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☆ Tough calls for Townsend in finalising Scotland World Cup squad
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

EDINBURGH, Aug 16 - Scotland coach Gregor Townsend admitted he had to have some difficult conversations with players left out of his 33-man World Cup squad, which was announced on Wednesday. The Scots had begun pre-tournament preparations with 41 players and the numbers were then reduced to 37 earlier this month before Wednesday’s final cut. Those dropped include Stuart McInally, who captained the side at the last World Cup and was hoping for a final swansong before quitting rugby later this year to become an airline pilot. “They've all had big goals and dreams to get to this World Cup. And that will drive our standards up over the next few weeks in training,” Townsend said.

Persons: Gregor Townsend, Stuart McInally, ” Townsend, “, it's, I've, haven't, “ It's, we've, We've, you've, Mark Gleeson Organizations: EDINBURGH, Scotland, Georgia, Thomson Locations: France, Scotland, Cape Town

A panel displaying share prices is seen inside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen October 23, 2009. The Shenzhen Stock Exchange, one of the two major bourses in the Chinese mainland, is in negotiations with the Saudi Tadawul Group (1111.SE), operator of the Saudi Stock Exchange, for ETF Connect, as the programme is called, two of the sources said. The China Securities Regulatory Commission, the Shenzhen Stock Exchange and the Tadawul Group did not respond to Reuters' requests for comment. China has launched 'ETF Connect' projects in recent years with offshore stock exchanges in Hong Kong, Japan, South Korea, and Singapore. Reporting by Xie Yu and Selena Li in Hong Kong; Additional reporting by Hadeel Al Sayegh in Dubai; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Yip, HONG KONG, HKEX, Jackie Choy, Xie Yu, Selena Li, Hadeel Al, Sumeet Chatterjee, Muralikumar Organizations: Shenzhen Stock Exchange, REUTERS, Saudi Tadawul Group, Saudi Stock Exchange, Connect, China's, China Securities Regulatory Commission, Tadawul, Singapore . Industry, Government Bond Index, Management, Saudi, Hong Kong Exchanges, Clearing, Tadawul Group, Hong Kong bourse, Morningstar Asia, Saudi Arabia's Ministry of Investment, Saudi Aramco, Thomson Locations: Shenzhen, HONG, China, Saudi, Beijing, Riyadh, Saudi Arabia, East Asia, Hong Kong, Japan, South Korea, Singapore, HK, Hong, Europe, East, Africa, Hadeel Al Sayegh, Dubai

☆ Britain to create new regime to deal with insurance company failures
▼ + stars: | 2023-08-02 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File PhotoLONDON, Aug 2 (Reuters) - Britain said on Wednesday it would start work on setting up new rules specially designed to prevent a big insurance company collapse from crashing the financial system. But no such specifically tailored regime currently exists in Britain to deal with failures in the country's insurance industry, which is the fourth largest in the world. The European Union is in the process of approving its own set of rules for handling insurance company failures. In Britain, insurance company collapses currently come under modified UK company insolvency arrangements, which the finance ministry said may be less effective for an industry with 2.7 trillion pounds ($3.45 trillion) in assets. The timing of the new regime is unclear given that legislation is needed and Britain is likely to face national elections next year.

Persons: Hollie Adams, Huw Jones, Jane Merriman Organizations: Bank of England, City of, REUTERS, Regulators, Bank of, European, Shareholders, Thomson Locations: City, City of London, Britain, Silicon, Gibraltar, London

☆ Springboks change 14 for Argentina rematch in Buenos Aires
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +3 min

He has continued to cast his net wide and manage the minutes of the players with a further 14 changes for Saturday’s test. The only one to retain their place is flyhalf Manie Libbok, with regular starter Handre Pollard still working his way back from injury. Jasper Wiese is in at number eight, with versatile loose-forwards Franco Mostert and Deon Fourie on the side of the scrum. "There is not a player in our enlarged squad who is fully confident that he will be in the World Cup squad, so the competition for places is intense." The Boks scraped a barely deserved win at Ellis Park on Saturday as they withstood intense pressure from Argentina, and will expect a backlash from the home side.

Persons: Manie Libbok, Andrew Boyers, Hooker Bongi Mbonambi, Gerhard Steenekamp, Jacques Nienaber, Handre Pollard, Fullback Damian Willemse, Canan Moodie, Makazole Mapimpi, Lukhanyo, Andre Esterhuizen, Cobus Reinach, Thomas du Toit, Trevor Nyakane, Marvin Orie, Jean Kleyn, Jasper Wiese, Franco Mostert, Deon Fourie, Nche, Nienaber, Damian Willemse, – Jasper Wiese, – Deon Fourie, Mbonambi, Joseph Dweba, – Vincent Koch, Jean, Luc du Preez, Evan Roos, Herschel Jantjies, Jesse Kriel, Kurt, Lee Arendse, Nick Said, Christian Radnedge Organizations: Rugby Union, International, England, South Africa, Twickenham, Rugby World, Argentina, Springbok, Rugby, Fullback, Ireland, South African Rugby, World, Ellis, Thomson Locations: South, London, Britain, Africa, Buenos Aires, New Zealand, Johannesburg, Mbonambi, France, Argentina

☆ 'Not found': China's ex-foreign minister is gone but wait for explanation goes on
▼ + stars: | 2023-07-31 | by ( Yew Lun Tian | ) www.reuters.com time to read: +6 min

BEIJING, Aug 1 (Reuters) - Hours after China's top legislature convened a special meeting last week to remove foreign minister Qin Gang, photos and mentions of the 57-year-old started disappearing from his former ministry's website. China named veteran diplomat Wang Yi to replace Qin, but gave few further clues on the reason for the change. Foreign ministry spokeswoman Mao Ning on Thursday said Beijing will release information in a timely matter regarding Qin and opposes "malicious hype". The foreign ministry removed all online traces to its former chief protocol officer Zhang Kunsheng who was found guilty of corruption and using his position of power to obtain sex in 2016. He then made a triple jump from director of protocol to U.S. ambassador and then to foreign minister and state councillor in five years, bullet-train speed by China standards.

Persons: Qin Gang, Qin, Gang, Xi Jinping, Wang Yi, Mao Ning, Ian Johnson, Wu Qiang, Wu, Xiao Yaqing, Zhang Kunsheng, Mao Zedong, Mao, Xi, Xi's, Alfred Wu, Lee Kwan, Yew Lun Tian, John Geddie Organizations: Foreign Ministry, State, Information Office, Council, Foreign Relations, Industry, Committee, Communist, Xinhua, Lee Kwan Yew, of Public Policy, Thomson Locations: BEIJING, China, Beijing, Washington, Singapore, Lincoln

☆ Indonesia plans incentives for EV makers, sets up meeting with BYD, Tesla
▼ + stars: | 2023-07-25 | by ( ) www.reuters.com time to read: +1 min

Indonesia, the largest economy in Southeast Asia, has been trying to attract EV makers to invest in the country, enticing them with its rich nickel reserves - the world's biggest - which can be processed into EV batteries. However, some automakers like China's BYD have instead chosen to invest in Thailand, the region's automotive hub. "Tomorrow we are going to finalise incentives that we are going to give to any EV investment in Indonesia," Luhut said, adding they were awaiting President Joko Widodo's approval. Indonesia has been wooing Tesla for years, hoping to host an Asian production hub for the American EV maker. Tesla has been in talks with Indian officials for an investment in an EV factory there.

Persons: Pandjaitan, Luhut, Joko Widodo's, Elon Musk, Tesla, Ananda Teresia, Gayatri Suroyo, Kanupriya Kapoor Organizations: CNBC Indonesia, Maritime Affairs, Natural, EV, Thomson Locations: JAKARTA, Indonesia, Thailand, Vietnam, Southeast Asia, China's, Chengdu, California, United States, American

☆ India's Vedanta says it's awaiting govt nod for semiconductor plant in Gujarat
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 18 (Reuters) - India's Vedanta is awaiting government approval for incentives under a modified semiconductor production plan to begin construction of a plant in the country's western state of Gujarat, for which its has tapped technology and equity partners, a top executive said on Tuesday. The group already has a partnership with Taiwan's Innolux for display fab manufacturing, he added. After Foxconn pulled out, Vedanta said it had lined up partners for the venture, without giving details. Separately, Gujarat is holding talks with Foxconn over a semiconductor plant, while the Taiwanese company had said it intends to apply for incentives under India's semiconductor production plan. Reporting by Sethuraman NR and Aleef Jahan in Bengaluru; Editing by Savio D'Souza and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Taiwan's, Anil Agarwal, Taiwan's Foxconn, Foxconn, Vedanta, Foxconn's pullout, Aleef, Savio D'Souza, Maju Samuel Organizations: Vedanta Semiconductors, Reuters, Sethuraman, Thomson Locations: BENGALURU, Gujarat, Bengaluru

GANDHINAGAR, India, July 17 (Reuters) - Debt restructuring talks made little progress during the third finance meeting of the G20 countries in India as the bloc was unable to overcome key differences and low attendance due to domestic issues adding to the roadblocks. The finance ministers of the G20 countries gathered in the western Indian state of Gujarat, hoping to push for agreements on debt restructuring for vulnerable countries, global minimum taxation and reforms on multilateral development banks. "We are not making much headway with the debt restructuring issue," a senior official, who is part of the meeting, told Reuters on Monday. Officials said several finance ministers were forced to skip the meetings due to domestic issues that were a "priority". Finance ministers from Japan, Australia, Canada, Indonesia, South Korea, Indonesia, South Africa, along with the United States and India were present.

Persons: Janet Yellen, Joachim Nagel, Aftab Ahmed, Chizu Organizations: Reuters, United, Treasury, Officials, Finance, Thomson Locations: GANDHINAGAR, India, Gujarat, Zambia, United States, New Delhi, Japan, Australia, Canada, Indonesia, South Korea, South Africa, Argentina, Brazil, France, Mexico, Germany's, Parisian, Germany

☆ India's Vedanta to enter the chip market this year after Foxconn split
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 12 (Reuters) - India's Vedanta will enter the market for the manufacturing of chips and displays this year, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn (2317.TW) pulled out of the $19.5 billion chipmaking project. Foxconn separately intends to apply for incentives under India's semiconductor production plan. In an address to the shareholders, Agarwal said Vedanta will "this year, subject to government approval" begin its foray to setup its semiconductor and display units. After Foxconn pulled out, Vedanta said it has lined up partners for the venture, without giving any further details. Volcan Investments, Vedanta's holding company and Foxconn had signed a pact last year to set up semiconductor and display production plants in Prime Minister Narendra Modi's home state Gujarat in western India.

Persons: Anil Agarwal, Foxconn, Agarwal, Vedanta, Narendra Modi's, Foxconn's pullout, Tanvi Mehta, Nivedita Bhattacharjee, Louise Heavens Organizations: Volcan Investments, Reuters, JV, Sethuraman NR, Thomson Locations: BENGALURU, Volcan, Gujarat, India, Bengaluru, New Delhi

SummaryCompanies Trial of first cargo a success - ministerPrivate refinery PARCO also asked to buy Russian oil - ministerDiscounted crude a boost amid Pakistan's strained financesISLAMABAD, July 12 (Reuters) - Pakistan is negotiating to buy a second shipment of discounted Russian crude oil, its petroleum minister said on Wednesday, highlighting the success of a first deal in helping the cash-starved nation. Musadiq Malik told reporters there was no scenario under which the country was "not benefiting" from Russian crude. "It will still benefit us," he said of the Russian oil. Malik said private entity Pak-Arab Refinery Limited (PARCO) had also been asked to import Russian crude. Islamabad is looking for Russian crude to account for one third of total oil imports.

Persons: Musadiq Malik, Malik, Asif Shahzad, Shivam Patel, Toby Chopra, Mark Potter Organizations: PARCO, Pakistan Refinery Limited, International Monetary Fund, Moscow, Arab Refinery, Energy, United, Thomson Locations: ISLAMABAD, Pakistan, Urals, Karachi, Russian, India, China, Ukraine, Moscow, Islamabad, Saudi Arabia, United Arab Emirates

Foxconn (2317.TW) withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback to Prime Minister Narendra Modi's chipmaking plans for India. "Foxconn is committed to India and sees the country successfully establishing a robust semiconductor manufacturing ecosystem." India expects its semiconductor market to be worth $63 billion by 2026, but Modi's plan has so far floundered. The $3 billion ISMC project is stalled because Tower is being acquired by Intel, while another $3 billion plan by IGSS was also halted because it wanted to re-submit its application, Reuters has reported. Like Foxconn, the Indian government has said the breakup of the JV had "no impact" on India's semiconductor plans, adding that both companies were "valued investors" in the country.

Persons: India Foxconn, Foxconn, Narendra Modi's chipmaking, Modi, IGSS, Ann Wang, Vedanta, Anil Agarwal, Vedanta's, Yimou Lee, Ben Blanchard, Tanvi Mehta, Aditya Kalra, Jacqueline Wong, Sonali Paul, Alexander Smith Organizations: India, JV, Vedanta, TW, Semiconductors, IGSS Ventures, ISMC, Intel, Reuters, REUTERS, Vedanta's, Vedanta Ltd, Vedanta Resources, Thomson Locations: chipmaking, India, TAIPEI, MUMBAI, Singapore, New Taipei City, Taiwan, Vedanta's India, Vedanta's London, Taipei, Mumbai, New Delhi, Pandya, Bengaluru

VILNIUS, July 10 (Reuters) - Ukraine's largest Western allies are still finalising a joint framework that would pave the way for long-term security assurances for Kyiv, and may wait until the end of a NATO summit this week to announce them, European diplomats say. The 31-member NATO alliance meets in Lithuania on Tuesday, aiming above all to give Ukraine some kind of path to membership, but still divided over how far to go. But it wants a firm commitment at the summit that it will be invited to join after the war. In the meantime, it has sought assurances of current and long-term security commitments to help it defend itself now and deter renewed aggression from Moscow once the war ends. The United States' military aid for Israel is worth about $3.5 billion a year, but the relationship also entails a great deal of political support.

Persons: Joe Biden, Washington, Andrew Gray, Sabine Siebold, Alexander Ratz Organizations: Kyiv, NATO, European Union, European Union . U.S, CNN, United, Thomson Locations: VILNIUS, Lithuania, Ukraine, Russia, Moscow, Britain, France, Germany, United States, Japan, Canada, Italy, Israel, Berlin

☆ Zelenskiy says he understands Ukraine will be in NATO
▼ + stars: | 2023-07-10 | by ( Oleksandr Kozhukhar | ) www.reuters.com time to read: +2 min

KYIV, July 10 (Reuters) - President Volodymyr Zelenskiy said on the eve of the NATO summit that Ukraine will be part of the alliance and expects from the meeting an "algorithm" for Kyiv to officially join it. "We are still working on the wording, that is, on the specific words of such confirmation, but we already understand the fact that Ukraine will be in the alliance," Zelenskiy said late on Monday in his nightly video address. Zelenskiy said the Vilnius summit must confirm Ukraine is already 'de facto' a member of NATO as it has its weapons and shares values with the alliance. "Even if different positions are voiced, it is still clear that Ukraine deserves to be in the alliance," Zelenskiy said. "Not now - there is a war, but we need a clear signal.

Persons: Volodymyr Zelenskiy, Zelenskiy, Joe Biden, Oleksander Kozhukhar, Ron Popeski, Lidia Kelly, Mark Porter, Stephen Coates Organizations: NATO, Kyiv, U.S, Reuters, Thomson Locations: Ukraine, Kyiv, Vilnius, Lithuania, Canada, Japan, Lincoln

☆ Factbox: Sri Lanka asks foreign investors for a 30% haircut in debt restructure
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +5 min

The domestic debt restructure is needed to help the country reach the IMF programme goal of reducing overall debt to 95% of GDP by 2032. WHAT WILL THE DOMESTIC DEBT RESTRUCTURING INCLUDE? "We are asking foreign debt holders for a 30% haircut but that is still under discussion," Weerasinghe said. This will be implemented in Phase 2 of the domestic debt restructuring. Aiming to contain any potential market volatility, Sri Lanka declared a five-day holiday from June 29 to July 3.

Persons: Read, Nandalal Weerasinghe, Weerasinghe, Mahinda Siriwardana, CBSL, Uditha Jayasinghe, Shilpa Jamkhandikar, Kim Coghill, Emelia Organizations: International Monetary Fund, IMF, Sri Lanka Development, Bank of Sri, Treasury, Sri, Thomson Locations: Colombo, Sri Lanka, Britain, Bank of Sri Lanka, China, Japan, India

☆ Nissan will not fill COO position left open by Gupta's departure
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +1 min

TOKYO, June 28 (Reuters) - Nissan Motor Co (7201.T) has decided to not fill in the chief operating officer position vacated by Ashwani Gupta under a new management structure, the Japanese automaker said on Wednesday. Responsibilities previously carried out by the operations chief will be taken over by other executives, it said. Chief Financial Officer Stephen Ma will take over operations performance duties. Japan's No.3 automaker is investigating accusations that Uchida carried out surveillance of Gupta, Reuters has reported. Nissan is in the midst of finalising the terms of a sweeping reset of its decades-old alliance with Renault SA (RENA.PA).

Persons: Ashwani Gupta, Hideyuki Sakamoto, Stephen Ma, Makoto Uchida, Nissan, Gupta, Japan's, Uchida, Satoshi Sugiyama, Muralikumar Organizations: Nissan, Reuters, Renault SA, Renault, Thomson Locations: TOKYO

☆ EU to meet on U.S. data transfer pact in mid-July - lawyer
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, June 26 (Reuters) - The European Commission is due to finalise a new data transfer pact with the United States by mid-July, a lawyer for Ireland's Data Protection Commissioner (DPC), the bloc's lead regulator for many big tech firms, said on Monday. The European Union and United States agreed in March 2022 on the new mechanism to safely transfer EU citizens' personal data to the U.S. after Europe's top court threw out the two previous data transfer frameworks because of concerns about U.S. intelligence agencies accessing Europeans' private data. The two sides have since been working through the detail and Catherine Donnelly, a lawyer for the DPC, said the Irish regulator understood the pact will be presented to the College of Commissioners, the Commission's collective decision-making body, by mid-July. The social media giant said it expects the new pact to be fully implemented before it has to suspend transfers. Reporting by Padraic Halpin, additional reporting by Foo Yun Chee in Brussels, editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Catherine Donnelly, Meta, Denis McDonald, Padraic Halpin, Foo Yun Chee, Christina Fincher Organizations: DUBLIN, European, Data, European Union, United, College of Commissioners, Facebook, Irish High Court, Thomson Locations: United States, Dublin, Europe, Brussels

☆ Factbox: Japan ramps up efforts to strengthen its chip industry
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +4 min

Below are investments in Japan announced by chipmakers and measures the government is taking to revive its semiconductor industry. Sony Group (6758.T) and auto parts maker Denso (6902.T), which will use the chips TSMC makes, are also investors. It said it would be the first chipmaker to bring EUV technology to Japan for production. It has offered TSMC a 476 billion yen subsidy, or about half the expected cost of the factory. Rapidus secured an initial 70 billion yen of funding from the government, and local media reported in April that the government was finalising a plan to provide an additional 300 billion yen.

Persons: TW, Rapidus, JIC, Makiko Yamazaki, Sam Nussey, Tim Kelly, Miho Uranaka, Miyoung Kim, Jamie Freed Organizations: Semiconductor, chipmakers, Taiwan Semiconductor Manufacturing, Sony Group, Micron Technology, Samsung Electronics, Reuters, Business Machines, IBM, Samsung, Nikon, Tokyo, Japan Investment Corp, Innovation Network Corp of Japan, Toshiba, Japan Industrial Partners, Thomson Locations: TOKYO, Japan, Kyushu, Denso, KS, Yokohama, Japan's, Chitose, Hokkaido, Rapidus, U.S, China, State

☆ Britain says insurer capital rule changes to start by end of 2023
▼ + stars: | 2023-06-22 | by ( Huw Jones | ) www.reuters.com time to read: +1 min

The government and Bank of England had clashed over how far to ease the rules, and industry has repeatedly called for the changes to be implemented speedily. "The Government expects that reform of the risk margin will be in force in legislation by year end 2023," the ministry said in a statement. The risk margin refers to the potential cost for a failing insurer to transfer its policies to a third party to avoid disruption to customers. Parliament is finalising a new financial services bill to amend rules inherited from the EU, giving the ministry and regulators powers to make changes. Reporting by Huw Jones; Editing by Toby Chopra and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Huw Jones, Toby Chopra, Christina Fincher Organizations: European Union, Bank of England, Thomson Locations: Britain, London

But it was surpassed on day one of the Paris show by Indian rival IndiGo's (INGL.NS) order for 500 Airbus narrowbody jets. Air India said it was worth $70 billion at list prices, though airlines typically get discounts on big orders worth at least half the headline price, analysts say. The Airbus part comprises 210 A320neo and A321neo narrowbody jets and 40 A350 widebodies. "Our ambitious fleet renewal and expansion programme will see Air India operate the most advanced and fuel-efficient aircraft across our route network within five years," Air India Chief Executive Campbell Wilson said in a statement. The mega-order will also put Air India on a stronger footing to compete with budget rival IndiGo, which has a majority share of the Indian market and a strong position in regional flights.

Persons: Royce, Campbell Wilson, LUDOVIC MARIN, Lars Wagner, Tim Hepher, Joanna Plucinska, Allison Lampert, Valerie Insinna, Aditi Shah, Mark Potter Organizations: India, Airbus, Boeing, Ethiopian Airlines, Paris, Air India, Air, Reuters Graphics Air, Visitors, International Paris Air, Le, Royce, Aero Engines, Tata, Emirates, IndiGo, . Leasing, Avolon, Philippine Airlines, Qantas, Thomson Locations: PARIS, India, Paris, Air India, France

DOHA, June 20 (Reuters) - Qatar is set to secure its second large gas supply deal with a Chinese state-controlled company in less than a year, sources familiar with the deal told Reuters on Tuesday. CNPC also will take an equity stake in the eastern expansion of Qatar's North Field liquefied natural gas (LNG) project, the sources said. In an identical deal, QatarEnergy sealed a 27-year supply agreement with China's Sinopec in November for 4 million tons a year. The state-owned Chinese gas giant also took an equity stake equivalent to 5% of one LNG train of 8 million tons a year capacity. Tuesday's deal, first reported by the Financial Times, will be QatarEnergy's third deal to supply LNG from the expansion to an Asian buyer.

Persons: CNPC, QatarEnergy, China's Sinopec, Saad, QatarEnergy didn't, Andrew Mills, Maha El, Kanjyik Ghosh, Kim Coghill, Christopher Cushing Organizations: DOHA, Reuters, China National Petroleum Corporation, Financial Times, LNG, Thomson Locations: Qatar, China, Arab, Asia, Ukraine, Europe, finalising, QatarEnergy, United States, Australia, Doha, Maha, Maha El Dahan, Dubai, Bengaluru

☆ EU considering major Tunisia aid package as migration surges
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

Speaking in Tunisia, von der Leyen said 900 million euros in macrofinancial assistance, plus an immediate 150 million euros in budget support could be ready "as soon as the necessary agreement is found", without elaborating. She said the EU would also this year provide Tunisia with 100 million euros for border management, search and rescue, anti-smuggling operations and returns "rooted in respect for human rights". Von der Leyen was accompanied by Dutch Prime Minister Mark Rutte and Italian Prime Minister Giorgia Meloni, whose country is the main arrival point for migrants crossing the Mediterranean from Tunisia. She said on Sunday the EU and Tunisia had already signed a joint declaration, which she hailed as an important step "towards the creation of a real partnership". She said there was "an important window of opportunity" to finalise the aid agreement before the European Council at the end of June.

Persons: Ursula von der Leyen, von der Leyen, Kais Saied, Saied, Von der Leyen, Mark Rutte, Giorgia Meloni, Tunisians, Angus McDowall, Federico Maccioni, Alex Richardson, Sharon Singleton Organizations: European, EU, International Monetary Fund, Dutch, Italian, IMF, European Council, Thomson Locations: TUNIS, European Union, Tunisia, Meloni, Europe, Tunisian, Tunis, Rome

☆ EU ministers seek long-stalled migration deal
▼ + stars: | 2023-06-08 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

A tentative deal on the table comes after years of damaging feuds between EU states since their cooperation collapsed in acrimony in 2015 as more than a million people - mostly fleeing the war in Syria - arrived across the Mediterranean. "We can only handle migration together as the whole EU." CAMPSFor nearly a decade, EU countries traded blame for handling new arrivals. On Thursday, the ministers will also discuss EU aid for Tunisia, which is a gateway for African migration to Europe and faces growing instability. Bad blood spilled over as eastern EU countries like Poland and Hungary refused to host anyone from the mainly-Muslim Middle East and North Africa.

Persons: Nancy Faeser, France's Gerald Darmanin, Benoit van Overstraeten, Bart Meijer, Alexander Ratz, Kristina, Gabriela Baczynska, Mark Potter Organizations: Home, European Union, Liberal, Thomson Locations: BRUSSELS, Syria, Spain, Tunisia, Europe, Italy, Greece, Germany, Sweden, Poland, Hungary, East, North Africa, EU, Budapest

☆ New Zealand and Fiji finalising defence agreement - Fiji PM
▼ + stars: | 2023-06-07 | by ( Lucy Craymer | ) www.reuters.com time to read: +2 min

[1/2] Fiji Prime Minister Sitiveni Rabuka and New Zealand Prime Minister Chris Hipkins hold a press conference in Wellington, New Zealand June 7, 2023. REUTERS/Lucy CraymerWELLINGTON, June 7 (Reuters) - New Zealand and Fiji are finalising a defence agreement that will increase engagement between the two countries militaries and help build capacity and skills in the Fiji Defence Force, the Fijian prime minister said on Wednesday. Fiji’s Prime Minister Sitiveni Rabuka told media in Wellington, where he is meeting senior New Zealand government officials including the prime minister and opposition leader, that the agreement would be finalised next week. “The agreement will allow defence officials to undertake engagement in different areas including capacity building and upskilling and exposure to new technologies interoperability and technical support among other,” he said. In May, the U.S and Papua New Guinea signed a defence cooperation agreement and a maritime surveillance deal.

Persons: Sitiveni Rabuka, Chris Hipkins, Lucy Craymer WELLINGTON, ”, Rabuka, “, ” Hipkins, Lucy Craymer, Michael Perry Organizations: Fiji Prime, Zealand, REUTERS, Fiji Defence Force, Fiji’s, New Zealand, New, U.S, NZ, Thomson Locations: Wellington , New Zealand, New Zealand, Fiji, Wellington, Australia, China, Solomon Islands, U.S, Papua New Guinea, Vanuatu

☆ UBS CEO warns of painful jobs decisions after Credit Suisse takeover
▼ + stars: | 2023-06-02 | by ( John Revill | ) www.reuters.com time to read: +2 min

BERN, June 2 (Reuters) - UBS (UBSG.S) Chief Executive Sergio Ermotti on Friday warned of painful decisions about job cuts following the takeover of Credit Suisse (CSGN.S), which he said he hoped would be formalised in coming days. Synergies is part of the story," Ermotti said at an event organised by the Asset Management Association Switzerland in Bern. That management reshuffle only saw Credit Suisse CEO Ulrich Koerner joining the top leadership. Switzerland's Social Democratic Party has drawn up proposals to shrink UBS assets after its takeover of Credit Suisse to reduce the risk of another expensive state-backed rescue. "I don't think we are too big for Switzerland," Ermotti said, adding that in banking "size matters."

Persons: Sergio Ermotti, Ermotti, Ulrich Koerner, John Revill, Tomasz Janowski Organizations: UBS, Credit Suisse, Asset Management Association, Swiss, Switzerland's Social Democratic Party, Thomson Locations: BERN, Bern, Switzerland

☆ Global tax would spoil investors’ plastic party
▼ + stars: | 2023-06-01 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

This may change if supporters of taxes and other restrictive measures prevail at ongoing talks for a global treaty to end plastic pollution by 2040. And the world lacks sufficient infrastructure to sort discarded resins: only 9% of global plastic is recycled each year, the Organisation for Economic Co-operation and Development reckons. Some 90% of people support measures to combat plastic pollution, a global Ipsos survey from 2021 shows. Countries including Britain have already started applying levies on virgin plastic packaging. CONTEXT NEWSRepresentatives of 175 countries in March endorsed a landmark resolution to develop international, legally binding rules to end plastic pollution by 2040.

Persons: Inger Andersen, Barr, Aimee Donnellan, Pranav Kiran Organizations: MILAN, Reuters, Big Oil, ExxonMobil, Dow, Indorama Ventures, Saudi Aramco, Minderoo, Organisation for Economic Co, ” United Nations, Reuters Breakingviews, Barclays, Twitter, Thomson Locations: Sinopec, Britain, Paris

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