Poland says 15 million Ukrainian refugees entered since Feb 24

  Bloomberg The number of Ukrainian refugees entering Poland rose to 1.52 million this morning, the Polish border guards reported on Twitter. Although Poland’s daily refugee inflow from Ukraine fell by 26%, 87,000 people crossed border with Ukraine on March 10. Yesterday, Warsaw Mayor Rafal Trzaskowski stated there were around 290,000 refugees in Poland’s largest city. According to UNHCR, the ...

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Sweden to boost defense spending to Nato target

Bloomberg Sweden’s government wants to boost defense spending to meet the target that the Nato defense alliance has set for its members, as the largest Nordic nation seeks to strengthen its ability to defend itself after Russia’s attack on Ukraine. The country, which currently spends about 1.3% of gross domestic product on its military, wants to reach the level of ...

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Major Ukrainian food exporter flips to feed a nation at war

  Bloomberg Ukrainian food conglomerate MHP SE built its business exporting grains and poultry to Europe, the Middle East and North Africa. War forced a pivot, and now the company supplies the Ukrainian army and delivers ready-to-eat chicken to civilians in bombed-out cities. The shift shows how quickly Ukraine’s farming industry—a global heavyweight —flipped from feeding the world to feeding ...

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US slams China for pushing Russia’s ‘preposterous’ lab theory

Bloomberg Washington criticized China and Russia for promoting a conspiracy theory that the US military runs biolabs in Ukraine, escalating a dispute over attempts at misleading the public over the war in Europe. “We took note of Russia’s false claims about alleged US biological weapons labs and chemical weapons development in Ukraine,” White House Press Secretary Jen Psaki said in ...

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China credit growth slows more than expected despite easing

  Bloomberg China’s credit expansion slowed as a long holiday and the slumping housing market meant people and companies borrowed less, raising expectations that the central bank will need to do more to support growth. Banks lent 1.2 trillion yuan ($194 billion) in the month, down from 4 trillion yuan in January and less than in February last year, the ...

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Nigeria banks ration dollars as regulator signals stopping sales

  Bloomberg Nigerian lenders cut the dollar spending limits on local currency cards to free more resources to fund imports after the central bank signaled it will stop foreign-exchange sales to banks. United Bank for Africa Plc stopped the use of naira card to withdraw dollars from automated teller machines outside the country or make international payments at point of ...

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Banks eye $6.6 billion debt for Orange, Masmovil joint venture

  Bloomberg Telecom giants Orange SA and Masmovil Ibercom SA are seeking to line up a debt package of up to 6 billion euros ($6.6 billion) to back a joint venture, creating one of the largest leveraged debt financings in the region, people familiar with the matter said. Orange and Masmovil entered into exclusive negotiations on March 8 to combine ...

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JPMorgan and Goldman lead Wall Street’s retreat from Russia

Bloomberg JPMorgan Chase & Co joined Goldman Sachs Group Inc in pulling back from Russia in response to the country’s invasion of Ukraine last month. JPMorgan, the biggest US bank, is currently engaging in limited activities in the country, the New York-based company said in a statement. Goldman Sachs said it plans to close its operations there. The finance-industry titans ...

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RBNZ urged to delay lending restrictions

  Bloomberg New Zealand banks are calling on the Reserve Bank to delay implementation of new mortgage lending restrictions such as debt-to-income ratios as the housing market cools. Existing restrictions and rising interest rates are already slowing home-lending growth, and banks are concerned the introduction of further limits could have “unintended consequences,” the New Zealand Bankers Association said in a ...

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US futures rise; traders on edge over war in Ukraine

  Bloomberg US stock-index futures advanced as investors eyed cheaper valuations even as they remained concerned about global growth amid a raging war in Ukraine and an impending rate-hike cycle at the Federal Reserve. Contracts on the S&P 500 and Nasdaq 100 indexes added 0.5% each, after swinging between gains and losses at least six times. Europe’s Stoxx 600 gauge ...

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