Bloomberg The Pentagon is struggling to get China to resume military-to-military talks, according to a senior US defense official, underscoring continuing tensions between the two sides despite last year’s meeting between Presidents Joe Biden and Xi Jinping. China cut off talks with the US on military, climate change and other issues after then-House Speaker Nancy Pelosi’s visit to Taiwan in ...

  Bloomberg Indians view the US as the biggest military threat after China and place greater blame on Nato and Washington than on Vladimir Putin for his war in Ukraine, according to a new survey. Some 43% of the 1,000 respondents perceived China — with whom India has a long-lingering border dispute and has seen tensions flare again since 2020 ...

Bloomberg Russia will create new commands near Europe as it expands its military to 1.5 million people amid deepening tensions with the US and its allies over the Kremlin’s invasion of Ukraine. New structures in the regions around Moscow, St. Petersburg and Karelia on the border with Finland will be created under the program, Defense Minister Sergei Shoigu told commanders ...

Bloomberg Chancellor Olaf Scholz has put forth Boris Pistorius to be Germany’s new defense minister, filling a critical role in his cabinet after Christine Lambrecht resigned on Monday following a series of missteps. In a statement, Scholz praised Pistorius’s “strength and calmness,” and singled out his experience with defense policy. The 62-year-old is a veteran Social Democrat who has served ...

  Bloomberg Citigroup Inc and Bank of America Corp (BofA) have done more to support the expansion of fossil-fuel companies than any other lenders claiming to target net-zero financed emissions, according to a new analysis comparing industry pledges to action. The Wall Street firms, which joined the Net Zero Banking Alliance when it was founded in April 2021, have since ...

  Bloomberg Somalia’s central bank aims to replace the only high-value currency note still in use by next year to deal with counterfeit bills, excess cash in circulation and inflation. The redesigned 1,000-shilling notes will replace those printed before the civil war broke out in 1991, central bank Deputy Governor Ali Yasin Wardheere said in an interview in Mogadishu, the ...

  Bloomberg China will avoid unleashing massive monetary stimulus into the economy this year as it seeks to strike a balance between boosting growth, creating jobs and maintaining price stability, a central bank deputy governor said. “We will ensure overall social demand gets powerful support. Meanwhile, the magnitude will be reasonable and appropriate and we will avoid flooding the economy ...

  Bloomberg The asset management unit of Goldman Sachs Group Inc. has drawn in over $1.6 billion in client cash for a fund registered under the European Union’s toughest ESG rules. The fund, Horizon Environment & Climate Solutions I, closed after exceeding its initial target of “close to” $1.6 billion, Goldman Sachs Asset Management (GSAM) said. It’s listed as an ...

  Bloomberg The Reserve Bank of India (RBI) may pause its rate hike cycle as early as the next monetary policy decision in February, according to Ankita Pathak, an economist at DSP Investment Managers Pvt. With India’s headline inflation for the October-December period falling below the RBI’s estimate, the central bank could reevaluate its strategy amid an ongoing global growth ...

  Bloomberg Southeast Asian central banks look like they are close to done fighting inflation using interest rates, with economists seeing the tightening cycle ending after 25- to 50-basis points of moves in the coming months. Policymakers in Indonesia, Philippines and Thailand will each raise borrowing costs by a total half-point in the coming months before reaching their peak rates, ...