News in Brief
China’s economy expected to rebound
AFP – China is expected to announce an economic rebound today, when Beijing releases its first quarterly GDP figures since abolishing growth-sapping Covid restrictions late last year.
The disclosures on Tuesday will give the first snapshot since 2019 of a Chinese economy unencumbered by public health restrictions, with analysts polled by AFP expecting an average of 3.8 percent year-on-year growth in the period from January through March.
Bangladesh
to pay Russia
in yuan
REUTERS – Bangladesh and Russia have agreed to use yuan to settle payment for a nuclear plant Moscow is building in the South Asian country, a Bangladesh government official said on Monday.
Bangladesh is constructing the first of two nuclear power plants in collaboration with Russia’s state-owned atomic company Rosatom in a $12.65 billion project, 90 per cent of which is financed through a Russian loan repayable within 28 years, with a 10-year grace period.
Deutsche Bank rejects EU plans
CNBC – Deutsche Bank Chief Executive Christian Sewing on Monday rejected plans by the European Union to update bank resolution rules and warned that stricter regulation would boost the “shadow banking sector”.
Sewing said the shift toward making resolution the standard instrument for bank crisis management “would be at the expense of our well-functioning national deposit guarantee scheme”, according to prepared remarks for the German bank lobby’s annual press conference.