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☆ Hungary needs to change the EU, not leave it, Orban says
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +2 min

Orban again reiterated his government's opposition to starting talks with Ukraine about its accession to the EU. "Correcting the mistaken promise (by Brussels) to start talks (with Ukraine about EU membership) will also be our task, as Ukraine is light years away from the EU now," Orban said, adding that he would fight off attempts by the EU to settle migrants in Hungary. Ukraine, which applied to join the EU days after Russia's invasion in February 2022, sees membership as a top priority. The question of starting accession talks with the country will be on the agenda at an EU summit next month. With Hungary clambering out of an inflation crisis, nationalist Orban has this week started campaigning heavily for European parliamentary elections due next June.

Persons: Victor Orban, Johanna Geron, Viktor Orban, Orban, Krisztina, Kirsten Donovan, Mike Harrison Organizations: European Union, of, Caribbean, REUTERS, Rights, Fidesz, Ukraine, EU, Hungary, Thomson Locations: Caribbean States, Brussels, Belgium, Hungary, Europe, Ukraine, Kyiv

[1/5] Formula One F1 - Las Vegas Grand Prix - Las Vegas Strip Circuit, Las Vegas, Nevada, U.S - November 18, 2023 Ferrari's Charles Leclerc celebrates after qualifying in pole position REUTERS/Finn Blake Acquire Licensing RightsSummaryCompanies Ferrari first and second in Las Vegas qualifyingLeclerc on pole but penalty drops Sainz 10 placesVerstappen to start on front row for Red BullWilliams in surprise third row sweep, McLaren struggleLAS VEGAS, Nov 18 (Reuters) - Charles Leclerc put Ferrari on pole position for the inaugural Las Vegas Grand Prix on Saturday with Red Bull's triple Formula One world champion Max Verstappen stepping up to join him on the front row. Leclerc was fastest in all three qualifying phases down the floodlit Strip, with its neon backdrop of landmark hotels and casinos, for his third pole in the last four races. The Monaco driver was still disappointed with his laps, and a pole time of one minute 32.726 seconds only half a tenth faster than Sainz. Red Bull's Sergio Perez, who can clinch second place overall in the championship this weekend, will start 11th as Sainz drops to 12th. Qualifying started at midnight on Friday, making Las Vegas the first grand prix since Japan in 2019 where the pole position was decided on the same day as the race.

Persons: Ferrari's Charles Leclerc, Finn Blake, Ferrari, Leclerc, Verstappen, Red Bull Williams, Charles Leclerc, Max Verstappen, Ferrari's Carlos Sainz, Sainz, George Russell, Pierre Gasly, Williams, Alex Albon, Logan Sargeant, Valtteri Bottas, Alfa Romeo, Kevin Magnussen, Haas, Fernando Alonso, Aston Martin, Mercedes, Lewis Hamilton, Red Bull's Sergio Perez, MCLARENS, McLarens, Britain's Lando Norris, Oscar Piastri, Aston, Lance, Zak Brown, Alpine's Esteban Ocon, Frenchman, Ocon, Alan Baldwin, Kirsten Donovan, Hugh Lawson Organizations: Las Vegas, Las Vegas Strip, Sainz, McLaren, LAS VEGAS, Monaco, Mercedes, Alfa, U.S, Aston, Sky Sports, Verstappen, Thomson Locations: Las Vegas , Nevada, U.S, Sin City, Dutch, Japan, London

☆ India grants incentives for Dell, HP, Foxconn to make IT hardware locally
▼ + stars: | 2023-11-18 | by ( ) www.reuters.com time to read: +1 min

3D printed clouds and figurines are seen in front of the Dell logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsMUMBAI, Nov 18 (Reuters) - The Indian government has approved investments by 27 companies including Dell (DELL.N), HP (HPQ.N) and Foxconn (2317.TW) under its $2 billion incentive scheme to manufacture IT hardware domestically. Information technology minister Ashwini Vaishnaw said the companies are expected to invest 30 billion Indian rupees ($360 million) collectively, while creating 50,000 jobs in the sector. Approvals have also been granted to domestic manufacturers including Dixon Technologies (DIXO.NS) and VVDN, the minister said. The government had in May doubled the value of the incentive scheme to spur domestic production of laptops and tablets, following a lukewarm response to a previous programme.

Persons: Dado Ruvic, Ashwini Vaishnaw, Munsif Vengattil, Ira Dugal, Kirsten Donovan Organizations: Dell, REUTERS, Rights, HP, Dixon Technologies, Thomson Locations: Rights MUMBAI

☆ Fewer shoppers in Burberry stores complicates design overhaul
▼ + stars: | 2023-11-17 | by ( Mimosa Spencer | ) www.reuters.com time to read: +5 min

With fewer shoppers heading to Burberry stores, clinching a sale will be key. The label has filled its stores with new styles across a wider price range, including a renewed emphasis on its staple outerwear. At Burberry he has applied colourful dandelion prints to garments and rolled out advertising campaigns with fuzzy ducklings. "We like what Burberry is doing with product and range architecture, however, the timing is not ideal," said analysts at RBC. Burberry Chief Financial Officer Kate Ferry said the company was "absolutely committed to protecting all of the consumer-facing areas".

Persons: Daniel Lee's, Jonathan Akeroyd, Akeroyd, Riccardo Tisci, Lee, Tisci, Marco Gobbetti, Kering, LVMH, Louis Vuitton's womenswear, Nicolas Ghesquiere, Kate Ferry, Mimosa Spencer, Paul Sandle, Kirsten Donovan Organizations: Burberry, Shoppers, JPMorgan, Bond, Bottega, RBC, Gucci, Citi, Thomson Locations: United States, Europe, China, Los Angeles, Dallas, Houston, Omotesando, Tokyo, London

☆ Vale Canada, Sumitomo Metal sign initial deal to sell 14% stake in Indonesian nickel miner
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ritsuko Shimizu/File Photo Acquire Licensing RightsJAKARTA, Nov 17 (Reuters) - Mining company Vale Base Metals said its unit Vale Canada Ltd and Japan's Sumitomo Metal Mining Co. Ltd signed an initial agreement on Friday to sell a 14% stake in their Indonesian nickel mining unit to Indonesia's state miner. Share divestment is a condition required by Indonesia to extend Vale Indonesia's mining permit, which is currently due to end in 2025. Upon completion, MIND ID will become the largest shareholder of Vale Indonesia with 34% of shares, up from 20%. Around 20% of Vale Indonesia's shares are publicly traded. Vale Base Metals is committing around $10 billion of investment in Indonesia over the next decade.

Persons: Ritsuko Shimizu, Deshnee Naidoo, Fransiska Nangoy, Kirsten Donovan Organizations: Sumitomo Metal Mining, REUTERS, Rights, Base Metals, Vale Canada, Japan's Sumitomo Metal Mining Co . Ltd, Vale, Sumitomo, Mineral Industri, Vale Base Metals, Thomson Locations: Tokyo, Japan, Rights JAKARTA, Vale Canada, Mineral Industri Indonesia, Indonesia, Vale Indonesia, Indonesian

"Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. "The world's richest countries need to work with the multilateral development banks to find effective, structural ways to channel significantly scaled up energy transition finance," he said. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, COP27, REK, Renaud, Leo Roberts, E3G, Kate Abnett, Kirsten Donovan, Louise Heavens Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Climate Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Pakistan, Colombia, Ukraine

[1/2] A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Cooler-than-expected U.S. inflation data on Tuesday and Wednesday reset market expectations for how soon the Federal Reserve will cut rates and weighed on the dollar. The greenback is poised for its biggest weekly drop since July, down 1.6% over the past five days, and second-biggest decline this year. Data that showed U.S. single-family homebuilding increased marginally in October briefly supported the dollar, but with inflation the main market driver it remained lower on the day. The euro was up 0.17% at $1.0868 after Eurostat data confirmed year-on-year inflation in the euro zone slowed sharply in October.

Persons: Marcos Brindicci, Bipan Rai, Thierry Wizman, Wizman, Lee Hardman, Robert Holzmann, Joachim Nagel, Christine Lagarde, Herbert Lash, Iain Withers, Rae Wee, Tom Westbrook, Mark Potter, Kirsten Donovan Organizations: REUTERS, Federal Reserve, CIBC Capital Markets, FX, Eurostat, European Central Bank, Thomson Locations: Buenos Aires, Argentina, North America, Toronto, United States, Macquarie, New York, Britain, London, Singapore

The deal, which is expected to be announced at the COP28 climate talks in Dubai beginning on Nov. 30, will lay out a plan to close the country's two coal power plants and replace them with 1.7 gigawatts of renewable energy. "Coal in North Macedonia represents 40% of the energy source, so it's very big, it's very important," EBRD President Odile Renaud-Basso told Reuters. Both of its coal-fired plants are ageing, outdated and run on lignite, the most polluting type of coal. An IFC spokesperson said the green transition, including in North Macedonia, was one of its key priorities, but that it was not in a position to confirm any plan details. North Macedonia joined the Powering Past Coal Alliance, a group of countries committed to phasing out coal-fired power, in 2021.

Persons: Odile Renaud, Basso, REK, Renaud, Kate Abnett, Kirsten Donovan Organizations: European Bank for Reconstruction, World Bank, Reuters, Investment, United Nations, Investment Funds, International Finance Corporation, IFC, Bank, Past Coal Alliance, Union, Thomson Locations: Dubai, wean, Macedonia, North Macedonia, South Africa, Indonesia, Vietnam, Senegal, North, Skopje, Europe, Macedonian, Ukraine

☆ ECB hawks push back on early rate cut bets
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +3 min

"It would be unwise to start cutting interest rates too soon," Bundesbank President Joachim Nagel said in a speech. Austria's Robert Holzmann was even more explicit, arguing that the second quarter was simply too soon for a rate cut. Asked if he ruled out an interest rate cut in the second quarter of next year, he said: "That would be a bit early." The ECB held rates unchanged in October, snapping a streak to ten straight rate hikes, fuelling market bets that its record-breaking tightening streak is now over and the next move is a cut. Instead of easing policy, the ECB should tighten further, Wunsch argued, by ending early its bond purchases in the 1.7 trillion euro Pandemic Emergency Purchase Programme.

Persons: Joachim Nagel, Ann Saphir, Robert Holzmann, Holzmann, Pierre Wunsch, Wunsch, Nagel, Balazs Koranyi, Francois Murphy, Kirsten Donovan, Andrew Heavens Organizations: European Central Bank policymaker, Kansas City Fed, REUTERS, European Central Bank, ECB, Thomson Locations: Jackson, Jackson Hole , Wyoming, FRANKFURT, VIENNA, Belgian

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsROME, Nov 15 (Reuters) - Italy's Leonardo (LDOF.MI) is trimming its stake in U.S. unit DRS (DRS.O) as new CEO Roberto Cingolani looks to expand the state-controlled group with major roles in European defence projects. Two sources at Leonardo confirmed that the DRS deal was part of that strategy. Cingolani, a former government minister who became CEO in May, has embraced the need to create broader European alliances to take advantage of rising defence budgets. It has pointed to its cross-border MBDA European missile company joint venture with Airbus (AIR.PA) and BAE Systems (BAES.L) as a model for the projects. Some analysts expressed surprise that the company was reducing its stake in DRS, acquired 15 years ago in a $5.2 billion deal when the Italian group was known as Finmeccanica.

Persons: Leonardo, Dado Ruvic, Roberto Cingolani, Cingolani, Intesa Sanpaolo, Leonardo's, Nick Cunningham, Giulia Segreti, Armellini, Kirsten Donovan Organizations: REUTERS, Rights, DRS, Global Combat Air, Leopard, Airbus, BAE Systems, Agency Partners, Thomson Locations: U.S, East, Europe, Italy, Britain, Japan, Leonardo's Milan, Italian, Rome

The logo of Renault is seen at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France, June 15, 2023. The group set out financial targets for the unit, including revenue of 25 billion euros in 2031, break-even in 2025 and an operating margin of at least 10% from 2030, ahead of an investor day in Paris. Sources close to the matter told Reuters last month the company was unlikely to go ahead with the IPO if the overall valuation for Ampere fell below 7 billion euros. We will reduce our costs to lower our prices, while improving our margins at the same time," finance chief Thierry Pieton said. ($1 = 0.9195 euros)Reporting by Gilles Guillaume, writing by Silvia Aloisi; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Gonzalo Fuentes, Ampere, Luca de Meo's, De Meo, Thierry Pieton, Gilles Guillaume, Silvia Aloisi, Kirsten Donovan Organizations: Renault, Viva Technology, Porte de, REUTERS, Ampere, Reuters, Twingo, Thomson Locations: Porte, Paris, France, PARIS, Europe

☆ Britain's Ocado secures first deal beyond grocery retail
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

An Ocado grocery delivery van is driven along a street in London, Britain, March 25, 2023. It also holds a 50% share of Ocado Retail in the UK in a joint venture with Marks & Spencer (MKS.L). The deal with McKesson will see Ocado receive upfront fees during the construction process with the final payment upon final installation. Ocado said the impact of the deal will be minimal on cash flow and earnings in its current financial year. In July, the group reported a return to first half underlying profit.

Persons: Toby Melville, Canada Ocado, McKesson, Tim Steiner, we're, Spencer, Ocado, James Davey, Prerna Bedi, Shilpi Majumdar, Kirsten Donovan, Barbara Lewis Organizations: REUTERS, Kroger, Casino, Marks, Times, Thomson Locations: London, Britain, Canada, Ocado, United States, Japan, France, U.S, Bengaluru

Adobe logo is seen on smartphone in this illustration taken June 13, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsCompanies Adobe Inc FollowBRUSSELS, Nov 15 (Reuters) - Photoshop maker Adobe (ADBE.O) expects to get an EU antitrust warning on its $20 billion bid for cloud-based designer platform Figma and is open to proposing remedies to resolve regulatory concerns, its chief counsel told Reuters on Wednesday. The Adobe deal comes amid heightened regulatory scrutiny around the world on Big Tech acquisitions which boost dominant companies' market power or those involving start-ups seen as nascent rivals. "We are expecting a statement of objections from the European Commission," Dana Rao said in an interview, confirming a Reuters story on Tuesday. "We are certainly open to the discussion of remedies.

Persons: Dado Ruvic, Dana Rao, Rao, Foo Yun Chee, Kirsten Donovan Organizations: REUTERS, Inc, Adobe, Big Tech, European Commission, Thomson Locations: EU

☆ African online retailer Jumia's Q3 losses narrow with further fall expected
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.

Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG

☆ UniCredit CEO Orcel's 'bank of Europe' ambition tough to realise
▼ + stars: | 2023-11-14 | by ( Valentina Za | ) www.reuters.com time to read: +6 min

However, his aspirations to make UniCredit the "bank of Europe" are proving trickier to realise with the CEO setting a high bar for mergers and acquisitions in the euro zone's fractured capital markets, despite having what he describes as the biggest war chest among European lenders. UniCredit bought Greece's 9% stake in Alpha Bank (ACBr.AT) and struck a commercial partnership with the Athens-based lender, also acquiring most of its Romanian operations. The CEO works closely with a small M&A team he set up within UniCredit which constantly reviews potential deals in the markets and businesses where the bank operates, people with knowledge of the matter said. But uneven regulation across the euro zone, where progress towards a single banking market has stalled, complicates cross-border deals. Calling on Europe to follow his lead, Orcel says he has unlocked UniCredit's potential by giving it a unified strategy across its 13 markets.

Persons: Andrea Orcel, Merrill Lynch, Orcel, He's, Cole Smead, ALPHA Orcel, Siena, UniCredit, Smead, Jean, Pierre Mustier's, Mustier, it's, Carlo Franchini, Danilo Masoni, Kirsten Donovan Organizations: Discount, MILAN, UBS, Smead Capital Management, Fund, ALPHA, Banco, Alpha Bank, Alpha, Banca Ifigest, Thomson Locations: buybacks, Europe, Arizona, Ukraine, Athens, HVB, Berlin, Milan

☆ Germany set to double Ukraine military aid
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

German Chancellor Olaf Scholz delivers a speech on the day of the opening of an electrolysis gigafactory in Berlin, Germany November 8, 2023. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German chancellor Olaf Scholz's governing coalition has agreed in principle to double the country's military aid for Ukraine next year to 8 billion euros ($8.5 billion), a political source in Berlin said on Sunday. Defence minister Boris Pistorius, interviewed by broadcaster ARD, referred to the planned doubling of military aid to Ukraine. "Doubling the military spending is both the right thing to do and important," it quoted member of parliament Andreas Schwarz, who acts as an SPD military budget official, as saying. A European Union plan to spend up to 20 billion euros ($21 billion) on military aid for Ukraine is meeting with resistance from EU countries, diplomats said this week.

Persons: Olaf Scholz, Annegret, Olaf Scholz's, Boris Pistorius, Andreas Schwarz, Gursimran Kaur, Holger Hansen, Vera Eckert, David Gregorio, Kirsten Donovan, Giles Elgood Organizations: REUTERS, Rights, Atlantic Treaty Organization, Scholz's Social Democrats, Free Democrats, Green, Bundestag, Bloomberg News, Germany's Ministry of Defence, ARD, Thomson Locations: Berlin, Germany, Ukraine, Bengaluru, Frankfurt

☆ Tens of thousands protest across Spain at proposed Catalan amnesty
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

MADRID, Nov 12 (Reuters) - Tens of thousands of people protested across Spain on Sunday against acting prime minister Pedro Sanchez's plans to grant amnesty to Catalan separatists in exchange for support for another term in office. The government secured a deal with Catalan separatist party Junts on Thursday which includes passing a contentious law granting amnesty to those convicted over Catalonia's attempt to secede from Spain in 2017. "He (Sanchez) has betrayed coexistence, democracy...he can't keep governing," said banker Tomas Perez, 38, holding a sign reading "Sanchez traitor". After an inconclusive July 23 election, the Socialists spent weeks negotiating with smaller parties including far-left platform Sumar and Catalan, Galician and Basque nationalist parties. Reporting by Miguel Gutierrez and Guillermo Martinez; Writing by Jessica Jones; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Pedro Sanchez's, Junts, Alberto Nunez Feijoo, Puerta, amnesties, Catalonia's, Sanchez, Tomas Perez, Inmaculada Herranz Castro, Miguel Gutierrez, Guillermo Martinez, Jessica Jones, Kirsten Donovan Organizations: People's Party, Authorities, Popular Party, Spain's, Socialists, Basque Nationalist Party, Thomson Locations: MADRID, Spain, Sol, Madrid, Spanish, EU, Barcelona, Granada, Seville, Malaga, Palma, Valencia, Galician, Basque

☆ Gulf bourses mixed as China pessimism offsets higher oil prices
▼ + stars: | 2023-11-12 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/ File Photo Acquire Licensing RightsNov 12 (Reuters) - Gulf stock markets put in a mixed performance on Sunday as higher oil prices were offset by worries of faltering demand from China, the world's top crude importer. Oil prices - a major driver of Gulf financial markets - rose about 2% on Friday as Iraq voiced support for OPEC+ oil cuts ahead of a meeting of the group on Nov. 26. The retailer reported a third-quarter net loss of 202.9 million riyals ($54.1 million) compared to a net profit of 21.1 million riyals a year earlier. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 1.7%, with Commercial International Bank (COMI.CA) down 2.5% and Misr Fertilizer (MFPC.CA) losing 4.6%. However, Credit Agricole Egypt (CIEB.CA) gained 3.7% as the lender reported a 121% jump in third quarter consolidated net profit.

Persons: Joe Biden, Hamad I Mohammed, Brent, Masraf Al Rayan, Fawaz Abdulaziz Alhokair Co, Md Manzer Hussain, Kirsten Donovan Organizations: Bahrain Bourse, U.S, REUTERS, OPEC, Qatar, Saudi Telecom, Human Resources, Commercial International Bank, Misr, Agricole Egypt, Thomson Locations: Bahrain, Manama, China, Iraq, Saudi

☆ Germany's Scholz backs Spain's Calvino for EIB presidency
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Susana Vera/ File Photo Acquire Licensing RightsFRANKFURT, Nov 11 (Reuters) - German Chancellor Olaf Scholz on Saturday backed the candidacy of Spanish acting Economy Minister Nadia Calvino for the post of president of the European Investment Bank (EIB). "I think she will be a very good president of the EIB," Scholz said in an address to a weekend congress of the Party of European Socialists (PES) in Malaga, Spain. He added that they had worked well together in the past when they headed their respective countries' finance ministries. The EIB is currently led by German Liberal Democratic Party (FDP) politician Werner Hoyer. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Nadia Calvino, Susana Vera, Olaf Scholz, Scholz, Werner Hoyer, Andreas Rinke, Vera Eckert, Kirsten Donovan Organizations: Monetary, Financial, International Monetary Fund, World Bank, REUTERS, Rights, Saturday, European Investment Bank, Party of European Socialists, European Union, Berlin, German Liberal Democratic Party, Thomson, Reuters Locations: Marrakech, Morocco, Malaga, Spain, Germany, France

☆ In very rare move, Pope dismisses conservative US bishop Strickland
▼ + stars: | 2023-11-11 | by ( Philip Pullella | ) www.reuters.com time to read: +1 min

VATICAN CITY, Nov 11 (Reuters) - Pope Francis has dismissed Bishop Joseph E. Strickland of Tyler, Texas, one of his fiercest critics among U.S. Catholic conservatives, a Vatican statement said on Saturday. It is very rare for a Roman Catholic bishop to be relieved of his duties outright. Usually bishops in trouble with the Vatican are asked to resign before submitting a resignation, which the pope accepts. Popes make such moves, considered drastic, when a bishop refuses a request to resign. Francis named the bishop of Austin, Texas, Joe Vasquez, as the interim administrator of the diocese, the statement said.

Persons: Pope Francis, Bishop Joseph E . Strickland, Strickland, Francis, Joe Vasquez, Phil Pullella, Alvise Armellini, Kirsten Donovan Organizations: CITY, U.S, Roman, Vatican, Bishops Conference, Thomson Locations: Tyler , Texas, Tyler, Austin , Texas

☆ Turkey calls for international conference to reach permanent peace in Middle East
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +3 min

Turkey's President Tayyip Erdogan arrives to attend Organisation of Islamic Cooperation (OIC) summit in Riyadh, Saudi Arabia, November, 11, 2023. Saudi Press Agency/Handout via REUTERS Acquire Licensing RightsANKARA, Nov 11 (Reuters) - Turkey's President Tayyip Erdogan said on Saturday that an international peace conference should be convened to find a permanent solution to the conflict between Israel and the Palestinians. Erdogan was addressing a joint Islamic-Arab summit in Saudi Arabia's capital Riyadh, where leaders gathered to urge Israel to end hostilities in Gaza. A permanent solution to the conflict between Israel and Palestinians depends on the formation of a Palestinian state based on 1967 borders, Erdogan said. "We believe that an international peace conference will provide the most suitable basis for this.

Persons: Tayyip Erdogan, Erdogan, Saudi Arabia's Crown Prince Mohammed bin Salman, Abdel Fattah al, Sisi, Israel, Amihay Eliyahu's, Benjamin Netanyahu, Eliyahu, Huseyin Hayatsever, Kirsten Donovan, Christina Fincher Organizations: Islamic Cooperation, Saudi Press Agency, Handout, REUTERS Acquire, Rights, Saudi Arabia's Crown, Israel's, International Atomic Energy Agency, Federation of American, Thomson Locations: Riyadh, Saudi Arabia, Rights ANKARA, Israel, Saudi Arabia's, Gaza, Turkey, United States, Britain, Palestinian

☆ PetroChina to replace Exxon as lead contractor for Iraq's West Qurna 1 oilfield, oil executive says
▼ + stars: | 2023-11-11 | by ( Aref Mohammed | ) www.reuters.com time to read: +2 min

"We studied the settlement agreement and the oil ministry with the Basra Oil Company believe that the best option is for Petrochina to become the lead contractor of West Qurna 1," Hassan Mohammed, deputy Basra Oil Co. manager in charge of oilfields and licensing rounds affairs, told Reuters. Exxon and PetroChina were not immediately available for comment, but two oil managers at the West Qurna 1 field confirmed the details of the settlement and sale agreement signed with Exxon. Basra Oil Company director Khalid Hamza told Reuters in an interview in 2021 that Exxon was seeking to sell the share for $350 million. West Qurna 1, in southern Iraq, is one of the world’s largest oilfields with recoverable reserves estimated at more than 20 billion barrels. Following its exit from West Qurna 1, Exxon will have no presence in Iraq's energy sectory, said BOC officials.

Persons: Hassan Mohammed, PetroChina, Mohammed, Pertamina, Khalid Hamza, Aref Mohammed, Hadeel Al, Ahmed Rasheed, Kirsten Donovan, Giles Elgood Organizations: Exxon Mobil Corp, Basra Oil Company, Basra Oil Co, Reuters, Exxon, Exxon Mobil Corp's, BOC, Exxon Mobil’s, Thomson Locations: BASRA, Iraq, Iraqi, Basra, West, Indonesia’s, Iraq’s, Hadeel Al Sayegh, Dubai

☆ Al Shifa hospital suspends operations, baby dies: Gaza health ministry
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

GAZA, Nov 11 (Reuters) - The spokesperson for the Gaza health ministry said that operations in Al Shifa hospital complex, the largest in the Palestinian enclave, were suspended on Saturday after it ran out of fuel"As a result, one newborn baby died inside the incubator, where there are 45 babies," Ashraf Al-Qidra, the spokesman for the Health Ministry in Hamas-controlled Gaza told Reuters. We are besieged inside the Al Shifa Medical Complex, and the occupation has targeted most of the buildings inside," Qidra said by telephone. The Israeli military has said that Hamas militants who rampaged through southern Israel last month have placed command centres under Shifa hospital and others in Gaza, making them vulnerable to being considered military targets. "The occupation forces are firing on people moving inside the complex, which is limiting our ability to move from one department to another. Reporting by Nidal Al Mughrabi, writing by Omar Abdel-Razek and Philippa Fletcher, editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Ashraf Al, Qidra, Nidal Al Mughrabi, Omar Abdel, Razek, Philippa Fletcher, Kirsten Donovan Organizations: Health Ministry, Hamas, Reuters, Al, Thomson Locations: GAZA, Gaza, Al Shifa, Gaza City, Israel

☆ Russia renews missile attacks on Kyiv, pounds Ukraine's east and south
▼ + stars: | 2023-11-11 | by ( ) www.reuters.com time to read: +1 min

Serhiy Popko, head of the Kyiv city military administration, said a Russian ballistic missile was launched toward the capital at about 08:00 a.m.(0600 GMT). "After a long pause of 52 days, the enemy has resumed missile attacks on Kyiv," Popko said on the Telegram messaging app. "The missile failed to reach Kyiv, air defenders shot it down as it was approaching the capital." Ruslan Kravchenko, regional governor for the central Kyiv region, said five private houses and several commercial buildings in the area were damaged. Oleh Kiper, Odesa's regional governor, said the southern region was attacked with missiles and drones on Friday evening and overnight.

Persons: Serhiy Popko, Popko, Ruslan Kravchenko, Oleh, Olena, Kirsten Donovan Organizations: Initiative, Thomson Locations: Russia, Kyiv, Russian, Moscow

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