flows

OECD sees global minimum tax reshaping investment flows

PARIS (Reuters) – The introduction this year of a global minimum corporate tax will reshape the flow of multinationals’ foreign investments as the benefits from booking profits in tax havens disappear, an updated OECD impact study showed on Tuesday. First agreed in a landmark 2021 deal between 140 countries, the global minimum tax rate goes live this year with 36 countries already introducing laws setting a 15% floor on corporate taxation and more to follow. In a bid to limit tax competition between countries, the deal allows governments to apply a top-up tax to the 15% level on any profits

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Fuel tankers face long slog as Panama Canal drought reroutes flows

By Arathy Somasekhar HOUSTON (Reuters) – Oil tanker Cururo is taking the long way from Houston to Chile: sailing the length of South America’s Atlantic coast, across the Strait of Magellan and heading up the Pacific coast before discharging. The voyage could take 32 days and travel more than 10,000 nautical miles (18,520 km) before it ends next week, compared with about 23 days and less than 5,000 miles for a typical route through the Panama Canal. The odyssey is shipping’s new reality due to a severe drought in Panama that is expected to shift trade flows and push up

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Flows into AI funds wane as US rate worries weigh

By Bansari Mayur Kamdar (Reuters) – Inflows into exchange-traded funds (ETFs) tracking artificial intelligence (AI) companies have ebbed after their sharp run-up earlier this year, as investors fear persistently high U.S. interest rates will hurt company valuations. The Global X Robotics & Artificial Intelligence ETF received $1.8 million in net inflows in September after sharp outflows in the prior month, while the smaller ROBO Global Robotics & Automation Index ETF saw outflows of $14.3 million. By contrast, both funds received their highest monthly net inflows of 2023 in June, gaining $265.5 million and $29.74 million, respectively, according to Lipper data.

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China looks forward to discussions with US commerce chief as trade flows slow

By Joe Cash BEIJING (Reuters) -China is looking forward to in-depth discussions with the United States on resolving economic and trade issues when its commerce secretary, Gina Raimondo, visits next week, China’s commerce ministry spokesperson said on Thursday. Raimondo is due in Beijing and Shanghai for talks with government officials and U.S. business leaders, marking the latest in a recent series of high-level visits aimed at halting a slide in relations between the world’s two biggest economies. “We have noted that China and the U.S. have encountered some difficulties and challenges in bilateral trade and investment, which are related to

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Analysis-Italy’s Meloni faces reality check as migrant flows rise relentlessly

By Crispian Balmer and Angelo Amante ROME (Reuters) – Just as King Canute failed to hold back the seas, so Prime Minister Giorgia Meloni has floundered in her efforts to stop the flow of migrants to Italy since she took office last October. Despite pledges before last year’s national election that she would cut immigration, the number of people crossing the Mediterranean in a flotilla of often decrepit old boats has doubled over the past nine months. In addition, bowing to pressure from the business lobby, which is traditionally close to Meloni’s right-wing bloc, the government last week increased the

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China’s FX market stable, cross-border flows basically balanced – state media

SHANGHAI/SINGAPORE (Reuters) – Foreign investors were net purchasers of onshore yuan bonds in June, while expectations in China’s foreign exchange market remain stable and cross-border capital flows are basically balanced, a state media commentary said late Wednesday. The remarks by Financial News, a publication backed by the People’s Bank of China (PBOC), come as the Chinese currency has faced renewed downside pressure. The yuan is one of the worst-performing Asian currencies this year, knocked nearly 5% lower against the dollar by a slowdown in China’s economy and widening yield differentials with the United States. [CNY/] “Although volatilities in the yuan

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UN refugee chief calls for return to peacemaking to stem flows

By Duncan Miriri NAIROBI (Reuters) – The world needs to rediscover its ability to bring peace to various trouble spots in order to curb the growing flow of refugees, the head of the United Nations Refugee Agency (UNHCR) said on Tuesday. There are 110 million displaced people around the world, up from 103 million last year and half that number a decade ago. “The U.N. Security Council, the main international body for peace and security, is broken. They cannot agree on anything,” the U.N.’s High Commissioner for Refugees Filippo Grandi told Reuters in the Kenyan capital. “So we need to

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Explainer-How a Canada Supreme Court ruling could affect U.S.-Canada refugee flows

By Anna Mehler Paperny TORONTO (Reuters) – Canada’s Supreme Court on Friday upheld a border pact under which Canada and the United States send back asylum seekers crossing the land border, finding the agreement does not violate asylum seekers’ right to life, liberty and security of the person. But it sent the case back to a lower court to determine whether the contested agreement violates asylum seekers’ right to equal treatment under the law. The ruling came as Canada was taking steps to more tightly manage its border with the United States. In March the two countries amended the Safe

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Treasury: US banks have ‘substantial’ liquidity, deposit flows are stable

WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it was continuing to monitor market developments amid sharp drops in the shares of regional lenders PacWest Bancorp <PACW.O and Western Alliance Bancorp, but deposit flows were stable. “We continue to closely monitor market developments,” a Treasury official said. “The banking system has substantial liquidity and deposit flows are stable.” Shares of Los Angeles-based PacWest were down 60% after the lender confirmed it was exploring strategic options. Western Alliance’s stock was down 58.2%, despite a statement from the bank saying it had no unusual deposit outflows and had adequate liquidity. Experts

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Singapore imports of Russian naphtha surge as EU ban shifts flows

By Mohi Narayan and Matthew Chye NEW DELHI (Reuters) – Singapore’s imports of Russian naphtha nearly tripled in the first quarter of 2023, government data showed, after the European Union banned oil products imports from Russia. The Asia oil hub imported 741,000 tonnes of Russian naphtha in the period, accounting for about 23% of Singapore’s total imports of the refined product, a Reuters calculation based on Enterprise Singapore data showed. This jumped from about 261,000 tonnes imported in the fourth quarter last year, the data showed. The EU banned imports of Russian oil products from Feb. 5 and the Group

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Exclusive-Russian crude oil heads to UAE as sanctions divert flows

By Alex Lawler LONDON (Reuters) – The United Arab Emirates has been taking more cargoes of Russian crude oil, according to ship tracking data and trading sources, in another example of how Western sanctions on Russia have adjusted traditional energy trade flows. Russia has been selling both crude and refined products at discounted prices after international sanctions over its invasion of Ukraine, which Moscow calls a “special military operation”, left it with fewer buyers. The development also highlights growing cooperation between Russia and top Gulf oil producers, such as Saudi Arabia and the UAE. Gulf Arab states have resisted U.S.

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Factbox-How the EU ban on Russian crude affects oil flows

(Reuters) – Russian crude oil exports to the European Union slipped to around 600,000 barrels per day (bpd) in January as seaborne volumes dried up except to Bulgaria, International Energy Agency (IEA) data shows. The EU imposed a ban on maritime Russian crude oil imports from Dec. 5 and G7 countries set a price cap on Russian seaborne exports at $60 per barrel. Bulgaria has secured a two-year exemption from the EU ban, imposed over Russia’s full-scale invasion of Ukraine in February 2022. Imports via the Druzhba pipeline are exempt from the EU ban as well, but its volumes dropped

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January flows to emerging markets largest in two years – IIF

By Rodrigo Campos NEW YORK (Reuters) – Emerging market equities and debt attracted the largest monthly net inflow in January in two years as better conditions allowed for blockbuster debt issuance while upbeat sentiment funneled cash toward Chinese stocks, the Institute of International Finance said on Wednesday. The January figure of $65.7 billion net inflows outpaced the $30.9 billion for all of last year according to IIF data. Debt securities outside of China raked in $44.6 billion, the largest monthly figure on IIF records back to 2018. “The apparent slowdown in (developed market) interest rate hiking and a more favorable

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Oil flows on Druzhba pipeline suspended in parts of Eastern Europe

By Krisztina Than and Jan Lopatka BUDAPEST/PRAGUE (Reuters) – Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline has been temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. The extent of the disruption was not immediately clear, and came concurrent with an explosion in a village in eastern Poland near the Ukrainian border that raised alarm among NATO countries. Hungary’s MOL said its Ukrainian partner told the company that a Russian rocket hit a power station close to the Belarus border that provides electricity for a pump station, and this

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Eastward gas flows via Yamal-Europe pipeline rise; flows via Ukraine steady

LONDON (Reuters) – Eastbound gas flows via the Yamal-Europe pipeline from Germany to Poland rose on Wednesday while Russian supplies to Europe via Ukraine remained stable. Exit flows at the Mallnow metering point on the German border of the Yamal pipeline stood at 2,040,490 kilowatt hours (kWh) per hour between 0700 CET (0500 GMT) and 0800 CET (0600 GMT), up from 1,212,139 kWh/h at midnight, data from pipeline operator Gascade showed. Nominations for Russian gas into Slovakia from Ukraine via the Velke Kapusany border point stood at 36.7 million cubic metres (mcm), almost unchanged from the previous day, Ukrainian transmission

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Eastward gas flows via Yamal and Russia-EU flows via Ukraine steady

(Reuters) – Eastbound gas flows via the Yamal-Europe pipeline from Germany to Poland were steady on Tuesday after a brief halt on the previous day, while Russian supplies to Europe via Ukraine remained stable. Exit flows at the Mallnow metering point on the German border of the Yamal pipeline inched slightly higher to 1,213,963 kilowatt hours (kWh) per hour between 0700 CET (0500 GMT) and 0800 CET (0600 GMT), from 1,078,577 kWh/h earlier in the day, data from pipeline operator Gascade showed. Nominations for Russian gas into Slovakia from Ukraine via the Velke Kapusany border point stood at 36.7 million

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Greece-Bulgaria pipeline starts operations to boost non-Russian gas flows

SOFIA (Reuters) – Greece and Bulgaria started commercial operation of a long-delayed gas pipeline on Saturday which will help decrease southeast Europe’s dependence on Russian gas and boost energy security. The 182-km pipeline will provide a relief to Bulgaria, which has been struggling to secure gas supplies at affordable prices since the end of April, when Russia’s Gazprom (GAZP.MM) cut off deliveries over Sofia’s refusal to pay in roubles. Russia has decreased its gas deliveries to Europe after the West imposed sanctions on Moscow over its invasion of Ukraine, leaving European Union countries scrambling to secure alternative supplies amid surging

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Eastward gas flows via Yamal-Europe pipeline resume on Sunday -operator data

(Reuters) – Eastbound gas flows resumed on Sunday via the Yamal-Europe pipeline to Poland from Germany after a brief halt, data from pipeline operator Gascade showed. Exit flows at the Mallnow metering point on the German border were at 668,924 kilowatt-hours per hour (kWh/h) between 1700-1800 CET after remaining zero since 0600 CET, data showed. Flows stood at 665,593 kWh/h on Monday between 0200-0300 CET. (Reporting by Ashitha Shivaprasad in Bengaluru; Editing by Himani Sarkar)

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Russian gas flows to EU via Ukraine remain stable, Nord Stream stays shut

LONDON (Reuters) – Flows of Russian gas to Europe via Ukraine were stable on Tuesday morning, while the Nord Stream 1 pipeline from Russia to Germany remained shut and eastbound gas flows via the Yamal-Europe pipeline to Poland from Germany continued at low levels. Russian flows of gas via the Nord Stream 1 pipeline, which runs under the Baltic Sea to Germany, remained at zero on Tuesday after Russia scrapped a Saturday deadline to resume flows following maintenance. The pipeline historically supplied about a third of the gas exported by Russia to Europe but was running at only 20% of

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Exclusive-Russia’s Gazprom set to resume Nord Stream 1 gas flows as planned, sources say

MOSCOW (Reuters) – Russian energy giant Gazprom is poised to restart gas supplies via the Nord Stream 1 pipeline to Germany on schedule on Saturday after a three-day halt for maintenance, two sources familiar with Gazprom’s plans said on Friday. Nord Stream 1, which runs under the Baltic Sea to supply Germany and others, was running at 20% capacity even before flows were halted for three days this week for maintenance. Deliveries are due to resume on Saturday at 0100 GMT. “Supplies should proceed” as scheduled, one of the sources told Reuters. Moscow blames sanctions, imposed by the West after

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Oil flows through Druzhba to Czech Republic resume – pipeline operator

PRAGUE – Flows of Russian oil through the Druzhba pipeline to the Czech Republic resumed at 8 p.m. (1800 GMT) on Friday, Czech pipeline operator MERO said. Supplies via the pipeline were suspended to the Czech Republic, Hungary and Slovakia on Aug. 4 because Western sanctions prevented paying transit fees to Ukraine, Russian pipeline monopoly Transneft said on Tuesday. (Reporting by Jan Lopatka; Editing by Mark Porter)

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Ukraine resumes Russian oil flows to Hungary, Slovakia as bills settle

(Reuters) – Oil flows have resumed from Russia to Hungary and Slovakia via the Ukrainian section of the Druzhba oil pipeline, Ukraine’s Naftogaz said on Thursday, days after being suspended over payment issues. Naftogaz’s JSC Ukrtransnafta pipeline operator said it resumed operations upon receiving payment from Hungarian oil company MOL on Wednesday evening. Ukraine had halted Russian oil shipments via Druzhba on Aug. 4 after Western sanctions prevented it from receiving transit fees from Moscow. The suspension of pipeline flows on Tuesday affected Slovakia, Hungary and the Czech Republic as all rely heavily on Russian crude and have limited ability

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Sustainable fund flows drop sharply, but stay positive in Q2

By Cole Horton (Reuters) – Global sustainable funds saw net new deposits plummet last quarter as concerns about a looming recession weighed on investors, but they held up better than their traditional peers, a new report from researcher Morningstar Inc, showed on Thursday. Sustainable mutual funds and ETFs gathered $32.6 billion of net new money globally in the quarter ended June 30, a 62% drop from their first quarter inflows, according to Morningstar’s latest figures. [L2N2WV15V] The broader fund market suffered net withdrawals of $280 billion over the same period, after enjoying net inflows of $141 billion in the first

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Russia Throttles Gas Flows To Europe As Exports To China Hit Record Highs

Russia Throttles Gas Flows To Europe As Exports To China Hit Record Highs Jack McEvoy on July 25, 2022 Russian state-owned energy company Gazprom is cutting gas flows to Europe while stepping up its exports to China. “A new all-time high was reached for the daily volume of Russian gas exports to China via the Power of Siberia pipeline,” Gazprom said in a statement. The European Union is concerned that Russia could completely cut off gas exports ahead of winter and worsen Europe’s looming recession. Russian state-owned gas giant Gazprom announced Monday that it will cut gas flows to Europe

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Russia-EU gas flows through Nord Stream 1 plummet as maintenance begins

BERLIN/LONDON – Physical gas flows through the Nord Stream 1 pipeline from Russia to Germany plunged on Monday morning as maintenance of the pipeline got underway, operator data showed. Physical flows dropped to 439,720 kilowatt-hours per hour (kWh/h) on Monday, from 9 am to 10 am, compared with physical flows over 29 million kwh/h earlier in the morning and over most of the previous day. Nord Stream 1 started annual maintenance on Monday, with flows expected to stop until maintenance ends on July 21, but governments, markets and companies are worried the shutdown might be extended due to war in

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