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[1/2] Sri Lankan rupees are seen in a bowl at a vegetable vendor's shop amid the rampant food inflation, amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29 , 2022. China has extended its "firm support to Sri Lanka through a debt treatment", EXIM Bank wrote in the letter to the Sri Lankan government on March 6. "Meanwhile, we would like to expedite the negotiation process with your side regarding medium- and long-term debt treatment in this window period, with a view to finalising the specifics of a debt treatment in the coming months. We will make our best efforts to contribute to the debt sustainability of Sri Lanka." The letter mirrors what EXIM Bank sent to Sri Lanka in January, except for the target of finalising debt-treatment specifics in the coming months.

☆ Boeing close to finalising 737 Max deal with Japan Airlines- Bloomberg
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: 1 min

[1/2] The Boeing logo is seen on the side of a Boeing 737 MAX at the Farnborough International Airshow, in Farnborough, Britain, July 20, 2022. REUTERS/Peter Cziborra/File PhotoMarch 8 (Reuters) - Boeing Co (BA.N) is close to sealing an order from Japan Airlines Co (9201.T) for at least 20 of its 737 Max planes, Bloomberg News reported on Wednesday, citing sources. The order will likely be a combination of smaller Max 8 jets along with some of Boeing's larger Max 10 planes, the report said. Reporting by Shivani Tanna in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

[1/2] Sri Lankan rupees are seen in a bowl at a vegetable vendor's shop amid the rampant food inflation, amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29 , 2022. China has extended its "firm support to Sri Lanka through a debt treatment", EXIM Bank wrote in the letter to the Sri Lankan government on March 6. "Meanwhile, we would like to expedite the negotiation process with your side regarding medium- and long-term debt treatment in this window period, with a view to finalising the specifics of a debt treatment in the coming months. We will make our best efforts to contribute to the debt sustainability of Sri Lanka." By end-2020, Sri Lanka owed EXIM $2.83 billion, or 3.5% of its external debt, according to IMF data.

☆ New EU-US data pact may come too late for Facebook -regulator
▼ + stars: | 2023-03-07 | by ( Conor Humphries | ) www.reuters.com time to read: +3 min

SummarySummary Companies Facebook may face EU-U.S. data freeze by MayAction due to concerns about U.S. intelligenceNew EU-U.S data privacy deal may come laterDUBLIN, March 7 (Reuters) - A new pact to facilitate the safe transfer of EU citizens' personal data to the United States might not come into force in time to avoid a suspension of Facebook's transatlantic data flows, the U.S. firm's lead European regulator said on Tuesday. European Union regulators led by Ireland's Data Protection Commissioner (DPC) Helen Dixon are finalising a ban on the legal tool used by Facebook to transfer European user data because of concerns U.S. intelligence agencies could access them. In an interview, Dixon said the ban could be in place by mid-May while a new EU-U.S data protection framework that would provide an alternative basis for the transfers might take longer. It must be signed off by other European regulators by April 13, and after that, Dixon said she would have another month to issue a ruling. NEW FRAMEWORKOfficials have said the new EU-U.S. framework, which aims to offer EU citizens the same level of data protection as under European law, may be ready by summer.

Speaking after hosting talks in Brussels between Serbian President Aleksandar Vucic and Kosovo Prime Minister Albin Kurti, Borrell said the leaders agreed "no further discussions" are needed on the deal between the former wartime foes. But Serbia still regards Kosovo as a breakaway province and flare-ups between the Balkan neighbours have stoked fears of a return to conflict. Under the new deal, Serbia stops short of recognising Kosovo as an independent state but agrees to recognise official documents such as passports, diplomas and licence plates and not to block Kosovo's membership of any international organisation. Borrell said the annex was an "integral part" of the new deal but it had not yet been agreed. Vucic has insisted Kosovo establish an association of Serb-majority municipalities, as agreed by a previous Kosovo government.

☆ Death toll in Italian migrant shipwreck rises to 61
▼ + stars: | 2023-02-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS TV via REUTERSROME, Feb 27 (Reuters) - The death toll in a migrant shipwreck near the southern Italian coast has risen to 61, an Italian official told Reuters on Monday, as searches continued for missing people. A total of 61 people have been found dead so far, while 80 were rescued, said Manuela Curra, a provincial government official. The vessel was carrying people from Afghanistan, Iran and several other countries, and the victims included 12 children, authorities said earlier. Based on reports from survivors, authorities believe 180 to 200 people in total had been on board the vessel, she added. Charity Doctors Without Borders (MSF), operating on the ground, said they were assisting several people who had lost relatives in the shipwreck.

☆ Still filming, Spielberg, 76, wins Berlin lifetime award
▼ + stars: | 2023-02-21 | by ( Hanna Rantala | ) www.reuters.com time to read: +2 min

[1/7] Director Steven Spielberg gestures during a news conference ahead of receiving the Honorary Golden Bear Award for Lifetime Achievement, at the 73rd Berlinale International Film Festival in Berlin, Germany, February 21, 2023. REUTERS/Annegret HilseBERLIN, Feb 21 (Reuters) - Director Steven Spielberg, picking up a lifetime achievement award at the Berlin Film Festival, said the prospect of making new films continued to excite him at 76, and unveiled new details of his planned HBO series. "We're mounting a large production for HBO based on Stanley's original script 'Napoleon'," he said. Reflecting on the past two years of frenetic film-making, Spielberg said the pandemic prompted him to revisit his childhood in "The Fabelmans". "If you want to be a movie director, first of all write," he said.

☆ EU calls for fast-track crypto capital rules for banks
▼ + stars: | 2023-02-20 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Feb 20 (Reuters) - Tough capital rules for banks holding cryptoassets must be fast-tracked in the European Union's pending banking law if Europe wants to avoid missing a globally-agreed deadline, the bloc's executive has said. The global Basel Committee of banking regulators from the world's main financial centres has set a January 2025 deadline for implementing capital requirements for banks' exposures to cryptoassets such as stablecoins and bitcoin. "Banks have expressed interest in trading crypto-assets on behalf of their clients and to provide crypto-assets-related services." Basel's standards are applied in the EU with a law, and a delay could mean that banks have to wait longer to enter the cryptomarket as separate EU rules for trading cryptoassets come into force in 2024. To enforce Basel's crypto rules, the EU could either propose a new law, or expand the banking law it is now finalising as called for by the European Parliament.

If sealed, this would be the second such deal between major LNG exporter Qatar and the world's no.2 LNG buyer, as Beijing looks to beef up gas supply and diversify its sources in a drive to replace coal and cut carbon emissions. CNPC's talks follow a deal announced last November by China's Sinopec, in which QatarEnergy agreed to supply 4 million tonnes of LNG annually for 27 years, the longest duration LNG supply contract ever signed by Qatar. "This is a good move for CNPC, securing additional long term supply from a reliable and well positioned partner. Sinopec said in November the gas purchase agreement was part of an "integrated partnership", which indicated the Chinese firm could be considering acquiring a stake in Qatar's North Field expansion export facility. Chinese customs data showed the country's imports of Qatari LNG surged 75% last year from 2021 to 15.7 million tonnes, making up a quarter of the nation's total imports, while China's total LNG imports shrank nearly 20%.

Saudi officials have pressed international companies to invest in the kingdom and move their regional headquarters to Riyadh in order to benefit from government contracts. "We are finalising the plans for opening the Riyadh region. He added that Oracle would also expand the capacity of its cloud region in Jeddah, which the company first opened in 2020. The company made the announcement as global tech companies gathered for a major tech conference in the Saudi capital. Though Oracle lags its bigger rivals in the race to corner the cloud computing market, it was among the first large tech companies to open a data centre in Saudi Arabia.

"I said to him that if you invest in Indonesia, I will give the concession of nickel," Jokowi said, referring to Indonesia's offer of a mining concession. The president said he was "confident" Indonesia had the edge over other countries Tesla might be considering for investment because it has the largest nickel reserves and a big domestic market. "If they want to start from EV battery, it's OK," he added. In addition to Indonesia, South Korea, Canada and Mexico have been vying for Tesla to invest in manufacturing. POSSIBLE FIRST FOR ASIAIf Tesla were to invest in battery production in Indonesia, it would be its first facility of that kind in Asia.

☆ Gautam Adani’s next hurdles may be harder to clear
▼ + stars: | 2023-02-01 | by ( Una Galani | ) www.reuters.com time to read: +4 min

HONG KONG, Feb 1 (Reuters Breakingviews) - It helps to have friendly investors and rich families on hand when finalising a tricky share sale. The feat will be hard to repeat though, while the Indian tycoon’s next hurdles might be harder to clear. Investor interest in Adani Enterprises (ADEL.NS) was underwhelming. Shares in $32 billion Adani Total Gas (ADAG.NS) have nearly halved since Hindenburg published its critical report. loadingCONTEXT NEWSThe $2.4 billion share sale by Adani Enterprises was fully subscribed on Jan. 31, data released by the Indian stock exchange showed.

☆ Britain's first crypto regulations to set 'robust' standards
▼ + stars: | 2023-01-31 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo/File PhotoLONDON, Jan 31 (Reuters) - Britain's finance ministry plans "robust" regulations for crypto assets, following the collapse of crypto exchange FTX last year, which left millions of people nursing billions of dollars in losses. Crypto is currently unregulated globally, with firms only having to carry out checks to prevent money laundering. "These proposals will place responsibility on crypto trading venues for defining the detailed content requirements for admission and disclosure documents - ensuring crypto exchanges have fair and robust standards," the ministry said. Regulators are focusing on prising open "crypto conglomerates" which combine activities like trading, lending and custody under one roof, but with traditional regulatory safeguards between them absent. The European Union is already finalising its first set of crypto rules.

☆ ECB rejects banking sector call for lower capital to boost lending
▼ + stars: | 2023-01-27 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

REUTERS/Pascal RossignolLONDON, Jan 27 (Reuters) - The European Central Bank (ECB) on Friday rejected calls from Europe's banks to ease capital rules to boost lending and put them on an equal footing with U.S. rivals. "Policymakers should redouble their efforts to complete the banking and capital markets unions," the report said, referring to EU projects to deepen its capital market and create a more competitive cross-border banking market. "The largest global European banks have even slightly lower requirements than their counterparts across the Atlantic," an ECB spokesperson said. "It is also questionable that lower capital requirements would lead to higher lending: what is proven is that low levels of capital lead banks to abruptly reduce lending in a crisis, thus deepening the adverse impact on the economy," the ECB said. The EU is finalising the remaining leg of global bank capital rules that were written in response to the financial crisis, with temporary waivers from some elements in the teeth of ECB opposition.

☆ Ease capital rules on EU banks to boost lending, banking industry says
▼ + stars: | 2023-01-27 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

Banking regulation is internationally coordinated by regulators, but differences remain in how the rules work in practice, and how they are implemented, the report said. EBF Graphic 2The report said the difference in regulatory-induced costs at EU banks compared with their U.S. peers can explain 0.8-1.0 percentage points of a gap in return on equity, which is a measure of profitability. "Policymakers should redouble their efforts to complete the banking and capital markets unions," the report said, referring to EU projects to deepen its capital market and create a more competitive cross-border banking market. Banks now hold more capital after being bailed out by taxpayers in the 2008 financial crisis. The EU is finalising the remaining leg of global bank capital rules that were written in response to the financial crisis, with temporary waivers from some elements.

Ukraine said it had shot down all 24 drones sent overnight by Russia, including 15 around the capital, and 47 of 55 Russian missiles - some fired from Tu-95 strategic bombers in the Russian Arctic. Eleven people were killed and 11 wounded in the drone and missile strikes, which spanned 11 regions and also damaged 35 buildings, a State Emergency Service spokesperson said. Prime Minister Denys Shmyhal said electricity substations had been hit as Russia continued to target energy facilities. [1/7] Local residents remove debris from a house of their neighbour damaged by a Russian military strike, amid Russia's attack on Ukraine, in the town of Hlevakha, outside Kyiv, Ukraine January 26, 2023. Both Moscow and Kyiv, which have so far relied on Soviet-era T-72 tanks, are expected to mount new ground offensives in spring.

Palliser and some of Capricorn's biggest shareholders had also publicly opposed a planned merger with Israeli gas producer NewMed (NWMDp.TA), with major proxy advisers recommending votes against the merger plan and Capricorn's board. Chairperson Nicoletta Giadrossi, CEO Simon Thomson and three other directors stepped down from the board with immediate effect, Capricorn said on Tuesday. NewMed said in a statement following Capricorn's board shake-up that it saw a significantly smaller chance of finalising the merger. Capricorn postponed the NewMed vote to Feb. 22, while the meeting called by Palliser regarding the directors will go ahead as planned. The NewMed merger plan, announced in September, aims to create an Israel-Egypt focused gas producer, but several shareholders have said the deal undervalues Capricorn.

[1/2] The logo of Airbus is picuted at the Airbus facility in Montoir-de-Bretagne near Saint-Nazaire, France, March 4, 2022. REUTERS/Stephane MaheDELHI/PARIS, Jan 20 (Reuters) - European planemaker Airbus (AIR.PA) is set to win an order for 235 single-aisle planes as part of a historic purchase of some 495 jets due to be announced by a resurgent Air India on Jan. 27, industry sources told Reuters. Air India and Boeing did not immediately respond to requests for comment. Reuters reported last month that Air India was close to placing orders for around 500 jets from both Airbus and Boeing after months of intense talks on the core plane order. Air India, with its maharajah mascot, was once known for its lavishly decorated planes and stellar service but its reputation declined in the mid-2000s as financial troubles mounted.

☆ Indonesia says BASF, Eramet near $2.6 bln deal to process nickel for EV batteries
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +3 min

[1/2] A logo is seen on the facade of the BASF plant and former Ciba production site in Schweizerhalle near Basel July 7, 2009. Indonesia's investment ministry cited BASF chief executive Martin Brudermüller as saying the project investment would be worth around 2.4 billion euros ($2.59 billion). Eramet spokeswoman Fanny Mounier said the project was subject to a final investment decision and further details would be disclosed if a decision was made. The planned plant would produce mixed hydroxide precipitate (MHP) from nickel through a high-pressure acid leach (HPAL) plant. Investment into MHP production in Indonesia has so far been dominated by Chinese companies such as Zhejiang Huayou Cobalt and Tsingshan Holding Group.

☆ BASF, Eramet near $2.6 bln Indonesia deal to process nickel for EV batteries
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +3 min

JAKARTA, Jan 18 (Reuters) - Germany's BASF (BASFn.DE) and French miner Eramet (ERMT.PA) are finalising a $2.6 billion partnership deal to invest in a facility in Indonesia to process nickel for use in batteries for electric vehicles, Indonesian officials said. The project investment would be worth around 2.4 billion euros ($2.59 billion), the investment ministry said, citing BASF chief executive Martin Brudermüller. BASF and Eramet's investment plan was in line with the government's "aspirations to set up Indonesia as world-class EV player," said Investment Minister Bahlil Lahadalia. Indonesia is also finalising agreements with Chinese automaker BYD Group and Tesla (TSLA.O) to invest in EV production facilities, a senior cabinet minister said on Tuesday. Investment into MHP production in Indonesia has so far been dominated by Chinese companies such as Zhejiang Huayou Cobalt and Tsingshan Holding Group.

☆ BASF, Eramet to finalise $2.6 bln partnership on Indonesia nickel smelter -Indonesia
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 18 (Reuters) - Germany's BASF (BASFn.DE) and French mining firm Eramet (ERMT.PA) are finalising a $2.6 billion partnership deal to invest in a nickel smelting facility in Indonesia, Indonesia's investment ministry said, citing the CEO of BASF. The project investment deal would be worth around 2.4 billion euros ($2.59 billion), the investment ministry said, citing BASF chief executive Martin Brudermüller. The project will make materials to be used in batteries for electric vehicles. Eramet would own 51% of the project, while BASF would hold 49%, the presentation showed. BASF and Eramet could not immediately be reached for comment.

COLOMBO, Jan 18 (Reuters) - India has told the International Monetary Fund that it strongly supports Sri Lanka's debt restructuring plan as the island nation seeks a $2.9 billion loan from the global lender, according to a letter seen by Reuters. "We hereby confirm our strong support for Sri Lanka's prospective (loan) program and commit to supporting Sri Lanka with financing/debt relief consistent with restoring Sri Lanka's public debt sustainability," Indian finance ministry official Rajat Kumar Mishra told the IMF chief in a letter dated Jan. 16. Sri Lanka owes India around $1 billion that will come under the debt restructuring plan, a source familiar with the matter told Reuters earlier this week. New Delhi separately provided Sri Lanka with about $4 billion in rapid assistance between January and July last year, including credit lines, a currency swap arrangement and deferred import payments. Sri Lanka owed Chinese lenders $7.4 billion - nearly a fifth of its public external debt - by the end of last year, according to calculations by the China Africa Research Initiative (CARI).

☆ Australia to spend $2 billion on 40 U.S. Black Hawk choppers
▼ + stars: | 2023-01-18 | by ( Lewis Jackson | ) www.reuters.com time to read: +1 min

SYDNEY, Jan 18 (Reuters) - Australia confirmed on Wednesday it would buy 40 Black Hawk military helicopters from the United States for an estimated A$2.8 billion ($1.96 billion), finalising a sale signed off by the U.S. State Department last August. The Lockheed Martin Corp (LMT.N) UH-60M Black Hawks will replace the Army's fleet of MRH-90 Taipan choppers, which have been plagued for years by maintenance issues. "We're confident that we can get that from the Black Hawks. A 2021 decision to ditch French-made submarines for nuclear submarines to be built by the United States and Britain sparked a bitter diplomatic dispute with France. Australian industry will be involved in logistics, warehousing, engineering as well as the helicopter's global supply chain, said the Defence Department in a statement.

☆ India tells IMF it backs Sri Lanka's debt restructuring plan, source says
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +3 min

[1/2] A medical worker talks to a vendor selling household goods and food for patients and their family members, outside Apeksha Hospital, Colombo, Sri Lanka, August 11, 2022. Sri Lanka's finance ministry did not immediately respond to a request for comment. Sri Lanka owes India around $1 billion that will come under the debt restructuring plan, the source said. "Talks with bilateral lenders including India and China to restructure Sri Lanka's debt are progressing well and we are hopeful of finalising support from the IMF in the first quarter of 2023," Sri Lanka's cabinet spokesperson, Bandula Gunawardana, told reporters on Tuesday. The IMF has stressed the importance of joint talks involving three of Sri Lanka's main bilateral creditors - China, Japan and India.

☆ Indonesia close to EV deals with BYD Group and Tesla - minister
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +1 min

JAKARTA, Jan 17 (Reuters) - Indonesia is finalising agreements with China's automaker BYD Group and U.S. carmaker Tesla (TSLA.O) to invest in electric vehicle (EV) production facilities in the Southeast Asian country, a senior cabinet minister said on Tuesday. Indonesia is aggressively promoting investment into batteries and EVs at home to take advantage of its rich nickel resources. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalising deals with Indonesia," coordinating minister Luhut Pandjaitan said in a meeting with provincial governments. BYD Group and Tesla did not immediately respond to requests for comment. SGMW Motor Indonesia, part of a joint venture of SAIC Motor Corp Ltd, General Motors Co (GM.N) and Wuling Motors Holdings (0305.HK), has built assembly facilities in Indonesia.

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