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☆ Global onion prices could be set to rise with India slapping an export tax on domestic production
▼ + stars: | 2023-08-22 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

A labourer sorting out onions at a vegetable market in New Delhi on May 30, 2023. The new levy announced Saturday acts to ensure domestic availability and cool inflation, and is effective immediately until December 31, according to the country's Ministry of Finance. Global onion prices are likely to get a positive price cue on account of India's decision. India's government in July also banned the exports of non-basmati white rice in a bid to ensure sufficient domestic supplies. "The government would like to rein [in] prices and ensure sufficient availability in the domestic market.

Persons: Arun SANKAR, ARUN SANKAR, Arun Sankar, Pushan Sharma, Samarendu Mohanty Organizations: Getty, Afp, country's Ministry of Finance, India's Department of Consumer Affairs, CRISIL Market Intelligence, P, Indian Meteorological Department, Pushan Sharma CRISIL, Intelligence, Potato Center, CNBC Locations: New Delhi, AFP, India, Maharashtra, Karnataka, oversupply, Bangladesh, Malaysia, Sri Lanka

☆ How Russia is evading sanctions to keep $10 billion worth of seized Boeing and Airbus planes flying
▼ + stars: | 2023-07-31 | by ( Taylor Rains | ) www.businessinsider.com time to read: +4 min

Russia seized some 500 leased Boeing and Airbus airliners after invading Ukraine. Western sanctions against Russia have taken a toll on the country's aviation sector — forcing the country to get creative to keep its planes flying. This included closing US, EU, and other allied airspace, preventing planemakers like Boeing and Airbus from sending spare parts to Russia, and stopping countries like Turkey from refueling Russian planes. But, the illegal import schemes are not the only methods keeping Russia's airlines alive. Buying off seized jets using rainy-day moneyAn Aeroflot Boeing 777-300ER parked at the gate at Los Angeles International Airport before the war.

Persons: It's, Vladimir Putin, Denis Kabelev, lessors, Fabrizio Gandolfo, —, Igor Chalik, Russia's NWF Organizations: Boeing, Airbus, Russia, Reuters, Aeroflot, S7 Airlines, Aeroflot Boeing, Los Angeles International Airport, Getty, TASS, Wealth Fund, lessors . Leasing, Airlines, Ural Airlines, Aerotime, country's Ministry of Finance Locations: Russia, Ukraine, EU, Turkey, Iran, China, Russia's, Kremlin, lessors, Russian

☆ Default-stricken Zambia's debts creep higher
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

LONDON, March 29 (Reuters) - Default-stricken Zambia published figures on Wednesday showing that its total public debt stock climbed to $32.8 billion, including interest arrears at the end of last year, of which $18.6 billion was external. At the end of June 2022 its total debt including interest arrears was $32.5 billion, with $17.5 billion external. "Zambia urgently needs a significant reduction in its debt burden," the country's Ministry of Finance said in an accompanying statement. "Zambia enjoys productive and positive relationships with all its creditors and is hopeful that an agreement on debt restructuring can be reached swiftly." Reporting by Marc Jones and Rachel Savage; Editing by Karin Strohecker and Mark PorterOur Standards: The Thomson Reuters Trust Principles.

☆ Sri Lanka to present debt restructuring, IMF bailout plans to creditors
▼ + stars: | 2022-09-18 | by ( ) www.reuters.com time to read: +2 min

A vendor prepares Sri Lankan notes to bundle them at a shop in Colombo July 3, 2013. REUTERS/Dinuka LiyanawatteLONDON, Sept 18 (Reuters) - Crisis-hit Sri Lanka will make a presentation to its international creditors on Friday, laying out the full extent of its economic troubles and plans for a debt restructuring and multi-billion dollar International Monetary Fund bailout. Debt crisis veterans cite uniquely difficult elements in Sri Lanka. The country's borrowings are so complex that estimates of the total range from $85 billion to well over $100 billion. Register now for FREE unlimited access to Reuters.com RegisterReporting by Marc Jones; Editing by Richard ChangOur Standards: The Thomson Reuters Trust Principles.

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