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Ukraine in default according to Fitch and S&P

Aug 12 (Reuters) - Global rating agencies S&P and Fitch on Friday lowered Ukraine's foreign currency ratings to selective default and restricted default as they consider the country's debt restructuring as distressed. Earlier this week, Ukraine's overseas creditors backed the country's request for a two-year freeze on payments on almost $20 billion in international bonds.

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Egyptian church fire kills at least 41, most of them children- sources

* Fire broke out during gathering for Mass * Church located in city of Giza near Cairo * At least 45 people injured in blaze (Updates with funeral) By Ahmed Mohamed Hassan and Sayed Sheasha CAIRO, Aug 14 (Reuters) - An electrical fire swept through an Egyptian Coptic Christian church during Mass on Sunday, causing a stampede and killing at least 41 people, most of them children and many suffering from smoke inhalation.

Germany's finance minister says he opposes taxing 'excessive' profits

BERLIN, Aug 14 (Reuters) - Germany should not tax "excessive" company profits earned amid an economic and energy crisis as that would interfere with market forces, the finance minister said in an interview on Sunday when asked about the windfall levies imposed elsewhere in Europe. Italy and Britain are among those to introduce windfall taxes this year on energy firms that have benefited greatly from tight fuel supplies as state coffers emptied during the pandemic and costs to shelter the poorest

First ship carrying Ukraine wheat under UN deal docks in Turkey

ISTANBUL, Aug 14 (Reuters) - The first ship carrying Ukrainian wheat to be exported under a U.N.-brokered deal arrived in Istanbul on Sunday, the Joint Coordination Centre based in the Turkish city, said. The Belize-flagged vessel is the first to carry wheat from Ukraine through the Black Sea since Russia's invasion. The Sormovsky was loaded with 3,050 mt of wheat and had left Ukraine's port of Chornomorsk on Friday.

Egyptian church fire kills at least 41, most of them children- sources

(Corrects size of gathering) * Fire broke out during gathering for Mass * Church located in city of Giza near Cairo * At least 45 people injured in blaze By Ahmed Mohamed Hassan and Sayed Sheasha CAIRO, Aug 14 (Reuters) - An electrical fire swept through an Egyptian Coptic Christian church during Mass on Sunday, causing a stampede and killing at least 41 people, most of them children, security sources said.

Wall St Week Ahead-Soft landing hopes for U.S. economy brighten outlook on stocks

By Lewis Krauskopf NEW YORK, Aug 12 (Reuters) - Optimism is seeping back into the U.S. stock market, as some investors grow more convinced that the economy may avoid a severe downturn even as it copes with high inflation. The benchmark S&P 500 .SPX has rebounded about 15% since mid-June, halving its year-to-date loss, and the tech-heavy Nasdaq Composite .IXIC is up 20% over that time.
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Ruto pulls ahead in Kenya's presidential vote count as tempers fray

(Updates Reuters count) By Duncan Miriri and Katharine Houreld NAIROBI, Aug 14 (Reuters) - Kenya's Deputy President William Ruto has edged ahead in a tight presidential race, according to official results reported by Kenyan media on Sunday, as more riot police were deployed inside the national election tallying centre after scuffles and accusations by party agents.

Germany to give energy essentials priority by rail if Rhine disruption worsens

BERLIN, Aug 14 (Reuters) - Germany plans to give the transportation of materials and equipment essential for energy production priority on the country's rail networks should water levels on the Rhine fall further and hamper shipping by river, a draft decree shows. DB Netz, the rail network arm of railway operator Deutsche Bahn , has already rejigged usage conditions to give preference to trains carrying mineral oil products and hard coal for power generators as Germany tackles an energy crisis.

U.N.-chartered ship in Ukraine readying for journey to Africa

By Andrea Shalal YUZHNE, Ukraine, Aug 14 (Reuters) - The United Nations-chartered ship Brave Commander will depart Ukraine for Africa in coming days after it finishes loading more than 23,000 metric tonnes of wheat in the Ukrainian port of Pivdennyi, a U.N. official said. The ship, which arrived in the port near Odesa, will sail to Ethiopia via a grain corridor through the Black Sea brokered by the United Nations and Turkey in late July.

Switzerland could align with EU energy saving drive, energy minister says

ZURICH, Aug 14 (Reuters) - Switzerland could prevent an energy shortage by aligning with a European Union plan to cut gas use by 15% this winter, Energy Minister Simonetta Sommaruga told newspaper SonntagsBlick. European Union countries formally adopted the bloc's emergency plan to curb gas use on Friday in a bid to save fuel for a winter of uncertain Russian supplies.

Tropical depression Mulan triggers flash floods at Thai-Myanmar border towns

BANGKOK, Aug 14 (Reuters) - Heavy rains from Tropical depression Mulan caused flash floods on Saturday, with towns at the Thai-Myanmar border submerged after rising water levels breached an earthen dam in Myanmar's Shan State, local media reported. The flood water, which had mostly receded on Sunday, inundated more than 2,000 households in Mae Sai township in Thailand's northern Chiang Rai province as well as Myanmar's Tachilek border town, local media Thai PBS reported.

Saudi Aramco Announces Q2 Dividend Of $18.8 Billion

Aug 14 (Reuters) - SAUDI ARABIAN OIL CO 2222.SE : * Q2 DIVIDEND OF $18.8 BILLION TO BE PAID IN THE THIRD QUARTER * STRONG MARKET CONDITIONS DURING SECOND QUARTER DRIVE UP NET INCOME 22.7% FROM Q1 2022 * PROGRESS CONTINUES ON OIL AND GAS EXPANSION, AS WELL AS DEVELOPMENT OF LOWER-CARBON ENERGY SOLUTIONS * NET INCOME $48.4 BILLION Q2 / $87.9 BILLION

Saudi Aramco Q2 Profit Rises

Aug 14 (Reuters) - SAUDI ARABIAN OIL CO 2222.SE : * Q2 NET PROFIT AFTER ZAKAT AND TAX 181.64 BILLION RIYALS VERSUS 95.47 BILLION RIYALS YEAR AGO * Q2 SALES 562.07 BILLION RIYALS VERSUS 312.35 BILLION RIYALS YEAR AGO * QUARTER SAW HIGHER CRUDE OIL PRICES AND VOLUMES SOLD * QUARTER SAW HIGHER REFINING MARGINS * CAPITAL EXPENDITURE INCREASED BY 25% TO

Aramco CEO Says Working To Increase Production From Multiple Energy Source

Aug 14 (Reuters) - SAUDI ARABIAN OIL CO 2222.SE : * ARAMCO CEO SAYS WORKING TO INCREASE PRODUCTION FROM MULTIPLE ENERGY SOURCE * ARAMCO CEO SAYS TO INVEST IN THE RELIABLE ENERGY AND PETROCHEMICALS THAT THE WORLD NEEDS * ARAMCO CEO SAYS DEVELOPING LOWER-CARBON SOLUTIONS THAT CAN CONTRIBUTE TO THE BROADER ENERGY TRANSITION Further company coverage:

Factors to watch - August 14

DUBAI, Aug 14 (Reuters) - Here are some factors that may affect Middle East stock markets on Sunday. Reuters has not verified the press reports and does not vouch for their accuracy. INTERNATIONAL/REGIONAL * GLOBAL MARKETS-Global stocks rise, U.S. yields fall as inflation slows * Oil falls 2% on expectations that U.S. Gulf supply disruption will ease * PRECIOUS-Gold gains, set for weekly rise as U.S.

Vietnam considers $58.7-billion high-speed railway - govt

HANOI, Aug 14 (Reuters) - Vietnam is considering building a high-speed railway that runs along the country's length with a possible price tag of up to $58.7 billion, the government said on Sunday. The Southeast Asian country's transport ministry will next month submit a proposal to build the 1,545 km (960 miles) railway to the Politburo, the powerful decision-making body of the ruling Communist Party of Vietnam, the government said in a news release.

Ukraine targets Russian soldiers accused of threatening nuclear plant

* Russians threatening Zaporizhzhia are 'targets' -Zelenskiy * Humanitarian cargo due to set sail for Ethiopia By Natalia Zinets and Andrea Shalal KYIV, Aug 14 (Reuters) - Ukrainian President Volodymyr Zelenskiy has warned Russian soldiers who shoot at Europe's largest nuclear power station or use it as a base to shoot from that they will become a "special target" for Ukrainian forces.

UK Treasury proposes plan to cut extra £400 off fuel costs- Times

Aug 13 (Reuters) - UK finance minister Nadhim Zahawi has asked officials in the exchequer to work on a multibillion pound package that could lead to an extra 400 pound ($485.20) cut in energy bills, the Times reported on Saturday. According to the newspaper, the chancellor is working for a proposal for government-backed lending schemes for suppliers which would result in a reduced energy price cap from January.

More cash needed to save Britons from destitution in energy crisis - PM contender Sunak

LONDON, Aug 13 (Reuters) - Britain's energy crisis will push millions into destitution this winter unless the government hands out more cash to help struggling households pay fuel bills, Rishi Sunak, the trailing candidate in the contest to become Britain's next leader, said. Former finance minister Sunak is up against foreign minister Liz Truss to succeed Prime Minister Boris Johnson next month, when the winner will take charge of an economy facing prolonged recession and battling soaring energ

Trump's Mar-a-Lago resort posed rare security challenges, experts say

By Steve Holland and Karen Freifeld WASHINGTON, Aug 13 (Reuters) - The seizure of classified U.S. government documents from Donald Trump's sprawling Mar-a-Lago retreat spotlights the ongoing national security concerns presented by the former president, and the home he dubbed the Winter White House, some security experts say. Trump is under federal investigation for possible violations of the Espionage Act, which makes it unlawful to spy for another country or mishandle U.S.

Dollar-strapped Argentina announces incentives for oil and gas industry

BUENOS AIRES, Aug 13 (Reuters) - Argentina announced late on Friday a package of tax and customs benefits for the oil and gas industry meant to attract dollars to the South American nation, which is battling crippling inflation and a low level of foreign currency reserves. The measures had been announced on Thursday - and follow other incentives for the agribusiness and tourism sectors also meant to attract dollars - and were formalized on Friday by new Economy Minister Sergio Massa.



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