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☆ US Treasury's Adeyemo Sees More Actions Against Hamas in Coming Days, Weeks
▼ + stars: | 2023-11-09 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

"We're going to see actions taken by our allies and partners," Adeyemo said. Since the Palestinian militant group's deadly Oct. 7 attack on Israel, Washington has imposed two rounds of sanctions on Hamas. Nelson "pledged continued engagement with those who have taken proactive steps to investigate, identify, and disrupt Hamas-related activity," the Treasury said. Such transactions combining pools of assets or delaying transaction processing can hide the beneficial ownership of crypto assets, Adeyemo said. (Reporting by Andea Shalal in New York and Daphne Psaledakis in Washington; Writing by David Lawder, Editing by Howard Goller)

Persons: Andrea Shalal, Daphne Psaledakis NEW, Wally Adeyemo, Adeyemo, Brian Nelson, Nelson, doesn't, Andea Shalal, Daphne Psaledakis, David Lawder, Howard Goller Organizations: WASHINGTON, ., Reuters NEXT, Treasury, Terrorism, Financial Intelligence, FOCUS, USA Locations: Israel, Washington, Europe, New York

☆ Reuters NEXT Treasury's Adeyemo says 'far better' to see Russia buying tankers than tanks
▼ + stars: | 2023-11-09 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 9 (Reuters) - U.S. Deputy Secretary Wally Adeyemo on Thursday said the Group of Seven-led coalition that imposed a price cap on Russian oil last December was shifting its focus from reducing Russian revenues to raising Moscow's cost of shipping its oil. "From my standpoint, them buying these tankers and spending money on tankers was far better than spending money on tanks," he said. It also means that enforcing the price cap will have limited impact on Russian revenues. G7 countries and Australia imposed sanctions in December 2022 that prohibit shippers or insurers domiciled in member countries from offering services to facilitate Russian oil exports when the price is above $60 a barrel. He gave no further details on what steps could be taken to increase Russia's costs.

Persons: Wally Adeyemo, Adeyemo, Andrea Shalal, Deepa Babington Organizations: Reuters NEXT, Reuters, Thomson Locations: New York, Ukraine, Russia, refiners, China, India, Australia, Western

☆ Reuters NEXT White House's Bernstein upbeat on economy despite Mideast war, shutdown threat
▼ + stars: | 2023-11-08 | by ( Jeff Mason | Thomson Reuters | Jeff Mason Is A White House Correspondent For Reuters. He Has Covered The Presidencies Of Barack Obama | ) www.reuters.com time to read: +3 min

"On the headwind side, certainly being in a higher rate environment is something we have to be mindful of. Bernstein said the U.S. economy was outperforming virtually all its competitors and urged Congress to pass the necessary appropriations bills to keep the government running. We've got a very strong backdrop to a U.S. economy that's outperforming virtually all our competitors," he said. Asked about recent negative polls reflecting concern about President Joe Biden's handling of the economy, Bernstein said Americans had to reset their price expectations given an increase in their buying power. Bernstein said the Biden administration had taken a series of steps to ease prices while maintaining a strong labor market.

Persons: Jared Bernstein, Amanda Andrade, Rhoades, Washington, Bernstein, We've, Joe Biden's, Biden, Jeff Mason, Eric Beech, Andrea Shalal, Dan Burns, Richard Chang Organizations: of Economic Advisers, Banking, Housing, Urban Affairs, Capitol, REUTERS, U.S . Council, Economic, Reuters NEXT, Thomson Locations: Washington , U.S, Israel, Gaza, U.S, New York, joblessness

☆ Yellen supports 'significant' capital increase for IDB's private sector arm
▼ + stars: | 2023-11-03 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Yellen, who hosted a breakfast for leaders from the Americas Partnership for Economic Prosperity before a White House summit, said Treasury strongly supported efforts by IDB President Ilan Goldfajn to reform the regional development bank's private sector arm, IDB Invest, and backed a capital increase for it. "My team at Treasury is working closely with President (Ilan) Goldfajn and IDB Group shareholders to define the policy reforms and financial scenarios that would enable a significant capital increase for IDB Invest," she said. Yellen told an IDB conference on Thursday that additional capital would help increase IDB Invest's impact and ability to better mobilize private capital to the region, as APEP partners work to shift supply chains away from China and expand "nearshoring" options closer to home. Yellen also said on Thursday that the "originate-to-share" approach adopted by IDB Invest CEO James Scriven was pioneering a new way for multilateral development banks (MDBs) to leverage private sector capital, an innovation being closely watched by others. The move by IDB follows efforts by China to increase its influence in Latin America, through increased direct lending to Latin American governments and boosting trade ties to resource-rich South American countries.

Persons: Janet Yellen, Ilan Goldfajn, Ilan, Goldfajn, Yellen, James Scriven, Andrea Shalal, Christina Fincher, Paul Simao Organizations: . Treasury, Inter, American Development Bank, Americas, Economic Prosperity, Treasury, IDB Invest, IDB Group, IDB, Thomson Locations: United States, America, Caribbean, Washington, U.S, Latin America, China, Mexico

U.S. President Joe Biden holds an event about American retirement economics in the State Dining Room at the White House in Washington, U.S., October 31, 2023. Biden was speaking to about 200 people when the heckler shouted: "As a rabbi, I need you to call for a ceasefire right now." Biden responded: "I think we need a pause. The White House has previously said it supports a "humanitarian pause" to allow aid deliveries to Gaza and the release of hostages. Biden's heckler on Wednesday, who told reporters that her name was Rabbi Jessica Rosenberg, was escorted out by security while singing "ceasefire now."

Persons: Joe Biden, Leah Millis, Biden, heckler, Israel, Biden's heckler, Jessica Rosenberg, ”, Jarrett Renshaw, Andrea Shalal, Michael Perry Organizations: White, REUTERS, Rights, Hamas, Israel, Thomson Locations: Washington , U.S, Rights MINNEAPOLIS, Israel, Gaza

☆ Biden kicks off rural America tour in Minnesota
▼ + stars: | 2023-11-01 | by ( Andrea Shalal | ) www.reuters.com time to read: +5 min

[1/2] U.S. President Joe Biden holds an event about American retirement economics in the State Dining Room at the White House in Washington, U.S., October 31, 2023. Thirteen top administration officials will visit rural places in 15 states, including election battlegrounds like Michigan, Pennsylvania and Arizona, to highlight investments in rural communities, where one in five Americans live. A campaign official told Reuters that Biden would also participate in a fundraiser in Minneapolis after the farm visit. Biden beat former president Donald Trump in Minnesota by 52.4% to 45.3%, winning the state's 10 electoral college votes out of a total of 538 total. "President Biden believes that investing in America means investing in all of America and leaving no one behind," Neera Tanden, who heads the White House Domestic Policy Council, told reporters.

Persons: Joe Biden, Leah Millis, Biden, Dean Phillips, Donald Trump, Karine Jean, Pierre, Phillips, Jaylani Hussein, Tanden, Andrea Shalal, Jeff Mason, Andrew Hay, Stephen Coates Organizations: White, REUTERS, Rights, Reuters, Democratic, of American Islamic Relations, Muslim American, St Paul International Airport, Domestic Policy Council, Black, Republicans, Thomson Locations: Washington , U.S, Minnesota, Michigan, Pennsylvania, Arizona, Minneapolis, Gaza, Israel, America, North Carolina, Georgia, Wisconsin, Raleigh , North Carolina, Northfield, Puerto Rico

☆ Arab American support for Biden, Democrats plummets over Israel, poll shows
▼ + stars: | 2023-10-31 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

Arab American support for Biden, at 59% in 2020, fell even before the outbreak of violence in the Middle East to 35%, the poll commissioned by the Arab American Institute showed, but has halved since. THE TAKEThe poll is the latest evidence that Biden's campaign for a second term in office is rapidly losing Muslim and Arab Americans support over his staunch support of Israel. Only 20% of Arab Americans would rate Biden's job performance as "good," the poll showed, with 66% reporting a negative view of the president overall. The poll showed that 45% of Arab Americans were concerned about their personal safety due to the recent violence in Israel and Palestine. The poll was conducted by John Zogby Strategies of 500 Arab Americans with some answering online only.

Persons: Bonnie Cash, Joe Biden's, Donald Trump, Robert F, Kennedy Jr, Cornel, John Zogby, Andrea Shalal, Heather Timmons, Nick Zieminski Organizations: Palestine, REUTERS, Rights, Democratic, Biden, Arab American Institute, Republican, Cornel West, Thomson Locations: Gaza, Washington , U.S, Arab, Israel, Michigan , Ohio, Pennsylvania, United States, U.S, Palestine

In an open letter entitled "2023 Ceasefire Ultimatum," the Muslim leaders pledged to mobilize Muslim voters to "withhold endorsement, support, or votes for any candidate who endorses the Israeli offensive against the Palestinian people." Muslim Americans in Minnesota, where Biden plans to visit on Wednesday, last week issued a similar ceasefire ultimatum, with a noon Tuesday deadline. Although a self-described Zionist president, Biden has appointed more Arab Americans and Muslims to political posts than any predecessor, as well as the first two Muslim federal judges. Around 70% of Muslim Americans backed Biden in 2020, Hussein said. Ahmet Tekelioglu, executive director of CAIR in Philadelphia, said Muslim Americans in the state were calling for an immediate ceasefire but he was not aware of plans to set a deadline.

Persons: Joe Biden, Leah Millis, Joe Biden's, Biden, Keith Ellison, Andre Carson of, Benjamin Netanyahu, John Kirby, Rashida Tlaib, Jaylani Hussein, Hussein, Ahmet Tekelioglu, Andrea Shalal, Andrew Hay, Heather Timmons, Howard Goller Organizations: Artificial Intelligence, White, REUTERS, Rights, Democratic Party, National Muslim Democratic Council, Former U.S, Congress, Israel, Palestinian, Twitter, Sacramento Valley Council, Islamic Relations, CAIR, Thomson Locations: Washington , U.S, Gaza, Michigan, Ohio, Pennsylvania, Israel, Andre Carson of Indiana, Gaza . U.S, Minnesota, Palestine, Sacramento, Wisconsin , Ohio, Michigan , Ohio, Wisconsin, Philadelphia, Washington, New Mexico

Tensions between pro-Israel and pro-Palestinian groups have sprung up on some U.S. campuses, including several in New York, prompting university officials to tighten security. "There is no place for hate in America, and we condemn any antisemitic threat or incident in the strongest terms," White House spokesperson Karine Jean-Pierre told a regular briefing. The Jewish leaders included representatives of the campus Jewish organization Hillel, the Anti-Defamation League and the National Council of Jewish Women, the White House official said. Cardona and White House domestic policy adviser Neera Tanden will visit a university and meet with Jewish students later this week, the official said. Over the weekend, threats were posted online to Jewish students and the Center of Jewish Living at Cornell, according to the student newspaper and the campus Hillel group.

Persons: Karine Jean, Pierre, Biden, Kamala Harris's, Douglas Emhoff, Education Secretary Miguel Cardona, Deborah Lipstadt, Israel, Hillel, Cardona, Neera Tanden, Kathy Hochul, Hochul, Doina Chiacu, Andrea Shalal, Trevor Hunnicutt, Howard Goller Organizations: Columbia University, REUTERS, Rights, Biden, White, Israel, Cornell University, Defamation, Education Secretary, Department of Education's, Civil Rights, Defamation League, National Council of Jewish Women, White House, Islamic Relations, Center of Jewish, Cornell, Hillel, FBI, New, Jewish, Twitter, Thomson Locations: Gaza, New York City, U.S, New York, America, Israel

The other tier comprises mainstream vessels that use Western services for legal oil shipments, including from Russia under the terms of the price cap. In the short term, available ghost vessels could be in particular demand, making chartering them more expensive. Even so, some analysts say removing the price cap could be the way to really punish Russia. But he said that was very unlikely because the price cap at least allows Russian oil to flow, thereby moderating international prices. "The Biden administration is already reeling from higher oil prices compounded by the unrest in Gaza, potentially spreading to a wider Middle Eastern conflict.

Persons: Alexandre Meneghini, Ioannis Papadimitriou, Mike Salthouse, FGE, Vortexa’s Papadimitriou, Richard Bronze, Adi Imsirovic, Biden, Natalie Grover, Robert Harvey, Julia Payne, Andrea Shalal, Barbara Lewis Organizations: REUTERS, Reuters, Maersk, EU, White House, United Arab, Shell, BP, Exxon Mobil, Exxon, U.S, . Treasury, Treasury, Novy Port, Surrey Clean Energy, Thomson Locations: Liberia, Russia, Matanzas, Matanzas , Cuba, Ukraine, United States, Euronav, Turkey, United Arab Emirates, U.S, India, Novy, Gaza, London, Brussels, Washington

☆ Biden's Israel stance angers Arab, Muslim Americans; could jeopardize 2024 votes
▼ + stars: | 2023-10-24 | by ( Andrea Shalal | ) www.reuters.com time to read: +7 min

In hotly contested Michigan, Arab Americans account for 5% of the vote. In other battleground states Pennsylvania and Ohio, they are between 1.7% to 2%, said Jim Zogby, president of the Arab American Institute. Arab and Muslim Americans are unlikely to back Trump but could sit out the election and not vote for Biden, some activists said. Some Arab American and Muslim appointees are scared of backlash and reprisals and worried about family members in the region, said one White House official, who is Arab American. Secretary of State Antony Blinken acknowledged the personal difficulties some staff are facing in a Thursday letter, and met Monday with Palestinian and Arab American community leaders and Jewish American groups.

Persons: Bonnie Cash, Joe Biden's, Biden, Biden's, Donald Trump, Jim Zogby, Trump, Laila El, Haddad, Abdullah Hammoud, Linda Sarsour, Sa'ed Atshan, Barack Obama, Jeff Zients, Anita Dunn, Jake Sullivan, Jon, Antony Blinken, Josh Paul, Andrea Shalal, Kanishka Singh, Simon Lewis, Heather Timmons, Grant McCool Organizations: Palestine, REUTERS, Rights, Muslim, Republican, Arab American Institute, Michigan, Trump, United Nations, Arab American Association of New, Islamic Relations, Quaker Palestinian, Pennsylvania's Swarthmore College, White, Gaza, Muslim American, White House, Palestinian, Jewish, Political, Military Affairs, Thomson Locations: Gaza, Washington , U.S, Israel, Michigan, Pennsylvania, Ohio, Maryland, Canada, American, Dearborn , Michigan, U.S, Arab American Association of New York, Quaker Palestinian American, Arab American

☆ Biden's Israel stance angers Arab, Muslim-Americans; could jeopardize 2024 votes
▼ + stars: | 2023-10-24 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

[1/2] U.S. President Joe Biden has demonstrated unwavering support for Israel's security over a half century in public life. In other battleground states Pennsylvania and Ohio, they are between 1.7% to 2%, said Jim Zogby, president of the Arab American Institute. Arab and Muslim Americans are unlikely to back Trump but could sit out the election and not vote for Biden, some activists said. U.S. officials with family in the region are doubly stressed by the "ambassadorial" role they play as they field agitated messages from relatives and others angry at Biden's Israel strategy. Secretary of State Antony Blinken acknowledged the personal difficulties some staff are facing in a Thursday letter, and met Monday with Palestinian and Arab American community leaders and Jewish American groups.

Persons: Joe Biden, Biden, Benjamin Netanyahu, Joe Biden's, Biden's, Donald Trump, Jim Zogby, Trump, Laila El, Haddad, Abdullah Hammoud, Linda Sarsour, Sa'ed Atshan, Barack Obama, Jeff Zients, Anita Dunn, Jake Sullivan, Jon, Antony Blinken, Josh Paul, Andrea Shalal, Kanishka Singh, Simon Lewis, Heather Timmons, Grant McCool Organizations: Israeli, Hamas, Muslim, Republican, Arab American Institute, Michigan, Trump, Arab American Association of New, Islamic Relations, Quaker Palestinian, Pennsylvania's Swarthmore College, White, Muslim American, White House, Palestinian, Jewish, Political, Military Affairs, Thomson Locations: Israel, Tel Aviv, WASHINGTON, Gaza, Michigan, Pennsylvania, Ohio, Maryland, Dearborn , Michigan, U.S, Arab American Association of New York, American, Arab American

FILE PHOTO: An Apple logo is pictured outside an Apple store in Lille, France, September 13, 2023. REUTERS/Stephanie Lecocq/File Photo Acquire Licensing RightsWASHINGTON, Oct 24 (Reuters) - Apple (AAPL.O) on Tuesday will announce plans to make parts, tools and documentation needed to fix its iPhones and computers available to independent repair shops and consumers nationwide, the White House said. In recent years, Apple executives have begun touting the longevity and resale value of its devices while making it easier to fix them and to access spare parts. Apple started distributing parts and manuals to some independent repair shops in 2019. While Apple has provided spare parts to repair shops since 2019, the California bill also requires it to supply diagnostic tools to those shops as well.

Persons: Stephanie Lecocq, Apple, Joe Biden, Lael Brainard, Brainard, Nathan Proctor, Proctor, Andrea Shalal, Stephen Nellis, Lisa Shumaker Organizations: Apple, REUTERS, Rights, National Economic, Manufacturers, Thomson Locations: Lille, France, U.S, California, Colorado , New York, Minnesota, San Francisco

☆ White House says Iran 'actively facilitating' some attacks on US military bases
▼ + stars: | 2023-10-23 | by ( Steve Holland | ) www.reuters.com time to read: +2 min

Military vehicles of U.S. soldiers are seen at the al-Asad air base in Anbar province, Iraq, January 13, 2020. "We know that Iran is closely monitoring these events, and in some cases, actively facilitating these attacks and spurring on others who may want to exploit the conflict for their own good, or for that of Iran," he said. "We are deeply concerned about the potential for any significant escalation of these attacks in the days ahead," Kirby said. "We know Iran's goal is to maintain some level of deniability here, but we're not going to allow them to do that," Kirby said. "We also are not going to allow any threat to our interests in the region to go unchallenged."

Persons: Asad, John Davison, Biden, John Kirby, Kirby, we're, Steve Holland, Doina Chiacu, Andrea Shalal, Deepa Babington, Grant McCool Organizations: REUTERS, Rights, Department of Defense, Islamic Revolutionary Guard, Hamas, Thomson Locations: U.S, Anbar province, Iraq, Iran, Iranian, Syria, United States, Israel

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. U.S. President Joe Biden has demonstrated unwavering support for Israel's security over a half century in public life. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Read, Andrea Shalal, Kanishka Singh, Nick Zieminski, Lisa Shumaker Organizations: Sunday, Hamas, White, Israeli, Thomson Locations: REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Tel Aviv, Ukraine, Washington

☆ Biden Holds Call With Key Western Allies, Pope to Discuss Israel-Hamas War
▼ + stars: | 2023-10-22 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. Biden convened a virtual meeting of the G7 after Russia's invasion of Ukraine in February 2022. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. (Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa Shumaker)

Persons: Andrea Shalal, Kanishka Singh, Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Nick Zieminski, Lisa Shumaker Organizations: Reuters, Sunday, Hamas, White Locations: Kanishka Singh REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Ukraine, Washington

Michel suggested no deal was imminent when he told reporters the two sides needed to find "mutually beneficial" solutions. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, a third source told Reuters. Michel told reporters it was a critical time for the United States and the EU to "stick together" on their shared values and commitment to democracy given the Israel-Hamas conflict. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Ursula von der Leyen, Joe Biden, Charles Michel, Michel, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: WASHINGTON, European Union, Trump, Commission, U.S, European, . Trade, EU, Washington, World Trade Organization, United, Thomson Locations: BRUSSELS, United States, Israel, Gaza, Ukraine, Europe, North America, China, Brussels, U.S, Washington, Friday's

U.S. President Joe Biden attends a meeting with Israeli Prime Minister Benjamin Netanyahu (not pictured), as he visits Israel amid the ongoing conflict between Israel and Hamas, in Tel Aviv, Israel, October 18, 2023. Biden noted at the start of the meeting that the EU and the U.S. were standing together to support Israel and Ukraine, but would also discuss ways to address "unfairly traded steel and aluminum imports" and talks about critical minerals. Trade negotiators had scrambled on Thursday to avoid the U.S. resuming import tariffs on EU steel and aluminum imposed by then-President Donald Trump in 2018, ultimately agreeing to keep the tariffs at bay while they keep talking. "We look forward to continuing to make progress on these important objectives in the next two months," it said. The joint statement cited progress toward a "targeted" deal, and said the leaders looked forward to continuing negotiations in the coming weeks.

Persons: Joe Biden, Benjamin Netanyahu, Evelyn Hockstein, Washington, Charles Michel, Ursula von der Leyen, Biden, Michel, Donald Trump, Andrea Shalal, Jeff Mason, Jarrett Renshaw, Heather Timmons, Jonathan Oatis, Alistair Bell, Marguerita Choy Organizations: Israeli, Hamas, REUTERS, Rights, European Union, White, Senior U.S, European, European Commission, Ukraine, EU, ., Trade, United Steelworkers, Biden, Trump, Washington, World Trade Organization, U.S, Thomson Locations: Israel, Tel Aviv, U.S, Ukraine, China, Brussels, Washington, North America, Europe

U.S. President Joe Biden will host Michel and European Commission chief Ursula von der Leyen on Friday to show unity toward Ukraine, but with trade irritants souring ties. U.S. Trade Representative Katherine Tai met with European Commission Executive Vice President Valdis Dombrovskis on Thursday, and the two countries' trade negotiators were meeting around the clock. Michel told reporters it was a critical time for the United States and the EU to "stick together" on shared values and commitment to democracy, especially given the escalating crisis in the Middle East, which threatens to overshadow the long-planned summit. It is still to be seen if this will end the U.S. tariffs threat or just see an extended suspension. Given the EU needs such materials itself for its green transition, the positive impact for the bloc may be limited.

Persons: Charles Michel, Joe Biden, Michel, Ursula von der Leyen, von der Leyen, Katherine Tai, Valdis Dombrovskis, Donald Trump, Bernd Lange, Philip Blenkinsop, Alexandra Hudson, Jonathan Oatis Organizations: European Union, EU, European Commission, Trump, . Trade, European, Washington, World Trade Organization, United, U.S, Thomson Locations: BRUSSELS, WASHINGTON, United States, Ukraine, China, Brussels, U.S, Washington, North America

The Group of 20 major economies did reach consensus on an official communique but omitted any mention of the Israel-Hamas war. Senior World Bank Group officials were more pointed in a statement to staff, saying they were "shocked and appalled by the unprecedented escalation of violence in Israel and Gaza." "We condemn terrorism in all forms, including the abhorrent targeting of innocent civilians and kidnapping," the leaders of the World Bank, the International Finance Corp and the Multilateral Investment Guarantee Agency, said in an internal statement seen by Reuters. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two." Reporting by Andrea Shalal and David Lawder; Editing by Giles Elgood and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood, Stephen Coates Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, U.S, Treasury, Bank Group, International Finance Corp, Multilateral Investment Guarantee Agency, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Africa

IMF Managing Director Kristalina Georgieva did not mention the new conflict at opening events. The inability to respond extended to chair's statements issued by the Group of 20 major economies and the IMF and World Bank steering committees, which failed to mention the conflict. "You know, without peace, it's hard for people to get stability, growth, look after their children, get jobs," he said. But conflicts remain the biggest challenge to the global economy, said Josh Lipsky, a former IMF official who directs the Atlantic Council's GeoEconomics Center. "Geopolitical shocks are economic shocks now and economic shocks are geopolitical shocks - and they're trying to detach the two."

Persons: Kristalina Georgieva, that's, Rachel Nadelman, Joe Biden, China's Xi, Ajay Banga, Josh Lipsky, Andrea Shalal, David Lawder, Giles Elgood Organizations: Global, International Monetary Fund, World Bank, IMF, West Bank, Reuters, Research Center, Group, GeoEconomics, Thomson Locations: MARRAKECH, Morocco, Israel, Gaza, Lebanon, Ukraine, United States, China, Bali, Africa

☆ Yellen Says U.S. Will Fight to Ensure Robust Economic Aid for Ukraine
▼ + stars: | 2023-10-16 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +4 min

She said the Biden administration was committed to supporting Ukraine "for as long as it takes" and would fight to ensure a bipartisan majority in the U.S. Congress enacted "robust" and uninterrupted assistance for the war-torn country. Ukrainian Finance Minister Serhiy Marchenko told Reuters on Saturday that Ukraine is finding it harder to secure financial support. Yellen lauded the European Union's plans for a 50 billion euro Ukraine Facility to provide sustained economic and reconstruction support, saying that economic support should have maximum concessionality, meaning low or zero interest rates. WINDFALL PROCEEDS TO AID UKRAINETo ensure additional sources of revenue, Yellen reiterated that she supported "harnessing windfall proceeds from Russian sovereign assets immobilized in particular clearing houses and using the funds to support Ukraine." U.S.-EU collaboration was also crucial regarding economic ties with China, Yellen said, including targeted actions to safeguard national security interests such as restrictions on certain outbound investments in sensitive technologies.

Persons: Andrea Shalal LUXEMBOURG, Janet Yellen, Biden, Yellen, Jim Jordan, Donald Trump, Brussels's, Serhiy Marchenko, Andrea Shalal, Christina Fincher Organizations: . Treasury, Ukraine, U.S, Congress, Hamas, Sky News, Kyiv, Ohio, Republican, EU, Ukrainian, Reuters, UKRAINE Locations: United States, Europe, Ukraine, Israel, Gaza, America, Hungary, U.S, Russia, China, Washington

☆ Key takeaways from the IMF/World Bank meetings
▼ + stars: | 2023-10-14 | by ( ) www.reuters.com time to read: +5 min

Global inflation is seen dropping from 6.9% this year to a still-high 5.8% next. Italian central bank governor Ignazio Visco said there was an impression markets were "reevaluating the term premium" as investors become more nervous about holding longer term debt. One debt restructuring deal emerged: Zambia finally agreed a debt rework memorandum of understanding with creditors including China and France. Sri Lanka said on Thursday it reached an agreement with the Export-Import Bank of China covering about $4.2 billion of debt, while talks with other official creditors are stalling. There was much talk ahead of Marrakech on revamping the IMF and World Bank to better reflect the emergence of economies like China and Brazil.

Persons: Ajay Banga, Mercy Tembon, Finance Serhiy Marchenko, Ceda Ogada, Kristalina Georgieva, Pierre, Olivier Gourinchas, Ignazio Visco, Joyce Chang, Vitor Gaspar, Mehmet Simsek, Murat Ulgen, Kate Donald, Ahmed El Jechtimi, Andrea Shalal, David Lawder, Leika Kihara, Elisa Martinuzzi, Rachel Savage, Jorgelina, Rosario, Balazs Koranyi, Mark John, Christina Fincher Organizations: Bank, Finance, International Monetary Fund, Emerging, Research, HSBC, Reuters, Export, Import Bank of, World Bank, Oxfam International's Washington DC Office, Thomson Locations: Ukraine, MARRAKECH, Morocco, Moroccan, Marrakech, Israel, Central, United States, China, Italy, Italian, Turkey, Kenya, Zambia, France, Sri Lanka, Import Bank of China, Brazil, U.S

China, whose economy is now three times the size it was in 2010, continued to push for more IMF shares. IMFC members agreed to add a third IMF Executive Board chair to represent African countries, a key sweetener for the U.S. "equi-proportional quota plan. Pan said China supported this move but it was a separate issue from the shareholding formula. It also called for the IMF's Executive Board to propose options for changes to the shareholding formula by June 2025. This would accelerate the next five-year review of quotas and meet IMF Managing Director Kristalina Georgieva's call for a deadline on adjusting its shareholding to preserve its credibility.

Persons: Nadia Calvino, Kristalina Georgieva, Pan Gongsheng, Pan, Kristalina, Georgieva, David Lawder, Andrea Shalal, Sharon Singleton, Christina Fincher, Franklin Paul, Diane Craft Organizations: Monetary, Financial, International Monetary Fund, World Bank, Monetary Fund, IMF, Fund, The U.S . Treasury, People's Bank of China, Beijing, IMF's, U.S . Treasury, United Arab, Thomson Locations: Marrakech, Morocco, MARRAKECH, U.S, China, CHINA, The U.S, India, Ukraine, Israel, Gaza, United Arab Emirates

Janet Yellen, United States Secretary of Treasury, participates in global infrastructure and investment forum in New York, Thursday, Sept. 21, 2023. Seth Wenig/Pool via REUTERS/File Photo Acquire Licensing RightsMARRAKECH, Morocco, Oct 13 (Reuters) - U.S. Treasury Secretary Janet Yellen told Reuters on Friday that she still believes U.S. shelter inflation will continue to ease despite new consumer price data on Thursday showing a jump in housing costs, but the process may take some time. "We do definitely believe that's coming down over time," Yellen said in an interview on the sidelines of the International Monetary Fund and World Bank meetings in Morocco. Yellen has long said that housing costs, will ease over time, helping to bring down core inflation, and said Thursday's CPI report has not deterred her from that view. "I think we have very good reason to believe, with lags, that will come down, and I don't think there's anything in the report that would cause us to think that's a mistake in judgment," Yellen said.

Persons: Janet Yellen, Seth Wenig, Yellen, David Lawder, Andrea Ricci, Marguerita Choy Organizations: Treasury, Rights, . Treasury, Reuters, International Monetary Fund, World Bank, Federal Reserve, CPI, Thomson Locations: United States, New York, Rights MARRAKECH, Morocco

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