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South Korean President Yoon Suk-yeol told reporters that Pyongyang has been "indiscriminately carrying out provocations", vowing to devise "watertight countermeasures". North Korea's military issued a statement via state media KCNA early on Friday saying that it took "strong military countermeasures", over artillery fire by South Korea on Thursday. The unprecedented frequency of North Korea's missile launches has raised concerns it may be preparing to resume testing of nuclear bombs for the first time since 2017. It said the South Korean air force "conducted an emergency sortie with its superior air force, including the F-35A". "The KPA sends a stern warning to the South Korean military inciting military tension in the frontline area with reckless action," its spokesman said, according to KCNA.

☆ Asia stumbles as China COVID, sterling wobbles shake sentiment
▼ + stars: | 2022-10-12 | by ( Kanupriya Kapoor | ) www.reuters.com time to read: +4 min

Sterling rose 0.4% to $1.1008 in late Asian trade but there are broader concerns about the direction of policy in Britain. In Japan, the rampaging dollar breached 146 yen for the first time in 24 years, prompting authorities in Tokyo to pledge necessary steps in the foreign exchange market if needed. Renewed U.S. dollar strength also sent the risk-sensitive Australian dollar to $0.6247, the lowest since April 2020. U.S. inflation data on Wednesday and Thursday is expected to keep the Fed on an aggressive rate hike path. It was the third straight dip in prices as investors worried about falling fuel demand and tightening COVID-19 curbs in China.

☆ Germany's EnBW says Sefe settlement cuts negative impact on profit
▼ + stars: | 2022-10-10 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

A general view of pipelines on the gas storage facility at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. The negative earnings impact for 2022 will likely be below 1.3 billion euros ($1.3 billion), an upper limit mentioned in its second-quarter report, but above 545 million euros, EnBW said in a statement on Monday. EnBW's VNG (VNG.UL) relies on Sefe for 65 terawatt hours (TWh) of gas supplies, accounting for much of its gas procurement needs. As a result of this, Germany's largest gas importers - Uniper (UN01.DE), Sefe and VNG - have either been bailed out or requested state aid to stay afloat. More specific effects on EnBW's finances and cash flows depend on further talks with the German government, the utility added.

REUTERS/Kim Kyung-Hoon/File PhotoNEW YORK/LONDON, Sept 25 (Reuters) - Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. "It's hard to know what will break where, and when," said Mike Kelly, head of multi-asset at PineBridge Investments (US). "Currency exchange rates ... are now violent in their moves," said David Kotok, chairman and chief investment officer at Cumberland Advisors. But the murky outlook meant that they were still not cheap enough for some investors. "We are of the view that markets are still massively underestimating the global economic growth hit that is coming," he said.

REUTERS/Kim Kyung-Hoon/File PhotoNEW YORK/LONDON, Sept 25 (Reuters) - Global investors are preparing for more market mayhem after a monumental week that whipsawed asset prices around the world, as central banks and governments ramped up their fight against inflation. "It's hard to know what will break where, and when," said Mike Kelly, head of multi-asset at PineBridge Investments (US). "Currency exchange rates ... are now violent in their moves," said David Kotok, chairman and chief investment officer at Cumberland Advisors. The fallout from the hectic week exacerbated trends for stocks and bonds that have been in place all year, pushing down prices for both asset classes. "We are of the view that markets are still massively underestimating the global economic growth hit that is coming," he said.

☆ Explainer: When EU embargo comes, where will Russia sell its crude oil?
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com Register"Russian Urals oil has always been a grade for Europe. It’s much easier for it to negotiate private deals than publicly commit to some price limitation dictated by the West," another trader involved in Russian oil trading told Reuters. Russia also supplies Europe with around 3.2 million tonnes of oil per month via the Druzhba pipeline. "Small players are definitely not enough for Russian oil to be absorbed. China is the last resort for the Russian oil or Moscow has to cut output eventually," a third trader involved in the Russian oil market said.

Abu Dhabi National Oil Co. is considering taking a minority stake in or full control of Gunvor Group. Abu Dhabi’s massive national oil company is in talks to buy commodity trading house Gunvor Group according to people familiar with the talks, a deal that would create one of the world’s largest traders of oil-and-gas products as the war in Ukraine is disrupting global energy supply. Abu Dhabi National Oil Co. is considering a minority stake or taking full control of Gunvor, merging it with the Emirati oil firm’s own trading company, these people said. A deal would mark a major overseas investment for a Gulf state flush with cash earned from elevated oil prices.

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