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☆ Iran reroutes plane carrying soccer star's wife, blames UK over unrest
▼ + stars: | 2022-12-26 | by ( ) www.reuters.com time to read: +3 min

A service that could help Iranians circumvent internet restrictions is Starlink, a satellite-based broadband service operated by Elon Musk's SpaceX. Musk said on Monday that the company was getting close to having 100 active Starlink satellite receivers inside Iran. After he voiced support for the protests on social media, authorities this month shut down a jewellery shop and a restaurant he owned. The British foreign ministry had said it was seeking further information from Iranian authorities on the reported arrests. Besides arrests, authorities have imposed travel bans on dozens of artists, lawyers, journalists and celebrities for endorsing the protests.

☆ Sri Lanka's cancer patients struggle amid economic chaos
▼ + stars: | 2022-12-22 | by ( ) www.reuters.com time to read: +6 min

The 32-year-old vegetable farmer was diagnosed with lung cancer in 2021 and started receiving treatment earlier this year just as Sri Lanka's economy went into free-fall. Amid crippling fuel scarcity and weeks of unrest, Kumarasinghe said he was unable to travel the 155 km (96 miles) between his home and Sri Lanka's main cancer hospital on the outskirts of the country's largest city, Colombo, for treatment. Kumarasinghe is among hundreds of cancer patients who have had their treatment upended by Sri Lanka's worst economic crisis since independence from Britain in 1948. Hospitals countrywide have struggled to contend with severe drug shortages, which have worsened over the last eight months, a representative of Sri Lanka's largest doctors union told Reuters. Sri Lanka's health ministry and senior health officials did not respond to calls from Reuters.

☆ 'Qatargate' scandal casts light on 'untouchable' EU lawmakers
▼ + stars: | 2022-12-20 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

BRUSSELS, Dec 20 (Reuters) - As a corruption scandal rocks the European Parliament, lawmakers and campaign groups say a lack of asset declarations, little reporting on contacts with third countries and barely any sanctions created an environment where rule-breaking could go unpunished or undetected. Prosecutors suspect Greek member of the European Parliament (MEP) Eva Kaili and three others accepted bribes from recent soccer World Cup host Qatar in a bid to influence European Union policymaking. The case, widely dubbed "Qatargate" in the media, is one of the biggest scandals to hit the 27-nation bloc. They also urged the European Commission to put forward a proposal for an independent ethics body as soon as possible. ($1 = 0.9433 euros)Reporting by Philip Blenkinsop; additional reporting by Charlotte Van Campenhout; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.

☆ Swiss Christmas decorations store booms as shoppers flock back
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

BASEL, Switzerland, Dec 7 (Reuters) - Christmas can never come too soon for Johann Wanner, the world's biggest purveyor of hand-made festive decorations whose shop in the Swiss city of Basel attracts shoppers from around the world. After these years of closing down (for the pandemic) people are ready to come out and invest in Christmas ornaments," the 83-year-old said. And I need my customers and they do come and help me, 54 years running," Wanner said this week. Christmas fans find unusual designs, traditional jewellery from European glassblowers, and Swiss souvenirs. Sandra Takai, a tourist from Philadelphia shopping at the store, said she was going to spend a little more on Christmas this year.

CNN —England soccer star Raheem Sterling is returning home from the World Cup in Qatar after armed intruders broke into his home while his family were inside, a person with knowledge of the situation told CNN. The incident happened on Saturday evening, the individual told CNN, and Sterling is said to be “shaken” and “concerned” about the well-being of his children after the break-in. “Police were contacted just before 9pm on Saturday December 3rd after the occupants of the property came home and discovered a number of items including jewellery and watches had been stolen,” a spokesperson from Surrey Police told CNN. We’re obviously mindful of him being allowed space and privacy respected so we don’t want to talk in too much detail. The Chelsea forward played in England’s first two games in the group stages of the World Cup and scored in the team’s 6-2 victory against Iran.

☆ Iranian city shops shut after strike call, judiciary blames 'rioters'
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +3 min

DUBAI, Dec 5 (Reuters) - Iranian shops shut their doors in several cities on Monday, following calls for a three-day nationwide general strike from protesters seeking the fall of clerical rulers, with the head of the judiciary blaming "rioters" for threatening shopkeepers. Amini was arrested by Iran's morality police for flouting the strict hijab policy, which requires women to dress modestly and wear headscarfs. Iran's public prosecutor on Saturday was cited by the semi-official Iranian Labour News Agency as saying that the morality police had been disbanded. Security forces would show no mercy towards "rioters, thugs, terrorists", the semi-official Tasnim news agency quoted the guards as saying. Kurdish Iranian rights group Hengaw also reported that 19 cities had joined the general strike movement in western Iran, where most of the country's Kurdish population live.

☆ Russian jeweller Sokolov pivoting to China with Moscow IPO in pipeline
▼ + stars: | 2022-11-29 | by ( Olga Popova | ) www.reuters.com time to read: +2 min

Amid a wave of Russian initial public offerings (IPO) last year, Sokolov said it wanted to list in New York and Moscow in 2023. But Russia sending tens of thousands of troops into Ukraine in February led many companies to reassess IPO plans. The strategic objective is to bring the company into the public arena," Sokolov said. At least 10 companies had been looking to go public in 2022 before Russia's IPO market stalled, but signs of life may be re-emerging. "We want to become a prominent player in the local market within three to five years," Sokolov said.

☆ European retailers downbeat despite Black Friday boost
▼ + stars: | 2022-11-28 | by ( ) www.cnbc.com time to read: +2 min

Europeans snapped up smartphones, Christmas decorations, sweaters and jewellery during a surge in shopping over the Black Friday weekend, though prospects for the festive season remained gloomy, retailers said. A survey of 400 businesses by Germany's HDE retailers' association showed just over half of merchants said they were still dissatisfied with sales last week, versus some 30% who were satisfied. Data from International Card Services showed transaction numbers in Holland up 12% and spending up 30% for the week. "Black Friday has lost some of its meaning for fashion retailers as it's no longer on a single day but spread out over a week or even a month. Retailers are feeling the uncertainty of consumers," Genth said, with inner-city retailers still feeling the impact of COVID-19.

☆ Platinum deficit expected in 2023 after bumper surpluses, WPIC says
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 22 (Reuters) - The World Platinum Investment Council (WPIC) said on Tuesday it expected a deficit of the metal used in vehicle exhausts, industry and jewellery in 2023 after a hefty surplus this year. The World Platinum Investment Council expects the market to swing into deficit in 2023. Manufacturers are also replacing palladium with cheaper platinum to save money, with such substitution accounting for 340,000 ounces of platinum demand this year and just over 500,000 ounces in 2023, the WPIC said. "This could lead to an even further tightening of the platinum market next year," he said. ANNUAL PLATINUM SUPPLY/DEMAND ('000 oz)*QUARTERLY PLATINUM SUPPLY/DEMAND ('000 oz)** Source: World Platinum Investment Council, Platinum Quarterly Q3 2022Reporting by Peter Hobson.

☆ Factbox: What is APEC and which leaders are attending Bangkok summit?
▼ + stars: | 2022-11-18 | by ( ) www.reuters.com time to read: +5 min

[1/5] A general view outside of the Queen Sirikit National Convention Center venue during the Asia-Pacific Economic Cooperation (APEC) summit, at Asoke Junction, in Bangkok, Thailand November 17, 2022. The United States will be the APEC host in 2023. CHINA PRESIDENT XI JINPINGXi met Japanese Prime Minister Fumio Kishida in Bangkok on Thursday for talks. RUSSIA FIRST DEPUTY PRIME MINISTER ANDREI BELOUSOVBelousov will represent President Valadmir Putin at APEC. PAPUA NEW GUINEA PRIME MINISTER JAMES MARAPEMarape will hold meetings with U.S. State Secretary Antony Blinken.

☆ Silver heads for biggest deficit in decades, Silver Institute says
▼ + stars: | 2022-11-18 | by ( Clark Mindock | ) www.reuters.com time to read: +2 min

LONDON, Nov 18 (Reuters) - Global demand for silver is expected to rise 16% this year to 1.21 billion ounces, creating the biggest deficit in decades, according to the Silver Institute on Thursday night. The Silver Institute predicted a deficit of 194 million ounces this year, up from 48 million ounces in 2021. The Silver Institute predicts a 16% increase in demand this year to 1.21 billion ounces. Silver prices have fallen around 10% this year to $21 an ounce, mostly due to financial investors selling silver in response to rising U.S. bond yields and a strengthening dollar. SILVER DEMAND (MILLIONS OF OUNCES)*Source: The Silver Institute, Metals FocusReporting by Peter Hobson; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tata to open 20 'beauty tech' outlets, in talks with foreign brands
▼ + stars: | 2022-11-16 | by ( Aditya Kalra | ) www.reuters.com time to read: +7 min

Tata is in talks with more than two dozen companies to supply exclusive products to the new stores, according to the person familiar with the strategy, who did not name specific brands. Tata declined to comment on its planned beauty stores and the contents of the document seen by Reuters. The store opening plans, still under wraps, follow the recent launch of Tata's beauty shopping app, called Tata CLiQ Palette. The stores will have a bright red facade showing Tata CLiQ Palette branding, with 70% of the products inside being skincare and make up, according to the Tata document. The new stores should drive "sales across channels as a leading Beauty Tech destination for Gen Z & Millennials," the Tata document says.

☆ Malaysia court dismisses govt bid to forfeit millions in assets linked to ex-PM Najib
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

KUALA LUMPUR, Nov 14 (Reuters) - A Malaysian court on Monday struck down a government bid to forfeit millions of dollars in luxury goods seized from jailed ex-premier Najib Razak, finding insufficient evidence linking the assets to unlawful activities, a lawyer for Najib said. Najib was voted out in 2018 amid public anger over his alleged involvement in a multibillion-dollar scandal at state fund 1Malaysia Development Berhad (1MDB). Following his election loss, police seized cash and assets including handbags and jewellery worth nearly $300 million in raids on several properties linked to Najib. Some 114 million ringgit ($24.86 million) was returned to Najib last year after the court dismissed a separate forfeiture bid on the seized cash. The alliance made its way back into power last year under Prime Minister Ismail Sabri Yaakob, after two previous administrations collapsed amid political turmoil.

The maker of IWC and Piaget watches surprised to the upside by reporting sales and operating profit from continuing operations rising by a quarter during the six months to the end of September. Jewellery sales rose by 24% in the period, with customers snapping up collections such as Cartier's Clash and Trinity rings and necklaces. The figures also showed the quality of the group's brands, "particularly its best in class jewellery business", Cox added. But from continuing operations, which removed the impact of the write-down and YNAP's losses, Richemont's profit increased by 40% to 2.1 billion euros. The latest results showed "excellent sales growth, profit and cash flow results", he added.

☆ Luxury group Richemont sounds cautious note on cost-of-living pressures
▼ + stars: | 2022-11-11 | by ( John Revill | ) www.reuters.com time to read: +2 min

Still, from its continuing operations, which removed the impact of the write-down and the contribution from YNAP, Richemont's profit increased by 40% to 2.1 billion euros and profit margins improved. Sales increased by 24% to 9.67 billion euros, helped by a recovery in the Asia Pacific region and double-digit percentage sales growth in all other regions as previously locked-down customers returned to its luxury boutiques. Chairman Johann Rupert described the figures as "another set of strong results," but added a note of caution about the future. "Richemont is well known for giving cautious guidance, which this time is to the point, considering the ongoing tough environment," Bertschy said. ($1 = 0.9785 euros)Reporting by John Revill, Editing by Miranda Murray & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

☆ Pandora braces for recession despite resilient demand
▼ + stars: | 2022-11-08 | by ( Nikolaj Skydsgaard | ) www.reuters.com time to read: +2 min

REUTERS/Andrew KellySummarySummary Companies Third-quarter sales slightly above expectationsCompany maintains guidanceNo signs of weakening demand yetShares up 6.5%COPENHAGEN, Nov 8 (Reuters) - Danish jewellery maker Pandora (PNDORA.CO) reported third-quarter sales just above expectations on Tuesday and said it is braced for recession even though shopper demand has proven resilient in the face of soaring living costs. "Despite macroeconomic and geopolitical uncertainty, the shopping patterns of our consumers are so far largely unchanged," Chief Executive Alexander Lacik said in a statement. Pandora still expects full-year organic growth between 4% and 6% and reaffirmed an outlook for an operating profit margin at 25-25.5%. The company reported third-quarter sales of 5.26 billion Danish crowns ($712.64 million), slightly above an average of 5.16 billion crowns expected by analysts in a poll by the company. Pandora also announced it would pay a total of 5.3 billion crowns to its shareholders this year, equating to about 13% of its market capitalisation.

☆ India's October fuel demand rises on festive season boost
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Consumption in October was 6.7% higher than the previous month, while also up 3.4% year-on-year at 18.37 million tonnes, the data showed. read moreIndian state fuel retailers' diesel sales also surged in October from the previous month, preliminary sales data showed last week, indicating a pickup in industrial activity. read moreSales of gasoline, or petrol, were up 8.8% from 2021 at 2.99 million tonnes, while diesel rose 5.5% at 6.98 million tonnes, the PPAC showed. Cooking gas or liquefied petroleum gas (LPG) sales decreased 3.3% to 2.40 million tonnes, while naphtha sales fell 24% to 0.96 million tonnes. Sales of bitumen, used for making roads, were 11.4% lower, while fuel oil use edged up 1% in October.

☆ Gold heads for weekly loss on hawkish Fed stance
▼ + stars: | 2022-11-04 | by ( ) www.cnbc.com time to read: +1 min

A selection of gold jewellery displayed in the window of a store in the Dubai Gold Souk in Deira, in the United Arab Emirates. Gold prices were little changed on Friday, but the metal was headed for a second straight weekly drop as a stronger dollar and U.S. Federal Reserve 's hawkish policy stance clouded outlook for the non-yielding bullion. Spot gold rose 0.1% at $1,631.33 per ounce, as of 0043 GMT, but it was down 0.6% for the week so far. On Wednesday, the Fed raised interest rates by 75 basis points and Chair Jerome Powell vowed to "keep at" their battle to beat down inflation. Gold is considered an inflation hedge, but rising interest rates dent the non-yielding asset's appeal.

☆ Michael Schumacher's winning Ferrari up for auction in Geneva
▼ + stars: | 2022-11-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Denis BalibouseGENEVA, Nov 4 (Reuters) - The Ferrari driven to five race victories by Michael Schumacher during his World Championship-winning 2003 Formula 1 season is being auctioned next week in Geneva, auction house Sotheby's said on Friday. The red "Chassis 229" Ferrari raced by German world champion driver Schumacher nine times could fetch up to $9.4 million, according to the sellers. Sotheby's is also presenting eight rare "Fancy Blue" diamonds valued at more than $70 million. This colour is the highest possible colour grading for blue diamonds and is awarded to no more than 1% of blue diamonds submitted to the Gemological Institute of America, Sotheby's said. "It is extremely rare and to have a collection of eight it is super exciting," said jewellery specialist at Sotheby's Geneva, Marie-Cécile Cisamolo.

☆ Gold edges higher ahead of key Fed rate verdict
▼ + stars: | 2022-11-02 | by ( ) www.cnbc.com time to read: +1 min

A selection of gold jewellery displayed in the window of a store in the Dubai Gold Souk in Deira, in the United Arab Emirates. Gold prices ticked higher on Wednesday, supported by a pullback in the dollar, although investors were focused on the U.S. Federal Reserve outlook on future pace of interest rate hikes as the central bank's policy meeting concludes later in the day. Spot gold was up 0.2% at $1,650.13 per ounce, as of 0100 GMT, while U.S. gold futures also gained 0.2% to $1,652.10. U.S. job openings unexpectedly rose in September, suggesting demand for labor remained strong, providing evidence that rapid interest rate hikes have yet to bite hard in the real economy. Investors widely expect the Fed will raise its benchmark overnight interest rate by 75 basis points, the fourth such increase in a row.

☆ Vivid pink diamond could go for $35 million at Christie's auction
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +1 min

[1/3] A model shows a 18,18 carat pink diamond called "Fortune Pink" that could fetch 30 million US dollars during a preview at Christie’s before the auction sale in Geneva, Switzerland, November 2, 2022. REUTERS/Denis BalibouseGENEVA, Nov 2 (Reuters) - The largest pear-shaped fancy vivid pink diamond ever put up for auction could sell for up to $35 million at a Christie's sale of rare jewels on Nov. 8, the auctioneer said on Wednesday. It really, really is a gem and something that we haven't seen in a long time at Christie's." The Fortune Pink Diamond is estimated to go for $25 million to $35 million. The largest vivid pink diamond sold at Christie's was the 18.96-carat Winston Pink Legacy, which got $50.4 million in 2018, a world record price per carat for a pink diamond sold at auction.

☆ Record central bank buying lifts global gold demand, WGC says
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 1 (Reuters) - Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday. In total, the world's gold demand amounted to 1,181 tonnes in July-September, up 28% from 922 in the same period in 2021, the WGC said. Among large buyers were the central banks of Turkey, Uzbekistan, Qatar and India. "Looking ahead, we anticipate central bank buying and retail investment to remain strong," said WGC analyst Louise Street. GOLD DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2022Reporting by Peter Hobson Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

☆ Dollar retreats amid better risk sentiment ahead of Fed; Aussie rallies
▼ + stars: | 2022-11-01 | by ( ) www.cnbc.com time to read: +2 min

The risk-sensitive Australian and New Zealand dollars rose from one-week lows amid a broad lift in market sentiment, even as a Reserve Bank of Australia policy decision loomed. "Our general sense is that the dollar probably has peaked, but that doesn't necessarily mean it's coming down." The Fed is widely expected to raise its benchmark overnight interest rate by 75 bps on Wednesday, its fourth such increase in a row. But for the December meeting, Fed funds futures are split on the odds of a 75- or 50-bps increase. Against the yen , the greenback weakened 0.26% to 148.35.

☆ Gold steady as investors brace for Fed policy meeting
▼ + stars: | 2022-10-31 | by ( ) www.cnbc.com time to read: +1 min

A selection of gold jewellery displayed in the window of a store in the Dubai Gold Souk in Deira, in the United Arab Emirates. Gold prices were flat on Monday, after declining about 1.3% in the previous session, as investors cautiously awaited the U.S. Federal Reserve' s policy meeting for cues on its rate-hike path. Spot gold was little changed at $1,642.59 per ounce by 0046 GMT, while U.S. gold futures were up 0.1% at $1,645.90. The European Central Bank (ECB) could hike its interest rates by 75 basis points again at its next policy meeting in December, ECB governing council member Klaas Knot said on Sunday. Spot silver fell 0.3% to $19.17 per ounce, platinum eased 0.2% to $942.60 and palladium rose 0.7% to $1,914.06.

☆ Gold flat; set for weekly gain on hopes of less hawkish Fed stance
▼ + stars: | 2022-10-28 | by ( ) www.cnbc.com time to read: +1 min

Spot gold was flat at $1,663.22 per ounce, as of 0130 GMT but it was up 0.4% for the week so far. The Fed is widely expected to announce another 75 basis-point rate increase at its meeting next week, although the central bank is seen slowing its aggressive pace in December. U.S. rate hikes increase the opportunity cost of holding zero-yielding bullion, while boosting the dollar, in which it is priced. Holdings of SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 0.34% to 925.20 tons on Thursday. Spot silver eased 0.2% to $19.54 per ounce, platinum rose 0.2% to $962.03 and palladium gained 0.5% to $1,951.07.

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