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☆ Egypt's Sisi seeks to tamp down media clash with Saudi Arabia
▼ + stars: | 2023-02-09 | by ( Hatem Maher | ) www.reuters.com time to read: +2 min

Saudi Arabia along with other energy-rich Gulf states has long provided crucial funding to Egypt, upping support after Sisi took power nearly a decade ago, and as an acute financial crisis took hold last year. "The mean, the scoundrels and the nouveau-riche have no right to insult their masters," he wrote, drawing on derogatory stereotypes and claims of historical superiority. Another well-known Saudi commentator, Ali Shihabi, later tweeted: "Egypt is a black hole that will never close unless the govt is able to make material structural reforms." Tawfik's article has been removed from Al Gomhuria's website and replaced by an editorial lauding Egyptian-Saudi relations as "historic and eternal". Additional reporting by Nadine Awadalla and Aziz El Yaakoubi, Writing by Aidan LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Investors see Erdogan's earthquake response as pivotal
▼ + stars: | 2023-02-09 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

Kopf was referring to Turkey's 2002 election which came three years after a 7.6 magnitude earthquake in Izmit near Istanbul that killed nearly 18,000 people. The southeast region hit by Monday's disaster accounts for a much smaller 9.3% of national GDP and a modest 8.5% of exports. Erik Meyersson, a senior economist at Handelsbanken, said it was that power that voters would now need to see working. "But if he bungles the response, perhaps this is the straw that breaks the camel's back." Magnitude 7.9 earthquake hit southern Turkey on Feb. 6Reporting by Marc Jones; Editing by Susan FentonOur Standards: The Thomson Reuters Trust Principles.

☆ Japan's Kishida says global communication skills key criteria for picking new BOJ head
▼ + stars: | 2023-02-08 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

"I'd like to select (the next BOJ governor) taking these factors into account," Kishida said, when asked by an opposition lawmaker what the qualifications Kuroda's successor must have. Markets are closely watching the appointment of the new BOJ governor for clues on how quickly the central bank could phase out its massive stimulus programme. The government is considering presenting to parliament its nominees for next BOJ governor and two deputy governors next week, sources told Reuters. Kishida had earlier said no decision had been made, after the Nikkei newspaper reported on Monday the government has sounded out BOJ Deputy Governor Masayoshi Amamiya to succeed Kuroda. Among other key contenders, former BOJ Deputy Governor Hiroshi Nakaso has long experience overseeing the BOJ's market operations and international affairs.

☆ German govt security council OKs delivery of 178 Leopard 1 tanks to Ukraine - source
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Feb 7 (Reuters) - The German government's security council has approved delivery of 178 Leopard 1 tanks to Ukraine from industry stocks, considerably more than previously announced, a source said, confirming an earlier Spiegel magazine report. "The export of 178 Leopard 1s is approved," said the person, who was familiar with the situation. The report emerged as German Defence Minister Boris Pistorius made a surprise appearance in Kyiv. Some would be sent in the summer but the bulk of the Leopard 1s would be delivered next year, Der Spiegel reported. The move follows the German government's decision last month, amid mounting international pressure, to deliver more modern Leopard 2 battle tanks from army stocks.

☆ Italy's govt: global cyber attack did not come from state entity
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: 1 min

ROME, Feb 6 (Reuters) - The global ransomware hacking attack that targeted thousands of computer servers in Italy and other countries likely came from cybercriminals and not from a state or state-like entity, Italy's government said on Monday. "No evidence has emerged pointing to an aggression by a state or hostile state-like entity", the government said in a statement, adding that no major institution or company operating in critical sectors for national security had been affected. Reporting by Giuseppe Fonte, writing by Federico Maccioni, editing by Alvise ArmelliniOur Standards: The Thomson Reuters Trust Principles.

☆ Adani crisis: Billionaire scrambles to reassure creditors as market rout enters third week
▼ + stars: | 2023-02-06 | by ( Diksha Madhok | ) edition.cnn.com time to read: +6 min

The loans were backed by shares in Adani Ports, Adani Green Energy and Adani Transmission, which have collapsed in value. While the Adani Group has vehemently denied the allegation made by Hindenburg Resarch as “baseless” and “malicious,” investors remain unconvinced. Adani companies will be reporting quarterly results this week. Moody’s said Friday that the plunge in the shares of Adani companies was likely to reduce the group’s ability to raise capital. Another agency, S&P, cut the outlook for its ratings on two companies, Adani Ports and Adani Electricity, to negative from stable, citing the risk of higher funding costs or reduced access to capital.

A day after announcing that Defence Minister Oleksii Reznikov would be replaced, a top ally of President Volodymyr Zelenskiy appeared to row back for now, saying no personnel changes in the defence sector would be made this week. Two senior lawmakers on Monday noted that rules require Ukraine's defence minister to be a civilian, which would appear to put an obstacle in the way of the immediate appointment of Budanov, a 37-year-old military officer. 'WAR DICTATES CHANGES'Arakhamia said Ukraine's armed forces should not be overseen by politicians during wartime, but by people with a background in defence or security. As a wartime defence minister, Reznikov, 56, fostered ties with Western defence officials and helped oversee the receipt of billions of dollars of military aid to help Kyiv fend off the Russian invasion. During his tenure as defence minister, he spoke out strongly about wartime corruption, which he said was akin to "marauding".

☆ Japan government has sounded out Amamiya about becoming BOJ governor -Nikkei
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +2 min

The next BOJ chief will face the delicate task of normalising ultra-loose monetary policy, which is drawing increasing public criticism for distorting market function. A career central banker who has drafted many of the BOJ's monetary easing tools, Amamiya has been seen by markets as a top contender to take over as next governor. The Nikkei report did not say whether Amamiya accepted the offer. The prime minister's office and the BOJ were not immediately available to comment on the Nikkei report outside of regular office hours. Amamiya and Masazumi Wakatabe are currently serving as deputy governors, but their five-year terms end on March 19.

☆ Gautam Adani lost half his wealth in a flash. Here’s what happened
▼ + stars: | 2023-02-04 | by ( Julia Horowitz | ) edition.cnn.com time to read: +6 min

While the Adani Group has condemned the report as “baseless” and “malicious,” investor questions about its claims linger, and the fallout is growing. Gautam Adani is a 60-year-old tycoon who founded the Adani Group more than 30 years ago. The firm said it had taken a short position in Adani Group companies, meaning it would benefit from a drop in their value. Stocks of most Adani Group companies slumped again on Friday. Indian banks that hold Adani Group assets could also be affected if the value of those holdings continues to drop.

☆ India asks Vodafone Idea to convert nearly $2 bln in govt dues into equity
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 3 (Reuters) - Troubled Indian mobile service provider Vodafone Idea Ltd (VODA.NS) said on Friday the government had ordered the company to convert into equity all the dues owed to the government for use of airwaves including the interest related to payments for spectrum. The total amount to be converted into equity shares is 161.33 billion rupees ($1.96 billion), the mobile carrier said. The company said it has been directed to issue 16.13 billion shares at 10 rupees each. The conversion of Vodafone Idea dues into equity was approved by India's capital market regulator, Reuters reported in October last year. The sector's troubles had also been compounded by large dues owed to the government.

☆ Humana profit beats estimates on strength in govt-backed insurance
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

Companies Humana Inc FollowFeb 1 (Reuters) - Humana Inc (HUM.N) beat Wall Street estimates for quarterly profit on Wednesday on strength in its government-backed insurance business for older adults. This was, however, higher than analysts' expectations of 87.20%. Excluding one-off items, the health insurer reported a profit of $1.62 per share, higher than analysts' average estimate of $1.46 per share. The company forecast adjusted profit of at least $28 per share for 2023, in line with analysts' expectations. Reporting by Leroy Leo and Khushi Mandowara in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ India's Budget 2023 highlights
▼ + stars: | 2023-02-01 | by ( Manoj Kumar | ) www.reuters.com time to read: +3 min

[1/3] The Indian parliament building is pictured on the opening day of the parliament session in New Delhi, India, June 17, 2019. REUTERS/Adnan AbidiNEW DELHI, Feb 1 (Reuters) - The Indian government on Wednesday unveiled a 45 trillion rupees ($550.7 billion) spending budget for the next fiscal year starting April to boost economic growth, while aiming to lower fiscal deficit before elections due next year. The aim is to have strong public finances and a robust financial sector for the benefit of all sections of society, Finance Minister Nirmala Sitharaman said. * Custom duty exemption extended to EV batteriesFor experts' reaction to the budget, click here. ($1 = 81.7620 Indian rupees)Reporting by Manoj Kumar; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ India Budget 2023: Here's what the experts say
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +13 min

"This budget, therefore, has rewritten the rules for financilisation of savings in India, which will induce expenditures rather incentivise savings. LAKSHMI IYER, CEO-INVESTMENT ADVISORY, KOTAK INVESTMENT ADVISORS LTD"India budget 2023 has offered a multi-dimensional view. The 3 Cs which stand out are - Capex increase - consumption boost - capital gains tax status quo. Additionally, the budget has provided significant direct tax benefits to individuals which will help increase disposable income and support spending. The budget keeps in mind the needs of future India while focusing on Artificial Intelligence and machine learning.

The National Education Union (NEU), which is organising the teachers' strikes, has asked for an above-inflation pay award funded fully by the government, so that schools can also cover other costs, from stationery to textbooks. With inflation reaching double digits last year, teachers have seen a 23% real-terms pay cut since 2010, the union says. Heighington, who teaches music, said more than a third of experienced full-time teachers and teaching staff had left his school last year. Educators say schools having to pay teachers' salaries from their own pocket has left classrooms starved of money for textbooks, IT upgrades and school trips. Reports say teachers at the elite Winchester College in southern England, where Sunak attended school and was a head boy, are among those striking on Wednesday.

☆ U.S. govt proposes expanding Obamacare coverage for birth control
▼ + stars: | 2023-01-30 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

A sign on an insurance store advertises Obamacare in San Ysidro, San Diego, California, U.S., October 26, 2017. REUTERS/Mike Blake(Reuters) - The U.S. government on Monday proposed a new rule to expand coverage of the Obamacare health insurance plans for all women who need or want birth control. Regulations in 2018 expanded exemptions for religious beliefs and moral convictions allowing private health plans and insurers to exclude coverage of contraceptive services. The new rules proposed by the U.S. Department of Health & Human Services (HHS) and the Departments of Labor and the Treasury would remove the moral exemption and retain the existing religious exemption. The rules would ensure that “tens of millions of women across the country” who have access to birth control coverage under the Affordable Care Act would get access to contraception, the HHS said.

☆ Japan will continue to monitor COVID situation in China, govt says
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

[1/3] Passengers of a plane from Dalian in China, head to the coronavirus disease (COVID-19) test area upon their arrival at Narita international airport in Narita, east of Tokyo, Japan January 12, 2023. REUTERS/Kim Kyung-HoonTOKYO, Jan 30 (Reuters) - Japan will continue to monitor the COVID-19 situation in China and deal "flexibly" with border control measures, Chief Cabinet Secretary Hirokazu Matsuno said on Monday. The comment came a day after the Chinese embassy in Japan said it had resumed the issuance of ordinary visas for Japanese citizens travelling to the country. China had stopped issuing visas for Japanese nationals earlier this month after Japan toughened COVID-19 border control rules for travellers coming directly from China. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistan govt lifts petrol, diesel prices by 35 rupees a litre
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +2 min

Jan 29 (Reuters) - Pakistan's ministry of finance announced on Sunday petrol and diesel prices would rise by 35 rupees ($0.1400) a litre after the country's currency value plummeted this week when price caps were removed. "We will have to take the rise in international oil prices and the devaluation of the rupee into account," he said. The day before, Reuters witnesses reported some petrol stations had long lines outside as residents filled their tanks due to speculation that prices would soon rise. Pakistan is in the midst of a balance of payments crisis and the plummeting value of the Pakistani rupee will push up the price of imported goods. ($1 = 250.0000 Pakistani rupees)Reporting by Charlotte Greenfield and Gibran Peshimam; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ Ghana govt and capital market operators agree on domestic debt exchange terms
▼ + stars: | 2023-01-28 | by ( ) www.reuters.com time to read: +1 min

ACCRA, Jan 27 (Reuters) - Ghana's government and the Ghana Securities Industry Association (GSIA) have reached an understanding on the terms of participation by capital market operators in the country's domestic debt exchange (DDE) programme, they said on Friday. Under the new agreement, capital market operators will participate in the exchange programme on the same "improved terms" agreed with banks earlier this week. "GSIA believes this agreement is necessary to restore market normalcy and confidence in the economy," the statement said. Ghana needs around 80% of bondholders to sign up for the DDE program. Reporting by Cooper Inveen Writing by Sofia Christensen Editing by Louise Heavens, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Brazil's central govt posts 54.1 bln reais surplus in 2022, first in 9 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

The central government, comprising Brazil's Treasury, central bank and Social Security, posted a 54.1 billion reais ($10.7 billion) budget surplus before interest payment in 2022. It followed a 4.4 billion reais surplus in December, which came higher than the 2.8 billion reais expected in a Reuters poll. Private economists polled weekly by the central bank expect 2022 GDP to rise 3%, from just 0.3% they had forecast when last year began. Surging expenses led the primary deficit budgeted for 2023 to reach impressive 232 billion reais. ($1 = 5.0783 reais)Reporting by Marcela Ayres; Editing by Mark Porter and Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

☆ Exclusive: Indian sugar mills to close early as rain hits cane supply - govt official
▼ + stars: | 2023-01-27 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

India has allowed sugar mills to export only 6.1 million tonnes of the sweetener in the current season and, out of that, mills have already contracted to export 5.7 million tonnes. Sugar mills in Maharashtra were operational until mid-June in 2021/22 as they were struggling to harvest a record crop. LOWER EXPORTSIn 2021/22 Maharashtra produced a record 13.7 million tonnes, higher than the initial estimate of 11.2 million tonnes, allowing New Delhi to export a record 11.2 million tonnes. As the sugar exports quota was nearly exhausted, the Indian Sugar Mills Association and other trade bodies were requesting the government to allow additional exports of up to 4 million tonnes. India mainly exports sugar to Indonesia, Bangladesh, Malaysia, Sudan, Somalia and the United Arab Emirates.

☆ New Fiji govt suspends police commissioner, scraps China policing arrangement
▼ + stars: | 2023-01-27 | by ( Kirsty Needham | ) www.reuters.com time to read: +2 min

President Ratu Wiliame Katonivere said Commissioner of Police Sitiveni Qiliho had been suspended on the advice of the Constitutional Offices Commission, "pending investigation and referral to and appointment of, a tribunal". The Supervisor of Elections Mohammed Saneem was also suspended by the commission, the statement said. Qiliho declined to comment to local media because he said he will face a tribunal over his conduct. On Thursday, Fiji Times reported Rabuka said his government would end a police training and exchange agreement with China. Republic of Fiji Military Forces Commander Major General Jone Kalouniwai earlier this month warned Rabuka's government against making "sweeping changes", and has insisted it abide by a 2013 constitution which gives the military a key role.

It followed a 3.9% rise in December and stayed above the central bank's 2% target for an eighth straight month, data showed on Friday. "These readings point squarely at a further, large increase in inflation at the national level this month," said Darren Tay, Japan economist at Capital Economics. Government measures to lower energy bills will kick in next month and bring inflation down by about 1% point," he said. The BOJ kept monetary policy ultra-loose this month but raised its inflation forecasts in fresh quarterly projections, as companies continued to pass on higher raw material costs to households. Kuroda, whose term will end in April, has stressed the need to keep monetary policy ultra-loose until wages rise more, changing the recent cost-push inflation into inflation driven by robust domestic demand.

☆ U.N. agency: Arabs' Israel ties no impediment to aiding Palestinian refugees
▼ + stars: | 2023-01-24 | by ( Gabrielle Tétrault-Farber | ) www.reuters.com time to read: +3 min

Relief and Works Agency for Palestine Refugees in the Near East, said he saw no contradiction between supporting Palestinian refugees and building ties with Israel. "You can have strong bilateral relations with Israel and be a strong supporter of the agency," Lazzarini told Reuters. "Whatever rapprochement or ties (with Israel) should not have the slightest impact on your commitment and your solidarity with the Palestine refugees and your support to an agency like UNRWA. "We have normal access when it comes to delivering our services in Gaza and the West Bank, but we are very concerned about the increased violence impacting this community," he said. Last year saw the worst levels of violence in the West Bank in more than a decade after Israel launched a crackdown on militants in response to fatal Palestinian street attacks.

☆ Indian govt to borrow a record 16 trillion rupees in fiscal 2023/24 - Reuters poll
▼ + stars: | 2023-01-23 | by ( Vivek Mishra | ) www.reuters.com time to read: +4 min

Gross borrowing next fiscal year is expected to hit 16.0 trillion rupees, up from an estimated 14.2 trillion rupees in 2022/23, according to the median forecast of 43 economists. Predictions were in a narrow range of 14.8 trillion to 17.2 trillion rupees. Even if it is at the lower end of the range, 2023/2024 gross borrowing would easily be the highest on record. Nim estimated repayments for 2023/24 at about 4.4 trillion rupees. India's government will cut food and fertiliser subsidies to 3.7 trillion rupees, more than 25% below the level of around 5 trillion rupees budgeted for 2022/23, the poll found.

☆ Venezuela calls off Maduro meeting with Lula, Brazil govt says
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Jan 23 (Reuters) - Venezuela has decided to call off a previously arranged meeting between President Nicolas Maduro and his Brazilian counterpart Luiz Inacio Lula da Silva on Monday, Lula's press office said. Later, however, Lula's team released a new update of his agenda saying the meeting would no longer take place as Venezuela canceled it. Lula, who took office on Jan. 1, asked his foreign relations minister to restore relations with Venezuela. Diplomatic relations between the countries were broken in 2020 by Brazil's former far-right President Jair Bolsonaro. Reporting by Lisandra Paraguassu; Editing by Steven GrattanOur Standards: The Thomson Reuters Trust Principles.

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