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The government said it was imposing the ban after retail rice prices climbed 3% in a month as late monsoon rains damaged crops. While a late monsoon caused a major shortfall of rain up to mid-June, heavy rains since have caused significant damage. India accounts for more than 40% of world rice exports but low inventories mean any cut in shipments will fuel food prices driven up by Russia's invasion of Ukraine last year and erratic weather. His administration has extended a ban on wheat exports after curbing rice shipments in September 2022. "India would disrupt the global rice market with far greater velocity than Ukraine did in the wheat market with Russia's invasion," B.V. Krishna Rao, president of the Rice Exporters Association told Reuters.

Persons: Rice, Narendra Modi, Krishna Rao, Rao, El, Michael Hogan, Jan Harvey, David Evans, Conor Humphries Organizations: Rice, Association, Reuters, El, Farmers, El Nino, Thomson Locations: India, Ukraine, DELHI, Asia, Thailand, Vietnam, New Delhi, Punjab, Haryana, Rice, West Bengal, Bihar, Chhattisgarh, Andhra Pradesh, Telangana, China, Philippines, Hamburg

☆ Factbox: Why Indian rice export ban is so important to global trade
▼ + stars: | 2023-07-20 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

* India exports rice to more than 140 countries. Key buyers of Indian non-basmati rice include: Benin, Bangladesh, Angola, Cameroon, Djibouti, Guinea, Ivory Coast, Kenya and Nepal. * India exported 17.86 million tons of non-basmati rice in 2022, including 10.3 million tons of non-basmati white rice. In September 2022, India banned exports of broken rice and imposed a 20% duty on exports of various grades of rice. New Delhi has not put any restrictions on the export of basmati rice and parboiled rice, which stood at 4.4 million tons and 7.4 million tons, respectively, in 2022.

Persons: Rajendra Jadhav, Conor Humphries Organizations: Thomson Locations: MUMBAI, India, Thailand, Vietnam, Pakistan, United States, Benin, Bangladesh, Angola, Cameroon, Djibouti, Guinea, Ivory Coast, Kenya, Nepal, Iran, Iraq, Saudi Arabia, New Delhi, . West Bengal, Uttar Pradesh, Andhra Pradesh, Punjab, Odisha

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

☆ Renault Dacia sales surge 24% in first-half, production issues linger
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

Despite improvements, supply-chain issues are lingering, reducing Morocco production of the Dacia Sandero city car by 20,000 during the period, an executive said. Dacia, which boasts best-sellers such as the Sandero and is expanding its range of electric vehicles (EVs), sold 345,432 vehicles between January and June, the Dacia unit said in a statement. That compares to 277,885 units in the same period of 2022, which was heavily impacted by COVID-19 and component shortages. Sales of the Chinese-made Spring, one of the most affordable electric models on the French market, soared by 38%, while sales of the Sandero were up 24%. I don't know because we cannot still build all the cars we want to build," he said.

Persons: Xavier Martinet, Diana Mandiá, Conor Humphries Organizations: Renault SA, European Union, Thomson Locations: Dacia, French, Morocco, Dacia Sandero

☆ Thousands rally, block highways as final vote on Israeli judicial bill looms
▼ + stars: | 2023-07-18 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

Thousands poured onto the streets in rallies across the country, many waving Israeli flags, and police reported at least a half-dozen highways had been blocked. Dozens entered the Tel Aviv Stock Exchange, tossing fake banknotes as symbols of corruption. [1/3]People demonstrate on the 'Day of National Resistance' in protest against Israeli Prime Minister Benjamin Netanyahu and his nationalist coalition government's judicial overhaul, in Tel Aviv, Israel July 18, 2023. A group describing itself as military reservists opposed to the judicial overhaul attempted to block the entrance to the Israel Defence Forces (IDF) in Tel Aviv. Still, the coalition looked set to bring the bill to the plenum on Sunday for final votes before the July 30 recess.

Persons: Benjamin Netanyahu's, Netanyahu, Jonathan Eran Kali, Kali, Bezalel Smotrich, Benjamin Netanyahu, Corinna Kern, Herzi Halevi, Halevi, Noam Sohlberg, Dan Williams, Conor Humphries Organizations: Tel Aviv Stock Exchange, Reuters, Finance, of, Israeli, REUTERS, Israel Defence Forces, Thomson Locations: TEL AVIV, Tel Aviv, Israel

☆ Switzerland fights to contain forest fire near Italy border as winds pick up
▼ + stars: | 2023-07-18 | by ( Denis Balibouse | ) www.reuters.com time to read: +2 min

BITSCH, Switzerland, July 18 (Reuters) - Swiss firefighters on Tuesday were battling a forest fire that has forced more than 200 people to evacuate, and authorities warned winds were making the blaze difficult to contain. The fire broke out on Monday on the forested flank of a mountain in Bitsch in the Valais canton near the Italian border. An helicopter carries water to a wildfire on the flank of a mountain in Bitsch near Brig, Switzerland, July 18, 2023. REUTERS/Denis BalibouseThe situation could deteriorate further if winds grow stronger, said Adrienne Bellwald, spokesperson for the cantonal police. Its Federal Office for the Environment has warned forest fires could become more frequent, especially in summer, due to an increase in hot, dry weather caused by climate change.

Persons: Mario Schaller, Denis Balibouse, Adrienne Bellwald, Noele Illien, Emma Farge, Gabrielle Tétrault, Farber, Janet Lawrence, Conor Humphries, Bernadette Baum Organizations: Helicopters, REUTERS, Federal Office, Environment, Reuters, World Meteorological Organization, Thomson Locations: Switzerland, Bitsch, Valais, Brig, Europe, Asia, United States

LONDON, July 18 (Reuters) - Copper's electrical conductivity makes it a core component of the green energy transition, whether it be in the form of solar panels, electric vehicles or wind turbines. Which begs the question of where it might be if funds were collectively to buy into the green copper story. Fund positioning on the CME copper contractCHOPPY COPPERMoney manager net positioning on the CME copper contract has been flipping between long and short in recent weeks as LME copper chops around in a $8,140-8,870 range. China's recovery has disappointed copper bulls and funds shifted to the short side in May, coinciding with LME copper hitting the lower end of its trading range. Both volumes and open interest have perked up this year, but the driver appears to have been the China reopening story rather than the longer-term green energy narrative.

Persons: Conor Humphries Organizations: Citi, London Metal Exchange, CME, Traders, Shanghai Futures Exchange, Reuters, Thomson Locations: China

☆ Russia hits Ukraine targets in 'mass retaliatory strike' after bridge attack
▼ + stars: | 2023-07-18 | by ( Andrew Osborn | ) www.reuters.com time to read: +4 min

[1/2] A view shows a building damaged during a Russian missile and drone strikes, amid Russia's attack on Ukraine, in Odesa, Ukraine July 18, 2023. The ministry said it had struck Odesa, where the Ukrainian navy has its headquarters, and Mykolaiv, near Ukraine's Black Sea coast. It said it had struck a ship repair plant near Odesa where such boats - thought to be naval drones of the kind Russia believes were used to attack the Crimean bridge - were being built. Ukrainian media said Ukrainian security services had used naval drones to attack the bridge, which had only recently returned to full operation after suffering severe damage in a similar attack last October. Peskov confirmed that the overnight strikes had been revenge for the bridge attack.

Persons: Dmitry Peskov, Peskov, Alexander Kots, Kots, Russia's, Andrew Osborn, Conor Humphries, Mike Harrison Organizations: Press Service, Operational Command, Ukrainian Armed Forces, Kremlin, Russia's Defence, Ukrainian, Russian Federation, Russian, Komsomolskaya Pravda, Reuters, Thomson Locations: Russian, Ukraine, Odesa, Russia, MOSCOW, Kyiv, Mykolaiv, Ukraine's, Ukrainian, Moscow, Crimea, Crimean, Sevastopol

☆ Shanghai restaurant caters to pampered pets with gourmet dog's dinners
▼ + stars: | 2023-07-18 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +2 min

SHANGHAI, July 18 (Reuters) - Hengheng's friends could tell she was enjoying her birthday party in the pricey, health-conscious restaurant in downtown Shanghai by the way she licked her food off the plate. "If my dog is happy then I am happy. China's pet economy was worth 493.6 billion yuan ($69 billion) last year, a 25% increase on the previous year, according to data from research firm iiMedia Research. It is expected to reach 811.4 billion yuan by 2025. ($1 = 7.1867 Chinese yuan renminbi)Reporting by Casey Hall; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Hengheng, Tiffany Wang, Ma Tao, It's, Casey Hall, Conor Humphries Organizations: Border Collie, Dog, iiMedia, Thomson Locations: SHANGHAI, Shanghai, China

☆ Japan and UAE agree innovation, climate change cooperation
▼ + stars: | 2023-07-17 | by ( Rachna Uppal | ) www.reuters.com time to read: +4 min

State news agency WAM also said the two leaders discussed a comprehensive strategic partnership between the UAE and Japan. Japan is actively developing greener and renewable energy technologies and aims to be carbon neutral by 2050. Kishida will also try to promote Japanese know-how as energy-producing countries have pledged to achieve a net zero transition, especially ahead of the COP28 climate summit to be held in Dubai in November. The GCC is a six-nation regional union that comprises Saudi Arabia, UAE, Qatar, Kuwait, Oman and Bahrain. "The secure energy supply from the UAE has supported Japan's economic growth for many years," Kishida wrote in a piece published by UAE state news agency WAM on Sunday.

Persons: Mohamed bin Zayed Al Nahyan, Kishida, Ryan Carter, Fumio Kishida's, Sheikh Mohammed bin Zayed Al Nahyan, WAM, Saudi Crown Prince Mohammed bin Salman, Hikariko Ono, Rachna Uppal, Sakura Murakami, Andrew Mills, Aziz El Yaakoubi, Conor Humphries, David Evans, Alex Richardson, Jacqueline Wong Organizations: United Arab Emirates, United, UAE, United Arab, Japan, Qatar, Saudi Crown, Cooperation Council, GCC, Abu Dhabi National Oil Company, Thomson Locations: Japan, Qasr Al Watan, Abu Dhabi, United Arab, ABU DHABI, United Arab Emirates, UAE, State, Dubai, Saudi Arabia, Riyadh, Tokyo, Saudi, Qatar, Kuwait, Oman, Bahrain

July 14 (Reuters) - Emerging market equity funds are outpacing developed market rivals in attracting inflows for the first time in three years, underscoring a relatively more favourable growth outlook and expectations of faster rate cuts in many less developed markets. Refinitiv Lipper data shows money inflows into emerging market (EM) equity funds hit $30.55 billion in the first half of the year, compared with outflows of $88.65 billion from developed market equity funds. Data from the Institute of International Finance on Thursday also showed foreigners injected a staggering $22 billion net into emerging market portfolios in June, marking the highest influx since January. read moreThe case for emerging markets, analysts say, is they were ahead of developed markets in tightening monetary policy and are now beginning to reap the rewards of falling inflation, lower borrowing costs and improved growth. An over-leveraged real estate sector impedes growth," said Derek Izuel, chief investment officer and portfolio manager of the Shelton Emerging Markets Fund.

Persons: World's, Malcolm Dorson, Li Qiang, Derek Izuel, Patturaja, Vidya Ranganathan, Conor Humphries Organizations: Institute of International Finance, U.S . Fed, European Central Bank, Reuters Graphics, Reuters, Global, Shelton, Markets Fund, Thomson Locations: Hungary's, Europe, U.S, China

Alphabet shares were outperforming the broader market, with the S&P 500 (.SPX) up 0.6%, boosted by data showing signs of cooling inflation. Clearly they've been able to reassure European regulators about those issues, which just paves the way for further advantage really," said Hewson. Alphabet shares, which have seen a huge boost from investor excitement around generative artificial intelligence since February, are up around 41% so far this year. Microsoft shares are up 42% so far in 2023. Also on Thursday, TD Cowen raised its price target for Alphabet shares to $140 from $130 citing expectations of better growth in its search business.

Persons: Bard, watchdogs, Danni Hewson, AJ Bell, they've, Hewson, Art Hogan, Riley, TD Cowen, Bansari Mayur, Sinéad Carew, Conor Humphries Organizations: Inc, European Union, Google, Microsoft Corp, Microsoft, Thomson Locations: Europe, Brazil, Bengaluru, New York

☆ Brent oil hovers above $80 as U.S inflation eases
▼ + stars: | 2023-07-13 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

LONDON, July 13 (Reuters) - Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in the world's biggest economy are close to their peak. The futures contract structure of the global benchmark Brent indicates the market is tightening and that OPEC could be succeeding in its mission to support the market. The premium of a front month Brent contract to a six-month February 2024 contract rose to $2.64 a barrel on Wednesday. At the end of the June, the front month contract was at a discount to the six month contract. Meanwhile, an OPEC report also published on Thursday, maintained an upbeat world oil demand outlook despite economic headwinds.

Persons: Craig Erlam, Brent, Natalie Grover, Jeslyn Lerh, Laura Sanicola, Jacqueline Wong, Elaine Hardcastle, Barbara Lewis, Conor Humphries Organizations: Brent, U.S, West Texas, OPEC, International Energy Agency, Customs, Thomson Locations: Brent, U.S, Saudi Arabia, Russia, China, India, London, Singapore, Washington

☆ European court denies effort by Venezuela ex-official to avoid US extradition
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

CARACAS, July 13 (Reuters) - The European Court of Human Rights has denied an effort by a former director of Venezuelan military intelligence, wanted on drug trafficking charges by the United States, to avoid extradition from Spain. Carvajal was arrested in September 2021 at a Madrid apartment by Spanish police and is being held in Estremera, outside of the capital. He has denied supporting cocaine trafficking to the United States. "In any event, General Carvajal is looking forward to clearing his name in an American court," Margulis-Ohnuma added. Reporting by Luc Cohen and Vivian Sequera; Writing by Julia Symmes Cobb; Editing by Conor Humphries and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Hugo Carvajal, Hugo Chavez's, Nicolas Maduro, Carvajal, Mr Carvajal Barrios, Zachary Margulis, General Carvajal, Luc Cohen, Vivian Sequera, Julia Symmes Cobb, Conor Humphries, Sandra Maler Organizations: European, of Human Rights, Thomson Locations: CARACAS, United States, Spain, Madrid, Estremera, Aruba

The deal builds out Exxon's plan to develop an emerging market that makes money from reducing its own and others' greenhouse gases. Carbon sequestration is the favored strategy for U.S. oil and gas companies to reduce emissions while continuing to expand oil and gas production. Last year, Exxon struck its first commercial carbon storage deal with top ammonia maker CF Industries. The Denbury deal "reflects our determination to profitably grow our low carbon solutions business," Exxon CEO Darren Woods said in a statement. The all-stock transaction represents a 1.9% premium to Denbury's Tuesday close at 0.84 Exxon shares for each Denbury share.

Persons: Raymond James, Pavel Molchanov, Denbury, Darren Woods, Sabrina Valle, Arathy, Arunima Kumar, Savio D'Souza, Shilpi Majumdar, Conor Humphries Organizations: Denbury, Exxon Mobil Corp, Denbury Inc, Exxon, Linde AG, CF Industries, Carbon Solutions, Thomson Locations: HOUSTON, Plano , Texas, U.S, Texas, Alabama, Houston, Bengaluru

CompaniesLaw Firms Ripple Labs Inc FollowCoinbase Global Inc FollowJuly 13 (Reuters) - Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. An SEC spokesperson said the agency was pleased with part of the ruling in which the judge held that Ripple violated federal securities law by selling XRP directly to sophisticated investors. XRP sales on cryptocurrency platforms by Garlinghouse and co-founder and former CEO Chris Larsen, and other distributions including compensation to employees also did not involve securities, Torres ruled. PARTIAL WIN FOR THE SECThe SEC won a partial victory as Torres found the company's $728.9 million of XRP sales to hedge funds and other sophisticated buyers amounted to unregistered sales of securities. Both the Ripple and Coinbase cases focus on registration requirements and whether certain digital assets are securities under U.S. law.

Persons: XRP, Analisa Torres, Brad Garlinghouse, We’ve, Torres, Paul Grewal, Chris Larsen, Garlinghouse, Larsen, Gary DeWaal, Rosenman, Tom Emmer, Jody Godoy, Chris Prentice, Tom Hals, Chizu Nomiyama, Conor Humphries, Leslie Adler, David Gregorio Our Organizations: Labs, Ripple Labs, U.S, District, U.S . Securities, Exchange Commission, SEC, Twitter, Supreme, WIN FOR, Republican, Thomson Locations: U.S, XRP, Katten, New York, Wilmington , Delaware

REUTERS/Mukesh Gupta/File PhotoNEW DELHI, July 14 (Reuters) - India will not impose countervailing duty (CVD) on select steel products imported from China despite a recommendation from trade officials and lobbying from local steel manufacturers, a government source told Reuters. The decision by the finance ministry aims to protect steel consuming firms from higher prices even though it could hurt local steel manufacturers, the source said. In April DGTR - which is India's trade ministry's arm that investigates unfair trade practices - recommended CVD on some stainless steel flat products. The finance ministry has rejected the recommendation despite steel purchases from China touching a six-year high in April-May period, with imports rising 62%. India's finance and trade ministry did not immediately reply to emails sent after office hours.

Persons: Mukesh Gupta, Nikunj Ohri, Conor Humphries Organizations: REUTERS, Trade, Reuters, Trade Organisation, Jindal Stainless Ltd, Steel Authority of India, Thomson Locations: Jammu, DELHI, India, China

BRUSSELS/PARIS, July 13 (Reuters) - France's foreign minister and government minister have called EU antitrust chief Margrethe Vestager to reconsider her appointment of a U.S. economist and former antitrust official to a senior job at the European Commission overseeing Big Tech. Vestager on Tuesday announced the hiring of Fiona Scott Morton, the former chief economist at the U.S. Department of Justice during former President Barack Obama's tenure. Scott Morton will take up her post on Sept. 1 when the current chief economist, Pierre Regibeau, retires. French foreign minister Catherine Colonna said she was astonished at the appointment. "I invite the @EU_Commission to reconsider their choice."

Persons: Margrethe Vestager, Fiona Scott Morton, Barack Obama's, Scott Morton, Pierre Regibeau, Catherine Colonna, Jean, Noel Barrot, Foo Yun Chee, Conor Humphries Organizations: European Commission, Big Tech, Vestager, Tuesday, U.S . Department of Justice, Charles River Associates, DG, Thomson Locations: BRUSSELS, PARIS, France, Europe

☆ Leaders of Turkey and Greece vow to repair ties after year of tension
▼ + stars: | 2023-07-12 | by ( ) www.reuters.com time to read: +2 min

[1/3] Greece's Prime Minister Kyriakos Mitsotakis meets with Turkey's President Tayyip Erdogan during a NATO leaders summit in Vilnius, Lithuania July 12, 2023. Dimitris Papamitsos/Greek Prime Minister's Office/Handout via REUTERSATHENS, July 12 (Reuters) - Greece and Turkey agreed on Wednesday to resume talks and confidence-building measures as they hailed a new "positive climate" in ties after more than a year of tensions between the historic foes. Relations improved when Greece became one of the first countries to send rescue workers to help pull survivors from the rubble after a devastating earthquake hit Turkey in February. "We are cautiously optimistic we can turn a new page," Mitsotakis told reporters after the summit. Reporting by Renee Maltezou; Additional reporting by Huseyin Hayatsever; Editing by Conor HumphriesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kyriakos Mitsotakis, Tayyip Erdogan, Dimitris Papamitsos, Erdogan, Mitsotakis, Renee Maltezou, Huseyin Hayatsever, Conor Humphries Organizations: NATO, Minister's, REUTERS, Atlantic Treaty Organization, Greek, Cooperation, Thomson Locations: Vilnius, Lithuania, REUTERS ATHENS, Greece, Turkey, Cyprus, United States, Greek, Thessalonki

The Polish diplomat, who declined to be identified citing security concerns, confirmed the role of his advertisement in the digital intrusion. In 2021, U.S. and British intelligence agencies identified APT29 as an arm of Russia's foreign Intelligence Service, the SVR. "Diplomatic missions will always be a high-value espionage target," the Unit 42 report said. That software, Unit 42 said, was disguised as an album of photographs of the used BMW. As for the car, it was still available, the Polish diplomat told Reuters:"I'll try to sell it in Poland, probably," he said.

Persons: James Pearson, Conor Humphries Organizations: Palo Alto Networks, Reuters, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland

☆ Israeli investor says tech sector will overcome judicial reform crisis
▼ + stars: | 2023-07-12 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

... Read moreSummaryCompanies Crucial tech sector hit by judicial reform crisisStartup funding falls 70%, emigration increasingTech execs take lead in opposing reformJERUSALEM, July 12 (Reuters) - A leading Israel investor on Wednesday predicted that the country's vital tech sector would recover quickly from its current funding downturn, in part by fighting a government judicial reform plan many blame for scaring away investment. A key driver of economic growth in Israel, the tech sector saw its funding hit last year by the global economic slowdown. "The big inventors are the warriors of democracy," Margalit told Reuters on the sidelines of a JVP Climate Tech conference. While the tech sector needs a stable Israeli economy, the economy needs a strong tech sector, which accounts for 14% of jobs and almost a fifth of gross domestic product. The fall off in tech funding has been a major factor in the weakening of the shekel , analysts say.

Persons: Erel Margalit, Benjamin Netanyahu's, Margalit, Barak Eilam, Eynat Guez, Israel's shekel, Steven Scheer, Conor Humphries Organizations: Jerusalem Venture Partners, AccorHotels Arena, Tech, Labour Party, Reuters, JVP Climate Tech, NICE, Tel, Thomson Locations: Paris, France, JERUSALEM, Israel, Israel's, Tel Aviv

Persons: James Pearson, Conor Humphries Organizations: Reuters, Palo Alto Networks, Polish Ministry of Foreign Affairs, BMW, Intelligence Service, SVR, NATO, European Union, Unit, U.S . State Department, Technology, Thomson Locations: Ukraine, Ukraine's, Kyiv, Polish, Africa, U.S, Poland

☆ Israel files terrorism charges against two settlers in West Bank rampages
▼ + stars: | 2023-07-12 | by ( Dan Williams | ) www.reuters.com time to read: +2 min

The spree of vandalism and arson by hundreds of settlers in several villages and towns in the occupied West Bank last month followed the June 20 killing of four Israelis by Hamas gunmen. Their goal was "to arouse fear or shock in the community through a grave blow to the sacrosanct," it said. The charges - including disorderly conduct, insulting religion, aggravated arson and aggravated assault - normally carry maximum prison terms ranging between three and 20 years. The Palestinian Foreign Ministry described the settler rampages as "state-sponsored terrorism". Israel's hard-right government includes ministers who chafe at attributing the term terrorism to settlers.

Persons: Dan Williams, Nick Macfie, Conor Humphries Organizations: West Bank, Palestinian Foreign Ministry, Thomson Locations: Orif, Umm Safa

NEW YORK/LONDON, July 11 (Reuters) - One of the world's top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. Prices for U.S. property catastrophe reinsurance rose by as much as 50% at a key July 1 renewal date, broker Gallagher Re said in a recent report. AXA has been trying to reduce the exposure of its AXA XL property and casualty (P&C) division - which houses XL Re - in an effort to make earnings more predictable. This has caused the reinsurance business to shrink, with revenues dropping by nearly a third last year to $3.2 billion, according to AXA's 2022 accounts. In May, American International Group (AIG.N) agreed the sale of its reinsurance arm Validus Re for roughly $3 billion, or about 1.4 times the unit's book value.

Persons: Reinsurers, Hurricane Ian, Gallagher Re, David French, Pablo Mayo, Amy, Jo Crowley, Carolyn Cohn, Echo Wang, Silvia Aloisi, John O'Donnell, Conor Humphries Organizations: AXA SA, XL, Covea, AXA, AXA XL, American International, Fidelis Insurance Holdings, Reuters, Hamilton Insurance, Pablo Mayo Cerqueiro, Thomson Locations: Bermuda, New York, London, Paris

☆ Exclusive: Mexico's Pemex to lose some 100,000 bpd of crude this month after fire -source
▼ + stars: | 2023-07-11 | by ( Ana Isabel Martinez | ) www.reuters.com time to read: +3 min

[1/3] Boats spray water onto an offshore oil platform that caught fire at the Pemex's Cantarell Field, in the Bay of Campeche, Gulf of Mexico, Mexico July 7, 2023. The reduced production implies that in total Pemex will lose at least 2 million barrels of crude through the end of July, according to Reuters estimates. That means output from Pemex's offshore fields, from which the company extracts most of its oil, will be impacted in the meantime. MOUNTING CLAIMSCantarell, which produced more than 2 million bpd of oil two decades ago, currently produces about 170,000 bpd. Along with Ku-Maloob-Zaap, which contributes some 620,000 bpd from Pemex's northeastern marine region, they provide around 41% of the company's total production of 1.9 million bpd of crude and condensate.

Persons: Pemex, Ana Isabel Martinez, Conor Humphries Organizations: REUTERS, Ciudad del Carmen, Thomson Locations: Bay, Campeche, Gulf of Mexico, Mexico, Handout, MEXICO, Ciudad

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