Putin Gives Russian Citizenship to US Fugitive Edward Snowden

Putin, who started the full-scale invasion of Ukraine in February 2022 and has suffered recent setbacks on battlefield, last week ordered the mobilization of 300,000 troops. The decision triggered sporadic protests throughout the country, amid fears the government will close the border for draft-aged men.

This Is What Life’s Like in the World’s Strictest Covid Zero City

Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy.

UK Market Plunge Sparks Talk of Emergency BOE Rate Hike

“The market is giving very strong signals that it is no longer willing to fund the UK’s external deficit position at the current configuration of UK real yields and exchange rate,” Saravelos wrote in a note, adding the view is his own, rather then the view of Deutsche Bank economists. “The policy response required to … Read more

Oil Set for Fourth Weekly Loss With Rate Hikes Darkening Outlook

West Texas Intermediate was steady near $84 a barrel, and down almost 2% for the week. The Federal Reserve gave its clearest signal yet that it’s willing to tolerate a US recession as the necessary trade-off for regaining control of inflation, while the UK, Norway and South Africa also followed with hikes.

It’s Every Nation for Itself as Dollar Batters Global Currencies

For starters, China is now the biggest trading partner of the US, Japan and countries across Europe. An agreement without Beijing’s participation would likely be an ineffective deal and while the yuan is under pressure versus the dollar and the government there is leaning against weakness with its fixings, it’s far from distressed levels that … Read more

Key Takeaways From Fed Decision to Raise Rates 75 Basis Points

Here are key takeaways from the Federal Reserve’s interest-rate decision and economic projections on Wednesday: Fed raises its main rate 75 basis points, as anticipated, to a range of 3% to 3.25%, while new projections from officials show a median estimate of 4.4% at the end of 2022 and 4.6% at the end of 2023 … Read more

Controversial US Visa Draws Rich From China to India After Reset

(Bloomberg) — A US visa program that attracted $37 billion in foreign investments since 2008 for projects including New York’s Hudson Yards and Trump Bay Street in Jersey City is making a comeback — and the queue of wealthy applicants from China to India is growing. The revived EB-5 program is poised to fund undertakings from a golf resort in … Read more