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BRUSSELS, May 12 (Reuters) - Turkey's elections on Sunday are a key moment not just for the country itself but also for its European neighbours. Its internationally recognised government, composed of Greek Cypriots, is an EU member, while the breakaway Turkish Cypriot state is recognised only by Ankara. However, EU officials see little sign that Kilicdaroglu would change much on Cyprus. EU leaders designated Turkey as a candidate to join the bloc in 2004 but the talks ground to a halt years ago. There is already a lot of European money that has made its way to Turkey," said a European diplomat.

☆ Analysis: North Africa backslides toward swirling debt troubles
▼ + stars: | 2023-05-11 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Making debt payments could become almost impossible. EGYPTEgypt's finances also look stretched despite it securing a $3 billion IMF rescue plan in December. The rating agency, which downgraded Egypt's credit rating again on Friday, highlights that only default-stricken Sri Lanka would need to pay more. "It would not be immaterial if it were to default" Ross said about the impact on global money managers. "These very wealthy Gulf countries have generally enhanced financial stability in the region," via their support he added.

They have limited themselves to one meal a day, hoping their dwindling food supplies will last a month longer. "After that, we don't know what we'll do except survive off water and dates," he said by phone from Sudan's embattled capital. They face dwindling food supplies, power cuts, water shortages and patchy telecoms. He would have left Sudan but couldn't because he lost his passport before the fighting began. Life had come to a complete standstill, said Ahmed Khalid, 22, a college student still in Khartoum.

☆ Cluster of Chinese vessels spotted near Russian rig off Vietnam - ship monitors
▼ + stars: | 2023-05-10 | by ( Francesco Guarascio | Thomson Reuters | Francesco Leads A Team Of Reporters In Vietnam That Covers Top Financial | ) www.reuters.com time to read: +3 min

Strong relations between Russia and China are a major factor supporting global stability, Russian Defence Minister Sergei Shoigu said in March, but the two countries have conflicting interests in the South China Sea. "Chinese fishing and scientific research vessels carry out normal production and work activities in maritime areas under China's jurisdiction," it said. It made similar remarks on Tuesday after Chinese boats approached an area where the navies of India and Southeast Asian countries held exercises. On Wednesday, the Chinese vessels were about 10 nautical miles (18 km) from the Japanese operating rig and about 20 miles from the Russia-Vietnam rig, according to South China Sea Chronicle Initiative (SCSCI), an independent non-profit. The Chinese research vessel moved at full speed before entering Vietnam's EEZ but slowed to 4-5 knots, suggesting the ship was conducting a survey there, said SCSCI's Van Pham.

Farmers in Poland and other eastern European countries who held out for higher prices have been hit by a perfect storm. A jump in exports from Brazil and Russia helped to drive global grain prices lower while the EU opened its borders to tariff-free Ukrainian grain imports in a show of solidarity after Russia blocked the country's Black Sea ports. After opening its borders to Ukrainian grain, Poland imported 2.08 million tonnes of maize and 579,315 tonnes of wheat last year, up from just 6,269 tonnes of maize and 3,033 tonnes of wheat in 2021. If the grain corridor due to expire this month were to collapse, Ukrainian farmers would have little option but to send all their grain exports through eastern Europe. European wheat prices hit post-harvest highs in October 2022 of more than 350 euros a tonne but since then prices have dropped to pre-invasion levels of about 235 euros.

☆ Factbox: How big is the aid crisis caused by the Sudan fighting?
▼ + stars: | 2023-05-09 | by ( Emma Farge | ) www.reuters.com time to read: +4 min

SUDAN* More than 330,000 people have been displaced in Sudan since April 15, according to the International Organization for Migration. An internal U.N. estimate obtained by Reuters shows this figure is expected to increase by 5 million, including 2.5 million children. * A $1.75 billion U.N. aid programme for Sudan in 2023 is 15% funded. SOUTH SUDAN* Some 240,000 people are expected to flee from Sudan to South Sudan, UNHCR says. * The country's $1.7 billion U.N. aid programme for the year is 26% funded.

☆ Russia's version of NATO is crumbling, with even some of its closest allies frustrated by Putin's failing war in Ukraine
▼ + stars: | 2023-05-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +11 min

CSTO, Russia's equivalent of NATO, was never a powerhouse, but relations have become more strained. And Frankopan said that countries had likely stopped trusting Russia's military abilities. Marin also said that CSTO members don't seem interested in taking big risks to protect the alliance's future. AP Photo/Felipe Dana, FileRussia a 'toxic partner'According to Frankopan, regional backlash to Russia's invasion of Ukraine could be happening for multiple reasons, including ideological objections to Russia's brutal tactics. Marin said the Ukraine invasion had made Russia a "rather toxic partner" to most of its post-Soviet neighbours.

☆ Factbox: Key players in Turkey's election campaign
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +6 min

Turkey's longest-serving leader logged more than a dozen election victories and survived an attempted coup in 2016. CHP LEADER KEMAL KILICDAROGLUKilicdaroglu, 74, head of the main opposition Republican People's Party (CHP), was named the six-party opposition alliance's presidential candidate in March. HOMELAND PARTY LEADER MUHARREM INCEFormer physics teacher and headmaster Muharrem Ince, 58, is seen as having little chance of becoming president. OPPOSITION FIGURES:IYI PARTY LEADER MERAL AKSENERFormer interior minister Meral Aksener, 66, leads the second-largest party in the opposition alliance, the centrist and nationalist IYI Party. ANKARA MAYOR MANSUR YAVASNationalist politician and lawyer Mansur Yavas, 67, defeated the AKP's Ankara mayoral candidate 2019 as the CHP candidate backed by an opposition alliance.

☆ Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A hedge fund manager was awarded $203 million in damages after being defamed by former neighbor Peter Nygard. Disgraced fashion mogul Nygard accused Louis Bacon of arson, insider trading and links to the KKK. The decade-long dispute began following a quarrel over a driveway Nygard and Bacon shared. A hedge fund billionaire has been awarded $203 million after a New York court ruled he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway. Lawyers told the court Bacon had spent more than $50 million in legal fees bringing several defamation cases against Nygard.

BEIJING, May 8 (Reuters) - The Global Times, a hawkish Chinese state media tabloid, on Monday criticised a letter of protest sent to it by South Korea's embassy in China, the latest public spat amid worsening ties between the Asian neighbours. The South Korean embassy "expressed strong regret over a series of unreasonable slanderous articles" from the Global Times, in a letter of protest published Friday on its website. In its editorial, the Global Times slammed the embassy's "brutal interference in (its) independent reporting". South Korea's embassy in China did not immediately respond to a request for comment. In a similar incident last December, China's ambassador in South Korea criticised Korean media for stoking anti-China sentiment.

They were in the Vietnamese Exclusive Economic Zone when the Chinese boats moved towards them, the Indian sources said. Ray Powell, who leads Project Myoushu on the South China Sea at Stanford University, said the boats belong to the Qiong Sansha Yu militia fleet in the area. Such militias consist of commercial fishing boats, which work in coordination with the Chinese authorities for political objectives in the South China Sea. Several of China’s littoral neighbours have accused it of using its official and militia vessels to harass and intimidate their fishing and military boats in the South China Sea. China has for years claimed sovereignty over the entire South China Sea, and has been sensitive to the presence of other militaries in the region.

☆ Singapore firms scramble to soften blow of soaring rent costs
▼ + stars: | 2023-05-08 | by ( Chen Lin | ) www.reuters.com time to read: +5 min

But with private housing rents in Singapore maintaining the scorching pace of gains in 2023, those steps are likely falling short, forcing expatriate workers to even consider leaving the city for good. An exodus of foreign talent due to unaffordable housing costs would be a setback to Singapore in fulfilling its ambitions of becoming a technological and innovations hub. EXPAT WOESRecruitment companies said most expats in Singapore do not get housing allowances as companies are controlling their costs amid an uncertain global economy. That is cold comfort for Briton Natalie, who has been living in Singapore for 15 years and is facing a S$3,200 increment in monthly rent. ($1 = 1.3274 Singapore dollars)Reporting by Chen Lin in Singapore; Editing by Xinghui Kok and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Israel hands lawmaker held in gun-running case over to Jordan
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +1 min

JERUSALEM, May 7 (Reuters) - Israel on Sunday handed over to Jordan a member of the Jordanian parliament who had been held on suspicion of trying to smuggle weapons into the occupied West Bank. A Jordanian security source said the case will be brought to trial. Its investigation, Shin Bet said, determined that Adwan was smuggling for money and "indeed received large sums of money". Shin Bet said a number of suspects in Jordan have also been arrested by Jordanian authorities over their alleged involvement. Israel enjoys close security ties with Jordan, the Arab neighbour with which it shares its longest stretch of border, but political relations have soured in recent years.

☆ Street parties and a concert held to mark King Charles' coronation
▼ + stars: | 2023-05-06 | by ( Michael Holden | ) www.reuters.com time to read: +2 min

LONDON, May 7 (Reuters) - King Charles will attend a music concert featuring the likes of singers Lionel Richie, Katy Perry and Andrea Bocelli at Windsor Castle on Sunday after street parties are held across Britain as part of celebrations to mark his coronation. The royals have not been seen since an appearance on the balcony of Buckingham Palace following the coronation, but senior members will be out in force in Sunday. The king's younger brother Prince Edward, his sister Princess Anne and Princess Beatrice and Princess Eugenie, the daughter of Charles' other brother Prince Andrew, will attend 'Big Lunch' events, joining some of the estimated 50,000 thousand street parties being held around the country. Prime Minister Rishi Sunak will also be among those hosting a coronation lunch with the guests including Ukrainian families and youth groups. "Come rain or shine, thousands of friends and neighbours are coming together this weekend to put up the bunting, pour the tea and cut the cake at street parties and community events across the UK," he said in a statement.

☆ The Coronation of King Charles: Order of Service
▼ + stars: | 2023-05-06 | by ( ) edition.cnn.com time to read: +46 min

The Archbishop saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? Christopher Finney GC saysI here present unto you King Charles, your undoubted King: Wherefore all you who are come this day to do your homage and service, are you willing to do the same? We praise thee, we bless thee,we worship thee, we glorify thee,we give thanks to thee for thy great glory,O Lord God, heavenly King, God the Father Almighty. O clap your hands together, all ye people;O sing unto God with the voice of melody. The King touches the Ring and the Archbishop saysReceive this Ring, symbol of kingly dignity and a sign of the covenant sworn this day, between God and King, King and people.

☆ China assures Russia, India of deepening 'cooperation'
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +3 min

[1/3] India's Foreign Minister Subrahmanyam Jaishankar and his Chinese counterpart Qin Gang pose for a photograph during the SCO Council of Foreign Ministers' meeting in Goa, India, May 4, 2023. Currently the bloc includes Russia, India, China, Pakistan and four Central Asian countries - Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. Iran and Belarus are expected to be inducted into the SCO at a summit in New Delhi in July, an Indian foreign ministry official said. In a separate meeting with Indian Foreign Minister Subrahmanyam Jaishankar, Qin said China is willing to deepen "coordination and cooperation" on international and regional issues with India and bring ties back to a "healthy" track of development. China's ties with India have deteriorated since 2020, when their troops clashed on a disputed Himalayan border and 24 people were killed.

Speaking later at a press conference, Retno said it was vital to secure the trust of all those involved. "Indonesia is using non-megaphone diplomacy, this aims to build trust with all stakeholders, so they want to talk to us," she said. "Indonesia continues trying to play a bridging role to reduce a deep and sharp gap among the stakeholders." Representatives of the Myanmar junta and two armed ethnic groups did not respond to requests for comment. An Indonesian foreign ministry official confirmed the move to engage all stakeholders had the support of ASEAN members.

☆ Chinese troops to hold rare joint military exercise in Laos
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +2 min

BEIJING, May 5 (Reuters) - China will hold a rare joint military exercise with its landlocked neighbour Laos this month as Beijing tries to bolster security ties with regional allies to counter an expanding U.S. presence in Southeast Asia. Southern Theater Command, one of the five theatre commands of the People's Liberation Army, will send troops to Laos for the "Friendship Shield 2023" joint exercise, the Chinese defence ministry said on Friday in a brief statement. The drill marks a step up from previous "Peace Train" joint humanitarian medical rescue exercises between Chinese and Laotian militaries in Laos. China's stronger military ties with its Southeast Asian allies coincide with Beijing's diplomatic push to deepen engagement with its southerly neighbours. In November, Chinese President Xi Jinping told Laotian President Thongloun Sisoulith on a visit to Beijing that the two countries must ensure efforts to "build a shared future between China and Laos."

☆ Why have the United States and Philippines issued defence treaty guidelines?
▼ + stars: | 2023-05-04 | by ( Martin Petty | ) www.reuters.com time to read: +3 min

May 4 (Reuters) - The United States and the Philippines have agreed on new guidelines for their 1951 Mutual Defense Treaty, following multiple requests by Manila to make clear the conditions under which Washington would come to its defence. Though the United States has reassured the Philippines their defence partnership is "ironclad", Manila has argued the seven-decade-old treaty needs updating to reflect a different global security environment. Guidelines issued by the Pentagon now specifically mention that mutual defence commitments would be invoked if there were an armed attack on either country "anywhere in the South China Sea". Another addition specifies that coast guard vessels are among those protected. Some analysts have argued the Philippines and United States were better served by a more ambiguous mutual defence treaty.

The future of Credit Suisse's business in Switzerland is being closely watched as one of UBS's key strategic decisions. Credit Suisse's Swiss bank is one of the lender's four operating units and is seen as the jewel in the crown. In January, Credit Suisse had moved the business from its broader investment banking division into the Swiss unit, according to Credit Suisse's 2022 annual report. On a possible sale, Ermotti has said all options for the Swiss business are on the table. On Sunday, NZZ am Sonntag newspaper reported that UBS was working towards spinning off Credit Suisse's domestic unit.

☆ UN says aid trucks looted in 'volatile' Sudan, urges safe passage
▼ + stars: | 2023-05-03 | by ( Mohamed Nureldin Nafisa Eltahir | ) www.reuters.com time to read: +6 min

Summary Aid trucks looted, says United Nations aid chiefViolence undermining chance of lasting truceGuterres says situation 'unacceptable'UN aid chief Griffiths arrives in Port SudanImproving humanitarian access is a priority -UNKHARTOUM, May 3 (Reuters) - The United Nations said on Wednesday it was seeking assurances from Sudan's warring factions on the safe delivery of aid after six trucks of humanitarian supplies were looted and air strikes in Khartoum undermined a new ceasefire. The conflict has created a humanitarian crisis, with about 100,000 people forced to flee with little food or water to neighbouring countries, the United Nations said. Aid deliveries have been held up in a nation of 46 million people where about one-third had already relied on humanitarian assistance. A broader disaster could be in the making as Sudan's impoverished neighbours grapple with the influx of refugees. Caught between army air strikes overhead and RSF soldiers on the ground, many citizens feel forced to take sides.

☆ Israel says it is discussing possible direct Haj flights to Saudi Arabia
▼ + stars: | 2023-05-03 | by ( Dan Williams | ) www.reuters.com time to read: +2 min

Netanyahu's centrist predecessor, Yair Lapid, said on March 10 that, as prime minister last year, he secured Saudi consent for what would be the first direct Haj flights from Israel, some 18% of whose population are Muslim. Asked whether the direct flights would happen for next month's pilgrimage to the holy Saudi city of Mecca, Israeli Foreign Minister Eli Cohen said a request had been submitted. "But with that, I am optimistic that we can advance peace with Saudi Arabia." The Biden administration last June predicted there would be direct charter flights from Israel to Saudi Arabia for the Haj. Saudi Arabia has been allowing Israeli airlines to overfly it to UAE and Bahrain since 2020, a corridor that it and next-door Oman have since expanded to include other destinations.

☆ China's latest addition to its disputed South China Sea outpost: a hot pot restaurant
▼ + stars: | 2023-05-03 | by ( Laura Zhou | South China Morning Post | ) www.businessinsider.com time to read: +4 min

The restaurant opened in late April and can seat 120 at once, the local government says. Woody Island, known as Yongxing in China, is the largest outcrop in the group of about 30 islands making up the Paracels. The government, headquartered on Woody Island, administers both the Paracels and the also hotly contested Spratly island chain, which China calls the Nansha Islands. A satellite photo of Woody Island in March 2018. The centre is also seen as a way to demonstrate Beijing's sovereignty in the region by linking underwater artefacts from the South China Sea — "an important section of the Maritime Silk Road" — to Chinese cultural heritage.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. It also came as Asian policymakers, gathering for the annual Asian Development Bank (ADB) meeting this week in the South Korean city of Incheon, discussed regional economic challenges and ways to beef up buffers against various shocks. In a joint statement issued after their meeting on Tuesday, Asian finance leaders warned of risks to the region's economy and called for countries to stay vigilant to potential spillovers from the recent U.S. and European banking sector turmoil. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Choo is expected to visit Japan this year for another meeting with Suzuki, South Korea's finance ministry said.

The resumption of bilateral financial discussions comes ahead of Japanese Prime Minister Fumio Kishida's planned visit to South Korea on Sunday and Monday for talks with President Yoon Suk Yeol. Japan and South Korea will resume regular finance dialogue, likely to be held annually, at "an appropriate timing," Suzuki told reporters after the bilateral meeting. Washington has pressed both countries to resolve these disputes to better counter rising threats from China and North Korea and other regional challenges. Under Yoon, South Korea has resumed trilateral military drills and agreed to more intelligence sharing on issues like tracking ballistic missile launches from North Korea. China's finance minister and central bank head were not present at a trilateral meeting, with their deputies attending instead.

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