March, 2022

• 21 March

  Russia used ‘Kinzhal’ missiles on cities, top Ukraine aide says

  

  Bloomberg Russia has turned more destructive artillery, including “Kinzhal” hypersonic missiles, against Ukrainian cities, a top Ukrainian aide said. “Kinzhal & Bastion systems are used against peaceful cities,” Mykhailo Podolyak, an adviser to the office of President Volodymyr Zelenskiy, said on Twitter. It was the first official response from Ukraine to Russia’s claims that it has fired the powerful missiles ...

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• 21 March

  South Korea’s National Security Council meets on North’s projectile

  

    Bloomberg South Korea convened a National Security Council (NSC) meeting to discuss North Korea’s launch of a short-range projectile, according to the presidential office. North Korea appears to have fired from its multiple rocket launcher this morning, the Joint Chiefs of Staff in Seoul said in a text message to reporters. The military has been maintaining defense readiness while ...

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• 21 March

  ‘Majority of Japanese worry China may invade Taiwan’

    Bloomberg Three in four Japanese people worry that China may take military action against Taiwan or a set of disputed islands in the East China Sea, according to a survey by the Kyodo News. They are concerned that Russia’s invasion of Ukraine could induce China to make similar offensives, respondents said in the poll conducted over the weekend. Public ...

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• 21 March

  India’s dependence on Russian weapons tethers Modi to Putin

  

  Bloomberg For all the success of the US-led campaign to isolate Russia on the world stage, India has stood out as one major democracy that has been reluctant to criticise Vladimir Putin — and billions of dollars in weapons purchases mean that’s unlikely to change anytime soon. Prime Minister Narendra Modi’s government is facing more pressure from fellow members of ...

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• 21 March

  Somalia’s oil-rich regional head reveals run for ’22 presidency

  

    Bloomberg The head of Somalia’s oil-rich Puntland, Said Abdullahi Deni, announced that he’s running for Somalia’s 2022 presidency, following a meeting with new members of parliament elected from that region. The leader, who is a critic of incumbent president Mohamed Abdullahi Mohamed, made the announcement in Garowe, the state’s regional capital in a televised speech. “I’m running for Somalia’s ...

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• 21 March

  Australia boosts military aid to Ukraine

  

    Bloomberg Australia is stepping up military and humanitarian aid for Ukraine to assist in its war against Russia. Prime Minister Scott Morrison’s government will offer an additional $15.6 million of military support for Ukraine, including unspecified material from the Australian Defence Force’s stocks. It’s also pledging another A$30 million in humanitarian assistance as well as at least 70,000 tonnes ...

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• 21 March

  Swiss banks hold $200bn in stashed Russian cash

  

    Bloomberg Swiss banks may hold more than $200 billion of Russian wealth, the country’s banking lobby estimates, as sanctions shine a spotlight on the extent of Russian wealth stored in overseas vaults. Banks probably hold between 150 billion ($160 billion) and 200 billion Swiss francs of Russian client money in offshore accounts, according to the Swiss Bankers Association. Credit ...

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• 21 March

  Goldman Sachs gives first-year legal chief $17.5 million

  

    Bloomberg Goldman Sachs Group‘s legal chief Kathryn Ruemmler received roughly $17.5 million in total compensation after being appointed its top lawyer a year ago, the firm disclosed in a proxy. Goldman paid Ruemmler $7.9 million in cash last year, including $1.5 million in base salary and a $6.4 million bonus, the proxy showed. Goldman gave her a stock bonus ...

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• 21 March

  Unicredit exit from Russia Alfa Bank in limbo amid sanctions

  

    Bloomberg UniCredit SpA is facing a delay in the long-planned sale of a stake in the owner of a Russian bank, in a sign of the complications in store for Chief Executive Officer Andrea Orcel as he considers a wholesale retreat from the country. UniCredit in November exercised an option to sell its 10% in ABH Holdings, the owner ...

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• 21 March

  Bank of France sees uncertainty as growth slows

  

    Bloomberg France’s central bank said the war in Ukraine is already affecting the economy and creating high uncertainty that makes it tricky to forecast how much inflation will accelerate or the extent to which the recovery from the Covid pandemic will slow. Instead of publishing its regular economic projections, the Bank of France took the unprecedented step of presenting ...

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