March, 2023

• 17 March

  Pakistan’s ex-PM Imran Khan vows to appear in court after street battles

  

  BLOOMBERG Former Pakistan Premier Imran Khan vowed to turn up in court on Saturday after skipping hearings, potentially setting the scene for further political unrest in a country that’s at risk of a default. Supporters battled with security forces outside the former cricket star’s private residence in Lahore this week as police attempted to arrest Khan. He faces charges of ...

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• 17 March

  Kim Jong-Un says ICBM launch was to ‘strike fear’ in enemies

  

  BLOOMBERG North Korea launched the most powerful ballistic missile in its arsenal just before a summit between Japan and South Korea, with leader Kim Jong Un saying he wanted to “strike fear into the enemies,” its state media said. Kim was on hand with his preteen daughter to watch the launch of the Hwasong-17 intercontinental ballistic missile. The test was ...

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• 17 March

  Turkey set to allow Finnish Nato entry

  

  BLOOMBERG Turkey is nearing ratification of Finland’s accession into Nato, which would bring the military alliance a step closer to welcoming its 31st member as the effects of Russia’s invasion of Ukraine spread across the European security landscape. President Recep Tayyip Erdogan and Finland’s head of state, Sauli Niinisto, started a meeting in Ankara without speaking to reporters. The Turkish ...

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• 17 March

  Germany to send minister to Taiwan amid China tensions

  

  BLOOMBERG Germany will send a federal minister to Taiwan for political talks for the first time in 26 years next week, a trip which could anger the government in Beijing at a time of growing tensions between China and Europe. Bettina Stark-Watzinger, who oversees the education and research portfolios in Chancellor Olaf Scholz’s ruling coalition, plans a two-day trip to ...

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• 17 March

  Hong Kong lures Kaiko in its push to build crypto hub

  

  BLOOMBERG Cryptocurrency market data provider Kaiko plans to relocate its Asian headquarters to Hong Kong from Singapore, drawn by the city’s push to establish a global hub for the digital-asset industry. Hong Kong’s pro-crypto policy pivot and emergence from Covid-related curbs contributed to the Paris-based company’s decision, Chief Executive Officer Ambre Soubiran said in an interview. Kaiko feeds data to ...

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• 17 March

  UBS, Credit Suisse oppose idea of forced combination

  

  BLOOMBERG UBS Group AG and Credit Suisse Group AG are opposed to a forced combination, even as scenario planning for a government-orchestrated tie-up continues, according to people with knowledge of the matter. UBS would prefer to focus on its own wealth-centric standalone strategy and is reluctant to take on risks related to Credit Suisse, the people said, asking not to ...

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• 17 March

  ECB policymakers call for more interest rate hikes

  

  BLOOMBERG A trio of hawkish European Central Bank (ECB) policymakers came out in force to restate the case for hiking interest rates further, once financial-market volatility subsides. In the wake of a 50 basis-point increase accompanied by no clear signal on future moves, governors from Estonia, Lithuania, and Slovakia suggested the economy still needs another phase of tightening after global ...

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• 17 March

  Banks borrow $164.8 billion from Fed in rush to backstop liquidity

  

  BLOOMBERG Banks borrowed a combined $164.8 billion from two Federal Reserve backstop facilities in the most recent week, a sign of escalated funding strains in the aftermath of Silicon Valley Bank’s (SVB) failure. Data published by the Fed showed $152.85 billion in borrowing from the discount window  — the traditional liquidity backstop for banks — in the week ended on ...

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• 17 March

  First Republic falls as investors assess aid

  

  BLOOMBERG First Republic Bank shares fell again on Friday, set for their worst week ever, as sentiment around the lender remained fragile even after proposals for $30 billion of aid from Wall Street’s biggest banks. Shares in First Republic fell as much as 15% in US premarket trading, underperforming fellow regional banks, having already fallen by a record 60% so ...

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• 17 March

  US futures steady, bonds gain as bank angst lingers

  

  BLOOMBERG US equity-index futures were steady on Friday and Treasuries gained, capping a tumultuous week for global markets amid lingering concern that the financial turmoil which has roiled bonds and stocks is not over. Contracts on the S&P 500 fluctuated after the index rallied 1.8% as larger banks threw a lifeline to First Republic Bank, the latest US lender to ...

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