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☆ Morocco earthquake killed young boy as family sat at dinner table
▼ + stars: | 2023-09-10 | by ( Ahmed Eljechtimi | ) www.reuters.com time to read: +3 min

"That's when it struck," Ben Henna said. The earthquake was Morocco's most powerful since at least 1900 and it killed more than 2,000 people, mostly in small mountain villages like Tafeghaghte where the Ben Henna family live. Ben Henna and his other son, Mouad, staggered out of the open door into the alleyway as their house began to collapse. One family Ben Henna knew lost seven members. Fatima Boujdig sat with her husband in the shade of their large red truck, badly damaged by falling rubble, as a donkey grazed nearby.

Persons: Ahmed El Jechtimi, Hamid ben, Marouane, Ben, Mouad, Amina, Ben Henna's, Henna's, Fatima Boujdig, Omer Berberoglu, Angus McDowall, Christina Fincher Organizations: REUTERS, Thomson Locations: Tafeghaghte, Morocco, Casablanca

☆ Russia's VTB to make record profit in 2023 but dividends unlikely, CEO tells RBC
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

The logo of VTB bank is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsMOSCOW, Sept 11 (Reuters) - Russia's state-owned VTB bank (VTBR.MM) will make a record profit this year, even though dividends are unlikely, the lender's CEO Andrei Kostin told Russian newspaper RBC in an interview published on Monday. RBC quoted Kostin as saying: "Our profit forecasts this year are good, the year is going well. Our target for net profit is 400 billion roubles ($4.13 billion), but I think we will eventually exceed this level and earn record profits." On the urgent recommendation of the central bank, we have suspended ... dividends," the newspaper quotes Kostin as saying.

Persons: Maxim, Andrei Kostin, Kostin, VTB, Elena Fabrichnaya, Felix Light, Christina Fincher Organizations: St ., Economic, REUTERS, Rights, Russian, RBC, United Shipbuilding Corporation, Kremlin, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine, India

☆ Morocco Earthquake Killed Young Boy as Family Sat at Dinner Table
▼ + stars: | 2023-09-10 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +3 min

Persons: Ahmed Eljechtimi TAFEGHAGHTE, Hamid ben, Marouane, Ben, Mouad, Amina, Ben Henna's, Henna's, Fatima Boujdig, Ahmed El Jechtimi, Omer Berberoglu, Angus McDowall, Christina Fincher Locations: Morocco, Tafeghaghte, Casablanca

☆ Russia to Return to Grain Deal Once All Moscow's Conditions Met, Lavrov Says
▼ + stars: | 2023-09-10 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +2 min

By Katya GolubkovaNEW DELHI (Reuters) - Russia will return to the Black Sea grain deal 'the same day' as Moscow's conditions for export of its own grain and fertilisers to the global markets are met, Foreign Minister Sergei Lavrov told reporters on Sunday. Supplies were obstructed after Russia invaded Ukraine last year in what Moscow calls a 'special military operation'. The United Nations, Turkey and this year's G7 chair Japan are trying to facilitate the resumption of grain supplies. Ukraine opposes the idea of easing sanctions on Russia in order to revive a grain deal. Turkish President Tayyip Erdogan said on Sunday he was not 'hopeless' about reviving the deal, and Russia, Ukraine and Turkey would continue to discuss it.

Persons: Katya Golubkova, Sergei Lavrov, Russia, Lavrov, Tayyip Erdogan, SWIFT, General Antonio, Guterres, Christina Fincher Organizations: United, The United, Reuters, UN, Russian Agricultural Bank, SWIFT Locations: DELHI, Russia, United Nations, Turkey, New Delhi, Ukraine, Moscow, The United Nations, Japan, Turkish, Luxembourg

☆ Raymond Ackerman, founder of South African grocer Pick n Pay, dies at 92
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Sept 7 (Reuters) - Raymond Ackerman, who founded Pick n Pay (PIKJ.J) from just four stores 56 years ago and turned them into one of South Africa's leading grocery retailers, has died aged 92, the company said on Thursday. "It is with profound sadness that we announce the death at the age of 92 of visionary South African, and founder of Pick n Pay, Raymond Ackerman," the company said. The Ackermans retail group was later sold to competitor Greatermans, which started the supermarket group Checkers, now part of bigger rival Shoprite (SHPJ.J). After leaving Greatermans, Ackerman bought four small stores in Cape Town trading under the name Pick 'n Pay. Today it generates 106 billion rand in annual turnover and owns more than 2,000 stores across South Africa and seven other African countries.

Persons: Raymond Ackerman, Gus, Ackerman, Gareth, Pick, Nqobile Dludla, Christina Fincher Organizations: Greatermans, Thomson Locations: JOHANNESBURG, Greatermans, Cape Town, South Africa

☆ German industrial output falls more than expected in July
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

A Continental employee works at a tyre retreating station before the visit of German Chancellor Olaf Scholz, in Hanover, Germany April 17, 2023. REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBERLIN, Sept 7 (Reuters) - German industrial production fell by slightly more than expected in July, the federal statistics office said on Thursday, underlining the challenges faced by the sector after a winter downturn in Europe's largest economy. Production fell by 0.8% in July compared to the previous month. In the less volatile three-month comparison, production between May and July was 1.9% lower than the previous three months, the data showed. Jens-Oliver Niklasch of LBBW said Thursday's data underscored "the continued crumbling of the economy" and predicted the third quarter would bring a decline in economic output.

Persons: Olaf Scholz, Fabian Bimmer, Alexander Krueger, Hauck Aushaeuser Lampe, Jens, Oliver Niklasch, LBBW, Friederike Heine, Maria Sheahan, Christina Fincher Organizations: REUTERS, Rights, Reuters, Thomson Locations: Hanover, Germany

☆ France: Teen dies after collision with police car near Paris
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +1 min

PARIS, Sept 7 (Reuters) - The French government on Thursday called for calm following the death of a 16-year-old boy whose motorbike collided with a police car on a road outside Paris. Government spokesman Olivier Veran said the investigations under way would determine the "exact circumstances" of Wednesday's collision. I am calling for restraint and careful consideration," he said on France Inter radio. The death of the teenager, whose ethnicity had not been reported, occurred as France gears up to host the Rugby World Cup. The tournament kicks off on Friday when France play New Zealand at the Stade de France near Paris.

Persons: Olivier Veran, Dominique Vidalon, Alain Acco, Christina Fincher, John Stonestreet Organizations: Prosecutors, Government, France Inter, Rugby, New Zealand, Stade de France, Thomson Locations: Paris, Elancourt, Yvelines, Nanterre, France

☆ Proposal on cryptocurrencies to be discussed at G20 leaders' summit - govt source
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: 1 min

A Central Reserve Police Force personnel patrols a road next to a hoarding ahead of the G20 Summit in New Delhi, India, September 6, 2023. REUTERS/Amit Dave Acquire Licensing RightsNEW DELHI, Sept 6 (Reuters) - A proposal by the International Monetary Fund and Financial Stability Board (FSB) on cryptocurrencies will be discussed at the G20 leaders' summit this weekend, a government source said on Wednesday. A paper on cryptocurrencies by the IMF and FSB has been submitted to participating countries, the source said, adding that India has also prepared a presidential note that will include the summary of the report. Reporting by Sakshi Dayal; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Amit Dave, Sakshi Dayal, Christina Fincher Organizations: Central Reserve Police Force, REUTERS, International Monetary Fund, IMF, FSB, Thomson Locations: New Delhi, India, DELHI

Bola Tinubu, President of Nigeria, arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. Lewis Joly/Pool via REUTERS/File Photo Acquire Licensing RightsNEW DELHI, Sept 6 (Reuters) - Nigeria has secured nearly $14 billion of pledges from Indian investors and seeks an economic cooperation pact with the South Asian nation, a presidential spokesperson said on Wednesday. Skipperseil Ltd's founding Chairman Jitender Sachdeva and India's Bharti Enterprises each pledged $1.6 billion over four years to build power generation plants and $700 million in Nigeria, respectively, Ngelale said. Tinubu is attending at the invitation of India, which currently holds the rotating presidency of the bloc. "We are ready to give you the best returns for investment possible, there's nowhere else like our country," Tinubu said in the statement.

Persons: Bola Tinubu, Lewis Joly, India's Jindal, Ajuri Ngelale, Skipperseil, Jitender Sachdeva, Ngelale, Tinubu, Nidhi Verma, Felix Onuah, Elisha Bala, Shivam Patel, Christina Fincher, Richard Chang Organizations: New Global Financial, South, India's Jindal Steel, Indorama Corp, India's Bharti Enterprises, Defence Industries Corporation, Thomson Locations: Nigeria, Paris, France, DELHI, West, New Delhi, India, Africa's, South Africa, Abuja

☆ Armenia says it will stage joint military exercise with US next week
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

Sept 6 (Reuters) - Armenia said on Wednesday it would host a joint military exercise with the United States next week, a development likely to irritate Russia. The Armenian Defence Ministry said the purpose of the Sept. 11-20 "Eagle Partner 2023" exercise was to prepare its forces to take part in international peacekeeping missions. Russia has a military base in Armenia and sees itself as the pre-eminent power in the South Caucasus region, which until 1991 was part of the Soviet Union. It maintains a peacekeeping force in the region to uphold an agreement that ended a war between Armenia and Azerbaijan in 2020, the second they have fought since the Soviet collapse. "Russia plays a consistent, very important role in stabilising the situation in this region ... and we will continue to play this role."

Persons: Nikol Pashinyan, Dmitry Peskov, Pashinyan's, Mark Trevelyan, Christina Fincher Organizations: United, Armenian Defence Ministry, Eagle, Thomson Locations: Armenia, United States, Russia, U.S, South Caucasus, Soviet Union, Azerbaijan, Soviet, Italian, Ukraine

☆ Roman-era swords, likely Jewish rebel booty, unearthed in Israel
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

[1/5] Ancient swords, believed by the Israel Antiquities Authority to be from the Roman era dating back 1,900 years and found in a weapons cache in a cave in an Israeli desert, are displayed in Jerusalem, September 6, 2023. The fashioning of three of the blades recalls Roman "spatha" swords, and the fourth has a ring-pommel handle consistent with the period, the Israel Antiquities Authority (IAA) said. The rare find included a shafted Roman "pilum" spear. A coin from the time of the Bar Kokhba revolt of 132-135 AD was found at the entrance to the cave. "Obviously, the rebels did not want to be caught by the Roman authorities carrying these weapons."

Persons: Ronen, Eitan Klein, Dan Williams, Christina Fincher Organizations: Israel Antiquities Authority, REUTERS, Rights, Thomson Locations: Jerusalem, Israel

☆ Stocks decline as yields, dollar rise amid global demand worries
▼ + stars: | 2023-09-05 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Also, U.S. benchmark Treasury yields jumped, while the Aussia dollar fell after the Reserve Bank of Australia kept rates steady. "Worries are on the rise about a China and Europe-led slowdown in global growth. The U.S. dollar index was up 0.5% at 104.69. Wall Street stocks dipped with growth stocks as Treasury yields rose.

Persons: Toby Melville, Joe Manimbo, Christopher Waller, Brent, Caroline Valetkevitch, Saqib Iqbal Ahmed, Samuel Indyk, Ankur Banerjee, Stephen Coates, Kim Coghill, Christina Fincher, Shounak Dasgupta, Mike Harrison Organizations: London Stock Exchange Group, City of, REUTERS, U.S, Treasury, Reserve Bank of, The U.S, Wall, Dow Jones, Nasdaq, Federal Reserve, Fed, Labor, Thomson Locations: City, City of London, Britain, China, Europe, U.S, Reserve Bank of Australia, Washington, The, New York, London

☆ Sand dredging is 'sterilising' ocean floor, UN warns
▼ + stars: | 2023-09-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Ann Wang/File Photo Acquire Licensing RightsGENEVA, Sept 5 (Reuters) - Around 6 billion tons of marine sand is being dug up each year in a growing practice that a U.N. agency said is unsustainable and can wipe out local marine life irreversibly. The findings from the United Nations Environment Programme (UNEP) coincide with the launch of a new platform 'Marine Sand Watch' backed by funding from the Swiss government that monitors dredging activities using marine tracking and artificial intelligence. "The amount of sand we are withdrawing from the environment is considerable and has a large impact," UNEP's Pascal Peduzzi told a Geneva press briefing. In some cases, companies remove all the sand to the bedrock, meaning that "life may never recover", Peduzzi added. China, the Netherlands, the United States and Belgium are among the countries most active in the sector, he said.

Persons: Ann Wang, Pascal Peduzzi, Peduzzi, Arnaud Vander Velpen, Emma Farge, Christina Fincher Organizations: REUTERS, Rights, United Nations Environment Programme, UNEP, University of Geneva, Thomson Locations: Taiwan, Swiss, Geneva, China, United States, Netherlands, Belgium

☆ Dollar eases as risk appetite improves on China's measures
▼ + stars: | 2023-09-04 | by ( Joice Alves | ) www.reuters.com time to read: +4 min

[1/2] U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The China-sensitive euro was up 0.25% at $1.0799, just off a 10-week low touched last week against the dollar. The Australian dollar and the New Zealand dollar also got a lift from those measures. "The U.S. dollar is softening against most other G10 currencies today as risk appetite improves on the back of China support measures," said Jane Foley, head of FX strategy at Rabobank. The Canadian dollar slipped 0.07% to 1.359 per dollar ahead of the Bank of Canada's policy meeting this week, with the central bank expected to hold rates.

Persons: Dado Ruvic, Jane Foley, Christine Lagarde, Isabel Schnabel, Foley, Jeremy Hunt, Sterling, Joice Alves, Ankur Banerjee, Sharon Singleton, Christina Fincher Organizations: REUTERS, U.S, Australian, New Zealand, Rabobank, European Central Bank, ECB, FOCUS, Reserve Bank of Australia, Canadian, Bank of, Thomson Locations: China, Beijing, FOCUS British, U.S, London, Singapore

☆ Gabon coup leader sworn in as interim president in scene of jubilation
▼ + stars: | 2023-09-04 | by ( Gerauds Wilfried Obangome | ) www.reuters.com time to read: +4 min

Gabon coup leader General Brice Oligui Nguema is sworn in as interim president during his swearing-in ceremony, in Libreville, Gabon, September 4, 2023. State TV showed images of a cheering crowd and armoured personnel carriers firing into the sea to mark the moment. PLEDGE TO RETURN POWER TO CIVILIANSNguema reiterated that his administration would organise free and fair elections, though he gave no timetable. "After this transition ... we intend to return power to civilians by organising new elections that will be free, transparent, credible and peaceful," he said. The coup had drawn cheering crowds onto the streets of the capital Libreville but condemnation from abroad.

Persons: General Brice Oligui Nguema, Gerauds Wilfried Obangome, Bongo, Ali Bongo, Nguema, Nellie Peyton, Karin Strohecker, Alessandra Prentice, Estelle Shirbon, Peter Graff, Christina Fincher Organizations: REUTERS, Central Africa LIBREVILLE, Gabon's, Central, State, Central African, United Nations, African Union, Reuters, Thomson Locations: Gabon, Libreville, West, Central, of Gabon

☆ Reaching 2% inflation goal necessary for BOJ easy policy exit, says ex-board member Kataoka
▼ + stars: | 2023-09-04 | by ( Divya Chowdhury | ) www.reuters.com time to read: +2 min

MUMBAI, Sept 4 (Reuters) - The Bank of Japan (BOJ) will be able to gradually shift away from its easy monetary policy only after ensuring its 2% inflation goal has been sustainably achieved, former board member Goushi Kataoka said on Monday. Kataoka expected the Spring 2024 wage negotiations to be key for the BOJ's inflation mission, Kataoka, currently chief economist at PwC Japan, told the Reuters Global Markets Forum. Once it begins exiting policy, Kataoka expects the BOJ to first remove the peg on the 10-year Japanese government bond (JGB) yield, then exit its negative interest rate policy, and finally scrap the YCC policy. "Allowing the guide rate to effectively go as low as 1% would not be possible until the 2% (inflation) target is achieved," Kataoka said. "I'm worried about the stance of Kishida cabinet," he said, describing the previous administrations' tax hikes in 2014 and 2019 as undermining the Kuroda's bold monetary policy experiment.

Persons: Goushi Kataoka, Kataoka, Haruhiko Kuroda, BOJ, I'm, Divya Chowdhury, Savio Shetty, Anisha, Christina Fincher Organizations: Bank of Japan, Reuters Global Markets, Thomson Locations: MUMBAI, Mumbai, Bengaluru

☆ BoE's Broadbent: Rates may have to stay high 'for some time yet'
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +3 min

The Bank of England's Deputy Governor, Monetary Policy, Ben Broadbent speaks at a press conference at the Bank of England, London, Britain, May 11, 2023. The BoE said earlier this month that borrowing costs were likely to stay high for some time as it raised rates for the 14th time in a row. Investors expect another increase in the BoE's Bank Rate to 5.5% from its current level of 5.25% on Sept. 21, after the next scheduled meeting of the Monetary Policy Committee. Broadbent said the BoE's stance on interest rates would respond to "the evidence on spare capacity, and to indicators of domestic inflation, as and when it comes through." The chair of the Federal Reserve, Jay Powell, told the Jackson Hole gathering of central bankers on Friday that the Fed may need to interest rates further.

Persons: Ben Broadbent, Henry Nicholls, JACKSON, Broadbent, BoE, Jay Powell, Jackson, William Schomberg, Paul Sandle, Christina Fincher Organizations: of England's, Monetary, Bank of England, REUTERS, Federal Reserve, Thomson Locations: London, Britain, , Wyoming, United States, Ukraine, BoE's, Russia

☆ UK to make whole-life sentences mandatory for worst killers
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +2 min

A Britain flags are seen in The Mall street in London, Britain January 29, 2020. For the first time, the orders will also be the default sentence for any sexually motivated murders, it said. Whole-life orders are rare, with 65 prisoners subject to one as of June 30, according to the Sentencing Council for England and Wales, which issues guidelines on punishments. "By bringing in mandatory whole life orders for the heinous criminals who commit the most horrific types of murder, we will make sure they never walk free," said Prime Minister Rishi Sunak. A judge currently specifies the minimum term an offender must spend in prison before becoming eligible to apply for parole when they pass a life sentence.

Persons: Antonio Bronic, Lucy Letby, Rishi Sunak, Britain's, Paul Sandle, Christina Fincher Organizations: REUTERS, Appeal, England, Thomson Locations: Britain, London, Wales

☆ One person dead, 46 injured after explosions at Romanian gas station
▼ + stars: | 2023-08-26 | by ( ) www.reuters.com time to read: +1 min

[1/5] Flames rise after an explosion at a LPG station in Crevedia, near Bucharest, Romania, August 26, 2023. Inquam Photos/Octav Ganea via REUTERS Acquire Licensing RightsBUCHAREST, Aug 26 (Reuters) - One person died and 46 were hospitalized after two explosions at a liquefied petroleum gas station in the Romanian town of Crevedia, near the capital Bucharest on Saturday. A second explosion took place at the LPG station on Saturday evening injuring 26 firefighters, Deputy Interior Minister Raed Arafat who is in charge of the emergency response unit told reporters. Of the 46 injured, eight were intubated after suffering severe burns, the government said. Reporting by Marek Strzelecki and Luiza Ilie; editing by Christina Fincher and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ganea, Raed Arafat, Marcel Ciolacu, Arafat, Marek Strzelecki, Luiza Ilie, Christina Fincher, Daniel Wallis Organizations: Flames, REUTERS Acquire, Rights, Thomson Locations: Crevedia, Bucharest, Romania, Rights BUCHAREST, Romanian, Italy, Belgium

☆ India considers raising retirement age for state-owned bank bosses
▼ + stars: | 2023-08-26 | by ( Nikunj Ohri | ) www.reuters.com time to read: +1 min

A man checks his mobile phone in front of a State Bank of India (SBI) branch in Kolkata, India, February 9, 2018. REUTERS/Rupak De Chowdhuri/File Photo Acquire Licensing RightsNEW DELHI, Aug 26 (Reuters) - India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system's assets, a government official said on Saturday. The age limit for state-run bank chiefs is much lower than their private sector peers, who retire at 70 and have longer tenors. Analysts have often cited this as a reason for a lack of continuity in strategy at state-owned lenders. Chiefs of state-run banks are generally appointed for three years and can be given an extension based on their performance.

Persons: Dinesh Khara, Aditi Shah, Christina Fincher Organizations: State Bank of India, REUTERS, DELHI, SBI, Chiefs, Thomson Locations: Kolkata, India

☆ Dollar steady as Fed's Powell says higher rates may be needed
▼ + stars: | 2023-08-25 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

[1/2] U.S. dollar banknotes are seen in this illustration taken March 10, 2023. The U.S. dollar index - which measures the currency against six major counterparts - was about flat at $104.06 after rising to 104.44, its highest since June 1. Interest rate futures tied to the Fed's policy rate on Friday priced in a more than even chance of tightening at either the November or December policy meetings. On Friday, the euro was 0.01% lower against the dollar at $1.08085. Against the yen , the dollar was up 0.31% to 146.28.

Persons: Dado Ruvic, Jerome Powell, Powell, Karl Schamotta, Ben, Bernanke, Mario, Draghi, Schamotta, bitcoin, Saqib Iqbal Ahmed, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher, Nick Zieminski, Jonathan Oatis Organizations: REUTERS, U.S, Federal, European Central Bank, Global Research, Reuters, of, Thomson Locations: Jackson Hole , Wyoming, U.S, Toronto, Britain, London, Singapore

☆ Euro knocked by ECB rate pause talk, dollar cautious before Powell
▼ + stars: | 2023-08-25 | by ( Dhara Ranasinghe | ) www.reuters.com time to read: +3 min

[1/2] Euro currency bills are pictured at the Croatian National Bank in Zagreb, Croatia, May 21, 2019. The euro hit its lowest since mid-June at around $1.0766 before drifting higher. The dollar index , which measures the U.S. currency against six others, rose to 104.31, the highest since June 6, but edged lower during London trade. Powell speaks at the Jackson Hole Economic Policy Symposium at 1405 GMT, while ECB chief Christine Lagarde speaks at the same gathering later in the day. Sterling touched its lowest level since June at around $1.2560 before recovering to around $1.2610 to trade just a touch softer on the day.

Persons: Antonio Bronic, Fed's Powell, Jerome Powell, Powell, Christine Lagarde, Jeremy Stretch, Sterling, Marc Chandler, Dhara Ranasinghe, Ankur Banerjee, Kirsten Donovan, Christina Fincher Organizations: Croatian National Bank, REUTERS, Central Bank, Federal, Reuters, Jackson, ECB, CIBC, Bannockburn Global Forex, Thomson Locations: Zagreb, Croatia, London, Britain, U.S, Bannockburn, Singapore

☆ Morning Bid: Dollar rockets as Powell trumps AI
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +5 min

Fed Chair Jerome Powell is due to deliver a keynote address to the annual central banking symposium in Jackson Hole at 1405 GMT. And given increasingly contrasting fortunes of economies on either side of the Atlantic, Powell's words are expected to contain a different message to the one from European Central Bank President Christine Lagarde later in the day at 1900 GMT. Turkey's lira gave back only some of Thursday's gains after its central bank shocked with a 750 basis point interest rate to 25%. Events to watch for on Friday:* Federal Reserve Chair Jerome Powell gives keynote speech at annual Fed symposium in Jackson Hole. European Central Bank President Christine Lagarde also speaks at Jackson Hole.

Persons: Mike Segar, Mike Dolan, Jerome Powell, Christine Lagarde, Ifo, Jackson, Powell, Patrick Harker, Susan Collins, Collins, Harker, BoE, China's bourses, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, Federal Reserve, Nvidia, European Central Bank, Philadelphia Fed, Boston Fed, ECB, Bank of, Treasury, Reuters, Authorities, University of Michigan's, Marvell, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Jackson, Bank of England, Asia, Jackson Hole, Jakarta

☆ Italy's president calls for more legal migration to beat people trafficking
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Juan Medina/File Photo Acquire Licensing RightsROME, Aug 25 (Reuters) - The European Union should allow more legal migration into its borders to stop people trafficking, Italian President Sergio Mattarella said on Friday, amid a surge in arrivals by sea to his country. Meloni's government has partly followed Mattarella's advice, saying in July it would raise entry quotas for non-EU migrant workers to 452,000 for 2023-2025. The Italian president, who as head of state is a non-partisan figure, said action needed to be taken at EU level. Migration has long been a political hot potato within the bloc, hampering joint decisions by its 27 member states. "This drawing reminds me that, behind the migration numbers and percentages which we often list, there are countless individual people, each one with their own story, projects, dreams, future," the president said.

Persons: Juan Medina, Sergio Mattarella, Giorgia Meloni's, Mattarella, Alvise Armellini, Christina Fincher Organizations: Uno, Guardia, REUTERS, Rights, European, Thomson Locations: Lampedusa, Italy, North Africa, Rimini, Europe

☆ Uganda bans imports of used clothing from 'dead people'
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Like most African countries, Uganda has traditionally imported large quantities of used clothing, which some consumers prefer because it is low-cost. At least 70% of garments donated to charity in Europe and the United States end up in Africa, according to Oxfam, a British charity. The East African Community, a regional economic grouping of which Uganda is a member, agreed in 2016 to a complete ban on used clothing imports by 2019, but Rwanda was the only country to enact it. As a result, the United States in 2018 suspended Rwanda's right to export clothing duty-free to the United States, one of the benefits of the United States' tariff and quota-free African Growth and Opportunity Act (AGOA). Museveni said the ban would also extend to electricity meters and electric cables, saying they should be bought from factories in Uganda.

Persons: Yoweri Museveni, Abubaker, Museveni, Elias Biryabarema, Christina Fincher Organizations: REUTERS, Rights, Oxfam, Reuters, East African Community, Thomson Locations: Kisozi, Gomba, Central Region, Uganda, Rights KAMPALA, Africa, Europe, United States, British, Sino, Mbale city, Rwanda, U.S, Kampala, Hereward Holland

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