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☆ UK markets watchdog ready to pounce as new consumer power comes into force
▼ + stars: | 2023-07-31 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

The new duty is particularly significant for being more granular, requiring "good outcomes" and no "forseeable harm" for customers across products and services, price and value. The duty will help the FCA tackle harms pre-emptively to stop a mis-selling scandal in the first place, she added. Firms will have to demonstrate to the FCA how they are providing good outcomes, a step the watchdog hopes will improve on the low trust in financial services. It says it will help ensure that banks pass on higher interest rates to savers, and provide help to those struggling to pay a mortgage. ($1 = 0.7770 pounds)Reporting by Huw Jones; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Nisha Arora, Arora, Philip Deeks, James's, Jonathan Herbst, Herbst, KPMG's Deeks, Deeks, Huw Jones, Conor Humphries Organizations: Financial, Authority, FCA, Reuters, Norton Rose, Thomson

☆ Israel PM adviser says road to deal on Saudi ties is 'still long'
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +4 min

JERUSALEM, July 31 (Reuters) - Israeli Prime Minister Benjamin Netanyahu's national security adviser on Monday said the road to normalising ties with Saudi Arabia was "still long" while members of his hard-right cabinet ruled out concessions to Palestinians as part of any deal. U.S. President Joe Biden last week dispatched his national security adviser to Riyadh to discuss a possible deal, and on Friday said a rapprochement was "maybe under way". PALESTINIAN CONCESSIONSThe idea of Israel and Saudi Arabia formally cementing ties has been under discussion since the Saudis gave their quiet assent to Gulf neighbours United Arab Emirates and Bahrain establishing ties with Israel in 2020. "We certainly won't agree to such a thing," National Missions Minister Orit Strock told Kan."We are done with withdrawals. Her remarks were echoed by the head of another government member, National Security Minister Itamar Ben-Gvir who heads the far-right Jewish Power party.

Persons: Benjamin Netanyahu's, Netanyahu, Joe Biden, Tzachi Hanegbi, Eli Cohen, Minister Orit Strock, Kan, Strock, Itamar Ben, Gvir, Cohen, Maayan Lubell, Ari Rabinovitch, Henriette Chacar, Conor Humphries, Grant McCool Organizations: Monday, U.S, United, Kan, U.S ., Israel, National, Minister, West Bank, Jewish, Army Radio, Authority, Netanyahu's, Thomson Locations: Saudi Arabia, U.S, Riyadh, Israel, Saudi, Gulf, United Arab Emirates, Bahrain, Judea, Samaria, East Jerusalem, Gaza

☆ Greece and Cyprus welcome EU bid to re-engage with Turkey, but urge caution
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

[1/2] Cyprus President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis walk during a welcome ceremony at the Presidential Palace in Nicosia, Cyprus July 31, 2023. The division of Cyprus between its Greek and Turkish Cypriot populations, a source of friction between Greece and Turkey, has also been an impediment. Cyprus was divided after a Turkish invasion in 1974 triggered by a Greek Cypriot coup engineered by the military junta then ruling Greece. It is represented in the EU by an internationally-recognised Greek Cypriot government. In recent years the Turkish Cypriot side has advocated a two-state settlement, rejected by Greek Cypriots.

Persons: Nikos Christodoulides, Kyriakos Mitsotakis, Yiannis Kourtoglou, Mitsotakis, Christodoulides, Ersin Tatar, Michele Kambas, Conor Humphries Organizations: Cyprus, REUTERS, Monday, European Union, EU, Christodoulides, Cypriot, United Nations, Turkish Cypriot, Greek, Thomson Locations: Nicosia, Cyprus, Yiannis, Yiannis Kourtoglou NICOSIA, Greece, Turkey, Ankara, Turkish, EU, Cyprus's, Cypriot, Turkish Cypriot

Companies Airbus SE FollowWASHINGTON, July 28 (Reuters) - The Justice Department on Friday asked a U.S. judge to dismiss a 2020 criminal case against European planemaker Airbus (AIR.PA) after more than three years. A 2020 deferred prosecution agreement resolved an investigation into charges Airbus violated anti-bribery laws and export controls. The planemaker paid about $4 billion worldwide including about $582 million in U.S. penalties. Under the deal, Airbus agreed to continue to cooperate with the department in any ongoing investigations and prosecutions relating to the conduct and to enhance its compliance program. Reporting by David Shepardson; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: David Shepardson, Conor Humphries Organizations: Airbus, Justice Department, European, European Union, Thomson Locations: WASHINGTON, United States

☆ Factbox: Who is Niger's new leader, Abdourahamane Tiani?
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

NIAMEY, July 28 (Reuters) - General Abdourahamane Tiani, the commander of Niger's presidential guard, was appointed head of state on Friday by a governing council set up by military forces that ousted President Mohammed Bazoum. Here are five facts about him:BACKGROUNDTiani is from Filingue, in the Nigerien region of Tillaberi, which borders Mali. RISE TO ELITE UNITThe 62-year-old decorated general and former military attache at Niger's embassy in Germany has led the elite presidential guard unit since 2011. FIGHT AGAINST CONTRABANDHe also served as head of a battalion in Agadez and led military operations in the Niger desert against contraband and drug traffickers. Reporting by Moussa Aksar; Writing by Emelia Sithole-Matarise; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdourahamane Tiani, Mohammed Bazoum, Tiani, Moussa Aksar, Emelia Sithole, Conor Humphries Organizations: UNIT, French UTA, Thomson Locations: NIAMEY, Filingue, Nigerien, Tillaberi, Mali, Germany, French, Bilma, Niger, Agadez

PARIS, July 28 (Reuters) - Amundi (AMUN.PA), Europe's biggest fund manager, posted better-than-expected quarterly net inflows on Friday as investors' appetite for risk-averse products underpinned a 1.9% yearly growth in assets under management. This beat the analyst consensus compiled by the company, which predicted a decrease of 1.1 billion euros in three-month period ending in June. Baudson also said that the reopening of China's economy started to have a positive effect on net inflows stemming from its joint venture with Bank of China, leading to "very slightly positive" net inflows in the second quarter. Amundi's second-quarter earnings also beat expectations, with adjusted net income totaling 320 million euros, up 19% from a year earlier. ($1 = 0.9098 euros)Reporting by Mathieu Rosemain; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Valerie Baudson, Baudson, Amundi's, Mathieu Rosemain, Conor Humphries Organizations: Europe's, Bank of, Thomson Locations: Bank of China

Ferrovial has been providing artificial intelligence services to its businesses and employees since April after two years of work on an AI solutions centre in Spain. Ferrovial is working with Microsoft AI products, but has its own, completely isolated version, and is building the framework for an AI service that will help its various businesses. The company is also using AI tools on its highways to detect cars going the wrong way, objects or people on the road, and is working on perfecting the sensors. In parallel, Ferrovial is working on ways to communicate directly with motorists using its U.S. toll roads and give them more information than just the rates. AI will also help it contact potential users to offer discounts and attract more traffic.

Persons: Ferrovial, Luis Carlos Pietro Fernandez, Fernandez, Corina Pons, Andrei Khalip, Conor Humphries Organizations: Heathrow, Reuters, Microsoft, Thomson Locations: MADRID, Spain, Highways, Madrid, Netherlands, United States, Heathrow, Britain's, New, JFK

Companies Harley-Davidson Inc FollowJuly 27 (Reuters) - Harley-Davidson Inc. (HOG.N) revised its sales outlook for the year after profit fell 17.5% in the second quarter as a suspension of production hit motorcycle shipments, the company said on Thursday. The 120-year old manufacturer revised its full-year revenue target and is anticipating sales growth of flat to 3% from its previous forecast of 4-7%. Net profit fell to $178 million, or $1.22 per share, in the second quarter, from $215.9 million, or $1.46 per share, a year earlier. Sales from motorcycles and related products fell about 4.4% to $1.19 billion in the quarter, which ended June 30. The company's financial services division saw a 19% increase in revenue growth but operating income was down 31% from the year prior.

Persons: Harley, Bianca Flowers, Sriraj, Conor Humphries Organizations: Davidson, Harley, Davidson Inc, . Company, Thomson Locations: York, Pennsylvania, Chicago, Bengaluru

REUTERS/Dado Ruvic/IllustrationLONDON, July 28 (Reuters) - Corporate credit quality is weaker than financial markets currently price in, while defaults are likely to pick up in the second half of the year, a report by Janus Henderson Investors said on Friday. Tighter lending standards, higher refinancing costs and a slowing economy would take their toll on the credit quality of corporates, the report said. This suggests that defaults could pick up in the second half, even if the pace of defaults is slower than in previous cycles, it added. Additionally, a recent trend of small businesses being forced to file for bankruptcy is likely to spread more broadly into capital markets, Janus Henderson noted. "As recession fears scaled back, markets have been pricing in a more muted credit default cycle.

Persons: Dado Ruvic, Janus Henderson, Jim Cielinski, Chiara Elisei, Dhara Ranasinghe, Conor Humphries Organizations: REUTERS, Janus Henderson Investors, P Global, U.S, Casino, Thomson Locations: industrials

☆ Ukraine recaptures Staromaiorske village in southeast, Zelenskiy says
▼ + stars: | 2023-07-27 | by ( ) www.reuters.com time to read: +2 min

KYIV, July 27 (Reuters) - Ukrainian soldiers have recaptured the southeastern village of Staromaiorske from Russian forces in Donetsk region, a video published by President Volodymyr Zelenskiy showed on Thursday. "The 35th brigade and the 'Ariy' territorial defence unit have fulfilled their task and liberated the village of Staromaiorske. The village lies to the south of a cluster of small settlements that Ukraine recaptured during a counteroffensive it began early in June against Russian forces who hold parts of southern and eastern Ukraine. "Our defenders are now continuing to clear the settlement," said Ukrainian Deputy Defence Minister Hanna Maliar declaring Staromaiorske liberated. Oleksandr Kovalenko, a Ukrainian military analyst, said Ukrainian troops now needed to reach another village, Staromlynivka, less than 5kms away.

Persons: Volodymyr Zelenskiy, Hanna Maliar, Staromaiorske, Oleksandr Kovalenko, Vladimir Putin, Zelenskiy, Tom Balmforth, Conor Humphries, Grant McCool Organizations: Reuters, Russian, Ukrainian, RBC UA, Thomson Locations: Staromaiorske, Donetsk region, Glory, Ukraine, Ukrainian, Staromlynivka

STOCKHOLM/FRANKFURT, July 27 (Reuters) - Sweden has the financial muscle to intervene to stem any fire sale of property from companies rushing to sell out, the head of the country's debt agency told Reuters on Thursday. Karolina Ekholm, Director General at the Debt Office, said the government had a light debt load and could afford to borrow more to intervene to buoy the property sector should a threat emerge to wider financial stability. High debts, rising interest rates and a wilting economy has produced a toxic cocktail for Sweden's commercial property companies, with several cut to junk by rating agencies. The former central bank official pointed to the government's financial clout and that it could issue debt in either euros or U.S. dollars. "It would have to be something that threatens financial stability in Sweden and so far we haven't seen any of that."

Persons: Karolina Ekholm, Ekholm, Conor Humphries Organizations: Reuters, Organisation for Economic Cooperation, Development, AAA, Thomson Locations: STOCKHOLM, FRANKFURT, Sweden

REUTERS/Remo Casilli/File PhotoJuly 27 (Reuters) - The number of court cases related to climate change has more than doubled in five years as impacts ranging from shrinking water resources to dangerous heatwaves hit home for millions, a report said on Thursday. Some 2,180 climate-related lawsuits have been filed across 65 jurisdictions over the past five years, according to the report by the UN Environment Programme (UNEP) and New York's Columbia University, which tracks ongoing climate cases in a global database. Many cases involve claims based on accusations of corporate greenwashing or advocating for greater climate disclosures. Youth climate activists have already played a central role, with 34 cases brought forward on behalf of children, teens, and young adults. Litigation targeting the disruptive actions of climate activists is also on the rise, Tigre said.

Persons: Remo Casilli, Maria Antonia Tigre, Andrew Raine ,, Shell, Tigre, Gloria Dickie, Conor Humphries Organizations: della, REUTERS, UN, Programme, New York's Columbia University, Columbia's, European, of Human, Thomson Locations: Italy, Rome, New, United States, Brazil, Indonesia, Toronto

REUTERS/Remo Casilli/File PhotoJuly 27 (Reuters) - The number of court cases related to climate change has more than doubled in five years as impacts ranging from shrinking water resources to dangerous heatwaves hit home for millions, a report said on Thursday. Some 2,180 climate-related lawsuits have been filed across 65 jurisdictions over the past five years, according to the report by the UN Environment Programme (UNEP) and New York's Columbia University, which tracks ongoing climate cases in a global database. While the United States still dominates with more than 1,500 cases, other countries are seeing increases. About 17 percent of cases have been filed in developing countries, according to the report, with rainforest-rich Brazil and Indonesia among the countries seeing the most. Youth climate activists have already played a central role, with 34 cases brought forward on behalf of children, teens, and young adults.

JAKARTA/HONG KONG, July 27 (Reuters) - TikTok said it has no plans to roll out a cross-border business in Indonesia as a government minister on Thursday expressed concerns over how reported plans for a new e-commerce push by the firm could flood the country with Chinese products. "We have no intent to create our own e-commerce product or become a retailer/wholesaler in Indonesia to compete with Indonesian sellers." The current localised TikTok Shop model "empowers and benefits" local sellers, and TikTok will continue with this approach, she added. The company said that its app has 325 million Southeast Asian users that are active every month while 125 million are in Indonesia. The company has said that there are 2 million small businesses on TikTok Shop in Indonesia.

Persons: TikTok, China's ByteDance, Masduki, Fiki, Temu, Anggini Setiawan, Shou Zi Chew, Stanley Widianto, Josh Ye, Brenda Goh, Conor Humphries Organizations: Reuters, Indonesia's, Cooperatives, Enterprises, PDD Holdings, U.S, of Communications, TikTok, Thomson Locations: JAKARTA, HONG KONG, Indonesia, United States, Indonesian, Europe, TikTok Indonesia, Asia, Jakarta, Hong Kong

☆ Bank of Japan may keep ultra-low rates, debate tweak to yield cap
▼ + stars: | 2023-07-27 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

The Nikkei newspaper reported the central bank will maintain its 0.5% cap for the 10-year government bond yield, but discuss allowing long-term interest rates to rise above that level by a certain degree. Under yield curve control (YCC), the BOJ guides the 10-year bond yield around 0% and sets an allowance band of 0.5% above and below that target. At the two-day meeting ending on Friday, the BOJ is widely expected to maintain the 10-year yield target and a -0.1% target set for short-term interest rates. The BOJ's meeting comes after the Federal Reserve's decision on Wednesday to raise interest rates, a move that further widens the interest rate gap between the United States and Japan. That changed last year, when soaring commodity prices pushed inflation above the 2% target and gave investors reason to attack the yield cap.

Persons: Ueda, Kazuo Ueda, Shinichi Uchida's, Leika Kihara, Sam Holmes, Conor Humphries Organizations: Nikkei, Bank of Japan, Reuters, Federal, Thomson Locations: TOKYO, United States, Japan

GDANSK, July 26 (Reuters) - Poland's biggest video games producer CD Projekt (CDR.WA) said on Wednesday it plans to lay off about 9% of personnel in its CD Projekt RED development studio, maker of Cyberpunk 2077 and "The Witcher" saga. Around 100 people will leave the company in a reduction process that is planned to conclude in the first quarter of next year. Phantom Liberty is the first and only expansion to company's Cyberpunk 2077 which is due to premier in late September. The news of redundancies within Poland's most well-known game studio came after two companies from the country's gaming sector, Ten Square Games and Huuuuge, announced they too would cut jobs. ($1 = 3.9973 zlotys)Reporting by Mateusz Rabiega; editing by Louise Heavens, Jason Neely and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Adam Kicinski, J.P, Morgan, Mateusz, Louise Heavens, Jason Neely, Conor Humphries Organizations: Liberty, Ten, Huuuuge, Thomson Locations: GDANSK

This brings the total impairments related to Russia to almost 700 million euros, Danone said. The adjustment on the balance sheet of 500 million euros to reflect the negative currency transaction difference will also be recognized by Dec. 31, it added. Danone also reported a better-than-expected rise in quarterly like-for-like sales, as it increased prices again to make up for rising costs. Like-for-like sales rose 6.4% in the second quarter, beating expectations for 5.6% growth in a company-compiled consensus of 18 analysts. ($1 = 0.9047 euros)Reporting by Richa Naidu; Editing by Edmund Klamann, Muralikumar Anantharaman and Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Danone, Richa Naidu, Edmund Klamann, Muralikumar Anantharaman, Conor Humphries Organizations: France's Danone, Danone, Evian, Nestle, Thomson Locations: Russia, Russian, Ukraine

NatWest lifer Rose climbed up the ranks over more than three decades from graduate trainee to boardroom, becoming the first woman to run one of Britain's major banks. "You can be a hero one day, a zero the next, as Alison Rose has found out." Davies lamented the "sad moment" while Rose paid tribute to colleagues who had helped her build solid foundations for the bank, in a statement accompanying the news. RBS TO NATWESTRose succeeded Ross McEwan as CEO of NatWest in 2019, becoming the lender's first female boss. But under Rose's supervision, the bank became one of Britain's biggest participants in government-designed loan schemes to keep ailing businesses afloat.

Persons: Alison Rose, Nigel Farage, NatWest lifer Rose, Coutts, Rishi Sunak, Rupert Younger, Rose, Howard Davies, Rose's, Davies, Charlie Nunn, Farage, impinging, NATWEST Rose, Ross McEwan, McEwan, Stephen Hester, Fred Goodwin, Lawrence White, Conor Humphries Organizations: NatWest's, Brexit Party, NatWest, Oxford University's, Lloyds Banking Group, Britain's, RBS, NATWEST, Royal Bank of Scotland, Thomson Locations: Europe, Westminster, Britain

But she said more needed to be done to prevent migrants trying to make the perilous Mediterranean crossing via unauthorised means. European Commission President Ursula von der Leyen echoed Meloni's point about offering legal routes into the 27-nation European Union (EU). Europe has pledged 1 billion euros ($1.1 billion) in aid to help Tunisia with its battered economy, with 100 million euros speficially earmarked for tackling illegal migration. The EU could work with countries such as Tunisia in expanding their production of renewable energy to the benefit of all, she added. Conference host Italy is struggling to cope with the number of unauthorised migrants arriving in centres such as its far southern island of Lampedusa.

Persons: Giorgia Meloni, Meloni, Ursula von der Leyen, von der Leyen, Mohamed al, POPE, Peter's, Pope Francis, COVID, Antonio Tajani, Ahmed Elumami, Foo Yun Chee, Conor Humphries Organizations: European Union, Presidential, Conference, EU, Thomson Locations: Italian, Rome, Europe, Italy, EU, Tunisia, St, Africa, Lampedusa, Tripoli, Brussels

☆ Global shares slip, dollar soars vs yen on BoJ policy expectations
▼ + stars: | 2023-07-21 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. The yen weakened 1.19% to 141.77 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.31%. "None of them are happening with massive severity, but the longer we go on with higher rates, more and more that's going to come through," he said. BOJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. "Markets were building up expectations which now look unlikely to play out," said Guillaume Paillat, a multi-asset manager at Aviva Investors.

Persons: Brendan McDermid, BoJ, Dow, Garrett Melson, Mullarkey, Patrick Spencer, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Nasdaq, Investment, Microsoft Corp, Apple Inc, SLC Management, Baird, Microsoft, Apple, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, London, MSCI's U.S, Europe, China, Sydney

Gold prices slipped as the dollar rebounded to its highest level in more than a week as investors prepare for next week's big central bank policy meetings, including the BoJ, the U.S. Federal Reserve and the European Central Bank. The yen weakened 1.13% to 141.68 per dollar, while the dollar index , a measure of the greenback against major trading currencies, rose 0.36%. BoJ policymakers prefer to scrutinize more data to ensure wages and inflation keep rising before changing yield control policy, five sources familiar with the matter said. The report added there was no consensus within the central bank and the decision could still be a close call. As Japanese inflation has stayed above the BoJ's target, traders have bet on the central bank ditching its yield curve control program, a move likely to cause the yen to strengthen.

Persons: Brendan McDermid, BoJ, Garrett Melson, Patrick Spencer, Spencer, you've, Guillaume Paillat, Brent, Herbert Lash, Naomi Rovnick, Stella Qiu, Conor Humphries, David Holmes, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Fed, ECB, Reuters, Bank of Japan, U.S . Federal Reserve, European Central Bank, Investment, Nasdaq, Baird, Microsoft Corp, Apple Inc, NYSE, Aviva Investors, Treasury, Thomson Locations: New York City, U.S, Boston, Europe, China, London

Brent crude futures rose 90 cents, or 1.1%, to $80.54 a barrel by 11:36 a.m. EDT [1536 GMT]. U.S. West Texas Intermediate futures rose 97 cents, or 1.3%, to $76.62 a barrel. "The oil market is starting to slowly price in a looming supply crunch as it is on track for its fourth week of price gains," said Price Futures Group analyst Phil Flynn. "Global supplies are starting to tighten and that could accelerate dramatically in the coming weeks. Data from the world's second-biggest oil consumer suggests the government's 5% annual growth target will be missed.

Persons: Phil Flynn, Flynn, Suhail, Mazrouei, Jay Hatfield, Shariq Khan, Natalie Grover, Arathy, Andrew Hayley, Conor Humphries, David Holmes Organizations: Brent, . West Texas, Futures, UN, Energy Information Administration, UAE Energy, Reuters, Infrastructure Capital Management, Thomson Locations: Russia, Ukraine, China BENGALURU, U.S, China, Bengaluru, London, Houston, Beijing

☆ UAE says current OPEC+ actions sufficient for now
▼ + stars: | 2023-07-21 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

GOA, India, July 21 (Reuters) - Current actions by OPEC+ to support the oil market are sufficient for now, UAE Energy Minister Suhail al-Mazrouei said on Friday, and the group is "only a phone call away" if any further steps are needed. "What we are doing is sufficient as we say today," the UAE minister told Reuters in Goa, India, where he is attending G20 energy ministerial meetings. The next OPEC+ policy meeting is not until November, although a panel of key ministers, the Joint Ministerial Monitoring Committee, holds an online meeting on Aug. 4 to review the market. The UAE minister said he was not worried about oil demand and described limited investment as the "biggest challenge." The UAE is among the few OPEC members with sizeable unused oil production capacity.

Persons: Suhail, Mazrouei, Nidhi Verma, Alex Lawler, Jason Neely, Louise Heavens, Conor Humphries, Paul Simao Organizations: UAE Energy, Organization of, Petroleum, Brent, Thomson Locations: GOA, India, OPEC, Russia, UAE, Goa, Saudi Arabia, China

☆ 'Many may die' warns UN after end of Black Sea grain deal
▼ + stars: | 2023-07-21 | by ( Michelle Nichols | ) www.reuters.com time to read: +5 min

Russia quit the Black Sea grain deal on Monday, saying that demands to improve its own food and fertilizer exports had not been met, and that not enough Ukrainian grain had reached the poorest countries. The Black Sea grain deal was brokered a year ago by the United Nations and Turkey to combat a global food crisis worsened by Russia's invasion. The impact of the grain deal in terms of provisions of Ukrainian grain to global markets is "essentially not very significant," he said. Before Russia withdrew from the Black Sea deal on Monday, the U.N. had "brokered a concrete proposal" with the European Commission to connect a Rosselkhozbank subsidiary to SWIFT. "We remain open to explore solutions with the U.N. that would contribute to the resumption of the grain deal," EU envoy to the U.N. Olof Skoog told the council.

Persons: Martin Griffiths, Mikhail Khan, Sergei Vershinin, Rosemary DiCarlo, Tayyip Erdogan, Vladimir Putin, Linda Thomas, Greenfield, Thomas, Dmitry Polyanskiy, Olof Skoog, Michelle Nichols, Sybille de La, Doina Chiacu, Conor Humphries Organizations: UNITED NATIONS, United Nations, Security, United, Security Council, U.S, Russia's Agricultural Bank, SWIFT, European Union, Russia, European Commission, Thomson Locations: Russia, Ukraine, U.S, Chicago, United Nations, Turkey, Afghanistan, Djibouti Ethiopia, Kenya, Somalia, Sudan, Yemen, Moscow, Crimea, Russia's, Paris

KARACHI, Pakistan, July 20 (Reuters) - Fuel pump operators across Pakistan are to hold a nationwide strike on July 22 in a bid to secure larger margins amid an inflation crisis, the Pakistan Petroleum Dealers Association said on Thursday. "We will shut down all petrol pumps across Pakistan on July 22, 6 p.m.," said the association, which says it has more than 10,000 members. In a statement it said interest rates and inflation have hit operators' businesses and called for the dealership margin to be increased. "Around 8,000-9,000 (operators) ... represented by us, will be shut on July 22," Abdul Sami Khan, chairman of the association, told Reuters. Reporting by Ariba Shahid in Karachi; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdul Sami Khan, Ariba Shahid, Conor Humphries Organizations: Pakistan Petroleum Dealers Association, Reuters, Thomson Locations: KARACHI, Pakistan, Karachi

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