March, 2022

• 14 March

  North Korea may test ICBM this week, Yonhap says

  

  Bloomberg North Korea could launch an ICBM as soon as this week, the Yonhap News Agency reported, in what would be its most serious provocation in five years as South Korea undergoes a presidential transition and the world focuses on Russia’s invasion of Ukraine. South Korea and the US have detected signs of an imminent test of an intercontinental ballistic ...

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• 14 March

  Hong Kong can’t impose snap lockdown: Lam

  

  Bloomberg Hong Kong doesn’t have the infrastructure to roll out a lockdown and compulsory testing as swiftly as mainland China, according to Chief Executive Carrie Lam, whose announcement of a now-delayed city-wide test sparked chaos and confusion in the financial hub. The 17.5 million residents of the southern Chinese technology hub of Shenzhen were told that they’d go into a ...

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• 14 March

  Chinese Navy ship sailed within archipelago: Manila

  

    Bloomberg The Philippines said a Chinese Navy ship entered waters within the archipelago without permission earlier this year, potentially expanding a territorial dispute beyond the South China Sea. The ship lingered in the Sulu Sea, which is surrounded by undisputed territory in the Philippine archipelago, for three days from late-January to early-February despite being challenged by a Philippine Navy ...

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• 14 March

  UK’s cost-of-living crisis got worse before it even began

  

  Bloomberg The UK was bracing for its biggest squeeze on living standards in decades even before Russia invaded Ukraine. The impact of the war is now threatening to deepen a crisis for the poorest households and pull millions more into financial trouble. A spike in the price of oil has already pushed petrol and diesel prices to a record. Economists ...

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• 14 March

  Italy will need to borrow more to face crisis, says minister

  

    Bloomberg Italy’s government will have to plan for additional borrowing this year to protect businesses and families from the fallout of Russia’s invasion of Ukraine, Agriculture Minister Stefano Patuanelli said. “I think extra deficit spending today is more than justified and I believe it is necessary,” Patuanelli said in an interview on Radio 24. He added that the Cabinet ...

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• 14 March

  EU considers Russia export ban on cars worth $54,760

    Bloomberg The EU is discussing a ban on exports of luxury vehicles worth more than 50,000 euros ($54,760) to Russia as part of its latest sanctions package, according to two diplomats familiar with the plan. The proposed ban, which is set to be approved and could still change, would apply to models from several European car brands. , including ...

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• 14 March

  Poland to shield consumers from food, oil price increase

    Bloomberg Poland will prolong measures aimed at cushioning the impact of rising cost of gasoline and food on consumers, Prime Minister Mateusz Morawiecki said, as the country battles the highest inflation in more than two decades. The economy will need to bear the cost of sanctions against Russia, Morawiecki said, after the war in Ukraine led to a surge ...

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• 14 March

  Germany may need more debt this year to cushion impact of war

    Bloomberg Germany’s federal government may need higher net borrowing on top of the 99.7 billion euros ($109 billion) already programmed for this year due to the uncertainty over the economic outlook caused by Russia’s invasion of Ukraine. The country’s finance ministry is pursuing a supplementary budget to account for the potential impact of the war, according to two senior ...

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• 14 March

  Norway needs to rein in budget spending to prevent slowdown

  

  Bloomberg Norway needs to rein in budget spending to prevent a sudden slowdown of an economy that is now booming, Finance Minister Trygve Slagsvold Vedum warned. A potential overheating could lead to “even faster interest rate tightening than the Norges Bank has already signalled,” the finance ministry said in a statement on Monday ahead of the government’s conference on next ...

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• 14 March

  Panic selling grips Chinese stocks as concerns pile up

  

  Bloomberg Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing’s close relationship with Russia and renewed regulatory risks sparked panic selling. The Hang Seng China Enterprises Index closed down 7.2% on Monday, the biggest drop since November 2008. The Hang Sang Tech Index tumbled 11% in its worst decline since ...

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