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☆ Betting on a rate cut now is 'premature,' European Central Bank member says
▼ + stars: | 2023-09-25 | by ( Silvia Amaro | ) www.cnbc.com time to read: 1 min

It is "premature" to bet on a cut to interest rates, Francois Villeroy de Galhau, France's central bank governor, told CNBC, as market players consider whether the European Central Bank has reached peak rates. "We should remain at this level for a sufficiently long period of time," he told CNBC's Annette Weisbach exclusively on Monday. "Betting now on the next cut is probably premature." The ECB hiked rates once again earlier this month, bringing its main deposit rate to 4%. The benchmark rate stood at -0.5% in July 2022 before the central bank embarked on an intense rate hiking cycle in an effort to tackle high inflation.

Persons: Francois Villeroy de, CNBC's Annette Weisbach Organizations: CNBC, European Central Bank Locations: France's

ISTANBUL (AP) — Turkey’s central bank raised its key interest rate by 5 percentage points Thursday, another large but expected hike that signals a continued push toward more traditional economic policies under President Recep Tayyip Erdogan. The Turkish central bank started cutting rates in late 2021 under pressure from Erdogan. Before their appointments, the central bank had cut its key interest rate from around 19% in 2021 to 8.5% earlier this year. Erdogan has fired three central bank governors who resisted pressure to cut rates before appointing Erkan’s predecessor in 2021. Following Erkan’s appointment, the bank has raised its key rate a series fo time: by an aggressive 7.5 percentage points in August, 2.5 percentage points in July and 6.5 percentage points in June.

Persons: Recep Tayyip Erdogan, Erdogan, Merrill Lynch, Mehmet Simsek, Hafize Gaye Erkan, Erkan’s Organizations: U.S . Federal Reserve, Bank of England, U.S Locations: ISTANBUL, Turkey, Turkish, Erdogan, Central, Ukraine

☆ Sweden's central bank raises rates to 4%, in line with expectations
▼ + stars: | 2023-09-21 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Sweden's central bank hiked interest rates for the eighth consecutive time on Thursday, taking the main rate to 4%, as the country continues to battle high inflation. The quarter-point increase is in line with the expectations of analysts polled by Reuters. Sweden's headline inflation, which excludes energy costs, slowed more than expected last month, coming to 7.2% for the month of August, according to Statistics Sweden. The Swedish economy is "going in the right direction," the central bank said in a statement, while nevertheless highlighting that inflationary pressures "are still too high." Stefan Ingves, former central bank governor, in January warned that Sweden was facing its "day of reckoning," as house prices plummeted and the wider economy stuttered.

Persons: Stefan Ingves, I've, Ingves Organizations: Reuters, Statistics Sweden, U.S Locations: Swedish, Sweden

☆ How Ukraine’s banks can survive another war: podcast
▼ + stars: | 2023-09-19 | by ( Pierre Briancon | ) www.reuters.com time to read: 1 min

LONDON, Sept 19 (Reuters Breakingviews) - The country’s former central bank Governor Valeria Gontareva explains on The Exchange podcast how the radical steps implemented in 2014 helped Ukrainian lenders withstand the Russian invasion and kept the financial system afloat, and why Ukraine needs to keep reforming. Listen to the podcastFollow @pierrebri on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Valeria Gontareva, Oliver Taslic Organizations: Reuters, Thomson Locations: Ukraine

☆ China's PBOC woos foreign businesses as economic challenges grow
▼ + stars: | 2023-09-19 | by ( Laura He | ) edition.cnn.com time to read: +3 min

The symposium was intended to “increase financial support to help stabilize foreign trade and foreign investment” and improve the “investment environment” for foreign business, the statement said. In the first eight months of this year, foreign direct investment into China fell 5.1% from a year ago, according to data released by China’s commerce ministry on Sunday. A separate measure for foreign investment painted a grimmer picture. Companies that attended PBOC’s meeting called on Beijing to improve its business environment, its statement added. “[We] will continue to optimize policy arrangements, create a market-oriented, legal and international first-class business environment,” Pan told the companies.

Persons: Gongsheng, JP Morgan, Tesla, Gina Raimondo, ”, ” Pan Organizations: Hong Kong CNN, People’s Bank of China, HSBC, Deutsche Bank, DB, BNP, Japan’s, Bank, BASF, Schneider, State Administration of Foreign Exchange, SAFE, American Chamber of Commerce, US, Companies Locations: China, Hong Kong, Shanghai, Southeast Asia, Beijing

☆ A tale of two central banks as Uruguay rises and Argentina slides
▼ + stars: | 2023-09-18 | by ( Lucinda Elliott | ) www.reuters.com time to read: +4 min

Diego Labat, Central Bank Governor of Uruguay, poses for a picture during an interview with Reuters, in Montevideo, Uruguay September 8, 2023. REUTERS/Lucinda Elliott/File Photo Acquire Licensing RightsMONTEVIDEO, Sept 18 (Reuters) - Diego Labat, Uruguay's central bank chief, is sitting pretty. "A problem in Argentina back then was a problem in Uruguay," Labat said. Argentina's net central bank reserves are also estimated to be in the red, hurting its ability to make payments as it battles to keep a $44 billion International Monetary Fund (IMF) program alive. Total non-resident deposits have fallen to 8%, from a peak of 41.5% in 2001, central bank data show.

Persons: Diego Labat, Lucinda Elliott, Labat, Uruguay's, That's, Adam Jourdan, David Holmes Organizations: Central Bank Governor, Reuters, REUTERS, Rights, European Union, Monetary Fund, Reuters Graphics, JPMorgan, Thomson Locations: Uruguay, Montevideo, Rights MONTEVIDEO, Uruguay's, de La Plata, Buenos Aires, Argentina, China, Brazil, Chile, America

A view shows the placards of the political parties in front of the European Central Bank (ECB) building in Frankfurt, Germany, September 14, 2023. The central bank for the 20 countries that use the euro has already raised interest rates 10 times to record levels but inflation remains well above its 2% target. ECB President Christine Lagarde said last week that policymakers had not discussed the bond-buying schemes at their latest policy meeting. She described the PEPP as the ECB's "first line of defence" to preserve policy transmission - central bank jargon for bond market stability in the most indebted countries. Slovenian central bank governor Bostjan Vasle recently backed selling bonds bought under the ECB's older Asset Purchase Programme, which is less flexible than the PEPP.

Persons: Wolfgang Rattay, Christine Lagarde, Bostjan Vasle, Peter Kazimir, Catherine Evans Organizations: European Central Bank, REUTERS, Central Bank, Reuters, ECB, Thomson Locations: Frankfurt, Germany, Italy, FRANKFURT, Athens, Slovenian, PEPP, Sintra

☆ ECB’s Stournaras urges governments to help bring down inflation, Bloomberg reports
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +1 min

Central Bank Governor Yannis Stournaras poses for a photo in his office at the bank’s headquarters in Athens, Greece, October 22, 2021. REUTERS/Louiza Vradi Acquire Licensing RightsSept 17 (Reuters) - European Central Bank Governing Council member Yannis Stournaras said governments must do their part in reining in consumer prices after borrowing costs reached a level that may well be their peak, Bloomberg News reported on Sunday. “Monetary policy has done its part to fight inflation,” Stournaras told Bloomberg in an interview, adding that now it was up to fiscal policy to "take out some of the heat." “A more restrictive fiscal stance wouldn’t only be a welcome strategic complement to ECB policy but also help improve the credibility of public debt and loosen the nexus with banks,” the Greek central bank chief said. Reporting by Kanjyik Ghosh in Bengaluru Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Central Bank Governor Yannis Stournaras, Louiza, Yannis Stournaras, ” Stournaras, wouldn’t, Stournaras, Francois Villeroy de Galhau, Kanjyik Ghosh, Tomasz Janowski Organizations: Central Bank Governor, REUTERS, Central Bank Governing, Bloomberg, ECB, Thomson Locations: Athens, Greece, reining, Bengaluru

☆ Russian c.bank governor speaks against reintroducing currency restrictions
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Elvira Nabiullina, Governor of Russian Central Bank, speaks to the media during the conference "10 years of the Megaregulator: yesterday, today, tomorrow" in Moscow, Russia September 1, 2023. REUTERS/Evgenia Novozhenina/File photo Acquire Licensing RightsMOSCOW, Sept 15 (Reuters) - Russian Central Bank Governor Elvira Nabiullina spoke out against reintroducing currency controls after hiking rates to 13% on Friday, warning that such steps were inefficient and ultimately would be circumvented. Nabiullina said that discussions about currency restrictions were underway, but were largely for the government to decide. "Administrative restrictions, if they are effective... then they are usually effective only for a limited time," Nabiullina said. Similarly, she said, repatriating FX revenues from foreign banks to Russian ones would have no impact on the rouble rate.

Persons: Elvira Nabiullina, Evgenia, Russian Central Bank Governor Elvira Nabiullina, Nabiullina, Vladimir Putin, Elena Fabrichnaya, Alexander Marrow, Vladimir Soldatkin, Anastasia Lyrchikova, Mark Trevelyan Organizations: Russian Central Bank, REUTERS, Rights, Russian Central Bank Governor, Bank of Russia, Thomson Locations: Moscow, Russia

☆ Russian c.bank chief Nabiullina and her deputy on rates, inflation and the economy
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +8 min

NABIULLINA ON ROUBLE WEAKENING:"Of course, we take into account that the weakening of the exchange rate is a pro-inflationary factor. And about 90% of the converted foreign exchange earnings of the company continue to be sold. Having sold their foreign exchange earnings, exporters have the opportunity to buy it back in the volumes in which they deem necessary. NABIULLINA ON REPATRIATION OF FOREIGN CURRENCY PROCEEDS:“The second topic is the repatriation of foreign currency earnings, the transfer of foreign currency funds from foreign banks to Russian ones. NABIULLINA ON UNPLANNED RATE INCREASE ON AUGUST 15:“This was not a reaction to (the rouble exchange rate) reaching any specific level.

Persons: Elvira Nabiullina, Alexei Zabotkin, ” Organizations: Central Bank, Reuters, Thomson Locations: MOSCOW, Russian

☆ Nigeria's Tinubu picks banker Cardoso as next central bank governor
▼ + stars: | 2023-09-15 | by ( Felix Onuah | ) www.reuters.com time to read: +2 min

ABUJA, Sept 15 (Reuters) - President Bola Tinubu has nominated the former head of Citibank in Nigeria, Olayemi Cardoso, to serve as the country's new central bank governor, days before its next interest rate meeting, a presidential spokesperson said on Friday. The central bank did not respond to a request for comment on whether Emefiele and his deputy governors had resigned. The central bank raised rates by a smaller-than-expected 25 basis points in July, contrary to analysts' expectations, under acting Governor Folashondun Shonubi, one of Emefiele's deputies. The central bank pursued unorthodox policies under Emefiele who kept the currency artificially strong, a policy backed by former President Muhammadu Buhari, which supported government borrowings on the international markets. He was a former commissioner for economic planning and budget in Lagos state when Tinubu was governor between 1999-2007.

Persons: Bola Tinubu, Olayemi Cardoso, Godwin Emefiele, Tinubu, Cardoso, Ajuri Ngelale, Ngelale, Folashondun Shonubi, Emefiele, Muhammadu Buhari, Camillus Eboh, Chijioke Ohuocha, MacDonald Dzirutwe, Richard Chang, Jane Merriman, Hugh Lawson Organizations: Citibank, Central Bank of Nigeria, Thomson Locations: ABUJA, Nigeria, Lagos

BEIRUT (AP) — Four years after Lebanon’s historic meltdown began, the small nation is still facing “enormous economic challenges,” with a collapsed banking sector, eroding public services, deteriorating infrastructure and worsening poverty, the International Monetary Fund warned Friday. Since the financial meltdown began in October 2019, the country’s political class — blamed for decades of corruption and mismanagement — has been resisting economic and financial reforms requested by the international community. Lebanon started talks with the IMF in 2020 to try reach an approved bailout, but since reaching a preliminary agreement with the IMF last year, the country's leaders have been reluctant to implement needed reforms. “Lebanon has not undertaken the urgently needed reforms, and this will weigh on the economy for years to come,” the IMF statement said. The IMF said that all official exchange rates should be unified at the market exchange rate.

Persons: Sayrafa, Wassim Mansouri, — Organizations: International Monetary Fund, IMF Locations: BEIRUT, Lebanon

National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. On Friday, it gave hawkish guidance that it would consider further rate increases at upcoming meetings and said inflationary risks remained significant. The central bank adjusted its year-end forecast for inflation to 6.0-7.0% from 5.0-6.5%. "Russia's central bank is a hawkish institution that takes its commitment to inflation fighting seriously," said Senior Emerging Markets Economist Liam Peach. Central Bank Governor Elvira Nabiullina will shed more light on the bank's forecasts and policy in a media briefing at 1200 GMT.

Persons: Maxim Shemetov, jacking, Liam Peach, Central Bank Governor Elvira Nabiullina, Alexander Marrow, Elena Fabrichnaya, Darya Korsunskaya, Maria Kiselyova, Amruta Khandekar, Andrew Osborn, William Maclean, Catherine Evans Organizations: Russian Central Bank, REUTERS, Kremlin, Capital Economics, Central Bank Governor, Thomson Locations: Moscow, Russia, Russian, Ukraine MOSCOW, Ukraine, London

☆ Isolated Morocco earthquake survivors feel forgotten by state as they await help
▼ + stars: | 2023-09-14 | by ( Alexander Cornwell | ) www.reuters.com time to read: +4 min

"We Amazigh feel like foreigners in our country. We feel isolated. The government has said it is doing everything it can to help all earthquake victims. But in the Amazigh villages there was little sign of help from the authorities materialising or of life returning to normal anytime soon. [1/9]People affected by a deadly earthquake stand on a house, in the rural village of Azermoun, Morocco September 14, 2023.

Persons: Hannah McKay, Mohamed Zidane, Zidane, Mohamed Oufkir, Ibrahim Meghashi's, Estelle Shirbon, Andrew Heavens Organizations: Bank, World Bank, International Monetary Fund, REUTERS, Thomson Locations: Marrakech AZERMOUN, Morocco, Amazigh, Azermoun, Marrakech, Morocco's, Aoufour, Anzelfi, Tagsdirt

☆ U.S. Treasury official says Iraq must act to avoid further action on banks
▼ + stars: | 2023-09-14 | by ( Timour Azhari | ) www.reuters.com time to read: +6 min

Employees walk at the headquarters of the Central Bank of Iraq in Baghdad, Iraq August 15, 2023. Despite the crackdown, the senior U.S. Treasury official, who spoke on condition of anonymity, said there were still other Iraqi banks operating with risks "that must be remediated". Iraq's central bank governor has said Iraq is committed to implementing tighter financial regulations and combating the smuggling of dollars. The central bank did not immediately respond to a request for comment on Thursday. However, there were still "vested interests comfortable with the status quo that can create friction to driving change," the Treasury official said, without identifying who these were.

Persons: Ahmed Saad, Farhad Alaadin, Alaadin, Saddam Hussein, Mohammed Shia Al, Timour Azhari, Alexander Smith Organizations: Central Bank of, REUTERS, Treasury, U.S, Reuters, Iraqi, U.S . Federal, Iraq, U.S . Treasury, Thomson Locations: Central Bank of Iraq, Baghdad, Iraq, Iran, BAGHDAD, U.S, United States, Iraqi, Iranian, Tehran, Iraq's

☆ Japan Finance Minister: Expect BOJ to pursue inflation target with appropriate policies
▼ + stars: | 2023-09-12 | 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. "Specific monetary policy conduct is up to the BOJ to decide," Suzuki said. "I expect the BOJ to continue to liaise with the government closely and conduct monetary policy appropriately, while taking the economy, prices and financial conditions into account, to achieve its price stability target in a stable and sustainable way." Japanese long-term rates spiked on Monday to their highest in nine years and eight months on expectation that the BOJ could shift away from its negative rate policy, following Ueda's remarks in an interview with the Yomiuri Shimbun. The yen also rose sharply against the dollar on Monday after Ueda said on Saturday the central bank could end its negative interest rate policy when achievement of its 2% inflation target is in sight, signaling possible interest rate hikes.

Persons: Shunichi Suzuki, Shuji, Suzuki, Kazuo Ueda, Ueda, Tetsushi Kajimoto, Simon Cameron, Moore Organizations: Toki, Rights, Japanese Finance, Bank of Japan, Yomiuri Shimbun, Thomson Locations: Niigata, Japan

U.S. President Joe Biden, Indian Prime Minister Narendra Modi and President of the European Union Ursula von der Leyen attend the G20 summit in New Delhi, India, September 9, 2023. The summit declaration avoided condemning Russia for the war in Ukraine but highlighted the human suffering the conflict had caused and called on all states not to use force to grab territory. A failure to agree on a summit declaration would have signalled that the G20 was split, perhaps irrevocably, between the West on one side and China and Russia on the other, analysts said. Diplomats have said negotiators from India, Indonesia, Brazil and South Africa drove the consensus in the summit document. Despite the lack of concrete progress, Harsh Vardhan Shringla, India's chief G20 coordinator, said the meeting did take the group forward.

Persons: Joe Biden, Narendra Modi, Ursula von der Leyen, Evelyn Hockstein, Michael Froman, Svetlana Lukash, Lukash, Patryk Kugiel, ” Kugiel, Sergei Lavrov, Vladimir Putin, India's, Xi Jinping, Li Qiang, Vardhan, ”, Michel Rose, Aftab Ahmed, Raju Gopalakrishnan Organizations: Indian, European, REUTERS, Diplomats, African Union, India, Foreign Relations, Shanghai Cooperation Organisation, Russian G20, Polish Institute of International Affairs, Xinhua, Reuters, Thomson Locations: New Delhi, India, DELHI, Ukraine, Russia, York, U.S, China, Beijing, Russian, Warsaw, Delhi, Indonesia, Brazil, South Africa, Germany, Britain

☆ IMF urges pact to boost its resource quota, strengthen world economy
▼ + stars: | 2023-09-10 | by ( Swati Bhat | ) www.reuters.com time to read: +2 min

Kristalina Georgieva, Managing Director of the International Monetary Fund, arrives to attend a G20 Finance Ministers' and Central Bank governors' meeting at Gandhinagar, India, July 18, 2023. "To make the global economy stronger and more resilient in a more shock-prone world, it is vital to reach an agreement to increase the IMF's quota resources before the end of the year," she said. Such a pact would secure resources needed for the Fund's interest-free support to the poorest countries through the Poverty Reduction and Growth Trust, she added. The G20 summit also pledged to strengthen and reform multilateral development banks, while accepting a proposal to regulate cryptocurrencies more tightly worldwide. Reporting by Swati Bhat; Editing by Sudipto Ganguly and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Kristalina Georgieva, Amit Dave, Georgieva, Swati Bhat, Sudipto Ganguly, Clarence Fernandez Organizations: International Monetary Fund, Ministers, Central Bank governors, REUTERS, Growth Trust, Thomson Locations: Gandhinagar, India, DELHI, New Delhi

The logo of the European Investment Bank is pictured in the city of Luxembourg, Luxembourg, March 25, 2017. Also interested are the politically non-affiliated Italian central banker Daniele Franco, Poland's right-wing former Finance Minister and current EIB Vice President Teresa Czerwinska, and Sweden's socialist former Energy Minister and also current EIB Vice President Thomas Ostros. "We can say we are really spoilt for choice because all the candidates are excellent," German Finance Minister Christian Lindner told reporters on Thursday. The EIB is the lending arm of the EU and is active in 160 countries offering loans, guarantees, equity investments and advisory services. Germany's Deputy Central Bank Governor Claudia Buch and her Spanish counterpart Margarita Delgado are both in the running.

Persons: Eric Vidal, Vincent van Peteghem, Germany's Werner Hoyer, Margrethe Vestager, Nadia Calvino, Daniele Franco, Poland's, Teresa Czerwinska, Thomas Ostros, Christian Lindner, Central Bank Governor Claudia Buch, Margarita Delgado, Buch, Vestager, Emmanuel Macron, Richard Chang Organizations: European Investment Bank, Reuters, Rights, Belgian, Union, European Commission, Finance, Energy, European Central Bank, Germany's, Central Bank Governor, SSM, Thomson Locations: Luxembourg, Rights BRUSSELS, Italian, Spanish, EU, Paris, Spain

☆ Iran, US on Verge of Prisoner Swap Under Qatar-Mediated Deal
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +9 min

"Iran initially wanted direct access to the funds but in the end agreed to having access via Qatar," said a senior diplomat. Reuters pieced together this account of previously unreported details about the extent of Qatari mediation of the secret talks, how the deal unfolded and the expediency that motivated both parties to clinch the prisoner swap deal. Ties between the U.S. and Iran have been at boiling point since Donald Trump quit a nuclear deal with Iran as U.S. president in 2018. Reaching another nuclear deal has gained little traction since then, as President Joe Biden prepares for the 2024 U.S. election. Then president Trump in 2018 reimposed the sanctions when he pulled Washington out of a deal under which Iran had restricted its nuclear program.

Persons: Parisa Hafezi, Andrew Mills, Antony Blinken, Siamak Namazi, Morad Tahbaz, hasn’t, Jin, Washington, Donald Trump, Joe Biden, Biden, Blinken, Iran’s, Trump, Iran Robert Malley, Abram Paley, Ali Bagheri Kani, Mehdi Safari, Foreign Ministry Mohammed Al, Khulaifi, Malley, Paley, Kani, Al Khulaifi, Laila Bassam, Samia Nakhoul, William Maclean Organizations: Reuters, U.S, British, Islamic, Washington, Doha, Iranian, State Department, Qatar’s Ministry of Foreign Affairs, The State Department, Democrat, Qatari, TRANSIT QATAR, Iran, The Central Bank of, U.S ., State, Foreign Ministry Locations: Andrew Mills DUBAI, DOHA, Qatar, Iran, U.S, Tehran’s, Emad Sharqi, Islamic Republic, Western, Gulf, South Korea, Washington, Switzerland, Tehran, Seoul, Doha, Iranian, The Central Bank of Iran, Beirut

Persons: Mohammed bin Abdulaziz bin Saleh Al Khulaifi, Iran Dr, Ali Bagheri, Antony Blinken, Siamak Namazi, Morad Tahbaz, hasn’t, Jin, Washington, Donald Trump, Joe Biden, Biden, Blinken, Iran’s, Trump, Iran Robert Malley, Abram Paley, Ali Bagheri Kani, Mehdi Safari, Foreign Ministry Mohammed Al, Khulaifi, Malley, Paley, Kani, Al Khulaifi, Laila Bassam, Samia Nakhoul, William Maclean Organizations: Regional Affairs, Political Affairs, Qatar News Agency, Handout, REUTERS Acquire, Qatar, Qatar DUBAI, U.S, Reuters, British, Islamic, Washington, Doha, Iranian, State Department, Qatar’s Ministry of Foreign Affairs, The State Department, Democrat, Qatari, TRANSIT QATAR, Iran, The Central Bank of, U.S ., State, Foreign Ministry, Thomson Locations: Islamic Republic, Iran, Tehran, Qatar Gulf, DOHA, Qatar, U.S, Tehran’s, Emad Sharqi, Western, Gulf, South Korea, Washington, Switzerland, Seoul, Doha, Iranian, The Central Bank of Iran, Beirut

☆ Iran, US on verge of prisoner swap under Qatar-mediated deal
▼ + stars: | 2023-09-10 | by ( ) www.cnbc.com time to read: +9 min

Reuters pieced together this account of previously unreported details about the extent of Qatari mediation of the secret talks, how the deal unfolded and the expediency that motivated both parties to clinch the prisoner swap deal. 'You can build trust'The U.S. administration has not commented on the timing of the funds transfer. Ties between the U.S. and Iran have been at boiling point since Donald Trump quit a nuclear deal with Iran as U.S. president in 2018. Reaching another nuclear deal has gained little traction since then, as President Joe Biden prepares for the 2024 U.S. election. Then president Trump in 2018 reimposed the sanctions when he pulled Washington out of a deal under which Iran had restricted its nuclear program.

Persons: Antony Blinken, Siamak Namazi, Morad Tahbaz, hasn't, Jin, Washington, Donald Trump, Joe Biden, Biden, Blinken, Trump, Iran Robert Malley, Abram Paley, Ali Bagheri Kani, Mehdi Safari, Foreign Ministry Mohammed Al, Khulaifi, Malley, Paley, Kani, Al Khulaifi Organizations: Capitol, Iranian, National, Washington D.C, U.S, Reuters, British, Islamic, Washington, Doha, State Department, Qatar's Ministry of Foreign Affairs, The State Department, Democrat, Qatari, Iran, The Central Bank of, U.S ., State, Foreign Ministry Locations: Iranian, Washington, United States, Qatar, Iran, U.S, Tehran's, Emad Sharqi, Islamic Republic, Western, Gulf, South Korea, Switzerland, Tehran, Seoul, Doha, The Central Bank of Iran

☆ In 'macho' Mexico, stage set for first female president
▼ + stars: | 2023-09-09 | by ( Dave Graham | ) www.reuters.com time to read: +8 min

[1/2] Former Mexico City Mayor Claudia Sheinbaum reacts after she was nominated as a presidential candidate, in Mexico City, Mexico September 6, 2023. "It's extraordinary in a patriarchal country," said Josefina Vazquez Mota, who made history in 2012 as the first female presidential candidate for one of Mexico's main parties. "Just imagine having a female president in a country as macho as Mexico!" Mexican women did not win full voting rights until 1953, 33 years after the neighboring United States. Today, Vazquez Mota said, her PAN ally Galvez no longer had to respond to whether Mexico was ready for a female president.

Persons: Mexico City Mayor Claudia Sheinbaum, Henry Romero, Claudia Sheinbaum, Xochitl Galvez, Galvez, Josefina Vazquez Mota, Vazquez Mota, Maria del Carmen Garcia, Mexico City Mayor Sheinbaum, Andres Manuel Lopez Obrador, Marcelo Ebrard, Angelica Rodriguez, femicides, Guadalupe, Sor Juana Ines de la Cruz, Lorenzo Meyer, anticlerical, Gabriela Cuevas, Dave Graham, Stefanie Eschenbacher, Alberto Fajardo, Stephen Eisenhammer, Claudia Parsons Organizations: Mexico City Mayor, REUTERS, Action Party, PAN, Mexican, Court, men's, Roman, Virgin, Church, Colegio de Mexico, Reuters Graphics, Inter, Parliamentary Union, Federal, Vamos, OECD, Mexican Institute for Competitiveness, Thomson Locations: Mexico City, Mexico, MEXICO, America, Brazil, Honduras, Peru, United States, Canada, Yucatan, Reuters Graphics Mexico, Britain, Mexican, U.S, Turkey, Argentina

☆ G20: Highlights from the first day of the Delhi summit
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +3 min

The G20 logo is shown ahead of G20 Summit, in New Delhi, India, September 8, 2023. REUTERS/Anushree Fadnavis Acquire Licensing RightsSept 9 (Reuters) - The G20 has adopted a consensus declaration on issues facing the bloc, Indian Prime Minister Narendra Modi announced on Saturday during a summit, signalling that negotiators had resolved deep differences over the wording on the war in Ukraine. Following are excerpts from the declaration. UKRAINE- Concerning war in Ukraine, all states must act in a manner consistent with purposes and principles of UN charter in its entirety- On war in Ukraine, all states must refrain from threat or use of force to seek territorial acquisition against territorial integrity and sovereignty or political independence of any state- On war in Ukraine, use or threat of use of nuclear weapons is inadmissible- On Ukraine crisis, "there were different views and assessments of the situation"- Peaceful resolution of conflicts, and efforts to address crises as well as diplomacy and dialogue are critical- "Today’s era must not be of war." GRAIN/FOOD/ENERGY SECURITY- Call on Russia and Ukraine to ensure immediate and unimpeded deliveries of grain, foodstuffs, and fertilizers/inputs from Russia and Ukraine- Emphasizing importance of sustaining food and energy security, called for cessation of military destruction or other attacks on relevant infrastructure- Potential for high levels of volatility in food and energy markets remainsECONOMIES AND FINANCIAL MARKETS- "Will protect the vulnerable, through promoting equitable growth and enhancing macroeconomic and financial stability"- Reaffirm April 2021 exchange rate commitment made by our finance ministers and cenbank governors- We endorse financial stability board’s high-level recommendations for regulation, supervision and oversight of crypto-assets, activities- Our finance ministers, central bank governors will discuss taking forward the cryptocurrency roadmap at their meeting in October- Renew our commitment to ensure a level-playing field and fair competition by discouraging protectionism, market distorting practicesCLIMATE CHANGE- Need to accelerate efforts to phasedown unabated coal power, in line with national circumstances- Will work towards facilitating low-cost financing for developing countries to support their transition to low carbon/emissions- Will pursue and encourage efforts to triple renewable energy capacity globally through existing targets and policies, in line with national circumstances by 2030- Reiterate our commitment to take action to scale up sustainable finance- Recognise need for increased global investments to meet our climate goals of the Paris agreement- Note need of $5.8-5.9 trln in pre-2030 period required for developing countries, in particular for their needs to implement their emission targetsCompiled by Kim Coghill, Global News Desk, SingaporeOur Standards: The Thomson Reuters Trust Principles.

Persons: Anushree, Narendra Modi, Kim Coghill Organizations: G20, REUTERS, Indian, UN, Global, Thomson Locations: New Delhi, India, Ukraine, UKRAINE, Russia, Paris, Singapore

☆ Polish ruling party figures would face state tribunal after election, opposition says
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +3 min

FILE PHOTO-Poland's central bank governor-designate Adam Glapinski speaks during a hearing at a parliamentary panel at the Parliament in Warsaw, Poland May 20, 2016. Agencja Gazeta/Kuba Atys via REUTERS/File Photo Acquire Licensing RightsWARSAW, Sept 9 (Reuters) - Poland's main opposition party said on Saturday it would convene a state tribunal if it wins October's national election to consider allegations against ruling party figures and their allies, including the president, prime minister and the governor of the central bank. The central bank said that it "never comments on statements from politicians". It also says Prime Minister Mateusz Morawiecki should face a state tribunal for giving the order to attempt to hold the presidential elections by post in 2020. Most polls for the national election show PiS with more than 35% of the vote, while the KO grouping has around 30%.

Persons: Adam Glapinski, Atys, KO, Donald Tusk, Tusk, PiS, Glapinski, Andrzej Duda, Mateusz Morawiecki, Alan Charlish, Mike Harrison Organizations: Agencja Gazeta, REUTERS, Rights, liberal Civic Coalition, Justice, National Bank of Poland, Thomson Locations: Warsaw, Poland, Germany, Russia

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