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[1/4] Chinese President Xi Jinping and France's President Emmanuel Macron meet at the Guandong province governor's residence, in Guangzhou, China, Friday, April 7, 2023. Macron's comments came in an interview on a trip to China that was meant to showcase European unity on China policy, with European Commission President Ursula von der Leyen also taking part, but highlighted differences within the European Union. A senior diplomat from Central and Eastern Europe, speaking on condition of anonymity, said: "President Macron is not speaking for Europe or the European Union. The French foreign ministry cancelled a planned debrief on the trip for foreign diplomats in Paris on Tuesday as officials scrambled to make sure they had a consistent message and to limit any fallout with Washington. But even some of those broadly supportive of Macron's agenda lamented the handling of the China trip, in which von der Leyen received a much more muted welcome than the French president.

☆ Europe cannot turn its back on China, Spanish minister says
▼ + stars: | 2023-04-11 | by ( ) www.reuters.com time to read: +2 min

MADRID, April 11 (Reuters) - Europe cannot ignore China's role as a key trading partner and important geopolitical player that could help put an end to the war in Ukraine, or provide debt relief for low-income countries, Spanish Economy Minister Nadia Calvino said on Tuesday. "We need to use the time to reinforce our common safety net protecting most vulnerable countries ... and here again we cannot just ignore China. Top officials from China will make their first in-person attendance at the Washington meetings in three years. Calvino said she hoped to deliver good news on debt relief to these countries later this year. Reporting by David Latona and Belen Carreno; Editing by Andrei Khalip and David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ TSMC talking to US about CHIPS Act 'guidance' amid subsidy concerns
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, April 10 (Reuters) - Taiwanese chipmaker TSMC (2330.TW) said on Monday it is communicating with Washington about its "guidance" for a law designed to boost U.S. semiconductor manufacturing that has sparked concerns about subsidy criteria. "We can confirm that we are communicating with the U.S. government about the CHIPS ACT guidance," TSMC, the world's leading contract chipmaker, said in a short emailed statement. Taiwan Economy Minister Wang Mei-hua told reporters on Monday that TSMC was specifically talking to the United States about the details of the subsidies. Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is investing $40 billion in a new plant in the western U.S. state of Arizona, supporting Washington's plans for more chip-making at home. The subsidies would come from a $52 billion pool of research and manufacturing funds earmarked under the CHIPS Act.

BUENOS AIRES, April 10 (Reuters) - Argentina has patched up its wobbly economy with a so-called "soy dollar" preferential exchange rate to boost grains exports and bring in much-needed foreign currency, which analysts said would give the government breathing room, at least temporarily. "The 'farm dollar' will not create extra foreign currency, but at least will accelerate it coming in and so provide temporary relief," said economist Gustavo Ber, adding that foreign currency reserves had hit "critical levels." Reuters Graphics Reuters GraphicsThe so-called "soy dollar" was used twice last year and did help create a boost in exports, at least in the short-term helping ease availability of foreign currency. "This new measure aims to buy two months, which in the current context is not insignificant," Geretto told Reuters. Reporting by Walter Bianchi and Anna-Catherine Brigida; Editing by Adam Jourdan and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ German business group wants Berlin to offer more protection in Ukraine
▼ + stars: | 2023-04-07 | by ( ) www.reuters.com time to read: +2 min

BERLIN, April 7 (Reuters) - German companies active in eastern European have called on the government in Berlin to take on more risk and provide increased security for business in Ukraine, particularly for transport. "The federal government has to take on more risk than usual," Harms said, and it "shouldn't relieve companies of business risk but should help with creative instruments." The association's demand follows German Economy Minister Robert Habeck's promise during a visit to Kyiv this week to provide German companies investment guarantees in Ukraine as part of reconstruction efforts. "Company representatives say that these investment guarantees are necessary in order to get investment decisions through the board of directors," said Harms, who travelled with Habeck to Kyiv. More than 20 applications for such investment guarantees are in the pipeline, ministry sources said.

☆ Exclusive: Germany's Stada asks Berlin to help secure its future in Ukraine
▼ + stars: | 2023-04-04 | by ( Patricia Weiss | ) www.reuters.com time to read: +2 min

In the March 21 letter to German Economy Minister Robert Habeck, Stada CEO Peter Goldschmidt said there was a risk Kyiv might withdraw the company's market authorisation. Habeck promised investment guarantees for German companies during a trip to Ukraine on Tuesday as part of his goal to speed up reconstruction in the war-torn country. Pharmaceutical companies such as Stada and German rivals Bayer (BAYGn.DE) and Boehringer Ingelheim continue to deliver medicines to the country. Stada is very keen to maintain its presence in Ukraine, Goldschmidt told Habeck. "Therefore, we would like to ask you again for your support and for clear signals in the direction of Ukraine to strengthen German companies there," his letter added.

☆ Yellen urges IMF to press creditors to finalize debt restructurings
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +1 min

WASHINGTON, April 4 (Reuters) - U.S. Treasury Secretary Janet Yellen on Tuesday called for quicker action to resolve several outstanding sovereign debt restructuring cases and urged the International Monetary Fund to press all bilateral creditors to finalize such deals. The Treasury said Yellen raised the issue during meetings with IMF Managing Director Kristalina Georgieva and Spanish Economy Minister Nadia Calviño, who heads the IMF's steering committee, ahead of next week's IMF and World Bank spring meetings of the IMF and World Bank. "Secretary Yellen urged the IMF to deepen its efforts to support low- and middle-income countries facing debt distress, including by continuing to press all bilateral official creditors to finalize outstanding debt restructuring cases," the IMF said in a statement. It added that Yellen discussed with Georgieva and Calviño priorities for the IMF and World Bank meetings, recent developments in the global economy and financial system, and the need to continue support for low-income and vulnerable countries. Reporting by Andrea Shalal; Editing by Leslie Adler and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Montenegro's ex-Economy Minister Jakov Milatovic declares victory in run-off presidential vote
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: 1 min

PODGORICA, April 2 (Reuters) - Montenegro's former Economy Minister Jakov Milatovic declared victory in a presidential election run-off on Sunday, ahead of long-standing incumbent Milo Djukanovic. "Tonight is the night we have been waiting for over 30 years and I wish you a happy this victory of all of us," Milatovic told cheering supporters of his right-centrist Europe Now Movement in its party headquarters in Podgorica. "Within the next five years, we will lead Montenegro into the European Union," he said. Reporting by Aleksandar Vasovic; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Montenegro run-off presidential election under way
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +3 min

[1/13] A man prepares to vote at a polling station during the run-off presidential election in Podgorica, Montenegro, April 2, 2023. REUTERS/Marko DjuricaPODGORICA, April 2 (Reuters) - Montenegrins went to the polls on Sunday in a run-off presidential election pitting incumbent Milo Djukanovic against a Western-educated economist pledging to lift the nation out of a crisis marked by no-confidence votes in two governments. He led Montenegro to independence from a state union with much larger Serbia in 2006 and to NATO membership in 2017. Although the presidential post in Montenegro is largely ceremonial, victory in the election would bolster the chances of the winner's party in June. After Russia's invasion of Ukraine last year, Montenegro joined EU sanctions against Moscow and expelled a number of Russian diplomats.

☆ Montenegro holds run-off presidential election
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +2 min

[1/5] A child plays with a ball on a street, a day before the second round of presidential elections in Podgorica, Montenegro, April 1, 2023. REUTERS/Marko DjuricaPODGORICA, April 2 (Reuters) - Montenegrins were set to vote in a run-off presidential election on Sunday, pitting long-time incumbent Milo Djukanovic against a Western-educated economist pledging to lift the nation out of a crisis marked by no-confidence votes in two governments. Djukanovic, 61, has dominated Montenegro as president or prime minister for 33 years, since the start of the collapse of the now-defunct federal Yugoslavia. Djukanovic wound up with 35.37% of the vote in the first round of the election on March 19, with Milatovic on 28.92%, necessitating a run-off as neither garnered a 50% majority, and analysts have predicted a tight race in the run-off. Although the presidential post in Montenegro is largely ceremonial, a victory in the election would bolster the chances of the winner's party in June.

☆ Italian minister warns ECB of risk from higher interest rates
▼ + stars: | 2023-04-01 | by ( Federico Maccioni | ) www.reuters.com time to read: +1 min

CERNOBBIO, Italy, April 1 (Reuters) - The outlook for the Italian economy is improving but higher interest rates designed to curb inflation could pose a threat to growth, Italy's economy minister said on Saturday, sending a warning to the European Central Bank (ECB). "Fighting inflation with monetary policy is not enough, recession cannot be the price paid for fighting inflation," Giancarlo Giorgetti said. Giorgetti is from the League party which last month criticised the ECB for pushing ahead with its latest 50 basis point rate increase despite turmoil in the banking sector. He added it would be difficult for the European Union when it comes to reintroducing budget rules that remain suspended until the end of 2023. Reporting by Giancarlo Navach and Federico Maccioni, Writing by Keith Weir Editing by Emelia Sithole-Matarise and Mark PotterOur Standards: The Thomson Reuters Trust Principles.

Prime Minister Rishi Sunak said Britain had agreed to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in a move his office said was the biggest trade deal since Brexit. Britain has been looking to build global trade ties following its departure from the EU in 2020 and has looked to pivot toward geographically distant but fast-growing economies. The overall impact of the trade deal is set to be modest. Japan has asked the U.S. to return to the trans-Pacific trade pact after Washington in 2017 formally withdrew from the Trans-Pacific Partnership trade deal, the predecessor to the CPTPP. Japan's chief cabinet secretary Hirokazu Matsuno said it was "desirable" for the U.S. to rejoin the trade pact and Tokyo would persist in pressing Washington to become a member.

☆ Taiwan says US officials have visited to discuss concerns about chip subsidies
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] Taiwan Economy Minister Wang Mei-Hua and the Speaker of the Czech Republic parliament Marketa Pekarova Adamova attend a Taiwan-Czech Joint Business Council Meeting in Taipei, Taiwan, March 27, 2023. REUTERS/I-Hwa ChengTAIPEI, March 31 (Reuters) - The United States has sent officials to Taiwan to listen to concerns in the chip industry about the criteria for new U.S. semiconductor subsidies, Taiwan Economy Minister Wang Mei-hua said on Friday. The criteria are worrying companies like Samsung Electronics Co Ltd (005930.KS) and SK Hynix Inc (000660.KS), South Korean President Yoon Suk Yeol said on Thursday, a concern shared by the world's leading contract chipmaker in Taiwan, TSMC (2330.TW). "The U.S. side has sent relevant officials to Taiwan to listen to the industry's opinions, to collect their views," she added, without giving details. "Following on, if the industry needs the government to help communicate with the United States, the Economy Ministry will certainly assist with communication," Wang said.

☆ It's the U.S., not Europe's banking system that's a concern, top economists say
▼ + stars: | 2023-03-31 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

A central theme at the Ambrosetti Forum in Italy on Thursday and Friday was the potential for further instability in financial markets, arising from problems in the banking sector — particularly against a backdrop of tightening financial conditions. The move of 2018 was part of a broad rollback of banking rules put in place in the aftermath of the crisis. Although lauding the progress made in Europe, Papaconstantinou emphasized that it is too early to tell whether there is broader weakness in the banking system. It is not an environment where we can sit back and say, 'okay, this was just two blips, and we can continue as usual'. "We learnt the lessons of the financial crisis, there's been deep restructuring in this decade, and they are in a stronger position than in the past, obviously."

☆ Addressing food inflation is a top priority, Spanish minister says
▼ + stars: | 2023-03-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAddressing food inflation is a top priority because it's hurting families, Spanish minister saysNadia Calviño, Spain's economy minister, says core inflation has stabilized but the government is taking steps to address the pressures from food inflation through measures such as reducing VAT on some foodstuffs.

[1/4] A taxi waits for pedestrians at a street crossing under a pre-election billboard of candidate Jakov Milatovic in Podgorica, Montenegro, March 30, 2023. Montenegro, whose economy relies on tourism generated by its scenic mountains and seaside, ditched a state union with much larger Serbia in 2006 and declared independence. A row between lawmakers and Djukanovic over his refusal to name a new prime minister deepened the political paralysis. "I am here to lead Montenegro to success because for too long we have been led by the unsuccessful," Milatovic told a campaign rally. After the invasion of Ukraine last year, Montenegro signed up to EU sanctions against Russia.

☆ Spain inflation falls more than expected to 3.3% in March
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +1 min

March 30 (Reuters) - Spain's consumer price inflation slowed to 3.3% in March, its weakest annual rate since August 2021 and down from 6.0% in February, preliminary data from the National Statistics Institute showed on Thursday. Analysts polled by Reuters had expected a rate of 3.8%. This drop is mainly due to the fact that electricity and fuel prices increased in March 2022 and decreased this month, the statistics agency said. Core inflation, which strips out volatile fresh food and energy prices, was 7.5% year-on-year, slightly below the 7.6% recorded in February, the data showed. Spain's European Union-harmonised 12-month inflation was 3.1%, down from 6.0% in February and below the 4.0% expected by analysts polled by Reuters.

☆ Italy PM's party presents bill to split retail and investment banks
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +2 min

ROME, March 29 (Reuters) - Italian Prime Minister Giorgia Meloni's party has presented a bill in parliament to separate retail and investment banks - a move that, it approved, would force a radical overhaul of the country's banking sector. Allowing retail banks to engage in "speculative trading" is "dramatically negative for the real economy and undermines the most elementary principles of safeguard for the social and ethical foundation of the economy," the FdI bill states. The draft law, seen by Reuters on Wednesday, would give banks 12 months to reorganise their operations and choose between commercial and financial investment activities. In the United States, calls for similar banking reforms, with the reintroduction of the 1933 Glass-Steagall Act, have come from left-wingers within the Democratic Party, such as Senator Elizabeth Warren. Reporting by Giuseppe Fonte and Alvise Armellini, editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.

The fact that Charles had picked France and Germany for his first state visit, even before his coronation in May, was an important "European gesture", said German President Frank-Walter Steinmeier, who greeted Charles and his wife Queen Consort Camilla in Berlin. "Today, exactly six years after Britain started its exit from the European Union, we are opening a new chapter in our relations," Steinmeier said. [1/14] Britain's King Charles III and German President Frank-Walter Steinmeier review an honor guard during a ceremonial welcome at Brandenburg Gate in Berlin, on March 29, 2023. Steinmeier said he had invited Charles to visit Germany at Elizabeth's funeral last September. However, any warmer relations with Europe brought about by the visit could cool if other post-Brexit issues flare up.

☆ Taiwan welcomes large Czech delegation after Honduras shifts allegiance to China
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

The roughly 150-person Czech delegation arrived in Taipei on Saturday, led by the speaker of the lower chamber of the Czech parliament, Marketa Pekarova Adamova. "This visit of the delegation to Taiwan certainly represents that Taiwan is in a democratic alliance," she said. Pekarova Adamova, who is due to meet Taiwan President Tsai Ing-wen later on Monday, told the business forum that Taiwan was a crucial investment partner for her country. "Taiwan is not only an important economic partner but also a friendly and democratic partner and deserves our attention and support." Newly elected Czech president Petr Pavel drew a sharp rebuke from Beijing in January after taking a call from Tsai, a clear shift from his predecessor's attempts to win Chinese business.

BERLIN, March 24 (Reuters) - Germany's transport minister on Friday said he was optimistic a dispute between Berlin and Brussels over the future of combustion engine cars running on e-fuels was close to resolution, though some questions still needed clarifying. The original law would effectively ban registration of combustion engine cars after 2035, but Germany seeks an exemption for cars that run exclusively on climate-neutral e-fuel and legal assurances from the Commission. In a letter to the Commission seen by Reuters on Friday, Germany's transport ministry welcomed the EU executive's proposals but asked for legislation to ensure its implementation. Berlin's demand for an exemption had "now been answered by the EU Commission with a letter that makes me optimistic," German Transport Minister Volker Wissing told a news conference on Friday. The European Commission declined to comment on the latest proposals.

KINSHASA, March 24 (Reuters) - Democratic Republic of Congo's President Felix Tshisekedi has appointed the country's former vice president Jean-Pierre Bemba, who was detained for over 10 years for war crimes, as the country's defence minister in a sweeping government reshuffle. The reshuffle, which was more extensive than observers had predicted, came ahead of an expected presidential election on Dec. 20, in which Tshisekedi is likely to seek a second term. "This a deeply political shuffle," said Jason Stearns, Director of the Congo Research Group and Professor at Canada's Simon Fraser University. Tshisekedi appointed Vital Kamerhe, his former chief of staff who was released from prison in Dec. 2021 following as embezzlement conviction, as economy minister. Bemba, a former rebel leader was arrested in 2008 by the International Criminal Court for war crimes and crimes against humanity committed by his troops in the Central African Republic between 2002 and 2003.

[1/5] Milo Djukanovic, President of Montenegro and a candidate from the Democratic Party of Socialists, speaks to the media at a polling station during the presidential elections in Podgorica, Montenegro, March 19, 2023. REUTERS/Stevo VasiljevicPODGORICA, March 19 (Reuters) - Montenegro's veteran President Milo Djukanovic will face a run-off on April 2 against a pro-Western former economy minister, after no candidate secured a 50% majority in a first round election on Sunday, according to a vote projection. The Center for Monitoring and Research polling group (CEMI) projected Djukanovic would end up with the most votes, with 35.5%, based on results tabulated from a statistical sample of votes cast. Djukanovic has served as president or prime minister for 33 years. A victory in the presidential election would bolster the chances of his DPS party in the parliamentary vote.

[1/6] Milo Djukanovic, President of Montenegro and a candidate from the Democratic Party of Socialists, visits a polling station during the presidential elections in Podgorica, Montenegro, March 19, 2023. Milatovic described his result as a victory of "a beautiful, better, just ... and European Montenegro." Djukanovic has served as president or prime minister for 33 years. "We are content with this level of support, it is a good foundation ... that will carry us to the victory in the run-off," Djukanovic said. A victory in the run-off would bolster the chances of his DPS party in the parliamentary vote.

☆ Portugal's Delta Cafes founder Rui Nabeiro dies at 91
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +1 min

LISBON, March 19 (Reuters) - Rui Nabeiro, the founder of Portugal's largest roasted coffee retailer Delta Cafes and one of the country's top entrepreneurs, has died at the age of 91, the company said on Sunday. Nabeiro, who died in a hospital in Lisbon "due to breathing problems", founded Delta Cafes in his home town of Campo Maior, Alentejo, in 1961, starting with a small warehouse that roasted only 30 kilos of coffee per day. He always reinvested the profits in innovation to grow his family business and the Delta Cafe now roasts 100 tonnes daily. The company's sales, through both retail and foodservice channels, rose 12% to 460 million euros in 2022, with more than 25% exported to around 40 countries. Reporting by Sergio Goncalves; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

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