News in Brief
Iran’s gas exports to Iraq up
FARS – Iraq has increased its gas imports from Iran to 30–40m m3/d (1.06–1.41b cfd) this month, up from 10m m3/d (350m cfd) earlier this year, according to Ali Ahmed, CEO of Iraq’s Ministry of Electricity’s Central Electricity Generation Company.
Without Iranian gas and electricity supplies, Iraq would suffer even more crippling blackouts than it already does, but supplies have been increasingly unreliable due to Iran’s own rising demand.
First Republic prepares to be placed under receivership
REUTERS – The US Federal Deposit Insurance Corporation (FDIC) is preparing to place First Republic Bank (FRC.N) under receivership imminently, a person familiar with the matter said on Friday, sending shares of the lender down nearly 50% in extended trading.
The US banking regulator decided the troubled regional lender’s position has deteriorated and there is no more time to pursue a rescue through the private sector.
Ukraine protests Polish curbs on
farm imports
AFP – Ukraine on Saturday said it had formally protested to Poland and the EU on “unacceptable” bans by Warsaw on Ukrainian agricultural produce transiting through its territory.
Several countries bordering Ukraine — including its main ally Poland — imposed temporary trade barriers on Ukrainian grain and other goods after protests from local farmers following a slump in prices.