March, 2022

• 14 March

  White House reaches out to social-media influencers on Ukraine

  

  Bloomberg White House officials including Press Secretary Jen Psaki briefed about 30 social-media influencers on US policy on Ukraine in an effort to counter Russian propaganda, a spokeswoman said. The creators, who are active mainly on Bytedance Ltd’s TikTok, were given an overview of the latest White House thinking on Ukraine during a video call, with material similar to that ...

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• 14 March

  Border talks between India, China end without resolution

    Bloomberg Talks between military commanders of China and India to resolve a two-year-old border dispute — at its worst in four decades — were inconclusive, a joint statement issued by India’s Ministry of Defense said. A quick resolution of the border dispute would help “facilitate progress in bilateral relations,” the two sides said. This round of talks — the ...

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• 14 March

  Ramaphosa tightens hold on ruling party

  

  Bloomberg A campaign for South African President Cyril Ramaphosa to retain the leadership of the ruling African National Congress (ANC) when it holds internal elections in December is gathering momentum, with some key party officials throwing their weight behind him. “There is an emerging consensus that the president must get a second term,” Justice and Correctional Services Minister Ronald Lamola, ...

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• 14 March

  300,000 people in isolation or quarantine: Hong Kong

  

  Bloomberg About 300,000 people in Hong Kong are currently in isolation or under home quarantine because of Covid, Chief Executive Officer Carrie Lam said at a press conference on Sunday. The city has boosted support for isolated people because of the high numbers and will start sending medical packages to Covid patients from Monday, officials said. The supplies will include ...

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• 14 March

  Russia lost access to half its reserves: Siluanov

  

  Bloomberg Russia has already lost access to almost half of its reserves and sees more risks to President Vladimir Putin’s war chest due to increased pressure from the West on China, said Finance Minister Anton Siluanov. “The total volume of our reserves is about $640 billion, and about $300 billion are in such condition that we can’t use them now,” ...

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• 14 March

  Deutsche Bank joins peers in winding down Russia business

  

    Bloomberg Deutsche Bank AG reversed course and is now joining Wall Street banks Goldman Sachs Group Inc. and JPMorgan Chase & Co. in pulling back from business in Russia following the country’s invasion of Ukraine. “Like some international peers and in line with our legal and regulatory obligations, we are in the process of winding down our remaining business ...

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• 14 March

  ECB’s Villeroy says caution needed on monetary policy

  

    Bloomberg European Central Bank (ECB) Governing Council member Francois Villeroy de Galhau said uncertainty about the length of the current oil shock and the economic impact of Russia’s invasion of Ukraine mandate a cautious approach to monetary and budgetary policies in Europe. The oil shock “is very strong in its intensity, we don’t know its duration yet,” the Bank ...

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• 14 March

  RBA deputy governor Debelle to step down unexpectedly

  

    Bloomberg Reserve Bank of Australia (RBA) No. 2 Guy Debelle is stepping down from his position in an unexpected move that sees the departure of a potential future governor from the central bank. Debelle, who sits on the RBA’s policy-setting board, will join Fortescue Future Industries, a clean energy arm of iron ore miner Fortescue Metals Group, as chief ...

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• 14 March

  Banco BPM weighs sale, tie up for payments unit

  

    Bloomberg Banco BPM SpA is considering a possible sale or partnership for its payments unit, as Italy’s third-largest bank shifts strategy in a bid to maximise shareholder value. “We are examining all the options for our merchant-acquiring business, including a disposal or a joint venture agreement,” Chief Financial Officer Edoardo Ginevra said. “In past Banco BPM’s moves to value ...

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• 14 March

  BofA’s Moynihan sees strong demand for green debt

  

    Bloomberg Demand for green bonds and other financing tied to climate and environmental projects is growing and should expand further, said Bank of America Corp.’s (BofA) chief Brian Moynihan. “It’s a pretty amazing thing to see how much capital is coming in, and yet we’re getting started,” Moynihan said at the IIF Sustainable Finance Summit. “You’re going to see ...

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