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 matter said. The United States on … Read more

US, Japan and partners mobilize $20 billion to move Indonesia away from coal

Deal will bring forward peak emissions to 2030 Indonesia sets net-zero goal in power sector Program based on COP26 South Africa plan NUSA DUA, Indonesia/SHARM EL-SHEIKH, Egypt, Nov 15 (Reuters) – A coalition of countries will mobilize $20 billion of public and private finance to help Indonesia shut coal power plants and bring forward the … 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 bln 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 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 grain … Read more

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

Central bank hikes rates in an effort to contain inflation IMF says deal can catalyze about $5 bln 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 billion … Read more

Saudi Arabia ‘mature guys’ in spat with US, energy minister says

OPEC+ oil output cut led to US, Saudi spat Saudi Arabia and US “solid allies” – minister Big Wall St turnout at flagship Saudi investment summit RIYADH, Oct 25 (Reuters) – Saudi Arabia decided to be the “mature guys” in a spat with the United States over oil supplies, the kingdom’s energy minister Prince Abdulaziz … Read more

When Chinese protesters came up against Xi’s security machine

BEIJING, Oct 13 (Reuters) – Jack Yao, a Chinese Communist Party member, never wanted to be an activist. Having escaped rural poverty and joined Beijing’s middle classes through decades of study and work, he saw himself as a patriotic poster child of the party’s successful rule. Yet the 43-year-old’s life has been upended since he … Read more

British pension funds step up fire sales as needed for cash soars

LONDON, Oct 11 (Reuters) – UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat. The Bank of England plans to stop buying bonds on Oct. 14, leaving pension schemes scrambling to meet a … Read more

Fire-fighting Bank of England forced to buy inflation-linked bonds

Bank of England says it will buy index-linked gilts Purchases of 5 bln stg per day to run to end of week BoE warns of ‘material risk’ to financial stability Move represents new headache for British PM Truss LONDON, Oct 11 (Reuters) – The Bank of England again sought to stem a sharp sell-off in … Read more