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☆ Conservative women leaders make their entrance at the UN General Assembly
▼ + stars: | 2023-09-22 | by ( Stephanie Fillion | ) edition.cnn.com time to read: +6 min

United Nations CNN —When Jacinda Ardern brought her baby Neve to the United Nations for the 2018 General Assembly, then-New Zealand Prime Minister became an emblematic figure of modern women in politics. But women attending the annual top rendezvous of diplomacy have remained a minority, and the UN General Assembly this year is no different. “This perpetuates the cycle,” Susana Malcorra, a former foreign minister of Argentina and president of Global Women Leaders Voices, said. Of course, not all the women leaders attending UNGA are on the far side of the political spectrum. It was Čaputová’s last General Assembly as president of her country, as she announced a few months ago she won’t seek reelection in 2024 for personal reasons.

Persons: Jacinda Ardern, Neve, ” Susana Malcorra, Katalin Novak, Giorgia Meloni, Meloni, “ Meloni, ” Richard Gowan, Katalin Novák, Viktor Orbán, it’s, Novák, Orban, Novak, ”, Mike Segar, Dina Boluarte, Peru’s, Pedro Castillo, Boluarte, UNGA, Zuzana, Maia Sandu, Nataša Pirc Musar, –, Sheikh Hasina, Mia Mottley, Bob Marley, Xiomara Castro, Ursula von der Leyen, Kristalina Georgieva, Ngozi, Natalie Portman Organizations: United Nations CNN, United Nations, Zealand, UN, Assembly, Global, Italian, Ukraine, Crisis, United Nations Security Council, Reuters, Security Council, Slovenia, Big Apple, European Commission, International Monetary Fund, World Trade Organization Locations: New York, Argentina, Italy, Ukraine, Slovakia, Moldova, Barbados, New York City, Honduras

☆ Climate change is already costing us money, but we have a chance to limit the worst of it and prosper. Here's how.
▼ + stars: | 2023-09-21 | by ( Marianne Guenot | ) www.businessinsider.com time to read: +12 min

But to get there, we'll need to spend a lot of money up front and be real about the climate costs we're already paying — even if we don't always notice them. The full costs of extreme weather are often hiddenThe biggest fires, floods, and heat waves tend to draw headlines. But for years, the more subtle effects of extreme weather had gone pretty much unnoticed. This situation could be made worse by a looming financial "mega shock," which could arise as more people wake up to the reality of the climate crisis, Butler said. The Biden administration has already earmarked $52 billion to tackle the climate crisis for 2024.

Persons: —, Amir Jina, It's, Jina, Idalia, Joe Raedle, Creon Butler, Mario Tama, Butler, haven't, ANGELA WEISS, Hurricane Ian, Matias J, Biden, That's, We've, it's, Bulter Organizations: University of Chicago, Getty, Insurance, Miami Herald, Tribune, Service, UN, Intellectual, Organization Locations: Tarpon Springs , Florida, London, New York City, , Florida, Hurricane, Botswana, Denmark, Namibia

[1/2] United Nations Secretary-General Antonio Guterres addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. The summit will feature speeches from leaders who are responding to his call to "accelerate" global climate action, including Brazil, Canada, the European Union, Pakistan, South Africa and Tuvalu. Guterres said one of the aims was to spur action from countries and companies whose climate plans were not in line with the global climate target. U.S. Special Envoy on Climate Change John Kerry will attend the summit but will not deliver a speech, a spokesperson said. China's mission to the United Nations and UAE did not immediately respond for comment.

Persons: Antonio Guterres, Brendan McDermid, General Antonio Guterres, Guterres, John Kerry, Selwin Hart, I'm, Valerie Volcovici, Stephen Coates Organizations: United Nations, General Assembly, REUTERS, Companies Allianz, UNITED, Ambition, United Arab Emirates, European Union, Allianz, World Bank, International Monetary Fund, California ., Reuters, UN, Assembly, UAE, Thomson Locations: New York City, U.S, China, United States, Brazil, Canada, Pakistan, South Africa, Tuvalu, London, California, California . U.S, Paris

"The move from fossil fuels to renewables is happening – but we are decades behind," Guterres said at the start of the one-day summit. "We must make up time lost to foot-dragging, arm-twisting and the naked greed of entrenched interests raking in billions from fossil fuels." Those not invited to speak were the world's two top polluters - the United States and China – though U.S. Special Envoy on Climate Change John Kerry was in the audience. "This climate crisis is a fossil fuel crisis," he said, drawing applause from the heads of state and others in the room. "Climate change is a top priority for my administration," Thavisin told the gathering, his country having recently created a climate change ministry.

Persons: Antonio Guterres, Mike Segar, Guterres, John Kerry, China's U.N, William Ruto, Ruto, Gavin Newsom, Srettha Thavisin, Thavisin, Sultan Ahmed al, Jaber, COP28, Mia Mottley, Ursula von der Leyen, Pushpa Kamal Dahal, Valerie Volcovici, Katy Daigle, Howard Goller Organizations: United Nations, General Assembly, REUTERS, Companies Allianz, General, United Arab Emirates, Thailand's, FINANCE, Security Council, Allianz, World Bank, International Monetary Fund, Fund, Thomson Locations: New York City, U.S, COP28, Dubai, Brazil, Canada, Pakistan, South Africa, Tuvalu, United States, China, California, UAE, Barbados, Ukraine

☆ US Representative Wexton won't seek reelection after new diagnosis
▼ + stars: | 2023-09-18 | by ( Katharine Jackson | ) www.reuters.com time to read: +2 min

REUTERS/Mary F. Calvert Acquire Licensing RightsWASHINGTON, Sept 18 (Reuters) - U.S. Representative Jennifer Wexton, a Virginia Democrat, on Monday said she would not seek reelection after doctors updated her diagnosis to a more serious condition, which she likened to "Parkinson’s (disease) on steroids." PSP is a neurological disorder that affects body movements, causing problems with walking, eye movement, and swallowing and worsens over time. The rare condition is characterized by symptoms that are similar to Parkinson's but more difficult to treat. Wexton flipped a seat held by Republicans for decades in 2018 as voters veered away from then-President Donald Trump. Reporting by Katharine Jackson; editing by Jonathan Oatis and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Wexton, Steven Mnuchin, Mary F, Calvert, I’ve, I’m, Wexton, Donald Trump, Katharine Jackson, Jonathan Oatis, Bill Berkrot Organizations: Financial, Treasury, International, REUTERS, Rights, Virginia Democrat, National Institute of Neurological Disorders, Thomson Locations: Washington , U.S, Virginia, Northern Virginia, Washington

☆ US representative won't seek reelection after doctors say Parkinson's more serious
▼ + stars: | 2023-09-18 | by ( Katharine Jackson | ) www.reuters.com time to read: +2 min

REUTERS/Mary F. Calvert Acquire Licensing RightsWASHINGTON, Sept 18 (Reuters) - U.S. Representative Jennifer Wexton, a Virginia Democrat, on Monday said she wouldn't seek reelection after doctors updated her diagnosis to a more serious condition, which she likened to "Parkinson’s (disease) on steroids." The third-term congresswoman announced in April that she had been diagnosed with Parkinson's but would continue to work while being treated for the disease, which was affecting her speech. There is no ‘getting better’ with PSP," she said, announcing her decision on Monday. Wexton flipped a seat held by Republicans for decades in 2018 as voters veered away from then-President Donald Trump. Reporting by Katharine Jackson; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Jennifer Wexton, Steven Mnuchin, Mary F, Calvert, wouldn't, I’ve, I’m, Donald Trump, Katharine Jackson, Jonathan Oatis Organizations: Financial, Treasury, International, REUTERS, Rights, Virginia Democrat, Thomson Locations: Washington , U.S, Virginia, Northern Virginia, Washington

☆ Developing Countries Double Down on Technology at Havana Summit
▼ + stars: | 2023-09-16 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Marc, Frank and Nelson AcostaHAVANA (Reuters) - Developing nations on Saturday declared Sept. 16 the annual "Day of Science, Technology and Innovation in the South" as they prepared to wrap up a two-day summit on the subject. "We note with deep concern the existing disparities between developed and developing countries in terms of conditions, possibilities and capacities to produce new scientific and technological knowledge," the final declaration of the G77 group of developing nations and China said. China maintains that it is not a G77 member, despite being listed as one by the bloc, but Beijing says it has supported the group's legitimate claims and maintained cooperative relations. At the same time, it calls for more cooperation between member nations in science, technology and innovation as strategies for their development. While more than 100 member delegations participated in the summit, only Brazil and a few dozen others were led by heads of state.

Persons: Marc, Frank, Nelson Acosta HAVANA, Miguel Diaz, Canel, Luiz Inacio Lula da Silva, Marc Frank, Nelson Acosta, David Gregorio Organizations: Science, Technology, Innovation, United Nations System, International, Cuban, United Nations Locations: China, Beijing, United, Brazil

REUTERS/Willy Kurniawan/File Photo/File Photo Acquire Licensing RightsCompanies PT Suralaya Indotenaga FollowSINGAPORE/JAKARTA, Sept 14 (Reuters) - Environmental groups have submitted a formal complaint to the World Bank for providing financial support for two coal-fired power plants in Indonesia, violating a pledge to stop backing fossil fuels. Plans to build two more would emit 250 million tons of climate-warming carbon dioxide into the atmosphere, the groups said a letter to World Bank compliance ombudsman Janine Ferretti. The IFC, the World Bank and Hana Bank Indonesia did not immediately respond to requests to comment. According to the Global Energy Monitor think tank, Indonesia was one of 11 countries to commission new coal plants last year. The JETP compels Indonesia to impose a moratorium on new coal-fired power plants, though there are exemptions for "captive" plants that serve other industrial facilities.

Persons: Willy Kurniawan, Janine Ferretti, CREA, David Stanway, Miral Organizations: Indonesia Power, Plant, REUTERS, World Bank, International Financial Corporation, IFC, Hana, Hana Bank Indonesia, Bank, Inclusive Development, Hana Bank, Research, Energy, Clean, PT, Raya, Global Energy Monitor, Thomson Locations: Suralaya, Banten province, Indonesia, SINGAPORE, JAKARTA, Hana Bank, Asia, U.S, Hana Bank Indonesia, Helsinki, Jakarta, China, India

☆ As China’s economy hits turbulence, a top Treasury official heads to Hong Kong to deepen ties with Beijing
▼ + stars: | 2023-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —A top US Treasury official is heading to Hong Kong as the White House continues its quest to ease tensions with Beijing and avoid a destabilizing crisis. During the trip, Neiman — the highest-ranking Treasury official to visit Hong Kong since 2019 — plans to meet with government officials, private sector economists and executives from the financial and legal sectors. He is also set to meet with US companies that are members of the American Chamber of Commerce in Hong Kong as well as with students. “Neiman will stress the United States’ focus on securing and advancing our economic and national security interests, along with those of our allies, and protecting human rights,” the Treasury official told CNN. Hong Kong is a semi-autonomous Chinese territory that is also the country’s international financial center.

Persons: Brent Neiman, Neiman, ”, “ Neiman, Ilaria Mazzocco, Joe Biden, Antony Blinken, John Kerry, Janet Yellen, Gina Raimondo, Yellen’s, Biden, Raimondo’s, can’t, Mazzocco, Yellen, Raimondo, “, ’, ” Clayton Allen, ” Allen, ” Nikki Haley, Nikki Haley, CNN’s Jake Tapper, Wally Adeyemo, it’s, ” Adeyemo, CNN’s Poppy Harlow, Andrew King Organizations: New, New York CNN, US Treasury, US, Treasury, CNN, American Chamber of Commerce, Center for Strategic & International Studies, Washington, Apple, Huawei, Eurasia Group, Republican, Future Union Locations: New York, Hong Kong, Beijing, China, States, Washington, West, United States, “ China

☆ The BRICS summit ended with no new currency and all 5 members issuing differing and contradictory commentary on de-dollarization
▼ + stars: | 2023-08-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

De-dollarization was a closely watched topic amid the BRICS summit last week. He said at a previous international meeting in July that it was important to establish an "independent financial system" based on local currency trade. But these international arrangements, trading arrangements, payment arrangements, these have been in place for a long time." AdvertisementAdvertisementInstead, South Africa appears to veer toward increasing the bloc's trade in local currencies. The economist who coined the term BRICS slammed the idea altogetherJim O'Neill, a former Goldman Sachs economist who first gave the BRICS bloc its name, has slapped down the idea of a common BRICS currency.

Persons: dollarization, SWIFT, Luiz Inacio Lula da Silva, Putin, Vladimir Putin, I'm, Hardeep Singh Puri, Puri, Xi, Xi Jinping, Enoch Godongwana, Paul Mashatile, Jim O'Neill, Goldman Sachs, O'Neill Organizations: Service, United, United Arab Emirates, Times, CNBC, Bloomberg, Financial Times Locations: Wall, Silicon, South Africa, Brazil, Russia, India, China, Saudi Arabia, Iran, Ethiopia, Egypt, Argentina, United Arab, New Delhi, Johannesburg, South

Delegates walk past the logos of the BRICS summit during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. WHY DOES LULA WANT A BRICS CURRENCY? A BRICS currency "increases our payment options and reduces our vulnerabilities," he told the summit's opening plenary session. In July, India's foreign minister said, "there is no idea of a BRICS currency". WHAT ARE THE CHALLENGES OF SETTING UP A BRICS CURRENCY?

Persons: GIANLUIGI, Luiz Inacio Lula da Silva, LULA, doesn't, Vladimir Putin, Xi Jinping, Lesetja Kganyago, you've, Kganyago, Herbert Poenisch, Putin, Rachel Savage, Ethan Wang, Marcela Ayres, Gabriel Stargardter, Naomi Rovnick, Libby George, Marc Jones, John Stonestreet Organizations: REUTERS Acquire, Rights, Mercosur, South, Zhejiang University, Federal Reserve, FX, International Monetary Fund, Bank of International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights JOHANNESBURG, Brazil, Russia, India, China, Russian, videolink, African, Ukraine, Beijing, Brasilia, Rio de Janeiro, London

☆ Russia, expansion and Western relations in the spotlight as leaders gather for pivotal BRICS summit
▼ + stars: | 2023-08-22 | by ( Elliot Smith | ) www.cnbc.com time to read: +9 min

South African police officers walk in front of an event banner outside the venue for the BRICS summit at the Sandton Convention Center in the Sandton district of Johannesburg, South Africa, on Monday, Aug. 21, 2023. Ramaphosa invited 67 leaders from across Africa, Latin America, the Middle East, Asia and the Caribbean to attend the summit, but no Western leaders received an invitation. watch nowBilateral deals and cooperation is common among BRICS members, but de Carvalho challenged the idea that there is a unanimous desire to compete with the G7. He added that the BRICS members do not always agree and do not see the group as a "panacea," but simply a "vehicle to become more influential in global discussions." "The G7 contains the rich Western economies, while BRICS contains the two most populous countries and the leading countries on three continents.

Persons: Michele Spatari, Cyril Ramaphosa, Xi Jinping, Luiz Inácio Lula da Silva, Narendra Modi, Sergei Lavrov, Vladimir Putin, Putin, Ramaphosa, Gustavo de Carvalho, de Carvalho, Lula, BRICS, It's, it's, Steven Gruzd, Gruzd Organizations: Bloomberg, Getty, West, South, Indian, Russian, International, Court, ICC, Western, African Union Commission, New Development Bank, South African Institute of International Affairs, CNBC Locations: Sandton, Johannesburg, South Africa, Ukraine, Africa, Latin America, East, Asia, Caribbean, Nigeria, Saudi Arabia, Iran, UAE, Argentina, Indonesia, Egypt, Ethiopia, Ghana, India, BRICS, Russia, Brazil, China

☆ BRICS expansion hopefuls seek to rebalance world order
▼ + stars: | 2023-08-21 | by ( Joe Bavier | ) www.reuters.com time to read: +6 min

[1/6] People walk past the Sandton Convention Centre, which will host the upcoming BRICS Summit, in Johannesburg, South Africa August 19, 2023. The wealthy West's domination of international bodies, such as the United Nations, the International Monetary Fund or the World Bank. DEVELOPING WORLD DISCONTENTWhile BRICS has not divulged a full list of expansion candidates, a number of governments have publicly stated their interest. Others want changes at the World Trade Organization, International Monetary Fund and World Bank. Its BRICS trade has indeed increased steadily since it joined, according to an analysis by the country's Industrial Development Corporation.

Persons: James Oatway, Rob Davies, South, bode, Vladimir Putin, Steven Gruzd, BRICS, Ramón Lobo, Gruzd, Lucinda Elliott, Deisy, Yousef Saba, Gustavo Palencia, Lamine Chikhi, Ahmed Eljechtimi, Tomasz Janowski Organizations: Sandton, REUTERS, United Nations, International Monetary Fund, World Bank, BRICS, Observers, South African Institute of International Affairs, U.S ., Reuters, United, Emirates, World Trade Organization, Argentine, New Development Bank, Russia, Industrial Development Corporation, South, Thomson Locations: Johannesburg, South Africa, JOHANNESBURG, Iran, Argentina, Brazil, Russia, India, China, Ukraine, Venezuela, Gulf, Saudi Arabia, Ethiopia, Nigeria, United Nations, United States, Montevideo, Caracas, Dubai, Tegucigalpa, Lamine, Algiers, Rabat

Arm's sales fell to $2.68 billion in the 12 months ended March 31, hurt by a slump in global smartphone shipments, the source said, requesting anonymity. In May, SoftBank reported that revenue for the year at Arm had grown 5.7% under International Financial Reporting Standards. Arm will disclose its latest financials next week under the U.S. accounting standards, the source added. Reuters had previously reported that SoftBank was aiming to list Arm at a valuation of $60 billion to $70 billion in the IPO. Arm's IPO preparations are being led by Goldman Sachs Group (GS.N), JPMorgan Chase (JPM.N), Barclays Plc (BARC.L) and Mizuho Financial Group.

Persons: SoftBank, Goldman Sachs, JPMorgan Chase, Arm's financials, Anirban Sen, Manya, Shinjini Organizations: Nasdaq, Reuters, Vision Fund, Goldman, JPMorgan, Barclays Plc, Mizuho Financial Group, Bloomberg News, Manya Saini, Thomson Locations: New York, Bengaluru

☆ Russia's inflation spike sets Kremlin and central bank on collision course
▼ + stars: | 2023-08-17 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

Russia's President Vladimir Putin (L) and Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky\TASS via Getty ImagesRussia's rising inflation and plunging currency have spotlighted an emerging discord between the Kremlin and the country's central bank. Analysts suggested the government's direct strong-arming of the central bank into monetary policy action was a sign of the problems faced by the country's economy. In other words, the Russian currency has entered a vicious circle that it will struggle to escape from." This is because the negative factors behind the weakening currency are largely outside the control of the Central Bank of Russia." She added that blaming the central bank has therefore become an "easy tactic" for the Kremlin in the absence of any tangible options through which to improve the situation.

Persons: Vladimir Putin, Russian Central Bank Governor Elvira Nabiullina Alexei Nikolsky, Vladimir Putin's, Maxim Oreshkin, Anatoly Aksakov, Agathe Demarais, Demarais, Stephanie Kennedy, Julius Baer, Kennedy Organizations: Russian Central Bank Governor, Getty, Kremlin, Central Bank of Russia, Bank, Bank of Russia, Financial, Bank of, Economist Intelligence Unit, CNBC, CBR, U.S . Locations: Russia, Bank of Russia, Ukraine

☆ Russia strikes Ukraine's Danube port, sending global grain prices higher
▼ + stars: | 2023-08-02 | by ( Pavel Polityuk | ) www.reuters.com time to read: +5 min

Ukraine's defence ministry said a grain silo was damaged in the Danube port of Izmail in the Odesa region: "Ukrainian grain has the potential to feed millions of people worldwide," the ministry wrote on messaging platform X, formerly known as Twitter. Russian terrorists have once again attacked ports, grain, global food security." "The enemy... is trying to destroy Ukrainian grain, attacking industrial and port infrastructure. Ukrainian officials have said Moscow has hit 26 port facilities, five civilian vessels and 180,000 tonnes of grain in nine days of strikes since quitting the grain deal. Ukraine's Air Force reported that Russia also launched a drone attack on Kyiv and the surrounding region overnight.

Persons: Oleh Kiper, Kiper, Volodymyr Zelenskiy, Izmail, Ukraine's, Serhiy Bratchuk, Pavel Polityuk, Jacqueline Wong, Tom Hogue, Simon Cameron, Moore, Peter Graff Organizations: REUTERS, Ukrainian Volunteer Army, United Nations, Ukraine's Air Force, Air, Thomson Locations: Russian, Ukraine, Odesa, REUTERS KYIV, Russia, Romania, Moscow, reimpose, Izmail, NATO, Ukraine's, Chicago, Constanta, Turkey, Kyiv

☆ Treasury Secretary Yellen says surprising Fitch downgrade is 'entirely unwarranted'
▼ + stars: | 2023-08-02 | by ( Chelsey Cox | ) www.cnbc.com time to read: +1 min

Treasury Secretary Janet Yellen testifies before the House Financial Services Committee on the state of the international financial system, in the Rayburn House Office Building on Capitol Hill in Washington, DC on June 13, 2023. WASHINGTON — Treasury Secretary Janet Yellen on Wednesday denounced Fitch's decision to downgrade the United States' longstanding credit rating that caused stocks to tumble. Yellen, who spoke during a visit with Danny Werfel, commissioner of the IRS, called the move "surprising" considering the nation's strong economic recovery from the Covid pandemic. Fitch cited "expected fiscal deterioration over the next three years," and "repeated debt-limit political standoffs" when it downgraded the nation's rating to AA+ from AAA. "I strongly disagree with Fitch's decision, and I believe it is entirely unwarranted," Yellen said.

Persons: Janet Yellen, Fitch's, Danny Werfel, Fitch, Yellen, we've Organizations: Financial, WASHINGTON —, AAA, CNBC Locations: Rayburn, Washington , DC, States

☆ India lets firms list on Modi's flagship finance hub to draw foreign capital
▼ + stars: | 2023-07-29 | by ( ) www.reuters.com time to read: +1 min

Listed and unlisted companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT), which is Prime Minister Narendra Modi's flagship project. "I'm pleased to announce that the government has taken a decision to enable direct listing of listed and unlisted companies on the IFSC exchanges," Sitharaman said. Indian companies can currently only list on foreign exchanges through instruments such as depository receipts. The government had announced plans in 2020 to allow firms to have their primary listings on foreign exchanges. The government has said companies can use the IFSC route to access similar benefits of foreign capital.

Persons: Nirmala Sitharaman, Narendra Modi's, I'm, Sitharaman, Manch, Aftab Ahmed, Muralikumar Organizations: International Financial Services, Gujarat International Financial Tech City, Singapore, International Exchange, Thomson Locations: DELHI, India, Gujarat, Singapore, City, New Delhi

☆ Even a Russian-cofounded bank can't fund new projects in the country — and it shows just how financially isolated the country is
▼ + stars: | 2023-07-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

"Any speculations concerning the discussion of new operations of the NDB in Russia are unfounded," the development bank said in a Wednesday statement. The Shanghai-headquartered NDB was founded in 2015 by the "BRICS" nations — that's Brazil, Russia, India, China, and South Africa. She said the bank is not considering new projects in Russia as it operates in compliance with international financial and capital restrictions. On Wednesday, she also met with Russian President Vladimir Putin, the Kremlin said in a statement. Mere days after it invaded Ukraine, some Russian banks were banned from SWIFT, the Belgium-based messaging service that lets banks globally communicate about cross-border transactions.

Persons: —, Dilma Rousseff, Rousseff, Vladimir Putin, Putin Organizations: New Development Bank, Twitter, Kremlin, SWIFT Locations: Russia, Shanghai, Brazil, India, China, South Africa, Russian, St, Petersburg, Ukraine, Belgium

☆ US willing to take 'targeted' actions against China for national security, Treasury official says
▼ + stars: | 2023-07-26 | by ( ) www.reuters.com time to read: +4 min

"When necessary, we will use a suite of tools to achieve our national security goals. It is our core mission to protect the American people from national security risks while also clearly communicating our position and intent to China to reduce the risk of misunderstanding," said Shambaugh, who heads Treasury's international affairs. The Biden administration is weighing new restrictions on outbound private investment into China and other countries of concern. "To be clear: neither targeted national security actions nor attempts to build diversified supply chains represent decoupling," Shambaugh said in the prepared remarks. He said the Treasury also has been troubled by China's recent punitive actions against U.S. firms and export controls on critical minerals for semiconductors.

Persons: Jay Shambaugh, Biden, Shambaugh, Janet Yellen, David Lawder, Paul Simao Organizations: . Treasury, U.S . Senate Foreign Relations, U.S, U.S . Treasury, Treasury, International Monetary Fund, World Bank, Thomson Locations: China, U.S, Beijing, Zambia, Ghana, Sri Lanka

☆ Stock Exchange Regulators Back Global Climate-Reporting Rules
▼ + stars: | 2023-07-25 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +5 min

Regulators of the world’s top stock exchanges gave their backing to the international climate-reporting standards framework Tuesday, adding momentum to efforts to establish the rules as the global baseline. The International Organization of Securities Commissions, known as Iosco, endorsed the International Sustainability Standards Board’s recently published climate reporting standard. While some businesses may be waiting to see the completed SEC climate reporting rules, it hopes the advantages of using a single standard worldwide outweigh any disadvantages of being more demanding than the SEC’s coming climate reporting rules. PREVIEWIt is now up to individual countries and jurisdictions to decide if and when they adopt the ISSB standards. “This is a hugely significant step towards a global baseline of sustainability reporting.

Persons: —, Jean, Paul Servais, Benoit Doppagne, “ Iosco, ”, Larry Bradley, Iosco, PwC, KPMG’s Bradley, “, Rochelle Toplensky Organizations: International Organization of Securities Commissions, International, U.S . Commodity Futures Trading Commission, Securities, Exchange, Zuma, SEC, U.S, EU, KPMG, Sustainable Business, Rochelle Locations: Japan, China, Britain, U.S, Australia, Canada, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow

Mugabe’s successor, Emmerson Mnangagwa, had promised sweeping political, economic and social reforms. Several opposition activists, journalists and human rights activists have been arrested over the last year, including Job Sikhala, a Parliament member and senior official with the CCC. Obey Shava, a prominent Zimbabwean human rights lawyer who has represented various opposition party supporters facing questionable charges, was violently attacked earlier this month. Human rights group Amnesty International called it a “brutal assault on civic space.”At the same time, government corruption remains a problem in Zimbabwe. Mnangagwa has blamed Western sanctions for the current economic crisis in Zimbabwe, where the annual inflation rate reached 175% in June.

Persons: Robert Mugabe, Zimbabwe’s, Mugabe’s, Emmerson Mnangagwa, “, ”, Joe Biden, ” Biden, Nelson Chamisa, Job Sikhala, Obey, Bill –, Bill, Al Jazee, Mugabe, Morgan Tsvangirai, Mnangagwa, Macky Sall, Felix Tshisekedi, Stephen Chan, ” Chan, Ruben Mbofana, –, Mbofana, Leonard Koni, Kudakwashe Regimond Tagwirei, Emmerson Mnangagwa Jr, ” Koni Organizations: U.S . Congress, “, ZANU, Citizens Coalition, Amnesty, Movement, Democratic, Mugabe, U.S, Congress, Zimbabwe Democracy, ., U.S . Treasury, Union, Reuters, SOAS University of London Locations: MUTARE, Zimbabwe, Mutare, Rhodesia, U.S, United Kingdom, Canada, Australia, Senegal

☆ 3 reasons countries around the world want to break up with the dollar
▼ + stars: | 2023-07-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +6 min

The US dollar has been the world's reserve currency for decades, but its dominance is fading. US monetary policies, the strong USD, and structural shift in the global oil trade also contribute. Here are three other reasons countries around the world are attempting to line up plans to possibly move away from a dollar-dominated world. The arrangement was formalized in 1945 when the oil-giant country Saudi Arabia and the US reached a historic deal wherein Saudi Arabia would sell its oil to America only using the greenback. In return, Saudi Arabia would reinvest excess dollar reserves into US treasuries and companies.

Persons: Valéry Giscard d'Estaing, —, Narendra Modi's, Luiz Inácio Lula da Silva, It's, Donald Trump, wasn't, Joe Biden, Prince Mohammed bin Salman, Jamal Khashoggi, Sarah Miller Organizations: Service, International Monetary Fund, Wilson, Reserve Bank of, Indian, Reuters, Allianz, Global, US, Washington Post, Energy Intelligence Locations: Russia, Wall, Silicon, Western, Ukraine, Washington, Brazil, Argentina, Bangladesh, India, France, Reserve Bank of India, China, South Africa, Saudi Arabia, America, Saudi

☆ Hong Kong's golfers gird up for battle as housing policy threatens famed course
▼ + stars: | 2023-07-21 | by ( Clare Jim | ) www.reuters.com time to read: +7 min

[1/2] Miguel Angel Jimenez from Spain hits a shot on the 18th fairway during the final day of the Hong Kong Open Championship at the Hong Kong Golf Club in Hong Kong, China November 18, 2012. The rare measure drew criticism from NGOs who questioned whether the golf course would be redeveloped as planned by 2029. Three of these courses are in the Fanling golf course located close to the border with mainland China. "If you see the aggressiveness of the branding by other countries, Hong Kong is really under the gun. "The (Hong Kong) government absolutely should not allow populism and antagonism against the wealthy to spread," Tong said.

Persons: Miguel Angel Jimenez, Tyrone Siu, Hong Kong's, John Lee, Lee, Simon Yau, Sze Lai Shan, LIV Golf, Amr El Henawy, El Henawy, Ronny Tong, Tong, Clare Jim, Justin Fung, Anne Marie Roantree Organizations: Hong Kong, Hong Kong Golf Club, REUTERS, Hong, Urban Studies, Lingnan University of Hong, Development Bureau, Reuters, Town, Society of Community Organization, HIT, HONG, UNESCO, Pacific Cultural Heritage, Team, Thomson Locations: Spain, Hong Kong, China, Tyrone Siu HONG KONG, Lingnan University of Hong Kong, HONG KONG, Asia, Saudi

NEW DELHI, July 13 (Reuters) - Global finance chiefs will meet in India next week to discuss increasing loans to developing nations from multilateral institutions, reforming the international debt architecture and regulations on cryptocurrency, Indian officials said. The finance ministers and central bank governors from the Group of 20 (G20) nations will also discuss a multilateral agreement on taxing conglomerates with cross-border operations, while the Russian war in Ukraine was also bound to come up, they said. Senior treasury officials from Russia and China are also expected to attend, according to two Indian officials, who did not want to be named. The finance ministers and treasury heads will also attempt to bring agreement on the principles of managing cryptocurrencies in their respective geographies. Additional reporting by Maria Martinez and Leigh Thomas; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Ajay Banga, Kristalina Georgieva, Lawrence Summers, N.K, Singh, Ajay Seth, Maria Martinez, Leigh Thomas, Raju Gopalakrishnan Organizations: Global, Treasury, International Monetary Fund's, Economic, IMF, Organisation for Economic Co, Development, OECD, Thomson Locations: DELHI, India, Ukraine, Gandhinagar, Gujarat, New Delhi, U.S, Russia, China, Zambia, Ghana

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