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BEIJING, July 5 (Reuters) - China's Commerce Minister told foreign pharmaceuticals firms they can expect "more development opportunities" during a roundtable on Wednesday, his ministry said, as drugmakers bemoan government procurement policies pricing them out of the market. Foreign pharmaceuticals firms have struggled to cement any inroads they have made into the world's second-largest economy, with the government maintaining a drug procurement programme that forces them to slash their prices and refusing to approve the use of any foreign COVID-19 vaccines during the pandemic. But as China pursues home-grown modernisation it will also open up "more development opportunities for foreign-funded enterprises, including the pharmaceutical industry," Wang told the meeting. Wang told the meeting on Wednesday that his ministry will expand the channels of communication for responding to and solving concerns, with the meeting resulting in 25 specific suggestions to be taken forward. Reporting by Joe Cash; Additional reporting by Kevin Yao;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.

Persons: Roche, Takeda, Wang Wentao, Wang, Li Qiang, Li, drugmakers, Joe Cash, Kevin Yao, Elaine Hardcastle Organizations: China's Commerce, AstraZeneca, Bayer, Merck, Novo Nordisk, Pfizer, Sanofi, Moderna, Wednesday, Economic, Thomson Locations: BEIJING, China, Tianjin

Putin used his moment to speak at the one-day summit to give his answer to that question. That event stretched over two in-person days in Samarkand, Uzbekistan and featured a number of sideline meetings between attending leaders. India announced last month that its leaders’ summit would be held virtually, without specifying why. At last year’s SCO summit, Modi told Putin in “today’s era is not an era of war.”And India has its own friction with neighboring China. In May, Pakistani Foreign Minister Bilawal Bhutto Zardari became the most senior-level official to visit India in seven years, when he joined a SCO foreign ministers meeting.

Persons: Hong Kong CNN — Vladimir Putin, Narendra Modi, Putin, Wagner, ”, ” Putin, China’s Xi, Belarus ’ Alexander Lukashenko, Iran’s Ebrahim Raisi, ” Modi, Modi, Joe Biden, Xi, ” Xi, Biden, “, Bilawal Bhutto Zardari, Yevgeny Prigozhin Organizations: Hong Kong CNN, Shanghai Cooperation Organization, SCO, Indian, India, China’s Foreign Ministry, India’s Ministry, External, CNN, Pakistani, Belarus Locations: Hong Kong, Moscow, Russian, Ukraine, Belarus, Russia, spreadheaded, China, India, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Eurasia, Tuesday’s, Iran, Beijing, Samarkand, New Delhi, Pacific, ”

CNN —Japan will soon begin releasing treated radioactive water into the ocean following approval from the United Nations’ nuclear watchdog for a controversial plan that comes 12 years after the Fukushima nuclear meltdown. Radioactive wastewater contains some dangerous elements, but the majority of these can be removed from the water, said TEPCO. The real issue is a hydrogen isotope called radioactive tritium, which cannot be taken away. A survey by Asahi Shimbun in March found that 51% of 1,304 respondents supported the wastewater release, while 41% opposed it. People in Tokyo protest against the Japanese government's plan to release nuclear wastewater into the sea on May 16, 2023.

Persons: Rafael Grossi, Fumio Kishida, Daniel Campisi, Grossi, ” Robert H, Richmond, ”, ” Grossi, “, Han Duck, Yonhap, aren’t, Tim Mousseau, Wang Yiliang, Zhang Xiaoyu Organizations: CNN, United Nations, International Atomic Energy Agency, IAEA, UN, Tokyo Electric Power Company, TEPCO, Canadian Nuclear Safety Commission, US Nuclear Regulatory Commission, Kewalo, Laboratory, University of Hawaii, Forum, World Health Organization, State Department, Atomic Energy Council, Pacific Islands Forum, Korean, US, Nuclear Regulatory Commission, University of South, Reuters, Getty, Asahi Shimbun, – Locations: Japan, Fukushima, China, Manoa, Richmond, Asia, Pacific, California, Taiwan, Australia, New Zealand, University of South Carolina, South Korea, Seoul, Xinhua, Tokyo

July 3 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Purchasing managers index (PMI) reports on Monday from across the Asia-Pacific region, including China, India, South Korea and Australia, will give the first glimpse into private sector services and factory activity in June. Monday's Asian economic calendar is dominated by a raft of manufacturing PMIs including China's, Indonesian inflation, Japan's 'tankan' business sentiment survey for the second quarter, and Australian housing. China's Caixin manufacturing PMI is expected to fall to 50.2 from 50.9, signaling a slowdown in factory sector growth almost the point of stagnation. The official PMI, expected to show a third month of contraction, will be released on Friday.

Persons: Jamie McGeever, Josie Kao Organizations: Japan's Nikkei, U.S, PMI, Equity, Indonesia CPI, Thomson, Reuters Locations: Asia, Japan, Pacific, China, India, South Korea, Australia, Indonesia, Thailand, Philippines, Taiwan, Malaysia

The non-manufacturing PMI fell to 53.2 from 54.50 in May, indicating a slowdown in service sector activity and construction. Nomura has been the most bearish, cutting its forecast for growth in China's gross domestic product (GDP) this year to 5.1% from 5.5%. "This indicates the urgent need for a more powerful package of policy measures... to ensure the annual growth targets," he added. The government has set a modest GDP growth target of about 5% for this year after badly missing its 2022 goal. China's cabinet this month pledged to promote a sustained economic recovery "in a timely manner".

Persons: Rob Carnell, Julian Evans, Pritchard, Nomura, Bruce Pang, Jones Lang LaSalle, Li Qiang, ING's Carnell, Joe Cash, Sam Holmes Organizations: . Services, National Bureau, Statistics, ING, Capital Economics, PMI, Jones, Reuters, Thomson Locations: BEIJING, China, Asia, Pacific, Tianjin, Beijing

BEIJING, June 30 (Reuters) - China's manufacturing activity contracted for a third straight month in June, albeit at a slower pace, an official factory survey showed on Friday, as pressure builds for policymakers to release more stimulus to shore up weak demand. "Economic momentum is still quite weak in China," said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management in a note. "It is not clear if the weak economic data would push the government to launch aggressive stimulus measures soon," he added. The official non-manufacturing PMI fell to 53.2 from 54.50 in May, indicating a slowdown in service sector activity and construction. The composite PMI, which includes both manufacturing and non-manufacturing activity, dropped to 52.3 from 52.9.

Persons: Zhiwei Zhang, Nomura, Li Qiang, Joe Cash, Sam Holmes Organizations: . Services, National Bureau, Statistics, Reuters, PMI, Thomson Locations: BEIJING, China, Tianjin, Beijing

BEIJING, June 29 (Reuters) - The value of Chinese debt relief decreased by over 50% between 2021 and 2022, a report from Rhodium Group showed, with Angola alone receiving two thirds of deferrals despite China backing multilateral efforts to standardise support for poor countries. As the world's largest bilateral creditor, China is central to talks on making tangible progress in providing debt relief to emerging and frontier markets through the Group of 20-led "Common Framework" as well as the World Bank and International Monetary Fund (IMF). And although debtor countries did secure a large volume of deferrals in 2021 - the year the World Bank's Debt Service Suspension Initiative (DSSI) morphed into the G20's Common Framework - that fails to explain fully the sharp drop in the value of Chinese debt relief since. China's most visible action on debt relief was writing off zero-interest loans, the report added, while warning that fewer such loans will be available for China to write off in the coming years. Reporting by Joe Cash; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Cash, Chizu Organizations: World Bank, International Monetary Fund, IMF, Thomson Locations: BEIJING, Angola, deferrals, China, Pakistan, Kenya, Republic of Congo, Zambia, Chad, Ethiopia, Ghana

[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

The hectic pace of activity comes after private credit funds targeting Asia jumped 76% last year to a record $11.2 billion, driven by both regional and India-dedicated strategies, according to Global Private Capital Association. As large global sponsors continue to invest into multi-billion dollar Asia-focused credit funds such as Apollo, Blackstone and KKR, the Asian private credit industry is set for further boom, Robert Wright, partner in law firm Baker McKenzie, said. The string of new private credit funds come against the backdrop of startups facing the threat of having down rounds. Nevertheless, alternative financing such as private credit does not come cheap, industry experts warned. Private credit firms usually arrange loans, with assets secured, on a floating rate basis.

Persons: GPCA, Singapore's SeaTown, Europe's 21yield, Nicholas Mairone, Robert Wright, Baker McKenzie, SeaTown, Rakshat Kapoor, Camille Krejci, Parthiv Rishi, Sidley Austin, Siew Kam Boon, Yantoultra Ngui, Sumeet Chatterjee Organizations: Asia, SINGAPORE, Global Private Capital Association . Industry, Silicon Valley Bank, Blackstone, KKR, Reuters Graphics, Bain Capital, India's, Mahindra Bank, Hong Kong's ADM, SoftBank Investment Advisers, Reuters, Prosus NV, Thomson Locations: Asia, India, Singapore, United States, North America, Silicon, Pacific, Japan, Hong Kong

☆ New Zealand signs range of pacts with China
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: 1 min

[1/5] Chinese Premier Li Qiang and New Zealand Prime Minister Chris Hipkins shake hands during a signing ceremony at the Great Hall of the People in Beijing on June 28, 2023. JADE GAO/Pool via REUTERSSYDNEY, June 28 (Reuters) - New Zealand said on Wednesday it had signed a range of cooperative arrangements with China on trade, agriculture, forestry, education, and science and innovation. New Zealand Prime Minister Chris Hipkins and Chinese Premier Li Qiang also discussed the Indo-Pacific region, tensions in the South China Sea and Taiwan Strait, Wellington said in a statement. Reporting by Lewis Jackson in Sydney, editing by Alasdair PalOur Standards: The Thomson Reuters Trust Principles.

Persons: Li Qiang, Chris Hipkins, JADE, Lewis Jackson, Alasdair Pal Organizations: Zealand, of, People, JADE GAO, REUTERS, Thomson Locations: Beijing, REUTERS SYDNEY, New Zealand, China, South, Sea, Taiwan Strait, Wellington, Sydney

☆ German Defense Minister Vows Stronger Geopolitical Role Ahead of U.S. Visit
▼ + stars: | 2023-06-28 | by ( Erika Solomon | ) www.nytimes.com time to read: +1 min

In an interview before his first official visit to Washington, Germany’s defense minister staked out a broad geopolitical vision, taking pains to indicate that his country is ready to assume a more assertive stance in the face of growing international instability. The defense minister, Boris Pistorius, laid out plans for Germany to increase its arms deliveries and take a more robust role in both the Indo-Pacific region and in military leadership in Europe. He spoke to The New York Times before traveling to meet his U.S. counterpart, Secretary of Defense Lloyd Austin, as well as the national security adviser, Jake Sullivan, on Wednesday in Washington. The minister has been a part of Germany’s effort to change allies’ perceptions of his country as reluctant to take up leadership in Europe in the wake of Russia’s invasion of Ukraine — a view fostered by its slow initial pace in delivering weapons to Kyiv and its stumbling efforts to fulfill a pledge to revitalize its own military. Mr. Pistorius’s candor when discussing such topics has made him one of Germany’s most popular politicians, even when he sometimes goes further than some Germans, still haunted by their country’s World War II history, find comfortable.

Persons: Boris Pistorius, Defense Lloyd Austin, Jake Sullivan, Pistorius’s Organizations: New York Times, U.S ., Defense Locations: Washington, Germany, Europe, Ukraine

☆ China offers closer military cooperation with Vietnam
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 27 (Reuters) - China is willing to work with Vietnam to strengthen high-level communication and cooperation between their militaries, Chinese Defence Minister Li Shangfu said on Tuesday as he met his Vietnamese counterpart. Li told Phan that relations between their militaries had developed well, adding that China's military was willing to push relations to a new level. The U.S. navy visit comes amid tension between China and the United States in the South China Sea, most of which China claims, as the two powers jostle for influence in the energy-rich region. Li, appointed defence minister in March, is under U.S. sanctions over his role in a 2017 weapons purchase from Russia's largest arms exporter. As tensions simmer in the South China Sea, where several countries have overlapping territorial claims and also hold military exercises in its waters, any thaw in Sino-U.S. military relations is being closely watched.

Persons: Li Shangfu, Li, Phan Van Giang, Phan, Ronald Reagan, Lloyd Austin, Austin, Nancy Pelosi, Bernard Orr, Kim Coghill, Robert Birsel Organizations: Chinese Defence, U.S, aircraft, U.S . Defence, Beijing, Thomson Locations: BEIJING, China, Vietnam, Beijing, Asia, Pacific, Danang, U.S, United States, South China, Singapore, Taiwan

☆ He spent 250,000 euros to renovate a penthouse in Barcelona. This is what it looks like
▼ + stars: | 2023-06-26 | by ( Audrey Wan | ) www.cnbc.com time to read: +4 min

Within five years of moving to Europe, businessman Douglas Loewe "fell in love" with Barcelona, he said. The main living area of Loewe's apartment in Barcelona, called Aribau 133 Sobre Atic. In total, Loewe said he spent about 250,000 euros on the renovation. Douglas LoeweLocated "around the corner" of the apartment is tapas restaurant Paco Meralgo, which is "a Barcelona institution," Loewe said. Douglas Loewe

Persons: Douglas Loewe, Loewe, —, Matthew Coe, Coe, …, Leon Rosen, Paco Meralgo, " Coe Organizations: Macquarie, VistaFutura Associates, Pace, Familia, Foreigners Locations: Europe, Barcelona, Manhattan, Rosen's, Tibidabo, Spain, U.S, Denver, Chicago, Miami, Barcelona's, Asia, Pacific

☆ Renewables growth did not dent fossil fuel dominance in 2022, report says
▼ + stars: | 2023-06-25 | by ( ) www.reuters.com time to read: +5 min

Energy consumption grew everywhere apart from Europe, including Eastern Europe. Renewables, excluding hydropower, accounted for 7.5% of global energy consumption, around 1% higher than the previous year. The share of fossil fuels in global energy consumption remained at 82%. Most oil demand growth came from revived appetite for jet fuel and diesel-related products. Europe accounted for much of LNG demand growth, increasing its imports by 57%, while countries in the Asia-Pacific region and South and Central America reduced purchases.

Persons: Juliet Davenport, consultancies, Shadia, Philippa Fletcher Organizations: Belchatow, REUTERS, Stezycki Companies, World Energy, Energy, Energy Institute, consultancies KPMG, Kearny, BP, Renewables, OECD, Central America, Thomson Locations: Zlobnica, Poland, Ukraine, Europe, Asia, Paris, Eastern Europe, United States, Nigeria, North America, Pacific, South, Central, Japan, China, India, Indonesia

☆ U.S. luxury sales increasingly coming from high-end shoppers, Bain & Co says
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 23 (Reuters) - Luxury brands focused on wealthier consumers in the United States are performing better than those who appeal to aspirational shoppers on lower incomes who are deterred by the economic uncertainty, consultancy Bain & company said. For example, premium fashion retailer Hugo Boss last week raised its sales and profit targets for 2025 and said it continued to see strong growth in the U.S. and was expecting revenue to grow in the Asia-Pacific region. Lovato said that while there were "some questions marks" about China, and possibly a slowing of sales growth with the middle class, there was still appetite there. Luxury sales stood at 345 billion euros last year, according to Bain. Reporting by Mimosa Spencer and Elisa Anzolin; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, People, Saks Fifth, REUTERS, Thomson Locations: United States, China, New York City, U.S, Asia, Pacific

☆ U.S. luxury sales increasingly coming from high-end shoppers - Bain
▼ + stars: | 2023-06-23 | by ( ) www.reuters.com time to read: +2 min

Persons: Bain, Federica Levato, Hugo Boss, Lovato, Mimosa Spencer, Elisa Anzolin, Alison Williams Organizations: Bain, Reuters, Thomson Locations: United States, China, U.S, Asia, Pacific

WHAT IS THE COMMON FRAMEWORK? The Common Framework requires debtor countries to secure restructuring assurances from any bilateral lenders first and commercial and multilateral lenders second - to Beijing's dismay. "We call on multilateral financial institutions and commercial lenders, who are the main creditors for developing countries, to participate in developing countries' debt relief efforts," Mao said. In Paris, analysts expect China to continue to voice support for the Common Framework but for debt relief to be dispensed "case-by-case". The last time global policymakers met to discuss the Common Framework in Washington, China proposed the IMF should speed up and improve information sharing on debt sustainability analyses.

Persons: Li Qiang, acceding, Yi Gang, Mao Ning, Mao, Qin Gang, Sri, Wang Wenbin, Joe Cash, Ryan Woo, Shri Navaratnam Organizations: Paris Club, International Monetary Fund, Bank, IMF, World Bank, Foreign Ministry, China's, France, Thomson Locations: Paris, China, Zambia, Chad, Ethiopia, Ghana, United States, U.S, Beijing, Washington, CHINA, Addis Ababa, Japan, India, France, Sri Lanka's

[1/2] U.S. President Joe Biden and first lady Jill Biden meet India?s Prime Minister Narendra Modi in Washington, U.S., June 21, 2023. In a rare gesture, Modi has agreed to take questions from reporters with Biden at the White House on Thursday. He has not conducted a news conference since becoming prime minister nine years ago. At the same time, Biden plans to raise human rights concerns with Modi amid worries about democratic backsliding in India. Biden is under pressure by his fellow Democrats to discuss human rights with Modi.

Persons: Joe Biden, Jill Biden, Narendra Modi, Biden, Modi, Modi's, Elon Musk, Musk, Steve Holland, Nandita Bose, Shri Navaratnam Organizations: India's Press, REUTERS, Indian, Washington, Oval Office, White, Senior Biden, United, General Electric Co, U.S . Navy, U.S ., U.S, chipmaker Micron, Modi . Rights, Wednesday, Tesla, Thomson Locations: Washington , U.S, REUTERS WASHINGTON, U.S, Washington, India, China, United States, Australia, Gujarata, backsliding, New York

[1/2] U.S. President Joe Biden and first lady Jill Biden meet India?s Prime Minister Narendra Modi in Washington, U.S., June 21, 2023. In a rare gesture, Modi has agreed to take questions from reporters with Biden at the White House on Thursday. Modi has not conducted a news conference since becoming prime minister nine years ago and his visit has drawn attention to concerns over human rights in India. Washington wants India to be a strategic counterweight to China and sees India as a critical partnership. Biden is under pressure from his fellow Democrats to discuss human rights with Modi.

Persons: Joe Biden, Jill Biden, Narendra Modi, Biden, Modi, Representatives Alexandria Ocasio, Ilhan Omar, Rashida, Cortez, Elon Musk, Musk, Steve Holland, Nandita Bose, Shri Navaratnam, Heather Timmons, Sharon Singleton Organizations: India's Press, REUTERS, Indian, Washington, Oval Office, White, Senior Biden, United, General Electric Co, GE, Hindustan Aeronautics Ltd, U.S . Navy, U.S ., U.S, chipmaker Micron, Representatives, Rights, Wednesday, Tesla, Thomson Locations: Washington , U.S, REUTERS WASHINGTON, U.S, India, Washington, China, United States, Australia, Gujarat, The U.S, backsliding, Cortez, New York

Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. They considered it a victory that the administration had persuaded Mr. Modi, who famously refuses to hold news conferences, to meet with reporters alongside Mr. Biden, as most major world leaders do when they visit the White House. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

Persons: Biden, Narendra Modi, Modi, “, ” Mr, ’, Mr, ”, Doug Mills, China’s, Atomics, Biden’s, Alexandria Ocasio, Cortez, “ Modi, Pete Marovich, Kamala Harris, Harris, Harris’s, Erin Schaff, Joshua Bell Organizations: White, “, New York Times, Artemis Accords, International Space Station, General Electric, Hindustan Aeronautics Limited, Boeing, Biden, New York Times “ Equity, United States, ”, Cortez of New York, Twitter, The New York Times, Mr, The New York, Penn Masala, University of Pennsylvania, U.S . Marine Locations: India, United States, Russia, China, U.S, Moscow, Beijing, American, Ukraine, Russian, New York Times India, New Delhi, Cortez of New, portobello, Asian

☆ Biden Welcomes Indian Leader With a 21-Gun Salute
▼ + stars: | 2023-06-22 | by ( Mujib Mashal | Karoun Demirjian | ) www.nytimes.com time to read: +8 min

Mr. Biden celebrated India’s rise with a lavish display of friendship marked by marching bands, honor guards and a 21-gun salute on the South Lawn, to be followed by an Oval Office meeting and a gala state dinner. Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

India's top solar power producing state Rajasthan has been getting "early warnings" of technical challenges that could arise as the use of renewables increases, a federal power ministry official said. "If proper tariff structures incentivising flexible thermal generation are not introduced, it could result in slower renewable energy adoption," he said. Reuters GraphicsSOLAR, PLUS COALGreen energy capacity in Asia grew 12% in 2022, the fastest rate among major regions, according to the International Renewable Energy Agency. However, authorities in India's sun-drenched Rajasthan state are finding it increasingly difficult to control voltage fluctuations due to the inconsistent nature of solar power output. "Many of these renewable plants are not actually able to comply with such requirements," the official said.

Persons: Rystad, Wood Mackenzie, Lauri Myllyvirta, Pablo Hevia, Koch, Hevia, Florence Tan, Yuka Obayashi, Andrew Hayley, Fransiska, Gopal Sharma, Mei Mei Chu, Joyce Lee, Tony Munroe, Jamie Freed Organizations: Engie, Centre for Research, Clean Energy, Air, Reuters, International Renewable Energy Agency, International Energy Agency, Thomson Locations: China, India, Asia, Wood Mackenzie SINGAPORE, Rajasthan, Pacific, Malaysia, Pakistan, Bangladesh, Vietnam, Singapore, Tokyo, Bangkok, Beijing, Jakarta, Khanh Vu, Hanoi, Kathmandu, Kuala Lumpur, Seoul

☆ Biden, Modi take careful aim at China, Russia in joint statement
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

Washington has been frustrated by India's close ties with Russia while Moscow wages war in Ukraine. Modi did not address China or Russia directly, and Biden only mentioned China in response to a reporter's question. But a joint statement issued by the two after their 2.5 hour private meeting seemed to take aim at both nations. INTERNATIONAL ORDERThe two sides emphasized the importance of "rules-based international order," saying "the contemporary global order has been built on principles of the UN Charter, international law, and respect for sovereignty and territorial integrity of states." Both countries pledged "continuing humanitarian assistance to the people of Ukraine" and "concurred on the importance of post-conflict reconstruction in Ukraine."

Persons: Narendra Modi, Joe Biden, Washington, India's, Modi, Biden, Jeff Mason, Heather Timmons, Jamie Freed Organizations: Indian, UN Charter, SOUTH CHINA SEA, United Nations Convention, South China, Thomson Locations: United States, India, Washington, Russia, Moscow, Ukraine, China, UKRAINE, Pacific, East, South

After an initial rise, sterling fell as much as 0.56% against the dollar to a low of $1.2691 following this month's inflation figures. Investors and money managers now turn their focus to Fed chief Jerome Powell's testimony before Congress at 10:00 a.m. "The former may do more to give additional support to send the dollar index and (bond) yields higher." The rally against the yen pushed the U.S. dollar index , which measures the currency against six major peers, up slightly to 102.58. "The Aussie could dip below 0.6700 this week, particularly if Powell is hawkish," he said.

Persons: Powell, Jerome Powell's, Adam Cole, Kazuo Ueda, Tuesday's, Joe Capurso, Bitcoin, Charles Schwab, Tom Westbrook, Farouq Suleiman, Sam Holmes, Kim Coghill, Sharon Singleton Organizations: Federal, RBC Capital Markets, Bank of Japan, U.S, Commonwealth Bank of Australia, Fidelity, Citadel Securities, Thomson Locations: SINGAPORE, LONDON, Asia, Pacific, China, Tokyo

☆ Japan sees 1.9 million visitors in May, down from cherry blossom rush
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +2 min

TOKYO, June 21 (Reuters) - Japan saw a slight decline in visitors in May from the previous month, when a rush of tourists came to see the nation's famous cherry blossoms without COVID-19 restrictions, official data showed on Wednesday. The number of foreign visitors for business and leisure came in just below 1.9 million last month from a post-pandemic high of 1.95 million in April, the Japan National Tourism Organisation (JNTO) said. Meanwhile, the yen has weakened sharply against other major currencies, making trips to Japan the cheapest in many years. "Japan has been viewed for a long time as a bucket list country by North American leisure travellers," she said. "Now that Japan has reopened to tourists and the current exchange rate makes leisure trips less expensive, we think this trend will continue to grow."

Persons: Jefferies, Mitsuko Miyasako, Kiyo Weiss, Rocky Swift, Varun, Gerry Doyle Organizations: Japan National Tourism Organisation, Consumer, J.Front, Air, Thomson Locations: TOKYO, Japan, China, Tourism, Osaka, Kyoto, Asia, Pacific, American

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