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The Latest Breaking News from SWIFT

Swift and Chainlink exploring how to connect financial institutions to blockchains

The experiments are to determine whether private and public blockchains can play nice.

Fortune

Russia signals end to Black Sea grain deal in July if demands not met

Russia signaled on Thursday that if demands to improve its grain and fertilizer exports are not met then it will not extend beyond July 17 a deal allowing the safe wartime export of the same products from three Ukrainian Black Sea ports.

Reuters

UN concerned by lack of grain ships going to one Ukrainian port

The United Nations expressed concern on Monday that Ukraine's Black Sea port of Pivdennyi (Yuzhny) has not received any ships since May 2 under a deal allowing the safe wartime export of grain and fertilizer.

Reuters

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African leaders to broach thorny issue of paying Russia for fertilizers in Kyiv and Moscow talks

A delegation of six African leaders set to hold talks with Kyiv and Moscow aim to “initiate a peace process” but also broach the thorny issue of how a heavily-sanctioned Russia can be paid for the fertilizer exports Africa desperately needs, a key mediator in the talks said

The Independent UK

House advances bill that could provide billions of dollars for new water projects and fixing aging infrastructure

The bill aims to create a water supply four times the size of Lake Livingston, one of the state’s largest reservoirs. But it may still be a “drop in the bucket” compared to the state’s needs.

The Texas Tribune

Private bus owners in Kerala plan strike

Private bus owners in Kerala are planning a strike to press for their demands, including an increase in students’ ticket fares

The Hindu

Swift's sales hit record £300m as East Yorkshire leisure firm capitalises on staycation demand

Caravans, motorhomes and holiday homes are breaking records for Hull-area manufacturer

Birmingham Post

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Exclusive-JPMorgan could process another 40 Russian grain export payments - sources

U.S. bank JPMorgan Chase Co could process another 40 Russian grain export payments, two sources said, as the United Nations seeks to save a deal allowing safe Black Sea exports of Ukrainian grain that Moscow has threatened to quit on May 18.

Reuters

India, Russia to explore possibility of accepting RuPay and Mir cards

India and Russia will explore the possibility of accepting RuPay and Mir cards in each other’s country for hassle-free payments amid sanctions imposed by the West on Moscow.

The Hindu

Russian envoy says no breakthrough on grain deal, Ukraine says Moscow blocking ships

Russia's envoy to the United Nations in Geneva on Wednesday said "no real progress" had been achieved in resolving issues raised by Moscow over the Black Sea grain deal, which is set to expire next month.

Reuters

Exclusive-US allowed JPMorgan payment route for Russian grain export

The United States gave JPMorgan permission to process payments for agricultural exports via the Russian Agricultural Bank, but the arrangement was no substitute for reconnecting the bank to the SWIFT system, two Russian sources told Reuters.

Reuters

The simmering movement towards de-dollarisation

In the hopes of pressuring Russia to capitulate, the United States implemented a series of punitive sanctions last year, freezing a whopping $300 billion of Russia's foreign currency reserves and booting major Russian banks from the interbank messaging service used for international payments, SWIFT.

Bangkok Post

Factbox-What are the deals on Ukraine, Russia grain exports?

The extension of a deal allowing the safe Black Sea export of Ukrainian grain and fertilizers beyond May 18 hangs in the balance after Russia issued a list of demands linked to a related agreement on its own such exports.

Reuters

NSW Swifts break through for first Super Netball win

The NSW Swifts have overrun the Queensland Firebirds in the fourth quarter to score a 74-71 win in Romelda Aiken-George's milestone game.

AAP

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Caixin Global

Brazil Joins China’s Drive to Boost Yuan’s Global Use

Banco Bocom BBM becomes first lender in South America to join China’s yuan cross-border payments system CIPS, weeks after ICBC’s Brazilian branch was appointed the country’s yuan clearing bank

Al Jazeera

‘No limits partnership’: Xi and Putin’s economic priorities

Chinese and Russian leaders expected to double down on economic cooperation during three days of meetings in Moscow.

Reuters

Russia sets grain deal conditions, Putin suggests free grain for Africa

Russia laid out conditions on Monday for agreeing to any further extension of the Black Sea grain deal, and President Vladimir Putin said that Moscow could send free grain to African countries if those conditions were not met.

Birmingham Post

Swift gears up to feed the 1,500 as new staff facilities added to fuel leisure growth ambition

£2m cafe addition sees post-pandemic site investment top £10m for leading leisure home and vehicle producer

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Birmingham Post

Swift fires up the excitement for adventure with TV debut

East Yorkshire manufacturer focuses on creating fabulous memories in 'Every Swift has a Story' campaign

Al Jazeera

Will Russia sanctions dethrone ‘King Dollar’?

A flood of nations is trying to cut dependance on the dollar, fearing ‘weaponisation’ by the US. But it won’t be easy.

AAP

Technology company accused of price fixes at mine sites

The corporate watchdog has launched legal action against a technology company over alleged price fixing and tender rigging at Rio Tinto and FMG mine sites.

Al Jazeera

What’s behind Iran and Russia’s efforts to link banking systems?

Tehran and Moscow have shown serious political will to expand economic ties, but challenges remain.

Asharq Al-Awsat

Iraqi PM Says Banking Reforms Reveal Fraudulent Dollar Transactions

Iraq's premier said Tuesday that new banking regulations had revealed fraudulent dollar transactions made from his country, as the fresh controls coincide with a drop in the local currency's value. Iraq has in recent months been making efforts to ensure its banking system is compliant with the international electronic transfer…

Birmingham Post

Recruitment agency opens new Black Country office

Swift Temps has moved to new premises as part of its growth plans

Asharq Al-Awsat

Iran, Russia Link Banking System Amid Western Sanctions

A senior Iranian official said Monday that Iran and Russia have connected their interbank communication and transfer systems to help boost trade and financial transactions as both Tehran and Moscow are chafing under Western sanctions. Since the 2018 reimposition of US sanctions on Iran after Washington ditched Tehran's 2015 nuclear…

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