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☆ Hollywood actors extend contract talks, temporarily averting strike
▼ + stars: | 2023-07-01 | by ( Lisa Richwine | ) www.reuters.com time to read: +3 min

LOS ANGELES, June 30 (Reuters) - Hollywood's actors union and major Hollywood studios agreed on Friday to keep negotiating through mid-July, staving off the immediate threat of a second labor strike in the entertainment business this summer. SAG-AFTRA voted in early June to give its leaders the authority to call a work stoppage if talks were to break down. Negotiations were taking place during a difficult time for Hollywood studios. The studios and the WGA have not held talks since the writers' strike began on May 2. The last writers' strike in 2007 and 2008 cost the California economy an estimated $2.1 billion.

Persons: staving, Jennifer Lawrence, Meryl Streep, AFTRA, Lisa Richwine, Hanna Rantala, Sarah Mills, Mary Milliken, Rosalba O'Brien, Cynthia Osterman, Simon Cameron, Moore, William Mallard Organizations: Hollywood, SAG, Alliance, Television Producers, Writers Guild of America, WGA, Thomson Locations: ANGELES, Hollywood, California, Los Angeles, London

☆ China slaps consumption tax on fuel blending components
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

BEIJING, July 1 (Reuters) - China announced late on Friday that a series of fuel blending components would be subject to consumption tax with immediate effect, according to a joint statement of the Ministry of Finance and the State Taxation Administration. The consumption tax rate on isooctane, a blending component for gasoline, would be the same as for gasoline, the statement said. The tax on all types of white oil -- crude white oil, light white oil and some industrial white oil -- would be levied at the same rate as for solvent oil. These fuels are often used for making diesel fuel. The tax on other products, like mixed aromatics and heavy aromatics, also used for making gasoline, would be levied at the same rate as for naphtha.

Persons: Sophie Yu, Chen Aizhu, Simon Cameron, Moore Organizations: Ministry of Finance, Taxation Administration, Thomson Locations: BEIJING, China, Beijing, Singapore

☆ India's goods and services tax receipts rise 12% year over year in June
▼ + stars: | 2023-07-01 | by ( Shivangi Acharya | ) www.reuters.com time to read: +1 min

[1/2] An employee counts currency notes at a cash counter inside a bank in Agartala, capital of India's northeastern state of Tripura, January 29, 2010. REUTERS/Jayanta Dey/File PhotoNEW DELHI, July 1 (Reuters) - India's goods and services tax (GST) collections rose nearly 12% year-on-year to 1.61 trillion rupees ($19.61 billion) in June, a government statement showed on Saturday. The government collected 1.45 trillion rupees as GST in June 2022 and a record 1.87 trillion rupees in April 2023. It expects to garner 9.56 trillion rupees through GST in the current fiscal year that ends in March 2024. India's nominal growth is estimated to be 10.5% in the current fiscal year.

Persons: Jayanta Dey, Shivangi Acharya, Simon Cameron, Moore Organizations: REUTERS, Thomson Locations: Agartala, India's, Tripura, DELHI, Maharashtra, Karnataka, Tamil Nadu

☆ Japan finance minister warns against excessive weakening as yen strikes 7-mth low
▼ + stars: | 2023-06-30 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +1 min

[1/2] A banknote of Japanese yen is seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/IllustrationTOKYO, June 30 (Reuters) - Japan would take appropriate steps should the yen weaken excessively, Finance Minister Shunichi Suzuki said on Friday after the currency plumbed seven-month lows against the dollar. Suzuki warned against investors pushing the yen too low as the currency weakened past 145 per dollar on Friday, a level which kept speculators wary of potential intervention from Japanese authorities. The intervention launched in September last year, when the yen weakened past 145 per dollar, was the first in 24 years. Japanese authorities have said the velocity of currency moves are deciding factor for intervention, not specific levels.

Persons: Florence Lo, Shunichi Suzuki, Suzuki, Sharp, Tetsushi Kajimoto, Simon Cameron, Moore Organizations: REUTERS, Finance, Thomson Locations: TOKYO, Japan, Asia

CARE Hospitals Group, according to another investor source, is in talks to sell a 70% stake to U.S. investment giant Blackstone (BX.N) in a deal valued at $800 million. MORE ATTRACTIVE THAN EVERAs government hospitals became increasingly overburdened and incomes rose in India's vast middle class, demand for private healthcare rose over the years. "The India healthcare opportunity has always been attractive, but never more than now. In 2022, PE investors spent $3.2 billion buying stakes in hospitals in India. "Big private hospitals are more reliable," said 35-year-old G. Chavan said as he accompanied his wife to see a doctor.

Persons: Rana Mehta, PwC's, Atlantic, Indira, Blackstone, Gaurav Sharma, Investcorp, Nishant Sharma, Sharma, Chavan, Sriram, Aditya Kalra, Simon Cameron, Moore Organizations: PwC, General Atlantic, CARE Hospitals, Blackstone, CARE, Kedaara Capital, ASIA'S PACE, Temasek, Reuters Graphics, Apollo Hospitals, Thomson Locations: India, PUNE, Pune, Indira, Bahrain, Mumbai, Manipal, Asia

☆ Indonesia's Java escapes 6.4 magnitude quake with few casualties, light damage
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +1 min

Jakarta, June 30 (Reuters) - A magnitude 6.4 earthquake struck off the Indonesian island of Java on Friday evening, injuring at least 10 people, while one person died of suspected heart attack during the quake, the country's disaster mitigation agency (BNPB) said. The tremor caused minor damage to hundreds of houses, some offices, health and education facilities scattered in the region of Yogyakarta and Central Java province, the agency spokesperson Abdul Muhari told Reuters Saturday. Indonesia's geophysics agency (BMKG) said the quake, which hit at a depth of 25 km (15 miles), was felt in several cities in the region of Yogyakarta as well as east and central Java, Indonesia's most populous island. No tsunami warning was issued. Reporting by Jose Joseph in Bengaluru and Ananda Teresia, Stefanno Sulaiman in Jakarta; editing by Mark Heinrich & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Abdul Muhari, Jose Joseph, Ananda Teresia, Stefanno Sulaiman, Mark Heinrich, Simon Cameron, Moore Organizations: Reuters, Thomson Locations: Jakarta, Java, Yogyakarta, Central Java, Indonesia, Southeast Asia, Bengaluru, Ananda

☆ Sri Lanka targets 30% haircut for international, domestic dollar bonds
▼ + stars: | 2023-06-29 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +5 min

The government also aims to rework its foreign debt with bondholders and bilateral creditors including China, Japan and India. Under the domestic debt revamp, holders of locally issued dollar-denominated bonds, such as Sri Lanka Development Bonds (SLDBs), will be given three options, Weerasinghe said. "We are asking foreign debt holders for a 30% haircut but that is still under discussion," Weerasinghe said. "Sri Lanka is under enormous pressure to restructure as quickly as possible and get its economy back on track, they need funds to import a lot of goods to reinvigorate their key tourism industry," Lutz Roehmeyer, fund manager at Capitulum Asset Management, who holds Sri Lanka international bonds. "A 30% haircut is too little given the shape the country's economy is in."

Persons: Nandalal Weerasinghe, Gotabaya Rajapaksa, Weerasinghe, Lutz Roehmeyer, Uditha Jayasinghe, Rosario, Karin Strohecker, Shilpa Jamkhandikar, Himani Sarkar, Kim Coghill, Simon Cameron, Moore, Toby Chopra Organizations: Saturday International, International Monetary Fund, IMF, Sri Lanka Development, Capitulum Asset Management, Sri Lanka, World Bank, Sri, Jorgelina, Thomson Locations: COLOMBO, Sri Lanka, Britain, China, Japan, India, United States

☆ Chinese spy balloon used US tech to spy on Americans-WSJ
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +1 min

June 28 (Reuters) - The Chinese spy balloon that passed over the U.S. early this year used American technology that helped it collect audio-visual information, the Wall Street Journal reported on Wednesday, citing preliminary findings from a closely held investigation. The findings support a conclusion that the craft was intended for spying, and not for weather monitoring as China had claimed, the report said. But the balloon did not seem to send data from its eight-day passage over Alaska, Canada and some other contiguous US states back to China, WSJ said. In February, the U.S. shot down the balloon, which had flown over sensitive military sites, sparking a diplomatic crisis. Reporting by Shubhendu Deshmukh in Bengaluru; Editing by Muralikumar Anantharaman & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Shubhendu Deshmukh, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Wall Street, Federal Bureau of Investigation, Thomson Locations: U.S, China, Alaska, Canada, Bengaluru

[1/2] A worker works on a production line at a factory of a ship equipments manufacturer, in Nantong, Jiangsu province, China March 2, 2020. China Daily via REUTERSBEIJING, June 29 (Reuters) - China's factory activity likely contracted for a third straight month in June, albeit at a marginally slower pace, a Reuters poll showed on Thursday, underscoring the need for further policy stimulus to counter weak demand at home and abroad. An index reading above 50 indicates expansion activity on a monthly basis and a reading below indicates contraction. The government has set a modest GDP growth target of about 5% for this year after badly missing its 2022 goal. The highest reading in the poll was 49.7, still short of breaking into expansion territory, while the lowest reading was 48.0.

Persons: Nomura, Li Qiang, Joe Cash, Madhumita Gokhale, Anant Chandak, Simon Cameron, Moore Organizations: REUTERS, PMI, Thomson Locations: Nantong, Jiangsu province, China, REUTERS BEIJING, Tianjin, Bengaluru

☆ Senior Russian general knew about Prigozhin's plans - New York Times
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +2 min

The New York Times reported that American officials also said there were signs that other Russian generals also may have supported Prigozhin. The Kremlin and the Russian defence ministry also did not immediately reply to Reuters' queries. Surovikin, nicknamed "General Armageddon" by the Russian media, had been put in overall charge of Ukraine operations in October. But in January Russian Defence Minister Sergei Shoigu appointed Chief of the General Staff Valery Gerasimov to oversee the campaign, with Surovikin staying on as his deputy. Having set off from the southern Russian city of Rostov-on-Don over the weekend, Prigozhin aborted the march within 200 kilometres (125 miles) of Moscow.

Persons: Sergey Surovikin, Yevgeny Prigozhin, Prigozhin, Wagner, Vladimir Putin, Sergei Shoigu, Staff Valery Gerasimov, Surovikin, Don, Lidia Kelly, Eric Beech, Simon Cameron, Moore Organizations: New York Times, Reuters, Pentagon, Russian, Staff, Thomson Locations: Ukraine, Russian, Belarus, Rostov, Moscow

☆ Japan, S.Korea to discuss FX swap deal in first finance talks since 2016
▼ + stars: | 2023-06-28 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

The swap deal expired in 2015 amid worsening relations over issues related to Japan's wartime occupation of the Korean Peninsula, and its restoration would symbolise the improvement in relations, analysts say. "We must strongly raise the momentum for historic improvement of Japan-South Korea relations. The ministers will also discuss global economic developments, infrastructure investment in developing countries, and the role both countries could play in multilateral financial cooperation. The bilateral finance talks, the eighth of their kind, were last held in 2016. Reporting by Tetsushi Kajimoto; Editing by Leika Kihara, Simon Cameron-Moore and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Yoon Suk Yeol, Kim Keon, Issei Kato TOKYO, Shunichi Suzuki, Choo Kyungho, Masato Kanda, Suzuki, Choo, Tetsushi Kajimoto, Leika Kihara, Simon Cameron, Moore, Gerry Doyle Organizations: Tokyo International, REUTERS, Japanese Finance, Korean, Thomson Locations: Korean, Tokyo, Japan, South Korea, China, North Korea, Ukraine

☆ Monsoon rains to cover all of India earlier than usual, accelerate crop sowing
▼ + stars: | 2023-06-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

MUMBAI, June 27 (Reuters) - India's monsoon season rains were set to cover the whole country by the weekend, according to meteorological department officials, allowing farmers in northern states to begin planting of summer-sown crops a week earlier than normal. The monsoon, the lifeblood of India's $3 trillion economy, delivers nearly 70% of the rain needed to water its farms and recharge reservoirs and aquifers. This year, the formation of severe cyclone Biparjoy in the Arabian Sea delayed the onset of monsoon rains and stalled their progress, with just a third of the country covered until last week. "By this weekend, the monsoon will cover the remaining parts as well," he said. Many north-eastern, central and northern states are likely to receive heavy rainfall this week, which would bring the deficit below 20%, a second IMD official said.

Persons: El, Rajendra Jadhav, Simon Cameron, Moore Organizations: India Meteorological Department, IMD, Reuters, El Nino, Thomson Locations: MUMBAI, Kerala, India's, Rajasthan, Punjab, Haryana, El Nino, Southeast Asia, India, Australia, Nino

☆ Russian missile hits restaurant in Ukraine's Kramatorsk killing at least eight
▼ + stars: | 2023-06-27 | by ( Max Hunder | ) www.reuters.com time to read: +3 min

KRAMATORSK, Ukraine, June 27 (Reuters) - A Russian missile struck a restaurant in the eastern Ukrainian city of Kramatorsk on Tuesday, killing at least eight people and wounding 56, emergency services said, as rescue crews combed the rubble in search of casualties. A second missile hit a village on the fringes of Kramatorsk, injuring five, but the main casualties were at the restaurant, where at least three children were among the dead. A Russian missile also hit a cluster of buildings in Kremenchuk, about 375 km (230 miles) west in central Ukraine, exactly a year after an attack on a shopping mall there that killed at least 20. In Kramatorsk, a city frequently targeted by Russian attacks, emergency workers scurried in and out of the shattered restaurant as residents stood outside embracing and surveying the damage. [1/9]A view shows a building of a restaurant heavily damaged by a Russian missile strike, amid Russia's attack on Ukraine, in central Kramatorsk, Donetsk region, Ukraine June 27, 2023.

Persons: Pavlo Kyrylenko, Volodymyr Zelenskiy, Ron Popeski, Chizu Nomiyama, Leslie Adler, Mark Heinrich, Cynthia Osterman, Simon Cameron, Moore Organizations: Police, Reuters, Donetsk Regional, Civil, Facebook, Thomson Locations: KRAMATORSK, Ukraine, Russian, Ukrainian, Kramatorsk, Kremenchuk, Donetsk region, Donetsk, Russia, Donetsk province, town's

☆ YouTube removes North Korean 'vloggers' after South Korea blocks accounts
▼ + stars: | 2023-06-27 | by ( Hyunsu Yim | ) www.reuters.com time to read: +2 min

The channels featured English-speaking young women, including a girl as young as 11, who claimed to offer an unfiltered look at every day life in North Korea as informal video bloggers, or "vloggers." The YouTube spokesperson said in a statement that the decision to remove the channels was taken to comply with "U.S. sanctions and trade compliance laws, including those related to North Korea." According to NK News, a Seoul-based website that tracks North Korea, the YouTubers have been linked to the Pyongyang-based Sogwang Media Corporation which seeks to expand the country’s external outreach through social media. North Korea-linked Twitter accounts, including those of so-called "friendship associations" in the United Kingdom and elsewhere, have also been blocked in South Korea due to legal demands. Some researchers have complained that removing the accounts cuts off sources of information about North Korea and its media.

Persons: Harry Potter, Hyunsu Yim, Josh Smith, Simon Cameron, Moore Organizations: YouTube, U.S, South, Korea Communications Standards, National Intelligence Service, North Korean, Google, NK News, Sogwang Media Corporation, Thomson Locations: SEOUL, North, North Korea, South Korea, Seoul, Pyongyang, United Kingdom

☆ Russia seeks calm after aborted mutiny, West sees cracks in Putin's power
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +6 min

"We've seen more cracks emerge in the Russian facade," Blinken told NBC's "Meet the Press" programme on Sunday. It was unclear if his visit to Russia's strongest ally was precipitated by the Wagner mutiny. It vouched support for Russia's efforts to maintain national stability, referring to the tension as Russia's "internal affairs". Biden and Trudeau both expressed support of Ukraine as it pursues a counteroffensive to recover territory seized by Russia, according to official statements. Giving its daily morning roundup on Monday, the General Staff of Ukraine’s Armed Forces said Russian forces had conducted unsuccessful operations around Bakhmut.

Persons: Vladimir Putin, Wagner, Yevgeny Prigozhin, Alexander Lukashenko, Sergei Shoigu, Putin, groping, Antony Blinken, Blinken, NBC's, Andrei Rudenko, Volodymyr Zelenskiy, Joe Biden, Justin Trudeau, Biden, Trudeau, Zelenskiy, Lukashenko, Antonio Tajani, Dmitry Peskov, Prigozhin, Hanna Maliar, Serhiy Nayev, ” Nayev, Simon Cameron, Moore, Lincoln Organizations: Wagner Group, Defence, Press, Russia's, Russian Federation, U.S, Canadian, Twitter, Russia's Security, Defence Ministry, Russia's TASS, RIA, Staff of Ukraine’s Armed Forces, Russian, Ukraine's Joint Forces, Reuters, Thomson Locations: Russia, Ukraine, Moscow, Russian, Rostov, Belarus, Beijing, China, Bolshevik, Lyman, Donetsk, Bakhmut

☆ Asia stocks slide as growth outlook darkens
▼ + stars: | 2023-06-23 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7% and is down 3.6% for the week, its worst since March. Japan's Nikkei (.N225) fell 1% as core inflation in Japan hit its fastest pace in more than four decades. Last week the U.S. Federal Reserve surprised markets with a hawkish outlook and central banks in Australia and Canada have delivered unexpected hikes. Two-year Treasury yields rose 9 bps to 4.8% overnight and were steady at 4.7888% in Asia on Friday. Brent crude futures were set for their worst week in nearly two months and fell 0.5% to $73.79 a barrel.

Persons: HSI, Wong Kok Hoong, Henry Russell, Maybank's Wong, Jerome Powell, Simon Cameron, Moore Organizations: Nikkei, Trade, China . Hong Kong, U.S . Federal Reserve, ANZ, U.S, Brent, Thomson Locations: SINGAPORE, Asia, Pacific, Japan, China . Hong, Maybank, Singapore, Britain, Norway, Australia, Canada, Europe, United States

☆ Ahead of election, Cambodia amends law to bar non-voters from contesting in future
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

Hun Sen, who has held power in Cambodia for more than three decades, last week ordered the rubber-stamp parliament to revise the law so that anyone who does not vote in the general election on July 23 will be barred from contesting any future elections. At the last election in 2018, the Hun Sen's Cambodian People's Party (CPP) won all of the parliamentary seats, having scored 4.8 million votes out of the 6.9 million cast. Hun Sen's administration has denied targeting opponents and says it is enforcing the law. The election commission said earlier this month that anyone urging people not to vote would be fined or imprisoned. The CPP will run virtually unopposed next month, after the election commission disqualified the sole opposition Candlelight Party from running, citing improper paperwork.

Persons: penalise, Hun Sen's, Hun Sen, Kheng, Phil Robertson, Kanupriya Kapoor, Simon Cameron, Moore Organizations: Interior, Cambodian People's Party, Human Rights Watch, Party, Reuters, Thomson Locations: PHNOM PENH, Cambodia

[1/2] PwC sign is seen in the lobby of their offices in Barangaroo, Australia June 22, 2023. PwC Australia made A$3 billion ($2.01 billion) in revenue last financial year. Allegro Funds describes itself as a restructuring specialist with over A$4 billion ($2.68 billion) under management. Acting PwC Australia chief executive Kristin Stubbins said last month the firm would "ringfence" its government consulting business and appoint a separate board to consider "strategic options for the business". In a sign the scandal is beginning to impact PwC's private sector work, four major pension funds managing roughly A$750 billion froze work with the firm this month.

Persons: Lewis Jackson SYDNEY, PwC, Kristin Stubbins, Lewis Jackson, Lincoln, Simon Cameron, Moore Organizations: REUTERS, PricewaterhouseCoopers Australia, Allegro, Reserve Bank of Australia, Australian Financial, Funds, PwC Australia, Thomson Locations: Barangaroo, Australia

☆ Premier Li urges China and Europe to 'rise above differences' at Paris summit
▼ + stars: | 2023-06-23 | by ( Casey Hall | Thomson Reuters | Casey Has Reported On China'S Consumer Culture Her Base In Shanghai For More Than A Decade | ) www.reuters.com time to read: +1 min

[1/2] Chinese Premier Li Qiang arrives for the closing session of the New Global Financial Pact Summit, Friday, June 23, 2023 in Paris, France. "China will unequivocally reject trade protectionism and all forms of decoupling and severing of supply chains," Li said on the final day of the two-day summit, adding that China would continue to take practical steps to support its fellow developing countries. "China is ready to be engaged in debt relief efforts in an effective, realistic and comprehensive manner in keeping with the principle of fair burden sharing," Li said. During the summit, Zambia struck a deal to restructure $6.3 billion in debt owed to other governments, including China, its largest official creditor. Reporting by Casey Hall Editing by Christina Fincher & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Read, Li, Casey Hall, Christina Fincher, Simon Cameron, Moore Organizations: New Global Financial, Thomson Locations: Paris, France, SHANGHAI, China, Europe, Zambia

The deal fits the Italian group's plan to increase the share of gas in its total hydrocarbon production and is expected to boost its earnings immediately, Eni said in a statement. Eni, which is controlled by the Italian government, owns 63% of Vaar and is the main beneficiary of cash dividends from the Oslo-listed unit. VAAR EXPANDING IN NORWAYUnder the agreement, Eni will acquire Neptune's entire portfolio other than its operations in Germany and Norway. The German operations will be carved out prior to the Eni transaction and the Norwegian operations will be acquired by Vaar directly from Neptune in a separate deal, the two groups said in a statement. The Vaar transaction will close immediately prior to the Eni deal with the proceeds from the Norway sale remaining with the business purchased by the Italian group.

Persons: Italy's Eni, Eni, Claudio Descalzi, Descalzi, Vaar, Torger Roed, Rothschild, Ernst, Young, Shadia Nasralla, Terje Solsvik, Alvise Armellini, Jason Neely, Simon Cameron, Moore, Philippa Fletcher Organizations: Eni, MILAN, Italy's, Neptune Energy, Vaar Energy, LNG, Eni's Gas, Royal Bank of Canada's, Neptune, China Investment Corporation, Carlyle Group, CVC Capital Partners, HSBC, White, Case, Thomson Locations: Europe, Algeria, Indonesia, Milan, Russia, Oslo, Norway, Vaar, NORWAY, Germany, Norwegian, Neptune, Neptune Norway, Italian, Britain, Netherlands, LNG, London

LAUNCESTON, Australia, June 22 (Reuters) - Commodities had a mixed reaction to the latest stimulus measures aimed at boosting the Chinese economy's stuttering post-pandemic recovery. Still, iron ore imports have remained fairly steady in recent months. Commodity analysts Kpler estimated that arrivals in June would be in the order of 98.73 million metric tons, which would be slightly higher than the official customs figure for May of 96.17 million tons. OIL GAINSIn contrast to iron ore's lacklustre response to China's latest stimulus measures, crude oil and copper performed better. Asia's crude oil imports are expected to remain robust in June.

Persons: Lim Boon Heng, LPR, Simon Cameron, Moore Organizations: Commodities, Xinhua, Brent, U.S, . Federal, Refinitiv Oil Research, Shanghai, Reuters, Thomson Locations: LAUNCESTON, Australia, Singapore, Beijing, China, May's, India, South Korea

[1/3] A view shows the damaged Chonhar bridge connecting Russian-held parts of Ukraine's Kherson region to the Crimean peninsula, following what Russian-appointed officials say was a Ukrainian missile attack, in this picture released June 22, 2023. Russian-installed leader of the Kherson region... Read moreJune 22 (Reuters) - Ukrainian missiles struck the Chonhar road bridge connecting Crimea with Russian-held parts of the southern Kherson region overnight, forcing traffic to be diverted to a different route, Russian-appointed officials said on Thursday. The so-called "gate to Crimea", known by Russians with a different spelling as the Chongar Bridge, is one of a handful of links between Crimea - which Moscow annexed from Ukraine in 2014 - and mainland Ukraine. It is on a route used by the Russian military to move between Crimea and other parts of Ukraine under its control. A link between the Kherson region and Crimea continues to operate - a reserve route has been temporarily organised for vehicular traffic."

Persons: Read, Vladimir Saldo, Saldo, Sergey Aksyonov, Tom Hogue, Simon Cameron, Moore, Andrew Cawthorne Organizations: Russian, Moscow, Reuters, Thomson Locations: Russian, Ukraine's Kherson, Ukrainian, Kherson, Crimea, Moscow, Ukraine, Kyiv

☆ U.S. to slap new sanctions on Myanmar state-owned banks - sources
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +3 min

The Thai reports, published on Tuesday, said Washington would announce new sanctions on Myanmar Foreign Trade Bank and Myanmar Investment and Commercial Bank as early as Wednesday. A spokesman for Myanmar's military junta said it was not worried about any new sanctions. Zaw Min Tun told the state media channel MWD on Tuesday evening that the country has experienced sanctions before and they will not face losses if there are new sanctions on Myanmar state-owned banks. He said the United States was "just doing this to cause difficulties in economics and politics". One of the Thai media reports, by Bangkok Business News, cited Thai sources as saying the sanctions would impact Thailand and other countries in the region financially because of connections with local banks.

Persons: Washington, Aung, Kyi, Min Tun, Critics, Prayuth Chan, Panu, Poppy McPherson, Kay Johnson, Raju Gopalakrishnan, Simon Cameron, Moore Organizations: United, Myanmar Foreign Trade Bank, Myanmar Investment, Commercial Bank, Reuters, Embassy, Bangkok Business, Thai, Thomson Locations: BANGKOK, United States, U.S, Thailand, States, Myanmar, Bangkok, Pattaya, ASEAN

☆ Australia's unemployment rate needs to rise to curb inflation - top c.banker
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, June 20 (Reuters) - Australia's unemployment rate needs to rise to help contain inflation and avoid higher interest rates and a deep recession, a top central banker warned on Tuesday, after data showed little loosening in a still drum-tight labour market. Reserve Bank of Australia (RBA) Deputy Governor Michelle Bullock said the jobless rate would need to rise to about 4.5% from the current rate of 3.6% to bring the economy back into balance, a rate still well below pre-pandemic levels. Indeed, Bullock also warned that if inflation were to become entrenched in people's expectations, that would mean higher rates and a larger rise in unemployment. "A deep and long-lasting recession would be likely, which would mean a substantial rise in the unemployment rate." Reporting by Stella Qiu; Editing by Jacqueline Wong & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Michelle Bullock, Bullock, Stella Qiu, Jacqueline Wong, Simon Cameron, Moore Organizations: SYDNEY, Reserve Bank of Australia, Ai Group, Thomson Locations: Newcastle

ISLAMABAD, June 20 (Reuters) - Pakistan and China signed a $4.8 billion deal on Tuesday to build a 1,200-megawatt nuclear power plant, Prime Minister Shehbaz Sharif said, hailing the investment by a country that Pakistan views as its most dependable ally. Pakistan's total nuclear energy production capacity rose to 1,400 mw, when the country's sixth nuclear power plant opened two years ago. Located in the southern port city of Karachi, that 1,100 mw plant was also constructed with Chinese assistance. It is unclear whether the new investment is part of the $65 billion that China has pledged in infrastructure building for Pakistan under its Belt and Road Initiative. Instead, he said, the Chinese had disbursed an initial 30 billion Pakistani rupees ($104.53 million) to start the project.

Persons: Shehbaz Sharif, Sharif, Asif Shahzad, Simon Cameron, Moore Organizations: PTV, China National Nuclear Cooperation, Pakistan Atomic Energy Commission, Initiative, Thomson Locations: ISLAMABAD, Pakistan, China, Punjab, Karachi

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