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☆ Japan's Foreign Minister Arranging Call With Iranian Counterpart
▼ + stars: | 2023-10-17 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

TOKYO (Reuters) - Japan's Foreign Minister Yoko Kamikawa is in the final process of arranging a telephone discussion with her Iranian counterpart Hossein Amirabdollahian on Tuesday, Japan's Chief Cabinet Secretary Hirokazu Matsuno said. Japan maintains a friendly relationship with Iran. In September, Prime Minister Fumio Kishida met Iranian president Ebrahim Raisi in New York and told that Japan will continue its diplomatic efforts toward easing tensions and stabilizing the situation in the middle east. U.S. President Joe Biden will make a high-stakes visit to Israel on Wednesday as the country prepares to escalate an offensive against Hamas militants that has set off a humanitarian crisis in Gaza and raised fears of a broader conflict with Iran. (Reporting by Kaori Kaneko; Editing by Christian Schmollinger)

Persons: Yoko Kamikawa, Hossein Amirabdollahian, Hirokazu Matsuno, Fumio Kishida, Ebrahim Raisi, Joe Biden, Kaori Kaneko, Christian Schmollinger Organizations: Japan's, Hamas Locations: TOKYO, Japan, Iran, New York, U.S, Israel, Gaza

☆ China central bank ramps up liquidity support via policy loans, rate unchanged
▼ + stars: | 2023-10-16 | by ( ) www.reuters.com time to read: +2 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File photo Acquire Licensing RightsSHANGHAI, Oct 16 (Reuters) - China's central bank ramped up liquidity support to the banking system as it rolled over medium-term policy loans on Monday, but kept the interest rate unchanged as expected. It held the rate on the one-year policy loans at 2.50%, unchanged from the previous operation. With 500 billion yuan worth of MLF loans maturing, the PBOC is injecting fresh liquidity into the banking system. Market watchers polled by Reuters last week predicted no change to the MLF rate.

Persons: Tingshu Wang, PBOC, Stone Zhou, Xing Zhaopeng, Christian Schmollinger Organizations: People's Bank of China, REUTERS, Rights, Reuters, Global Markets, UOB, ANZ, Shanghai, Thomson Locations: Beijing, China, U.S, UOB China, Liaoning, Chongqing, United States

The logo of Atos is pictured at the Eurosatory international defence and security exhibition in Villepinte, near Paris, France June 13, 2022. Mustier, credited with restoring UniCredit's capital strength, will be tasked to revive investors' trust after a governance crisis and a series of setbacks pummelled Atos' shares, now trading at near record lows. Atos shares jumped by more than 20% in early Paris trading but reversed course in the morning. The planned sale of Atos's loss-making legacy IT operations, dubbed Tech Foundations, to Kretinsky is opposed by some minority shareholders and several French politicians. Atos on Monday reiterated the plan to sell Tech Foundations to Kretinsky under the terms announced in August, although it signalled some of the financial terms could change.

Persons: Benoit Tessier, Bertrand Meunier, Kretinsky, Jean, Pierre Mustier, Daniel Kretinksy, Atos, Mustier, pummelled Atos, Kretinsky's, Mathieu Rosemain, Pierre John Felcenloben, Christian Schmollinger, Navaratnam, Louise Heavens Organizations: REUTERS, Tech Foundations, Tech, Atos, Kretinsky, Thomson Locations: Villepinte, Paris, France, Czech, Kretinsky, Eviden, French, Atos

Crude oil storage tanks are seen in an aerial photograph at the Cushing oil hub in Cushing, Oklahoma, U.S. April 21, 2020. US West Texas Intermediate (WTI) crude gained $1.98, or 2.39%, to $84.89 a barrel. "(A) geopolitical risk premium still lingers around the corner that is likely to support oil prices in the short-term," said Kelvin Wong, senior markets analyst at OANDA in Singapore. Russia is the world's second-largest oil producer and a major exporter and the tighter U.S. scrutiny of its shipments could curtail supply. Oil prices also shrugged off data released on Friday showing a month-on-month decline in Chinese crude imports.

Persons: Brent, WTI, Kelvin Wong, Wong, Daniel Hynes, Hynes, Paul Carsten, Katya Golubkova, Andrew Hayley, Christian Schmollinger, Deborah Kyvrikosaios Organizations: REUTERS, U.S, US West Texas, Hamas, OANDA, Organization of, Petroleum, ANZ, OPEC, Thomson Locations: Cushing , Oklahoma, U.S, Brent, Israel, Singapore, East, Russia, Moscow, Ukraine, China, London, Tokyo, Beijing

Disney+ Hotstar logo is seen in this illustration taken August 22, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsMUMBAI, Oct 11 (Reuters) - Private equity firm Blackstone (BX.N) has held preliminary discussions with Walt Disney (DIS.N) to acquire a stake in the Indian arm of the entertainment firm, two sources familiar with the matter told Reuters on Wednesday. Blackstone-backed U.S. media firm Candle Media, founded by former Disney executives, led conversations between the two parties last week, one of the sources said. Indian newspaper The Economic Times first reported the talks earlier on Wednesday. Disney has also held talks with Indian billionaires Gautam Adani and Sun TV Network (SUTV.NS) owner Kalanithi Maran, Bloomberg News reported last week.

Persons: Dado Ruvic, Walt Disney, Blackstone, Gautam Adani, Kalanithi Maran, Mukesh Ambani's, M Sriram, Aditya Kalra, Christian Schmollinger, Stephen Coates Organizations: Disney, REUTERS, Rights, Blackstone, Reuters, Candle Media, Economic Times, Sun TV Network, Bloomberg News, Indian Premier League, Thomson Locations: Rights MUMBAI, India, Mumbai, New Delhi

Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. Reuters' analysis of China's savings on oil purchases from the three sanctioned countries compares what Chinese importers would have paid by purchasing similar grades from non-sanctioned producers. For imports of Venezuelan oil, mostly heavy grade Merey, China saved an average of $10 a barrel versus comparable Colombian Castilla crude, the calculations based on the trader data showed. With January-September inflows of Venezuelan oil at around 430,000 bpd, according to the average of the Vortexa and Kpler data, China's savings from buying Venezuelan oil was $1.17 billion. TEAPOT MARGINSWith state refiners Sinopec and PetroChina refraining entirely from buying Iranian and Venezuelan crude, teapots have feasted on discounted oil from the two suppliers.

Persons: Aly, Kang Wu, Brent, Viktor Katona, Chen Aizhu, Muyu Xu, Tony Munroe Organizations: REUTERS, refiners, Reuters, P, Administration, Customs, Vortexa, Russia's, Castilla, Brent, U.S . State Department, U.S ., Thomson Locations: Zhuhai, China, Russia, Iran, Venezuela, SINGAPORE, United States, Moscow, Tehran, Caracas, East, West Africa, South America, Beijing, Kpler, Kozmino, Baltic, Ukraine, Europe, India, Brazil, Urals, Oman, U.S, Venezuelan, teapots, Shandong, Israel

Cars pass under an overpass at the General Motors Car assembly plant in Oshawa, June 1, 2012. GM has lost 34,176 vehicles of production since the start of the UAW strike in September, according to an estimate by Deutsche Bank. At the Oshawa plant, workers build light- and heavy-duty Chevrolet Silverado trucks, one of GM's most profitable models, while the plant's stamping operations supply various parts for GM North America. Unifor has used the "pattern bargaining" approach in its talks, reaching a deal first with Ford and then expecting GM and Stellantis to match. Unifor represents about 18,000 workers at the Canadian facilities of Ford, GM and Chrysler parent Stellantis (STLAM.MI).

Persons: Mark Blinch, GM, Lana Payne, Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed, Arun Koyyur Organizations: General Motors, REUTERS, General, U.S, Ford Motor, GM, Detroit Three, Unifor, United Auto Workers, UAW, Deutsche Bank, St, Chevrolet, Chevrolet Silverado, GM North America, Ford, Chrysler, Unions, Thomson Locations: Oshawa, Canada, U.S, St, Catharines, Woodstock, CAMI, Ingersoll , Ontario, St . Catharines, Bengaluru

☆ Japan to chair G7 finance ministers meeting at IMF conference on Oct 12
▼ + stars: | 2023-10-10 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +1 min

Japanese Finance Minister Shunichi Suzuki speaks during the presidency press conference at the G7 meeting of finance ministers and central bank governors, at Toki Messe in Niigata, Japan, Saturday, May 13, 2023. Shuji Kajiyama/Pool via REUTERS/File Photo Acquire Licensing RightsTOKYO, Oct 10 (Reuters) - Japan will chair a meeting of finance ministers and central bank governors from the Group of Seven (G7) advanced nations on Oct. 12 to discuss the war in Ukraine and the world economy, Finance Minister Shunichi Suzuki said on Tuesday. The G7 meeting will be part of a broader Group of 20 gathering, Suzuki told reporters that will be held on the sidelines of the annual International Monetary Fund conference in the Moroccan city of Marrakech. The G7 meeting will also include roundtable talks with African nations to facilitate flows of private-sector funds to the continent, Suzuki said. Reporting by Tetsushi Kajimoto; Editing by Christian Schmollinger and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Shunichi Suzuki, Shuji, Suzuki, Kazuo Ueda, Tetsushi Kajimoto, Christian Schmollinger Organizations: Toki, Rights, Finance, International Monetary Fund, Marrakech . Bank of Japan, Thomson Locations: Niigata, Japan, Ukraine, Moroccan, Marrakech

The indicative price range was set at 1,830-1,840 yen per share, KKR-backed Kokusai said in a regulatory filing on Tuesday, compared with 1,890 yen previously. Kokusai said the lower range reflected the view of institutional investors and the state of the stock market. If its IPO prices at the top of the range, Kokusai, which manufactures machines that deposit thin films on silicon wafers, will offer 108.3 billion yen ($729 million) worth of shares and have a market valuation of 423.9 billion yen, excluding an overallotment. Capital Research and Management and Lazard Asset Management have committed to purchase shares at the offer price, Kokusai said in a separate filing. Kokusai's largest customers are Samsung Electronics (005930.KS), TSMC (2330.TW) and Micron Technology (MU.O), collectively accounting for more than 40% of its revenue.

Persons: Kokusai, SoftBank Group's, Sam Nussey, Makiko Yamazaki, Miho Uranaka, Kaori Kaneko, Christian Schmollinger, Sonali Paul, Edmund Klamann Organizations: Kokusai, KKR, Capital Research, Management, Lazard Asset Management, Samsung Electronics, Micron Technology, Investors, Micron, Thomson Locations: TOKYO

☆ Canadian union Unifor strikes at GM after contract talks fail
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +3 min

GM was disappointed about being unable to reach a deal at this time but will continue to negotiate with Unifor, the automaker said in a statement. Unifor represents about 18,000 workers at the Canadian facilities of the Detroit Three automakers, which also include Ford (F.N) and Chrysler parent Stellantis (STLAM.MI). Unifor last month ratified a new three-year contract with Ford that offered wage increases of up to 25% to more than 5,600 workers at its Canadian facilities. Unifor said last week that GM was "resisting" a number of important elements of its agreement with Ford. The union had chosen the company as its second bargaining target of the Detroit Three automakers after Ford.

Persons: Mark Blinch, Unifor, Lana Payne, Mack Trucks, Jason Gale, ” Unifor, Shivansh Tiwary, Jyoti Narayan, Christian Schmollinger, Jamie Freed Organizations: General Motors, REUTERS, General, North, Unifor, Detroit Three, Ford, Chrysler, United Auto Workers, UAW, Volvo Group, Detroit, Thomson Locations: Oshawa, St, Catharines, Woodstock, United States, Canada, Ontario, Bengaluru

☆ Attack on Israel boosts appeal of gold, safe-haven assets
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Amir Cohen Acquire Licensing RightsNEW YORK, Oct 8 (Reuters) - The violence in Israel that erupted this weekend is prompting a move into safe-haven assets as investors closely watch events in the Middle East to gauge the geopolitical risk to markets. Gunmen from the Palestinian group Hamas entered Israel in an unprecedented attack on Saturday. Western countries, led by the United States, denounced the attack and pledged support for Israel. Rising geopolitical risk would see buying in assets like gold and the dollar , and boost demand for U.S. Treasuries, which have been sold off aggressively, analysts said over the weekend. "It seems Wall Street has a new geopolitical risk after Israel declared war with Hamas," said Edward Moya, senior market analyst at Oanda in New York.

Persons: Amir Cohen, Treasuries, Peter Cardillo, Cardillo, Stocks, Israel, Edward Moya, Brian Jacobsen, Iran’s, Jacobsen, " Jacobsen, David Kotok, Kevin McCarthy, Kotok, Megan Davies, Lisa Shumaker, Mark Porter, Schmollinger Organizations: REUTERS, Gunmen, Hamas, Israel, U.S, Spartan Capital Securities, U.S ., Analysts, Annex Wealth Management, Cumberland Advisors, Republicans, Representatives Locations: Gaza, Ashkelon, Israel, United States, Asia, New York, Iran, U.S, Saudi Arabia, Washington, Sarasota , Florida

☆ Shanghai stock exchange probes Zhejiang King after its public listing halt
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +2 min

A security guard stands at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File Photo Acquire Licensing RightsBEIJING, Oct 8 (Reuters) - The Shanghai Stock Exchange said it will probe Zhejiang King Co Ltd after the Chinese maker of air conditioners halted its initial public offering (IPO) amid media reports about alleged issues such as the overpricing of shares. Zhejiang King on Saturday said it will suspend the new share subscription procedure initially scheduled on Monday because of the media reports, without specifying the nature of those reports. Zhejiang King said in its prospectus published last month that assets related to its air conditioner business were indirectly acquired from a different listed air conditioner company via a series of asset restructuring schemes. Zhejiang King said last month it aimed to raise 2.38 billion yuan ($325.98 million) at 68.07 yuan per share.

Persons: Aly, Zhejiang King, Roxanne Liu, Ryan Woo, Christian Schmollinger Organizations: Shanghai Stock Exchange, REUTERS, Rights, Zhejiang King Co, China Securities Index Co, Thomson Locations: Pudong, Shanghai, China, Rights BEIJING, Zhejiang King, Zhejiang

☆ Afghanistan earthquakes kill 2,053, Taliban says, as death toll spikes
▼ + stars: | 2023-10-08 | by ( Mohammad Yunus Yawar | ) www.reuters.com time to read: +1 min

Amid the confusion, the death toll from Saturday's quakes spiked from 500 reported on Sunday morning by a Red Crescent spokesperson and 16 from Saturday night. The quakes hit 35 km (20 miles) northwest of the city of Herat, with one measuring 6.3 magnitude, the U.S. Geological Survey (USGS) said. Mullah Janan Sayeeq, spokesman for the Ministry of Disasters, told Reuters 2,053 people were dead, 9,240 injured and 1,329 houses damaged or destroyed. Bodies had been "taken to several places - military bases, hospitals," Danish said. Reporting by Mohammad Yunus Yawar in Kabul; Editing by William Mallard and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Mullah Janan Sayeeq, Danish, Naseema, Mohammad Yunus Yawar, William Mallard Organizations: Red Crescent, U.S . Geological Survey, Ministry, Reuters, Thomson Locations: KABUL, Afghanistan, Herat, U.S, Kabul

[1/8] Asian Games - Hangzhou 2022 - Closing Ceremony - Hangzhou Olympic Sports Centre Stadium, Hangzhou, China - October 8, 2023 A view of the handover ceremony at the closing ceremony REUTERS/Marko Djurica Acquire Licensing RightsHANGZHOU, China, Oct 8 (Reuters) - China's eastern city of Hangzhou rounded off the 19th Asian Games on Sunday with a colourful and "joy"-themed closing ceremony after hosting the continental sporting extravaganza which organisers hailed as "one of the finest" ever. Taking place amid tight security the less-than two hour ceremony also included a handover to the hosts of the next Asian Games in 2026, the Japanese city Nagoya. The hosts' 201st gold left them two better than their previous best of 199 at the 2010 Guangzhou Asian Games. Organisers said 12,407 athletes from 45 nations competed in 40 sports at the Hangzhou Games, which were delayed for a year due to COVID-19. "We have hosted the most successful Asian Games in history" said Chen Weiqiang, Executive Secretary General of the Hangzhou Asian Games Organising Committee and vice-mayor of Hangzhou.

Persons: Marko Djurica, Li Qiang, jigged, Takashi Kawamura, Randhir Singh, Gu Shiau, Kazakhstan's Moldir, Chen Weiqiang, WADA, Martin Quin Pollard, Ian Ransom, Christian Schmollinger, Toby Chopra, Christian Radnedge Organizations: Hangzhou Olympic Sports Centre, Rights, Games, Nagoya, Mainichi, Olympic Council of Asia, energised, Bangkok Games, Hangzhou Games, Hangzhou Asian Games, Doping Agency, Olympic, Paralympic Games, Olympic Council of, OCA Locations: Hangzhou, China, Rights HANGZHOU, Nagoya, Nanjing, Aichi, Guangzhou, Jakarta, Japan, Macau, North, Korea, Olympic Council of Asia

☆ Israel expected 'stronger condemnation' of Hamas from China, Beijing embassy official says
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Oct 8 (Reuters) - Israel expected to see a "stronger condemnation" of Hamas from China, a country it views as its friend, Yuval Waks, a senior official at the Israeli embassy in Beijing, said on Sunday. "When people are being murdered, slaughtered in the streets, this is not the time to call for a two-state solution," Waks told reporters. China's foreign ministry earlier on Sunday urged the relevant parties to remain calm and immediately end the hostilities to protect civilians, adding that "the fundamental way out of the conflict lies in implementing the two-state solution and establishing an independent State of Palestine." Reporting by Yew Lun Tian; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Yuval Waks, Waks, Yew Lun, Christian Schmollinger Organizations: Sunday, Thomson Locations: BEIJING, Israel, China, Beijing, State, Palestine

☆ Typhoon Koinu turns south off China's coast, headed for Hainan
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Oct 8 (Reuters) - Typhoon Koinu, which lashed Taiwan with rains and winds last week, on Sunday turned south over the seas off the coast of China's Guangdong province towards the Chinese resort island of Hainan, with its intensity nearly unchanged from a day earlier. As of 10 a.m. (0200 GMT), Koinu had yet to make landfall on the Chinese coast, maintaining its strength over water about 455 km (283 miles) northeast of the city of Zhanjiang in Guangdong, according to Chinese weather forecasters. Koinu, still packing gale-force winds of up to 144 kph (89.5 mph), is expected to slowly churn south along the coast of Guangdong at a pace of 5 to 10 kph, weakening gradually as the typhoon reaches Zhanjiang and the southern island province of Hainan. Last week, Koinu, which means "puppy" in Japanese, killed one person and injured almost 400 people in Taiwan as it brushed past the south of the island. Chinese authorities remained on high alert even though Koinu looked unlikely to travel inland towards populous Chinese cities.

Persons: Koinu, Ryan Woo, Christian Schmollinger Organizations: Sunday, Thomson Locations: BEIJING, Taiwan, China's Guangdong, Hainan, Zhanjiang, Guangdong, China

☆ Two killed by avalanches on Tibet’s Shishapangma as 50 were climbing
▼ + stars: | 2023-10-08 | by ( ) www.reuters.com time to read: +3 min

Shishapangma, at just over 8,000 metres (26,247 feet), is the world's 14th tallest peak. Two avalanches hit its slopes at elevations of 7,600 metres and 8,000 metres on Saturday, killing American climber Anna Gutu and Nepalese guide Mingmar Sherpa, Xinhua reported on Sunday. All climbing activity on Shishapangma was suspended because of the unstable snow conditions. Had one of the Pakistani climbers, Sirbaz Khan, reached the top of Shishapangma he would have become the first Pakistani to summit all 14 mountains over 8,000 metres. Among those who had previously died on Shishapangma was famed American climber Alex Lowe in 1999, also because of an avalanche.

Persons: Anna Gutu, Gina Marie Rzucidlo, Tenjen Sherpa, Norway's Kristin Harila, Sirbaz Khan, Shishapangma, Alex Lowe, David Bridges, Ryan Woo, Christian Schmollinger Organizations: Xinhua, Sherpa, Thomson Locations: BEIJING, American, Pakistan, United States, Britain, Romania, Albania, Italy, Japan, Xinhua, Nepal

☆ Typhoon Koinu Turns South off China's Coast, Headed for Hainan
▼ + stars: | 2023-10-07 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

BEIJING (Reuters) - Typhoon Koinu, which lashed Taiwan with rains and winds last week, on Sunday turned south over the seas off the coast of China's Guangdong province towards the Chinese resort island of Hainan, with its intensity nearly unchanged from a day earlier. As of 10 a.m. (0200 GMT), Koinu had yet to make landfall on the Chinese coast, maintaining its strength over water about 455 km (283 miles) northeast of the city of Zhanjiang in Guangdong, according to Chinese weather forecasters. Koinu, still packing gale-force winds of up to 144 kph (89.5 mph), is expected to slowly churn south along the coast of Guangdong at a pace of 5 to 10 kph, weakening gradually as the typhoon reaches Zhanjiang and the southern island province of Hainan. Last week, Koinu, which means "puppy" in Japanese, killed one person and injured almost 400 people in Taiwan as it brushed past the south of the island. Chinese authorities remained on high alert even though Koinu looked unlikely to travel inland towards populous Chinese cities.

Persons: Koinu, Ryan Woo, Christian Schmollinger Organizations: Sunday Locations: BEIJING, Taiwan, China's Guangdong, Hainan, Zhanjiang, Guangdong, China

☆ Hyundai Motor to adopt Tesla EV-charging standard from 2024 in US
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSEOUL, Oct 5 (Reuters) - Hyundai Motor Co (005380.KS) said on Thursday it has decided to adopt Tesla Inc's (TSLA.O) electric vehicle (EV) charging technology in the United States and Canada. That will give Hyundai EVs with NACS ports access to more than 12,000 Tesla Superchargers across the United States, Canada, and Mexico, the company said. Owners of existing and future Hyundai EVs with the current CCS will have access to the Tesla Supercharging Network starting in the first quarter of 2025. In June, Hyundai Motor said it would consider making its vehicles more readily compatible with the NACS charging system. Tesla's NACS is widely available, with the U.S. Department of Energy saying they make up about 60% of the fast chargers in the United States.

Persons: Andrew Kelly, Tesla, Hyundai's, Elon, company's superchargers, Jose Munoz, NACS, Heekyong Yang, Christian Schmollinger Organizations: Hyundai Kona, New York, REUTERS, Rights, Hyundai, Ford, General Motors, Nissan, Hyundai Motor, Hyundai Motor's, Global, CCS, Tesla Supercharging Network, U.S . Department of Energy, Volkswagen, Kia Corp, BMW, Thomson Locations: Manhattan , New York City, U.S, Rights SEOUL, KS, United States, Canada, Mexico

A double-digit gain in the price of rice drove annual inflation to accelerate by 6.1% last month, its fastest pace in four months, according to data from the Philippine Statistics Authority released on Thursday. The country's economic planning agency on Thursday said it would recommend extending the lowered tariff rates on rice until December 2024, a day after Philippine President Ferdinand Marcos Jr lifted the cap on rice prices. Rice inflation quickened by 17.9% in September, the fastest in over 14 years, the statistics authority said, helping fuel the 10.0% food inflation rate for the month. September's faster-than-expected inflation could convince the Bangko Sentral ng Pilipinas (BSP) to resume hiking rates after it left its benchmark rate (PHCBIR=ECI) steady at its last two meetings. Last month's inflation print brought year-to-date average inflation to 6.6%.

Persons: Lisa Marie David, Ferdinand Marcos Jr, Marcos, September's, Nicholas Mapa, Neil Jerome Morales, Mikhail Flores, Karen Lema, Martin Petty Organizations: REUTERS, Philippine Statistics Authority, Philippine, ng Pilipinas, ING, Christian, Thomson Locations: Manila, Philippines, MANILA

☆ Japan's inflation adjusted wages extend declines in August
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Oct 6 (Reuters) - Japan's real wages in August declined for a 17th straight month, government data showed on Friday, as persistent price hikes continued to outpace salaries. Separate data on Friday showed Japan's consumer spending also shrank for the sixth consecutive month in August, squeezing consumers' purchasing power even as major companies offered their biggest pay increases in three decades. The consumer inflation rate officials use to calculate real wages, which includes fresh food prices but excludes rent, slowed to 3.7%, the lowest in 11 months. Base salary growth in August climbed 1.6% year-on-year, from a revised 1.4% gain in the previous month, the data showed. "As import prices settle down, the growth rate of consumer inflation is also expected to gradually narrow, and real wages will also recover," Koike said.

Persons: Masato Koike, Fumio Kishida, Sompo's Koike, Koike, Satoshi Sugiyama, Kantaro, Christian Schmollinger, Sam Holmes Organizations: Global, Bank of Japan, Sompo, Ministry of Health, Labour, Welfare, Thomson Locations: TOKYO, Base

☆ China rebukes EU, says it is rushing consultations in EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +1 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsSINGAPORE, Oct 4 (Reuters) - China said on Wednesday that a demand by the European Union that it partipate in consultations within a "very short" period of time about a probe into electric vehicle subsidies is a severe infringment of China's rights. The Chinese side had not been given adequate consultation materials, the Chinese Commerce ministry said in a statement. The European Commission has said it will investigate whether to impose tariffs to shield European producers from a "flood" of cheaper Chinese electric vehicle (EV) imports it says benefit from state subsidies. China will pay close attention to the commission's investigative procedures and will safeguard the rights and interests of Chinese firms, it added.

Persons: Dado Ruvic, Chen Aizhu, Christian Schmollinger Organizations: REUTERS, Rights, European Union, Commerce, European, World Trade Organization, Thomson Locations: Rights SINGAPORE, China

☆ China rebukes EU after formal launch of EV subsidy probe
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Car miniature, "Electric vechicles (EVs)" words, EU and Chinese flags are seen in this illustration taken, September 26, 2023. China also urged the European Union to safeguard the stability of the global supply chain and a strategic partnership between the two, while "prudently" applying trade remedies. The formal launch of the EU investigation came with an announcement in the bloc's official journal, which said China had been invited for consultations, although it did not give a timeframe. Information gathered by the Commission tended to show that producers in China benefited from subsidies to the detriment of EU industry, it added. The European Commission has said China's share of EVs sold in Europe has risen to 8% and could reach 15% in 2025.

Persons: Dado Ruvic, EVs, Chen Aizhu, Philip Blenkinsop, Christian Schmollinger, Clarence Fernandez Organizations: REUTERS, Rights, European Union, European Commission, World Trade Organization, Commission, European, Thomson Locations: Rights SINGAPORE, BRUSSELS, China, Europe

☆ Canada wants private talks with India to resolve diplomatic spat
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Adnan Abidi/File Photo Acquire Licensing RightsOct 3 (Reuters) - Canada wants private talks with India to resolve a diplomatic dispute over the murder of a Sikh separatist leader, Foreign Minister Melanie Joly said on Tuesday, after a report said India had asked the country to withdraw 41 diplomats. India has told Canada that it must repatriate the diplomats by Oct. 10, according to the Financial Times. We take Canadian diplomats' safety very seriously and we will continue to engage privately because we think diplomatic conversations are best when they remain private," Joly told reporters. The Financial Times said India had threatened to revoke the diplomatic immunity of the 41 diplomats told to leave if they remained after Oct. 10. India suspended new visas for Canadians on Sept 22 and asked Ottawa to reduce its diplomatic presence in the country.

Persons: Narendra Modi, Justin Trudeau, Adnan Abidi, Melanie Joly, Joly, Hardeep Singh Nijjar, Trudeau, Subrahmanyam Jaishankar, Jahnavi, David Ljunggren, Steve Scherer, Christian Schmollinger, Robert Birsel, Ed Osmond, Deepa Babington Organizations: Indian, Canadian, REUTERS, Financial Times, Indian High Commission, Thomson Locations: Hyderabad, New Delhi, India, Canada, Ottawa, Bengaluru

☆ India Tells Canada to Withdraw 41 Diplomats - FT
▼ + stars: | 2023-10-03 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - India has told Canada that it must repatriate 41 diplomats by Oct. 10, the Financial Times reported on Tuesday. Ties between India and Canada have become seriously strained over Canadian suspicion that Indian government agents had a role in the June murder in Canada of a Sikh separatist leader and Canadian citizen, Hardeep Singh Nijjar, who India had labeled a "terrorist". The Financial Times, citing people familiar with the Indian demand, said India had threatened to revoke the diplomatic immunity of those diplomats told to leave who remained after Oct. 10. Canada has 62 diplomats in India and India had said that the total should be reduced by 41, the newspaper said. Indian Foreign Minister Subrahmanyam Jaishankar said earlier there was a "climate of violence" and an "atmosphere of intimidation" against Indian diplomats in Canada, where the presence of Sikh separatist groups has frustrated New Delhi.

Persons: Hardeep Singh Nijjar, Subrahmanyam Jaishankar, Jahnavi, Christian Schmollinger, Robert Birsel Organizations: Reuters, Financial Times, Financial, Indian Locations: India, Canada, Canadian, New Delhi, Bengaluru

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