US and Ukraine in talks on drone investment deal, Ukrainian PM says
The deal would also lead to the U.S. purchasing drones from Ukraine, Svyrydenko said as she spoke to reporters alongside several other new government ministers in Ukraine's capital.
Separately, economy minister Oleksy Sobolev said the board of a joint U.S.-Ukrainian investment fund set up earlier this year will meet for the first time by the end of the summer.
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ITV News
15 minutes ago
- ITV News
Why are Ukrainians protesting President Zelenskyy's anti-corruption bill?
Crowds of protesters have gathered in Kyiv and other cities across Ukraine to urge President Volodymyr Zelenskyy to reject changes to the law that would threaten anti-corruption measures in the country. It is the first major protest against the government in more than three years of war. Zelenskyy, who was elected in 2019 on a pledge to rid his country of graft, signed a bill reducing the autonomy of two Ukrainian anti-corruption bureaus on Tuesday. Here, ITV News explains what the bill does and why Ukrainians are protesting against it. What is the bill, and why is it so controversial? The controversial bill removed the independence of two key anti-corruption agencies - the national anti-corruption bureau, known as Nabu, and the anti-corruption prosecutor's office. It will mean Ukraine's prosecutor general, who is a political appointee, will have new authority over which investigations and cases are pursued. The agencies themselves and critics say the changes could significantly weaken their independence and give President Zelenskyy's circle more influence over investigations. Despite public outrage, President Zelenskyy signed the bill into law on Tuesday. Why are people protesting the changes? Fighting entrenched corruption is seen as crucial for Ukraine's bid to join the European Union and maintain access to billions of dollars in Western aid. In a post on X, the EU's Enlargement Commissioner Marta Kos called the recent vote in Ukraine's parliament 'a serious step back.' Some protesters have accused Ukraine's leadership of putting loyalty and personal connections ahead of stopping corruption. 'Those who swore to protect the laws and the Constitution have instead chosen to shield their inner circle, even at the expense of Ukrainian democracy," said Oleh Symoroz, a veteran at one of the protests. 'Instead of setting an example of zero tolerance for corruption, the president is using his power to take control of criminal cases involving his allies." What has Zelenskyy said? On X, President Zelenskyy defended the changes that had been made, saying the agencies needed to be cleared of "Russian influence." The changes to the law came a day after Kyiv's domestic security agency arrested two officials from one of the anti-corruption organisations (Nabu) on suspicion of ties to Russia. President Zelenskyy continued: "It is important that the Prosecutor General is determined to ensure that in Ukraine the inevitability of punishment for those who go against the law is actually ensured. This is what Ukraine really needs. "The cases that have been lying dormant must be investigated. For years, officials who have fled Ukraine have been casually living abroad for some reason – in very nice countries and without legal consequences – and this is not normal."
Reuters
16 minutes ago
- Reuters
Rupee dips but firmer yuan, exporter dollar sales cushion losses
MUMBAI, July 23 (Reuters) - The Indian rupee ended marginally weaker on Wednesday with the strength in the Chinese yuan and exporter activity helping the currency hold above a psychologically important support level. The rupee closed at 86.4075 per U.S. dollar, down slightly from its close at 86.3675 in the previous session but managing to hold above the 86.50 support level. The offshore Chinese yuan rose to a near three-week high while the dollar index was a tad lower at 97.4. Dollar sales from a large private bank and exporter activity also helped the rupee contain its losses on the day, alongside positive regional cues, a trader at a state-run bank said. India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab closed higher by about 0.6% each, tracking gains in global equities that were buoyed by hopes of easing trade tensions after a deal between the U.S. and Japan. "Equity markets globally are rallying on the view that deals reduce uncertainty," ING said in a note. U.S. President Donald Trump also announced a trade agreement with the Philippines, released terms of a previous deal with Indonesia on Tuesday and said that EU representatives were coming for trade negotiations on Wednesday. Officials from China and the U.S. are also expected to meet next week to discuss an extension to the deadline for negotiating a trade deal. For India, though, the prospects of a trade deal before the August 1 deadline have dimmed, with talks deadlocked over tariff cuts on key agricultural and dairy products. Foreign portfolio outflows and the lack of an outcome on trade negotiations have maintained pressure on the rupee, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities. Parmar expects the rupee to decline towards 86.70 in the near-term.
Reuters
21 minutes ago
- Reuters
Safe-haven gold dips as US-Japan trade deal eases some uncertainty
July 23 (Reuters) - Gold prices fell on Wednesday as a U.S.-Japan trade deal announced by U.S. President Donald Trump lifted risk appetite, while higher Treasury yields added further pressure. Spot gold was down 0.2% at $3,425.58 per ounce, as of 1010 GMT, after hitting its highest point since June 16 earlier in the session. U.S. gold futures also slipped 0.2% to $3,437.90. Trump struck a trade deal with Japan that lowered tariffs on auto imports and spared Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans. "Spot gold is paring some of its gains as the U.S.-Japan trade deal diluted demand for safe havens. The U.S. dollar's slight rebound is also weighing on bullion, though it's only natural that bullion bulls take a breather after the 3-day rally," said Han Tan, chief market analyst at The U.S. dollar index (.DXY), opens new tab steadied against its rivals after three straight sessions of losses, while benchmark 10-year U.S. Treasury yields rebounded from near-two-week lows. Higher bond yields increase the opportunity cost of holding non-yielding bullion, while a stronger dollar makes gold more expensive for holders of other currencies. U.S. and Chinese officials will meet in Stockholm next week to discuss an extension to the deadline for negotiating a trade deal, U.S. Treasury Secretary Scott Bessent said. Investors are also focussed on the U.S. Federal Reserve's policy meeting scheduled for July 29-30, with market expectations that rates will be held steady. Elsewhere, spot silver rose 0.2% to $39.37 per ounce, its highest level since late September, 2011. "Silver's supply-demand fundamentals are attractive and warrant a re-rating of prices higher and now that it is at a fresh 14-year-high, it remains to be seen whether the conviction is sufficient to breach the psychologically important $40 level," independent analyst Ross Norman said. Platinum rose 0.2% to $1,444.40 and palladium gained 1% to $1,286.93.
