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TAIPEI (Reuters) - Taiwan's defence ministry said it detected 14 Chinese air force planes operating around Taiwan and carrying out "joint combat readiness patrols" with Chinese warships on Wednesday. Taiwan's defence ministry said that starting around 1 p.m. (0500 GMT) on Wednesday it had detected 14 Chinese aircraft including J-16 fighters and drones operating off northern and southwestern Taiwan. Nine of those aircraft crossed the Taiwan Strait's median line, or areas close by, working with Chinese warships to carry out "joint combat readiness patrols", the ministry added. There was no immediate response from China's defence ministry. Photos You Should See View All 22 ImagesTaiwan sent its own forces to monitor, its defence ministry said.
Persons: Lai Ching, Lai, Ben Blanchard, Muralikumar Anantharaman, Sonali Paul Organizations: Taiwan Locations: TAIPEI, Taiwan, China, Taipei
(Reuters) - Russia's parliament will vote on Feb. 21 on suspending the country's participation in the Parliamentary Assembly of the Organization for Security and Co-operation (OSCE), Duma Speaker Vyacheslav Volodin said on Tuesday. Since Russia's invasion of Ukraine, the organisation has been largely paralysed by Moscow's ongoing use of the effective veto each country has. "It's time for us to say goodbye to the OSCE Parliamentary Assembly," Volodin said at a meeting of the Duma, the lower house of Russia's parliament, according to a statement on the Duma's website. The Latest Photos From Ukraine View All 91 ImagesBoth chambers of the Russian parliament, the Duma and the Federation Council, will vote simultaneously on suspending participation and on stopping Moscow's payments to the OSCE, Volodin said. Ukraine and its Baltic allies, which are Russia's neighbours, refused to attend the OSCE annual foreign ministers meeting late last year over the presence of Russia's Foreign Minister Sergei Lavrov there.
Persons: Vyacheslav Volodin, Volodin, Vladimir Putin, Sergei Lavrov, Lidia Kelly, Oleksandr Kozhukhar, Sonali Paul Organizations: Reuters, Organization for Security, OSCE, Soviet, OSCE Parliamentary Assembly, Duma, Federation Council, United, Russia's Locations: Parliamentary, Ukraine, U.S, Russia, Washington, United Russia, Baltic
What's Next in Pakistan Election Deadlock
  + stars: | 2024-02-11 | by ( Feb. | At A.M. | ) www.usnews.com   time to read: +3 min
By Gibran Naiyyar PeshimamISLAMABAD (Reuters) - Pakistan's national election ended with no party winning a majority in parliament, in polls marred by militant violence, political turmoil and questions of transparency. The two, along with other smaller parties, form a coalition government in which Sharif or his brother is prime minister and important positions are given to other parties. The two parties were in government together for 16 months till August, with Bhutto Zardari as foreign minister and Sharif's brother Shehbaz as prime minister. BHUTTO ZARDARI PUSHES TO HEAD COALITION GOVERNMENTWhile Sharif and Khan's candidates won the most seats, no party can form government without the PPP. With both looking to keep the other out of power, the PPP strikes a deal to make the young Bhutto Zardari prime minister.
Persons: Gibran Naiyyar Peshimam, Nawaz Sharif, Imran Khan, SHARIF, Bilawal Bhutto Zardari, Benazir Bhutto, Bhutto Zardari, Shehbaz, Khan, BHUTTO ZARDARI, Sharif's, Gibran Peshimam, Sonali Paul Organizations: Monetary Fund, National Assembly, Pakistan Peoples Party Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, Pakistan
(Reuters) - Russia launched drone attacks overnight on Kyiv and southern Ukraine, injuring at least one civilian and damaging a gas pipeline and residential buildings in the river and sea port of Mykolaiv, Ukraine's military said on Sunday. Photos You Should See View All 21 ImagesAt least one civilian was injured in the southern Ukraine attack, the military said. Falling debris from a downed drone and the blast wave damaged residential buildings and a gas pipeline in Mykolaiv, the military command said. Four drones downed over the Black Sea port of Odesa, the military said. Both Russia and Ukraine have increased their air attacks away from the frontline in recent months, targeting each other's critical energy, military and transport infrastructure.
Persons: Serhiy Popko, Lidia Kelly, William Mallard, Sonali Paul Organizations: Reuters, Ukraine's Air Force, Kyiv Locations: Russia, Kyiv, Ukraine, Mykolaiv, Skies, Odesa, Melbourne
Qatar Frees Eight Indians Arrested in 2022 - India Government
  + stars: | 2024-02-11 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +1 min
(Reuters) - Qatar has released eight Indian ex-naval officers after dropping death sentences imposed on them last year, India's foreign ministry said on Monday. The eight men, who were condemned to death in October, had been accused of spying for Israel, according to sources, though India and Qatar did not confirm the charges. "We appreciate the decision by the Amir of the State of Qatar to enable the release and home-coming of these nationals," the ministry said, adding that seven out of the eight have returned to India. The eight Indian nationals, who were working on a submarine project with a private company for the Qatari authorities, were arrested in 2022. War in Israel and Gaza View All 206 ImagesMore than 800,000 Indian citizens live and work in Qatar, which is also a significant provider of natural gas for India.
Persons: Amir, Shivani Tanna, Sonali Paul Organizations: Reuters, Qatari Locations: Qatar, Israel, India, State, Gaza, Bengaluru
MANILA (Reuters) - The Philippines' coast guard (PCG) on Sunday accused China of "dangerous and blocking" maneuvers while its vessel patrolled near Scarborough Shoal in the South China Sea this month. Four Chinese maritime militia vessels were also present near the shoal, the PCG said. Located within the Philippines' exclusive economic zone (EEZ), Scarborough shoal is also claimed by China, making it one of Asia's most contested maritime features and a flashpoint for flare-ups. The PCG said its vessel was in the area to protect Filipino fishermen "from further harassment" in their traditional fishing ground. China claims almost the entire South China Sea, a conduit for more than $3 trillion in annual ship commerce.
Persons: Teresa Magbanua, BRP Teresa Magbanua, Hague, China's, Mikhail Flores, Sonali Paul Organizations: Sunday, BRP, CCG Locations: MANILA, Philippines, China, Scarborough Shoal, South China, Manila's, Manila, Scarborough, Vietnam, Indonesia, Malaysia, Brunei, Beijing
Taiwan Reports More Chinese Balloons Over Taiwan Strait
  + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +2 min
TAIPEI (Reuters) - Taiwan's defence ministry said on Sunday it had detected eight Chinese balloons crossing the Taiwan Strait in the previous 24 hours, of which five flew across Taiwan, the second day in a row is has reported a large number of balloons. In its daily report on Chinese military activities, Taiwan's defence ministry said it spotted the first balloon on Saturday morning and the last one mid-afternoon, having spotted the same number of balloons on Friday. China's defence ministry did not answer calls seeking comment on Sunday. Both China and Taiwan are currently celebrating the Lunar New Year holiday, the most important festival in the Chinese-speaking world. Chinese warplanes operate daily in the Taiwan Strait and often cross its median line that previously served as an unofficial barrier between the two sides.
Persons: China's, Lai Ching, Lai, Ben Blanchard, William Mallard, Sonali Paul Locations: TAIPEI, Taiwan, China, Taipei, United States
Philippine Landslide Death Toll Climbs to 35
  + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com   time to read: +1 min
MANILA (Reuters) - The number of people killed by a landslide in the southern Philippines has risen to 35, an official said on Sunday, as rescue workers continued to dig through mud even as hope of finding more survivors dimmed. Macapili said over 300 people were involved in the rescue, but operations were being hampered by heavy rain, thick mud and the threat of further landslides. Asked if there were still survivors, Macapili said it was already "unlikely", but the search would continue. "The rescue team is doing its best, even if it's very difficult," Macapili said. Torrential rains have battered Davao de Oro in recent weeks, triggering floods and landslides.
Persons: Apex Mining Edward Macapili, Macapili, Mikhail Flores, Sonali Paul Organizations: Apex Mining Locations: MANILA, Philippines, Maco, Davao de Oro
TAIPEI (Reuters) - Taiwanese companies are not being affected much by disruptions to the key shipping lane of the Red Sea as it has coincided with the traditional low season in demand for exporters, Economy Minister Wang Mei-hua said on Monday. Some shipping companies have suspended transit along the Red Sea route to avoid being attacked by Yemen's Iranian-backed Houthi group, which has launched waves of exploding drones and missiles at vessels since November in response to Israel's military operations in Gaza. The Houthi attacks have primarily targeted container vessels moving through the Red Sea. Taiwanese container shipping line Evergreen Marine said in December that ships scheduled to pass through the Red Sea would be rerouted around Africa's Cape of Good Hope. Speaking to reporters in Taipei, Wang said her ministry had spoken with 14 industry groups as well as companies to gauge the impact of the Red Sea disruptions.
Persons: Wang Mei, Good Hope, Wang, Ben Blanchard, Sonali Paul Organizations: Evergreen Locations: TAIPEI, Gaza, Africa's, Good, Taipei, Israel, Europe, Ukraine, Taiwan
By Lucy CraymerWELLINGTON (Reuters) - A New Zealand Green Party parliamentarian resigned on Monday after it was alleged by media she had shoplifted at high end local boutiques on at least three occasions. It’s not a behaviour I can explain because it’s not rational in any way, and after medical evaluation, I understand I’m not well," her statement said. New Zealand Police said in a statement they were investigating an incident at a Ponsonby store in December but would not give any other details. Ghahraman said that she thanked Scotties Boutique for their kindness and empathy. Green Party co-leader James Shaw said that while parliament was a stressful place for everybody, Ghahraman had a particularly difficult time as she had received numerous threats from members of the public since arriving in office.
Persons: Lucy Craymer WELLINGTON, Golriz Ghahraman, Ghahraman, James Shaw, Lucy Craymer, Sonali Paul Organizations: Reuters, Zealand Green Party, Local, Wellington . New Zealand Police, Ponsonby, Boutique, Green Party Locations: Ponsonby, Auckland, Cre8iveworkz, Wellington .
BEIJING (Reuters) - China Foreign Minister Wang Yi said the war in Gaza continues to escalate and China is calling for a larger-scale, more authoritative and effective international peace conference and a concrete timetable to implement a two-state solution. Wang made the comments to reporters after talks with the Egyptian Foreign Minister Sameh Shoukry in Cairo, sharing his views on the Israel-Hamas war, according to a statement from the Chinese foreign ministry late on Sunday. Wang, China's top diplomat, is currently travelling through Egypt, Tunisia, Togo and the Ivory Coast until Thursday. Wang said the infrastructure of the Gaza Strip has been completely destroyed, with millions struggling to survive. He said China has decided to provide a third tranche of emergency humanitarian assistance.
Persons: Wang Yi, Wang, Sameh Shoukry, Ahmed Aboul Gheit, Bernard Orr, Sonali Paul, Michael Perry Organizations: China Foreign, Egyptian Foreign, League of, Xinhua, West Bank Locations: BEIJING, Gaza, China, Cairo, Israel, Egypt, Tunisia, Togo, Ivory Coast, League of Arab, East Jerusalem
"There cannot be any pressure on India to cut down emissions," India's power and renewable energy minister R.K. Singh said on Nov. 30. ASIAN EMISSIONS RISETo be sure, fast-growing Asia, home to half the world's population, accounts for three-fifths of global emissions from power generation, including from sectors exporting goods and services to the west. Despite challenges, Asia, along with Europe and North America, have cut the share of coal in power use, although at a slower pace. Cuts in nuclear power have slowed Europe and North America's fight to reduce emissions, although nuclear's share of their power mix remains well above Asia's. The share of gas in power generation has risen in the West, with the fuel accounting for a shrinking share in Asia.
Persons: Tingshu Wang, R.K, Singh, Hogeveen Rutter, Rutter, ISA's Rutter, Sudarshan Varadhan, Tony Munroe, Sonali Paul Organizations: Huawei, REUTERS, U.S, European Union, North America, International Solar Alliance, Reuters, WEST, North, Institute for Energy Economics, Thomson Locations: Shaanxi, China, Asia, SINGAPORE, America, Europe, India, North America, Paris, North, North America Asia, West Asia, West, Indonesia
LONDON, Dec 4 (Reuters) - Spanish luxury brand Loewe's creative director Jonathan Anderson won designer of the year at Britain's annual Fashion Awards on Monday, where industry leaders and young creative talent were honoured. Anderson, who founded the fashion label JW Anderson, arrived accompanied by actress Taylor Russell. Italian designer Valentino Garavani, known to the world simply as Valentino, was honoured with this year's outstanding achievement award. Stars attending the event also included actors Gwyneth Paltrow, Tessa Thompson and Pamela Anderson and model Kate Moss. The show is a fundraiser for the British Fashion Council (BFC) Foundation which focuses on supporting the growth and success of the UK's fashion industry.
Persons: Jonathan Anderson, Anne Hathaway, Lewis Hamilton, Amal Clooney, Anderson, JW Anderson, Taylor Russell, Valentino Garavani, Valentino, Paloma Elsesser, Edward Enninful, Maya Jama, Kojey, Sam Smith, Gwyneth Paltrow, Tessa Thompson, Pamela Anderson, Kate Moss, Hanna Rantala, Sonali Paul Organizations: London's Royal Albert Hall, British Vogue, British, Stars, British Fashion Council, BFC, Foundation, Thomson Locations: Italian
LAUNCESTON, Australia, Dec 4 (Reuters) - The two main spot prices for iron ore diverged last week, with Singapore-traded contracts gaining but China's domestic futures posting a decline. The exchange said on Nov. 30 that it will continue to strengthen its supervision of iron ore futures to maintain what it termed the safe and stable operation of the market. But despite the travails of the property sector, China's iron ore imports have been relatively robust so far in 2023. In the same week last year iron ore stockpiles were 137.5 million metric tons and were 155.4 million in the same week on 2021. History suggests that the authorities can cool iron ore prices, but only for a relatively short period, especially if the market conditions are supportive for stronger prices.
Persons: Sonali Paul Organizations: Singapore Exchange, Dalian Commodity Exchange, National Development, Reform, it's, Reuters, Thomson Locations: LAUNCESTON, Australia, Singapore, Beijing, Dalian
Reaction to the death of US diplomat Henry Kissinger
  + stars: | 2023-11-30 | by ( ) www.reuters.com   time to read: +4 min
Former U.S. Secretary of State Henry Kissinger addresses the House Committee on International Relations in a hearing about the Middle East peace process on Capitol Hill, Washington, U.S. on February 10, 2005. REUTERS/Jonathan Ernst/File Photo Acquire Licensing RightsNov 30 (Reuters) - Here are reactions to the death of Henry Kissinger, a controversial Nobel Peace Prize winner who left an indelible mark on U.S. foreign policy:WINSTON LORD, FORMER U.S. DIPLOMAT AND WIFE OF LATE SEN JOHN MCCAIN:"Henry Kissinger was ever present in my late husband’s life. FORMER U.S. PRESIDENT GEORGE W. BUSH:"America has lost one of the most dependable and distinctive voices on foreign affairs with the passing of Henry Kissinger. And we will always be thankful for the contributions of Henry Kissinger."
Persons: Henry Kissinger, Jonathan Ernst, WINSTON, Henry, CINDY MCCAIN, SEN JOHN MCCAIN, John, McCain, MARTIN INDYK, HENRY KISSINGER, Kissinger, GEORGE W, Laura, XIE FENG, Kissinger's, centenarian, Edwina Gibbs, Tom Hogue, Clarence Fernandez, Sonali Paul Organizations: U.S, Committee, International Relations, REUTERS, AMBASSADOR, SPECIAL, Nazis, United States Army, UNITED STATES, Reuters bureaux, Thomson Locations: Hill, Washington , U.S, U.S, CHINA, European, Nancy, China
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies TikTok FollowNov 30 (Reuters) - A U.S. judge late on Thursday blocked Montana's first-of-its kind state ban on the use of short-video sharing app TikTok from taking effect on Jan. 1, saying it violated the free speech rights of users. U.S. District Judge Donald Molloy issued a preliminary injunction to block the ban on the Chinese-owned app, saying the state ban "oversteps state power and infringes on the constitutional rights of users." TikTok users in Montana also filed suit to block the ban. During an October hearing, Molloy questioned why no other state had followed Montana in banning TikTok and asked if the state was being "paternalistic" in arguing the ban was necessary to protect the data of TikTok users. Montana could have imposed fines of $10,000 for each violation by TikTok in the state but the law did not impose penalties on individual TikTok users.
Persons: Dado Ruvic, Montana's, Donald Molloy, China's ByteDance, TikTok, Molloy, Bill Clinton, Donald Trump, David Shepardson, Chris Reese, Sonali Paul Organizations: REUTERS, U.S, District, Montana, Democratic, Biden, Thomson Locations: U.S, Montana
Devoting a portion of the silicon in Broadcom's Trident networking processors to AI improves the chip's efficiency and its ability to handle other tasks such as network security. The chip, called a Trident 5-X12, can help alleviate some of the network traffic congestion, Robin Grindley, an executive in Broadcom's Core Switching Group, said in an interview. The AI portion of the chip can be turned on after a customer builds an AI model based on the traffic in their data center. Once constructed, a form of the model is fed into the chip and it can help route the traffic. The new version of the Trident is built with 5 nanometer manufacturing technology and is currently shipping to "qualified" customers.
Persons: Mike Blake, Robin Grindley, Grindley, Max A, Sonali Paul Organizations: Broadcom, REUTERS, Tech, Trident, Engineers, Thomson Locations: Rancho Bernardo, California, San Francisco
For the company's enterprise and carrier business, inventory clearing has dampened prospects of new orders for chip makers like Marvell. For the current quarter, Marvell expects revenue of $1.42 billion plus or minus 5%, compared with estimates of $1.46 billion. However, Marvell beat Wall Street estimates for third-quarter revenue and profit, as the rapid adoption of artificial intelligence (AI) buoyed demand for its chips. Marvell posted net revenue of $1.42 billion for the quarter ended Oct. 28, compared with analysts' estimates of $1.40 billion, according to LSEG data. Excluding items, the company posted a profit of 41 cents per share, marginally beating estimates of 40 cents per share.
Persons: Matthew Murphy, you've, Murphy, It's, Marvell, Arsheeya, Max A, Shailesh Kuber, Sonali Paul Organizations: Marvell Technology, Reuters, Marvell, Wall, Thomson Locations: Bengaluru, Max, San Francisco
Palestinians cook among the houses destroyed in Israeli strikes during the conflict, amid the temporary truce between Israel and the Palestinian Islamist group Hamas, at Khan Younis refugee camp, in the southern Gaza Strip, November 29, 2023. U.S. officials from President Joe Biden on down, including in the State Department and Pentagon, are pleading with Israel to take a more cautious approach if and when the Israeli military extends its offensive to southern Gaza. Two-thirds of the enclave's population of 2.3 million have fled south to avoid the war zone in the north. Israel's operation in the north drew strong international criticism and Biden has taken fire at home for his sweeping support for Israel. Many of the lead architects of the Hamas attacks in southern Israel on Oct. 7, in which 1,200 people were killed, are in the south, one official noted.
Persons: Mohammed Salem, Joe Biden, Israel, Biden, Washington, Steve Holland, Heather Timmons, Sonali Paul Organizations: Hamas, REUTERS, Rights, State Department, Pentagon, Thomson Locations: Israel, Palestinian, Khan, Gaza, United States, U.S
After three years of plentiful rain and rising livestock numbers, dry weather has withered pastures across Australia. The extreme change in conditions has helped trigger the fastest plunge in cattle and sheep prices in decades, threatening livelihoods in Australia's A$75 billion ($50 billion) red meat and livestock industry. While farmers suffer, falling livestock prices have brought some relief to Australian households hurting from high inflation. Falling U.S. beef production means demand for Australian beef should rise, helping support livestock prices, said Angus Gidley-Baird, an analyst at Rabobank in Sydney. Agricultural consultants Episode 3 estimate that Australian beef processors are reaping their best profits in at least two decades thanks to low local cattle prices and high sale prices in export markets.
Persons: Angus Hobson, Peter Hobson, Angus, Hobson, Stuart Austin, Wilmot, Angus Gidley, Baird, Teys, Mat Larkings, gaunt, haven't, they'll, Sonali Paul Organizations: Livestock, New, REUTERS, Beef, Livestock Australia, Woolworths, Data Monitor, Rabobank, Meat packers, Teys Australia, Farmers, Thomson Locations: Delegate, New South Wales, Australia, Angus Hobson's, Australia's, United States, El Nino, Japan, China, Sydney, Walcha
A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsNov 29 (Reuters) - Canada is set to announce on Thursday a multi-billion dollar sole-source contract for Boeing Co’s (BA.N) P-8 Poseidon maritime patrol aircraft to replace the country’s military surveillance planes, a senior government source familiar with the matter told Reuters. An announcement would end months of speculation and follow a challenge from Canadian private planemaker Bombardier (BBDb.TO) which called for an open competition so it could submit a bid using its large-cabin Global business jets. A draft agreement between the governments of Canada and the United States for the sale of the Poseidon aircraft and associated training and equipment is set to expire on Thursday. Boeing declined comment on Wednesday.
Persons: Sao Jose dos Campos, Gabriel Araujo, Steve Scherer, Valerie Insinna, Allison Lampert, Chris Reese, Sonali Paul Organizations: Boeing, REUTERS, Reuters, Bombardier, CP, Aurora, Poseidon, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, Canada, United States, Ottawa, Washington, Montreal
A driver of Chinese ride-hailing service Didi drives with a phone showing a navigation map on Didi's app, in Beijing, China July 5, 2021. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Nov 29 (Reuters) - China's Didi Global (92Sy.MU) ride-hailing app was disrupted earlier this week by an underlying system software failure and not a cyberattack, the company said in a statement on its social media account on Wednesday. The country's largest ride-hailing company faced widespread criticism this week after users in several cities were unable to book rides on Monday evening and complained about encountering glitches while using the app in the following days. Didi's China service recorded average daily transactions of 31.3 million in the third quarter, according to its latest results. Reporting by Beijing newsroom; Editing by Tom Hogue and Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Didi, Tingshu Wang, Tom Hogue, Sonali Paul Organizations: REUTERS, Rights, Beijing, Thomson Locations: Beijing, China, Rights BEIJING
DP World says hackers stole Australian ports employee data
  + stars: | 2023-11-28 | by ( ) www.reuters.com   time to read: +1 min
SYDNEY, Nov 28 (Reuters) - DP World Australia, one of the country's largest ports operators, said on Tuesday hackers had accessed files containing personal details of employees after a cyber incident early this month forced it to suspend operations for three days. "While the investigation has shown that customer data was not affected, some of the impacted data includes the personal information of current and previous employees," the company, part of Dubai's state-owned DP World, said in a statement. DP World did not provide any details about the perpetrators but said its investigation confirmed the incident was confined to its Australian operations and did not impact any other markets where the company operates. No ransomware was found or deployed within the DP World Australia network, the company said. After spotting the breach, DP World, one of a handful of stevedore industry players in Australia, disconnected from the internet, significantly impacting freight movements.
Persons: Renju Jose, Sonali Paul Organizations: SYDNEY, Fremantle, DP, Australia, Thomson Locations: Australia, Melbourne, Sydney, Brisbane, Western, Dubai's
Alex Richard Murdaugh is seen in this police mugshot photo in Orlando, Florida, U.S., October 14, 2021. Murdaugh has appealed his murder convictions and maintains he is innocent of the killings. At his murder trial, prosecutors said Murdaugh killed his wife and son to distract from his financial crimes, through which he stole millions of dollars used to support a years-long opioids addiction and lavish lifestyle. He pleaded guilty to bank fraud and other financial felonies in a separate federal case in September. Reporting by Steve Gorman in Los Angeles; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Alex Richard Murdaugh, Richard, Alex, Murdaugh, gunning, Maggie, Paul, Steve Gorman, Sonali Paul Organizations: ORANGE COUNTY, REUTERS, Thomson Locations: Orlando , Florida, U.S, South Carolina, Charleston, Los Angeles
SAO PAULO, Nov 28 (Reuters) - Latin American fintech Clara has launched a payment account in Brazil that it expects will help it reach 6 billion reais ($1.23 billion) in transactions in 2024, the firm said on Tuesday, as it eyes growth in the region's largest economy. Clara, which also provides corporate cards and expense management solutions, said the new product would allow clients in Brazil to expand their payment methods, adding bank slips and express wire transfers (TEDs) to its traditional credit card. Clara announced in August it was moving its headquarters from Mexico to Brazil after obtaining a central bank license to operate as a payment institution there, allowing it to launch the so-called 'Clara Conta'. Clara's credit card already accounts for annual transactions of over a 1 billion reais in Brazil alone, and the company says operations have been doubling in size every six months. ($1 = 4.8964 reais)Reporting by Gabriel Araujo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.
Persons: Clara, Clara Conta, Gabriel Araujo, Sonali Paul Organizations: SAO PAULO, Banco, Thomson Locations: Brazil, Mexico, Colombia
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