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☆ Southeast Asian finance leaders in talks on containing global risks
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

NUSA DUA, Indonesia, March 31 (Reuters) - Southeast Asian central bank governors and finance ministers are set to wrap up talks on Friday, after meeting in Bali this week for discussions often focused on how the region can remain resilient in the face of a spike in global risks. The gathering of finance leaders from the Association of Southeast Asian Nations (ASEAN) comes amid a backdrop of recent global banking turmoil after the collapse of Silicon Valley Bank and the bailout and takeover of Credit Suisse. Dody also said finance deputies discussed connecting payment systems in the region, even though the infrastructure of some ASEAN countries was not fully developed yet. They also discussed cryptocurrencies and central bank digital currencies, he said. They knew the memory of the Asian financial crisis," Philippine central bank governor Felipe Medalla told the seminar on economy resiliency.

☆ World Bank raises 2023 growth outlook in developing East Asia as China reopens
▼ + stars: | 2023-03-31 | by ( Xinghui Kok | ) www.reuters.com time to read: +2 min

(Reuters) - Growth in the developing economies of East Asia and the Pacific will accelerate in 2023 thanks to China’s reopening and economic rebound, but high inflation and household debt will weigh on consumption in some countries, the World Bank said on Friday. FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. The stronger forecast was due to China’s reopening, which the World Bank expects will help its economy rebound to 5.1% from 3% last year. Countries in developing East Asia and the Pacific include Vietnam, the Philippines, Malaysia, Indonesia, Thailand and Mongolia, plus island nations like Fiji, Vanuatu and Palau. “While still small compared to the advanced economies like the U.S., China has become an increasingly important source of knowledge for innovation in other East Asia and Pacific countries,” said the report.

☆ The CFTC's suit against Binance marks a deepening crackdown on the crypto industry
▼ + stars: | 2023-03-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

All this comes just days after the SEC charged a spate of high-profile individuals for fraud and crypto market manipulation. That comes months after the total crypto market value saw about $2 trillion erased in a brutal plunge in token prices. The SEC also warned that the platforms investors use to get involved in crypto aren't quite airtight, in the regulator's view. In other news:FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua Reuters2. The World Bank just warned that this could be the start of a "lost decade" for global economic growth.

☆ U.S.-China relations are going downhill with ‘no trust’ on either side, Stephen Roach says
▼ + stars: | 2023-03-28 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

US President Joe Biden and China's President Xi Jinping (L) shake hands as they meet on the sidelines of the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 14, 2022. "Right now, there is no trust," he told "Squawk Box Asia" on Tuesday, who is currently attending the China Development Forum in Beijing. watch now"The balloon was a spark that really put us on a swift downhill descent," Roach added. The office did not provide details of her itinerary while in the U.S. On Taiwan, China has repeatedly said the issue is an internal affair. Every single Taiwan president in recent memory has done this," White House National Security Council spokesman John Kirby, said at a press briefing last week.

☆ World Bank board aims to pick next president by early May, U.S. nominee expected soon
▼ + stars: | 2023-02-23 | by ( Andrea Shalal | ) www.reuters.com time to read: +4 min

[1/2] A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. The bank's executive directors affirmed their commitment to an "open, merit-based and transparent selection process" for the new leader, and said countries could nominate candidates beginning Thursday through March 29. The World Bank board gave a list of criteria and relevant experience for would-be applicants, including "effective communication and diplomatic skills" and also said it "would strongly encourage women candidates to be nominated." The bank has never had a permanent woman president in its 77-year history, although current International Monetary Fund chief Kristalina Georgieva served as acting president for about two months in early 2019. The United States has historically selected the president of the bank, but some developing countries and civil society groups are challenging that tradition.

☆ India finance minister and U.S. Treasury's Yellen discuss debt, crypto
▼ + stars: | 2023-02-23 | by ( ) www.reuters.com time to read: +1 min

[1/3] Indian Finance Minister Nirmala Sitharaman speaks during a side event on the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 14 July 2022. Made Nagi/Pool via REUTERSBENGALURU, Feb 23 (Reuters) - Indian Finance Minister Nirmala Sitharaman and U.S. Treasury Secretary Janet Yellen discussed strengthening multilateral development banks, global debt vulnerabilities and crypto assets on the sidelines of the G20 finance chiefs meeting on Thursday, the finance ministry said. India is hosting the first major G20 event under its year-long presidency at the summer retreat of Nandi Hills near tech hub Bengaluru. "The two leaders discussed their perspectives on strengthening MDB (multilateral development banks), global debt vulnerabilities, crypto assets besides the Just Energy Transition Partnership," New Delhi's finance ministry said in a tweet. Under the partnership, the United States and its allies, as well as multilateral development banks and agencies, provide funding to developing economies to move away from coal production and consumption.

☆ Indonesia to repatriate alleged drug trafficker to Italy
▼ + stars: | 2023-02-19 | by ( ) www.reuters.com time to read: +1 min

NUSA DUA, Bali, Indonesia, Feb 19 (Reuters) - Indonesian authorities will repatriate alleged drug trafficker Antonio Strangio, an Italian and Australian dual national who was detained in Bali earlier this month, to Italy on Sunday, authorities said. "After coordinating with National Central Bureau in Rome, he must be sent to Italy immediately. He will be delivered from here to Italy, and there he will be called to account on his case until there is a ruling," Anggaito said. Strangio was arrested on Feb.3 in Indonesia's resort island of Bali which he was transiting on his way home to Australia. Reporting by Bernadette Christina and Sultan Anshori in Bali, Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ Blinken meets with senior Chinese diplomat in Munich amid tensions over suspected spy balloon
▼ + stars: | 2023-02-18 | by ( Andrea Mitchell | Christina Zhao | ) www.cnbc.com time to read: +3 min

Secretary of State Antony Blinken on Saturday met with a senior Chinese diplomat at a conference in Munich, a State Department spokesperson said. Diplomatic tensions between the U.S. and China have risen since the shooting down of the alleged Chinese spy balloon, which China has insisted was not intended for spying. Earlier Thursday, Biden delivered his first remarks about the Chinese balloon and three unidentified objects flying above North America that were downed by the U.S. military. One was shot down Feb. 10 over Alaska, another was shot down Feb. 11 over Canada, and a third was shot down over Lake Huron on Feb. 12. U.S. Northern Command said Friday it recommended an end to the search for debris from two objects shot down in United States airspace this month.

[1/2] India's Prime Minister Narendra Modi walks after the handover ceremony during the G20 Leaders' Summit, in Nusa Dua, Bali, Indonesia, November 16, 2022. The Students' Federation of India (SFI) plans to show the documentary, "India: The Modi Question", in every Indian state, its general secretary told Reuters on Wednesday. "We are encouraging campuses across the country to hold screenings as an act of resistance against this censorship," Ghosh said. The media coordinator for the university administration did not comment when asked about the power cut on the campus. Ghosh said members of a right-wing student group threw bricks at the students hoping to watch the documentary hurting several, and students had complained to police.

☆ South Korea flags economic slump deepening for while
▼ + stars: | 2022-12-18 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. South Korea’s economy, the fourth-largest in Asia, relies heavily on exports ranging from cars and ships to chips and smartphones. The central bank last month cut its projection for next year’s economic growth to 1.7% from the previous 2.1% in its scheduled revision, citing falling exports and the resultant reduction likely in corporate investment. The ministry is due to unveil its 2023 economic projections and strategies on Wednesday. President Yoon, struggling against low approval ratings, says exports are the best choice for the manufacturing-heavy country to overcome its slump.

☆ South Korea's economic slump to bottom in H1 2023 - finance minister
▼ + stars: | 2022-12-18 | by ( Reuters Staff | ) www.reuters.com time to read: 1 min

FILE PHOTO: South Korea Finance Minister Choo Kyung-ho attends the G20 Finance Ministers and Central Bank Governors Meeting in Nusa Dua, Bali, Indonesia, 16 July 2022. Made Nagi/Pool via REUTERSSEOUL (Reuters) - South Korea’s finance minister said on Monday the economy is slowing at a more rapid pace than previously expected and would bottom in the first half of next year. “Our economy’s growth is expected to slow next year due to the effects from a global economic slump, and the difficulty will be focused on the first half,” Minister Choo Kyung-ho said at the opening of a meeting with the ruling party leadership. The meeting was held ahead of the government’s announcement later this week of its economic policy strategies for next year, which will be the first full-year statement for President Yoon Suk-yeol’s administration since its launch in May.

☆ Drop in COVID alertness could create deadly new variant - WHO
▼ + stars: | 2022-12-02 | by ( Bhanvi Satija | ) www.reuters.com time to read: +2 min

Dec 2 (Reuters) - Lapses in strategies to tackle COVID-19 this year continue to create the perfect conditions for a deadly new variant to emerge, as parts of China witness a rise in infections, the head of the World Health Organization said on Friday. BAY ISMOYO/Pool via REUTERS 1 2"Gaps in testing ... and vaccination are continuing to create the perfect conditions for a new variant of concern to emerge that could cause significant mortality," Tedros said. COVID-19 infections are at record highs in China and have started to rise in parts of Britain after months of decline. Further easing of COVID-19 testing requirements and quarantine rules in some Chinese cities was met with a mix of relief and worry on Friday, as hundreds of millions await an expected shift in national virus policies after widespread social unrest. The WHO urged governments globally to focus on reaching those at risk, such as people over the age of 60 and those with underlying conditions, for vaccination.

☆ New UK PM Sunak visits Kyiv, pledges support
▼ + stars: | 2022-11-19 | by ( ) www.reuters.com time to read: +1 min

[1/2] British Prime Minister Rishi Sunak holds a press conference after meeting with US President Joe Biden and a phone call to Ukraine President Volodymyr Zelenskiy on November 16, 2022 in Nusa Dua, Indonesia. Leon Neal/Pool via REUTERSKYIV, Nov 19 (Reuters) - Britain's new Prime Minister Rishi Sunak made his first visit to Kyiv on Saturday, pledging to continue the firm support for Ukraine that was a focus of policy under his predecessors. Ukrainian President Volodymyr Zelenskiy posted a video on Saturday of the two meeting in Kyiv. Sunak, a former finance minister, took office last month following the shortlived premiership of Liz Truss. She and her predecessor Boris Johnson had both made public support for Ukraine an important part of their agenda, and Sunak has said he will continue this.

☆ Erdogan tells Netanyahu relations should be maintained with mutual respect
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

[1/2] President of Turkey Recep Tayyip Erdogan delivers his messages to the journalists in G20 Summit's news conference in Media Center, BICC, Nusa Dua, Badung Regency, Bali, Indonesia, November 16, 2022. ADITYA PRADANA PUTRA/G20 Media Center/Handout via REUTERSANKARA, Nov 17 (Reuters) - Turkish President Tayyip Erdogan told Israel's former Prime Minister Benjamin Netanyahu, who won an election this month, that it is important to maintain relations on a basis of respect for mutual interests, the Turkish presidency said on Thursday. In a phone call, Erdogan told Netanyahu he was saddened by "events two days ago in the West Bank". Netanyahu offered his condolences for those who died in a bomb attack in Istanbul on Sunday, the presidency said. Israeli President Isaac Herzog visited Ankara this year in the first visit to Turkey by an Israeli leader since 2008.

☆ Xi tells Marcos stability on South China Sea issues key to good bilateral ties
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: 1 min

[1/2] Chinese President Xi Jinping speaks during the G20 leaders summit in Nusa Dua, Bali, Indonesia, Tuesday, Nov. 15, 2022. Dita Alangkara/Pool via REUTERSBEIJING, Nov 17 (Reuters) - Chinese President Xi Jinping told Philippines counterpart Ferdinand Marcos Jr at a meeting on Thursday that the strength of bilateral ties hinged on stable relations at sea, Chinese state broadcaster CCTV reported. Xi was referring to disputes over areas of the South China Sea that have plagued relations between Beijing and Manila. CCTV said Xi also told Marcos on the sidelines of an Asia-Pacific Economic Cooperation (APEC) summit in Bangkok that the two countries need to stick to amicable negotiations to resolve differences over South China Sea issues. Reporting by Eduardo Baptista Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

☆ IMF chief says war in Ukraine is the ‘single most important negative factor’ for global economy
▼ + stars: | 2022-11-17 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +2 min

watch nowThe war in Ukraine is the "single most important negative factor" for the world economy this year — and most likely for 2023 as well, IMF chief Kristalina Georgieva told CNBC Wednesday. "We judge the war in Ukraine to be the single most important negative factor for the world economy this year, most likely also next year," she told CNBC's Martin Soong on the sidelines of the Group of 20 meeting in Bali, Indonesia. International Monetary Fund Managing Director Kristalina Georgieva attends a session during the G20 Summit in Nusa Dua on the Indonesian resort island of Bali on November 16, 2022. Russia bears ultimate responsibility as it continues its illegal war against Ukraine," Jens Stoltenberg said. 'High price to pay' for fragmentationThe IMF previously issued warnings on the fragmentation of the global economy as a result of the Russia-Ukraine war, and cut 2023 growth forecasts to 2.7% — predicting a slowdown from an expected 3.2% in 2022.

The move angered foreign governments and foreign-owned carmakers who say the change will disqualify a majority of their EV fleets from North American markets. "But it should not have negative side effects on their European allies and the European economy." South Korean President Yoon Suk-yeol also spoke to Biden about the issue during a bilateral meeting at the G20 summit, according to Yoon’s office. The Treasury is working to define the rules for some $278 billion worth of tax credits on EVs, solar and wind power investments and a range of other technologies. While a number of countries have said the U.S. tax credits likely violate World Trade Organization rules, none have sought to file a formal challenge.

☆ G20's criticism of Russia reflects the rise of new Asian power: India
▼ + stars: | 2022-11-17 | by ( Rhea Mogul | ) edition.cnn.com time to read: +9 min

“Today’s era must not be of war,” it said, echoing what Indian Prime Minister Narendra Modi told Russian leader Vladimir Putin during a face-to-face meeting in September. “How India united G20 on PM Modi’s idea of peace,” ran a headline in the Times of India, the country’s largest English-language paper. India's Prime Minister Narendra Modi and Indonesia's President Joko Widodo hold hands during the handover ceremony at the G20 leaders' summit, in Nusa Dua, Bali, Indonesia, November 16, 2022. British Prime Minister Rishi Sunak and India's Prime Minister Narendra Modi hold a bilateral meeting on November 16, 2022 in Nusa Dua, Indonesia. And while this year’s G20 was looked at through the lens of the war, India could bring its own agenda to the table next year.

☆ G-20 Leaders Agree to Declaration Against War, Pressuring Russia
▼ + stars: | 2022-11-16 | by ( Jason Douglas | Chun Han Wong | ) www.wsj.com time to read: 1 min

NUSA DUA, Indonesia—Leaders of the Group of 20 countries unanimously endorsed a declaration saying the war in Ukraine is hurting the global economy, a message that showed Russia’s increasing isolation on the world stage as the costs of the conflict mount. G-20 representatives, including those from Russia and China, signed a statement that focused on the economic damage caused by the violence and called for an end to the fighting. The joint declaration marks a diplomatic victory for Western diplomats seeking to rally global opposition to Russia’s aggression.

☆ Yellen Meets China’s Central Bank Governor as U.S. Seeks to Repair Ties With Beijing
▼ + stars: | 2022-11-16 | by ( Andrew Duehren | ) www.wsj.com time to read: 1 min

NUSA DUA, Indonesia—Treasury Secretary Janet Yellen held her first meeting with a top Chinese economic official since House Speaker Nancy Pelosi‘s visit to Taiwan, as the Biden administration works to restore communication lines and prevent a spiraling economic conflict with the world’s second-largest economy. Ms. Yellen met with People’s Bank of China Gov. Yi Gang for more than two hours on Wednesday on the sidelines of a summit of the Group of 20 major economies in Bali, Indonesia. They discussed the volatility in energy and commodity markets and the economic outlook for the two countries, according to a U.S. readout of the meeting. The People’s Bank of China called the exchange broad and constructive, but didn’t offer any further details.

☆ WTO warns of 'real' recession risk in some major economies
▼ + stars: | 2022-11-16 | by ( Leika Kihara | Hadeel Al Sayegh | ) www.reuters.com time to read: +3 min

"It may not happen everywhere, but several key countries risk sliding into recession," WTO Director-General Ngozi Okonjo-Iweala told Reuters on the sidelines of the G20 leaders' meeting in Bali, Indonesia. "Of course, the impact of that can be quite significant for emerging markets and poor countries, which need external demand from the developed countries to recover." The Geneva-based trade body last month projected global trade to rise just 1.0% in 2023, down sharply from an estimated 3.5% rise for this year. Okonjo-Iweala said she has called on G20 leaders to phase out food export restrictions, which have been on the rise and hurt poor countries by pushing up food prices. In a meeting in September, trade ministers of the G7 advanced economies agreed to work towards having a functioning WTO dispute settlement system by 2024.

☆ G20 leaders' declaration approved at summit - diplomatic sources
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

NUSA DUA, Indonesia, Nov 16 (Reuters) - A leaders declaration at the summit of the Group of 20 (G20) major economies was adopted on Wednesday, several diplomatic sources told Reuters. Reporting by Reuters staff; Writing by Martin Petty; Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.

☆ G20 agrees to pursue efforts to limit temperature rise to 1.5C
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: +3 min

Delegates at the U.N. climate summit in Sharm el-Sheikh, Egypt, where progress towards an agreement by the end of the week has been slow, have been watching the G20 summit closely for signs that developed nations are willing to make new commitments on climate. "We resolve to pursue efforts to limit the temperature increase to 1.5°C. This will require meaningful and effective actions and commitment by all countries," the G20 statement said. It also made reference to the need to accelerate "efforts towards the phasedown of unabated coal power, in line with national circumstances and recognising the need for support towards just transitions." "We will play our part fully in implementing the (COP26) Glasgow Climate Pact," the G20 leaders said.

☆ Yellen calls for international help for Ukraine after wave of missile attacks
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

NUSA DUA, Indonesia, Nov 16 (Reuters) - U.S. Treasury Secretary Janet Yellen on Wednesday called for international support for Ukraine and said she wanted to acknowledge a wave of Russian missile attacks on the country in the past day. Yellen, speaking at the G20 Summit in Bali, Indonesia, said the war had affected millions of people. Reporting by David Lawder; Writing by Martin Petty; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

☆ Erdogan says Russia had 'nothing to do with' Poland explosions
▼ + stars: | 2022-11-16 | by ( ) www.reuters.com time to read: 1 min

NUSA DUA, Indonesia, Nov 16 (Reuters) - Turkish President Tayyip Erdogan said on Wednesday that he respects Russia's statement that Russian missiles had not hit Polish territory, adding that he believes Moscow had "nothing to do with it." "Russia saying this has nothing to do with them and (U.S. President Joe) Biden saying these missiles are not Russian-made show that this has nothing to do with Russia," Erdogan said at a news conference during the G20 summit in Bali, Indonesia. Erdogan said the situation needs to be investigated and that he will speak with Russian President Vladimir Putin when he returns to Turkey. Reporting by Vladimir Soldatkin and Fransiska Nangoy; Writing by Ali Kucukgocmen; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

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