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FirstFT: US Senate approves $40bn Ukraine aid package 

 May 11, 2022

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The U.S. Senate Approved $ 40 billion With fresh military, economic and humanitarian aid to Ukraine yesterday, while Russia is pressing offensive In the Donbas area.

The vote went 86-11 after a week-long delay, despite opposition from a handful of America First Republicans. U.S. President Joe Biden is now expected to quickly sign the move, releasing vital aid as the war enters its fourth month.

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The $ 40 billion package is more than the $ 33 billion Biden requested three weeks ago, and includes increased spending on protection and humanitarian aid.

Biden welcomed the passage of the bill and said that the actions of Congress ensure that there will be no damage to funds for Ukraine. The president will sign the move as soon as it is officially handed down by the Senate.

More than half of the funds in the new package were earmarked for arms, equipment and military funding for Ukraine, as well as for restoring U.S. arms inventory and supporting European Command operations.

Thank you for reading FirstFT Asia. Here’s the rest of today’s news – Sarah

Sri Lanka is repaying foreign debts for the first time The Bank of Sri Lanka has confirmed that the country has missed a deadline for foreign debt repayments, deepening the economic and political crisis. The island – which has never failed before – is a must $ 51 billion in debt abroad For bilateral creditors and international bondholders.

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2. The Russian unit of Google will file for bankruptcy American Technology Group Plans to file for bankruptcy After authorities in the country seized her bank account, saying it had become “unbearable for our office in Russia to function”. Google has said it will continue to provide free services, including search, YouTube, Gmail, Maps, Android and Play, to users in Russia.

3. Joe Biden proposes to step up alliances in Asia U.S. President Visiting South Korea and Japan When concerns arise about a possible Chinese military action against Taiwan. Biden is expected to address these concerns and reassure countries whose administration has not diverted attention from China, which he called his Top foreign policy challenge.

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4. Leaders of luxury goods gambled in the prosperous US will offset the harm to China Some investors fear that Cubid-19 locks in China, sanctions on Russia and the global cost of living crisis could hurt demand for luxury goods. but Two senior executives The industry insisted that their business would continue to grow and that the faltering Chinese demand would recover.

5. The new president of the UAE seizes power as speculation in the dynasty swirls Sheikh Muhammad, known as MBZ, could Break the tradition And choose his son, and not one of his brethren, as crown prince. “MBZ is already doing centralization – it will be hyper-centralization,” said Cinzia Bianco, a research fellow on Europe and the Gulf.

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The days ahead

Japan Consumer Price Index data for April The consumer price index last month should be loose Today.

Ukraine The foreign ministers of the 46 member states of the Council of Europe are meeting today in Turin to discuss them Comment Russia’s invasion of Ukraine.

Biden in Asia The President of the United States begins his First trip to Asia on duty. He will meet today the new President of South Korea, Ion Suk-Yaul. On Sunday, Biden will travel to Japan for talks following a series of North Korean weapons tests.

Elections in Australia Australians will vote in federal elections on Saturday. The incumbent Liberal-National Coalition government – led by Prime Minister Scott Morrison – is being challenged by the Labor Party. (The guardian)

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What else are we reading

China’s explosion reflects divisions between policymakers In Beijing, rival factions Struggling for influence In a new regulatory storm. The struggle is between party and government officials who focus on economic growth and those who are more concerned about security and control, echoing internal struggles and policy guesses that have plagued China under Mao Zedong.

© Greg Baker / AFP / Getty Images

The Twitter deal leaves Alon Musk no easy way out Can Tesla’s boss move away from his $ 44 billion Twitter offer? Since the richest man in the world seems to have second thoughts, the modern “bullet block” employment agreement faces one of its biggest tests. Read our explanatory.

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The Russian network is helping Ukrainians escape A network of Russian volunteers, including anti-war activists, operates mainly by word of mouth and the Telegram messaging app Help thousands of Ukrainian refugees Get out of the Russian displacement camps.

The Japan Corporation fears the surfer A weak currency has long been a boon to corporate Japan, especially to large exporters. But when Russia’s invasion of Ukraine causes a spike in commodity prices, the spectacular fall of the yen is suddenly Become a threat.

There is a moral case against crypto Digital coin mining is not “just a little harmless fun”, Writes Jamima Kelly. The recent crypto crash should be an opportunity to reflect on the environmental, financial and psychological damage caused by coin mining, from an increase in e-waste to suicide attempts.

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Games

Being a city planner in real life sounds both complex and stressful. So why is it so much fun in the form of a game? Balancing resources and addressing the diverse needs of citizens Can be a satisfying puzzle. And in recent years, city builders have become more complex and environmentally minded.

‘Cities: Skylines’ is the modern successor to the original city-building game, ‘SimCity’

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