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Kishida said there were four "pillars" to Japan's new Indo-Pacific plan: maintaining peace, dealing with new global issues in cooperation with Indo-Pacific countries, achieving global connectivity through various platforms, and ensuring the safety of the open seas and skies. Japan pledged $75 billion to the region by 2030 via private investment and yen loans and by ramping up aid through official governmental assistance and grants. "We plan to expand the cooperation of the free and open Indo-Pacific framework," Kishida told the Indian Council of World Affairs. China has ramped up its military presence in the Indo-Pacific and rapidly modernised its navy while promoting its Belt and Road Initiative. "Giving voice to the priorities of the Global South is an important pillar of our G20 presidency," Modi said after his talks with Kishida.

☆ Asia Pacific stocks rise as banking concerns ease, recession fears continue ahead of Fed meeting
▼ + stars: | 2023-03-20 | by ( Michelle Toh | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Stocks in the Asia Pacific region rose Tuesday as concerns about the global banking sector eased in response to a whirlwind of intervention by policymakers and industry players. The S&P/ASX 200 in Australia jumped 1.3%, boosted by its AXFJ index, a measure of banking stocks, which surged 1.7%. In Hong Kong, the Hang Seng Index (HSI) opened up 0.8%. US stock futures were flat in Asian trade Tuesday, with Dow futures, S&P 500 futures and Nasdaq futures little changed. Still, recession fears continue to dog investors ahead of the US Federal Reserve’s meeting, which is set to conclude Wednesday.

☆ Ukraine war: Russia tightens ties with China as West offers $16 bln lifeline to Kyiv
▼ + stars: | 2023-03-20 | by ( ) www.reuters.com time to read: +5 min

A joint statement included familiar accusations against the West - that the United States was undermining global stability and NATO barging into the Asia-Pacific region. Putin praised Xi for a peace plan for Ukraine that he proposed last month and blamed Kyiv and the West for rejecting it. But Xi, who was due to depart Moscow on Wednesday, barely mentioned the conflict, saying that China had an "impartial position" on it. The money would help shore up Ukraine, which has suffered extensive damage to its infrastructure and economy during Russia's year-long invasion. [1/16] Russian President Vladimir Putin and Chinese President Xi Jinping leave after a reception in honor of the Chinese leader's visit to Moscow, at the Kremlin in Moscow, Russia March 21, 2023.

☆ France's OVH expands into India amid growing cloud adoption
▼ + stars: | 2023-03-20 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

March 20 (Reuters) - French software firm OVHcloud (OVH.PA) has launched its first data centre in India as it expands in the Asia-Pacific region aiming to capitalise on growing cloud adoption amid heightened concerns over data privacy, it said on Monday. The new data centre in Mumbai will provide Indian businesses with local computer and storage infrastructure to meet changing data compliance needs as India digitalises and pushes for more data protection, OVH said. "The Indian market is a very...fast-growing market," CEO Michel Paulin told Reuters, adding OVH had already sold a few hundred servers. "We will continue to recruit in India," Paulin said, adding OVH had created jobs last year in Mumbai to prepare the launch and implement the technical infrastructure. But the need for digital and cloud solutions was still there, Paulin said.

☆ Goldman Sachs' Canute Dalmasse to retire after 21 years - memo
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, March 14 (Reuters) - Canute Dalmasse, Goldman Sach's (GS.N) co-head of Asia Pacific equities distribution and execution, will retire after nearly 21 years with the bank, according to a memo seen by Reuters. Dalmasse joined Goldman Sachs in 2002 as an international sales trader in New York and relocated to Hong Kong in 2006, the memo said. He was previously the head of Hong Kong equities sales trading and later became the co-head of execution services in the Asia Pacific region. The memo said he was named managing director in 2009 and appointed in 2016 as a partner, the most senior position in Goldman Sachs. A Goldman Sachs spokesperson confirmed the contents of the memo.

☆ The US is sharing a once highly-guarded missile system that will make British and Australian nuclear submarines far more deadly
▼ + stars: | 2023-03-14 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

The US, UK, and Australia on Monday announced plans for Australia to obtain a new fleet of nuclear-powered submarines. The deal will involve building at least eight nuclear-powered submarines for the Australian naval fleet, using UK designs, and underpinned by a US-made vertical launch system. According to reports, the new Australian submarines will also have the capacity to fire cruise missiles through the vertical launch system. The fact that they are nuclear-powered means the submarines can operate at far greater distances, and stay submerged for longer. The new Australian submarines will begin operation in the 2040s, and the new UK subs in the 2030s.

The company showed a preview of a new “Harry Potter” studio tour in the Japanese capital on Wednesday, its first outside the United Kingdom. “We’ve kept it all,” Jeff Nagler, president of worldwide studio operations at Warner Bros., told CNN in an interview in Tokyo. Warner Bros. and CNN share the same parent company, Warner Bros. The films “provided a lot of the profits of Warner Bros. Motion Pictures over the last 25 years,” he told analysts in a November results presentation. “We are very fortunate to have a huge share of the most beloved and globally recognized storytelling IP in the world, including ‘Harry Potter,’” he said.

The agreement will also see U.S. and British submarines deployed in Western Australia to help train Australian crews and bolster deterrence. This first phase of the plan is already underway with the U.S. Virginia-class nuclear-powered attack submarine Asheville visiting Perth in Western Australia, officials said. Briefing a small group of reporters on Friday, Sullivan dismissed China's concerns and pointed to Beijing's own military buildup, including nuclear-powered submarines. 'DOUBLE DIGIT BILLION' INVESTMENTAustralia had agreed to contribute funds to boost U.S. and British submarine production and maintenance capacity, the official said. Australia's nuclear-powered submarine program with the United States and Britain will cost Australia up to A$368 billion ($245 billion) by 2055, a defense official said.

However, further announcements are expected in coming weeks as China implements a reorganisation of its financial regulatory structure and other government bodies. "Opting for continuity in these critical economic roles suggests an emphasis on credibility and stability," said Mattie Bekink, China director at the Economist Intelligence Corporate Network. The U.S.-educated central bank chief Yi, appointed PBOC governor in 2018, had widely been expected to retire after being left off the ruling Communist Party's Central Committee during the party's once-in-five-years congress in October. "It shows China wants to at least have a dialogue with the United States on monetary policy and financial cooperation," he said. The parliamentary session will end on Monday, with Xi expected to give a speech and Li, the new premier, scheduled to hold a televised media conference afterwards.

☆ Rishi Sunak flies to U.S. to advance three-way submarine pact with Australia
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +2 min

LONDON, March 11 (Reuters) - British Prime Minister Rishi Sunak is flying to the United States on Sunday to meet U.S. President Joe Biden and Australian Prime Minister Anthony Albanese in order to finalise details of a submarine pact aimed at countering China. Since the last update in 2021, Russia has invaded Ukraine and tensions with China have risen. Sunak praised the AUKUS alliance on Saturday and said such partnerships exemplified Britain's approach. "In turbulent times, the UK's global alliances are our greatest source of strength and security," he said. Under the initial AUKUS deal announced in 2021, the United States and Britain agreed to provide Australia with the technology and capability for nuclear-powered submarines.

☆ Biden to host Australia and Britain to reveal details of submarine pact to counter China
▼ + stars: | 2023-03-10 | by ( David Brunnstrom | ) www.reuters.com time to read: +6 min

In the early 2030s, Australia would buy three Virginia class submarines and have the option to buy two more. Under the initial AUKUS deal announced in 2021, the United States and Britain agreed to provide Australia with the technology and capability to deploy nuclear-powered submarines. It will be the first time the United States has shared nuclear-propulsion technology since it did so with Britain in the 1950s. Currently no party to the nuclear Non-Proliferation Treaty other than the five countries the NPT recognizes as weapons states - the United States, Russia, China, Britain and France - has nuclear submarines. General Dynamics Corp (GD.N), which makes Virginia class submarines, has 17 of them in its current backlog delivering through 2032.

☆ PREVIEW Biden to host Australia and Britain to reveal details of submarine pact to counter China
▼ + stars: | 2023-03-10 | by ( David Brunnstrom | ) www.reuters.com time to read: +6 min

Two of the officials said that after the annual port visits, the United States would forward deploy some submarines in Western Australia by around 2027. In the early 2030s, Australia would buy three Virginia class submarines and have the option to buy two more. It will be the first time the United States has shared nuclear-propulsion technology since it did so with Britain in the 1950s. Currently no party to the nuclear Non-Proliferation Treaty other than the five countries the NPT recognizes as weapons states - the United States, Russia, China, Britain and France - has nuclear submarines. General Dynamics Corp (GD.N), which makes Virginia class submarines, has 17 of them in its current backlog delivering through 2032.

☆ Australia's nuclear submarine capability to ensure peace, stability -defence minister
▼ + stars: | 2023-03-09 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, March 9 (Reuters) - Australia's nuclear submarines will ensure peace and stability across the Indo-Pacific, southeast Asia and Indian Ocean, Defence Minister Richard Marles said on Thursday ahead of a landmark agreement between Washington, Canberra and London. "Clearly, these submarines will have the capability to operate at war, but the true intent of this capability is to provide for the stability and for the peace of our region," Marles told parliament. AUKUS is expected to be Australia's biggest-ever defence project but it has not been announced whether it will involve a U.S. or a British-designed submarine, or a combination of both. Reuters, citing four U.S. officials, reported on Wednesday Australia was expected to buy up to five U.S. Virginia-class nuclear submarines in the 2030's as part of AUKUS. Reporting by Renju Jose in Sydney; Editing by Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

☆ Biden budget plan includes billions aimed at countering China
▼ + stars: | 2023-03-09 | by ( Simon Lewis | ) www.reuters.com time to read: +2 min

WASHINGTON, March 9 (Reuters) - The Biden administration's budget plan put forward on Thursday includes requests for billions of dollars of funding for the Indo-Pacific region aimed at countering China through infrastructure investments and other support for U.S. partners and allies in the region. Biden's budget proposal already faces stiff opposition from Republican lawmakers, although party leaders generally support efforts to counter China. The budget proposal for 2024 includes $400 million for a fund to "counter specific problematic PRC behaviors globally," according to a State Department fact sheet. The administration is requesting mandatory spending, in addition to traditional discretionary funding, including $2 billion to support infrastructure projects and $2 billion to strengthen Indo-Pacific economies and support partners to push back against China, Bass said. The budget also includes funding to expand the U.S. presence in the Pacific Islands, a region where Washington is competing with growing Chinese influence, he said.

[1/2] Australian Prime Minister Anthony Albanese attends the APEC Leader's Dialogue with APEC Business Advisory Council during the Asia-Pacific Economic Cooperation (APEC) summit, Friday, Nov. 18, 2022, in Bangkok, Thailand. Sakchai Lalit/Pool via REUTERS/File PhotoSYDNEY/WASHINGTON, March 8 (Reuters) - Australian Prime Minister Anthony Albanese said on Wednesday he will visit the United States to meet President Joe Biden after a trip to India this week. "I look forward to the continuing engagement that I have with the U.S. administration," Albanese told reporters before leaving for India, without giving a date for his U.S. trip. Ashley Townshend, an Australian Defense expert at the Carnegie Endowment for International Peace think tank, said a new information-sharing agreement would be needed for the submarine program's implementation stage. Albanese will reach India later on Wednesday and will stay until Saturday in the first visit by an Australian prime minister since 2017.

NEW DELHI/SYDNEY, March 8 (Reuters) - Australia’s Prime Minister Anthony Albanese arrives in India on Wednesday seeking to strengthen the new momentum in ties between the two countries through deeper trade, investment and defence relations. Quad includes the United States and India besides Australia and Japan. Australia is due to host a Quad leaders summit in Sydney later this year. “India and Australia share warm and friendly relations based on common values and democratic principles. Australian Minister for Trade and Tourism Don Farrell is a part of Albanese’s delegation and the visit is expected to provide an opportunity to hasten the ambitious deal.

Lavrov also said the question of when Russia will negotiate an end to the war should be put to Ukraine President Volodymyr Zelensky. Earlier in the day Blinken had met with his counterparts from the Quad, as the grouping is informally called, and they issued a statement saying "the use or threat of use of nuclear weapons is inadmissible". Late last month, Russian President Vladimir Putin suspended a landmark nuclear arms control treaty and threatened to resume nuclear tests. During their brief exchange on the sidelines of the G20 meeting on Thursday, Blinken told Lavrov to end the war and urged Moscow to reverse its suspension of the New START (Strategic Arms Reduction Treaty) on nuclear weapons. China has denounced the Quad as a Cold War construct and a clique "targeting other countries".

☆ Defence contractors target Australia as it gears up to counter China
▼ + stars: | 2023-03-02 | by ( Jamie Freed | ) www.reuters.com time to read: +4 min

The firms are pushing for billions of dollars' worth of purchases expected after Australia's long-awaited defence strategic review (DSR) is made public next month, setting out the force structure and equipment required over the next decade. The government's aim is to "speed up the acquisition cycle" and move as quickly as possible once the review is public, Defence Industry Minister Pat Conroy told reporters on Wednesday. Australia ranked 12th globally in military spending in 2021 at $31.8 billion, according to the Stockholm International Peace Research Institute. Lockheed was selected last year alongside Raytheon Technologies Corp (RTX.N) to accelerate the manufacture and delivery of guided weapons to Australia. In-country assembly, and eventually manufacturing, are a focus of the project that aims to build local stockpiles, said Ken Kota, vice president of Lockheed's Australian defence strategic capabilities office.

☆ Defense contractors target Australia as it gears up to counter China
▼ + stars: | 2023-03-02 | by ( ) www.cnbc.com time to read: +1 min

As close U.S. ally Australia gears up to counter China's growing influence in the Indo-Pacific region, global defense contractors this week showed off advanced drones, long-range missiles and military communications satellites at its biggest air show. The firms are pushing for billions of dollars' worth of purchases expected after Australia's long-awaited defense strategic review, or DSR, is made public next month, setting out the force structure and equipment required over the next decade. Malcolm Davis, senior analyst in defense strategy and capability at the Australian Strategic Policy Institute, said securing long-range strike weapons in three to five years should be the priority given China's growing threat to Taiwan and the high likelihood of Australia joining the U.S. in a fight. "When the DSR comes out there will be diplomatic language that doesn't necessarily squarely target China by name, but I think everyone gets the reality this has been driven by China, its rapid growth and its military capabilities," he said on the sidelines of the Australian International Airshow near Melbourne. Like other countries, Australia is also focusing increasingly on securing more local production and supply stocks after observing the depletions caused by the war in Ukraine.

Takeda CFO Costa Saroukos in a 2018 picture. Mr. Saroukos joined Takeda in 2015 as CFO of Takeda’s European and Canadian operations before he was elevated to global CFO in 2018. WSJ: What did you learn from your deal-integration experiences that helped with the Takeda and Shire integration? ” — Costa Saroukos, CFO of TakedaAnother reason speed is important is to avoid losing talent. We broadened CFOinUrpocket to be used globally across 80 countries for the combined Takeda and Shire offices.

[1/2] Customers shop at a mall ahead of the Chinese Lunar New Year, in Beijing, China January 15, 2023. REUTERS/Tingshu Wang/File PhotoLONDON/MILAN/FRANKFURT/NEW YORK, March 1 (Reuters) - The world's top consumer and luxury goods companies have seen sales of everything from cosmetics to condoms grow in China since Beijing ended strict COVID-19 curbs, another sign that the world's No. Tourism from China was helping sales in neighbouring Macau, Hong Kong, Taiwan and even Japan, he added. Reckitt Benckiser, which makes Nurofen tablets, cold remedy Lemsip and Durex, saw a pick-up in China after a decline in volumes because of lockdowns. U.S. retailer Walmart Inc (WMT.N), which operates nearly 400 retail and wholesale stores in China, reported strong traffic in its stores since reopening.

☆ Benioff more than delivers with Salesforce's fourth-quarter beat and sky-high guidance
▼ + stars: | 2023-03-01 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Club holding Salesforce (CRM)'s fiscal fourth-quarter results crushed expectations across the board Wednesday, while its forward guidance made clear CEO Mark Benioff is uniquely positioned to deliver profitability at the enterprise software pioneer. Operating cash flow surged nearly 41% from the previous year, to $2.79 billion, beating estimates of $2.5 billion. Benioff said management is "reigniting [Salesforce's] performance culture" and doubling down on the accountable management of its sales organization, while reducing headcount and consolidating the company's real estate footprint. The company is trying to better integrate acquisitions and prioritizing those "core innovations that are driving customer success," Benioff said. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Lockheed Martin hopes to deliver more F-35s to Australia
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, Feb 28 (Reuters) - Lockheed Martin Corp (LMT.N) hopes Australia wants to buy more of its F-35 fighter planes after the country completes an ongoing defence review, an executive at the U.S. manufacturer said on Tuesday. "We hope for the opportunity to deliver additional F-35s beyond" the 72 Australia has on order, Executive Vice President of Aeronautics Greg Ulmer told reporters on the sidelines of the Australia International Airshow. Ulmer also said Lockheed has had initial talks with Australia about teaming the F-35 with Boeing Co's (BA.N) MQ-28 Ghost Bat fighter-like drone. Australia has purchased 72 Lockheed F-35A jets to form three squadrons, with all aircraft scheduled to be fully operational this year. A defence strategic review considering Australia's future force posture - including the possible purchase of a fourth squadron of F-35 jets - was handed to the government on Feb. 14.

☆ Goldman Sachs executives to rally investors in New York
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +6 min

[1/2] A Goldman Sachs sign is seen above their booth on the floor of the New York Stock Exchange, January 19, 2011. REUTERS/Brendan McDermid/File PhotoNEW YORK, Feb 28 (Reuters) - Goldman Sachs Group Inc's (GS.N) Chief Executive David Solomon and top executives will give investors an update on their strategy on Tuesday. DAN DEES, CO-HEAD OF GLOBAL BANKING & MARKETS, 52Dan Dees is the co-head of Goldman's global banking and markets division. JULIAN SALISBURY, CHIEF INVESTMENT OFFICER OF ASSET AND WEALTH MANAGEMENT, 51Julian Salisbury is chief investment officer of Goldman's asset and wealth management unit. KIM POSNETT, CO-HEAD OF ONE GOLDMAN SACHS, 45Kim Posnett is co-head of One Goldman Sachs, the company's program to unify its approach to clients across divisions.

☆ Why the dollar keeps winning in the global economy
▼ + stars: | 2023-02-28 | by ( Francesco Guerrera | ) www.reuters.com time to read: +7 min

The outsized role played by the United States in capital markets, trade and debt reinforces the status quo. Unless the global economy undergoes a complete overhaul, the dollar will remain on top. America may have never “run on Dunkin’”, as the donut-maker’s slogan claimed, but the global economy runs on the dollar. The United States has spurred the search for alternatives by wielding its currency as a weapon against its adversaries. The greenback’s function as the lubricant of global economic activity has another important effect: a stronger dollar curbs global trade.

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