, International Development Association, International Finance Corporation, Multilateral Investment Guarantee Agency, Reuters, IFC, Thomson Locations: Nusa Dua, Bali, Indonesia, Uganda, Washington

☆ Half of Americans polled see China as the biggest threat to the U.S., says Pew
▼ + stars: | 2023-07-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +3 min

Saul Loeb | Afp | Getty ImagesHalf of Americans polled widely view China as the biggest threat facing the U.S., a new Pew research center survey revealed. In an open-ended question, Americans were asked to name any country as the greatest threat to the U.S. — 50% named China. While it's difficult to compare responses from year to year, Pew noted that "Americans have not always seen China as the top threat to the United States." "When we last asked a question of this sort in 2019, equal shares of Americans pointed to China and Russia as the greatest threat facing their country," it said. The survey reflects Americans' view of China have become more negative over time — particularly since 2020, added Pew.

Persons: Joe Biden, Xi Jinping, Saul Loeb, Pew, Laura Clancy, we've, Pew's Clancy, Henry Kissinger, Kissinger, Biden, Antony Blinken, Janet Yellen, John Kerry Organizations: Afp, Getty, Pew, CNBC, U.S . Locations: Nusa Dua, Bali, China, Russia, United States, U.S, Ukraine, Taiwan Strait, Beijing, Washington

☆ Australia to decide fate of central bank chief in July
▼ + stars: | 2023-06-22 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

[1/2] Governor of the Reserve Bank of Australia (RBA) Philip Lowe attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Treasurer Jim Chalmers told reporters on Thursday he would announce his decision on Reserve Bank of Australia (RBA) Governor Philip Lowe's future in coming weeks, but would not be drawn on whether Lowe would keep his job. The clamour of criticism, particularly in the media, led Chalmers to launch an independent review of the central bank which recommended sweeping changes in its operation and the way policy was formed. "Obviously, the Reserve Bank Governor needs to be well placed to implement the recommendations of the review and to take the Reserve Bank into the future," said Chalmers. Possible replacements being touted are the current deputy governor Michele Bullock, Treasury official Jenny Wilkinson and former Bank of Canada official Carolyn Wilkins, who also led the review into the RBA.

Persons: Philip Lowe, Jim Chalmers, Philip Lowe's, Lowe, I’m, we'd, Chalmers, Michele Bullock, Jenny Wilkinson, Carolyn Wilkins, Wayne Cole, Renju Jose, Leslie Adler Organizations: Reserve Bank of Australia, Ministers, Central Bank Governors, Reserve Bank Governor, Bank, Treasury, Bank of Canada, Thomson Locations: Nusa Dua, Bali, Indonesia

☆ India's Modi says there is 'unprecedented trust' between India, US - WSJ
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] Indian Prime Minister Narendra Modi speaks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. Dita Alangkara/Pool via REUTERS/File PhotoJune 19 (Reuters) - Indian Prime Minister Narendra Modi said on Monday that ties between New Delhi and Washington are stronger and deeper than ever, in an interview with the Wall Street Journal. "India deserves a much higher, deeper and wider profile and a role," Modi said in the interview, ahead of his visit to the U.S. this week that is billed as a turning point for bilateral relations. Reporting by Lavanya Ahire in Bengaluru; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Narendra Modi, Dita Alangkara, Modi, Lavanya, Muralikumar Organizations: Indian, Wall Street, Thomson Locations: Nusa Dua, Bali, Indonesia, New Delhi, Washington, India, Bengaluru

☆ S.Korea's Yoon, India's Modi agree to step up cooperation on defence, bio-health sectors
▼ + stars: | 2023-05-20 | by ( ) www.reuters.com time to read: 1 min

[1/2] FILE PHOTO-Indian Prime Minister Narendra Modi speaks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. Dita Alangkara/Pool via REUTERSSEOUL, May 20 (Reuters) - South Korean President Yoon Suk Yeol held talks with Indian Prime Minister Narendra Modi on Saturday and agreed to enhance cooperation on defence and bio-health sectors, Yoon's office said. The meeting was held on the sidelines of the G7 summit in Hiroshima, Japan as South Korea and India were invited to the summit as guest countries. Reporting by Soo-hyang Choi; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ IMF still concerned by banking sector wobbles - chief economist
▼ + stars: | 2023-05-09 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File PhotoPARIS (Reuters) - The International Monetary Fund remains concerned about recent turbulence in the banking sector despite actions by the U.S. and Swiss authorities to deal with troubled banks on their watch, its chief economist Pierre-Olivier Gourinchas said on Monday. Speaking to journalists in Paris, he added that “the story is not over” and that EU banks were not immune to problems as long as the bloc did not go further to complete long-discussed mechanisms to deal with failed banks.

☆ South Korea's finance minister says country is at a 'turning point' in relations with Japan
▼ + stars: | 2023-05-03 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, on Indonesia resort island of Bali, on July 16, 2022. (Photo by MADE NAGI / POOL / AFP) (Photo by MADE NAGI/POOL/AFP via Getty Images)South Korea's finance minister says the nation sees is at a "turning point" in economic relations with Japan. Speaking to CNBC's Chery Kang at the Asian Development Bank's annual meeting in Incheon, South Korea's finance minister and deputy prime minister Choo Kyung-ho praised Tokyo's recent decision to restore South Korea to a list of preferred trade partners. Choo said the recent talks with Suzuki will lead to further economic cooperation between the two U.S. allies. "The recent bilateral summit has opened things up for improvement.

☆ Biden, India's Modi to meet Pacific island leaders, Papua New Guinea PM says
▼ + stars: | 2023-04-30 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

[1/3] U.S. President Joe Biden, left, and India Prime Minister Narendra Modi talks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. Dita Alangkara/Pool via REUTERSSYDNEY, April 30 (Reuters) - U.S. President Joe Biden and his Indian counterpart, Narendra Modi, will join Pacific Islands leaders next month for a "historic" future-oriented meeting, Papua New Guinea Prime Minister James Marape said on Sunday. "This is a historic first and at the same time a 'going forward' futuristic meeting of global superpowers, in the biggest country in the Pacific," Marape said in a statement. Papua New Guinea is being courted by China and by the U.S. and its allies, as Marape seeks to boost foreign investment. Papua New Guinea is negotiating security pacts with the United States and Australia, and Marape has been invited to visit Beijing this year.

[1/2] Indian Prime Minister Narendra Modi speaks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. The amendments to the country's IT rules make it obligatory on platforms "not to publish, share or host fake, false or misleading information" about the government. The Guild again urges the ministry to withdraw this notification and conduct consultations with media organisations and press bodies." Digital rights organisation Internet Freedom Foundation (IFF) said undefined terms such as "fake", "false" and "misleading" in the amendment make them susceptible to misuse by authorities. Reporting by Sudipto Ganguly and Shivam Patel Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Nigeria gets World Bank funding for social program ahead of fuel subsidy cut
▼ + stars: | 2023-04-05 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

[1/2] A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. ChristoABUJA, April 5 (Reuters) - Nigeria has secured $800 million from the World Bank to scale up its national social program ahead of the removal of its costly but popular subsidies on petrol in June, Finance Minister Zainab Ahmed said on Wednesday. Ahmed said the government was considering cash transfers and mass transit buses for workers to ease the pain of the subsidy removal on the most vulnerable segment of its population. She added that the country has registered ten million households, which is equivalent to 50 million people on its vulnerable list. Ahmed said discussions were going on at different levels of government and with members of the incoming administration of President-elect Bola Tinubu on the subsidy removal.

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