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Black Sea ships carrying grain hit insurance obstacle
Black Sea ships carrying grain hit insurance obstacle
by  AFP

The risk of bombing has made it virtually impossible to insure ships leaving Ukraine via the Black Sea, leaving the sector to find an alternative route, especially for grain. Ports along this alternative route are also under attack from Russians, according to Frederic Denefle, head of Garex, a French company specialised in marine risk insurance.

Russia upends global grain trade
Russia upends global grain trade
by  AFP

Russia has cemented its position as the world's top grain exporter with the help of a bumper harvest and cut-rate prices while its war in Ukraine has upended the market. He has also kept grain prices low to gain a competitive edge over other exporting nations and offered special prices to Egypt, which has also been a buyer of Ukrainian wheat.

China's Country Garden narrowly avoids default: Bloomberg
China's Country Garden narrowly avoids default: Bloomberg
by  AFP

Struggling Chinese developer Country Garden has made multi-million-dollar interest payments on two outstanding loans, reports said Tuesday, narrowly avoiding what would have been its first default. Country Garden told AFP it had no comment on the repayment, which was also reported by Chinese media.

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