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☆ China's Xi Makes First Known Visit to Central Bank -Sources
▼ + stars: | 2023-10-24 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Chinese President Xi Jinping made his first known visit to the nation's central bank since he became president a decade ago, two sources with knowledge of the matter said, as China's economy and financial markets grapple with headwinds. Xi, along with Vice Premier He Lifeng and other government officials, visited the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) in Beijing on Tuesday, the sources told Reuters. The purpose of the visit was not immediately known. The PBOC and SAFE could not be immediately reached for comment outside of business hours. Capital outflows from China rose sharply to $75 billion in September, the biggest monthly figure since 2016, Goldman Sachs' preferred gauge of foreign exchange flows showed, underscoring intensifying depreciation pressure on the yuan.

Persons: Xi Jinping, Goldman Sachs Organizations: People's Bank of China, State Administration of Foreign Exchange, Reuters, Capital Locations: BEIJING, Beijing, Capital outflows, China

☆ China's Xi makes first known visit to central bank -sources
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +1 min

Chinese President Xi Jinping speaks at the opening ceremony of the Belt and Road Forum (BRF) to mark the 10th anniversary of the Belt and Road Initiative at the Great Hall of the People in Beijing, October 18, 2023. REUTERS/Edgar Su/File Photo/File Photo Acquire Licensing RightsBEIJING, Oct 24 (Reuters) - Chinese President Xi Jinping made his first known visit to the nation's central bank since he became president a decade ago, two sources with knowledge of the matter said, as China's economy and financial markets grapple with headwinds. Xi, along with Vice Premier He Lifeng and other government officials, visited the People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) in Beijing on Tuesday, the sources told Reuters. The purpose of the visit was not immediately known. The PBOC and SAFE could not be immediately reached for comment outside of business hours.

Persons: Xi Jinping, Edgar Su, Goldman Sachs Organizations: Initiative, of, People, REUTERS, Rights, People's Bank of China, State Administration of Foreign Exchange, Reuters, Capital, Thomson Locations: Beijing, Rights BEIJING, Capital outflows, China

☆ China set to approve $137 bln in extra sovereign debt on Tuesday -sources
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. REUTERS/Florence Lo/Illustration/File Photo Acquire Licensing RightsOct 23 (Reuters) - China is set to approve slightly more than 1 trillion yuan ($137 billion) in additional sovereign debt issuance on Tuesday as Beijing steps up its efforts to spur infrastructure spending and encourage economic growth, three sources told Reuters. China's top legislators, the standing committee of the National People's Congress (NPC), are set to approve the extra debt issuance on the last day of a meeting which has run from Oct. 20 to Oct. 24, said the sources, who declined to be named due to confidentiality constraints. But its ability to spur growth has been hamstrung by fears over debt risks and a fragile yuan. ($1 = 7.3171 Chinese yuan renminbi)Reporting by Reuters staff; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.

Persons: Florence Lo, Typhoon Doksuri, Alexander Smith Organizations: REUTERS, Reuters, National People's Congress, Information Office, NPC, Ministry of Finance, Thomson Locations: China, Beijing, Hebei, China's

☆ China to bolster economic recovery and curb risks, central bank head says
▼ + stars: | 2023-10-21 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

SHANGHAI/BEIJING (Reuters) - China will promote a sustained economic recovery, focusing on expanding domestic demand, while fending off financial risks, People’s Bank of China Governor Pan Gongsheng said in a report published on Saturday. FILE PHOTO: A woman walks past the headquarters of the People's Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. The report is significant because it is the first time the governor has commented on policy after the publication of third-quarter economic data. It will also guide financial institutions to help resolve local government debt risks, including debt risks of local government financing vehicles, he said. Pan also said in the report China would resolve the default risk of bonds of big real estate enterprises, preventing risk contagion in stock, bond and foreign exchange markets, and ensuring the stable operation of financial markets.

Persons: Pan Gongsheng, Jason Lee, Pan Organizations: People’s Bank of China, People's Bank of China, REUTERS Locations: SHANGHAI, BEIJING, China, Beijing

☆ China, world's top graphite producer, to curb exports of key battery material
▼ + stars: | 2023-10-20 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: Trucks travel past containers at the Yangshan Deep Water Port in Shanghai, China January 13, 2022. It also refines more than 90% of the world’s graphite into material used in virtually all EV battery anodes. China is enacting the curbs at the same time that foreign governments are increasing their pressure on its companies over their industrial practices. Under the new restrictions announced on Friday, China will require exporters of two types graphite to apply for permits, including high-purity, high-hardness and high intensity synthetic graphite material, and natural flake graphite and its products. Top buyers of graphite from China include Japan, India and South Korea, according to Chinese customs data.

Persons: Aly Organizations: REUTERS, . Geological Survey, EV, European, Nvidia Locations: BEIJING, China, Port, Shanghai, U.S, United States, Europe, Japan, India, South Korea

☆ U.S. 10-year Treasury yields hits 5% for first time since 2007
▼ + stars: | 2023-10-19 | by ( Reuters Staff | ) www.reuters.com time to read: +4 min

LONDON (Reuters) - The U.S. 10-year Treasury yield briefly reached 5% for the first time since 2007, marking a fresh milestone in a relentless push higher for government borrowing costs. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermidFurther signs of resilience in the U.S. economy help explain the latest sell off in Treasuries, as traders have unwound bets the U.S. Federal Reserve would soon start to lower interest rates. He highlighted what everyone has seen with the strong economic growth data and the retail sales figure that came out. Just like how the market forced the Fed to stop quantitative tightening in 2019, it might be forcing the Fed to rethink QT today.

Persons: Brendan McDermid, Jerome Powell, MICHAEL SCHULMAN, EL, ”, NOAH, ” BRIAN JACOBSEN, MENOMONEE, QUINCY KROSBY, Powell Organizations: Treasury, New York Stock Exchange, REUTERS, U.S . Federal, Fed, NORTH Locations: New York City, U.S, Treasuries, EL SEGUNDO, CALIFORNIA, CHARLOTTE, NC, WISCONSIN, NORTH CAROLINA, Ukraine, Russia

☆ Scientists test Fukushima fish after nuclear plant water release
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Eugene Hoshiko/Pool via REUTERS Acquire Licensing RightsIWAKI, Japan, Oct 19 (Reuters) - A team of international scientists collected fish samples from a port town near Japan's crippled Fukushima nuclear plant on Thursday, seeking to assess the impact of the plant's recent release of treated radioactive water into the sea. Scientists from China, South Korea and Canada observed the collection of fish samples delivered fresh off the boat at Hisanohama port, about 50 kilometres south of the plant which was destroyed in the 2011 earthquake and tsunami. The samples will be sent to laboratories in each country for independent testing, the International Atomic Energy Agency (IAEA) said. Before being released, the water is filtered to remove isotopes, leaving only tritium, a radioactive isotope of hydrogen that is hard to separate, plant operator Tepco says. Reporting by Reuters staff; Writing by John Geddie; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Eugene Hoshiko, Paul McGinnity, John Geddie, Bernadette Baum Organizations: International Atomic Energy Agency, REUTERS Acquire, Rights, IAEA, Tepco, Reuters, Thomson Locations: Hisanohama Port, Iwaki, Japan, Rights IWAKI, Japan's, China, South Korea, Canada

☆ Exclusive: Star Chinese fund manager Wang detained and under investigation - sources
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

Oct 13 (Reuters) - Wang Yawei, a star fund manager in China, has been detained by authorities since August and is under investigation, according to three sources with knowledge of the matter. The 52-year-old founder of Qianhe Capital Management in Shenzhen and Top Ace Asset Management in Hong Kong is the latest high-profile Chinese business executive to be investigated or detained. His case relates to an investigation into Zhu Congjiu, a former senior official at China's top securities regulator, the sources said. Before setting up his own shop, Wang spent 14 years at China Asset Management Co (AMC), one of the country's largest mutual fund houses, as its vice-president and chief investment officer. Zhu is one of several former China Securities Regulatory Commission (CSRC) officials to come under scrutiny in recent years.

Persons: Wang Yawei, Zhu Congjiu, Wang, Zhu, Xi, Sumeet Chatterjee, Edwina Gibbs Organizations: Qianhe Capital Management, Asset Management, Communist, Central Commission, Ministry of Public Security, Qianhe, China Asset Management Co, AMC, China Securities Regulatory Commission, Shanghai bourse, Reuters, Thomson Locations: China, Shenzhen, Hong Kong, Zhejiang province

☆ Women, children among 29 killed as artillery hits Myanmar refugee camp - media, sources
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

Kachin media outlets said 30 people were killed and blamed the artillery strike on the military. Kachin media shared a series of graphic images on Facebook of destruction, which could not immediately be verified by Reuters. Others showed men in military attire sifting through wreckage and a man carrying the body of a small child. The incident was the deadliest since an air strike in Myanmar's volatile Sagaing region in April that killed scores of people including civilians. It sits close to the Chinese border and is home to many civilians living in displacement camps in and around the town.

Persons: Kyaw Zaw, Martin Petty, Michael Perry Organizations: Kachin Independence Army, Reuters, Nations, National Unity Government, Kachin, Network Civil, Reuters Staff, Thomson Locations: China, Myanmar, Myanmar's, Kachin State, Kachin, Sagaing, Khon

☆ Middle East violence rattles markets, oil jumps
▼ + stars: | 2023-10-09 | by ( Reuters Staff | ) www.reuters.com time to read: +5 min

MARKET REACTION:- Oil prices surged, with Brent crude trading at $87.25 a barrel - up over 3% on the day. COMMENTS:MOHIT KUMAR, CHIEF EUROPE ECONOMIST, JEFFERIES, LONDON:“The coming days are likely to be driven by geopolitical risks, rather than fundamentals. “Second, OPEC countries do have spare capacity that they restrict willingly to maintain oil price at above $80 (per barrel), but they don’t necessarily think of tripling oil prices – which would only accelerate the energy transition. “This being said, potential retaliation against Tehran is a serious upside risk for oil prices. We will keep an eye on developments, but don’t speculate on a full-blast rise in oil prices for now.”

Persons: Mohammed Salem, Israel’s shekel, MOHIT KUMAR, JEFFERIES, ”, ” CHRIS BEAUCHAMP, Brent, WTI, CAROL KONG, JPY, ” MICHAEL HEWSON, ALVIN TAN, Blinken, “, ” IPEK OZKARDESKAYA, Israel Organizations: Oil, REUTERS, Brent, U.S, Treasury, British Airways, LONDON, Russo, COMMONWEALTH BANK OF, CMC, U.S ., OF, OF ASIA FX, RBS, SWISSQUOTE BANK Locations: Israel, Gaza, Egypt, Yom, EUROPE, Iran, Ukrainian, SYDNEY, Asia, Japan, Straits, Hormuz, OF ASIA, ” “, GENEVA, OPEC, U.S, Tehran

☆ Myanmar Supreme Court rejects jailed Suu Kyi appeals
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsOct 8 (Reuters) - The Supreme Court in military-ruled Myanmar has rejected appeals against six corruption convictions for the jailed former leader Aung San Suu Kyi, according to media reports. Suu Kyi, in detention since the military toppled her government in a 2021 coup, faces 27 years in prison. Myanmar has been in turmoil since the coup and the junta's crackdown on opponents, with thousands jailed or killed. Many governments have called for the unconditional release of Suu Kyi and thousands of other political prisoners in the Southeast Asian country. The court in August rejected five appeals by Suu Kyi on illegally importing and possessing walkie-talkies, sedition and violating coronavirus restrictions.

Persons: Aung, Issei Kato, Aung San, Suu Kyi, William Mallard Organizations: Embassy, REUTERS, Reuters, Thomson Locations: Myanmar, Japan, Tokyo, Aung San Suu

☆ Myanmar Supreme Court Rejects Jailed Suu Kyi Appeals
▼ + stars: | 2023-10-07 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The Supreme Court in military-ruled Myanmar has rejected appeals against six corruption convictions for the jailed former leader Aung San Suu Kyi, according to media reports. Suu Kyi, in detention since the military toppled her government in a 2021 coup, faces 27 years in prison. Myanmar has been in turmoil since the coup and the junta's crackdown on opponents, with thousands jailed or killed. Many governments have called for the unconditional release of Suu Kyi and thousands of other political prisoners in the Southeast Asian country. The court in August rejected five appeals by Suu Kyi on illegally importing and possessing walkie-talkies, sedition and violating coronavirus restrictions.

Persons: Aung San, Suu Kyi, William Mallard Organizations: Reuters Locations: Myanmar, Aung San Suu

☆ Eli Lilly appoints new obesity unit head ahead of key Mounjaro decision
▼ + stars: | 2023-10-04 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

(Reuters) -Eli Lilly and Co on Wednesday appointed a new chief for its diabetes and obesity unit in a string of leadership changes ahead of a key regulatory decision on the use of its potential blockbuster drug Mounjaro as a weight-loss treatment. Slideshow ( 2 images )Mounjaro, chemically known as tirzepatide, is already being prescribed by doctors off-label as an obesity treatment. In his new role, Jonsson will oversee Lilly’s launched products and late-stage development of diabetes and obesity treatments, including tirzepatide and other candidates such as its next-generation obesity drug retatrutide and obesity pill orforglipron. Mason, who has also spent more than three decades with Lilly, oversaw the late-stage development and the launch of Mounjaro. The diabetes drug, which clocked in sales of $979.7 million in the latest quarter, belongs to a class of drugs known as GLP-1s that stimulate insulin production.

Persons: Eli Lilly, Patrik Jonsson, Lilly USA, Mike Mason, Jonsson, Lilly’s, Mason, Lilly, Daniel Skovronsky Organizations: Reuters Locations: Sweden, Scandinavia, Italy, Japan, Jonsson

☆ Top U.S. leaders and their unexplored family connections to slavery
▼ + stars: | 2023-10-04 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

At a time of renewed debate over slavery and its legacy, many of today’s U.S. leaders have staked key positions on policies related to race. Reuters sought to determine how many of those political elites descend from slaveholders, and what it means for them to learn – in personal, specific and sometimes graphic ways – the facts behind their own family’s part in slavery.

Organizations: today’s, Reuters Locations: today’s U.S

☆ Criminal trial of US Senator Bob Menendez set for May 6
▼ + stars: | 2023-10-02 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Senator Bob Menendez’s trial on corruption charges will begin in May, a federal judge in New York said on Monday. The Democratic senator for New Jersey has pleaded not guilty and resisted calls for his resignation following his indictment last month on charges of taking bribes from three New Jersey businessmen. The senator’s wife and businessmen Jose Uribe, 56, Fred Daibes, 66, and Wael Hana, 40, have also pleaded not guilty. The probe marks the third time Menendez has been under investigation by federal prosecutors. Menendez, one of two senators representing New Jersey, stepped down from his role as chairman of the Senate Foreign Relations Committee, as required under his party’s rules.

Persons: Bob Menendez’s, Sidney Stein, Menendez, Jose Uribe, Fred Daibes, Wael Hana, Hana Organizations: Democratic, Prosecutors, Senate Foreign Relations Locations: WASHINGTON, New York, New Jersey, Jersey, U.S, Manhattan

☆ China's lottery ticket sales soar amid weak economy, job prospects
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

BEIJING (Reuters) - China’s lottery ticket sales in August soared to their highest for any month so far this year, amid public concern about the economy following months of mostly gloomy data including youth unemployment. The surging lottery ticket sales coincided with months of mostly soft economic data, with the unemployment rate of job seekers aged between 16 and 24 drawing particular attention from policymakers. China’s youth unemployment rate hit a record high of 21.3% in June, according to official data. Some social media commentators have linked the sharp rise in lottery sales in recent months to young people’s deepening economic worries. Earlier this year, China’s social media was alit with videos of jobless university graduates visiting temples to seek the blessings of the gods.

Persons: Ann Wang, “ Young, ” Organizations: REUTERS, Xinhua Locations: BEIJING, Hualien, Taiwan, Weibo

☆ Walmart changes pay and titles for corporate staff- WSJ
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

REUTERS/Kamil Krzaczynski/File Photo(Reuters) -Walmart corporate staff are getting new titles and pay packages in the coming weeks to manage labor costs and simplify the structure of the company’s workforce, the Wall Street Journal reported on Saturday. Starting in November, many corporate workers at Walmart and Sam’s Club, its warehouse chain, will be reclassified into fewer groups of possible titles and pay. Base pay and total bonus benefits won’t fall for any workers. Around 4%, or 2,000, will receive an eventual reduction in stock-option awards as part of the change, the report added. Earlier this month, Walmart changed the hourly starting wage structure for entry-level store workers.

Persons: Kamil Krzaczynski, Kim Lupo Organizations: REUTERS, Walmart, Wall Street, Sam’s, Base Locations: Chicago , Illinois, U.S

☆ Detroit casino workers approve strike authorization at three casinos
▼ + stars: | 2023-09-30 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

The Detroit skyline is seen from the north side of the city in Detroit, Michigan, December 3, 2013. REUTERS/Joshua Lott/File Photo(Reuters) - Workers at three Detroit casinos have voted in favor of authorizing a strike, if necessary, the United Auto Workers (UAW) union said on Saturday. The union said the Detroit Casino Council (DCC), representing workers at the MGM Grand Detroit, Hollywood at Greektown and MotorCity casinos, said workers voted 99% “yes” on Friday to authorize a strike at all three locations if a new contract agreement isn’t reached. The Detroit Casino Council is made up of 5 unions representing casino employees, including UNITE HERE Local 24, UAW, Teamsters Local 1038, Operating Engineers Local 324, and the Michigan Regional Council of Carpenters. About 18,300 UAW members working at the Detroit Three automakers - Ford, General Motors and Chrysler parent Stellantis, are already on strike.

Persons: Joshua Lott, isn’t Organizations: REUTERS, Workers, United Auto Workers, UAW, Detroit Casino Council, MGM, Detroit, Detroit Casino, Teamsters, Engineers, Michigan Regional, of Carpenters, Detroit Three, Ford, General Motors, Chrysler, GM Locations: Detroit, Detroit , Michigan, Hollywood, Greektown

☆ Trump ally Scott Hall agrees to plea deal in Georgia elections case
▼ + stars: | 2023-09-29 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

Fulton County Sheriff's Office/Handout via REUTERS/File PhotoWASHINGTON (Reuters) - Donald Trump ally and former Republican poll watcher Scott Hall on Friday pleaded guilty to conspiring to interfere with Georgia’s elections as part of the former U.S. president’s attempts to overturn his 2020 defeat. Hall so far is the only one of 19 defendants, including Trump, to plead guilty in Fulton County, Georgia’s conspiracy case, one of four criminal prosecutions that have ensnared the frontrunner for the Republican 2024 nomination. A live video of a court proceeding showed Hall pleaded guilty to five counts of conspiracy to commit intentional interference with the performance of election duties, a misdemeanor charge. Trump has denied wrongdoing and said the case is part of a political witch hunt. Trump has denied wrongdoing and pleaded not guilty in those cases as well.

Persons: Scott, mugshot, Donald Trump, Scott Hall, president’s, Trump Organizations: Sheriff's, U.S, Fulton County Sheriff's, REUTERS, WASHINGTON, Republican, Trump, Hall Locations: Fulton, Atlanta , Georgia, U.S, Fulton County, Florida, Washington, New York

☆ Global bond funds register big outflows on rate worries
▼ + stars: | 2023-09-29 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

According to LSEG data, global bond funds suffered disposals of $3.25 billion on a net basis, compared with $2.29 billion worth of net purchases in the week before. High-yield bond funds booked $3.11 billion of net selling during the week, the biggest outflow in six months. Investors also shed $300 million worth of corporate bond funds while pouring about $2.35 million into government bond funds. Data showed global equity funds experienced a net $10.7 billion worth of outflow, the biggest in a week since Aug. 23. Data for emerging markets comprising 28,251 funds showed that equity funds’ outflows stood at $3.7 billion, the highest since June 7.

Persons: Brendan McDermid, outflows, ’ outflows Organizations: Reuters, New York Stock Exchange, REUTERS, U.S . Federal Reserve, European Central Bank, Bank of England, Investors, ’ Locations: New York City, U.S, outflows, outgo

☆ Futures extend gains after August PCE data
▼ + stars: | 2023-09-29 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO:Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo(Reuters) - U.S. stock index futures extended gains on Friday after data showed a closely-watched measure of inflation was softer-than-expected, keeping alive hopes of a pause in interest rate hikes from the Federal Reserve. A Commerce Department report showed the personal consumption expenditures (PCE) price index, considered to be the Fed’s preferred inflation gauge, climbed 0.4% in August, against estimates of a 0.5% rise. Excluding volatile food and energy components, the core PCE price index rose 0.1% in August, compared with estimates of 0.2% advance. ET, Dow e-minis were up 181 points, or 0.53%, S&P 500 e-minis were up 27 points, or 0.62%, and Nasdaq 100 e-minis were up 129.25 points, or 0.87%.

Persons: Brendan McDermid Organizations: New York Stock Exchange, REUTERS, Federal Reserve, Commerce Department, Dow e, Nasdaq Locations: New York City, U.S

☆ United Steelworkers union chief Tom Conway dies at 71
▼ + stars: | 2023-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

(Reuters) -Thomas Conway, international president of the United Steelworkers (USW) union that represents 850,000 North American steel, paper, health, education and oil workers, has died at the age of 71, the USW said on Monday. Slideshow ( 2 images )Conway joined the union in 1978 at a Bethlehem Steel plant in northwestern Indiana and became its top negotiator and later president in 2019. “Any company that had gone up against Tom in negotiations knew they would not get away with any B.S.,” said Wright. In 2017, he told a union convention that workers must be prepared to act on their demands. But when the fights do come, we can win those fights,” Conway said.

Persons: Thomas Conway, Conway, Michael Wright, “, Tom, ”, Wright, ” Conway, Jess Kamm Broomell, “ Tom, David McCall Organizations: Reuters, United Steelworkers, Bethlehem Steel, U.S . Air Force, ”, Cleveland Cliffs, U.S . Steel, Steel Locations: American, Indiana, Ohio, Pittsburgh

☆ Ukraine faces unfavourable weather conditions for winter sowing - forecasters
▼ + stars: | 2023-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: Smoke rises in the sky after shelling near a winter wheat field, amid Russia's attack on Ukraine, near the town of Bakhmut, in Donetsk region, Ukraine June 18, 2022. REUTERS/Gleb Garanich/File photoKYIV (Reuters) - The prolonged absence of rain in most Ukrainian regions have created unfavourable conditions for sowing and development of winter crops, analyst APK-Inform on Monday quoted Ukraine’s state weather forecasters as saying. Ukraine is a traditional grower of winter wheat which accounts for around 95% of the overall wheat output. “The conditions for soil moisture accumulation remained extremely unfavourable,” forecasters said in a report. Ukraine harvested 22.2 million tonnes of wheat in 2023.

Persons: Gleb Garanich Organizations: REUTERS Locations: Ukraine, Bakhmut, Donetsk region

☆ Australia's Star Entertainment to raise $481 million in equity
▼ + stars: | 2023-09-25 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

(Reuters) - Australia’s Star Entertainment Group said on Monday it was raising A$750 million ($481.43 million) via equity placement under its broader refinancing process to improve its funding arrangements and capital structure. ($1 = 1.5579 Australian dollars)

Organizations: Reuters, Australia’s Star Entertainment

Finance Minister Anton Siluanov said Russia would return to following its budget rule in 2024, envisaging an oil price of $60 per barrel. The government was discussing budget plans for the next three years. Bloomberg News reported that Russia is also planning a huge hike in defence spending next year, swelling to 6% of GDP from 3.9% in 2023 and 2.7% in 2021. Siluanov said Russia planned to raise domestic borrowing to more than 4 trillion roubles annually to fund its deficits. Siluanov said Russia's NWF would hold 6.7 trillion roubles by end-2024, down from 13.7 trillion roubles, or 9.1% of GDP as of Sept. 1.

Persons: Vladimir Putin, Denis Manturov, Alexei Krivoruchko, Mikhail Metzel, Mikhail Mishustin, Mishustin, Anton Siluanov, Siluanov, Russia's, Vladimir Soldatkin, Darya Korsunskaya, Alexander Marrow, Mark Trevelyan Organizations: Sputnik, REUTERS Acquire, Finance, National Wealth Fund, Bloomberg News, Reuters, Thomson Locations: Izhevsk, Russia, Ukraine MOSCOW, Moscow, Ukraine

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