2026-02-12 09:11
MOSCOW, Feb 12 (Reuters) - Russia's economy will continue to slow down in the first half of 2026, Economy Minister Maxim Reshetnikov was quoted as saying on Thursday. There is still room for monetary policy easing, Interfax cited him as saying. Sign up here. Of 24 analysts polled by Reuters, 16 expect that the central bank will keep the key rate at 16% when it meets on Friday, while eight predict a 50-basis-point cut to 15.5%. (This story has been corrected to change the minister's first name to Maxim in paragraph 1) https://www.reuters.com/business/finance/russias-economy-minister-delays-recovery-outlook-interfax-reports-2026-02-12/
2026-02-12 07:58
BEIJING, Feb 12 (Reuters) - China will impose tariffs of up to 11.7% on EU dairy products, its commerce ministry said on Thursday as it released the ruling of an anti-subsidy investigation. The tariffs will be imposed effective February 13, the ministry said in a statement. Sign up here. https://www.reuters.com/world/asia-pacific/china-impose-tariffs-up-117-eu-dairy-products-2026-02-12/
2026-02-12 07:55
India concerned over political instability in Mali Rosatom approached India in 2025 for Mali lithium project India last signed overseas lithium exploration pact in 2024 NEW DELHI, Feb 12 (Reuters) - Security risks are prompting India to pull out of a lithium project in Mali backed by Russia's state nuclear corporation Rosatom, sources said, as New Delhi seeks to safeguard its investments in the politically unstable West African nation. Western nations, from Britain and France to the United States, have urged citizens to leave the landlocked nation as security concerns rise in its battle with al Qaeda-linked militants targeting economic assets and foreign investment. Sign up here. Last year Rosatom approached India's government-backed Khanij Bidesh India Ltd (KABIL) and NLC India Ltd (NLCI.NS) , opens new tab for lithium exploration in Mali, an emerging producer of the metal critical in making batteries for electric vehicles. "The project is on hold because we cannot be spending on something where there is a chance we will lose our investment," one of the sources said. Both sources, who were directly involved in the decision-making, sought anonymity because the discussions were confidential. India's mining ministry, KABIL and NLC India did not respond to Reuters requests for comment. Rosatom declined to comment. Russia has been cultivating ties with a string of African countries, through efforts including military cooperation, and has strengthened relations with Mali and Burkina Faso. The world's fastest-growing major economy, India has sought a steady supply of lithium in anticipation of rising demand for the metal, key to cutting carbon emissions from the world's third-largest emitter. New Delhi is targeting 30% electric car penetration and 80% for two-wheelers by 2030, up from 4% and 6% now. India has recently stepped up efforts for deals to access critical minerals in resource-rich countries such as Argentina, Australia and Chile. In 2024, KABIL signed an exploration and development pact with a state-owned firm in Argentina to explore and mine five lithium blocks, but has not signed any similar deals since. https://www.reuters.com/world/india/india-pulls-out-russian-backed-mali-lithium-project-over-security-risks-sources-2026-02-12/
2026-02-12 07:34
Feb 12 (Reuters) - Nearly 300,000 people were left without electricity and water supply in Ukraine's southern city of Odesa after a Russian attack, Deputy Prime Minister Oleksiy Kuleba said on Thursday. He added that close to 200 buildings in the city were left without heating, while 10,000 consumers were also left without heating in the southeastern city of Dnipro. Sign up here. https://www.reuters.com/world/nearly-300000-people-without-power-water-supply-ukraines-odesa-after-russian-2026-02-12/
2026-02-12 07:31
BEIJING, Feb 12 (Reuters) - China will make a fair and final ruling on Canadian Canola, the Chinese commerce ministry said on Thursday, adding that its anti-dumping probe into the oilseed has been extended to March 9. The extension is due to the "complexity" of the case, He Yadong, a ministry spokesperson, told a regular news conference. Sign up here. During Canadian Prime Minister Mark Carney's visit to Beijing last month, China and Canada reached an initial deal that would cut tariffs on Chinese electric vehicles in exchange for lower levies on Canadian canola. China imposed preliminary anti-dumping duties on Canadian canola last year. https://www.reuters.com/world/asia-pacific/china-will-make-fair-ruling-canadian-canola-says-commerce-ministry-2026-02-12/
2026-02-12 07:24
LONDON, Feb 12 (Reuters) - The Magnum Ice Cream Company (MICCT.AS) , opens new tab reported a 48.4% drop in full-year net profit on Thursday, driven by separation, restructuring and finance costs as the company finalised its spinoff from Unilever (ULVR.L) , opens new tab to list in December. Net profit fell to 307 million euros ($364.3 million) last year from 595 million euros in 2024, the company said in a statement. Sign up here. Magnum's Amsterdam listing was seen by some as a test of its ability to lure consumers to indulgent snacks like its Cornetto cones and Ben & Jerry's ice creams at a time when GLP-1 weight-loss drugs have shaken up consumer trends and the Trump administration is pushing a "Make America Healthy Again" campaign in the United States. Revenue for the year was largely flat at 7.9 billion euros, and CEO Peter Ter Kulve pointed to improving sales and volume growth as signs of the company's "solid operational performance". Magnum maintained its 2026 outlook of organic sales growth of 3% to 5% and underlying margin improvement. Free cash flow for the full-year slumped to 38 million euros, down from 803 million euros the year before. Magnum attributed that to the significant cash outflows related to the demerger, the impact of implementing its interim operating model, interest costs on new loans, and transitional services agreements with Unilever. ($1 = 0.8428 euros) https://www.reuters.com/business/magnum-reports-full-year-net-profit-drop-first-results-since-unilever-ice-cream-2026-02-12/
