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☆ Ericsson's Q1 profit grows unexpectedly, eyes stabilisation of sales in H2
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: +1 min

Telecom equipment maker Ericsson reported on Tuesday a first-quarter adjusted profit that beat expectations and said sales might stabilise in the second half of the year despite weak demand for 5G gear. Operating profit excluding restructuring charges grew unexpectedly, to 4.3 billion crowns ($394.40 million) from a year-earlier 4.0 billion despite a 15% sales drop. The profit included a one-off gain of 1.9 billion crowns related to the resolution of a commercial dispute, Ericsson said. "In the second half, our margins should benefit from improved business mix," it said. Ericsson on Tuesday forecast a gross margin excluding restructuring charges at the Networks division of 42%-44% for the second quarter of 2024.

Persons: Ericsson Organizations: Telecom, Ericsson, LSEG, Radio Access Network, Networks Locations: Swedish, North America, China

☆ Yen hits 34-yr low ahead of key U.S. inflation data
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: +2 min

Japanese yen banknotes of various denominations are arranged in Kawasaki, Japan, on Friday, June 23, 2023. The yen briefly traded at 151.97 per dollar in the Asia session, down about 0.2% and its weakest since mid-1990. China's yuan and the New Zealand dollar traded near four-month lows. The yuan weakened to 7.2285 per dollar despite a strong fix of its trading band. The New Zealand dollar fell 0.2% to $0.5988, not helped by a downward revision to the government's economic growth forecasts.

Persons: Rodrigo Catril, Naoki Tamura Organizations: National Australia Bank, Bank of Japan, New Zealand Locations: Kawasaki, Japan, Asia

☆ State Dept Says US Actively Pursuing the Creation of a Palestinian State
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Simon Lewis and Humeyra PamukWASHINGTON (Reuters) - The United States is actively pursuing the establishment of an independent Palestinian state with security guarantees for Israel and exploring options with partners in the region, the State Department spokesperson said on Wednesday. "We are actively pursuing the establishment as an independent Palestinian state, with real security guarantees for Israel, because we do believe that is the best way to bring about lasting peace and security for Israel, for Palestinians and for the region," Miller said. War in Israel and Gaza View All 194 ImagesAxios reported earlier on Wednesday that U.S. Secretary of State Antony Blinken had asked the State Department to conduct a review and present policy options on possible U.S. and international recognition of a Palestinian state after the war in Gaza. British Foreign Secretary David Cameron also told a group of UK lawmakers that the UK government and its allies "will look at the issue of recognizing a Palestinian state, including at the United Nations," the BBC reported on Tuesday. Israeli Prime Minister Benjamin Netanyahu is at odds with the Biden administration over the creation of an independent Palestinian state, saying at the weekend that he would not compromise on "full Israeli security control of all territory west of the Jordan River".

Persons: Simon Lewis, Humeyra Pamuk, Matthew Miller, Joe Biden's, Miller, Antony Blinken, David Cameron, . Washington, Blinken, Benjamin Netanyahu, Biden, Daniel Wallis Organizations: Israel, State Department, United, United Nations, BBC, U.S Locations: Humeyra Pamuk WASHINGTON, United States, Israel, Gaza, Palestinian, Gaza . British, ., Saudi Arabia, Saudi, Davos, Israeli

☆ Bank of Japan expectedly retains its ultra-loose policy, cuts core inflation estimate
▼ + stars: | 2024-01-23 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Bank of Japan governor Kazuo Ueda gestures as he speaks during a press conference following a monetary policy meeting at the Bank of Japan's headquarters in Tokyo on July 28, 2023. The Bank of Japan on July 28 eased its grip on its ultra-loose monetary policy in a small step towards normalisation as inflation accelerates and the yen comes under pressure against other major currencies. (Photo by JIJI Press / AFP) / Japan OUT (Photo by STR/JIJI Press/AFP via Getty Images)The Bank of Japan expectedly retained its ultra-loose monetary policy at its first meeting this year, while cutting its core inflation forecast for the next fiscal year. All the economists surveyed by Reuters expected the Japanese central bank to maintain its negative rate policy this month — making the BOJ the world's only central bank with negative rates. The central bank also marginally increased the core CPI inflation estimate for fiscal 2025 to 1.8% from 1.7% forecast earlier.

Persons: Kazuo Ueda, Bank of Japan expectedly, BOJ Organizations: Japan, Bank of Japan's, The Bank of Japan, JIJI Press, Getty, Bank of Japan, Reuters Locations: Tokyo, AFP, Japan

☆ North Korea's Kim Calls for South to Be Seen as 'Primary Foe', Warns of War
▼ + stars: | 2024-01-15 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

Kim said the constitution should be amended to educate North Koreans that South Korea is a "primary foe and invariable principal enemy" and define the North's territory as separate from the South. "We don't want war but we have no intention of avoiding it," Kim was quoted as saying by KCNA. South Korean President Yoon Suk Yeol, at a cabinet meeting, said Pyongyang was being "anti-national" for calling the South a hostile country. Analysts have said North Korea's foreign ministry could take over relations with Seoul, and potentially help justify the use of nuclear weapons against the South in a future war. Ruediger Frank, professor of East Asian Economy and Society at the University of Vienna, said Kim's new policies "will trigger a cascade of changes across inter-Korean relations and regional dynamics".

Persons: Hyunsu Yim, Kim Jong Un, Kim, KCNA, Yoon Suk, Ruediger Frank, Frank, Josh Smith, Lisa Shumaker, Jonathan Oatis Organizations: Supreme, Assembly, North, East Asian, Society, University of Vienna, U.S Locations: Hyunsu Yim SEOUL, Korea, North, Seoul, North Koreans, South Korea, KCNA . North Korea, South, Pyongyang

☆ Explainer-What's the Israel-Palestinian Conflict About and How Did It Start?
▼ + stars: | 2024-01-13 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +8 min

The conflict pits Israeli demands for security in what it has long regarded as a hostile Middle East against Palestinians' unmet aspirations for a state of their own. In 1979, Egypt became the first Arab state to sign a peace treaty with Israel. Two-state solution: An agreement that would create a state for the Palestinians in the West Bank and Gaza Strip alongside Israel. Israel has said a Palestinian state must be demilitarised so as not to threaten its security. Jerusalem: Palestinians want East Jerusalem, which includes the walled Old City's sites sacred to Muslims, Jews and Christians alike, to be the capital of their state.

Persons: David Ben, Gurion, Israel, Yasser Arafat, Yitzhak Rabin, Arafat, Bill Clinton, Ehud Barak, Donald Trump's, Joe Biden's, Trump, Edmund Blair, Timothy Heritage Organizations: United Nations General Assembly, Arab League, West Bank, Palestine Liberation Organization, PLO, Palestinian, European Union, U.S, Israel Locations: Israel, East, Palestine, British, Jerusalem, Jordan, Lebanon, Syria, Gaza, East Jerusalem, Egypt, Israeli, Suez, Golan, Lebanon's Iran, United States, Oslo, Arab, Palestinian, Qatar, Saudi Arabia, Riyadh, U.S

☆ European Central Bank holds rates and trims its inflation forecast
▼ + stars: | 2023-12-14 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

BRUSSELS, BELGIUM - NOVEMBER 27: Christine Lagarde, President of the European Central Bank speaks during the European Parliament's Committee on Economic and Monetary Affairs (ECON) meeting in Brussels, Belgium on Nevember 27, 2023. (Photo by Dursun Aydemir/Anadolu via Getty Images)The European Central Bank on Thursday held interest rates steady for the second meeting in a row, as it revised its growth forecasts lower and announced plans to speed up the shrinking of its balance sheet. The latest staff macroeconomic projections see average real GDP expanding 0.6% in 2023, from a prior forecast of 0.7%. Headline inflation is meanwhile seen averaging 5.4% in 2023, 2.7% in 2024 and 2.1% in 2025. Members see core inflation, excluding energy and food, averaging 5% this year and 2.7% in 2024, 2.3% in 2025, and 2.1% in 2026.

Persons: Christine Lagarde, Dursun Aydemir, James Smith, CNBC's Joumanna Bercetche Organizations: European Central Bank, European Parliament's, Economic, Monetary Affairs, Getty, ECB, ING Locations: BRUSSELS, BELGIUM, Brussels, Belgium, Anadolu

☆ Israel wants 'security envelope', no Hamas on border after war, official says
▼ + stars: | 2023-12-02 | by ( ) www.reuters.com time to read: +2 min

[1/2] An Israeli soldier holds up an Israeli flag, near the border with Gaza, during a temporary truce between Israel and Palestinian Islamist group Hamas, in southern Israel, November 29, 2023. Asked whether Israel was indeed seeking such a buffer zone, senior adviser Mark Regev told reporters: "Israel will have to have a security envelope. We can never again allow terrorists to cross the border and butcher our people the way they did on October 7." "That is not Israel taking territory from Gaza," said Regev. They also said Saudi Arabia, which does not have ties with Israel and which halted a U.S.-mediated normalisation process after the Gaza war erupted on Oct. 7, had been informed.

Persons: Alexander Ermochenko, Benjamin Netanyahu, Israel, Mark Regev, Regev, Maayan Lubell, James Mackenzie, Gareth Jones Organizations: Hamas, REUTERS, Rights, Reuters, United Arab Emirates, Israel, Thomson Locations: Israeli, Gaza, Israel, Palestinian, Egypt, Jordan, Saudi Arabia, U.S

☆ Israel Wants 'Security Envelope', No Hamas on Border After War, Official Says
▼ + stars: | 2023-12-02 | by ( Dec. | At A.M. | ) www.usnews.com time to read: +2 min

JERUSALEM (Reuters) - Israel will seek a "security envelope" with special zones and arrangements that will prevent Hamas from being positioned on its border after the war in Gaza is over, a senior adviser to Prime Minister Benjamin Netanyahu said on Saturday. Asked whether Israel was indeed seeking such a buffer zone, senior adviser Mark Regev told reporters: "Israel will have to have a security envelope. We can never again allow terrorists to cross the border and butcher our people the way they did on October 7." "That is not Israel taking territory from Gaza," said Regev. They also said Saudi Arabia, which does not have ties with Israel and which halted a U.S.-mediated normalisation process after the Gaza war erupted on Oct. 7, had been informed.

Persons: Benjamin Netanyahu, Israel, Mark Regev, Regev, Maayan Lubell, James Mackenzie, Gareth Jones Organizations: Reuters, United Arab Emirates, Israel Locations: JERUSALEM, Israel, Gaza, Egypt, Jordan, Saudi Arabia, U.S

According to three regional sources, Israel related its plans to its neighbours Egypt and Jordan, along with the United Arab Emirates, which normalised ties with Israel in 2020. He declined to offer details when asked whether those plans had been raised with international partners, including Arab states. A U.S. official, who declined to be identified, said Israel had "floated" the buffer zone idea without saying to whom. The regional sources compared the Gaza buffer zone plan to the "security zone" Israel once had in south Lebanon. "The buffer zone could make (Prime Minister Benjamin) Netanyahu's forces a target also in the zone," he said.

Persons: Ronen, Israel, Abu Dhabi, Ophir Falk, Benjamin Netanyahu, Lebanon's, it's, Mohammad Dahlan, Benjamin, Netanyahu's, Samia Nakhoul, Ahmed Mohamed Hassan, Jonathan Saul, Dan Williams, Aidan Lewis, Humeyra Pamuk, Steve Holland, Edmund Blair, Daniel Flynn Organizations: REUTERS, Israel, United Arab Emirates, Saudi, Reuters, U.S, Lebanon's Hezbollah, Hamas, Palestine Liberation Organization, PLO, Palestinian Fatah, Thomson Locations: Gaza, Gaza Israel, Egypt, Jordan, UAE, Saudi Arabia, U.S, DUBAI, CAIRO, LONDON, Israel, Riyadh, Arab Turkey, Qatar, Qatari, Turkish, Palestinian, Cairo, Lebanon, PLO, Dubai, London, Jerusalem, Washington

☆ Bahrain seeks to balance anger over Gaza with ties to Israel, US
▼ + stars: | 2023-11-24 | by ( Alexander Cornwell | ) www.reuters.com time to read: +7 min

The deal to normalise ties with Israel, signed in 2020 by Bahrain when Donald Trump was president, brought few business benefits to Bahrain, unlike those it offered United Arab Emirates, a regional commercial hub which signed at the same time. Six sources familiar with the matter told Reuters Bahrain would not abandon its ties with Israel, even though parliament - a body that remains subservient to the monarchy - has made a strident statement suggesting Israel relations were in the freezer. Bahrain is trying to preserve the relationship with Israel while also managing public opinion, one of the sources said. "They can't abandon normalisation with Israel without endangering this whole strategic framework," said Kristin Smith Diwan, a researcher at the Arab Gulf States Institute in Washington. The sources said the public confusion over relations with Israel appeared to have eased pressure on the government in its efforts to balance domestic outrage and ties with Israel.

Persons: Hamad I Mohammed, Donald Trump, Kristin Smith Diwan, Abraham, Israel, Mamdooh Al Saleh, Smith, Tobias Lindner, Alexander Cornwell, Maha El, Ari Rabinovitch, Dan Williams, Michael Georgy, William Maclean Organizations: Hamas, REUTERS, Rare, U.S . Navy Fifth Fleet, United, Reuters, Gulf States Institute, Bahraini, Abraham, Islamic, Abraham Accords, Thomson Locations: Israel, Palestinian, Muharraq, Bahrain, MANAMA, Gaza, Gulf, United States, Iran, Manama, United Arab Emirates, Reuters Bahrain, Washington, UAE, Saudi Arabia, Bahraini, Jerusalem, Bahrainis, Tehran, Islamic Republic, East, U.S, Kingdom of Bahrain, Maha El Dahan, Dubai

[1/6] A man sings for customers touring the Erhai lake on a sightseeing bus, in Dali, Yunnan province, China November 10, 2023. Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Florence Lo, DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: REUTERS, Geneva Graduate Institute, Reuters, Communist Party, Thomson Locations: Dali, Yunnan province, China, China's, Israel, Gaza, Yunnan, Beijing

☆ Hamas Leader Ismail Haniyeh Leads Group's Diplomacy as Gaza War Rages
▼ + stars: | 2023-11-23 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

By Stephen Farrell and Samia Nakhoul(Reuters) - Ismail Haniyeh, the Hamas leader based in Qatar, has been the tough-talking face of the Palestinian group's international diplomacy as war has raged back in Gaza where his family home was destroyed in an Israeli air strike in November. Israel regards the entire Hamas leadership as terrorists, accusing Haniyeh, Meshaal and others of continuing to "pull the strings of the Hamas terror organisation." The plan, drawn up by the Hamas military council in Gaza, was such a closely guarded secret that some Hamas officials seemed shocked by its timing and scale. During the decade in which Haniyeh was Hamas' top leader in Gaza, Israel accused his leadership team of helping to divert humanitarian aid to the group's military wing. Three senior officials told Reuters that Khamenei told the Hamas leader in that meeting, that Iran would not enter the war having not been told about it in advance.

Persons: Stephen Farrell, Samia Nakhoul, Ismail Haniyeh, Haniyeh, Israel, Khaled Meshaal, Yahya Sinwar, Adeeb Ziadeh, Meshaal, Iran's, Ayatollah Ali Khamenei, Khamenei, Sheikh Ahmad Yassin, Yassin, Edmund Blair Organizations: Palestinian, Gaza, Al, Hamas, Qatari, Qatar University, Reuters, Islamic University Locations: Qatar, Gaza, Turkey, Doha, Iran, Israel, Al Jazeera, Meshaal, Muslim Iran, Egypt, Tehran, Iranian, Al, Gaza City, Al Jura, Ashkelon, Dubai

Israel's response has been a fierce military campaign that has killed more than 14,000 people inside Gaza so far. Israel regards the entire Hamas leadership as terrorists, accusing Haniyeh, Meshaal and others of continuing to "pull the strings of the Hamas terror organisation." The plan, drawn up by the Hamas military council in Gaza, was such a closely guarded secret that some Hamas officials seemed shocked by its timing and scale. During the decade in which Haniyeh was Hamas' top leader in Gaza, Israel accused his leadership team of helping to divert humanitarian aid to the group's military wing. Three senior officials told Reuters that Khamenei told the Hamas leader in that meeting, that Iran would not enter the war having not been told about it in advance.

Persons: Ismail Haniyeh, Haniyeh, Israel, Khaled Meshaal, Yahya Sinwar, Adeeb Ziadeh, Meshaal, Iran's, Ayatollah Ali Khamenei, Khamenei, Sheikh Ahmad Yassin, Yassin, Samia Nakhoul, Stephen Farrell, Edmund Blair Organizations: Palestinian, Gaza, Al, Hamas, Qatari, Qatar University, Reuters, Islamic University, Thomson Locations: Qatar, Gaza, Israel, Turkey, Doha, Iran, Al Jazeera, Meshaal, Muslim Iran, Egypt, Tehran, Iranian, Al, Gaza City, Al Jura, Ashkelon, Dubai

☆ Chasing a Different China Dream, Young Digital Nomads Head for the Hills
▼ + stars: | 2023-11-23 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

Many are former city-dwellers in search of an elusive prize in authoritarian China: Space for open discussion and exchange of ideas. POLICE OVERSIGHTThe local government has sought to attract young tech talent and in September asked digital nomads for input on policies, two community organisers told Reuters. Many digital nomads who use co-working spaces are involved with technologies like blockchain, according to organisers, which they say has drawn scrutiny from local authorities. "We are more low-key and don't emphasise digital nomads in our marketing anymore," one co-working space staffer told Reuters, adding that conservative local governments in rural towns like Dali are "cautious of emerging technologies". Since digital nomads, unlike university students, "are not subject to structured discipline, they are harder to manage", she said.

Persons: Laurie Chen DALI, Trump, Xi Jinping, Minhua Ling, Dali, Xi's, Bai Yunxi, Xi, Bai, Chen Zhengyun, Chen, Ling, Laurie Chen, Katerina Ang Organizations: Geneva Graduate Institute, Reuters, Communist Party Locations: China, China's, Israel, Gaza, Dali, Yunnan, Beijing

There's a lot of military people here, I just don't understand how this objective can be realised," Ayman Safadi said at the annual IISS Manama Dialogue security conference in Bahrain. Israel vowed to wipe out Hamas since its deadly Oct. 7 cross-border rampage into nearby Israeli communities. And we need to end that today, not tomorrow," said Saudi Foreign Minister Prince Faisal bin Farhan. "Hamas cannot be in control of Gaza any longer," Borrell told the Manama Dialogue, an annual conference on foreign and security policy. The PA is deeply unpopular among Palestinians, perceived largely as a corrupt security subcontractor for Israel, and Israel is now under a hardline religious-nationalist government.

Persons: Ayman Safadi, Prince Faisal bin Farhan, Brett McGurk, Joe Biden's, Prince Turki al, Faisal, Josep Borrell, Borrell, Mahmoud Abbas, Abbas, Fatah, Anwar Gargash, Enas Alashray, Michael Georgy, Mark Heinrich Our Organizations: UAE, Hamas, Saudi Foreign, Israel, WHO, United Nations, Palestinian Authority, West Bank, European Union, West Bank ., United Arab Emirates, Thomson Locations: Israel, Gaza Gaza, Bahrain, Gaza, MANAMA, Palestinian, Manama, Gaza City, Regional, Saudi Arabia, GAZA, Saudi, U.S, UAE, Cairo

U.S. Special Presidential Envoy for Climate John Kerry shakes hands with his Chinese counterpart Xie Zhenhua before a meeting in Beijing, China July 17, 2023. The countries' top climate envoys, John Kerry and Xie Zhenhua, met in Sunnylands, California on Nov. 4-7 to find common ground ahead of crucial COP28 talks in Dubai starting at the end of the month. It will focus on key areas of cooperation, including abating methane and boosting efficiency and the "circular economy", and exchange information on policies and technologies to reduce emissions. They also committed to advancing "at least five" large-scale cooperation projects in carbon capture, utilisation and storage by the end of the decade. The United States and China agreed that the stocktake should show that "significantly more ambition and implementation" was required to meet the Paris goals and include calls for developed countries to meet their climate financing commitments.

Persons: John Kerry, Xie Zhenhua, Valerie Volcovici, Nancy Pelosi, COP28, David Stanway, Muralikumar Organizations: REUTERS, Rights, Dubai, Paris, Thomson Locations: Beijing, China, Rights SINGAPORE, United States, Sunnylands , California, Taiwan, Paris

☆ Israel weapons makers leave stands empty at Dubai Airshow
▼ + stars: | 2023-11-13 | by ( Alexander Cornwell | ) www.reuters.com time to read: +3 min

DUBAI, Nov 13 (Reuters) - The exhibition stands of Israeli weapons makers Israel Aerospace Industries (IAI) and Rafael Advanced Defense Systems were empty at the start of the opening day of the weeklong Dubai Airshow on Monday, amid the Israel-Hamas war in Gaza. It was not immediately clear why there were no staff at either exhibition stand, which were located close to the pavilion of United Arab Emirates state arms maker EDGE. IAI and EDGE signed joint development programmes at the last Dubai Airshow in 2021. The IAI exhibition stand was blocked off with red rope. The UAE became the most prominent Arab nation to establish diplomatic ties with Israel in 30 years under the U.S.-brokered Abraham Accords in 2020.

Persons: Rafael, Gaza –, Abraham, Sheikh Mansour bin Zayed Al Nahyan, Sheikh Mohamed, Alexander Cornwell, Christopher Cushing Organizations: Israel Aerospace Industries, IAI, Rafael Advanced Defense Systems, United Arab, EDGE, Palestinian Hamas, UAE, Israel, Elbit Systems, Reuters, The, U.S, Abraham Accords, Arab League, of Islamic Cooperation, Thomson Locations: DUBAI, Dubai, Israel, Gaza, United Arab Emirates, Palestinian, Israeli, UAE, Arab, U.S, The UAE

☆ Exclusive: UAE plans to maintain ties with Israel despite Gaza outcry, sources say
▼ + stars: | 2023-11-11 | by ( Alexander Cornwell | ) www.reuters.com time to read: +8 min

Abu Dhabi became the most prominent Arab nation to establish diplomatic ties with Israel in 30 years under the U.S.-brokered Abraham Accords in 2020. "The indiscriminate damage visited upon the people of Gaza in pursuit of Israel's security risks extinguishing that hope," she said. Israel and the UAE have developed close economic and security ties in the three years since normalisation, including defence cooperation. None of four sources ruled out that the UAE could downgrade or sever its ties if the crisis escalated. While criticising Israel's conduct of the war, Abu Dhabi has also condemned Hamas for its attack.

Persons: Ronen, Abu Dhabi, Israel ABU, Abraham, Sheikh Mohamed bin Zayed Al Nahyan, Benjamin Netanyahu, Sheikh Mohamed, Emir Sheikh Tamim bin Hamad Al Thani, Israel, Washington, Anwar Gargash, Lana Nusseibeh, Abu, Jordan, James Dorsey, Netanyahu, Israel's, Abdel Fattah al, Mohammed Mursi, Omar Hassan al, Bashir, Alexander Cornwell, Dan Williams, Steven Scheers, Maha El Dahan, Michael Georgy, Daniel Flynn Organizations: REUTERS, UAE, United Arab Emirates, Israel, U.S, Abraham Accords, Israeli, Qatari, UN Security Council, Reuters, West Bank, Gaza, National University of Singapore, European Union, Egypt's, Thomson Locations: Petah Tikva, Israel, UAE, Gaza, Israel ABU DHABI, Abu, Palestinian, Arab, United States, Abu Dhabi, Qatar, reining, East Jerusalem, Israeli, Iran, Yemen, OPEC, Al Aqsa, Islam, Egypt, Jerusalem

☆ Cartier owner Richemont sees growth easing as economic worries rise
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

Richemont's constant currency sales growth eased from a 19% rate in the April to June period to a 5% rate in the following three months. The company posted a profit of 1.51 billion euros, worse than the 2.17 billion euros forecast by analysts in a consensus cited by Zuercher Kantonalbank. "Growth eased in the second quarter as inflationary pressure, slowing economic growth and geopolitical tensions began to affect customer sentiment, compounded by strong comparatives," said Chairman Johann Rupert in a statement. "Consequently, we have seen a broad-based normalisation of market growth expectations across the industry." While jewellery - traditionally more resilient to economic swings - continued to shine with constant currency sales up 9%, watch sales fell 4%.

Persons: Regis, Cartier, Vacheron Constantin, LVMH, Zuercher Kantonalbank, Johann Rupert, Kepler, Jon Cox, John Revill, Mimosa, Miranda Murray, Shri Navaratnam, Tomasz Janowski Organizations: Cartier, Vendome, REUTERS, Rights, IWC, Thomson Locations: Paris, France, Swiss, United States, Europe, China

☆ Mossad, CIA chiefs meet Qatar PM in Doha on Gaza hostage deal -source
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mary F. Calvert/File photo Acquire Licensing RightsDOHA, Nov 9 (Reuters) - The CIA and Mossad chiefs met with the Qatari prime minister in Doha on Thursday to discuss the parameters of a deal for hostage releases and a pause in Hamas-Israel fighting in the Gaza Strip, a source briefed on the meeting told Reuters. Sheikh Tamim was accompanied by the Qatari prime minister. The statement said the purpose of the visit was to discuss the situation in Gaza. Unlike Qatar, the UAE has had diplomatic relations with Israel since a U.S.-brokered normalisation agreement in 2020. Reporting by Andrew Mills; writing by Maha El Dahan; editing by Toby Chopra and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: William Burns, Mary F, David Barnea, Sheikh Mohammed Bin Abdulrahman, Thani, Qatar's Emir Sheikh Tamim bin Hamad Al Thani, Sheikh Mohamed bin Zayed Al Nahyan, Sheikh Tamim, Andrew Mills, Maha El, Toby Chopra, Mark Heinrich Our Organizations: Central Intelligence Agency, Intelligence, REUTERS, Rights DOHA, CIA, Reuters, Qatari, Wednesday, United Arab, Thomson Locations: Washington , U.S, Doha, Israel, Gaza, Qatar, Qatar's, United Arab Emirates, Abu Dhabi, UAE, U.S

☆ BOJ debated groundwork for future easy-policy exit at Oct meeting
▼ + stars: | 2023-11-09 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Staff members of Bank of Japan walk between the BOJ headquarters buildings in Tokyo, Japan September 20, 2023. The discussions highlight how the BOJ is looking to exit its decade-long accommodative regime, as prospects of sustained inflation and wage growth heighten. At the Oct. 30-31 meeting, the BOJ kept its ultra-low interest rate targets unchanged but tweaked the yield curve control (YCC) to loosen its grip on long-term interest rates. Another opinion showed how one board member saw prospects of sustainably achieving the BOJ's price target having heightened further since the previous meeting in July. The summary does not disclose the identity of the board member who made the comments.

Persons: Issei Kato, Kazuo Ueda, Leika, Shri Navaratnam, Sam Holmes Organizations: Bank of Japan, REUTERS, Bank, Japan, Thomson Locations: Tokyo, Japan, TOKYO

☆ Japanese junior coalition party calls for debate on income tax cuts
▼ + stars: | 2023-11-07 | by ( Takaya Yamaguchi | ) www.reuters.com time to read: +1 min

TOKYO, Nov 7 (Reuters) - The head of the tax panel for the Japanese political party Komeito, a junior coalition partner with the ruling Liberal Democratic Party (LDP), said on Tuesday a thorough debate is needed on a controversial plan to cut income tax next year. Makoto Nishida, Komeito's tax panel head, said that policymakers should not have a preset mind to limit the tax break to just a year, signalling a possibility to extend it beyond 2024. Prime Minister Fumio Kishiida of the LDP plans to adopt income tax cuts for the next fiscal year as part of a broader economic package to boost household incomes and consumption. Opposition lawmakers have criticized the income tax cuts as politically motivated and ineffective as it takes time to implement and it could end up adding to the Japan's debt burden, the industrial world's largest. Additional reporting by Tetsushi Kajimoto; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Makoto Nishida, Nishida, Fumio Kishiida, Tetsushi Kajimoto, Christian Schmollinger Organizations: Liberal Democratic Party, Thomson Locations: TOKYO

☆ UAE warns against risk of regional spillover from Gaza war
▼ + stars: | 2023-11-03 | by ( Alexander Cornwell | ) www.reuters.com time to read: +3 min

[1/2] Israeli soldiers drive in military vehicles by Israel's border with Gaza in southern Israel, October 10, 2023. "The risk of regional spillover and further escalation is real, as well as the risk that extremist groups will take advantage of the situation to advance ideologies that will keep us locked in cycles of violence." The UAE supported Egypt's current leader, Abdel Fattah al-Sisi, when he toppled President Mohamed Mursi of the Muslim Brotherhood in 2013. The UAE has said it planned to treat 1,000 Palestinian children from Gaza, but did not clarify how they would leave the besieged enclave. The latest war in the decades-old Israeli-Palestinian conflict began when Hamas militants broke through the border on Oct. 7 and went on a rampage.

Persons: Ronen, Abraham, ABU, Al Kaabi, Abdel Fattah al, Mohamed Mursi, Kaabi, Alexander Cornwell, Maha El, Raju Gopalakrishnan, Jason Neely Organizations: REUTERS, UAE, Abraham Accords, United, Emirates, Brotherhood, Hamas, U.S . Fifth, Thomson Locations: Gaza, Israel, East, UAE, ABU DHABI, Saudi Arabia, Abu Dhabi, Bahrain, Manama, Gulf

The 10-year Japanese government bond yield rose 2 basis points (bps) to 0.970%, a level last seen in May 2013, before retreating to 0.960% immediately after the BOJ announced an emergency bond-purchase operation. Tsuruta sees the tweak as a step toward the BOJ eventually exiting from negative interest rates policy, which he expects around the beginning of next year at the earliest. The two-year JGB yield had ticked up to 0.160%, while the five-year yield reached 0.480%, levels not seen since 2011. On the superlong end, the 20-year JGB yield rose to its highest since July 2013 at 1.735%. The 30-year JGB yield was up 3 bps at 1.905%.

Persons: Kim Kyung, Keisuke Tsuruta, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Tsuruta, James Malcolm, YCC, Malcolm said, Brigid Riley, Vidya Ranganathan, Shri Navaratnam Organizations: Bank of Japan, REUTERS, Rights, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, UBS, Thomson Locations: Tokyo, Japan, London

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