Category: World News
Some investors offering Ethiopia maturity extension on 2024 bond
Reuters Reuters exclusively revealed that an informal group of international bondholders has proposed to Ethiopia’s government to extend the maturity of the country’s $1 billion eurobond issue coming due in 2024. The sources said the proposal to extend the eurobond maturity foresees a coupon of 6.625% – the same as the current one on what…
Read MoreRussia plans deep March oil export cuts
Reuters Reuters exclusively reported that Russia plans to cut oil exports from its western ports by up to 25% in March versus February, exceeding its announced production cuts in a bid to lift prices for its oil, three sources in the Russian oil market said. Russia had already announced plans to cut its oil production…
Read MoreReuters exclusively revealed that U.S. sanctions authority probes Raiffeisen on Russia
Reuters Reuters exclusively revealed that the United States’ sanctions authority has launched an inquiry into Raiffeisen Bank International over its Russian business, increasing scrutiny of the Austrian lender that plays a critical role in the Russian economy. The request, part of Washington’s renewed push to financially isolate Moscow, is worrying European financial regulators that oversee…
Read MoreAnalysis: Gas shortage exposes fragile South Asian economies to more pain
Reuters Reuters proprietarily analyzes the economies of Pakistan and Bangladesh amidst a shortage of imported gas. With just over a month until peak Ramadan shopping season, the head of Pakistan’s retail industry body is pressing officials to relax orders that forced malls to shut by 8.30 p.m. to save energy. More than 40% of annual…
Read MoreTencent scraps plans for VR hardware as metaverse bet falters
Reuters Reuters was first to share that Tencent Holdings (0700.HK) is abandoning plans to venture into virtual reality hardware, as a sobering economic outlook prompts the Chinese tech giant to cut costs and headcount at its metaverse unit, three sources familiar with the matter said. The world’s largest video game publisher had ambitious plans to build both…
Read MoreChina rolls out GMO corn planting, starts small
Reuters Reuters exclusively reported that China will likely plant less than 1% of its corn fields with genetically modified varieties this year, said two people familiar with the plans, dashing hopes for a full market launch of the technology in the world’s second-largest corn market. The agriculture ministry has designated around 4 million mu (60,000…
Read MoreReuters exclusively reveals that EU industry chief Thierry Breton plans consultation on Big Tech and telecoms network costs
Reuters Reuters exclusively reveals that EU industry chief Thierry Breton is poised to launch a consultation on whether Big Tech should bear a portion of telecoms network costs. Breton confirms the consultation will be announced at Barcelona. EU telecoms providers have long sought to have Big Tech cover some infrastructure cost for 5G and broadband,…
Read MoreSouth Korea aims to join AI race as startup Rebellions launches new chip
Reuters Reuters reveals South Korean startup Rebellions Inc. launches an artificial intelligence (AI) chip on Monday, racing to win government contracts as Seoul seeks a place for local companies in the exploding AI industry. The company’s ATOM chip is the latest Korean attempt to challenge global leader Nvidia Corp (NVDA.O) in the hardware that powers…
Read MoreReuters first to report U.S. investigation into Elon Musk’s Neuralink
Reuters Reuters was first to report that the U.S. Department of Transportation is investigating Elon Musk’s brain-implant company, Neuralink, over the potentially illegal movement of hazardous pathogens. A Department of Transportation spokesperson told Reuters about the probe after the Physicians Committee of Responsible Medicine, an animal-welfare advocacy group, wrote to Secretary of Transportation Pete Buttigieg…
Read MoreReuters was first to report that Indian refiners pay traders in dirhams for Russian oil
Reuters Reuters was first to report that Indian refiners have begun paying for most of their Russian oil purchased via Dubai-based traders in United Arab Emirates dirhams instead of U.S. dollars. While Western sanctions against Moscow are not recognised by India, and purchases of Russian oil may in any case not violate them, banks and…
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