US to bolster defence against Chinese cyber attacks

Good morning and welcome again to FirstFT Asia. Right here’s what we’re protecting immediately:

• US will increase its defence in opposition to Chinese language cyber assaults

• India encourages extra oil and fuel exploration

• Japan’s rocky experience to financial normalisation

• Dubai’s thriving property market

The US Federal Communications Fee is making a nationwide safety council to bolster defences in opposition to Chinese language cyber assaults and assist it keep forward of China in essential applied sciences, akin to synthetic intelligence.

Brendan Carr, the brand new FCC chair, stated he was establishing the council to step up the company’s deal with the “persistent and fixed menace from international adversaries, notably the Chinese language Communist occasion”.

“These dangerous actors are at all times exploring methods to breach our networks, units and expertise ecosystem. It’s extra vital than ever that the FCC stay vigilant and defend People and American corporations from these threats,” he stated.

He added that as a result of the threats reduce throughout sectors that the fee regulated, “it’s important that the FCC’s nationwide safety efforts pull sources from a wide range of FCC organisations”.

Read more on how the council will aim to prevent cyber attacks, espionage and surveillance by hostile states.

Right here’s what else is occurring immediately:

• FT Stay Wealth Administration Summit Asia: Be a part of us in-person in Singapore or on-line. Register here.

• IEA information: The Worldwide Vitality Company will challenge its oil market report

• Holi: At present marks the beginning of the two-day Hindu pageant of colors, celebrating the arrival of spring and the triumph of fine over evil.

5 extra high tales

1. Russian President Vladimir Putin visited Kursk, the place his military chief instructed him Moscow’s forces are on the verge of retaking the Ukrainian-held border area. Simply hours after Ukraine agreed to a US proposal for a 30-day ceasefire in its warfare with Russia, Putin ordered the military to drive Ukraine’s forces out of the realm “within the shortest time attainable”. Here are the latest developments in the war.

2. India has handed laws supposed to encourage oil and fuel exploration to assist meet its vitality wants. The transfer that highlights the problem of persuading the world’s most populous nation to section out fossil fuels. India, the world’s third-largest carbon polluter, has confronted increasing pressure from abroad to reduce emissions.

3. The EU and Canada retaliated in opposition to US President Donald Trump’s 25 per cent tariffs on metal and aluminium inside hours of them taking impact. Listed here are the details of how the countries hit back, and what it means for the worldwide financial system.

• Extra on commerce coverage: Two of Wall Avenue’s most outstanding executives have stated there are upsides to Trump’s tariff policies.

• US financial system: US inflation fell more than expected to 2.8 per cent in February, bolstering the case for the Federal Reserve to chop rates of interest amid indicators of slowing progress on the earth’s largest financial system.

4. Alliances between New Delhi, Washington and India’s telecom tycoons Mukesh Ambani Sunil Mittal are rising deeper. Ambani’s Reliance Jio, India’s largest cell operator, on Tuesday adopted Mittal’s Bharti Airtel, the number-two participant, in saying plans to distribute SpaceX’s satellite tv for pc web service. The tie-ups may additional smooth the entry of Musk’s business interests into India.

5. China’s Ministry of Commerce has summoned Walmart executives over studies the US retailer requested its suppliers to chop costs in response to Trump’s tariffs, in line with state media. The discussions, reported on Wednesday by a social media account affiliated with state-run China Central Tv, spotlight mounting geopolitical risks for big US companies in China.

At present’s massive learn

China has lengthy taken a distinct path from western nations with regards to worldwide improvement, focusing much less on humanitarian help and extra on financing grand infrastructure initiatives. Because the US and UK slash their international help programmes, will Beijing’s strategy win China the influence its long sought in Africa?

We’re additionally studying . . . 

Chart of the day

Japan is present process its largest financial inflection in over three a long time. Whereas many different international locations have fought to maintain inflation down, in Japan its return has been inspired. Policymakers goal to foster a virtuous cycle of rising costs and wages that would spur demand and generate average and regular progress. However, regardless of some optimistic indicators, it has been a bumpy ride.

Take a break from the information . . . 

Dubai’s property market is prospering — and its neighbours are taking notes. Property costs within the metropolis have elevated 147 per cent in 5 years amid hovering skylines and a rush of recent residents. Whereas it’s an inspiration to some, for others it’s become a cautionary tale.