March, 2022

• 18 March

  Ukraine war spreads hunger, shrinks food rations

  

  Bloomberg Russia’s invasion of Ukraine has driven commodity prices higher, dealing a double blow to global hunger: more people in need, and smaller portions to feed them. The attack on Ukraine, known as the breadbasket of Europe, has pushed already elevated crop prices to unprecedented heights. That’s accelerating food insecurity worldwide, including in Ukraine itself. With energy bills also accelerating, ...

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• 18 March

  Bulgaria expels 10 Russian diplomats, said ministry

    Bloomberg Bulgaria expelled 10 Russian diplomats in an unprecedented move that underscored strained relations with one of the Kremlin’s closest allies within the European Union. The diplomats were declared personae non gratae for carrying out activities that contradicted to the Vienna Convention governing diplomatic relations, the Foreign Ministry in Sofia said in a statement, without providing further details. They ...

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• 18 March

  HSBC announces ‘phase down’ of funding for fossil-fuel clients

  

    Bloomberg HSBC Holdings Plc promised to “phase down” its financing of the fossil fuel industry, sending a warning to oil and gas clients as the bank works toward its target of net-zero emissions. The step is in line with “what is required to limit the global temperature rise to 1.5 degrees celsius,” HSBC said. Like most of its top-tier ...

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• 18 March

  Weaker yen likely to prompt BOJ message shift, says ex-official

  

  Bloomberg A further depreciation of the yen won’t be good for Japan’s economy and may prompt a shift in the central bank’s messaging, according to a former Bank of Japan (BOJ) official, speaking after the currency set a fresh low of more than five years. “The yen has already moved a lot compared with last year, so a further weakening ...

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• 18 March

  Malaysia and Philippines central bankers stick to caution on rates

  

    Bloomberg Southeast Asian central bankers are keeping a cautious approach toward monetary tightening, as the fallout from the war in Ukraine stokes risks to global growth and inflation. Bank Negara Malaysia will continue gauging the “appropriate degree of monetary policy accommodation to make sure this economic recovery is much more durable,” Governor Nor Shamsiah Mohd Yunus said in a ...

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• 18 March

  JPMorgan processed Russia bond payments, sent money to Citi

  

    Bloomberg JPMorgan Chase & Co has processed funds that were earmarked for interest payments due on dollar bonds issued by the Russian government and sent the money on to Citigroup Inc. as bondholders waited for a second day to receive the $117 million. JPMorgan was the correspondent bank Russia used to send the payment to Citigroup, which is acting ...

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• 18 March

  Sberbank gets license to issue digital assets

    Bloomberg Russia’s central bank granted Sberbank PJSC, the nation’s biggest lender, a license to issue and exchange digital assets. Using Sber’s platform, companies can issue their own digital assets to attract market investments, buy digital assets through Sber’s system, or make other digital assets transactions, the bank said in a statement. “We are just starting our work with digital ...

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• 18 March

  US futures decline, stocks steady as crude advances

  

    Bloomberg US equity futures slipped on Friday and Asian stocks were steady as traders weighed mixed signals from the peace talks between Russia and Ukraine that are pushing oil further above $100 a barrel. European contracts wavered and those for the S&P 500 and Nasdaq 100 dipped following the best three-day rally in US shares since 2020. An Asian ...

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• 18 March

  First SPAC listed by Hong Kong has slow start in trading debut

  

  Bloomberg Aquila Acquisition Corp, the first special purpose acquisition company to list in Hong Kong, had a slow debut on Friday as few investors are qualified to trade the shares. The SPAC closed 3.2% lower at HK$9.68 after a session marked by only a few trades. The firm backed by CMB International Asset Management and AAC Mgmt Holding raised about ...

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• 18 March

  UAE calls for peaceful, urgent solution to Ukraine conflict

  

    MOSCOW / WAM His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, met on Thursday with Sergey Lavrov, Minister of Foreign Affairs of the Russian Federation, in Moscow. They discussed cooperation between the two countries and ways to enhance the bilateral strategic partnership in various fields. They exchanged views on key developments and ...

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