FirstFT: Joe Biden vows ‘unwavering support’ for Ukraine

US president Joe Biden made a shock go to to Kyiv on Monday in a present of American dedication forward of the primary anniversary of Russia’s invasion of Ukraine.

On a visit shrouded by secrecy for safety causes after months of planning, Biden introduced $500mn in new navy support.

“I’m right here to point out our unwavering assist for the nation’s independence, sovereignty and territorial integrity,” Biden stated, vowing to face with Ukraine for “so long as it takes”.

The stopover got here at a pivotal second within the battle, as western nations talk about how far to go in arming Kyiv and because the 80-year previous president gears up for a potential re-election marketing campaign.

Ukraine is asking for the speedy supply of billions of {dollars} in western weapons, whereas Russia has elevated assaults and is getting ready a bigger offensive, though its progress has been halting up to now.

President Volodymyr Zelenskyy thanked Biden for coming at “probably the most troublesome time” for his nation. “This dialog brings us nearer to victory,” Zelenskyy stated at a joint look at Mariinsky Palace, his official residence.

• FT subscriber occasion: To mark the primary anniversary of Russia’s full-blown invasion of Ukraine, the FT will probably be holding an unique webinar for subscribers to debate the way forward for the battle, with FT correspondents and particular company. Register for free.

5 extra tales within the information

1. Recent tremors hit earthquake-devastated province in Turkey Two tremors measuring 6.4 and 5.8 in magnitude struck the province of Hatay yesterday, two weeks after the area was devastated by bigger earthquakes that killed virtually 45,000 folks.

2. China’s prime diplomat to debate Ukraine battle throughout Moscow go to Wang Yi, China’s most senior overseas coverage official, will talk about the battle in Ukraine with senior Russian officers this week and should meet Russian president Vladimir Putin, the Kremlin stated yesterday. The announcement comes a day after the US warned that Beijing was “strongly contemplating” supporting Russia’s sputtering battle effort with arms provides.

3. Hong Kong proposes letting retail buyers commerce cryptocurrencies Underneath plans launched yesterday by the Hong Kong Securities and Futures Fee, the trade’s two largest crypto tokens — bitcoin and ether — could be opened up to retail customers. Licensed exchanges could be required to make sure shoppers have “enough data of digital belongings” earlier than they’re allowed to commerce.

4. World Financial institution members break up on reforms Creating nations have warned against reforms on the World Financial institution that may imperil its triple-A credit standing and improve funding prices after Trump appointee David Malpass’s early departure. Shareholders and economists have argued the financial institution may present extra local weather finance by increasing its stability sheet and taking up extra danger.

5. South Korea’s ruling get together chief hints at want for nuclear weapons Chung Jin-suk, the chief of South Korea’s ruling Folks Energy get together, has warned that the nation might should “seriously consider” creating its personal nuclear weapons as a deterrent to its northern neighbour. North Korea as we speak fired two short-range ballistic missiles, following the launch on Saturday of what Pyongyang claimed was a Hwasong-15 intercontinental ballistic missile, which specialists consider is able to putting the mainland US.

The day forward

Putin speaks on battle Immediately, Russia’s president Vladimir Putin will tackle the battle in Ukraine and its affect on Russian society in a delayed state-of-the-nation address, the Kremlin stated.

Financial knowledge Gross home product is the primary US knowledge level as we speak and minutes from the final Federal Reserve’s assembly land tomorrow.

Public sector finance UK public-sector borrowing figures for January are out as we speak. Will increase in debt curiosity and spending on power assist schemes made final month’s launch the very best month-to-month complete since information started in January 1993.

Firms Final week NatWest introduced an virtually tripling of earnings pushed by larger rates of interest. These must also increase earnings for HSBC and Lloyds Banking Group after they report as we speak and tomorrow.

What else we’re studying

America’s wrestle to include the lethal drug Fentanyl US mother and father are mourning the deaths of their youngsters amid an unprecedented medicine disaster, which claimed 107,000 lives within the 12 months to August 2022. About two-thirds of these deaths have been brought on by fentanyl, an artificial opioid that’s 50 instances stronger than heroin and used to deal with extreme most cancers ache. However it’s more and more being minimize into unlawful avenue medicine by way of a well-honed supply chain constructed by Chinese language and Mexican crime syndicates.

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Britain can be taught from Singapore on financial savings The UK invests too little. Naturally, this has led to a dialogue of the way to induce extra funding. But how would the additional funding be funded by a rustic that’s much more strikingly wanting financial savings than it’s of funding? Singapore’s model could possibly be the reply, writes Martin Wolf.

Lacking Chinese language dealmaker casts chill throughout tech sector The disappearance of Bao Fan, founding father of funding financial institution China Renaissance, has set on edge the nation’s huge tech trade that the dealmaker helped construct. Bao’s destiny is a pivotal take a look at of Beijing’s stance on the sector — a two-year crackdown has already sidelined Alibaba chief Jack Ma, decimated the huge for-profit schooling trade and hit investments globally.

CEO whisperers: who does the boss flip to of their hour of want? Some leaders use trusted insiders, others depend on “skilled critics” to inform them uncomfortable truths. Oliver Balch spoke to a spread of chief executives to hear their stories. “CEOs typically lack candid problem . . . and as a substitute find yourself in a bit of echo chamber, which is when firms are at risk of getting issues horribly unsuitable,” stated one CEO.

Take a break from the information

After years spent as a “bottle brunette”, Grace Prepare dinner determined to reclaim her identity as a blonde and love her pure hair.