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☆ Only around half of heavy weapons committed to Ukraine have been delivered, experts say: 'The gap between promised and delivered military aid is wide'
▼ + stars: | 2023-07-07 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine's allies have only sent it around half the heavy weapons promised, experts said. Ukraine's counteroffensive has moved slowly, and the country is requesting additional weaponry. "In general, only slightly more than half of the heavy weapons committed have been delivered. Christoph Trebesch, the head of the team creating the tracker, said "the gap between promised and delivered military aid is wide." Experts told Insider's Chris Panella last month that NATO allies' hesitation in giving it more weapons is likely hindering Ukraine's counteroffensive efforts.

Persons: —, Christoph Trebesch, Bradley IFVs, Valerii, Volodymyr Zelenskyy, Insider's Chris Panella Organizations: Service, Kiel Institute, Russian, Shadow, Russia, CNN, NATO Locations: Germany, Kiel, Ukraine, United States, Czech Republic, Slovenia, Poland, Slovakia, Russia

"It's all about containing those kinds of capabilities from the north," retired U.S. Major General Gordon B. Davis Jr. told Reuters. "With five submarines we can close the Baltic Sea," Linden told Reuters. The region from the Baltic in the south to the high north may become almost an integrated operating area for NATO. It was first shipped from Germany across the Baltic Sea, then trucked nearly 900 km to the north. "It would make it very difficult for the Russian Baltic Sea fleet to operate in a free way," he said.

Persons: Mika Hakkarainen, Finland –, Major General Gordon B, Davis Jr, Fredrik Linden, Sweden's, Linden, Samu Paukkunen, Paukkunen, Sebastian Bruns, Michael Maus, Kurt Rossi, Rossi, Tuomo Lamberg, Bruns, Nick Childs, Anne Kauranen, Johan Ahlander, Jacob Gronholt, Sabine Siebold, Sara Ledwith Organizations: NATO, Reuters, Fleet, Finnish Institute of International Affairs, Major, Analysts, Northern Fleet, Kiel University's Institute for Security, NATO's, Transformation, Field Artillery, U.S . Army, Baltic, Commission, Security, Cooperation, Naval Forces and Maritime Security, International Institute for Strategic Studies, Fouche, Pedersen, Thomson Locations: TORNIO, Finland, KARLSKRONA, Sweden, Norway, Russia, Stockholm, Ukraine, Moscow, Europe, RUSSIA, Russian, Murmansk, Kola, Barents, North America, Greenland, Iceland, Helsinki, Baltic, Nord, Russia's, Denmark, Kiel, Rovaniemi, Santa Claus, United States, Britain, Germany, –, St, Petersburg, Kaliningrad, Sweco, Swedish, Gotland, Karlskrona, Oeland, London, Birmingham, Tornio, Oslo, Copenhagen, Brussels

☆ The Pentagon made a $3 billion accounting blunder that could mean the US can send more arms to Ukraine, reports say
▼ + stars: | 2023-05-20 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +2 min

The Pentagon overvalued the cost of weapons sent to Ukraine by $3 billion, Reuters reported. Biden's administration could now send more weapons without having to get budget approval from Congress. The error was caused by the Pentagon using replacement costs to value the arms. The accounting error could enable the Department of Defense to send more weapons to Ukraine without the Biden administration needing to get budget approval from Congress, Reuters reported. Of this, just over 43 billion euros, or around $46.5 billion, was for military support.

☆ Former NATO commander warns the alliance must fully back Ukraine now or risk a direct war with Russia
▼ + stars: | 2023-05-18 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Sir Richard Shirreff said NATO could get pulled into the war if it didn't provide full support. He said that NATO was ill-prepared for the possibility of a direct war with Russia. This is a war not just against Ukraine; it's a war against the West," he said. Sir Richard Shirreff attends the Edinburgh International Book Festival on August 22, 2016 in Edinburgh, Scotland. And we're here again," said Sir Richard.

☆ China's 'Belt and Road' grew out of a lending spree. Now those loans may be its problem
▼ + stars: | 2023-04-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +8 min

Bloomberg | Getty ImagesAt its peak, China's Belt and Road Initiative was seen as the centerpiece of Beijing's engagement with the world. According to the report, China issued 128 emergency rescue loans worth $240 billion to 22 countries — including Pakistan, Sri Lanka and Turkey, among others. 'Trying to salvage Belt and Road'Chinese efforts to revamp Belt and Road have been underway since 2020, according to one observer. "A nod to the concern that many Belt and Road projects were not economically viable to begin with. "The increased indebtedness in many Belt and Road countries is a direct consequence of Beijing's overshooting in the pre-2020 phase," said Zhong.

The so-called Joint Economic Forecasts, to be presented in Berlin on Wednesday, expect a 0.1% expansion in gross domestic product in the first quarter. The five economic institutes which prepare the Joint Economic Forecasts predict GDP growth in Germany of 0.3% in 2023, up from a predicted contraction of 0.4% in the autumn, two sources familiar with the data told Reuters. The economics ministry will update its forecasts incorporating the results of the Joint Economic Forecasts this spring. The economic institutes predict inflation of 6.0% in 2023, before slowing to 2.4% in 2024. The Joint Economic Forecasts are prepared by the Ifo Institute, the Halle Institute for Economic Research, the Kiel Institute for the World Economy, the RWI – Leibniz Institute for Economic Research and the Austrian Institute of Economic Research.

WASHINGTON, March 29 (Reuters) - The United States is working hard to counter China's influence in international institutions and in lending to developing countries, U.S. Treasury Secretary Janet Yellen said on Wednesday. Yellen said she was concerned by some of China's activities globally, particularly in lending to developing countries. China has lent hundreds of billions of dollars to build infrastructure in developing countries, but lending has tailed off since 2016 as many projects have failed to pay the expected financial dividends. China is negotiating debt restructurings with countries including Zambia, Ghana and Sri Lanka and has been criticised for holding up the processes. In response, it has called on the World Bank and International Monetary Fund to also offer debt relief.

☆ Belt and Road Initiative: China spending billions to bail out megaproject's debtors
▼ + stars: | 2023-03-28 | by ( Jessie Yeung | ) edition.cnn.com time to read: +6 min

For one, China’s loans are far more secretive, with most of its operations and transactions concealed from public view. The PBOC requires an interest rate of 5%, compared to 2% for IMF rescue loans, the study said. There is also public concern in some countries over issues like excess debt and China’s influence. Accusations that Belt and Road is a broad “debt trap” designed to take control of local infrastructure, while largely dismissed by economists, have sullied the initiative’s reputation. In January, Chinese Foreign Minister Qin Gang rejected the accusations of China creating a “debt trap” in Africa, a major recipient of Belt and Road investments.

REUTERS/Thomas Suen/File PhotoJOHANNESBURG, March 28 (Reuters) - China spent $240 billion bailing out 22 developing countries between 2008 and 2021, with the amount soaring in recent years as more have struggled to repay loans spent building "Belt & Road" infrastructure, according to a study published Tuesday. People's Bank of China (PBOC) swap lines accounted for $170 billion of the rescue financing, including in Suriname, Sri Lanka and Egypt. China's rescue lending is "opaque and uncoordinated," said Brad Parks, one of the report's authors, and director of AidData, a research lab at William & Mary College in the United States. China is negotiating debt restructurings with countries including Zambia, Ghana and Sri Lanka and has been criticised for holding up the processes. In response, it has called on the World Bank and International Monetary Fund to also offer debt relief.

☆ Fears of European industry exodus to U.S. may be overdone
▼ + stars: | 2023-03-03 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

However, the risks are offset not only by the substantial existing European incentives, but also other factors - such as proximity to European consumers - that many companies cite as critical in their decisions. Think tank Bruegel says EU support is already on a par with, or even larger than, IRA money. Moreover, well over half of the IRA support is for renewable energy production, with local content requirements playing a very limited role. Some executives say rather than providing more subsidies, Europe needs to simply improve the way they are given. The United States is not a panacea for European firms, not least due to questions about what approach the next U.S. administration might take.

☆ War in Ukraine by the numbers: Mass deaths, billions in aid, thousands of destroyed tanks, and more stats that paint an image of Russia's unprovoked invasion
▼ + stars: | 2023-02-26 | by ( Kelsey Vlamis | Erin Snodgrass | Charles R. Davis | ) www.businessinsider.com time to read: +4 min

February 24, 2023, marked the one-year anniversary of Russia's invasion of Ukraine. Billions of dollars of aid has been sent, and Russia has lost about half its fleet of tanks. When his troops invaded on February 24, 2022, Russian President Vladimir Putin expected to quickly sweep through the country and capture Kyiv. Still, the cost of the war — in lives, dollars, and military equipment — has been high. AP Photo/Daniel ColeThe dead and woundedUkrainian refugees are seen after crossing into Poland on March 13, 2022.

☆ A year into the war, Ukraine and the West prepare for the biggest reconstruction since World War II
▼ + stars: | 2023-02-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

People help to clean up debris at a bus station damaged after a shelling, amid Russia's attack on Ukraine, in Kherson, Ukraine February 21, 2023. Lisi Niesner | ReutersOne year since the start of Russia's full-scale invasion, Ukraine's economy and infrastructure are in tatters, with the government and its allies planning the largest rebuilding effort since World War II. The International Monetary Fund estimates that the Ukrainian economy contracted by 30%, a less severe decline than previously projected. IMF Managing Director Kristalina Georgieva visited Ukraine this week, meeting with President Volodymyr Zelenskyy and NBU Governor Andriy Pyshnyy, among others. It is difficult to predict the size of this debt reduction as it depends on the state of the Ukrainian economy at the time the restructuring is agreed," Nasser said.

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

☆ A year after Russia’s invasion: How Ukraine endured
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +21 min

REUTERS/Valentyn OgirenkoIn the early hours of Feb. 24, 2022, tens of thousands of Russian soldiers entered Ukraine. By seizing the city of three million people, and capturing or killing Zelenskiy, Russia’s hope appeared to be that Ukraine would quickly surrender. By March 23, Russia’s advance had captured regions of Ukraine along the Belarus border but Ukraine’s forces had begun reclaiming territory near Kyiv. Satellite imagery of Russia’s military convoy near Invankiv, Ukraine, Feb. 28, 2022. The two sit on a bed, with a radio and teddy bears nearby., image Ukrainian civilians have endured The will of the people of Ukraine continues to be that they remain free.

☆ U.S. remains biggest destination for German exports for eighth year in a row
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 1 (Reuters) - The United States remained the most important destination for German exports in 2022 for the eighth consecutive year. Exports of goods reached a record 156 billion euros ($169.31 billion) last year, according to Reuters calculations based on preliminary data from the German statistics office. German exports to the United States in 2022 were well above the previous record of 122 billion euros in 2021. German companies mainly supplied machinery, motor vehicles and automotive parts to the United States. Both the IfW and the DIHK assume that the United States will remain the most important customer for German goods for the foreseeable future.

☆ Kremlin: Putin open 'to contacts' with Germany's Scholz, RIA reports
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +2 min

Jan 29 (Reuters) - Russian President Vladimir Putin is open to contacts with German Chancellor Olaf Scholz though has no phone call scheduled with him, a Kremlin spokesman told the state RIA Novosti news agency on Sunday. The announcement, followed shortly afterwards by a U.S. pledge of M1 Abrams tanks to Kyiv, infuriated the Kremlin. "For now, there are no agreed talks (with Scholz) in the schedule. Putin has been and remains open to contacts," Kremlin spokesman Dmitry Peskov was quoted as saying by RIA Novosti. Putin and Scholz last spoke by phone in early December.

Still, many Germans feel Scholz is not doing a very good job of explaining his thinking. Scholz has so far neither said he would give the green light nor if he would send tanks from Germany. A main reason given is that Russia could see the deliveries of tanks as tantamount to Germany becoming a party to conflict. The Kremlin would be less inclined to retaliate if another nuclear power such as the United States also sent tanks. Already, Russia's invasion of Ukraine has forced Germany to overcome taboos such as exporting arms to war zones.

☆ Opinion | Vaccines, Inflation, Abortion: 2022 in Charts
▼ + stars: | 2022-12-30 | by ( Steven Rattner | ) www.nytimes.com time to read: +16 min

By the end of 2022, 23 percent of American women resided in states with effective bans on abortion. June 2022 March 2022 Dec. 2021 Sept. 2022 Dec. 2022 Fed Funds Rate 6% 5 4 3 2 1 2022 2023 2025 2024 Longer run Unemployment 5% 4 3 2 1 2022 2023 2025 2024 Longer run G.D.P. Growth 4% 3 2 1 2022 2023 2025 2024 Longer run Core Inflation 5% 4 3 2 1 2022 2023 2025 2024 Sept. 2022 June 2022 March 2022 Dec. 2021 Dec. 2022 Fed Funds Rate G.D.P. Growth 4% 6% 5 3 4 3 2 2 1 1 2022 2023 2025 2022 2023 2025 2024 2024 Longer run Longer run Core Inflation Unemployment 5% 5% 4 4 3 3 2 2 1 1 2022 2023 2025 2022 2023 2025 2024 2024 Longer run Source: Federal Open Market CommitteeThe sustained period of high inflation left the Fed playing catch-up, as it had initially believed that the surge would prove transitory. 150 100 Xi Jinping addresses in 2017 & 2022 50 1982-2012 Economy Military Market Technology Reform Security Source: Capital EconomicsThen there was China: Our biggest source of imported goods became ever more clearly our biggest strategic adversary.

☆ Germany's half-a-trillion dollar energy bazooka may not be enough
▼ + stars: | 2022-12-15 | by ( Christoph Steitz | ) www.reuters.com time to read: +8 min

Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago. The money set aside stands at up to 440 billion euros ($465 billion), according to the calculations, which provide the first combined tally of all of Germany's drives aimed at avoiding running out of power and securing new sources of energy. That equates to about 1.5 billion euros a day since Russia invaded Ukraine on Feb. 24. Energy rationing is a risk in the event of a long cold spell this winter, Germany's first in half a century without Russian gas. There's no security in sight either, with the push to build up of two alternatives to Russian fuel - liquefied natural gas (LNG) and renewables - years away from targeted levels.

Allies have been supplying Kyiv with weapons and military equipment since Russia invaded its neighbour on Feb. 24, depleting their own inventories along the way. HISTORIC INDUSTRYEastern Europe's arms industry dates back to the 19th Century, when Czech Emil Skoda began manufacturing weapons for the Austro-Hungarian Empire. They said Ukraine had acquired weapons and equipment via donations from governments and direct commercial contracts between Kyiv and the manufacturers. "At the same time it's an opportunity for them to build up their military production industry." Czech arms exports this year will be the highest since 1989, he said, with many companies in the sector adding jobs and capacity.

☆ Explainer: Blood, treasure and chaos: the cost of Russia's war in Ukraine
▼ + stars: | 2022-11-10 | by ( Guy Faulconbridge | ) www.reuters.com time to read: +6 min

Following are the main impacts of the war, now in its ninth month:* DEATHThe war has sown death on a level not seen in Europe since World War Two. Besides the military costs, the West has tried to punish Moscow by imposing severe sanctions - the biggest shock to Russia's economy since the 1991 collapse of the Soviet Union. Still the impact on Russia's economy is severe - and not yet fully clear. Shortly after Russia's invasion of Ukraine, international oil prices spiked to their highest levels since the records of 2008. In total, about 52 billion euros in military, financial and humanitarian aid had been pledged by Oct. 3 to Ukraine by countries around the world, according to The Kiel Institute for the World Economy.

The visit — the first by a G7 leader to China in roughly three years — comes as Germany slides towards recession. A spokesperson for Hamburger Hafen und Logistik (HHLA), the company operating the port terminal, told CNN Business on Thursday that it was still negotiating the deal with Cosco. “The restrictions are suffocating economic growth and heavily impact China’s attractiveness as a destination for foreign direct investment,” he told CNN Business. The ministry did not respond to a request for comment from CNN Business. He predicted that “the large majority will stay committed to the Chinese market and is expecting to expand their business.”Companies appear to be toeing that line.

☆ Biden snapped at Zelenskyy in a June phone call when he asked for more aid, report says, in a fleeting moment of conflict between the two leaders
▼ + stars: | 2022-10-31 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Biden and Zelenskyy had a tense phone conversation in June, NBC News reported. The leaders were discussing a US military aid package when Zelenskyy suggested he needed more help. The two leaders had the tense phone conversation on June 15, almost four months after Russia first launched its invasion of Ukraine. A source familiar with the conversation told NBC that the exchange wasn't heated or angry, but Biden was direct with Zelenskyy. Administration officials told NBC that the two leaders' relationship has only improved since the call.

☆ German economic institutes see 2023 contraction as gas crisis hits
▼ + stars: | 2022-09-29 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Sept 29 (Reuters) - Four leading German economic institutes have almost halved their spring economic growth forecast for Europe's largest economy this year and slashed their 2023 projection to -0.4% from 3.1%, they said on Thursday. The four institutes now expect 1.4% growth this year, down from 2.7% seen in the spring. "The crisis on the gas markets is having a severe impact on the German economy," said the four institutes - Munich-based Ifo, the Kiel Institute for the World Economy (IfW Kiel), the Halle Institute for Economic Research (IWH) and the Leibniz Institute for Economic Research (RWI). "Soaring gas prices are drastically increasing energy costs, leading to a massive reduction of the purchasing power," they added in a statement. Register now for FREE unlimited access to Reuters.com RegisterReporting by Klaus Lauer and Paul Carrel, Editing by Miranda MurrayOur Standards: The Thomson Reuters Trust Principles.

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