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☆ US sanctions authority delayed KFC's Russia exit -franchise owner
▼ + stars: | 2023-09-25 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +3 min

It's OFAC office issued compliance guidance to the industry regarding the exit tax in the form of FAQs, or frequently asked questions, on Feb. 24, 2023, while negotiations on KFC's exit deal were still ongoing. The deal included all its Russian KFC restaurants, operating system and the trademark for the Rostic's brand. Once the buyers were approved, taking this new requirement into account, another one appeared - the budget contribution termed an "exit tax" by Washington - Levin said. "The closure was delayed again, the correct procedure on paying the exit tax was agreed," Levin said. Former KFC restaurants began opening in April as Rostic's, reviving a brand born soon after the collapse of the Soviet Union.

Persons: Maxim, Sergei Levin, Levin, McDonald's, It's, Konstantin Kotov, Andrey Oskolkov, Elena Fabrichnaya, Alexander Marrow, Matt Scuffham, Timothy Gardner Organizations: Brands Inc, KFC, REUTERS, U.S . Office, Foreign Assets Control, Brands, Treasury, Smart Service, Russian KFC, Washington, Soviet Union, Rostic's, Thomson Locations: Russia, Moscow, Ukraine MOSCOW, U.S, Unirest, KFC's U.S, Ukraine, Russian, Soviet

☆ Russian rouble firms against euro, steady vs dollar
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +1 min

At 1452 GMT, the rouble was steady against the dollar at 96.24 and had gained 0.6% to trade at 101.98 versus the euro . The move should lead to extra government revenues - as much as 600 billion roubles ($6.23 billion) per year, according to seven Reuters sources - and could also buttress the rouble. The government said the duty would not apply if the rouble strengthened beyond 80 to the dollar. Otherwise it would range from 4% to 7%, reaching its maximum if the rouble was weaker than 95 per dollar. Russian stock indexes were lower, with the dollar-denominated RTS index (.IRTS) down 0.5% to 995 points and the rouble-based MOEX Russian index (.IMOEX) down 0.4% at 3,036.

Persons: Maxim Shemetov, Russia's, Mark Trevelyan, Gareth Jones Organizations: REUTERS, European Central Bank, Federal Reserve, Thomson Locations: Russian, Moscow

☆ Russia's gasoline prices on exchange down almost 10% after export ban
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsMOSCOW, Sept 22 (Reuters) - Russian wholesale gasoline Ai-92 grade prices fell by 9.7% to 55,892 roubles ($582) per metric ton on Friday, according to exchange data, following a government ban on fuel exports. Diesel prices were down 7.5% to 66,511 roubles per ton, according to the data from the St. Petersburg International Mercantile Exchange (SPIMEX). Wholesale fuel prices in Russia had been steadily rising this year amid fuel shortages, reaching all-time highs. In response, Russia on Thursday temporarily banned exports of gasoline and diesel to all countries apart from four ex-Soviet states. A Kremlin spokesman told reporters that the export ban would last for as long as necessary to ensure market stability.

Persons: Maxim, Dmitry Peskov, Pavel Sorokin, J.P, Morgan, Vladimir Soldatkin, Jason Neely, Miral Organizations: REUTERS, Rights, St . Petersburg International Mercantile Exchange, TASS, Kremlin, Energy, Citi, Reuters, Thomson Locations: Moscow, Russia, St, Baltic, Primorsk, Novorossiysk

☆ Russia imposes temporary restrictions on fuel exports
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

"Temporary restrictions will help saturate the fuel market, which in turn will reduce prices for consumers," the government said in a statement. Government officials have said that the plans are intended to restrict fuel exports only to those who make the oil products, in order to avert a large-scale fuel crisis; a prohibitive duty on fuel exports has been considered. Wholesale fuel prices have spiked, although retail prices are capped to try to curb them in line with official inflation. Traders say the fuel market has been hit by factors including maintenance at oil refineries, bottlenecks on railways and the weakness of the rouble, which incentivises fuel exports. Russia exported 4.817 million tons of gasoline and almost 35 million tons of diesel last year.

Persons: Maxim, Vladimir Soldatkin, Mark Trevelyan Organizations: REUTERS, Rights, Kremlin, Traders, Thomson Locations: Moscow, Russia, breadbasket

☆ Russia scrambled fighter to intercept U.S. patrol plane over Barents Sea
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: 1 min

A Russian MiG-31 fighter jet equipped with a Kinzhal hypersonic missile flies over Red Square during a rehearsal for a flypast, part of a military parade marking the anniversary of the victory over Nazi Germany in World War Two, in central Moscow, Russia May 7, 2022. REUTERS/Maxim Shemetov/File Photo Acquire Licensing Rights

Persons: Maxim Organizations: Nazi, REUTERS Locations: Russian, Nazi Germany, Moscow, Russia

☆ Recent arrests suggest Putin is quietly trying to rein in some of his most effective promoters of the war in Ukraine
▼ + stars: | 2023-09-15 | by ( Michael Peck | ) www.businessinsider.com time to read: +6 min

The Putin regime has leaned heavily on propaganda to rally support for its war in Ukraine. In doing so, it has come to rely on military bloggers to spread its message and back its efforts. Milbloggers also have become an indispensable tool for Western governments, think tanks, and media to track the Russian war effort. But the relationship between Putin and milbloggers illustrates the complexities of social media in an authoritarian state. Many milbloggers are ultra-nationalists with deep ties to the Russian military and intelligence agencies.

Persons: Putin, Vladimir Putin's, —, Donald Jensen, Angel Howard, Milblogs, aren't, Milbloggers, DOMINIQUE FAGET, It's, Ramzan Kadyrov, milbloggers, Jensen, Howard, Igor Girkin, Girkin, Andrey Kurshin, Maxim Shemetov, Russia's, Michael Peck Organizations: Service, Kyiv Independent, Getty, REUTERS, Putin's, Kremlin, Defense, Foreign Policy, Twitter, LinkedIn Locations: Ukraine, Wall, Silicon, Kyiv, Russian, Makiivka, Donetsk, AFP, British, Ukrainian, Mariupol, Moscow, Russia, Forbes

National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. On Friday, it gave hawkish guidance that it would consider further rate increases at upcoming meetings and said inflationary risks remained significant. The central bank adjusted its year-end forecast for inflation to 6.0-7.0% from 5.0-6.5%. "Russia's central bank is a hawkish institution that takes its commitment to inflation fighting seriously," said Senior Emerging Markets Economist Liam Peach. Central Bank Governor Elvira Nabiullina will shed more light on the bank's forecasts and policy in a media briefing at 1200 GMT.

Persons: Maxim Shemetov, jacking, Liam Peach, Central Bank Governor Elvira Nabiullina, Alexander Marrow, Elena Fabrichnaya, Darya Korsunskaya, Maria Kiselyova, Amruta Khandekar, Andrew Osborn, William Maclean, Catherine Evans Organizations: Russian Central Bank, REUTERS, Kremlin, Capital Economics, Central Bank Governor, Thomson Locations: Moscow, Russia, Russian, Ukraine MOSCOW, Ukraine, London

☆ Soyuz spacecraft with US astronaut, two Russian cosmonauts docks at ISS
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

[1/6] The Soyuz MS-24 spacecraft carrying the crew formed of NASA astronaut Loral O'Hara, Roscosmos cosmonauts Oleg Kononenko and Nikolai Chub blasts off to the International Space Station (ISS) from the launchpad at the Baikonur Cosmodrome, Kazakhstan September 15, 2023. REUTERS/Maxim Shemetov Acquire Licensing RightsSept 15 (Reuters) - A Russian spacecraft blasted off from Kazakhstan's Baikonur cosmodrome on Friday carrying two Russian cosmonauts and a U.S. astronaut to join the crew of the International Space Station (ISS), live TV images showed. At 1853 GMT the Soyuz MS-24 spacecraft with American Loral O'Hara and Russians Oleg Kononenko and Nikolai Chub on board docked at the ISS, Russia's Roscosmos space agency said. They will join the current crew of NASA astronauts Jasmin Moghbeli and Frank Rubio, Russian cosmonauts Dmitry Petelin, Konstantin Borisov and Sergei Prokopyev, as well as Denmark's Andreas Mogensen and Japan's Satoshi Furukawa. The ISS is one of the few international projects on which the United States and Russia still cooperate closely.

Persons: Loral O'Hara, Oleg Kononenko, Maxim Shemetov, Nikolai, Jasmin Moghbeli, Frank Rubio, Dmitry Petelin, Konstantin Borisov, Sergei Prokopyev, Andreas Mogensen, Satoshi Furukawa, Luna, William Maclean, Mark Porter Organizations: NASA, International Space, Baikonur, REUTERS, Kazakhstan's Baikonur, Soyuz, Washington, Reuters, Thomson Locations: Kazakhstan, Russian, Kazakhstan's, U.S, United States, Russia, Ukraine, Moscow

☆ China agrees to rare visit by Vatican envoy for Ukraine talks
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsBEIJING, Sept 13 (Reuters) - The Chinese foreign ministry said on Wednesday that Vatican envoy Cardinal Matteo Zuppi will visit China for talks on resolving the conflict in Ukraine, despite the lack of formal bilateral relations between Beijing and the Holy See. Li Hui, China's Special Envoy for Eurasian Affairs, will meet with Zuppi, foreign ministry spokesperson Mao Ning told a regular news conference. "On the issue of Ukraine, China has always been committed to promoting peace talks," said Mao. Zuppi will be in China from Wednesday to Friday as part of a diplomatic push to facilitate peace in Ukraine, the Vatican said on Tuesday. The Chinese foreign ministry did not give details on Zuppi's schedule or say whether he would meet China's top officials.

Persons: Cardinal Matteo Zuppi, Pope Francis, Maxim, Li Hui, Mao Ning, Mao, Li Qiang, Archbishop Paul Gallagher, Wang Yi, Ryan Woo, Ethan Wang, Christian Schmollinger, Mark Heinrich Our Organizations: Italian Episcopal Conference, REUTERS, Rights, Eurasian Affairs, Kyiv, Vatican, Repubblica, Foreign, Thomson Locations: Moscow, Russia, Rights BEIJING, China, Ukraine, Beijing, Russian, Italian, Washington, Taiwan, Europe, Taipei, Munich

☆ Russia's VTB to make record profit in 2023 but dividends unlikely, CEO tells RBC
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

The logo of VTB bank is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. REUTERS/Maxim Shemetov/File Photo Acquire Licensing RightsMOSCOW, Sept 11 (Reuters) - Russia's state-owned VTB bank (VTBR.MM) will make a record profit this year, even though dividends are unlikely, the lender's CEO Andrei Kostin told Russian newspaper RBC in an interview published on Monday. RBC quoted Kostin as saying: "Our profit forecasts this year are good, the year is going well. Our target for net profit is 400 billion roubles ($4.13 billion), but I think we will eventually exceed this level and earn record profits." On the urgent recommendation of the central bank, we have suspended ... dividends," the newspaper quotes Kostin as saying.

Persons: Maxim, Andrei Kostin, Kostin, VTB, Elena Fabrichnaya, Felix Light, Christina Fincher Organizations: St ., Economic, REUTERS, Rights, Russian, RBC, United Shipbuilding Corporation, Kremlin, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine, India

☆ Goldman Sachs lawyer says suit by Russia's Otkritie Bank should be heard in London
▼ + stars: | 2023-09-07 | by ( ) www.reuters.com time to read: +2 min

The logo of Russian bank Otkritie is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 15, 2022. Otkritie says Goldman owes the money in connection with a derivatives agreement and wants the claim to be handled in the Moscow Arbitration Court. Otkritie, owned by state bank VTB (VTBR.MM), says in a filing with the court that Goldman Sachs cited sanctions introduced against Moscow by the United States and Britain over Ukraine in failing to settle the debt. A lawyer for Goldman asked on Thursday for the lawsuit to be dismissed on the grounds the Moscow court had no jurisdiction. Otkritie's lawyer said the Moscow court should have sole jurisdiction and that sanctions essentially prevented Otkritie from accessing justice services in the UK.

Persons: Maxim, Goldman Sachs, Otkritie, Goldman, Detsky Mir, Elena Fabrichnaya, Mark Trevelyan, David Evans Organizations: St ., Economic, REUTERS, Russia's, Court, Moscow, Reuters, London Court, International, Thomson Locations: St, St . Petersburg, Saint Petersburg, Russia, Ukraine MOSCOW, Moscow, London, United States, Britain, Ukraine

☆ Russia says it won't let foreign banks leave easily
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +1 min

Russian Deputy Finance Minister Alexei Moiseev attends a session of the annual international military-technical forum "ARMY" at Patriot Expocentre in Moscow Region, Russia August 22, 2018. REUTERS/Maxim Shemetov/File photo Acquire Licensing RightsMOSCOW, Sept 1 (Reuters) - Russian Deputy Finance Minister Alexei Moiseev said on Friday that the government would not allow foreign banks to leave Russia easily. "We have stated our position and it stands - we will be tough in letting foreign banks go, it will depend on the decision to unfreeze Russian assets," Moiseev said, speaking at a forum. Responding to questions about applications to sell assets, Moiseev said Austria's Raiffeisen Bank (RBIV.VI) had not made such a request. "I am aware of one foreign bank's application to sell assets ... which is under consideration by the government commission," he said.

Persons: Alexei Moiseev, Maxim, Moiseev, Austria's, Elena Fabrichnaya, Felix Light, Bobrova, Hugh Lawson, Kevin Liffey Organizations: REUTERS, Rights, Austria's Raiffeisen Bank, Thomson Locations: Moscow Region, Russia, Ukraine, Western, Russian

☆ Russian central bank head Nabiullina does not rule out rate hike
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: 1 min

National flag flies over the Russian Central Bank headquarters in Moscow, Russia May 27, 2022. REUTERS/Maxim Shemetov//File Photo Acquire Licensing RightsSept 1 (Reuters) - Russian central bank head Elvira Naibullina said on Friday that she did not rule out a hike in interest rates, and that she continued to see pro-inflationary factors. The bank raised its key rate by 3.5 percentage points to 12% at an emergency meeting on Aug. 15 amid rising inflation and a sharp fall in the value of the rouble. Writing by Felix Light; Editing by Kevin LiffeyOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim Shemetov, Elvira Naibullina, Felix Light, Kevin Liffey Organizations: Russian Central Bank, REUTERS, Thomson Locations: Moscow, Russia, Russian

☆ Jailed US citizen Paul Whelan seen in rare video at Russian penal colony
▼ + stars: | 2023-08-28 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +2 min

Former U.S. Marine Paul Whelan, who was detained and accused of espionage, stands inside a defendants' cage during his verdict hearing in Moscow, Russia June 15, 2020. Arrested in 2018 in Russia, Whelan was convicted of spying charges in 2020 and sentenced to 16 years in a penal colony in Mordovia, a Russian region notorious since Soviet times for its penal colonies. "Today was the first time I've seen what he really looks like since June 2020," his brother David Whelan said in an email. He said the Russia Today had showed up in the prison in May to film Whelan and when he declined to participate, the prison staff retaliated against him. In the video, Whelan tells the questioner that he will not answer his questions.

Persons: U.S . Marine Paul Whelan, Maxim, Paul Whelan, Whelan, Biden, David Whelan, Trevor Reed, Konstantin Yaroshenko, Washington, Brittney, Viktor Bout, Antony Blinken, Evan Gershkovich, Humeyra Pamuk, Josie Kao Organizations: U.S . Marine, REUTERS, Rights, Kremlin, Russia, Wall Street, Thomson Locations: Moscow, Russia, United States, Mordovia, Russian, American, Ukraine, U.S, Yekaterinburg, Gershkovich

☆ US accuses Russia of intimidation after ex-consulate worker charged with spying
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

A woman uses her mobile phone in front of the Federal Security Service (FSB) building on Lubyanka Square in Moscow, Russia, June 24, 2023. The FSB said it planned to question U.S. embassy employees who were in contact with Shonov, who has been under arrest since May. "We strongly protest the Russian security services' attempts - furthered by Russia's state-controlled media - to intimidate and harass our employees," said Miller. The Russian embassy in Washington did not immediately respond to a request for comment. Reporting by Reuters; additional reporting by Simon Lewis in Washington; editing Mark Heinrich and Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim Shemetov, Moscow, Robert Shonov, Shonov, Matthew Miller, Washington, Miller, Simon Lewis, Mark Heinrich, Rosalba O'Brien Organizations: Federal Security Service, REUTERS, Washington, U.S . Consulate, State, U.S, Reuters, Thomson Locations: Moscow, Russia, United States, U.S, Ukraine, Russian, Vladivostok, Washington

☆ 'This is my world': Russia's top Barbie fan sees herself in movie
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

MOSCOW, Aug 25 (Reuters) - As the proud owner of 12,000 Barbie dolls, Russian collector Tatiana Tuzova was more excited than most to watch the Hollywood movie based on her idol. "I want everything in the real world to be as bright, beautiful and glamorous (as Barbie Land). But when you're out in the real world, there are so many things missing." She said she liked the fact that the Barbie heroine of the film remained true to herself even when she crossed into the real world. She just adapted, let's say, to the real world - as, in general, I did."

Persons: Barbie, Tatiana Tuzova, Maxim Shemetov, Margot Robbie, Tuzova, didn't, Mark Trevelyan, Angus MacSwan Organizations: REUTERS, Reuters, Army, Air Force, Thomson Locations: Krasnogorsk, Moscow, Russia, Ukraine, MOSCOW

☆ Russian central bank hikes rates by 350 bp to 12% in extraordinary meeting
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: "Bank of Russia". President Vladimir Putin's economic adviser Maxim Oreshkin on Monday rebuked the central bank blaming what he called its soft monetary policy on the weakening rouble. Hours after Oreshkin's words, as the rouble dived towards the 102 mark against the dollar, the bank announced the emergency meeting, throwing the currency a lifeline. The bank then steadily lowered the cost of borrowing to 7.5% as strong inflation pressure eased in the second half of 2022.

Persons: Maxim, Rouble, Vladimir Putin's, Maxim Oreshkin, Alexander Marrow, Guy Faulconbridge Organizations: Central Bank, Bank of, of Russia, Kremlin, Russia, Reuters, Thomson Locations: Russian, Moscow, Russia, Bank of Russia, Ukraine MOSCOW, Ukraine

☆ China's Geely unveils auto robotics brand JI YUE
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Maxim Shemetov/File PhotoBEIJING, Aug 14 (Reuters) - Chinese automaker Geely Holding Group (0175.HK) on Monday unveiled a premium intelligent technology brand JI YUE, which stems from Geely's cooperation with Baidu Inc (9888.HK) on "automotive robotics", and introduced its first model. JI YUE 01, the flagship model under the new brand will be produced by Geely and is expected to debut in the last quarter of this year, the company said. Baidu will provide its know-how in smart cockpits, autonomous driving and artificial intelligence technologies, which will be applied in JI YUE cars, Geely added. Also on Monday, China's industry ministry website showed three electric vehicles under the JI YUE brand were seeking regulatory approvals. Geely had co-funded an electric vehicle venture Jidu with Baidu.

Persons: Maxim, YUE, Geely, Zhang Yan, Ella Cao, Meg Shen, Tomasz Janowski Organizations: REUTERS, Geely Holding, HK, Baidu Inc, Baidu, JI, Thomson Locations: Moscow, Russia, BEIJING, China, Beijing, Hong Kong

☆ Russia to equip new nuclear submarines with hypersonic missiles
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Maxim Shemetov/File... Read moreAug 14 (Reuters) - Russia is in the process of equipping its new nuclear submarines with hypersonic Zircon missiles, the head of Russia's largest shipbuilder told the RIA state news agency in an interview published on Monday. "Multi-purpose nuclear submarines of the Yasen-M project will ... be equipped with the Zircon missile system on a regular basis," , Alexei Rakhmanov, chief executive officer of the United Shipbuilding Corporation (USC), told RIA. Yasen-class submarines, also known as Project 885M, are nuclear-powered cruise missile submarines, built to replace Soviet-era nuclear attack submarines as part of a programme to modernise the army and fleet. President Vladimir Putin said earlier this year that Russia would start mass supplies of Zircon missiles as part of the country's efforts to boost its nuclear forces. The Russian multi-purposes frigate Admiral Gorshkov, which has tested its strike capabilities in the western Atlantic Ocean earlier this year, has been already equipped with Zircon missiles.

Persons: Alexei Rakhmanov, Maxim, Read, Vladimir Putin, Gorshkov, Lidia Kelly, Simon Cameron, Moore Organizations: United Shipbuilding Corporation, REUTERS, USC, Zircon, Thomson Locations: Lomonosov, Chukotka, Murmansk, Russia, Russian, Melbourne

Arkady Volozh, Co-Founder and Chief Executive Officer of Yandex Group of Companies, attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia June 7, 2019. REUTERS/Maxim Shemetov/File PhotoAug 10 (Reuters) - The co-founder of Russian internet giant Yandex (YNDX.O), Arkady Volozh, on Thursday condemned what he described as Russia's "barbaric" invasion of Ukraine, days after criticism in Russia over his apparent efforts to distance himself from the country. "Russia's invasion of Ukraine is barbaric, and I am categorically against it," Volozh said in a statement. Volozh developed Yandex in Russia, creating the country's largest tech company and ultimately taking it public on the U.S. Nasdaq stock exchange in 2011. Since Russia invaded Ukraine in February 2022, Yandex has sought to balance domestic pressure on one side with its Western investors on the other.

Persons: Arkady Volozh, Maxim, Volozh, –, Yandex, Alexander Marrow, Jason Neely Organizations: Yandex, of Companies, St ., Economic, REUTERS, U.S, Nasdaq, European Union, Thomson Locations: St, St . Petersburg, Russia, Ukraine, Kazakhstan, Ukraine –, Israel, Yandex

A view shows Russian rouble coins in this illustration picture taken March 25, 2021. REUTERS/Maxim Shemetov/IllustrationAug 9 (Reuters) - The rouble hit a more than 16-month low on Wednesday, hampered by strong foreign currency demand and limited supply, with Russia's shrinking trade surplus and widening budget deficit also hurting sentiment. By 1023 GMT, the rouble was 0.2% weaker against the dollar at 97.32 , earlier hitting 97.48, its weakest point since March 25, 2022. It has been under pressure all year from Russia's shrinking balance of trade, as export revenues fall and imports rebound, dropping around 28% year-to-date from levels near 70 to the dollar. Brent crude oil , a global benchmark for Russia's main export, was 0.7% higher at $86.80 a barrel.

Persons: Maxim Shemetov, Egor Zhilnikov, Alexey Antonov, Antonov, Alexander Marrow, Andrew Heavens, Sharon Singleton Organizations: REUTERS, Alor Broker, Brent, Thomson Locations: Alor

☆ Russia to widen scope of digital rouble testing from Aug. 15 -central bank
▼ + stars: | 2023-08-09 | by ( Elena Fabrichnaya | ) www.reuters.com time to read: +2 min

Russia, like many countries, has been developing a central bank digital currency (CBDC) - digital tokens issued by central banks - over the last couple of years in a bid to modernise its financial system and head off cryptocurrencies such as bitcoin. "We expect to test operations with real customers," the central bank's First Deputy Governor Olga Skorobogatova said on Wednesday. The pilot test will include opening digital wallets, making purchases with digital roubles and transfers between around 600 customers and 30 companies from 11 cities. The digital rouble is scheduled to be widely introduced in 2025. Next year, the central bank will expand the list of participants, with another 19 banks keen to join the pilot, Skorobogatova said.

Persons: Maxim, Olga Skorobogatova, Skorobogatova, Elena Fabrichnaya, Alexander Marrow, Louise Heavens Organizations: REUTERS, Council, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Caribbean, Nigeria, U.S, China, Ukraine

☆ Japan braces for Typhoon Khanun's winds and heavy rainfall
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

City skyline and harbour are seen at sunrise in Tokyo, Japan July 24, 2021. REUTERS/Maxim Shemetov/File PhotoTOKYO, Aug 7 (Reuters) - A swath of Japanese regions, including central areas, are bracing for Typhoon Khanun to approach near southwestern Japan on Tuesday, as the country's meteorological agency warns of damage from strong winds and heavy rainfall. The storm was hovering about 160 kilometres (99 miles) east-northeast of the city of Amami in southwestern Japan and moving slowly north as of 9 a.m. local time (0000 GMT), the Japan Meteorological Agency (JMA) said. Khanun has gradually lost its strength but still packs winds of 108 kph (67 mph), with gusts of up to 144 kph. "Due to the slow movement of the typhoon and its prolonged impact, total rainfall may greatly exceed the normal monthly rainfall for August in the Pacific Ocean side of Kyushu and western Japan, and in the Tokai region," the JMA said.

Persons: Maxim, Khanun, Satoshi Sugiyama, Gerry Doyle Organizations: REUTERS, Japan Meteorological Agency, JMA, Mazda Motor Corp, West Japan Railway Co, Thomson Locations: Tokyo, Japan, Amami, Japan's Nagasaki, Khanun, South Korea, Shikoku, Kyushu, Western Japan, Tokai, Hakata, Osaka, Nagasaki

☆ Aramco Q2 profit down 38% to $30 bln
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: 1 min

A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov/File PhotoCompanies Saudi Arabian Oil Co FollowDUBAI, Aug 7 (Reuters) - Saudi Arabian state oil giant Aramco (2222.SE) on Monday reported a near 38% drop in second-quarter net profit reflecting lower oil prices and thinner margins in refining and chemicals. Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion a year earlier, the company said in a bourse filing, but topped the $29.8 billion expected by 15 analysts in an Aramco-provided poll. ($1 = 3.7513 riyals)Reporting by Maha El Dahan and Yousef Saba; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Maxim, Maha El Dahan, Yousef Saba, Jason Neely Organizations: Saudi, REUTERS, Companies Saudi Arabian Oil, Thomson Locations: Saudi Aramco, Abqaiq, Saudi Arabia, DUBAI, Saudi Arabian, Aramco, bourse

Aramco's net profit fell to 112.81 billion riyals ($30.07 billion) for the quarter to June 30 from 181.64 billion riyals a year earlier, beating a company-provided median estimate from 15 analysts of $29.8 billion. The group declared a base dividend of about $19.5 billion for the second quarter, roughly in line with its payout for the first quarter. Aramco will begin paying performance-linked dividends for six quarters, starting with a $9.87 billion payout in the third quarter, it said. A view shows branded oil tanks at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. The firm still sees capital expenditure at between $45 billion and $55 billion this year, Nasser said on a media call.

Persons: Maxim, Graphics Brent, Brent, Amin Nasser, Nasser, Maha El Dahan, Yousef Saba, Jan Harvey, Bernadette Baum Organizations: Aramco, Investment Fund, Saudi, REUTERS, Graphics, of, Petroleum, Thomson Locations: China chem, DUBAI, Saudi Arabian, Aramco, Saudi, Saudi Arabia, Russia, Saudi Aramco, Abqaiq, Moscow, Riyadh

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