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☆ China's central bank calls for stronger defences against financial crisis
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +1 min

BEIJING, April 2 (Reuters) - China should accelerate legislation of the Financial Stability Law and improve other legal arrangements designed to prevent and dispose of financial risks, three officials from the People's Bank of China (PBOC) wrote in China Finance, a publication affiliated to the central bank. Financial authorities should strengthen supervision of financial institutions' date accuracy to prevent risks, the article said, saying if any enlightment should be drawn from the Silican Valley Bank crisis. China should also let the insurance deposit system play its full role, allowing the mechanism to deal with problematic banks in a swift and orderly manner, so as to effectively prevent systematic risks, said the authors, who are from PBOC's Financial Stability Bureau and the Deposit Insurance Corp.China's commercial banks as a whole are sound and stable, the article said. The authors said China should consolidate the capital reserves for dealing with financial risks to ensure that there are sufficient resources to dispose risks in a timely manner. Reporting by Sophie Yu, Brenda Goh Editing by Raissa KasolowskyOur Standards: The Thomson Reuters Trust Principles.

☆ Iran says it warned off US Navy aircraft close to Gulf of Oman
▼ + stars: | 2023-04-02 | by ( ) www.reuters.com time to read: +2 min

DUBAI, April 2 (Reuters) - The Iranian navy said it identified and warned off a U.S. reconnaissance plane near the Gulf of Oman on Sunday, the semi-official Tasnim news agency reported. "After the warning, the plane was prevented from entering the country's skies without authorization," said the report, identifying the plane as a U.S. Navy EP-3E. While the opening line of the Tasnim report said the aircraft had crossed into Iranian airspace, the same report also said the aircraft had not entered Iranian skies and had left after the warning. In 2019, Iran shot down a U.S. drone which it said was flying over southern Iran. Moscow has denied its forces used Iranian drones in Ukraine.

Eighteen out of 20 economists and market watchers surveyed said the central bank would hike rates, with 12 of them predicting a 200 bps increase. Two poll participants saw the benchmark raised by 100 bps, while four forecast a 150 bps hike. Worldwide growth in consumer prices has compounded high inflation in Pakistan caused by a weakening currency, energy tariff increases and elevated food prices due to Ramadan. The latest consumer price-based inflation clocked a 31.5% rise on year in February, the highest in nearly 50 years. The State Bank of Pakistan has raised rates by a total 10.25% since January 2022.

[1/2] General view of the site of the derailment of a train carrying hazardous waste, in East Palestine, Ohio, U.S., March 2, 2023. REUTERS/Alan FreedWASHINGTON, March 31 (Reuters) - The U.S. Justice Department on Thursday filed a lawsuit against Norfolk Southern Corp (NSC.N) over the Feb. 3 train derailment in East Palestine, Ohio. The state of Ohio filed a lawsuit against Norfolk Southern earlier this month. The U.S. lawsuit seeks to hold Norfolk Southern "accountable for unlawfully polluting the nation’s waterways and to ensure it pays the full cost of the environmental cleanup." Norfolk Southern did not immediately comment.

☆ France's Macron announces water saving plan, says protests will not stop reforms
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +3 min

[1/6] French President Emmanuel Macron speaks to members of the media as he visits Savines-Le-Lac, South Eastern France, March 30, 2023. With the water plan, Macron and his government are looking to move to other topics. "There are protests, but it does not mean everything must stop," Macron said. Before his speech, Macron told reporters that protests would not stop him from adopting new policies. In some towns, half the water is lost to water leaks, with a nationwide average of 20%.

☆ Analysis: French pension standoff causing cracks in Macron's camp, insiders say
▼ + stars: | 2023-03-30 | by ( Elizabeth Pineau | ) www.reuters.com time to read: +7 min

With no sign of the protests abating, insiders question whether Borne's government has lost control of the political messaging necessary to appease the street. The situation has deteriorated considerably since Macron decided on March 16 to adopt the reform using special constitutional powers to bypass parliament. When asked about the divisions, the president's office said the majority of Macron's camp remained strong and united. "There are still ministers who are saying 'we should have done this or that', No!," the source lamented. An official in Borne's office said the prime minister had made efforts to preserve unity among ministers and lawmakers.

☆ Hungary's foreign minister holds energy talks with Russia's premier
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

BUDAPEST, March 29 (Reuters) - Hungary's foreign minister held telephone talks with Russian Deputy Prime Minister Alexander Novak about gas and oil shipments as well as nuclear co-operation, the Hungarian minister said late on Tuesday. In a statement, Peter Szijjarto said Novak had reassured him that despite international sanctions, the Russian party would be able to do maintenance work on the Turkstream pipeline. "Thus Hungary's gas supply will continue without any disruptions," the statement added. The Turkstream gas pipeline will be stopped for maintenance from June 5 to 12, according to data on the website of Bulgarian gas transmission operator Bulgartransgaz. Szijjarto reiterated in his statement that Hungary would block any European Union sanctions that would affect nuclear energy.

JERUSALEM, March 29 (Reuters) - Israeli Prime Minister Benjamin Netanyahu voiced confidence on Wednesday that he would find compromise with the political opposition over his judicial overhaul after the contested reforms drew a strong reproach from U.S. President Joe Biden. Separately, Netanyahu predicted on Wednesday that Israel would join the U.S. Visa Waiver Programme in September after passing legislation required by Washington. The national guard was launched last year under former Prime Minister Naftali Bennett. "We don't trust the government and certainly not the prime minister and his gang," said 75-year-old retiree Chanoch Lipperman in Tel Aviv. But Biden, when asked by a reporter if he would be inviting Netanyahu, replied: "No, not in the near term."

☆ Top security aide for S.Korea's Yoon offers to resign
▼ + stars: | 2023-03-29 | by ( ) www.reuters.com time to read: +1 min

SEOUL, March 29 (Reuters) - A top security adviser for South Korean President Yoon Suk Yeol said on Wednesday he had offered to step down. His resignation comes ahead of Yoon's summit with U.S. President Joe Biden next month. Media reports said earlier National Security Adviser Kim Sung-han could be replaced over planning issues related to Yoon's visit to Washington. He added that Yoon's upcoming trip to the United States was being well prepared so his successor could take over smoothly. Yoon nominated Cho Tae-yong, ambassador to the United States, as Kim's successor, Yonhap news agency reported following the announcement.

☆ Party pressure mounts on Netanyahu to pause judicial overhaul
▼ + stars: | 2023-03-26 | by ( Dan Williams | ) www.reuters.com time to read: +3 min

Netanyahu, who is on trial on graft charges that he denies, says the overhaul will balance out the branches of government. Defence Minister Yoav Gallant, a Likud lawmaker, broke ranks on Saturday by publicly urging Netanyahu to suspend legislation for a month. Gallant's statement was welcomed by senior Likud lawmaker David Bitan. But it was not clear if they or others in Likud might abstain in a ratification vote. But a pro-reform Likud lawmaker, Tally Gotliv, sounded unfazed.

☆ Scotland's next leader to be announced with independence movement in crisis
▼ + stars: | 2023-03-26 | by ( Andrew Macaskill | ) www.reuters.com time to read: +4 min

[1/3] Scotland's Health Minister Humza Yousaf and Scotland's Finance Minister Kate Forbes, contenders to become the leader of the Scottish National Party (SNP) and Scotland's First Minister, attend the SNP leadership hustings, in Aberdeen, Scotland, Britain, March 12, 2023. REUTERS/Craig Brough/PoolLONDON, March 27 (Reuters) - The next leader of Scotland will be announced on Monday with the victor facing the challenge of uniting a country divided over its future and revitalising an independence movement that dreams of ending its three-centuries-long union with England. The Scottish National Party (SNP), which runs Scotland's semi-autonomous government, has been plunged into crisis since Nicola Sturgeon, the country's longest-serving leader, announced last month she was standing down after eight years, saying she had become too divisive to lead the nation to independence. Britain's vote to leave the European Union two years later when a majority of Scots wanted to stay, and Scotland's handling of the coronavirus pandemic brought new support for independence. However, an opinion poll showed the backing for independence dropped to 39% this month after touching a record 58% in 2020.

[1/5] A general view inside the Munich Airport during a strike called by the German trade union Verdi over a wage dispute, in Munich, Germany, March 26, 2023. "The people are not only underpaid, they are hopelessly overworked," Frank Werneke, head of the Verdi labour union, told Bild am Sonntag. The Verdi union is negotiating on behalf of around 2.5 million employees in the public sector, including in public transport and at airports. Railway and transport union EVG negotiates for around 230,000 employees at Deutsche Bahn (DBN.UL) and bus companies. "It is a matter of survival for many thousands of employees to get a considerable pay rise," he said.

☆ US Vice President Harris promises greater investment for Africa
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

[1/7] U.S. Vice President, Kamala Harris, arrives at the Kotoka International Airport as she begins her trip to Ghana, Tanzania and Zambia, in Accra, Ghana, March 26, 2023. The administration of U.S. President Joe Biden has sought to strengthen ties with Africa, in part to offer an alternative to rival powers. Biden is yet to visit Africa as president. On this trip, Harris will also discuss China's engagement in technology and economic issues in Africa that concern the United States, as well as China's involvement in debt restructuring, senior U.S. officials said last week. Harris will meet Ghana President Nana Akufo-Addo this week and will visit a former slave castle from which slaves were sent to America during the slave trade era.

[1/7] A view shows a forest parcel from which trees burned by the last summer's wildfires have been removed, in Landiras, in the Gironde region, France, March 20, 2023. Columns of white, acrid smoke rise from a forest floor outside the town of Hostens in the Gironde region, south of Bordeaux. The Gironde region was particularly badly hit with 20,000 hectares of forest destroyed, and the risk of renewed fires is a great concern. When it comes to wildfires risk, she said that prevention was crucial, as well as swift intervention when a fire first starts, which is easier to do from above. The interior ministry said measures for fighting forest fires across France will be presented in the coming weeks.

☆ 'Hotel Rwanda' figure Rusesabagina to be released from prison -government source
▼ + stars: | 2023-03-24 | by ( Philbert Girinema | ) www.reuters.com time to read: +2 min

Summary * 'Hotel Rwanda' figure to be released on Saturday* Rusesabagina to be flown to Doha, and on to the U.S.* His release follows letter to president seeking clemency* Rebel spokesman Sankara to also be releasedKIGALI, March 24 (Reuters) - Paul Rusesabagina, who was portrayed as a hero in the Hollywood film "Hotel Rwanda" and is serving a 25-year sentence in Rwanda on terrorism charges, will be released on Saturday, a Rwanda government source said on Friday. His release follows intense diplomacy by the United States, where Rusesabagina has permanent residency rights. Rusesabagina will initially be flown to Doha, and then on to the United States, the source said. "If I am granted a pardon and released, I understand fully that I will spend the remainder of my days in the United States in quiet reflection," he wrote. Earlier this month, Rwandan President Paul Kagame said there were discussions about "resolving" the fate of Rusesabagina.

☆ Israel's Netanyahu met by protests on London visit
▼ + stars: | 2023-03-24 | by ( Muvija M | ) www.reuters.com time to read: +2 min

[1/4] Demonstrators protest against Israeli Prime Minister Benjamin Netanyahu during his visit to Britain, in London, Britain March 24, 2023. Netanyahu shook hands with British Prime Minister Rishi Sunak on the steps of Downing Street while nearby protesters held up Israeli flags and shouted "Netanyahu go to jail, you can't speak for Israel". "We're here to protest against Netanyahu, to protest against his attacks on democracy," said Amnon Cohn, who described himself as an Israeli living in London since 2005. Outside Downing Street protesters, surrounded by British police and restricted by metal barricades, waved signs saying "You can't enjoy a weekend in London when you're bringing down a democracy!". "We are more determined than Bibi is," said Liron Rosiner Reshef, an Israeli-born protester in London using a popular nickname for Netanyahu.

☆ 'Hotel Rwanda' figure Rusesabagina to be freed from prison -Rwanda government
▼ + stars: | 2023-03-24 | by ( Philbert Girinema | ) www.reuters.com time to read: +4 min

The announcement of his release follows intense diplomacy by the United States, where Rusesabagina has permanent residency rights. "This is the result of a shared desire to reset US-Rwanda relationship," Stephanie Nyombayire, spokesperson of Rwanda's President Paul Kagame, wrote on Twitter. Rusesabagina was sentenced in Sept. 2021 over his ties to an organization opposed to Kagame's rule. "If any individual benefiting from early release repeats offences of a similar nature, the commutation can be revoked and the remainder of the prison sentence will be served," Rwanda's justice ministry said. In a handwritten letter to Kagame released by the justice ministry, Nsabimana said he had apologised to all Rwandans and especially those affected by attacks by FLN fighters.

[1/4] Demonstrators protest against Israeli Prime Minister Benjamin Netanyahu during his visit to Britain, in London, Britain March 24, 2023. Netanyahu invited Sunak for an official visit to Israel, the Israeli statement said. 'WE'RE HERE TO PROTEST'In London protesters wanted to talk about Netanyahu's move on the judiciary, which has caused fear at home and abroad for the country's democratic checks and balances. "We're here to protest against Netanyahu, to protest against his attacks on democracy," said Amnon Cohn, who described himself as an Israeli living in London since 2005. "We are more determined than Bibi is," said Liron Rosiner Reshef, an Israeli-born protester in London, using a popular nickname for Netanyahu.

"The bank run has abated for the moment, but that might be contingent on what the Fed signals today," said Adam Button, chief currency analyst at ForexLive in Toronto. "The risk is that the (Federal Open Market Committee) shatters the fragile calm in markets today... by acting too aggressively." The Fed meeting concludes on Wednesday with the 2 p.m. EDT (1800 GMT) release of a policy statement followed half an hour later by a news conference by Powell. Christopher Wong, currency strategist at OCBC, said the focus will be on how the Fed communicates its forward guidance, in particular "the higher for longer" rhetoric. The Japanese yen weakened 0.20% to 132.80 per dollar, while the Australian dollar rose 0.07% to $0.667.

☆ Morning Bid: Leaning back to Fed hike, UK inflation jolt
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +5 min

Two weeks of U.S. and European banking stress and failures leaves the Federal Reserve and other major central banks in the unenviable position of choosing between stabilising financial systems and fighting still historically high inflation. On top of that, the latest quarterly economic projections from Fed policymakers may reveal a big dispersion of views. Beyond the Fed, the dire UK inflation reading seems to have solidified expectations of another BoE rate rise on Thursday and a further move later in the year. If nothing else, it underlines in red ink just how all central banks are totally dependent now on incoming data evidence on what's happening in the real economy. With the U.S. dollar lower across the board ahead of the Fed meeting, sterling hit its highest level since early February.

☆ Iran proposes locations to Saudi Arabia for foreign minister meeting
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +2 min

[1/3] Iranian Foreign Minister Hossein Amirabdollahian speaks during a news conference in Tehran, Iran March 19, 2023. Majid Asgaripour/WANA (West Asia News Agency) via REUTERSDUBAI, March 19 (Reuters) - The Iranian government has proposed to Saudi Arabia three locations for a meeting at foreign minister level, Iran's foreign minister said on Sunday, citing the latest messages with Riyadh since the countries agreed to re-establish ties. Iranian Foreign Minister Hossein Amirabdollahian told a news conference in Tehran his country had agreed to such a meeting, although he did not list the three locations or say when such a meeting might take place. Iran and Saudi Arabia, the region's Shi'ite Muslim and Sunni powers, agreed on March 10 to re-establish relations and re-open embassies within two months after years of hostility. Amirabdollahian signalled Iran was also hoping for steps towards normalising ties with Bahrain, a close Saudi ally.

☆ Syria's Assad arrives in United Arab Emirates in official visit
▼ + stars: | 2023-03-19 | by ( ) www.reuters.com time to read: +3 min

[1/5] Syria's President Bashar al-Assad meets with President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan in Abu Dhabi, United Arab Emirates March 19, 2023. Hamad Al Kaabi/UAE Presidential Court/Handout via REUTERSDUBAI, March 19 (Reuters) - Syrian President Bashar al Assad arrived in the United Arab Emirates (UAE) on Sunday for an official visit, accompanied by his wife Asma al Assad, at a time when more Arab states have signalled openness to easing the isolation of Damascus. "We held constructive talks aimed at developing relations between our two countries," Sheikh Mohammed later said in a Twitter post. The Syrian presidency said Asma al Assad, on her first known official visit abroad with Assad since 2011, would meet with Sheikha Fatima bint Mubarak who is the Emirati president's mother and regarded in the UAE as the "Mother of the Nation". Saudi Arabia, Qatar and, to a lesser extent the UAE, once backed rebels against Assad.

☆ Iraq and Iran sign deal to tighten border security
▼ + stars: | 2023-03-19 | by ( Ahmed Rasheed | ) www.reuters.com time to read: +2 min

[1/3] Iraqi Prime Minister Mohammed Shia al-Sudani looks on as Iraq's National Security Adviser Qasim al-Araji and Iran's Supreme National Security Council secretary Ali Shamkhani sign the security agreement that includes coordination in protecting the common borders between the two countries, in Baghdad, Iraq, March 19, 2023. The joint security agreement includes coordination in "protecting the common borders between the two countries and consolidating cooperation in several security fields", a statement from the Iraqi prime minister's office said. Iran's Supreme National Security Council secretary Ali Shamkhani signed the deal with Iraq's National Security Advisor Qasim al-Araji, in the presence of Iraqi Prime Minister Mohammed al-Sudani, the prime minister office said. "Under the signed security deal, Iraq pledges it would not allow armed groups to use its territory in the Iraqi Kurdish region to launch any border-crossing attacks on neighbour Iran," said an Iraqi security official who attended the signing. Iran has also accused Kurdish militants of working with its arch-enemy Israel and has often voices concern over the alleged presence of the Israeli spy agency Mossad in the autonomous Iraqi Kurdish region.

☆ One man wounded in 'shooting incident' in West Bank flashpoint
▼ + stars: | 2023-03-19 | by ( Raneen Sawafta | ) www.reuters.com time to read: +2 min

[1/5] Israeli troops stand guard at the scene of a shooting, in Huwara, in the Israeli-occupied West Bank, March 19, 2023. REUTERS/Mohamad TorokmanHUWARA, West Bank, March 19 (Reuters) - A Palestinian gunman opened fire on Sunday on an Israeli couple in their car, wounding the man, in a West Bank town where a similar shooting last month prompted Israeli settlers to go on a violent rampage. Israeli officials said the wounded Israeli and soldiers at the scene returned fire, wounding the gunman, who was pursued by troops and captured. The incident occurred as Israeli and Palestinian officials held U.S.-backed talks in Egypt aimed at calming months of violence. The West Bank has seen a surge of confrontations, with near-daily military raids and escalating settler violence amid a spate of attacks by Palestinians.

☆ Saudi leads most Gulf bourses higher; Egypt down
▼ + stars: | 2023-03-19 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +2 min

March 19(Reuters) - Saudi Arabia's stock market closed higher on Sunday to outperform the Gulf region, amid expectations of a lower interest rate hike by the U.S. Federal Reserve in the aftermath of the collapse of two big regional banks. Most Gulf currencies are pegged to the U.S. dollar, while Saudi Arabia, the United Arab Emirates and Qatar usually mirror U.S. monetary policy changes. Saudi Arabia's benchmark index (.TASI) ended its five sessions losing streak, jumping 1.8%, the highest intraday rise since Dec 13. The index heavyweight Islamic banks Qatar Islamic Bank (QISB.QA) and Masraf Al Rayan (MARK.QA) rose 1.9% and 3.2% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30) dropped 0.2%, extending its looses into a sixth sessions.

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