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☆ BOJ policymaker Nakamura warns against premature monetary tightening
▼ + stars: | 2023-08-31 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Tightening monetary policy before rising prices are accompanied by higher wages would hurt domestic demand and corporate profits, Nakamura said. We therefore need more time before shifting to monetary tightening," Nakamura said in a speech to business leaders in the city of Gifu in central Japan. "Close scrutiny of (economic) conditions and cautious decision-making are required when modifying monetary policy," he said, warning against shifting policy too hastily. Governor Kazuo Ueda has said the BOJ must maintain ultra-low rates until there is more evidence that Japan's inflation can sustainably hit 2% backed by solid consumption and wage growth. Reporting by Leika Kihara; Editing by Christian Schmollinger and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Issei Kato, Nakamura, Toyoaki Nakamura, Naoki Tamura, Kazuo Ueda, Leika Kihara, Christian Schmollinger Organizations: Bank of Japan, REUTERS, Nakamura Overseas, Hitachi Ltd, Thomson Locations: Tokyo, Japan, Gifu

☆ Chinese cities ease mortgage rules to revive property sector
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Residential and commercial buildings are located in downtown Guangzhou, China October 7, 2017. REUTERS/Bobby Yip/File photo Acquire Licensing RightsBEIJING, Aug 31 (Reuters) - Major Chinese cities have said they will allow people to take preferential loans for first-home purchases regardless of their credit records, in the latest move to help revive an embattled property sector. Cities including Shenzhen, Guangzhou and Wuhan have made announcements easing mortgage requirements, following central bank guidance last Friday. The province will also ease other mortgage conditions, according to a state-backed local media. Reporting by Ella Cao, Liangping Gao and Liz Lee; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Yip, Ella Cao, Liangping Gao, Liz Lee, Christian Schmollinger Organizations: REUTERS, Rights, Thomson Locations: Guangzhou, China, Rights BEIJING, Cities, Shenzhen, Wuhan, Jiangsu

☆ China says countries should see its national map in 'objective' way
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: 1 min

An employee walks near a sticker in the shape of China's map, at Hongliulin Coal Mine during a Huawei-organised media tour, in Shenmu of Yulin city, Shaanxi province, China April 25, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Aug 31 (Reuters) - China hopes relevant parties can see its 2023 edition of a standard national map in an "objective and rational" way, the foreign ministry said on Thursday. Ministry spokesperson Wang Wenbin made the remarks at a press briefing when asked to comment on reports of some countries, including the Philippines, India and Malaysia, protesting the new map. Reporting by Beijing Newsroom; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Wang Wenbin, Christian Schmollinger Organizations: Huawei, REUTERS, Rights, Beijing, Thomson Locations: Shenmu, Yulin city, Shaanxi, China, Rights BEIJING, Philippines, India, Malaysia

Analysts polled by Reuters prior to the data had estimated on average a draw of 3.3 million barrels. The offshore Gulf of Mexico accounts for about 15% of U.S. oil output and about 5% of natural gas production, according to the Energy Information Administration (EIA). Oil major Chevron Corp CVX.N evacuated some staff from the region, but production was continuing at the sites its operates in the Gulf of Mexico. Oil supply is expected to remain tight as analysts expect Saudi Arabia, the world's biggest oil exporter, will extend its voluntary output cut into October. However, worries about fuel demand and the mixed economic situation in China, the world's biggest oil importer, kept a lid on prices.

Persons: Lucy Nicholson, Toshitaka Tazawa, Yuka Obayashi, Trixie Yap, Christian Schmollinger, Kim Coghill Organizations: REUTERS, Brent, . West Texas, U.S, American Petroleum Institute, Reuters, Fujitomi Securities Co, Hurricane, Energy Information Administration, . Oil, Chevron Corp CVX.N, Capital, Thomson Locations: Bakersfield , California, SINGAPORE, U.S, Gulf, Mexico, Gulf of Mexico, Saudi Arabia, Asia, Gabon, China, Tokyo, Singapore

☆ IMF managing director to meet leaders in China, go to Indonesia, India
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva attends in a round table to discuss global economy during the New Global Financial Pact Summit at the Palais Brongniart in Paris, France June 22, 2023. Ludovic Marin/Pool via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - International Monetary Fund Managing Director Kristalina Georgieva will visit China from Wednesday to meet with top leaders, before travelling to Indonesia and India for ASEAN and Group of 20 summits, an IMF spokesperson said on Tuesday. "During Aug. 30 to Sept. 3 the Managing Director will be visiting China to engage in bilateral discussions with China's senior leadership team," they said. Last month, the IMF raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were curtailing the medium-term outlook. Georgieva will be in Jakarta from Sept. 4 to Sept. 7 and New Delhi from Sept. 8 to Sept. 10, the spokesperson added.

Persons: Kristalina Georgieva, Ludovic Marin, China's, Georgieva, Joe Cash, Jacqueline Wong Organizations: International Monetary Fund, New Global Financial, Palais, Rights, Monetary Fund, China, ASEAN, Group, Association of Southeast Asian Nations, Fund, Thomson Locations: Paris, France, Rights BEIJING, Indonesia, India, China, Jakarta, New Delhi

☆ Russia's military ties with Iran will withstand geopolitical pressure -RIA
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +1 min

Sputnik/Sergei Savostyanov/Pool via REUTERS \File Photo Acquire Licensing RightsAug 26 (Reuters) - Russia's military cooperation with Iran will not succumb to geopolitical pressure, Russian Deputy Foreign Minister Sergei Ryabkov said, following reports that Washington has asked Teheran to stop selling drones to Moscow. "There are no changes, and cooperation with Iran will continue," Ryabkov said, according to a report on Saturday from Russian state news agency RIA. Iran has acknowledged sending drones to Russia but said in the past they were sent before Russia's February 2022 invasion in Ukraine. Moscow has denied its forces used Iranian drones in Ukraine. A White House official said in June that Iran had transferred several hundred drones to Russia since August 2022.

Persons: Vladimir Putin, Ebrahim Raisi, Sergei Savostyanov, Sergei Ryabkov, Washington, Ryabkov, Lidia Kelly, Christian Schmollinger Organizations: Sputnik, Financial Times, Iranian, White, Thomson Locations: Astana, Tehran, Iran, Russian, Teheran, Moscow, United States, Russia, Ukraine, Warsaw

Harrison Floyd is shown in a police booking mugshot released by the Fulton County Sheriff's Office in Atlanta, Georgia, U.S., August 24. Harrison Floyd said at his first court appearance that he could not afford a private lawyer and had been denied representation by a public defender because he did not qualify. Floyd, who appeared virtually, said that it typically cost between $40,000 to $100,000 just to retain a private lawyer to fly to Georgia. Richardson told Floyd that he could either hire a lawyer or represent himself. In a separate case, Floyd was arrested in Maryland in May and charged with assaulting FBI agents who tried to serve him with a subpoena, court records show.

Persons: Harrison Floyd, mugshot, Donald Trump's, Floyd, Emily Richardson, Richardson, bedbugs, Scott McAfee, Trump, Fani Willis, Joe Biden's, Rudolph Giuliani, Misty Hampton, Sidney Powell, Attorney Willis, McAfee, Kenneth Chesebro, Powell, Willis, Jeffrey Clark, Biden, Jack Queen, Andy Sullivan, Luc Cohen, Noeleen, Daniel Wallis Organizations: Fulton County Sheriff's, REUTERS Acquire, Rights, U.S . Department of Justice, Trump, Democratic, U.S . Marine, New, Attorney, Justice, Republican Party, Republican, Christian, Thomson Locations: Fulton, Atlanta , Georgia, U.S, Fulton County, Georgia, Maryland, New York, Atlanta

☆ Suez Canal ship traffic unaffected after tanker collision
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

[1/2] A view of the BW Lesmes tanker at Freeport, Texas, U.S., August 3, 2023, in this picture obtained by Reuters. The two tankers, the Singapore-flagged liquefied natural gas (LNG) carrier BW Lesmes and the Cayman Islands-flagged oil products tanker Burri, briefly collided in the canal, ship tracking company MarineTraffic said early on Wednesday citing eyewitnesses. As of 5 a.m. (0200 GMT), the BW Lesmes was facing north but being towed to the south by two tugboats, according to ship tracking data on Refinitiv Eikon. A person who answered the phone at the Suez Canal Authority's operations room when contacted by Reuters said he could not provide any information on the tankers. The Suez Canal is one of the world's busiest waterways and the shortest shipping route between Europe and Asia.

Persons: Glenn Travis, MarineTraffic, Osama Rabie, Yusri Mohamed, Muhammad Al Gebaly, Nafisa, Enas Alashray, Florence Tan, Cynthia Osterman Organizations: BW, Reuters, REUTERS Acquire, Rights, Shipping, BW Group, TMS, Thomson Locations: Freeport , Texas, U.S, Rights CAIRO, Singapore, Cayman, Suez, Europe, Asia

☆ South Korea sees no scientific problem with Fukushima water release plan
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +1 min

An aerial view shows the storage tanks for treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan August 22, 2023, in this photo taken by Kyodo. Mandatory credit Kyodo via REUTERS Acquire Licensing RightsSEOUL, Aug 22 (Reuters) - South Korea said on Tuesday it sees no problem with the scientific or technical aspects of Japan's plan to release water from the wrecked Fukushima nuclear power plant but it does not necessarily support the plan. "We have assessed that there are no scientific or technical problems with the plan to release the contaminated water," it said. "But we want to make clear that our government does not necessarily agree with or support the plan to release contaminated water," the statement said. The country's opposition Democratic Party, however, said on Tuesday that its "battle" to stop the release would continue, calling Japan's plan "selfish and irresponsible."

Persons: Yoon Suk Yeol, Jack Kim, Hyonhee, Christian Schmollinger Organizations: Kyodo, REUTERS Acquire, Rights, South, Democratic Party, Thomson Locations: Okuma, Fukushima prefecture, Japan, Rights SEOUL, South Korea, Seoul

[1/2] A police officer holds up crime scene tape to allow people to leave after a shooting incident at the West Edmonton Mall in Edmonton, Alberta, Canada August 21, 2023. REUTERS/Kyaw Soe Oo Acquire Licensing RightsAug 22 (Reuters) - Three people suffered serious injuries in a shooting incident at a mall in Edmonton, the capital of the Canadian province of Alberta, city police said on Monday in a post on X, formerly known as Twitter. The victims of Monday's incident at the West Edmonton mall have been taken to hospital for treatment, although the injuries are not life-threatening, the police said. Other staff asked people to gather in a safe area away from doors and windows, another mall visitor said. Reporting by Anirudh Saligrama and Kyaw Soe Oo; Editing by Christian Schmollinger and Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Anirudh Saligrama, Soe, Christian Schmollinger, Clarence Fernandez Organizations: West Edmonton Mall, REUTERS, Twitter, West, Reuters, Thomson Locations: Edmonton , Alberta, Canada, Edmonton, Canadian, Alberta, West Edmonton

☆ Meta to soon launch web version of Threads in race with X for users
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

Meta Threads app logo is seen in this illustration taken, July 6, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsAug 20 (Reuters) - Meta Platforms (META.O) is set to roll out the web version on its new text-first social media platform Threads, hoping to gain an edge over X, formerly Twitter, as the initial surge in users waned. The widely anticipated web version will make Threads more useful for power users like brands, company accounts, advertisers and journalists. Meta did not give a date for the launch, but Instagram head Adam Mosseri said it could happen soon. It will soon roll out an improved search that could allow users to search for specific posts and not just accounts.

Persons: Dado Ruvic, Meta, Adam Mosseri, Mosseri, Yuvraj Malik, Gokul, Christian Schmollinger, Arun Koyyur Organizations: REUTERS, Street, Thomson Locations: Bengaluru

☆ South Korea will cooperate more with US, Japan if North's threats continue
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

[1/2] U.S. President Joe Biden holds a joint press conference with Japanese Prime Minister Fumio Kishida and South Korean President Yoon Suk Yeol during the trilateral summit at Camp David near Thurmont, Maryland, U.S., August 18, 2023. REUTERS/Jim Bourg/File Photo Acquire Licensing RightsSEOUL, Aug 21 (Reuters) - South Korean President Yoon Suk Yeol said on Monday trilateral cooperation with the United States and Japan will grow stronger if North Korea's threats increase. The summit at the Camp David presidential retreat was the first standalone meeting between the U.S. and Japan and South Korea, as they seek to project unity in the face of China's growing power and nuclear threats from North Korea. Yoon said the trilateral cooperation did not exclude other countries, and that it would contribute to freedom, peace and prosperity in the region and the world. Reporting by Soo-hyang Choi, Ju-min Park and Jihoon Lee; Editing by Christian Schmollinger and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Fumio Kishida, Yoon Suk, Camp David, Jim Bourg, Yoon Suk Yeol, Yoon, Soo, hyang Choi, Jihoon Lee, Christian Schmollinger, Stephen Coates Organizations: Japanese, South, REUTERS, Rights, U.S, Camp, Thomson Locations: Camp, Thurmont , Maryland, U.S, Rights SEOUL, United States, Japan, South Korea, Britain, Australia, India, North Korea

☆ Meta to launch web version of Threads App early next week - WSJ
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: 1 min

Aug 20 (Reuters) - Meta Platforms (META.O) plans to launch a web version of its microblogging app Threads early next week, the Wall Street Journal reported on Sunday, citing people familiar with the matter. Reporting by Gokul Pisharody in Bengaluru; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

Persons: Gokul, Christian Schmollinger Organizations: Wall Street, Thomson Locations: Bengaluru

☆ World Jesuit leader condemns Nicaragua government closure of university
▼ + stars: | 2023-08-18 | by ( Philip Pullella | ) www.reuters.com time to read: +2 min

[1/5] A guard mans the access to the Jesuit Central American University (UCA) in Managua, Nicaragua August 16, 2023. REUTERS/Stringer Acquire Licensing RightsAug 18 (Reuters) - The superior general of the worldwide Jesuit religious order has condemned the closure of its university in Nicaragua as part of a government attempt to "suffocate" the Catholic Church and civic institutions in the Central American country. The United States has condemned the confiscation of the assets of the Central American University (UCA) as a further erosion of democracy. The government's action against UCA, other Catholic institutions and civic organisations, was aimed at "suffocating, closing or appropriating them", Sosa said. Vatican officials see the oppression of the Church in Nicaragua as one of the worst since the Cold War, when many communist countries in Eastern Europe persecuted the Church.

Persons: Stringer, Father Arturo Sosa, Sosa, Father Jose Domingo Cuesta, Daniel Ortega, Arturo, Philip Pullella, Christian Schmollinger, Robert Birsel Organizations: Jesuit Central American University, UCA, REUTERS, Catholic Church, Central American, order's Central, Reuters, The United, Central American University, Nicaraguan, Central America, Nicaragua's Catholic Church, Thomson Locations: Managua, Nicaragua, The United States, Rome, Venezuelan, Eastern Europe, Antonio

With equipment idling as construction slows and dwindling exports curb manufacturing, diesel demand is likely to ebb. Rystad Energy lowered its forecast for China's diesel demand for July to December this year to 3.81 million barrels per day (bpd) from an earlier outlook of 3.9 million bpd, though the new forecast is up 3.8% from the first half of 2023. "Diesel demand is still growing, but at a lower-than-expected rate," said Lin Ye, a Beijing-based downstream analyst at Rystad, citing the ailing property sector and deteriorating trade environment. An uptick in Chinese diesel demand earlier this year, driven by resurgent road freight transport in the first quarter, has lost momentum. August diesel exports are estimated at 650,000 to 800,000 tons, down from July's estimate of 1 million tons, data compiled by consultancy Longzhong and China-based trading analysts showed.

Persons: Aly, Lin Ye, Xia Shiqing, Wood Mackenzie, Mia Geng, Andrew Hayley, Trixie Yap, Christian Schmollinger Organizations: REUTERS, Rights, Energy, International Energy Agency, IEA, Reuters, Reuters Graphics Reuters, Reuters Graphics, Thomson Locations: Huangpu, Shanghai, China, Rights BEIJING, Beijing, Asia, Longzhong, Singapore

☆ Analysis: Country Garden undone by promise to bring 5-star life to China's hinterland
▼ + stars: | 2023-08-16 | by ( Clare Jim | ) www.reuters.com time to read: +4 min

The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Smaller Chinese cities, whose revenues have already been deteriorating, could have a glut of unfinished homes, a social problem Beijing is trying to avoid. But as China's economy started slowing during and after its COVID-19 lockdowns, property sales in those areas has plummeted along with values of the homes themselves. Country Garden's sales in 2020 were 570.7 billion yuan ($78.22 billion), but that slipped to 357.5 billion yuan in 2022. Country Garden has nearly 1 million homes to complete, according to estimates from Japanese investment bank Nomura.

Persons: Aly, HONG KONG, Oscar Choi, Yang Huiyan, Lu Ting, Nomura, Gerwin Bell, Clare Jim, Liangping Gao, Matt Tracy, Davide Barbuscia, Christian Schmollinger Organizations: Shanghai Country Garden, REUTERS, Country, HK, National Bureau, Statistics, Partners Capital, China Evergrande, Oxford Economics, Nomura, Thomson Locations: Shanghai, China, HONG, Beijing, Dezhou, Hong Kong, Asia, Washington, New York

Total refinery throughput in the world's second-largest oil consumer was 63.13 million metric tons last month, data from the National Bureau of Statistics (NBS) showed. Production was up slightly from the 14.83 million bpd of oil processed in June. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data. The NBS data on Tuesday also showed China's domestic crude oil production in July was 17.31 million metric tons, or 4.1 million bpd, versus 17.13 million metric tons in 2022.

Persons: Dominique Patton, refiners, Production, Andrew Hayley, Jacqueline Wong Organizations: Shandong Haiyou Petrochemical Group, REUTERS, National Bureau of Statistics, Reuters, Zhuochuang, Thomson Locations: Shandong, county, Shandong province, China, BEIJING

☆ Tesla cuts prices in China for select Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Companies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla (TSLA.O) on Monday said it has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, sending its shares lower on concern of further pressure on its profit margins. The electric-car company reduced the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Visitors wearing face masks check a China-made Tesla Model Y sport utility vehicle (SUV) at the electric vehicle maker's showroom in Beijing, China January 5, 2021. Last month, Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Tesla, Chris McNally, Tingshu Wang, Elon Musk, Liz Lee, Samrhitha Arunasalam, Akash Sriram, Christian Schmollinger, Tom Hogue, Sharon Singleton Organizations: Tesla Inc, BEIJING, REUTERS, Deutsche Bank, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: China, U.S, Europe, Beijing, United States, Tesla's China, Bengaluru

☆ Shanghai Exchange urges bankers to closely vet Chinese medical firms IPOs - sources
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

A men wearing a mask walk at the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 3, 2020. REUTERS/Aly Song/File PhotoSHANGHAI, Aug 14 (Reuters) - The Shanghai Stock Exchange has urged bankers to pay close attention to the marketing practices of Chinese drug and medical equipment makers seeking initial public offerings (IPOs) amid an escalating anti-corruption drive in the sector, sources said. The Shanghai exchange declined to comment. Bankers should carefully examine if the company, controlling shareholders or actual controllers conduct bribery in marketing activities, the exchange said in the publication. The bourse also asked bankers to check the authenticity of the marketing expenses and urged companies to fully disclose information in their prospectus.

Persons: Aly, Christian Schmollinger Organizations: Shanghai Stock Exchange, REUTERS, bourse, Reuters, Bankers, Shanghai, Thomson Locations: Pudong, Shanghai, China

☆ Tesla cuts prices in China for some Model Y versions
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

The logo of car manufacturer Tesla is seen at a branch office in Bern, Switzerland October 28, 2020. REUTERS/Arnd Wiegmann/File PhotoCompanies Tesla Inc FollowBEIJING, Aug 14 (Reuters) - Tesla Inc (TSLA.O) has cut prices in China for its Model Y long-range and performance versions starting on Aug. 14, the company said in a notice on Monday. The car company dropped the starting prices of both models by 14,000 yuan ($1,934.58). The Model Y Long Range's starting price drops 4.5% to 299,900 yuan and the starting price of the Model Y Performance is now 349,900 yuan, down 3.8%. Last month Tesla CEO Elon Musk said further price cuts were a possibility, even if it squeezed the automaker's margins.

Persons: Arnd, Tesla, Elon Musk, Liz Lee, Christian Schmollinger, Tom Hogue Organizations: REUTERS, Inc, BEIJING, Tesla Inc, Tesla's, China Passenger Car Association, Shanghai, Thomson Locations: Bern, Switzerland, China, United States, Tesla's China

☆ China's Hebei province plans for two years of post-flood reconstruction
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

Wang Dan, 30, stands in floodwaters near a damaged corn farm, after rain and floods brought by remnants of Typhoon Doksuri, at a village in Zhuozhou, Hebei province, China August 7, 2023. REUTERS/Tingshu Wang/File PhotoBEIJING, Aug 11 (Reuters) - China's northern province of Hebei may spend two years carrying out post-flood reconstruction, state media China News Service reported on Friday. Almost 5% of Hebei's 74.2 million residents were affected by the floods, with over 40,000 homes destroyed a further 155,500 houses seriously damaged, officials said. The province will make sure affected residents can move back to their homes or have new homes before this winter, China News Service reported, citing a briefing by officials. Reporting by Laurie Chen and Beijing newsroom; Editing by Christian Schmollinger and Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Dan, Doksuri, Tingshu Wang, Laurie Chen, Christian Schmollinger Organizations: REUTERS, China News Service, Thomson Locations: Zhuozhou, Hebei province, China, BEIJING, Hebei, Beijing

☆ Early adopters in Mexico lend their eyes to global biometric project
▼ + stars: | 2023-08-08 | by ( Anna Portella | ) www.reuters.com time to read: +2 min

REUTERS/Annegret HilseMEXICO CITY, Aug 8 (Reuters) - Eager early adopters recently descended upon a Mexico City cafe where their eyes were scanned by a futuristic sphere, part of an ambitious project that ultimately seeks to create a unique digital identification for everyone on the planet. The so-called Worldcoin project is a biometric verification tool led by Sam Altman, the chief executive of Open AI, and the crypto company he co-founded, Tools for Humanity. After the orb scanner captures each user's iris, it converts the image into a unique numerical code called an iris code, which Sadle stressed can only be used to prove the user's identity. "The image on default is deleted and the only piece that is kept is the iris code." "They don't clearly mention the time frame in which the biometric data they collect will be processed and retained," she said, adding that the ownership of the iris code is also unclear.

Persons: Sam Altman, Jose Incera, Sam Sadle, Sadle, Agneris, Anna Portella, David Alire Garcia, Christian Schmollinger Organizations: REUTERS, MEXICO CITY, Humanity, Thomson Locations: cryptocurrency, Berlin, Germany, Annegret, MEXICO, Mexico City, Mexico, Worldcoin's

☆ Cambodia king approves nomination of Hun Manet as next PM
▼ + stars: | 2023-08-07 | by ( Prak Chan Thul | ) www.reuters.com time to read: +2 min

[1/2] Hun Manet, son of Cambodia's Prime Minister Hun Sen is seen at a polling station on the day of Cambodia's general election, in Phnom Penh, Cambodia, July 23, 2023. REUTERS/Cindy Liu/File PhotoPHNOM PENH, Aug 7 (Reuters) - Cambodia's king has approved the nomination the eldest son of Prime Minister Hun Sen to become the next premier, according to a decree published on Monday, confirming a long-awaited transition of power. Hun Manet, 45, was educated in the United States and Britain, where has received a master decree and doctorate respectively, both in economics. Hun Manet has said little of his vision for the country. Reporting by Prak Chan Thul; Writing by Martin Petty; Editing by Christian Schmollinger, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Hun Manet, Cambodia's, Hun Sen, Cindy Liu, Western, Prak Chan Thul, Martin Petty, Christian Schmollinger, Robert Birsel Organizations: REUTERS, Telegram, National Assembly, Cambodian People's Party, Point, Thomson Locations: Phnom Penh, Cambodia, PHNOM PENH, Khmer, United States, Britain

REUTERS/Jennifer Hiller/File PhotoSINGAPORE, Aug 4 (Reuters) - Surging U.S. crude exports in 2023 are pushing down oil prices in Europe and Asia, proving a key source of supply as producers cut output and sanctions on Russian crude disrupt trade flows. U.S. crude exports are also easing the loss of supply after Saudi Arabia deepened output cuts from July, above what major producers agreed to in June. The widening exports illustrate the increasing influence of crude from the U.S., the world's biggest oil producer, in the global market. U.S. crude exports have averaged 4.08 million barrels per day so far in 2023, up from an average of 3.53 million bpd in 2022, according to the Energy Information Administration. PRESSURE EXTENDSThe pressure exerted from the WTI Midland exports is even extending to Asian markets for Middle Eastern crude.

Persons: Jennifer Hiller, Brent, it's, Joel Hanley, Rohit Rathod, Adi Imsirovic, John Evans, Muyu Xu, Alex Lawler, Arathy, Florence Tan, Simon Webb Organizations: REUTERS, Midland, P, Energy Information Administration, WTI Midland, United, Dubai, Surrey Clean Energy, Gazprom Marketing, Organization of, Petroleum, Exchange, Futures, Thomson Locations: Texas, U.S, SINGAPORE, Europe, Asia, Saudi Arabia, United Arab Emirates, Midland, Dubai, Africa, Brazil, Singapore, WTI, Saudi, London, Houston

Both benchmarks were on track for a sixth week of gains, their longest streak of weekly gains this year. Saudi Arabia on Thursday extended a voluntary oil production cut of 1 million barrels per day (bpd) to the end of September. Russia will also slash its oil exports by 300,000 bpd in September, its Deputy Prime Minister Alexander Novak said. The Joint Ministerial Monitoring Committee of OPEC+ is unlikely to tweak its overall oil output cuts at its meeting on Friday, sources have said. But the extension of Saudi Arabia's reductions and comments by Russia ahead of the OPEC+ meeting have raised supply concerns, supporting prices.

Persons: Brent, Alexander Novak, Edward Moya, Tina Teng, Teng, Arathy Somasekhar, Christian Schmollinger, Simon Cameron, Moore Organizations: Saudi, Brent, U.S, West Texas, Ministerial, OPEC, U.S . Federal Reserve, Bank of England, CMC, Thomson Locations: Russia, U.S, SINGAPORE, Saudi Arabia, Saudi, Houston, Singapore

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