DIRS.INFO The most relevant business & tech news

☆ Zimbabwe Bets on No Till Farming to Reduce El Nino Impact on Grain
▼ + stars: | 2024-02-07 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

No till farming minimises soil disturbance, which helps keep carbon in the soil and also enriches soil biodiversity, reducing the need for chemical fertilisers that emit greenhouse. Zimbabwe is one of the countries worst affected by the El Nino weather pattern and struggles to feed itself. Zimbabwe produced 2.3 million tons of maize last year. The country requires 2.2 million tons of the staple grain annually for human and livestock consumption. "This is a reflection that farmers are adopting the recommended climate-proofing interventions, especially during the El Nino condition," cabinet said in a statement released late on Tuesday.

Persons: Vangelis Haritatos, Mthuli Ncube, Zimbabwe's, Nelson Banya, Michael Perry Organizations: Reuters, El, Finance, Nino Locations: HARARE, Zimbabwe, El Nino, Pacific

☆ Israeli-linked chemical tanker seized in Gulf of Aden, US official, vessel company say
▼ + stars: | 2023-11-26 | by ( Aziz El Yaakoubi | ) www.reuters.com time to read: +3 min

RIYADH, Nov 26 (Reuters) - Unidentified armed individuals have seized a tanker carrying a cargo of phosphoric acid in the Gulf of Aden on Sunday, the vessel's managing company and a U.S. defence official said. It followed a seizure of an Israeli-linked cargo ship by Yemen Houthis, allies of Iran, in the southern Red Sea last week. The group, which also fired ballistic missiles and armed drones at Israel, vowed to target more Israeli vessels. "U.S. and coalition forces are in the vicinity and we are closely monitoring the situation," the U.S. official said. Central Park, a small chemical tanker (19,998 metric tons), is managed by Zodiac Maritime Ltd, a London-headquartered international ship management company owned by Israel's Ofer family.

Persons: Yemen Houthis, Israel's Ofer, rampaged, Aziz El Yaakoubi, William Schomberg, David Goodman, Louise Heavens Organizations: Palestinian, Hamas, U.S, Zodiac Maritime, Liberian, Clumvez Shipping Inc, Britain's Maritime Trade Operations, Thomson Locations: RIYADH, Gulf, Aden, U.S, Central, Israel, Yemen, Iran, London, Somalia, Turkish, Tehran, Israeli, Gaza

☆ IMF board approves $178 mln loan to Malawi
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Malawian Finance and Economic Affairs Minister Sosten Gwengwe speaks at the State Department in Washington, DC, U.S., September 28, 2022. Kevin Wolf/Pool via REUTERS/File Photo Acquire Licensing RightsBLANTYRE, Nov 15 (Reuters) - The International Monetary Fund's executive board has approved a loan of about $178 million for Malawi, with an immediate disbursement of about $35 million, the IMF said in a statement on Wednesday. "The decision is a big breather for us and our economy," Finance Minister Simplex Chithyola Banda said in a telephone interview with Reuters. The IMF programme will unlock more financial support from development partners, Malawian President Lazarus Chakwera said in a televised national address late on Wednesday. The World Bank could give Malawi $60 million for trade finance, a $217 million package linked to fiscal reforms and $250 million for agriculture, Chakwera said.

Persons: Sosten Gwengwe, Kevin Wolf, Banda, Lazarus Chakwera, Chakwera, Frank Phiri, Anait Miridzhanian, David Gregorio, Sandra Maler Organizations: Finance, Economic Affairs, State Department, Rights, Monetary Fund's, Malawian, Simplex, Reuters, IMF, Bank, Thomson Locations: Washington , DC, Rights BLANTYRE, Malawi

The Gaza war on the border with Egypt's Sinai Peninsula comes after the impact of Russia's invasion of Ukraine and the coronavirus pandemic exposed long-standing frailties in the Egyptian economy. "Foreign sentiment on Egypt is so weak, and now with this coming along it's last thing that Egypt needed. A foreign currency shortage has led to a $5 billion backlog of imports stuck at ports, and problems for foreign companies repatriating dividends, bankers say. So far, the Gaza war has affected the popular Sinai destinations of Taba, Nuweiba, Dahab and Sharm el-Sheikh but left the rest of the country relatively unscathed. Egypt's tourism minister told Reuters this week that the impact of the war was contained to under 10% of bookings.

Persons: Mohamed Abd El Ghany, Monica Malik, Moataz, Sharm, Karim ElMinabawy, Siamak Adibi, Egypt's, Olumide Ajayi, Malik, Patrick Werr, Sarah El Safty, Aidan Lewis, Toby Chopra Organizations: REUTERS, Abu, Tourism, Countrywide, Emeco, Middle East Gas, FGE, United Arab, Thomson Locations: Giza, Cairo, Egypt, CAIRO, Gaza, Ukraine, Dhabi, Taba, Dahab, Luxor, Aswan, Israel, Europe, Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Gulf . Saudi

The planned tariff has caused disquiet among trading partners and at a forum last month, China's top climate envoy Xie Zhenhua urged countries not to resort to unilateral measures such as the EU levy. The bloc will not begin collecting any CO2 emission charges at the border until 2026. Importers will from 2026 need to purchase certificates to cover these CO2 emissions to put foreign producers on a level footing with EU industries that must buy permits from the EU carbon market when they pollute. Companies in the European Union, Britain and Ukraine have told Reuters they expect little initial impact during the trial phase. Among Europe's significant trade partners, China's foreign ministry, Turkey's trade ministry and a U.S. official declined to comment on the launch.

Persons: Xie Zhenhua, Paolo Gentiloni, Gentiloni, Philip Blenkinsop, Kate Abnett, Valerie Volcovici, Nevzat, David Stanway, Barbara Lewis Organizations: European Union, Companies, Reuters, European Commission, World Trade Organization, U.S, Thomson Locations: BRUSSELS, Britain, Ukraine, Europe, Washington, Ankara, Beijing

☆ Hungary signals national ban on Ukrainian grain imports beyond Sept 15
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBUDAPEST, Sept 13 (Reuters) - Hungary has agreed with Romania, Slovakia and Bulgaria to impose bans on Ukrainian grain imports to protect their markets if the EU does not extend a ban that expires on Sept. 15, Hungary's farm minister said on Wednesday. On Tuesday, a parliamentary committee adopted a draft decision for Bulgaria to lift the ban on Ukrainian imports of certain products after Sept. 15. As a result, farmers in neighbouring states - Poland, Hungary, Romania, Bulgaria and Slovakia - have faced increased competition and bottlenecks in their own markets. The European Commission announced "temporary preventive measures" in May that would ban sales into Poland, Hungary, Romania, Bulgaria and Slovakia while allowing transit to non-EU markets, mainly in Africa. The EU agriculture commissioner said on Tuesday he believes the European Commission should extend its temporary ban on Ukraine imports into these five states as the measure helped boost exports outside the bloc.

Persons: Dado Ruvic, Nikolay Denkov, Denkov, Agriculture Istvan Nagy, Nagy, Krisztina, Louise Heavens, David Holmes Organizations: REUTERS, Rights, Bulgarian, Agriculture, Romanian, European Commission, Thomson Locations: Hungary, Romania, Slovakia, Bulgaria, Bulgarian, Ukraine, Russia, Poland, Hungarian, Slovak, Brussels, EU, Africa

The move in August by Russian companies to instead offer fertilisers at market prices could increase India's import costs and subsidy burden amid a rally in global prices, as a top exporter, China, tries to curtail overseas sales. "Russian companies are offering fertilisers at the market prices," the official said, declining to be named due to the sensitivity of the matter. Reuters Graphics"Russian companies were offering DAP at discounts of as high as $80 (per ton). DAP prices were around $440 per ton in July, he added. "The global fertiliser prices are rising just before crucial state elections in India.

Persons: Amit Dave, Rajendra Jadhav, Polina Devitt, Tony Munroe, David Evans Organizations: REUTERS, Rights, Reuters, United, Reuters Graphics, Thomson Locations: Ahmedabad, India, Rights MUMBAI, LONDON, China, New Delhi, Russia, Egypt, Jordan, United Arab Emirates, Russian, Mumbai

☆ Top Russian banks say exporters can now get trapped funds from India
▼ + stars: | 2023-09-12 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +3 min

After Moscow despatched troops to Ukraine in February 2022, Western countries imposed sweeping sanctions and have sought to wean themselves off Russian energy exports. India has been a major beneficiary, picking up Russian oil on the cheap. In response, India is seeking to stimulate investment in several sectors and diversify the goods that India supplies to Russia, Kapoor said at the economic forum. Tightening global supplies have led Russian companies to stop offering fertiliser such as di-ammonium phosphate (DAP) to India at discounted prices, three industry sources told Reuters. On the transactions issue, Kapoor rejected reports in Russian media that rupees stuck in Russian exporters' accounts in India were related to oil supply payments.

Persons: Ivan Nosov, Andrei Kostin, Kostin, Moscow Pavan Kapoor, Kapoor, Sergei Lavrov, Lavrov, Elena Fabrichnaya, Alexander Marrow, Gareth Jones, Emelia Organizations: ., Economic, RBC, Reuters, Thomson Locations: Russia, Ukraine MOSCOW, India, Moscow, Ukraine, Vladivostok, Sberbank, Arab, Emirates, Russian, Jakarta

☆ Russia to Return to Grain Deal Once All Moscow's Conditions Met, Lavrov Says
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

By Katya GolubkovaNEW DELHI (Reuters) - Russia will return to the Black Sea grain deal 'the same day' as Moscow's conditions for export of its own grain and fertilisers to the global markets are met, Foreign Minister Sergei Lavrov told reporters on Sunday. Supplies were obstructed after Russia invaded Ukraine last year in what Moscow calls a 'special military operation'. The United Nations, Turkey and this year's G7 chair Japan are trying to facilitate the resumption of grain supplies. Ukraine opposes the idea of easing sanctions on Russia in order to revive a grain deal. Turkish President Tayyip Erdogan said on Sunday he was not 'hopeless' about reviving the deal, and Russia, Ukraine and Turkey would continue to discuss it.

Persons: Katya Golubkova, Sergei Lavrov, Russia, Lavrov, Tayyip Erdogan, SWIFT, General Antonio, Guterres, Christina Fincher Organizations: United, The United, Reuters, UN, Russian Agricultural Bank, SWIFT Locations: DELHI, Russia, United Nations, Turkey, New Delhi, Ukraine, Moscow, The United Nations, Japan, Turkish, Luxembourg

Analysts said it tests President Tayyip Erdogan's resolve to maintain good relations with Russian President Vladimir Putin, whom he has invited to Turkey this month to discuss resuming the UN-brokered deal that had protected grain exports from Ukraine. "Ankara's silence is strange but shows it is still counting on Putin to visit and return to the grain deal." It wants the West to accept some Russian demands, and for Russia to drop others, to restart Ukraine grain exports under UN and Turkish oversight. A Turkish defence ministry official, requesting anonymity, said Ankara was looking into the Black Sea raid but gave no more details. "Therefore Erdogan should negotiate and try to convince Western countries, not Putin, for the reinstatement of the grain deal," he said.

Persons: Mehmet Bey, Umit, Erdogan, Putin, NATO's, Tayyip Erdogan's, Vladimir Putin, Yoruk Isik, Grynspan, Sezer, Huseyin Hayatsever, Gabrielle Tétrault, Farber, Kirsten Donovan Organizations: Coordination Centre, REUTERS, Ankara, Analysts, UN, Bosphorus Observer, United Nations Conference, Trade, Development, Thomson Locations: Yenikapi, Istanbul, Turkey, ISTANBUL, Ukraine, NATO, Moscow, Russia, Ankara, Odesa, Turkish, Palau, Russian

Sputnik/Yekaterina Shtukina/Pool via REUTERS/File PhotoSummary Medvedev pledges revenge for Black Sea attacksSuggests Russia will hit Ukrainian ports againThreatens ecological disasterMOSCOW, Aug 5 (Reuters) - Former Russian President Dmitry Medvedev on Saturday suggested Moscow would launch more strikes against Ukrainian ports in response to Kyiv's attacks on Russian ships in the Black Sea, and threatened to hand Ukraine "an ecological catastrophe". Medvedev, who is deputy chairman of Russia's Security Council, a body chaired by President Vladimir Putin, spoke after Ukrainian sea drone attacks on a Russian warship in the port of Novorossiysk, and against a tanker near Crimea, which Russia annexed from Ukraine in 2014. Apparently, the strikes on Odesa, Izmail, and other places were not enough for them," Medvedev said in a post on his official social media accounts. Russia has in recent weeks targeted the Black Sea port of Odesa, where the Ukrainian Navy is headquartered, and Izmail, Ukraine's main inland port across the Danube River from Romania, damaging port infrastructure and grain facilities. Medvedev suggested retaliatory Russian strikes against Ukraine for its sea drone attacks could end any chances of reviving the grain deal.

Persons: Dmitry Medvedev, Medvedev, Vladimir Putin, Putin, Andrew Osborn, David Holmes Organizations: Russia's, Scientific, Machine, Sputnik, Saturday, Russia's Security, Security, Russian Navy, Ukrainian Navy, United Nations, Ukraine, Thomson Locations: Reutov, Moscow, Russia, MOSCOW, Russian, Ukraine, Novorossiysk, Crimea, Odesa, Romania, Poland

☆ Somalia says Russia grants relief on debt worth $684 million
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

MOGADISHU, July 27 (Reuters) - Russia has granted debt relief on over $684 million owed by Somalia in a deal finalised on the sidelines of a Russia-Africa summit in St Petersburg, officials from the Horn of Africa nation said. Emerging from decades of civil war, Somalia is seeking to secure sweeping external debt relief under the International Monetary Fund (IMF) and World Bank's Heavily Indebted Poor Countries (HIPC) Initiative. The agreement signed on Wednesday between Egeh and Russian deputy finance minister Timur Maksimov concerned Paris Club loans, Somali Deputy Prime Minister Salah Ahmed Jama told Russian state news agency RIA Novosti. Somalia owed Moscow nearly $695 million in 2019, according to the IMF. Reporting by Hereward Holland, Abdi Sheikh and Rachel Savage; editing by Joe Bavier and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Bihi Egeh, Timur Maksimov, Salah Ahmed Jama, Jama, Vladimir Putin, Putin, pare, Hereward Holland, Abdi Sheikh, Rachel Savage, Joe Bavier, Mark Heinrich Our Organizations: International Monetary Fund, Somali Finance, Moscow, Paris Club, RIA Novosti, African, IMF, Thomson Locations: MOGADISHU, Russia, Somalia, Africa, St Petersburg, Horn of Africa, Egeh, Paris, Russian, Moscow, Ukraine

"We will be ready to provide Burkina Faso, Zimbabwe, Mali, Somalia, Central African Republic and Eritrea with 25-50,000 tonnes of free grain each in the next 3-4 months," Putin told the summit, whose participants applauded. Last year, Russia exported a total of 60 million tonnes of grain, of which 48 million tonnes was wheat, Putin said. He said Western sanctions, imposed in response to Russia's war in Ukraine, which Moscow calls a "special military operation", had even prevented Russia from supplying free fertiliser to poor nations. On the one hand, Western countries are obstructing supplies of our grain and fertilisers, while on the other they hypocritically blame us for the current crisis situation on the world food market," said Putin. Visiting dignitaries were also invited to visit Russia's imperial palaces or watch a gala match between Russian and African "football legends".

Persons: Vladimir Putin, Putin, Russia's, U.N, Antonio Guterres, PUTIN, Azali Assoumani, Mark Trevelyan, Kevin Liffey Organizations: Thursday, WEST Putin, European Union, Union, Kremlin, Reuters, Thomson Locations: Russia, Africa, Moscow, MOSCOW, St Petersburg, Russian, Burkina Faso, Zimbabwe, Mali, Somalia, Central African Republic, Eritrea, Ukraine, Sudan, United States, France, African

☆ Russia-Africa summit to discuss Moscow's grain and fertiliser exports - RIA
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

July 25 (Reuters) - Russia and nations taking part in this week's Russia-Africa summit will discuss Moscow's grain and fertilisers exports, Oleg Ozerov, ambassador at large at the Russian foreign ministry, told the state RIA news agency in remarks published on Tuesday. Last week, Russia withdrew from the year-long Black Sea grain deal that ensured the safe export of Ukrainian grains, saying that Russia's conditions for the extension of the deal had been ignored. The U.N-brokered grain deal had allowed Ukraine to export grain from its Black Sea ports, despite the war, to alleviate a global food crisis. This week, President Vladimir Putin said Moscow can replace Ukrainian grain both commercially and free of charge. On Monday, UN Secretary-General Antonio Guterres called on Russia on Monday to return to the Black Sea grain deal.

Persons: Oleg Ozerov, Ozerov, Vladimir Putin, Antonio Guterres, Lidia Kelly, Simon Cameron, Moore Organizations: Russian Federation, UN, Thomson Locations: Russia, Africa, St . Petersburg, Moscow, Ukraine, Melbourne

☆ Canadian pension fund taps Europe's green hydrogen hopes with Dutch investment
▼ + stars: | 2023-07-11 | by ( Tommy Wilkes | ) www.reuters.com time to read: +3 min

LONDON, July 11 (Reuters) - Canada's biggest pension fund, CPP Investments, has made its first bet on green hydrogen playing a growing role in cutting emissions, with a 130 million euro ($143 million) investment and the purchase of a majority stake in a three-year-old Dutch firm. "Europe is generally seen as the leading industrial market or consumer for these green molecules. Power2X's current projects include a green hydrogen and ammonia development in Portugal and a solar power and green hydrogen project in Spain. Expanding green hydrogen production will require more renewable power generation, and some questions remain over its potential use cases versus other low-emission technologies. Last month Canada's Investment Management Corporation of Ontario announced a $400 million investment in Sweden's battery producer Northvolt.

Persons: Bruce Hogg, CPPI, Hogg, Occo Roelofsen, Tommy Reggiori Wilkes, Conor Humphries Organizations: Investments, Reuters, Investor, McKinsey, Investment Management Corporation of Ontario, Thomson Locations: Amsterdam, Europe, Portugal, Spain, Power2X

☆ India expects EU carbon tax to hit exports of steel, iron ore and cement
▼ + stars: | 2023-07-06 | by ( Aftab Ahmed | ) www.reuters.com time to read: +2 min

[1/4] An employee works inside a steel factory in the northern Indian city of Lucknow June 11, 2010. REUTERS/Pawan KumarNEW DELHI, July 6 (Reuters) - Already facing subdued demand from developed nations, India's exports are likely to be hit by the European Union's 20% to 35% tariffs on high-carbon goods like steel, iron ore and cement, the finance ministry said in a report released on Thursday. Reporting of carbon content in exports to the EU would be required beginning Oct. 1, 2023, and the main goods affected would be steel, cement, aluminium, fertilisers, electricity and hydrogen. "The impending downside risks to India’s exports include the European Union’s introduction of the Carbon Border Adjustment Mechanism," the finance ministry said in its annual economic report. India's merchandise trade deficit rose faster-than-expected in May to $22.12 billion, up from $15.24 billion in April, due to reduced demand for Indian exports from developed countries.

Persons: Pawan Kumar, Aftab Ahmed, Shivam Patel, Clarence Fernandez, Simon Cameron, Moore Organizations: REUTERS, El, Thomson Locations: Indian, Lucknow, DELHI, EU

☆ Who is on the missing Titanic sub?
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +4 min

Courtesy of Jannicke Mikkelsen/via REUTERS/File PhotoJune 20 (Reuters) - A five-person submersible vessel taking wealthy adventurers on a $250,000 trip to see the wreckage of the 1912 Titanic disaster 12,500 feet (3,800m) undersea is missing in the Atlantic off Canada. The British billionaire and chairman of aviation consultancy Action Aviation is among those missing, according to his stepson. The 77-year-old French explorer, whom media say is one of the five on board, is director of underwater research at a company that owns the rights to the Titanic wreck. The founder and CEO of the vessel's U.S.-based operating company OceanGate is also on the submersible, according to media reports. "It is an amazingly beautiful wreck," Rush told Britain's Sky news of the Titanic earlier this year.

Persons: Hamish Harding, Jannicke Mikkelsen, HAMISH HARDING, Harding, Buzz Aldrin, Aldrin, SHAHZADA DAWOOD, SULEMAN, Shahzada, PAUL, HENRI NARGEOLET, Rush, Britain's, OceanGate, Ariba Shahid, Kate Holton, Dominique Vidalon, Yousef Saba, Andrew Cawthorne, Christina Fincher, Alexandra Hudson Organizations: Titanic, WHO, Action Aviation, Engro Corporation, SETI, French Navy, France Bleu, STOCKTON RUSH, Britain's Sky, Reuters, Alexandra Hudson Our, Thomson Locations: Atlantic, Canada, British, Dubai, Newfoundland, fertilisers, California, Britain, U.S, Everett, Washington State, Pacific, Gulf of Mexico, Karachi, London, Paris

[1/2] A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. ADNOC and Covestro declined to comment. The OMV deal would indirectly also increase ADNOC's holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD). SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S). Thanks to a 2007 deal to buy GE's plastics unit, SABIC competes with Covestro in polycarbonate plastics.

Persons: Christopher Pike, Abu Dhabi's, ADNOC, Sultan, Jaber, Lanxess, SABIC, Ludwig Burger, Patricia Weiss, Christoph Steitz, Hadeel Al, Greg Roumeliotis, Louise Heavens, Sharon Singleton, Elisa Martinuzzi, Alexandra Hudson Organizations: United, United Arab Emirates, REUTERS, Abu Dhabi National Oil Company, Covestro, Alexandra Hudson Our, Thomson Locations: Abu Dhabi, United Arab, Covestro, Europe, Saudi Aramco, Saudi Arabia, Swiss, Frankfurt, Hadeel Al Sayegh, Dubai

[1/2] A general view of ADNOC headquarters in Abu Dhabi, United Arab Emirates May 29, 2019. REUTERS/Christopher Pike/File PhotoJune 20 (Reuters) - Abu Dhabi National Oil Company (ADNOC) has approached German plastics and chemicals maker Covestro AG (1COV.DE) with a takeover proposal worth more than 10 billion euros ($10.9 billion), two people familiar with the matter said on Tuesday. The OMV deal would indirectly also increase ADNOC's holding in both European petrochemicals maker Borealis and Abu Dhabi-listed petrochemicals company Borouge (BOROUGE.AD). SABIC (2020.SE), also of Saudi Arabia, in the same year purchased a stake of almost 25% in Swiss chemicals maker Clariant (CLN.S). Thanks to a 2007 deal to buy GE's plastics unit, SABIC competes with Covestro in polycarbonate plastics.

Those aboard the submersible called Titan, the highlight of a tourist expedition that costs $250,000 per person, included British billionaire Hamish Harding and Pakistani businessman Shahzada Dawood with his son Suleman. The wreckage of the Titanic that sank in 1912 after hitting an iceberg lies at about 12,500 feet (3,810 metres). OceanGate Expeditions, the private company that operates the submersible, said it was "mobilizing all options" to rescue those aboard the Titan. Reuters GraphicsBILLIONAIRE ABOARDThe expeditions to the Titanic start in St. John's, Newfoundland, before heading out about 400 miles (640 km) into the Atlantic to the wreckage site, OceanGate's website says. Harding's stepson later wrote on Facebook that Harding had "gone missing on submarine" and asked for "thoughts and prayers".

Persons: Hamish Harding, Shahzada Dawood, Suleman, Paul, Henri Nargeolet, John Mauger, Harding, Dawood, Joseph Ax, Kanishka Singh, Ismail Shakil, Edmund Blair, Janet Lawrence Organizations: Discovery, U.S . Coast Guard, Stockton Rush, Expeditions, Twitter, Reuters Graphics, Action Aviation, Facebook, Engro Corporation, SETI, Thomson Locations: Nova Scotia, Canada, U.S, ., Cape Cod, St, John's, Newfoundland, UAE, California, Britain, Washington, Shahid, Karachi

☆ Explainer: What is Russia's problem with the Black Sea grain deal?
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +7 min

Putin said he would discuss the future of the grain deal with visiting African leaders on Saturday. THE PACKAGE DEALThe United Nations and Turkey brokered the Black Sea Grain Initiative last July to help tackle a global food crisis worsened by Moscow's invasion of Ukraine and blockade of its Black Sea ports. Under the Black Sea grain deal, more than 625,000 tonnes of grain has so far been shipped by the WFP for aid operations in Afghanistan, Ethiopia, Kenya, Somalia and Yemen. Until the ammonia pipeline is restarted, Moscow has said it will limit the number of vessels allowed to travel to Pivdennyi port under the Black Sea grain deal. RUSSIAN GRAIN, FERTILIZER EXPORTSWhile exports of Russian wheat and some fertilisers have risen since the war, exports of Russian ammonia and potassium-based fertilizers have plummeted.

Persons: Vladimir Putin, Putin, Stephane Dujarric, Linda Thomas, Greenfield, JPM.N, Daniel Wallis Organizations: United, United Nations, Food Programme, The United Nations, Democratic, Agricultural Bank, European Union, EU, JPMorgan Chase, reassurances, U.S ., African Export, Import Bank, Reuters, U.S . Department of Agriculture, Thomson Locations: Russia, Moscow, United Nations, Turkey, Ukraine, Africa, Lebanon, Syria, Yemen, Somalia, Democratic Republic of Congo, Afghanistan, Ethiopia, Kenya, United States, America, SWIFT, Russia's Togliatti, Ukraine's, Ukrainian, Ukraine's Kharkiv, East

LONDON, June 6 (Reuters) - Nestle (NESN.S) is piloting a scheme to give cash to coffee farmers who grow beans sustainably as part of its plan to halve greenhouse gas emissions in its coffee business by 2030, the food company said on Tuesday. The move comes as major consumer goods companies face increased reputational and legal pressure to clean up their supply chains globally. Nestle, the world's largest packaged food company has pledged to spend $1 billion by 2030 on its plan to source coffee sustainably, which now includes efforts to boost farmer income. The company said it has, under the plan, offered some 3,000 coffee farmers in developing countries like Ivory Coast, Indonesia and Mexico conditional cash incentives to encourage them to transition to regenerative agricultural practices. These include using organic fertilisers to improve soil fertility, planting shade trees that protect coffee beans and intercropping to preserve biodiversity.

Persons: Maytaal Angel, Bernadette Baum Organizations: Nestle, Rainforest Alliance, European Union, Fairtrade, Technoserve, Thomson Locations: Ivory Coast, Indonesia, Mexico

☆ Kenya and Russia to sign trade pact, President Ruto says
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +2 min

[1/3] Speaker of the National Assembly of Kenya Moses Wetangula shakes hands with Russian Foreign Minister Sergei Lavrov during a meeting in Nairobi, Kenya May 29, 2023. Russian Foreign Ministry/Handout via REUTERSNAIROBI, May 29 (Reuters) - Kenya will sign a trade pact with Russia aimed at boosting cooperation between businesses, President William Ruto's office said on Monday, after hosting Russian Foreign Minister Sergei Lavrov in Nairobi. Kenya's presidency said in a statement that bilateral trade with Russia was still low despite the potential and the pact would give business the "necessary impetus". Russia says its invasion of Ukraine, launched on Feb. 24, 2022, is aimed at protecting its own security against Ukraine's pro-Western leadership. Lavrov has visited the African continent at least three times this year, while Ukraine's foreign minister Dmytro Kuleba travelled to countries including Ethiopia, Rwanda and Mozambique last week.

☆ Exclusive: Ukraine would only allow Russian ammonia exports if it gets expanded grain deal
▼ + stars: | 2023-05-19 | by ( Pavel Polityuk | ) www.reuters.com time to read: +2 min

The comments are the first time Kyiv has publicly laid out its stance on Russian ammonia, which Moscow wants shipped via the Black Sea under the agreement. The Ukrainian government source, who asked not to be named, told Reuters the language of the deal does not cover the transit of Russian ammonia across Ukraine. Despite Russian threats to pull out of the deal, the Black Sea deal was extended for two months on Wednesday a day before it was due to expire. MORE PORTS, MORE GOODSOnly three of Ukraine's major Black Sea ports are included in the agreement. Officials have previously said the country, which used to export steel across the Black Sea, needs to export steel products.

[1/5] An agricultural worker operates a tractor with a tiller in a field near the village Kyshchentsi, amid Russia's attack on Ukraine, in Cherkasy region, Ukraine May 1, 2023. Around 40 of his 350 workers have signed up to fight in the war, and the replacements he has found lack their experience. Huizinga fears this could mean a fall in grain and milk yields, and with them a drop in his income. His farm, in a village in the rolling hills and green flat plains of the Cherkasy region in central Ukraine, is not the only one losing valued farmhands to the war. Marchuk said farmers were prioritising some employees, bringing in more women workers, recruiting those people displaced by the war and by retraining other workers.

Search resuls for: "fertilisers"

25 mentions found