• Former U.S. President Donald Trump was indicted on more than 30 counts related to business fraud by a Manhattan grand jury examining his alleged role in a hush-money payment scheme involving adult film star Stormy Daniels. The legal action, which marks the first time a current or former U.S. president has ever faced criminal charges, jolts the 2024 presidential election into a new phase, as Trump has vowed to continue running in face of the indictment. (CNN)
• China’s ambassador to the European Union said European countries should “resist the unwarranted pressure from the U.S.” to curb trade with Beijing and hinted that China would retaliate if the Netherlands goes ahead with imposing export restrictions on its high-end semiconductor-making technology this year. (Financial Times)
• The White House accused Russia of seeking to trade food for munitions with North Korea as the former faces battlefield shortages and the latter a serious food crisis. The Russian private mercenary company known as the Wagner Group, whose troops fight side-by-side with Russian forces in Ukraine, has already received arms from North Korea. (The Associated Press)
• Turkey’s parliament voted to approve Finland’s accession to NATO, clearing the way for the formerly neutral country to enter the alliance after a monthslong delay. Sweden, which originally planned to join NATO simultaneously with Finland, is still facing objections from Hungary and Turkey. (Financial Times)

Eurozone Inflation Continues to Fall, as Energy Prices Ease

The New York Times

Quarter of emerging countries lose effective access to debt markets

Martha Muir, Financial Times 

Banking turmoil has driven up spreads on sovereign bond yields over US Treasuries to levels that impair ability to raise funds.

US-China decoupling is hurting innovation, World Bank warns

Edward White and Mercedes Ruehl, Financial Times 

Multilateral lender warns on the costs of limiting tech flows as it sets out lower Asia growth forecast for 2023.

Huawei will support ‘all’ of China’s efforts on chip self-reliance

Lauly Li, Nikkei Asia 

Rotating chairman says tech giant will continue to work on supply chain continuity.

Taiwan speeds up preparation for potential conflict with China

Radio Free Asia 

In July, Taiwan’s military will hold its first drill at a civilian airport, turning highway sections into runways.

Japan to restrict semiconductor equipment exports as China chip war intensifies

Leo Lewis and Kana Inagaki, Financial Times 

Tokyo aligns with Washington in move expected to significantly curtail activity by Beijing.

China rolls over $2 bln loan to Pakistan as it struggles with external liquidity

Asif Shahzad and Ariba Shahid, Reuters 

Pakistani Finance Minister Ishaq Dar said on Friday China had rolled over a $2 billion loan that matured last week, providing relief during the South Asian nation’s acute balance of payment crisis.

China only bright spot as World Bank cuts ASEAN growth outlook

Francesca Regalado, Nikkei Asia 

RCEP to deliver more gains than CPTPP, but risks U.S. economic distancing.

Myanmar military’s attempt to co-opt Suu Kyi-led party fails

Nikkei Asia 

Dissolution of NLD marks a fundamental change in pro-democracy movement.

China calls US debt trap accusation ‘irresponsible’

Eduardo Baptista and Kanishka Singh, Reuters 

China on Thursday called remarks by U.S. Treasury Secretary Janet Yellen “irresponsible” and “unreasonable” after Yellen said Beijing’s lending activities leave developing countries “trapped in debt.”

Malaysia’s top court refuses ex-PM Najib’s bid for review

The Associated Press 

Malaysia’s top court refused Friday to review its 2022 decision to uphold former Prime Minister Najib Razak’s conviction for graft and 12-year jail sentence, saying he was “the author of his own misfortune.”

Exclusive: Elon Musk plans China visit, seeks meeting with premier

Zhang Yan and Julie Zhu, Reuters 

Tesla (TSLA.O) Chief Executive Elon Musk is making plans to visit China as early as April and is seeking a meeting with China’s Premier Li Qiang, two people with knowledge of planning for the trip told Reuters.

Chinese Christians Detained in Thailand While Seeking U.N. Protection

Chun Han Wong, The Wall Street Journal 

Two U.S. citizens taken in alongside 63 church members, who say they faced years of government harassment in China.

In Arrest of US Reporter, Russia Doubles Down on Isolation From West 

Anton Troianovski, The New York Times 

The Kremlin, which accused a Wall Street Journal correspondent of being a spy, made a move not seen since the Cold War, further raising the barriers between Russia and the West.

One year ago, scenes of horror emerged from Ukraine’s Bucha

The Associated Press 

The cratered roads have been repaved and the damaged houses are gradually being repaired. But the scenes that emerged from this town near Kyiv a year ago, after it was retaken from Russian forces, have indelibly linked its name to the savagery of war.

Young French Protesters Worry About Their Parents’ Retirement, Not Their Own

Noemie Bisserbe and Stacy Meichtry, The Wall Street Journal 

The question of whether there will be pension checks to collect decades from now has taken a back seat in the minds of many young people.

Greek defense minister to visit Turkey as tension wanes

The Associated Press 

Greece’s defense minister announced Thursday that he will travel to neighboring Turkey next week as part of an effort to ease tension between the two NATO members, which have long-standing and often volatile disputes.

UK minimum wage to increase 9.7% in ‘real-terms pay boost’

Delphine Strauss, Financial Times 

Low-paid workers will get a rise in April that is expected to exceed the rate of inflation.

Shadowy brokers walk off with billions in Venezuelan oil

Regina Garcia Cano and Joshua Goodman, The Associated Press

Venezuelans are asking how more than $20 billion in proceeds from oil shipments seemingly vanished.

Days After Netanyahu Fired Him, Israel’s Defense Minister Is Still on the Job

Patrick Kingsley and Ronen Bergman, The New York Times 

Yoav Gallant, Israel’s defense minister, was fired on Sunday, setting off unrest, but Prime Minister Benjamin Netanyahu never formally confirmed his dismissal.

China’s global influence looms over Harris trip to Africa

Chris Megerian et al., The Associated Press 

When Vice President Kamala Harris touches down in Lusaka, Zambia on Friday for the final stop of her weeklong trip across Africa, she’ll see a glittering new airport that’s doubled in size.

Kenya opposition in fresh protests amid government warning 

Evelyne Musambi, The Associated Press

Kenya’s opposition leader Raila Odinga has led thousands of protesters in a third round of anti-government demonstrations on Thursday as the government warned that no more violent protests would be tolerated.

Kushner Firm Got Hundreds of Millions From 2 Persian Gulf Nations

Jonathan Swan, The New York Times 

The infusion of money from interests in the two Persian Gulf monarchies reflects the close ties to Middle Eastern countries established by Jared Kushner, former President Donald Trump’s son-in-law.

Political Uncertainty in Taiwan Adds to U.S.-China Tensions

Joyu Wang, The Wall Street Journal

Sliding support for President Tsai Ing-wen’s party marks possible tilt away from Washington.

U.S.-Russia Rift Complicates Case of Arrested Journal Reporter

Alan Cullison and Warren P. Strobel, The Wall Street Journal 

Any agreement on release of Evan Gershkovich might be difficult to secure.

U.S. Puts Sanctions on Man Accused of Working on Russia-North Korea Arms Deal

Katie Rodgers, The New York Times 

A White House spokesman said the man would be in violation of several U.N. Security Council resolutions.