Reuters Daily Briefing : MISSING TITANIC SUB, US-India ties with defense and trade agreements, World Bank to tackle natural disasters, WAR IN UKRAINE

 

Daily Briefing

Search intensifies for Titanic sub with only hours of oxygen left, Biden and Modi strengthen US-India ties with defense and trade agreements, and the World Bank lays out its plans to tackle natural disasters.   Plus, the Africans fighting on Russia's front line in Ukraine.   By Edson Caldas

Today's Top News

The Titan submersible, operated by OceanGate Expeditions, dives in an undated photograph. OceanGate Expeditions/Handout via REUTERS

MISSING TITANIC SUB A multinational search team crisscrossed the sea and skies above the century-old wreck of the Titanic for a fifth day, seeking a tourist submersible that went missing with five people aboard and was just hours away from the presumed end of its air supply. Experts raised safety concerns in 2018 about the submersible. The $250,000-a-head expedition that vanished this week is just one example of extreme tourism that is becoming more commonplace for those who can afford it. We took a look at some of the other exploits that can be attempted and why this missing sub is capturing the world’s imagination. WAR IN UKRAINE Ukrainian missiles struck the Chonhar road bridge connecting Crimea with Russian-held parts of the southern Kherson region overnight, Russian-appointed officials said. The so-called "gate to Crimea" is one of a handful of links between Crimea - which Moscow annexed from Ukraine in 2014 - and mainland Ukraine. German Chancellor Olaf Scholz pledged long-term security assurances to Ukraine but dashed Kyiv's hopes for a swift accession to NATO. Member countries are squabbling over what to offer Ukraine when the alliance's leaders meet in Vilnius in July. AROUND THE WORLD US President Joe Biden aims to herald the start of a stronger US-Indian relationship by announcing a defense and trade agreements with Indian Prime Minister Narendra Modi. The Biden administration will also make it easier for Indians to work in the US, according to three people familiar with the matter. Six people remained in a critical condition and one person was believed still missing one day after a blast ripped through a street near Paris' historic Latin Quarter, the city's public prosecution office said. Authorities have not yet said what caused the explosion. Weeks after Uganda enacted one of the most draconian anti-LGBT laws on Earth, Kenya could be poised to follow suit with a similarly formulated bill that punishes gay sex with prison or even death in some cases, according to a draft of the law and two lawmakers backing it in parliament.

Business & Markets

The Swiss National Bank increased its policy rate and the rate it charges on sight deposits to 1.75% from the 1.5% level set in March, its fifth increase in a row since the bank started its hiking cycle last year. Separately, the SNB also said it was crucial to draw lessons from the Credit Suisse crisis and consider measures that would prevent such events in the future. In more news coming from central banks, the Bank of England was set to raise interest rates for a 13th time in a row this morning, a day after inflation data came in higher than expected. Turkey's central bank was also expected to raise its policy rate in a signal that President Tayyip Erdogan has accepted some steps toward economic orthodoxy to address inflation. The World Bank chief will announce a raft of measures to aid countries hit by natural disasters, including a pause in payments to the lender, as world leaders gather in Paris to give impetus to a new global finance agenda. Some 40 leaders will be joined in the French capital by international organizations, civil society and private sector actors at the Summit for a New Global Financial Pact. Netflix co-CEO Ted Sarandos pledged that its bumper investment in South Korean content would not bypass young local talent, after calls by some lawmakers for the streaming giant to share more profits with creators. South Korea has created some of the company's biggest shows, spurring it to announce a $2.5 billion investment in local content in April.

The Africans fighting on Russia’s front line in Ukraine

Nemes Tarimo, from Dar es Salaam, traveled to Russia as a student. This picture from his Facebook account dates from 2015.

Reuters traced the stories of three African men who traveled to Russia in hope of advancement, then ended up as mercenaries on the battlefields of Ukraine. The three men’s stories tell of soaring ambitions and broken dreams. They also show the strength of the bond some young Africans feel for Russia, which is untarnished by an imperial past in a continent where it had no lasting colonies. Read the full special report here. Giulia Paravicini in Nairobi also talks about the story on today's Reuters World News podcast.

And Finally...

Alpaca Fureai Land's Shinya Ide and Shion Ito walk alpacas Akane and Satsuki in Tokyo, June 21, 2023. REUTERS/Kim Kyung-Hoon

The quiet of early morning streets in one downtown Tokyo neighborhood is broken by joggers, parents with children in strollers - and a pair of alpacas, out for their daily walk. On leads held by their keepers, Akane and Satsuki trot down streets before heading back to their home at an indoor petting zoo, where they spend time with visitors who pay to pet them, hug them and bury faces in their fleece. Read more here: Tokyo residents find comfort in fluffy, street-strolling alpacas

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