By Joe Bavier WASHINGTON (Reuters) – Africa is struggling with the triple shock of rising debt burdens, an ongoing food crisis and climate change fallout and needs more help from international institutions and wealthy nations to cope, African finance ministers said on Saturday. Developing African economies were only beginning to recover from the COVID-19 pandemic…
By Riham Alkousaa BERLIN (Reuters) – Germany will pull the plug on its last three nuclear power stations by Saturday, ending a six-decade programme that spawned one of Europe’s strongest protest movements but saw a brief reprieve due to the Ukraine war. The smoking towers of Isar II, Emsland and Neckarwestheim II reactors were to…
By Jorgelina do Rosario and Rodrigo Campos WASHINGTON (Reuters) – Colombia is looking to issue a green bond before the end of 2023, likely in dollars, and could tap traditional credit markets again this year if borrowing costs fall, Finance Minister Jose Antonio Ocampo said on Friday. He said the amounts were not set yet,…
By Isla Binnie NEW YORK (Reuters) – Firms find that investors penalize their stock less for high greenhouse gas emissions if they voluntarily disclose that data, researchers at Lazard’s climate center said on Friday. Regulators in the United States are working on rules for how companies provide information to help investors gauge their impact on…
By Ethan Wang, Ryan Woo and Lisandra Paraguassu BEIJING/BRASILIA (Reuters) – Brazil reset its diplomatic ties with China, its largest trading partner, with a state visit on Friday where they agreed to boost investments and cooperation on technology and sustainable development, while urging peace talks in Ukraine. Brazilian President Luiz Inacio Lula da Silva and…
By Timothy Gardner WASHINGTON (Reuters) -The Biden administration on Thursday approved exports of liquefied natural gas from the Alaska LNG project that one day could help the United States compete with Russia to ship natural gas from the Arctic to Asia. The Department of Energy approved Alaska Gasline Development Corp’s (AGDC) exports of LNG from…
By Joe Bavier WASHINGTON (Reuters) -Africa is facing a severe financing squeeze that, on the back of a series of unprecedented shocks, is disrupting economic growth and endangering its long-term development, the International Monetary Fund’s (IMF) top official for the region said. Sub-Saharan Africa was only beginning to recover from the COVID-19 pandemic’s economic fallout…
By Birsen Altayli and Can Sezer ISTANBUL (Reuters) – The deadliest earthquake in Turkey’s modern history has reawakened fears on the other side of the country that Istanbul is an even bigger disaster waiting to happen, sending hundreds of thousands scrambling to find safer homes. Some 5 million of the 16 million residents of Turkey’s…
(Reuters) – PNC Financial Services Group reported an 18.5% rise in first-quarter profit on Friday, as the Federal Reserve’s rate hikes fueled a surge in the U.S. regional lender’s net interest income (NII). Shares of PNC were up nearly 3% in premarket trading after upbeat results. They fell about 20% last quarter, which was marred…
By Yuka Obayashi and Katya Golubkova SAPPORO, Japan (Reuters) -Canada is ready to become a reliable provider of critical minerals to its international allies including Japan, a senior official said, as the Group of Seven (G7) countries deem such minerals essential for climate goals and energy security. Canada has signed a joint action plan with…
