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☆ U.N. begins talks with Russia on Black Sea grains deal
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +1 min

GENEVA, Nov 11 (Reuters) - Talks between a Russian delegation and senior U.N. officials to address Moscow's grievances about the Black Sea grains export initiative began in Geneva on Friday, a U.N. spokesperson said. The negotiations come just eight days before the deal brokered by the United Nations and Turkey in July is due to be renewed. The accord has helped stave off a global food crisis by allowing the export of food and fertilisers from several of Ukraine's Black Sea ports. Moscow has indicated that it is prepared to quit the deal, which could expire on Nov. 19, if progress is not made on its concerns. It said it was responding to a drone attack on Moscow's fleet in Crimea that it blamed on Ukraine.

☆ IMF chief says rich countries alone can 'never close' the funding gap for climate change
▼ + stars: | 2022-11-07 | by ( Su-Lin Tan | ) www.cnbc.com time to read: +3 min

watch nowPublic aid and funding from governments of developed countries alone won't be enough to close the funding gap on climate change initiatives in developing countries, IMF chief Kristalina Georgieva told CNBC. More private investments are needed to help developing countries to meet their climate change targets, said the managing director of the International Monetary Fund. Public aid and funding from governments of developed countries alone would not be enough to close the funding gap on climate change initiatives in developing countries. Stability in developing countries also secures trade between advanced and developing countries, Georgieva said. Disruptions in supply chains caused by climate change events could pose a bigger risk than the one posed by the pandemic, she added.

☆ Russia returns to Black Sea grain deal in sudden U-turn
▼ + stars: | 2022-11-02 | by ( ) www.reuters.com time to read: +3 min

Nov 2 (Reuters) - Russia said on Wednesday it would renew its participation in an agreement allowing Ukraine to export grain via the Black Sea, just four days after suspending its role in the deal. The U-turn followed a phone call between Russian President Vladimir Putin and Turkish President Tayyip Erdogan on Tuesday, and after consultations between their defence ministers. "We did not bury this deal, but we did not expect Russia's return to it so soon either, as it was not very clear what kind of guarantees Russia could get and how quickly it would happen. Britain has denied involvement and accused Russia of trying to divert attention from its military failures in Ukraine. Despite the Russian move, ships had continued to export Ukrainian grain, and a record volume moved on Monday.

☆ More grain ships leave Ukraine ports despite Russian suspension
▼ + stars: | 2022-11-01 | by ( ) www.reuters.com time to read: +2 min

The statement said the ships' movement was agreed by the Ukrainian, Turkish and U.N. delegations at the Istanbul-based Joint Coordination Centre (JCC) and the Russian delegation had been informed. Coordinator for the Black Sea Grain Initiative, "continues his discussions with all three member state parties in an effort to resume full participation at the JCC," the statement said. Twelve ships set sail from Ukrainian ports on Monday, the single biggest day of exports since the programme began, while two arrived. The U.N. said no grain ships were using the Black Sea route on Saturday. U.N. and Turkish teams continued their inspections on Tuesday of outbound vessels anchored in Istanbul, the JCC statement said, having cleared 46 ships to sail on Monday.

☆ Spain frontloads subsidies for electric car projects as VW appears in doubt
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +2 min

Industry Ministry said that the subsidies to be disbursed this year under the so-called PERTE scheme using EU pandemic relief funds would rise to 877 million euros ($860 million) from 600 million euros, meaning the total planned amount of nearly 3 billion will be slightly more front-loaded. Volkswagen's Spanish unit SEAT, the Volkswagen Group and 60 associated companies want to mobilise 10 billion euros to electrify the automotive industry in Spain and turn the country into a hub for electric mobility in Europe, producing electric cars and batteries. Other projects vying for the funds focus mainly on batteries. SEAT was allocated 167 million euros in the PERTE programme's first provisional results announced on Aug. 1. "We will keep working with the VW-SEAT group and other producers for Spain to be a global reference for electric cars, including batteries," Prime Minister Pedro Sanchez said.

☆ Climate reparations may be ethical, but they aren't the best fix, climatologist says
▼ + stars: | 2022-10-05 | by ( Natalie Tham | ) www.cnbc.com time to read: +5 min

Fida Hussain | Afp | Getty ImagesCalls for climate reparations for poorer countries hit hard by climate change are growing louder after catastrophic floods in Pakistan. "[Climate reparations are] the ethical thing to do," said Friederike Otto, a climatologist at the University of Oxford, "but a more equitable world is much better able to solve the complex crises we deal with. However, though climate reparations appear to be a relatively straightforward solution, their implementation isn't, Otto said. At the same time, for climate reparations to be successful, there needs to be an official classification of weather and climate events and natural hazards, she added. Andrew King, a senior lecturer at the University of Melbourne, is another proponent of climate reparations.

☆ New Pakistan finance minister vows to tame inflation and cut interest rates
▼ + stars: | 2022-09-28 | by ( Asif Shahzad | ) www.reuters.com time to read: +5 min

Pakistan's likely new Finance Minister Ishaq Dar walks upon his arrival at the Nur Khan military airbase in Chaklala, Rawalpindi, Pakistan September 26, 2022. "We will control inflation," Dar told reporters in televised comments after he was sworn in. Register now for FREE unlimited access to Reuters.com Register"We will bring interest rates down," he said. WRECKED ECONOMYDar, a senior politician in the ruling party of Prime Minister Shehbaz Sharif, flew to Islamabad on Monday night after ending five years in self-exile in London. "I wasn't able to travel for the last four years," he added, describing the legal action against him as political victimisation by the previous government of Prime Minister Imran Khan.

☆ Morning Bid: Pounded
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. On Friday, gilts suffered their heaviest selling in decades, and before that, the yen and U.S. interest rate futures have been roiled. Global tension is also mounting over the war in Ukraine, as Russia holds widely-criticised votes aimed at annexing territory it has taken by force. Besides sterling, Asian stock markets fell on Monday. European futures fell 0.3% and S&P 500 futures fell 0.6%.

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