2024-05-20 06:02

May 20 (Reuters) - Iranian President Ebrahim Raisi, a hardliner long seen as a potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday. The helicopter was also carrying Foreign Minister Hossein Amirabdollahian and six other passengers and crew, all of whom perished. Here are reactions to the news: SAUDI ARABIA'S KING SALMAN BIN ABDULAZIZ AND CROWN PRINCE MOHAMMED BIN SALMAN They offered condolences to the acting head of the executive authority, Mohammad Mokhber, on the death of Ibrahim Raisi, president of the Islamic Republic of Iran, and his companions. MARYAM RAJAVI, PRESIDENT-ELECT OF PARIS-BASED NATIONAL COUNCIL OF RESISTANCE OF IRAN OPPOSITION GROUP, IN A STATEMENT: "This represents a monumental and irreparable strategic blow to the mullahs’ Supreme Leader Ali Khamenei and the entire regime, notorious for its executions and massacres." "It will trigger a series of repercussions and crises within theocratic tyranny, which will spur rebellious youths into action." "The curse of mothers and those seeking justice for the executed, along with the damnation of the Iranian people and history, mark the legacy of Ebrahim Raisi, the notorious perpetrator of the 1988 massacre of political prisoners." AFGHANISTAN'S ACTING PRIME MINISTER MULLAH MOHAMMAD HASSAN AKHUND: "We share in the grief of the Islamic Republic of Iran and its people and extend our condolences to all the families of the victims, the nation, and the government of Iran. "In these difficult times, we stand alongside the people of Iran and pray for forgiveness for all the victims of this incident and for patience for their families." CHINA'S FOREIGN MINISTRY SPOKESPERSON "President Xi Jinping has already sent a direct message to Iran's first vice president, Mohammad Mokhber." Xi said President Raisi made important contributions towards Iran's security and stability, and towards "developing the comprehensive strategic partnership between China and Iran." PALESTINIAN PRESIDENT MAHMOUD ABBAS, IN A STATEMENT: "We extend our sincere condolences and sympathy to the brotherly Iranian people for the passing of the late President Ibrahim Raisi and the Foreign Minister, praying to Almighty God to bestow His vast mercy upon the deceased Iranian President and the others, and to grant patience and solace to their families, affirming the solidarity of the State of Palestine and its people with the Iranian leadership and people in this great affliction." PAKISTAN PRIME MINISTER SHEHBAZ SHARIF, ON X: "The great Iranian nation will overcome this tragedy with customary courage. "Pakistan will observe a day of mourning and the flag will fly at half mast as a mark of respect for President Raisi and his companions and in solidarity with brotherly Iran." INDIAN PRIME MINISTER NARENDRA MODI ON X: "Deeply saddened and shocked by the tragic demise of Dr. Seyed Ebrahim Raisi, president of the Islamic Republic of Iran. His contribution to strengthening India-Iran bilateral relationship will always be remembered." "My heartfelt condolences to his family and the people of Iran. India stands with Iran in this time of sorrow." RUSSIAN PRESIDENT VLADIMIR PUTIN: "Seyed Ebrahim Raisi was an outstanding politician whose entire life was devoted to serving the Motherland." "As a true friend of Russia, he made an invaluable personal contribution to the development of good neighbourly relations between our countries and made great efforts to bring them to the level of strategic partnership." OPEC SECRETARY GENERAL HE HAITHAM AL GHAIS: “In these difficult times, on behalf of myself and all the staff at the OPEC Secretariat, I extend my condolences and sympathy to the esteemed leadership and people of the Islamic Republic of Iran and the families of HE President Raisi and other officials.” TURKISH PRESIDENT TAYYIP ERDOGAN, ON X: "As a colleague who personally witnessed his efforts for the peace of the Iranian people and our region during his time in power, I remember Mr. Raisi with respect and gratitude." LEADER OF YEMEN'S HOUTHIS ABDUL MALIK AL-HOUTHI: "It is with great regret and sorrow that we received the news of the unfortunate incident of the President of the Islamic Republic, Mr. Ibrahim Raisi, the Minister of Foreign Affairs, Dr. Hussein Amir Abdullahian, and their companions." THE PALESTINIAN IRANIAN-BACKED ISLAMIC JIHAD GROUP: "The martyrdom of the President and his Foreign Minister is a great loss for the Islamic Republic." It said his loss was "a great one for the Palestinian people in these difficult circumstances, as they played a prominent and clear role in supporting and assisting the struggle of the Palestinian people." NECHIRVAN BARZANI, PRESIDENT OF THE IRAQI KURDISTAN REGION: "The passing of President Raisi is an immense tragedy and a profound loss for the Islamic Republic of Iran, its people, and its friends." "Nevertheless, we have faith that the noble people of Iran and the Islamic Republic will overcome this immense loss. May God Almighty provide assistance and protection to all, and may the memory of the departed be blessed." ARAB LEAGUE CHIEF AHMED ABOUL GHEIT, IN A STATEMENT: "We pray to God to shower them with mercy and forgiveness and to inspire their families with patience and solace." SUDAN'S SOVEREIGN COUNCIL HEAD ABDEL FATTAH AL-BURHAN, IN A STATEMENT: "While the President of the Sovereign Council extends his sincere condolences and sympathy to the friendly Iranian people, he prays to God Almighty that he may have mercy on the President and his companions, and grant their families patience and solace, expressing the solidarity of the Government of Sudan and its people with the leadership and the Iranian people in this great loss." MALAYSIAN PRIME MINISTER ANWAR IBRAHIM, ON FACEBOOK: President Raisi "exemplified a deep commitment to the welfare of his people and the dignity of his nation, which represents a proud and rich civilisation rooted in the principles of Islam." "His dedication to justice, peace, and the uplift of the ummah was truly inspiring." ITALIAN PRIME MINISTER GEORGIA MELONI ON BROADCASTER CHANNEL 5 TELEVISION: "I see in these hours that the Iranian authorities are crediting the thesis of the accident and not conspiracy theories." "I do not see any changes in the internal order in Iran, we are in constant contact with our European and G7 allies because we are talking about an incident that is part of a particularly complex regional framework. "I hope that the future Iranian leadership wants to commit itself to the stabilisation and pacification of the region." CHARLES MICHEL, PRESIDENT OF THE EUROPEAN COUNCIL, ON X: "The European Union expresses its sincere condolences for the death of President Raisi and Foreign Minister Abdollahian, as well as other members of their delegation and crew in a helicopter accident. Our thoughts go to the families." JAPAN'S GOVERNMENT SPOKESPERSON YOSHIMASA HAYASHI: Japan expresses its deepest condolences to the government and people of Iran over the death of President Raisi and the foreign minister. VENEZUELAN PRESIDENT NICOLAS MADURO, ON X: "...Deeply saddened to have to say goodbye to an exemplary person, an extraordinary leader of the world as our brother Ebrahim is, and will always be, an excellent human being, defender of the sovereignty of his people and unconditional friend of our country." "From Bolivarian lands, we express our deepest condolences to Supreme Leader Ayatollah Ali Khamenei and wish for divine consolation for such a sensitive loss." EGYPTIAN PRESIDENT ABDEL FATTAH EL-SISI: "The president of the Arab Republic of Egypt ... prays that the deceased Iranian President and the departed may rest in God Almighty's mercy, and grant their families patience and solace, expressing the solidarity of the Arab Republic of Egypt with the Iranian leadership and people in this terrible incident." LEBANON'S IRAN-BACKED HEZBOLLAH GROUP, IN A STATEMENT: It praised the struggle of the martyrs in defending the causes of the nation and their service to Iran, calling on God to bless them with his mercy, to protect Khamenei, and to grant Iran the ability to overcome the ordeal with patience and determination. SRI LANKA PRESIDENT RANIL WICKREMESINGHE, ON X: "I express my deepest sympathies and sincere condolences to the bereaved families, the government and the people of Iran. Our thoughts and prayers are with the families of President Raisi and his entourage." JORDAN'S KING ABDULLAH, ON X: "My deepest condolences to the brothers, leadership, government and people of the Islamic Republic of Iran on the death of Brother President Ebrahim Raisi, Foreign Minister Brother Hossein Amir Abdullahian and those accompanying them, may God have mercy on them all." "We stand in solidarity with our brothers in Iran in this difficult circumstance" UAE PRIME MINISTER SHEIKH MOHAMMED BIN RASHID AL-MAKTOUM: "Our hearts are with you in this difficult time. Our prayers are that God will cover them with His vast mercy and dwell them in His spacious Paradise." SYRIAN PRESIDENT BASHAR AL-ASSAD, IN A STATEMENT: Assad affirmed Syria's solidarity with the Islamic Republic of Iran and the families of the dead. Assad added that Syria had worked with the late president to ensure strategic ties between Syria and Iran remained prosperous, recalling Raisi's important visit to Syria as part of enhancing ties for the benefit of both nations. IRAQ PRIME MINISTER MOHAMMED SHIA AL-SUDANI, IN A STATEMENT: "We extend our heartfelt condolences and sympathies to the Supreme Leader of the Islamic Republic, Ali Khamenei, and to the nation of Iran, its government and people. "We express our solidarity with the brotherly Iranian people and the officials of the Islamic Republic during this painful tragedy." HAMAS STATEMENT: The statement conveyed Hamas' "deepest condolences...for "this immense loss." It praised the deceased Iranian leaders for supporting the Palestinian cause and resistance against Israel and expressed confidence that Iran's "deep-rooted institutions" will enable it to overcome "the repercussions of this great loss." QATAR'S EMIR SHEIKH TAMIN BIN HAMAD AL-THANI, ON X: "Sincere condolences to the government and people of the Islamic Republic of Iran...asking God Almighty for mercy and forgiveness for them and for their families with patience and solace. "We belong to Allah and to Him we shall return." Sign up here. https://www.reuters.com/world/reactions-death-irans-president-helicopter-crash-2024-05-20/

2024-05-20 06:02

MOSCOW, May 20 (Reuters) - The Russian government has made a final decision to suspend the temporary ban on gasoline exports as the market is sufficiently supplied, the RBC daily reported on Monday citing a source familiar with the decision. The Energy Ministry has confirmed the information, it added. Russia banned gasoline exports for six months from March 1, though exempted a Moscow-led economic union and some countries with which it has direct inter-governmental agreements on fuel supplies in place, such as Mongolia. "The temporary ban on gasoline exports, which came into effect on March 1, will be suspended due to saturation of the domestic market and completion of unscheduled maintenance at refineries," the Energy Ministry confirmed. The decision to suspend the ban will be published at the beginning of the week, RBC said citing a source, who did not specify the time frame for the new decision. "Refineries and oil depots have formed stocks of motor gasoline, allowing to fully cover the needs of the domestic market. As of May 15, they amounted to 2.1 million tons of motor gasoline and 3.4 million tons of diesel fuel," the Energy Ministry said. Sign up here. https://www.reuters.com/business/energy/russia-lift-gasoline-export-ban-rbc-reports-2024-05-20/

2024-05-20 05:56

About 70% saw demerits in BOJ's prolonged easing - survey Weak yen among drawbacks of monetary easing cited by firms Many firms keen to hike wages, found it easier to raise prices Findings may help BOJ justify steady interest rate hikes TOKYO, May 20 (Reuters) - Japan's large manufacturers saw exchange rate stability as the biggest factor they wanted out of the central bank's monetary policy, a Bank of Japan survey showed on Monday. Roughly 70% of firms polled said they experienced drawbacks from the BOJ's 25-year-long monetary easing measures including a weak yen that pushed up import costs, the survey showed. About 90% of the total also saw benefits from the BOJ's prolonged easing such as low borrowing costs, the poll showed. The survey, conducted on roughly 2,500 firms nationwide, highlights the importance Japanese firms place on yen moves in assessing the impact of monetary policy. Many firms surveyed also said they were no longer able to hire enough workers if they kept wage growth low, and saw an economy where wages and inflation rose in tandem as more favourable than one where wages and prices barely moved. "Japan is on the cusp of seeing big changes in corporate behaviour," the BOJ said in the survey conducted as part of a long-term review of the pros and cons of its past monetary easing steps. About 90% of firms said they were more willing to hike wages largely to address labour shortages, while over 80% said they found it easier than before to hike prices, the survey showed. The findings underscore the BOJ's view that rising wages and prices will keep inflation sustainably around its 2% target, and allow it to raise interest rates from current near-zero levels. The BOJ ended eight years of negative interest rates and other remnants of its radical monetary stimulus in March, making a historical shift away from decades of ultra-loose policy. But the decision failed to reverse the yen's declines that have hurt consumption by pushing up imported goods prices, as markets focused on the still-large interest rate divergence between Japan and the United States. The long-term review was launched by BOJ Governor Kazuo Ueda in April last year, and looks into the benefits and drawbacks of the unconventional easing tools the central bank used during its 25-year battle with deflation. While the BOJ has said the review won't have a direct impact on future monetary policy, analysts say the discussions could offer clues on how soon the central bank would raise rates again and reduce its huge bond purchases. Monday's survey, which was part of the review, polled companies on how they saw their business activities affected by the central bank's monetary easing measures since the mid-1990s. The BOJ will also hold on Tuesday a second workshop where its officials and academics discuss the impact of past monetary easing steps on the economy and prices. Sign up here. https://www.reuters.com/markets/asia/japan-manufacturers-want-stable-fx-boj-policy-survey-shows-2024-05-20/

2024-05-20 05:19

NEW YORK, May 20 (Reuters) - The dollar edged up against the euro on Monday as investors awaited further clues on the path of U.S. interest rates in the wake of cautious comments from Federal Reserve officials, even as inflation showed signs of cooling. Federal Reserve officials are not ready to say inflation is heading to the U.S. central bank's 2% target after data last week showed a welcome easing in consumer price pressures in April, with several on Monday calling for continued policy caution. Atlanta Fed President Raphael Bostic said on Monday it will take a while for the Federal Reserve to be confident that inflation is on track back to its goal. "The issue right now is when are we going to be certain that inflation is clearly on a path back to 2%. I think it's going to take a while before we know that for sure," Bostic said in an interview with Bloomberg Television. Speaking at the Mortgage Bankers Association conference in New York, Fed Vice Chair Philip Jefferson said it is too early to tell whether the recent slowdown in the disinflationary process will be long lasting. The euro was 0.05% down against the dollar at $1.0863. Against the yen , the dollar was up 0.4% to 156.26 yen. Data last week showed U.S. consumer prices rose less than expected in April, leading to markets pricing in 50 basis points of Fed rate cuts this year. With little in the way of economic data on the calendar for the day, most major currency pairs clung to tight trading ranges on Monday. "I think after CPI passed last week the FX market is rather lacking a catalyst at this stage," said Michael Brown, market analyst at online broker Pepperstone in London. "While the FOMC (Federal Open Market Committee) calendar is, again, stupendously busy, it seems there's little fresh information that speakers can add at this stage, especially with the reaction function so well-signposted, another hike all but ruled out, and a couple more promising inflation figures, at least, needed to provide the requisite confidence of inflation returning towards 2% before the first cut can be delivered," Brown said. Survey-based gauges of the economy for the euro zone, Germany, the UK and the United States are due this week. The euro remained not far from the nearly two-month high of $1.0895 it touched last week. It is up 1.8% so far in May, boosted by a fall in the dollar on the back of softer U.S. growth and inflation data, as well as a pickup in the euro zone economy. With the Japanese yen weaker on the day, traders remained on alert for signs of government intervention. The currency has moved in tight ranges in the past couple of trading days after a tumultuous start to May in the wake of suspected rounds of currency interventions by Tokyo to prop up the yen. Sterling was up 0.07% at $1.2711 on the day after touching a two-month high of $1.27255, ahead of a UK inflation report due on Wednesday. The Australian dollar was down 0.3% at $0.6671. The Aussie has risen 3% this month amid high Australian inflation. Monday's weakness in the commodity-linked currency despite strength in commodity prices bodes ill for the near-term outlook for the Australian dollar, Pepperstone's Brown said. "(The weakness) on a day with commodities rallying and equities solid enough, (is) perhaps a canary in the coal mine for antipodean bulls," Brown said. In cryptocurrencies, bitcoin was 2.7% higher on the day at $68,715, a new five-week high. Sign up here. https://www.reuters.com/markets/currencies/dollar-steady-traders-await-clues-us-rate-path-2024-05-20/

2024-05-20 05:10

LONDON, May 20 (Reuters) - Global venture capital investment in crypto companies rose to $2.4 billion in the first three months of 2024, data showed on Monday, in a tentative sign that investor interest is returning. Crypto venture capital flows peaked at $11.1 billion in the first quarter of 2022, before seven consecutive quarters of declining volumes, with just $1.7 billion in the last quarter of 2023, data from PitchBook showed. "The crypto industry is still in its early stages, and there is a lot of room for growth and innovation," PitchBook senior analyst Robert Le said in a report. "Barring any major market downturns, we expect the volume and pace of investments to continue increasing throughout the year," he added. A combination of low interest rates and high risk appetite had fuelled the crypto industry to explosive growth in 2020 and 2021, but a series of bankruptcies at major crypto firms in 2022 spooked investors and sent the price of bitcoin plummeting . Investors who had backed U.S. exchange FTX were forced to write down their investments to zero, while millions of people were left out of pocket as various crypto platforms stopped allowing withdrawals. Over the last year, some investors have become more confident about crypto, helped by U.S. regulators at the start of 2024 approving exchange-traded funds tracking bitcoin's spot price. Bitcoin has steadily recovered from 2022's lows, hitting a fresh all-time high of $73,803.25 in March - although it has since struggled for direction. Sign up here. https://www.reuters.com/business/venture-capital-investment-crypto-picks-up-after-long-decline-2024-05-20/

2024-05-20 05:01

DENPASAR, Indonesia, May 20 (Reuters) - Indonesia's coordinating minister of investment said that Elon Musk will consider an offer to build an electric vehicle battery plant in the country, after the CEO of Tesla (TSLA.O) New Tab, opens new tab met with President Joko Widodo on Monday. Musk was not immediately available for comment after minister Luhut Pandjaitan made his remarks to reporters. Musk and Widodo met in Indonesia's Bali after both attended the World Water Forum on Monday. "We made an offer, is it possible to build an EV battery plant here, precursor cathode. And he will consider it," Luhut told reporters. Luhut said Widodo also asked Musk to consider investing in an AI centre in the Southeast Asian country and for SpaceX to build a launchpad in Biak island in Indonesia's Papua province, an offer the government has made before. Indonesia's government has been trying for years to lure Tesla to build manufacturing plants related to electric vehicles as the government wants to develop its EV sector using the country's rich nickel resources. On Sunday, Musk had launched SpaceX's satellite internet service for the health sector in Indonesia. Starlink was now available commercially, but the government would focus its services first on outer and underdeveloped regions. SpaceX's Starlink, which owns around 60% of the roughly 7,500 satellites orbiting earth, is dominant in the satellite internet sphere. Sign up here. https://www.reuters.com/business/autos-transportation/indonesia-minister-says-musk-consider-building-ev-battery-plant-country-2024-05-20/