FirstFT: Russia and China vow to strengthen ties

Vladimir Putin and Wang Yi, China’s prime diplomat, vowed to strengthen ties between their two international locations regardless of “strain from the worldwide group” forward of the primary anniversary of Russia’s invasion of Ukraine.

Wang’s go to to Moscow, the primary by a senior Chinese language official since Putin ordered the invasion final yr, highlights the deepening relationship between the Russian president and his Chinese language counterpart Xi Jinping because the battle drags into its second yr.

“We’re ready to keep up our strategic focus and willpower alongside Russia,” Wang stated as he met Putin on Wednesday. He added that the 2 sides would deepen “political mutual belief and strategic co-operation”.

Beijing has offered an financial lifeline to Moscow as western sanctions chew, stepping up its buy of Russian power exports. It has additionally elevated its provide of technical elements that Russia can now not import from western international locations due to sanctions.

5 extra tales within the information

1. Lacking Chinese language banker deliberate Singapore household workplace Lacking Chinese language dealmaker and billionaire Bao Fan, who based funding financial institution China Renaissance, was making ready to move some of his fortune from China and Hong Kong to a household workplace in Singapore within the months main as much as his disappearance, in response to sources. Many Chinese language executives view Singapore as a haven to park their cash after crackdowns at house.

2. Imran Khan supporters arrested in Pakistan protests Former Pakistan prime minister Imran Khan’s social gathering stated yesterday that as much as 700 of its activists and leaders had been arrested during protests designed to destabilise the federal government, which is urgently in search of an IMF bailout to avert a default. Khan and his allies stated final week that they wished their supporters to be detained en masse to drive early elections.

3. Toyota raises Japanese wages by most in 20 years Toyota has granted 68,000 unionised employees in Japan their highest pay rises in about 20 years, giving a lift to prime minister Fumio Kishida’s marketing campaign for wage will increase to deal with rising dwelling prices. The transfer by Japan’s largest carmaker, a bellwether of its manufacturing sector, is predicted to place strain on different firms to observe swimsuit.

4. Google claims breakthrough in quantum laptop error correction
The corporate’s newest analysis marks an early however doubtlessly important step in overcoming the biggest technical barrier to a revolutionary new type of computing. The web firm’s findings, revealed within the journal Nature, mark a “milestone on our journey to construct a helpful quantum laptop”, stated Hartmut Neven, head of Google’s quantum efforts.

5. Most Fed officers backed quarter-point fee rise The overwhelming majority of Federal Reserve officers supported slowing the pace of US interest rate rises to 0.25 share factors final month, in response to an account of their most up-to-date assembly that confirmed the central financial institution remains to be decided to carry inflation again to focus on.

The day forward

Japanese Emperor’s birthday The Japanese inventory market can be closed at the moment for the general public vacation marking Emperor Naruhito’s birthday.

Turkey rate of interest determination Turkey’s central financial institution is ready to announce rates of interest at the moment. Economists count on policymakers to revive a rate-cutting cycle in a bid to spice up financial exercise after this month’s devastating earthquakes.

Earnings Corporations reporting outcomes at the moment embody Alibaba Group, Deutsche Telekom, Intuit, Dr Pepper Snapple Group, Budweiser, Warner Bros Discovery, BAE Methods, Telefónica, Reside Nation, Qantas and Anglo American.

What else we’re studying and listening to

Iran’s supreme chief takes centre stage Ayatollah Ali Khamenei has embraced a more active role in public life as he seeks to shore up the authority of the Iranian regime after probably the most intense demonstrations for the reason that Islamic revolution. However quite than being an indication of change inside the theocratic regime, it exhibits an try and handle his picture.

🎧 The prices of Russia’s invasion of Ukraine One yr since Russia launched its full-scale invasion of Ukraine, our newest episode of the Behind the Cash podcast examines the costs of this war: How people’ lives have been uprooted, how the nation’s economic system has been turned the wrong way up, and the way international markets similar to meals and power have been reworked.

Newcomer disrupts Nigerian presidential race Just a few months in the past, most Nigerians assumed Saturday’s election would come down to 2 rich and seasoned septuagenarian politicians. However Peter Obi, a businessman and former governor with a fastidiously crafted popularity for shunning the accoutrements of energy, has electrified younger voters and made the outcome of the election much more unpredictable.

Intolerant democracy involves Israel The programme of prime minister Benjamin Netanyahu’s newest authorities is of evident significance for the way forward for Israel. However additionally it is of wider significance, argues Martin Wolf, and raises questions on how a democracy can flip into an autocracy through unbridled majoritarianism.

Ladies on the centre of a brand new Bengaluru museum In India, goddesses are ubiquitous and worshipped extensively within the nation’s mythology. However reporting exhibits additionally it is probably the most harmful nation for ladies throughout a spread of parameters. It’s this paradox that’s at the centre of the inaugural exhibition of Bengaluru’s new Museum of Artwork and Pictures.

Take a break from the information

High quality time — an Amy Hwang cartoon. See extra of Amy’s work here.