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The blast was one of the largest non-nuclear explosions ever recorded, killing more than 200 people, wounding thousands, and devastating swathes of Beirut. The FBI report does not give any explanation as to how the discrepancy arose, or where the rest of the shipment may have gone. FBI investigators came to Beirut after the blast at Lebanon's request. A senior Lebanese official who was aware of the FBI report and its findings said the Lebanese authorities agreed with the Bureau on the quantity that exploded. read moreThe FBI report said "an approximate amount reaching around 552 metric tonnes of ammonium nitrate exploded in warehouse 12".
Persons: William Maclean Organizations: FBI, Reuters, Lebanese, Thomson Locations: Beirut, Lebanon, Georgia, Mozambique
S.Africa approves use of 1,495 military personnel to help Mozambique fight insurgents
  + stars: | 2021-07-28 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Displaced women sit on mats after fleeing an attack claimed by Islamic State-linked insurgents on the town of Palma, at a displacement centre in Pemba, Mozambique, April 2, 2021. REUTERS/Emidio Jozine/File PhotoJOHANNESBURG, July 28 (Reuters) - South African President Cyril Ramaphosa has authorised the use of 1,495 members of the military to help neighbour Mozambique fight an Islamic State-linked insurgency, parliament said on Wednesday. read moreAt the time SADC nations authorised the deployment of the bloc's standby force, they did not say how many troops would be involved. Ramaphosa's letter said South Africa's military would help Mozambique combat "acts of terrorism and violent extremists that affected the area of Cabo Delgado". Reporting by Alexander Winning; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.
Persons: Emidio, Cyril Ramaphosa, Ramaphosa, Cabo Delgado, Alexander Winning, Nick Macfie Organizations: Islamic, REUTERS, South African National Defence Force, SADC, Thomson Locations: Islamic State, Palma, Pemba, Mozambique, JOHANNESBURG, Cabo Delgado, Cabo
LISBON (Reuters) - Portugal’s largest listed bank Millennium bcp on Monday reported a 84% drop in first-half net profit after taking big provisions on foreign currency loans at its Polish subsidiary. FILE PHOTO: People walk near a branch of Millennium BCP Bank in downtown Lisbon, Portugal, May 11, 2016. REUTERS/Rafael MarchanteThe bank reported a profit of 12.3 million euros ($14.52 million) in the first half, down from 76 million euros during the same period last year, it said in a statement. Millennium bcp said operating costs increased 7.9% to 591.8 million euros after it spent around 87.2 million euros in one-off restructuring costs in Portugal in the first half. “Our net interest income is very stable despite the environment of very low interest rates,” Maya said.
Persons: Rafael Marchante, Miguel Maya, , ” Maya Organizations: BCP Bank, REUTERS, Poland’s, Millennium bcp, bcp Locations: LISBON, Lisbon, Portugal, Angola, Mozambique
LISBON (Reuters) -Portugal’s largest listed bank Millennium bcp plans to cut operating costs and promote digital banking over the next four years, aiming to boost its return-on-equity (ROE) to 10% by 2024, the bank said on Monday. FILE PHOTO: People walk near a branch of Millennium BCP Bank in downtown Lisbon, Portugal, May 11, 2016. “We want to successfully overcome the impact of the pandemic and achieve robust levels of profitability, a 10% ROE in 2024,” he said at a press conference. The bank reported a profit of 12.3 million euros ($14.52 million) in the first half, down from 76 million euros during the same period last year, it said in a statement. Loan impairments fell by 34% to around 157 million euros between April and June, compared with a year ago, but other impairments and provisions surged 167% to 304,9 million euros, the bank said.
Persons: Rafael Marchante, Miguel Maya, ROE, , Maya Organizations: bcp, BCP Bank, REUTERS Locations: LISBON, Lisbon, Portugal, Angola, Mozambique
Renewed competition with Russia and China means Africa is growing as an arena for geopolitical maneuvering. But the US is doing "very little" to counter those near-peer competitors in Africa, according to John Black, a retired Special Forces warrant officer with extensive experience in Africa. Nigerian Navy Special Boat Service troops train under the supervision of British special forces during a US military-led counterterrorism exercise in Senegal, February 18, 2020. US Army Special Forces teams went in to train and advise their Mozambican counterparts. Stavros Atlamazoglou is a defense journalist specializing in special operations, a Hellenic Army veteran (national service with the 575th Marine Battalion and Army HQ), and a Johns Hopkins University graduate.
Persons: Vladimir Putin, Sergei Chirikov, Khalifa Haftar, MAHMUD TURKIA, John Black, Black, Dominic Pitrone, you've, Chris Hibben, we've, , Stavros Atlamazoglou Organizations: US, Service, American, Africa, Pentagon, Government, National Accord, Getty, US Defense Department, Special Forces, US Marine, Djibouti's National Gendarmerie, Marine Corps, State Department, Green Beret, Nigerian Navy, Boat Service, Associated, Special Operations Command, French Foreign Legion, US Air Force, Tech, Army Special Forces, Mozambican, Navy SEAL, Hellenic Army, 575th Marine Battalion, Army, Johns Hopkins University Locations: Russia, China, Africa, North, East Africa, Sochi, Afghanistan, Iraq, Syria, Tripoli, AFP, Geneva, Senegal, Haram, Al Shabaab, Al Qaeda, France, Sahel, Burkina Faso, Chad, Mali, Mauritania, Niger, Mozambique, Maputo
TotalEnergies has said its $20 billion gas project will remain on hold until security is restored in the province in a "verifiable and sustainable manner". read moreThe Mozambican government says Palma itself is now pacified and it is working to ensure peace in Cabo Delgado. TotalEnergies and Exxon, meanwhile, hope Mozambique will help plug LNG shortfalls expected in the middle of the decade. TotalEnergie's project was due to produce 12.9 million tonnes per annum initially from 2024 which Credit Suisse estimates is equivalent to about a year's worth of global LNG demand growth. "It's not Total that's going to re-establish peace," Patrick Pouyanne, chief executive of TotalEnergies, told investors in May.
Persons: Gonzalo Fuentes, TotalEnergies, Sam Ratner, Cabo, Galp, Palma, Filipe Nyusi, Cabo Delgado, Alexandre Raymakers, Afungi, Islamic State's, FORT KNOX, It's, Patrick Pouyanne, We're, Dino Mahtani, Emma Rumney, David Lewis, Ron Bousso, Benjamin Mallet, Manuel Mucari, Joe Bavier, Eleanor Whalley, David Clarke Organizations: La Defense, REUTERS, Regional, Islamic, Reuters, United Nations, Exxon Mobil, Exxon, Southern, Development Community, Rwandan, SADC, European Union, TotalEnergies, Five, Vehicles, FORT, Crisis, Thomson Locations: La, Courbevoie, Paris, France, JOHANNESBURG, Islamic State, Palma, Cabo Delgado, tatters, Mozambican, Mozambique, SADC, Cabo, Africa, Maplecroft, United States, Portugal, West Africa's, Praia, Fort Knox, Brussels, Johannesburg, Nairobi, London, Maputo
‘It’s Like Mecca for Judo’
  + stars: | 2021-07-22 | by ( Tariq Panja | ) www.nytimes.com sentiment -0.99   time to read: 1 min
TOKYO — Edson Madeira was struggling to summon the right words. Nothing he thought of could quite do justice to the emotions he was feeling. “It’s like Mecca. It’s like Mecca for judo.”Madeira, a coach from Mozambique, had just finished a training session on the fifth floor of the Kodokan Judo Institute. For judokas, the institute is revered as something akin to a holy site: the place where the sport started more than a century ago.
Persons: Edson Madeira, , Organizations: TOKYO, Kodokan Judo Locations: Mecca, It’s, ” Madeira, Mozambique
France opens doors to vaccinated travellers, restricts others
  + stars: | 2021-07-17 | by ( ) www.reuters.com + 0.00   time to read: +2 min
A sign to respect social distancing is seen at deserted check-in desks at Nice international airport as France closed its borders to travellers outside European Union due to restrictions against the spread of the coronavirus disease (COVID-19) in France, February 1, 2021. REUTERS/Eric GaillardPARIS, July 17 (Reuters) - France will reinforce restrictions on unvaccinated travellers from a series of countries to counter a rebound in COVID-19 infections, while opening its doors to those who have received all their shots, Prime Minister Jean Castex said on Saturday. Currently tests can date from 48 hours for UK travellers and 72 hours for the other countries listed. Castex's announcement follows Britain's decision on Friday to keep quarantine rules for travellers from France, which had been due to be eased on Monday. read moreFully vaccinated travellers from any country of departure will be able to enter France without a test from Saturday, Castex said in a statement.
Persons: Eric Gaillard PARIS, Jean Castex, Emmanuel Macron, Castex, Janssen, Sybille de La, Catherine Evans Organizations: Nice, Union, REUTERS, European Medicines Agency, Pfizer, Moderna, AstraZeneca, Thomson Locations: France, COVID, United Kingdom, Spain, Portugal, Cyprus, Netherlands, Greece, Tunisia, Mozambique, Cuba, Indonesia
France: Thousands Protest Against Vaccination, COVID Passes
  + stars: | 2021-07-17 | by ( Associated Press | July | At P.M. | ) www.usnews.com + 0.00   time to read: +3 min
By CONSTANTIN GOUVY and ANGELA CHARLTON, Associated PressPARIS (AP) — Thousands of people marched around France on Saturday to protest mandatory vaccinations for health care workers and COVID-19 passes that will be required to enter restaurants and other venues. Demonstrations also took place in Strasbourg in the east, Lille in the north, Montpellier in the south and elsewhere in France. Meanwhile, the French government announced tightened border controls starting Sunday, but also said it would allow in travelers from anywhere in the world who have been fully vaccinated. France still doesn't recognize the COVID-19 vaccines made in China or Russia, only the ones authorized by the EU drug regulator: those made by Pfizer/BioNTech, Moderna, Johnson & Johnson and AstraZeneca. However, France now will grant entry to travelers from any red list countries if they are fully vaccinated.
Persons: CONSTANTIN GOUVY, ANGELA CHARLTON, Emmanuel Macron, , Macron, ___ Elaine Ganley Organizations: Associated Press PARIS, AstraZeneca, India’s Serum, Pfizer, Johnson Locations: France, Paris, Strasbourg, Lille, Montpellier, Europe, Africa, China, Russia, EU, Moderna, Britain, Spain, Portugal, Netherlands, Greece, Cyprus, Tunisia, Indonesia, Cuba, Mozambique, France’s
(Adds details on IDA fund, countries setting replenishment goal)WASHINGTON, July 15 (Reuters) - The World Bank said that leaders of 23 African countries on Thursday called for a largest-ever $100 billion replenishment of the International Development Association (IDA), the global lender’s fund for the world’s poorest countries. The leaders set the goal in a joint declaration after a summit meeting in Abidjan, Ivory Coast, the World Bank said in a statement. World Bank member countries normally replenish IDA every three years, setting its previous financing package at $82 billion to cover the 2021-2023 fiscal years. The World Bank aims to complete the 20th replenishment of IDA in December, covering the 2023-2025 fiscal years. The declaration here from the African leaders marks the first request for a $100 billion replenishment goal.
Persons: David Lawder, Chris Reese, Aurora Ellis Organizations: IDA, Bank, International Development Association, World Bank, Democratic Locations: WASHINGTON, Abidjan, Ivory Coast, Angola, Benin, Burkina Faso, Cameroon, Democratic Republic of Congo, Ethiopia, Ghana, Guinea, Guinea Bissau, Kenya, Liberia, Madagascar, Mauritania, Mozambique, Niger, Nigeria, Uganda, Rwanda, Senegal, Sudan, Tanzania, Togo
Surgeon General Calls Covid Misinformation an ‘Urgent Threat to Public Health’ The Delta variant is fueling a rising U.S. caseload as vaccinations slow, though the tens of millions of Americans who are inoculated are largely protected. In Haiti, the country’s first vaccine doses have arrived. About four million doses have been delivered so far, to Bolivia, El Salvador and Honduras, according to the Pan American Health Organization. More than three million children in India did not receive a first dose of the diphtheria-tetanus-pertussis vaccine, known as DTP-1, in 2020, up from 1.4 million in 2019. Only 2.2 percent of Congo’s nearly 90 million people has received at least one dose of a coronavirus vaccine, according to a New York Times tracker.
Persons: Federico Rios, Jovenel Moïse, Biden, Carissa, Etienne, Marie Gréta Roy Clément, , Clément, , Arun Sankar, Covid, , Tedros Adhanom Ghebreyesus, Seth Berkley, Dr, Berkley, Isabella Kwai, Sumaya Hisham, Matshidiso Moeti, Moeti, Jean, Jacques Mbungani Mbanda, Mbanda, W.H.O, Anna Schaverien, Jenny Evans, Scott Morrison, Morrison, Gladys Berejiklian, Kevin Rudd, Morrison’s, China Stringer Organizations: U.S, Public Health, Street, The New York Times, Covax, Pan American Health Organization, World Health Organization, New York Times, Moderna, Associated Press, Officials, Agence France, UNICEF, Gavi, Vaccine Alliance, Democratic, Getty, AstraZeneca, Pfizer, Australian Technical, Australia, Pfizer’s Australia, China, China Stringer Network, Reuters, China Global Television Network, Local Locations: U.S, Haiti, Port, United States, America, Americas, United, Caribbean, Latin America, Bolivia, El Salvador, Honduras, Chennai, India, Southeast Asia, Indonesia, Pakistan, Philippines, Mexico, Mozambique, , Africa, Johannesburg, NAIROBI, Kenya, Europe, Saharan Africa, Algeria, Malawi, Senegal, South Africa, Democratic Republic of Congo, Congo, Congo’s, Sydney, Australia, New South Wales, Australia’s, Victoria, Melbourne, China, Xiangyang, Bazhong, Sichuan, Laos, Asia, Sichuan Province
Live Covid Live Updates: Los Angeles County Will Require Masks Indoors as Delta Variant Spreads The virus sweeps across Africa at a pace not seen before. Los Angeles County will require masks to be worn indoors as Delta variant spreads. In Los Angeles County, the Delta variant accounts for nearly half of all variants genetically sequenced. Credit... Marcio Jose Sanchez/Associated Press Los Angeles County announced Thursday that it will require masks to be worn inside regardless of vaccination status, as the highly contagious Delta variant spreads throughout California. The organization said a million cases were reported on the continent in the past month alone, pushing Africa’s overall caseload to six million.
Persons: Marcio Jose Sanchez, Anthony S, Hospitalizations, , Anne Rimoin, Sumaya Hisham, Matshidiso Moeti, , Moeti, Jean, Jacques Mbungani Mbanda, Mbanda, W.H.O, , Tedros Adhanom Ghebreyesus, Anna Schaverien, Biden, Vivek Murthy, Caroline Brehman, Biden’s, Tucker Carlson, Laura Ingraham, Murthy, Jen Psaki, Twitter, Dr, “ We’re, ” Sheryl Gay Stolberg, Federico Rios, Jovenel Moïse, Carissa, Etienne, Marie Gréta Roy Clément, Clément, Arun Sankar, Covid, , Seth Berkley, Berkley, Isabella Kwai, Silvia Bertagnolio, Bertagnolio, Steven Deeks, Jenny Evans, Scott Morrison, Morrison, Gladys Berejiklian, Kevin Rudd, Morrison’s, Suzanne Brennan Firstenberg, Stefani Reynolds, Firstenberg, Ms, China Stringer Organizations: Associated Press Los, Public, New York Times, University of California, Los Angeles Fielding School of Public Health, Centers for Disease Control, World Health Organization, Democratic, International Development Association, Surgeons, Fox News, White House, Facebook, Twitter, YouTube, U.S, Street, The New York Times, Covax, Pan American Health Organization, Moderna, Associated Press, Officials, Agence France, UNICEF, Gavi, Vaccine Alliance, Reuters, Getty, AstraZeneca, Pfizer, Australian Technical, Australia, Pfizer’s Australia, Armory, ., National Museum of, Truman, China, China Stringer Network, China Global Television Network, Local Locations: Angeles, Africa, U.S, Los Angeles County, Associated Press Los Angeles, California, L.A . County, United States, Arkansas , Missouri, Louisiana, Nevada, L.A ., Los Angeles, L.A, County, Los, Johannesburg, NAIROBI, Kenya, Europe, Saharan Africa, Algeria, Malawi, Senegal, South Africa, Democratic Republic of Congo, Congo, Congo’s, Ivory, Abidjan, Covid, Haiti, Port, America, Americas, United, Caribbean, Latin America, Bolivia, El Salvador, Honduras, Chennai, India, Southeast Asia, Indonesia, Pakistan, Philippines, Mexico, Mozambique, , ., Berlin, San Francisco, Sydney, Australia, New South Wales, Australia’s, Victoria, Melbourne, . Credit, Washington, China, Xiangyang, Bazhong, Sichuan, Laos, Asia, Sichuan Province
MAPUTO, July 12 (Reuters) - The central bank of Mozambique has fined Africa’s biggest lender, Standard Bank, $4.6 million for engaging in fraudulent activities, Bank of Mozambique said on Monday. The central bank also fined two of Standard Bank’s employees around $223,000 and $101,000 each, and barred the bank from engaging in some exchange-related activities for a year, it said in a statement. Standard Bank, which is based in South Africa, did not immediately respond to a request for comment. The central bank said following on-site inspections “infringement proceedings were brought against that bank (Standard Bank) and two of its managers ... for serious breaches of a prudential and exchange rate nature.”It alleged the bank and the two employees were involved in fraudulent manipulation of the exchange rate, implementing an illegal payments network based outside the country, and carrying out irregular operations of financial derivatives, among other offences.
Organizations: Standard Bank, Bank of, prudential Locations: MAPUTO, Mozambique, Bank of Mozambique, South Africa
EU agrees to send military training mission to Mozambique
  + stars: | 2021-07-12 | by ( ) www.reuters.com sentiment -0.98   time to read: +1 min
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman/File Photo/File PhotoBRUSSELS, July 12 (Reuters) - The European Union will set up a military training mission in Mozambique to help the government tackle a growing Islamist insurgency and to protect civilians, the bloc said on Monday. Mozambique, which has called on the EU for help, has been grappling with a rebellion in its northernmost province of Cabo Delgado since 2017. EU foreign policy chief Josep Borrell has said that 200-300 personnel could be deployed to Mozambique by the end of the year. Reporting by Sabine Siebold and Robin Emmott; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.
Persons: Yves Herman, Cabo Delgado, Josep Borrell, Sabine Siebold, Robin Emmott, Angus MacSwan Organizations: EU, REUTERS, European Union, European Council, Thomson Locations: Brussels, Belgium, BRUSSELS, Mozambique, Cabo, Portugal, EU, Cabo Delgado
REUTERS/Umit Bektas/File PhotoA quarter of a century after the IMF and World Bank launched their HIPC debt relief program, Sudan is the penultimate economy to come through the process, and “by far the largest case in absolute terms,” an IMF official said last month. Decision point confirmation clears the path for immediate interim relief on some of Sudan’s debt. To get comprehensive, irrevocable reduction in debt, Sudan must meet conditions for “completion point,” which many predict Khartoum can hit within three years. “The U.S. is pleased to join other Paris Club members in providing both immediate and future debt relief,” the U.S. Treasury said in a statement on Tuesday. NO PANACEAOf 39 countries eligible for HIPC programme, only Sudan and Eritrea were left of the ones that took part.
Persons: Umit, , “ It’s, Ian Clark, Lazard, Omar al, Bashir, Magdi Amin, Chad –, Jonas Horner Organizations: Reuters, Monetary Fund’s, REUTERS, IMF, World Bank, Paris Club, African Development Bank, . Treasury, , Crisis Locations: Sudan, Khartoum, Kuwait, Saudi Arabia, China, U.S, Eritrea, – Ethiopia, Zambia, Chad, Mozambique, Congo
Now at the programme's "decision point," Sudan will see its external debt drop to about $30 billion relatively soon. It will then fall to $6 billion when Sudan achieves irrevocable debt relief after an estimated three years, at the "completion point," IMF mission head Carol Baker said. Deepened by decades of isolation and sanctions, Sudan's economic crisis includes inflation approaching 400%, shortages of basic goods and services and a spike in food insecurity. This will provide Sudan much needed direct financing but requires that Sudan push ahead with reforms also required for permanent debt relief. The IMF estimated in April that Sudan needs more than $7 billion in external financing over the next two years.
Persons: Carol Baker, It's, Ian Clark, Lazard, Abdalla Hamdok, Omar al, Bashir, Chad –, Baker, Magdi Amin, Jonas Horner, Nafisa Eltahir, Karin Strohecker, David Lawder, Andrea Shalal, Khalid Abdelaziz, Alaa, Aidan Lewis, Sonya Hepinstall, Aurora Ellis, Cynthia Osterman Organizations: Government, International Monetary Fund, IMF, Bank, Paris Club, World Bank, African Development Bank, , France, Reuters, Crisis, Thomson Locations: Sudan, U.S, Israel, Kuwait, Saudi Arabia, China, – Ethiopia, Zambia, Chad, Mozambique, Congo, Khartoum, Cairo, London, Washington
(Adds Sasol comment)JOHANNESBURG, June 27 (Reuters) - State-owned energy companies from South Africa and Mozambique have exercised their rights to buy the 30% stake in the ROMPCO natural gas pipeline that Sasol is selling, the companies said on Sunday. iGAS and CMG will now increase their stakes in ROMPCO to 40% each from their current level of 25%. Sasol, which is trying to shed assets to pay off debt, will reduce its shareholding from 50% to 20%. Sasol said in a statement: “We can confirm that Sasol has received pre-emptive rights notices and will now review the notices. We believe that the successful partners will add significant value to this important regional energy asset.”
Persons: Sasol, Gasoduto, iGAS, , Organizations: . Petrochemical, Reatile Group, South Africa’s Central Energy Fund, Companhia Moçambicana, Mozambique’s Empresa Nacional de, Central Energy Fund, Empresa Nacional de Locations: JOHANNESBURG, South Africa, Mozambique, South, Mozambique’s Empresa Nacional de Hidrocarbonetos, ROMPCO
A Month Before the Olympics, How Is Japan Faring With Covid?
  + stars: | 2021-06-23 | by ( Lauren Leatherby | ) www.nytimes.com + 0.00   time to read: +6 min
With a month to go until the Tokyo Olympics and a state of emergency freshly lifted in most of the country, Japan is seeing relatively low coronavirus case counts after a surge last month. This weekend, as cases continued to fall, Japan ended the emergency measures in most prefectures but will maintain some targeted restrictions in Tokyo and elsewhere. Japan has managed to keep cases relatively low throughout the pandemic compared with other rich countries, though variants have made recent outbreaks harder to control. New cases in Japan per day, seven-day average April 1, Jan. 1, June 21, 2020 2021 2021 First state of emergency declared. Two months after many other countries, Japan administers the first shots of the Covid vaccine to health care workers.
Persons: caseload Organizations: Tokyo, Games, Seychelles Singapore Chile Uruguay San Marino U.K, China Japan Malta U.S, Singapore Seychelles Chile Uruguay San Marino U.K, Bank, for Systems Science, Engineering, Johns Hopkins University, Pfizer, Olympics, Moderna, AstraZeneca Locations: Japan, Japan Greece China Malta U.S, Seychelles Singapore Chile Uruguay, Israel Germany Turkey Brazil Morocco Australia Mozambique, China Japan Malta, Singapore Seychelles Chile Uruguay, Japan Portugal Turkey, Seychelles Israel U.S, China Germany Vietnam, Tokyo, United States, United Kingdom, Moderna
EU military mission to Mozambique to be approved next month
  + stars: | 2021-06-23 | by ( ) www.reuters.com sentiment -0.99   time to read: +1 min
Portugal's Foreign Minister Augusto Santos Silva speaks during a news conference following a European Union Foreign Trade ministers meeting at the European Council headquarters in Brussels, Belgium May 20, 2021. Francisco Seco/Pool via REUTERS/File PhotoLISBON, June 23 (Reuters) - A European Union military mission to support and train up Mozambican troops to tackle an escalating insurgency linked to Islamic State could be approved next month, Portugal's foreign minister said on Wednesday. "We hope that...it will be formally approved so we can launch this European mission to support Mozambique in the fight against terrorism", Santos Silva said. Portugal, which holds the EU's rotating presidency until the end of the month, has already sent 60 soldiers to Mozambique to train local troops. Josep Borrell, bloc's foreign policy chief, said in May the EU could have a military training mission in place in Mozambique within several months, acknowledging the problem was finding additional countries besides Portugal to supply troops.
Persons: Augusto Santos Silva, Francisco Seco, Santos Silva, Cabo Delgado, Josep Borrell, Patrícia Vicente Rua, Catarina Demony, Jonathan Oatis Organizations: Portugal's, European Union Foreign Trade, European, European Union, Islamic, EU, Thomson Locations: Brussels, Belgium, LISBON, Lisbon, Mozambique, Cabo, Islamic State, Palma, Portugal
Five emerging markets to benefit most from IMF's SDR move - S&P
  + stars: | 2021-06-22 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Johannes P. ChristoLONDON (Reuters) - A planned $650 billion increase in the International Monetary Fund’s Special Drawing Rights will restore complete reserve adequacy in five emerging market economies, S&P Global said on Tuesday. The five are among 44 emerging market countries rated ‘B+’ or below by S&P that were analysed by the rating agency to see what impact the allocation would have on their reserve adequacy. It would take a reallocation of an estimated 42% of wealthy country SDR allocations to lower-income countries, both rated and unrated, to bring the reserve levels in all rated lower-income countries up to complete reserve adequacy, S&P said. Following the initial SDR allocation, S&P estimated a total of $189 billion would still be required to bring all remaining ‘B+’ or lower rated sovereigns up to adequate levels. In contrast, seven countries - Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize, and Suriname - would need less than $1 billion each to shore up reserves to levels deemed adequate by all three benchmarks, S&P estimated.
Persons: Johannes P, Christo Organizations: IMF, International Monetary Fund, REUTERS, Christo LONDON, Monetary, P Global, Democratic Locations: Nusa Dua, Bali, Indonesia, Zambia, Jordan, El Salvador, Benin, Togo, Democratic Republic of Congo, Suriname, United States, Turkey, Bahrain, Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize
IMF's SDR cash will still leave poorest nations short, S&P says
  + stars: | 2021-06-22 | by ( Tom Arnold | ) www.reuters.com + 0.00   time to read: +3 min
Because the IMF's cash gets divided between all its countries, including rich ones, only 7% or $42 billion will go to the 44 poorer nations with the lowest S&P sovereign credit rating scores. The United States and other Group of Seven nations are considering redistributing $100 billion of the $280 billion they will get from the new SDR handout. "We calculate a reallocation of an estimated 42% of wealthy country SDR allocations to low-income countries (LIC).. would be what it would take to bring the reserve levels in all rated LIC up to complete reserve adequacy," S&P said. Seven countries - Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize, and Suriname - would need less than $1 billion each to shore up their reserves. Fund managers see the SDR overhaul as a boost for low-income economies without relieving financial pressures altogether.
Persons: Johannes P, Christo LONDON, Aaron Grehan, Tom Arnold, William Maclean Organizations: IMF, International Monetary Fund, REUTERS, Global, Democratic, Fund, Aviva Investors, Thomson Locations: Nusa Dua, Bali, Indonesia, Zambia, Jordan, El Salvador, Benin, Togo, Democratic Republic of Congo, Suriname, Turkey, United States, Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize
Five emerging markets to benefit most from IMF's SDR move -S&P
  + stars: | 2021-06-22 | by ( ) www.reuters.com sentiment -0.99   time to read: +2 min
REUTERS/Johannes P. ChristoLONDON, June 22 (Reuters) - A planned $650 billion increase in the International Monetary Fund's Special Drawing Rights will restore complete reserve adequacy in five emerging market economies, S&P Global said on Tuesday. The five are among 44 emerging market countries rated 'B+' or below by S&P that were analysed by the rating agency to see what impact the allocation would have on their reserve adequacy. read moreIt would take a reallocation of an estimated 42% of wealthy country SDR allocations to lower-income countries, both rated and unrated, to bring the reserve levels in all rated lower-income countries up to complete reserve adequacy, S&P said. Following the initial SDR allocation, S&P estimated a total of $189 billion would still be required to bring all remaining 'B+' or lower rated sovereigns up to adequate levels. In contrast, seven countries - Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize, and Suriname - would need less than $1 billion each to shore up reserves to levels deemed adequate by all three benchmarks, S&P estimated.
Persons: Johannes P, Christo LONDON, Tom Arnold, William Maclean Organizations: IMF, International Monetary Fund, REUTERS, Monetary, P Global, Democratic, Thomson Locations: Nusa Dua, Bali, Indonesia, Zambia, Jordan, El Salvador, Benin, Togo, Democratic Republic of Congo, Suriname, United States, Turkey, Bahrain, Burkina Faso, Mozambique, Kenya, Bolivia, Congo Republic, Belize
Syrian refugees walk as they carry containers at an informal tented settlement in the Bekaa valley, Lebanon March 12, 2021. Nearly 70% of those affected are from just five countries - Syria, Venezuela, Afghanistan, South Sudan and Myanmar - according to the annual report on forced displacement by the U.N. Amid a rise in populism and nationalism in global politics, Grandi called on world leaders to "stop demonizing people" that are forced to move. Grandi, who recently visited Washington, praised new President Joe Biden's pledge to "restore a U.S. asylum system that is both effective and humane." The UNHCR report found that in 2020 just 34,400 refugees were formally resettled globally - one-third of the previous year.
Persons: Mohamed Azakir, Filippo Grandi, Grandi, Donald Trump, Joe Biden's, Michelle Nichols, Rosalba O'Brien Organizations: REUTERS, United Nations, Reuters, . Refugee Agency UNHCR, Former U.S, UNHCR, Thomson Locations: Lebanon, Syria, Venezuela, Afghanistan, South Sudan, Myanmar, Mozambique, West Africa's, Tigray, Somalia, Washington, U.S, United States, Canada, Europe
A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. The bids show energy giants continue to have appetite for investing in competitive oil and gas projects despite growing government, investor and activist pressure on the sector to tackle greenhouse gas emissions. The outlook for global LNG supplies tightened sharply in recent months after Total suspended its $20 billion LNG project in Mozambique due to a surge in violence. read moreIt followed a string of delays of LNG projects in North America as COVID-19 hobbled demand last year. read moreQatar is also in talks to make Chinese firms partners in the project, sources told Reuters last month.
Persons: Issei Kato, Conoco, Exxon, LOWER, QP Organizations: REUTERS, Exxon Mobil, Royal, Shell, TotalEnergies, ConocoPhillips, Chevron, Eni, Reuters, Qatar Petroleum, ExxonMobil, International Energy Agency, U.N, European, Total, Global, Qatari, Exxon, Thomson Locations: Futtsu, Tokyo, Japan, Qatar, Shell, Chevron, TotalEnergies, State, Mozambique, North America, Asia
More pets eating insect food to fight climate change for owners
  + stars: | 2021-06-12 | by ( Tim Hornyak | ) www.cnbc.com + 0.00   time to read: +6 min
"I would certainly consider feeding my dogs insects as a treat or training reward," says Laurie Dunbar, a veterinarian at Pierrefonds Animal Hospital in Montreal. Established in 2019, Yora introduced the first insect protein pet food sold in the U.K. Start-ups and long-established companies are introducing bugs to change the pet food market, which was worth some $42 billion in the U.S. in 2020, according to the American Pet Products Association. Phillip Cooper, PetIndustryExpert.comLast November, Nestlé introduced a Purina pet food containing fly larvae, plant and animal protein. U.S. pet food market
Persons: Laurie Dunbar, Sally Anscombe, Yora, Glenn Rankin, Robert Downey Jr, Protifarm, isn't, RaboResearch, Mars, It's, Phillip Cooper, PetIndustryExpert.com, Nestlé, Dan Smith Organizations: Animal Hospital, DigitalVision, Footprint Coalition, American Pet Products Association, Purina, Nestlé's, Strategic Business Unit Locations: Montreal, North America, Europe, Dutch, Germany, Mozambique, Philippines, U.S, Switzerland, Swiss
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