China's Exports Surge in Jan-Feb Despite Waning Trade with the U.S.

China's exports jumped nearly 22% in the first two months of the year from a year earlier, powered by a surge in shipments of computer chips, autos and electronics, the Associated Press reported. The export figures released by China’s customs agency on Tuesday were much better than economists had forecast. They far exceeded the 6.6% annual pace of growth recorded in December. Shipments to the U.S. fell 11% in January and February, narrowing from a 30% drop in December. Exports to the European Union increased almost 28% while those to Latin America climbed 16%.
China
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U.S. Reaches Tentative Deal Ending Prosecution of Turkish Bank

The Trump administration has reached a tentative deal to drop criminal charges against a Turkish bank over whether it had done business with Iranian entities, saying it deserved leniency because of Turkey’s help in negotiating the release of hostages from the Hamas attack in Israel in October 2023, the New York Times reported. The proposed settlement for the state-run bank, Halkbank, would bring an end to a case in which prosecutors had charged it with illicitly transferring about $20 billion worth of otherwise restricted Iranian funds.
United States
Turkey
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Japan Bankruptcies Reach 13-Year High in February

The number of corporate bankruptcies in Japan involving liabilities of at least ¥10 million ($63,000) totaled 851 last month, the highest level in 13 years for a February, Tokyo Shoko Research said Monday, the Japan Times reported. The figure marked a year-on-year rise of 11.3% and the third consecutive monthly increase, driven in part by worsening business conditions that reflected sluggish sales and growing labor shortages. By industry, the service sector saw the largest increase, climbing 30.9% to 309 cases.
Japan
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For China, Billions of Dollars Are at Risk From a Widening War

With oil prices surging and the conflict in the Middle East intensifying, the economic stakes for China are rising, the New York Times reported. The cost of oil on Monday hit levels not seen in four years, one week after the United States and Israel launched an attack on Iran, an ally and financial partner to China. Fighting has halted virtually all traffic through the Strait of Hormuz, a critical passageway for China’s energy and goods. China has a lot to lose in a widening conflict. In Iran, China found a cheap source of oil in recent years.
China
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Kazakhstan Central Bank to Invest Up $350 Million in Crypto Assets

Kazakhstan's central bank has formed a portfolio of up to $350 million ​from gold and foreign exchange reserves ‌for investment in cryptocurrency assets, governor Timur Suleimanov said on Friday, Reuters reported. At a briefing on interest ​rates, Suleimanov said: "We are currently developing ​a list of instruments in which we ⁠will invest.
Kazakhstan
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