2023-11-08 11:49
MOSCOW, Nov 8 (Reuters) - Russian banks could make record profits of 2.9 to 3 trillion roubles this year, Deputy Central Bank Governor Olga Polyakova said on Wednesday. Polyakova said the central bank expects banks to add to their reserves in the fourth quarter. On Tuesday Russia's biggest bank, Sberbank (SBER.MM) said it expected to make record profits this year, bouncing back after a 75% drop last year when Western sanctions hammered the financial sector. https://www.reuters.com/business/finance/russian-banks-could-make-record-profits-2023-russian-entral-bank-2023-11-08/
2023-11-08 11:47
June 1 (Reuters) - Ohio has become the latest U.S. state to legalize marijuana for recreational use, following a voter-approved ballot initiative. Adult-use cannabis is now legal in 24 states and also in the District of Columbia, Guam and the Northern Mariana Islands. Below is the list of U.S. states along with Washington DC that have legalized recreational marijuana: ** Source - TD Cowen estimates from April 19 https://www.reuters.com/world/us/us-states-where-recreational-marijuana-is-legal-2023-05-31/
2023-11-08 11:45
Nov 8 (Reuters) - Pipeline operator TC Energy (TRP.TO) on Wednesday beat third-quarter profit estimates, as it gained from transporting higher volumes of liquefied natural gas. The company reported an adjusted profit of C$1.00 ($0.7262) per share for the quarter ended Sept. 30, compared with the average analyst estimate of C$0.97 per share, according to LSEG data. Gas flows to seven big U.S. liquefied natural gas (LNG) export plants jumped in the quarter as buyers looked for alternatives to Russian gas imports and to fill Europe's storage inventories, helping pipeline operators. TC Energy's U.S. natural gas pipelines' quarterly LNG deliveries averaged at 3.1 billion cubic feet per day (Bcf/d), up 1.4% from a year earlier, and the segment's earnings were up 9.5% to C$782 million in the quarter. ($1 = 1.3771 Canadian dollars) https://www.reuters.com/business/energy/tc-energy-beats-third-quarter-profit-estimates-higher-transport-volumes-2023-11-08/
2023-11-08 11:41
LONDON, Nov 8 (Reuters) - The European Union's banking watchdog set out proposals on Wednesday requiring that from June issuers of stablecoins backed by currencies to have sufficient funds to fully redeem investors. The bloc is deploying the world's first comprehensive set of rules for cryptocurrency and stablecoin markets, and the European Banking Authority (EBA) proposed minimum capital and liquidity requirements for issuers of stablecoins and other types of digitised tokens. The EBA launched public consultations on liquidity requirements for the reserve of assets that back a stablecoin, meaning that only eligible assets of high enough quality can be used. The aim is to ensure that the assets can be quickly sold to raise cash for paying redemptions even in stressed markets, key to stopping runs and contagion in a crisis. The EBA said that issuers of stablecoins backed by a currency must be able to offer full redemptions at par to investors. Stablecoins backed by an asset such as gold, would only have to offer redemptions at the going market price for the asset at the time of redemption. "Following application of the guidelines, the supervisor may strengthen the liquidity requirements of the relevant issuer to cover those risks based on the outcome of the liquidity stress testing," EBA said in a statement. Banks may be exempt from liquidity requirements in some instances, given that they already hold liquidity buffers under existing EU bank capital and liquidity rules, the EBA said. The proposed liquidity rules ensure that issuers of stablecoins, which can be non-bank institutions, meet the same safeguards, and also avoid unfair capital or liquidity advantages over banks. All the proposals have been put out to public consultation for three months, with a public hearing on Jan. 30. Earlier this week, Britain's financial regulators set out initial proposals for regulating stablecoins in the first leg of UK rules for the crypto sector. https://www.reuters.com/markets/europe/eu-watchdog-sets-out-capital-liquidity-rules-stablecoin-issuers-2023-11-08/
2023-11-08 11:38
NEW DELHI, Nov 8 (Reuters) - Reeling under hazardous air quality levels, India's capital New Delhi shut down all schools for an extended period on Wednesday, the latest in a series of measures to protect residents from growing air pollution. Air quality levels in the city were over 320 on the air quality index, a level categorised as 'hazardous' by Swiss group IQAir, although it was not as bad as the 400 range hit earlier this week. Schools in the capital city would remain closed from Thursday until Nov. 18 on a winter break, which was originally scheduled for January, the Delhi government said in a notification. Primary schools in the city had already been shut, as part of measures to protect young children against smog and growing air pollution. The world's most polluted city, with a population of more than 20 million, has stopped construction activities, imposed restrictions on use of vehicles from next week, but wants neighbouring states to control crop residue burning. Farmers in Punjab and Haryana usually burn crop stubble left behind after rice is harvested in late October or early November to quickly clear their fields before planting wheat crops. The practice has been followed for years and the resultant smoke has typically accounted for 30% to 40% of Delhi's October-November pollution, according to federal government's air-quality monitoring agency SAFAR. On Tuesday, the country's top court ordered states surrounding New Delhi to stop farmers burning residue. https://www.reuters.com/world/india/reeling-under-toxic-air-indias-capital-shuts-schools-2023-11-08/
2023-11-08 11:34
LONDON, Nov 8 (Reuters) - Britain on Wednesday imposed sanctions on 29 individuals and entities in Russia's gold and oil sectors, as it targets the Kremlin's finances supporting the war in Ukraine. Those sanctioned include a United Arab Emirates-based network which Britain said was responsible for channelling more than $300 million in gold revenues to Russia. Britain also sanctioned two of Russia's largest gold producers, Nord Gold Plc and Highland Gold Mining Ltd, as well as oligarchs Vladislav Sviblov and Konstantin Strukov. "Today’s sanctions will hit those who have provided succour to (Russian President Vladimir) Putin by helping him to lessen the impact of our sanctions on Russian gold and oil – two critical sources of revenue for the Russian war machine," British Foreign Secretary James Cleverly said. Britain sanctioned energy trading firm Paramount Energy & Commodities DMCC, saying its opaque ownership structures have been used by Russia to blunt the impact of the G7's oil-related sanctions. The latest sanctions are meant to block individuals and entities from helping Russia evade the impact of international sanctions, Britain said. https://www.reuters.com/world/uk/britain-targets-russian-gold-oil-sectors-new-sanctions-2023-11-08/
