2024-06-01 06:02

June 1 (Reuters) - Democratic Republic of Congo's central bank decided at a meeting of its monetary policy committee on Friday to keep its policy rate unchanged at 25%, the bank said in a statement. Sign up here. https://www.reuters.com/world/africa/dr-congo-central-bank-keeps-policy-rate-25-2024-06-01/

2024-06-01 05:49

KYIV, June 1 (Reuters) - Russia launched a barrage of missiles and drones on Saturday that damaged energy facilities and critical infrastructure across Ukraine, injuring at least four people, and prompting President Volodymyr Zelenskiy to issue a fresh plea for more air defence assistance. The sixth major Russian air attack on the Ukrainian power sector since March damaged energy facilities in the east, centre, and west, the national grid operator Ukrenergo said. Ukraine's air force said it shot down 35 of 53 Russian missiles and 46 of 47 attack drones used for the strikes, which pile more pressure on Ukraine's hobbled energy system as the war with Russia is in its third year. "Russia's main goal is to normalize terror, to use the lack of sufficient air defence and determination of Ukraine's partners," Zelenskiy said on the Telegram messaging app. "Partners know exactly what is needed. Additional "Patriots" and other modern air defence systems for Ukraine. To accelerate and expand F-16 deliveries to Ukraine. To provide our soldiers with all the necessary capabilities." So far this year, Ukraine has found itself on the back foot as it faced delays in military aid from the United States, intensified attacks on its infrastructure and Moscow’s push to expand the frontline, 27 months after its full-scale invasion. RENEWED ATTACKS ON POWER SECTOR On Saturday, Russian forces attacked energy facilities in the eastern Donetsk region, southeastern Zaporizhzhia and Dnipropetrovsk regions, central Kyrovohrad region and Ivano-Frankivsk region in the west, the energy ministry said. Air alerts lasted for more than three hours across the regions with many people rushing for shelters in the middle of the night. Lviv regional governor Maksym Kozytskyi said four people were injured and three critical infrastructure facilities were hit in the region on Ukraine's border with Poland. He gave no further details on the facilities. DTEK, Ukraine's largest private energy-generating company, said its two thermal power plants had been hit and equipment "seriously damaged". Russia’s defence ministry has said it is striking Ukraine’s military-industrial complex and energy facilities in retaliation for Kyiv’s strikes on Russian energy facilities. Ukraine has stepped up drone attacks on Russian oil facilities this year, trying to find a pressure point against the Kremlin whose forces are slowly advancing in the eastern Donbas region and have opened a new front in the Kharkiv region in the northeast. Russia pounded the Ukrainian energy system in the first winter of the war, and renewed its assault on the grid in March as Ukraine was running low on stocks of Western air defence missiles. Ukrainian officials have said the Western aid has started to arrive but Russian bombardments over the past two months knocked out the bulk of the thermal and hydropower generation, caused blackouts, and pushed electricity imports to record highs. The government was forced to nearly double consumer electricity tariffs to be able to fund massive repairs. It plans record electricity imports of about 27 megawatt hours (Mwh) for Saturday. Sign up here. https://www.reuters.com/world/europe/russias-major-air-attack-damages-ukrainian-energy-infrastructure-5-regions-2024-06-01/

2024-06-01 05:15

JAKARTA, June 1 (Reuters) - A volcano in Indonesia's eastern island of Halmahera erupted on Saturday spewing a five-km (3-mile) high ash cloud, the country's volcanology agency (PVMBG) said, while its disaster agency warned of potential flash floods and cold lava flow. The eruption of Mount Ibu at 11:03 a.m. (0203 GMT) follows a series of eruptions in May, after authorities noticed an uptick of volcanic activity starting in April, leading to the evacuation of seven nearby villages. "The ash column is grey with thick intensity and leaning towards the southwest," the agency said, adding that residents and tourists should maintain a distance of at least 7 km from the active crater. Footage shared by the agency showed the volcano spewing ash that grew thicker and eventually dispersed. Indonesia's disaster management agency BNPB told local authorities to anticipate secondary disasters such as flash floods and cold lava flow. Analysis by the nation's meteorology agency shows the region has the potential for moderate to heavy rain, although it did not say when. "If there is a buildup of material left over from the eruption, it should be cleaned up immediately because it is dangerous. If there is heavy rain, flash floods could occur, cause damage and many fatalities," Suharyanto, the BNPB chief, had said in a statement on Friday. The volcano has been on PVMBG's highest alert level since May 16. Mount Ibu's recent activity follows a series of eruptions of other volcanoes in Indonesia, which sits on the Pacific "Ring of Fire" and has 127 active volcanoes. Flash floods and cold lava flow from Mount Marapi, one of the most active volcanoes in West Sumatra province, covered several nearby districts following torrential rain on May 11, killing at least 67 people with 20 people still missing. Sign up here. https://www.reuters.com/business/environment/indonesias-mount-ibu-erupts-disaster-agency-warns-possible-floods-cold-lava-flow-2024-06-01/

2024-06-01 00:05

WASHINGTON, May 31 (Reuters) - The U.S. military said on Friday Yemen's Houthis launched two anti-ship ballistic missiles and one drone over the Gulf of Aden and four drones over the Red Sea. Three of the drones fired over the Red Sea were destroyed by U.S. forces and one crashed into the sea, the U.S. military's Central Command said. Centcom also said it destroyed the drone fired over the Gulf of Aden. No damage or injuries were reported as a result of the anti-ship ballistic missiles, it said. Sign up here. https://www.reuters.com/world/middle-east/houthis-fire-missiles-drones-yemen-us-military-says-2024-06-01/

2024-05-31 23:05

May 31 (Reuters) - The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed's 2% goal last month and spending softened, traders expect. After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the Fed uses to gauge underlying price pressures, rose 0.2% in April from March, following a 0.3% increase the prior month. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased by 0.2%, down from a 0.7% rise in March. "The PCE data confirms price increases aren’t as sticky as feared, keeping hopes of at least one rate cut on the table," said David Russell, global head of market strategy at TradeStation. The inflation data still shows price pressures remain above the Fed's 2% target, with the year-over-year rise in the PCE index measuring 2.7% in April, the same rate as in March. Traders remained doubtful the Fed will cut rates more than once this year, with rate futures reflecting about a 45% chance of a second rate cut by year-end, compared with about 42% before the report. Sign up here. https://www.reuters.com/markets/rates-bonds/fed-seen-more-likely-cut-rates-sept-after-pce-data-2024-05-31/

2024-05-31 23:02

BEIJING, June 1 (Reuters) - China's first food security law aimed at achieving "absolute self-sufficiency" in staple grains came into effect on Saturday, reinforcing efforts by the world's biggest agriculture importer to lower its reliance on overseas purchases. The law provides a legal framework for existing guidance by the Communist Party for local governments and the agricultural industry to raise food production, although it did not give details on how the law will be implemented. It includes protection of farmland from being converted to other uses, protecting germplasm resources and preventing wastage. Passed just six months after its first reading, the rush to adopt the food security law reflects China's urgency to resolve issues that have curbed production, such as a lack of arable land and water resources, labour shortages and a lack of agriculture technology. The law holds central and provincial governments accountable for incorporating food security into their economic and development plans, ensuring that food supply remains a top priority in the country that has a painful history of famine. The party will lead the implementation of a national food security strategy "that puts China first" by importing moderately and using advances in science and technology to boost production, according to a provision in the law. "It shall adhere to the principle of storing grain in the ground and using technology to improve grain production," it said, to ensure "basic self-sufficiency in cereal grains and absolute self-sufficiency in staple grains for food use." It also stipulates the formation of a national grain emergency plan and a food security monitoring system. China expanded the definition of "coarse grains" to include millets and oats, in addition to sorghum, barley, buckwheat, mung beans and potatoes. Grains refers to wheat, rice, corn, soybeans and coarse grains. Entities who violate the law may face a fine ranging from 20,000 yuan to 2 million yuan, while individual offenders may be slapped with fines between 20,000 yuan and 200,000 yuan. The law also said China will "strengthen international food security cooperation and allow international grain trade to play its role." It did not give details. Analysts said the law is worded vaguely and may not have a significant impact on how China boosts food production. "It doesn't change the realities on the ground for local officials who were already under significant pressure to deliver on food security," Even Pay, agriculture analyst at Beijing-based consultancy Trivium China, said. "The food security law enshrines existing practices in law, but isn't set to change anything. Food security was already among the top national priorities, and can't go any higher," she added. Sign up here. https://www.reuters.com/world/china/china-food-security-law-comes-into-force-aims-absolute-self-sufficiency-2024-05-31/