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 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 evolution, … 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

Russia’s Putin declares martial law in seized Ukrainian regions

Ukrainians press counter-offensives City of Kherson under pressure, says Russia Moscow seeks evacuation of inhabitants Battle for Kherson seen drawing near KYIV/MIKOLAIV, Ukraine, Oct 19 (Reuters) – President Vladimir Putin introduced martial law on Wednesday in four Ukrainian regions he says are part of Russia as some residents of the Russian-held city of Kherson left … 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

Hurricane Fiona seen intensifying after slamming Dominican Republic, Puerto Rico

SAN JUAN, Puerto Rico/Santo Domingo, Sept 19 (Reuters) – Hurricane Fiona was churning north on Monday evening after bringing torrential rain and powerful winds to the Dominican Republic and triggering a total power outage in neighboring Puerto Rico, where at least two people died. The Category 2 hurricane will likely become a Category 3 as … Read more

Europe races to prepare for energy crunch this winter

Spain may shut energy-intensive industries at peak times France prepares to send gas to Germany in October Germany to sign LNG contracts in UAE Berlin still working on Uniper bailout BERLIN/LISBON, Sept 19 (Reuters) – Germany was pressing on Monday to secure liquefied natural gas contracts with Gulf producers and other European states outlined measures … Read more

EU seeks $140 billion to insulate consumers from energy crisis

Russia has steadily cut gas supplies to Europe European governments fork out billions to help businesses EU’s von der Leyen says aid so far ‘will not be enough’ BRUSSELS/DUESSELDORF, Sept 14 (Reuters) – The European Union’s executive outlined plans on Wednesday to raise more than $140 billion from energy firms to help shield households and … Read more