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Banking

World Bank poised to host climate loss and damage fund, despite concerns

Local resident Tarusila Boseiwaqa walks along a sea wall that no longer protects homes from the intrusion of water at higher tides, as a rainbow forms over Serua Village, Fiji, July 14, 2022. REUTERS/Loren Elliott/File Photo Acquire Licensing RightsNov 4 - Countries moved a step closer on Saturday to getting a fund off the ground to help poor states damaged by climate disasters, despite reservations from developing nations and the United States.The deal to create a "loss and damage" fund was hailed as a breakthrough for developing country negotiators at...
Funds

Argentina, Brazil seek 12.5 billion euros of financial aid in EU-Mercosur talks

European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo Acquire Licensing RightsMADRID/BRASILIA, Oct 20 (Reuters) - Argentina and Brazil are requesting 12.5 billion euros ($13.2 billion) in financial aid from the European Union in talks to conclude a trade agreement with South America's Mercosur bloc, according to a document seen by Reuters.Three EU and South American diplomats confirmed the Argentine request, which is backed by Brazil, in the rotating presidency of the four-nation Mercosur.Argentina and Brazil have also pushed to exclude...
Economy

Banks call for clarity on Britain’s investment path to net-zero economy

A sign directing towards electric vehicle charging points is seen in a car park in Manchester, Britain, September 8, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsUK Finance issues series of policy recommendationsFirst major position paper on net-zero transitionSays UK needs a stable policy environmentLONDON, Oct 20 (Reuters) - Britain needs to better track funds going into green investments to assess how much is needed from the private sector and should consider targeted tax changes to encourage sustainable projects, banking industry body UK Finance said.In its first major position paper on...
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