Chevron awaits Venezuelan oil cargoes, but PDVSA wants payments

HOUSTON, Nov 28 (Reuters) – Chevron Corp (CVX.N) aims to start receiving cargoes of Venezuelan oil as early as December after the oil company last week received a US license to do so, but Caracas may not be as eager because US sanctions restrict payments, people familiar with the said matter. The United States on … Read more

Reality ends some Qatari dreams of World Cup rental bonanza

Agency says Qatar hotel group demanded new payments Some rates reduced, but many properties are empty Broker says some landlords sought unrealistic rents DOHA, Nov 25 (Reuters) – Qatar has found itself with an unexpected glut of rooms in the World Cup’s busy group stage, with online portals showing rooms in at least 42 hotels … Read more

COP27 delivers climate fund breakthrough at the cost of progress on emissions

COP27 climate summit ends after marathon weekend negotiations Final deal delivered on creating historic climate finance fund Negotiators say some blocked tighter emission targets SHARM EL-SHEIKH, Egypt, Nov 20 (Reuters) – Countries closed this year’s UN climate summit on Sunday with a hard-fought deal to create a fund to help poor countries being battered by … Read more

Bankers bet billions on new wave of debt-for-nature deals

More countries linking debt cost to conservation goals Seychelles, Belize, Barbados among those to strike deals Ecuador swap could be the biggest yet at $800 million Cape Verde, Sri Lanka and others are also exploring deals SHARM EL-SHEIKH, Egypt, Nov 17 (Reuters) – The Galapagos Islands, whose thousands of unique species inspired Darwin’s theory of … Read more

China’s economy loses momentum as COVID curbs hit factories, consumers

China’s industrial output grows more slowly than expected Retail sales fell for the first time since May Property investment sees the biggest drop since early 2020 Gloomy economic outlook on softening external demand BEIJING, Nov 15 (Reuters) – China’s economy suffered a broad slowdown in October as factory output grew more slowly than expected and … Read more

Exclusive: Germany steps up emergency cash plans to cope with blackout

FRANKFURT, Nov 15 (Reuters) – German authorities are stepping up preparations for emergency cash deliveries in case of a blackout to keep the economy running, four people involved said, as the nation braces for possible power cuts arising from the war in Ukraine. The plans include the Bundesbank, Germany’s central bank, hoarding extra billions to … Read more

Show us the money: Developing world at COP27 seeks financing details

Finance Day at COP27 puts focus on banks, investors, insurers Emerging markets demand more help to pay for transition UN experts flag dozens of climate projects worth $120 billion SHARM EL-SHEIKH, Egypt, Nov 9 (Reuters) – Finance took center stage at the COP27 climate talks on Wednesday, with UN experts publishing a list of projects … Read more

EXCLUSIVE Russia seeks sanctions exemptions for state bank in Ukraine grain deal talks-sources

Russia wants the UN to help facilitate grain, fertilizer exports Requests include sanctions-hit Rosselkhozbank – sources Plan would let Rosselkhozbank process payments for grain Request is a key part of talks on rolling over grain deal Nov 4 (Reuters) – Russia wants the West to ease restrictions on state agriculture lender Rosselkhozbank to facilitate Russian … Read more

China to make ‘substantial’ COVID policy changes soon – ex-govt expert

Remarks add to investor optimism on further easing Ex-official says changes likely in next 5-6 months China may shorten quarantine for inbound travelers – sources Health officials set to hold a news conference on Saturday SHANGHAI, Nov 4 (Reuters) – China will make substantial changes to its “dynamic-zero” COVID-19 policy in coming months, a former … Read more

Egypt’s pound slides as IMF deal triggers new exchange rate regime

The central bank hikes rates in an effort to contain inflation IMF says deal can catalyze about $5 billion in FY 2022/23 Finance rules that snarled imports to be phased out CAIRO, Oct 27 (Reuters) – Egypt’s pound slid about 14.5% to a record low against the dollar on Thursday as authorities announced a $3 … Read more