Bloomberg European Union leaders said they told China in a virtual summit that they expect Beijing to help end Russia’s war in Ukraine and at the very least not to interfere with international sanctions imposed on Moscow. “We expect China, if not supporting the sanctions, at least to do everything not to interfere in any kind,” European Commission President ...

  Bloomberg Sri Lanka’s government said the protesters’ violent clashes with police outside President Gotabaya Rajapaksa’s home were a threat to the revival of the tourism sector, appealing for calm amid widespread anger over surging costs and power cuts stemming from a foreign exchange crisis. “Today we have a big problem with foreign exchange. One solution is to get more ...

  Bloomberg Kenya’s Supreme Court scuttled President Uhuru Kenyatta’s push to reshape the structure of the government, effectively halting plans to hold a referendum on the proposed changes. The judgment upheld rulings by two lower courts that the president can’t seek constitutional amendments through a popular initiative, meaning Kenyatta acted illegally in spearheading the proposals. “The Constitution of Kenya Amendment ...

  Bloomberg Bank of Japan (BOJ) Governor Haruhiko Kuroda is determined to stick with targeting long-term bond yields near zero, even as it leaves him increasingly at variance with global peers and propels a depreciating exchange rate. At stake for Kuroda is the credibility of his five-year-old policy framework, designed to secure sustained 2 percent inflation. The BOJ has been ...

  Bloomberg Commerzbank AG warned that risks to its outlook have increased following Russia’s invasion of Ukraine and the sanctions imposed on Moscow. Geopolitical risks could impact economic growth through higher prices for raw materials and sanctions, while Russian “countersanctions” might affect Commerzbank’s portfolios, Germany’s second-biggest listed lender said in its annual report. “There are numerous risk factors that could ...

  Bloomberg UK credit card borrowing jumped at its strongest pace in records dating back to 1993, adding to evidence that a surge in the cost of living is straining household finances. Borrowing on charge cards rose 1.5 billion pounds ($2 billion) in February alone, the Bank of England said. That drove up the value of unsecured credit including personal ...

  Bloomberg JPMorgan Chase & Co’s fledgling digital bank is going after more customers in the UK with a new savings account. Chase, which launched in the UK last September, will offer a variable interest rate of 1.5%, the company said. That’s more than double the rate offered by similar online banks including Goldman Sachs Group Marcus. Deposits will be ...

  Bloomberg Ecobank Transnational Inc, the pan-African lender with operations in 35 countries, foresees slower growth this year as a devaluation of local currencies pushes up its costs and make it more difficult for its clients to do business. The Togo-based lender predicts revenue growth will slow to 1% to 3% this year, from 5% in 2021, while loan extensions ...

  Bloomberg The Philippine central bank, which held interest rates steady, warned inflation may breach its target this year and that it stands ready to respond to a build up in price pressures. Bangko Sentral ng Pilipinas left the benchmark rate at a record low 2%, as predicted by all 23 economists in a Bloomberg survey. Its last rate move ...

  Bloomberg The Czech Republic is likely to extend its aggressive campaign of interest-rate increases as the war in Ukraine fuels already rampant inflation and overshadows risks to economic growth. The Czech National Bank will raise the key rate by at least a half-point to 5%, according to a large majority of analysts in a Bloomberg survey, adding to a ...