FirstFT: Zelenskyy calls on G7 for air defences after Russian strikes

Volodymyr Zelenskyy referred to as on the G7 nations to velocity up provides of air defence methods after one other day of a Russian missile barrage struck civilian and infrastructure targets throughout Ukraine.

The Ukrainian president’s plea got here throughout a video convention held by the G7 leaders, together with US president Joe Biden. Zelenskyy advised the group Russia “has fired greater than 100 cruise missiles and dozens of assorted drones” over the previous two days, many hitting cities which have been freed from assaults for months.

“When Ukraine obtains sufficient trendy and efficient surface-to-air defence methods, the important thing component of Russian terror — missile assaults — will not work,” he mentioned.

The second Russian fusillade gave the impression to be much less intense than the nationwide bombings on Monday that left dozens of Ukrainian civilians useless in a number of the nation’s largest cities.

Russian president Vladimir Putin mentioned strikes this week have been ordered “on the defence ministry’s suggestion”, pointing to the newly appointed commander of Moscow’s invasion forces, Sergei Surovikin, a hardline basic who has earned nicknames comparable to “the fierce one” and “Common Armageddon”.

Do you suppose G7 nations ought to velocity up provides of air missile defence methods for Ukraine? Inform us in our newest ballot. Thanks for studying FirstFT Asia. — Emily

5 extra tales within the information

1. IMF forecasts ‘very painful’ outlook for world financial system The IMF has mentioned there’s a rising threat that the world financial system will slide into recession subsequent yr as households and companies in most nations face “stormy waters”. A confluence of financial headwinds will decrease world development from 3.2 per cent in 2022 to 2.7 per cent subsequent yr, the fund predicted.

2. Biden to ‘re-evaluate’ Saudi relations, White Home says US president Joe Biden is re-evaluating America’s relationship with Saudi Arabia after the Opec+ resolution final week to chop oil manufacturing, a prime White Home adviser has mentioned, as tensions between Washington and Riyadh proceed to rise.

3. Bailey guidelines out extending Financial institution of England intervention Financial institution of England governor Andrew Bailey dashed pension funds’ hopes, saying the Financial institution of England wouldn’t proceed its £65bn bond-buying intervention into subsequent week. Bailey mentioned that though strains had been felt, market circumstances within the authorities bonds “appeared calmer” after it had staged its second emergency intervention in two days.

4. EU cautions Hong Kong on sanctioned Russian superyacht Hong Kong could possibly be serving to Russian billionaire Alexei Mordashov who has moored his superyacht within the metropolis’s harbour evade EU sanctions, the bloc’s diplomats within the metropolis warned after the Chinese language territory mentioned it might not be taking motion in opposition to the ship.

5. Uber and Lyft slide after US proposes new gig work rule Shares within the largest gig financial system firms within the US tumbled after the Biden administration proposed a rule that will make it extra seemingly that gig employees can be labeled as staff as a substitute of unbiased contractors. Experience-hailing app Uber fell as a lot as 16.7 per cent, whereas shares in Lyft and DoorDash hit report lows throughout buying and selling in New York on Tuesday.

The day forward

India financial knowledge Month-to-month industrial manufacturing and shopper value index inflation knowledge can be launched at the moment. The IMF yesterday projected 6.9 per cent shopper value inflation this yr. See how your nation compares on rising costs with our inflation tracker. (Hindustan Instances, FT)

Israeli officers talk about Lebanon deal Israel’s safety cupboard and authorities will meet at the moment to approve particulars of the take care of Lebanon over the nations’ maritime border. The nation’s parliament will then have 14 days to overview it earlier than the deal returns to the federal government for remaining approval.

Anniversary of Bali nightclub bombings As we speak marks the 20 years because the Bali nightclub bombing that killed greater than 200 individuals and injured greater than 200 others. The Australian authorities will host a memorial service at the moment.

Nato assembly The group will host a gathering of western nations supplying arms to Ukraine at the moment.

What else we’re studying

Kishida backs BoJ’s ultra-loose coverage regardless of yen plunge In an interview with the Monetary Instances, Japanese prime minister Fumio Kishida mentioned the Financial institution of Japan wanted to keep its coverage till wages rose. Kishida mentioned he would proceed to “work carefully” with Haruhiko Kuroda, ruling out hypothesis he would finish the BoJ governor’s time period prematurely.

China property disaster spoils Communist occasion’s triumph As China’s Communist occasion congress meets this weekend to rejoice its achievements over the previous 5 years, economists can be watching for a way Beijing plans to confront its most momentous financial problem: its property disaster. The CCP congress might reveal some clues.

Ben & Jerry’s vs Unilever The ice cream maker’s resolution to finish its franchise deal in Israel to stop its product from being bought in occupied Palestinian territories has positioned it at odds with its dad or mum firm, turning a star acquisition right into a authorized nightmare for Unilever.

Thoughts the hole! What girls must learn about investing On this Cash Clinic Funding Masterclass, Emilie Bellet, founding father of VestPod, talks to host FT shopper editor Claer Barrett about how one can get began investing, when to begin saving for a pension and why a number of the myths round girls buyers are simply that.

Most individuals don’t know what GDP development is Liz Truss is all about development in gross home product, writes Sarah O’Connor. However the issue is most individuals don’t know what GDP development is (not to mention care about it) and the market response to Truss’s unfunded tax cuts affected issues like mortgage charges — which actually matter to individuals.

Vogue

Why are we nonetheless obsessive about inexperienced? “The style business didn’t invent our want for inexperienced, it simply learn the room. It’s certainly not a coincidence that inexperienced is the decreed color of environmentalism, one thing the style business has an ungainly relationship with,” writes Kate Finnigan.