Global Economic Update

Sign up for myFT Daily Digest and be the first to learn about global economic news.

What is your understanding of the news this week?Take our test.

At least 12 U.S. soldiers died Two bombs exploded Near the Kabul Airport, Western countries scrambled to complete the last flight of evacuation from Afghanistan, causing an unknown number of civilian casualties.

General Kenneth Mackenzie, head of the Pentagon Central Command, said that in addition to 12 deaths, at least 15 soldiers were injured after two suicide bombers believed to be linked to Isis. Mackenzie added that he expects Isis to launch another attack.

“We believe they want to continue these attacks… We are doing everything we can to prepare,” he said. “If we can find people involved in this matter, we will track them down.”

The casualties on Thursday were due to a suicide bombing near the airport monastery gate, and then a gunman opened fire on civilians and the army. Another explosion occurred at or near the Baron Hotel, where some evacuees gathered.

According to Rita Katz, director of the site intelligence team that monitors the communications of extreme Islamists, Isis claimed responsibility for the attacks.U.S. President Joe Baider Speak to the whole country After the attack.Follow the latest reports in Afghanistan Fortis. (Financial Times, Bloomberg)

Spend a relaxing weekend, as always, thank you for reading FirstFT Asia. -Emily

More about Afghanistan:

• Looking to the future: Afghan Shia minorityDespite the promise of tolerance by activists, victims of persecution in history still feel fear.

• View: Saad Mohseni, Chairman and CEO of Moby Group calls for One intervention In Afghanistan.

• video: The fall of Afghanistan: what’s next? U.S. editor-in-chief Peter Spiegel and former CIA director David Petraeus, former governor of the Central Bank of Afghanistan, Ahmadi, and Katrina Manson and Stephanie of the British Financial Times Findlay discussed.

There are five more stories in the news

1. U.S. media deals become the focus Forbes has agreed to go public through a merger with a special purpose acquisition company that valued the American business news media at $630 million, making it the latest in a series of acquisitions. Eye-catching offer In the media industry.

2. Chinese technology stocks rebound Kuaishou shares Down by more than 12% On Thursday, short video platforms and TikTok’s competitors reported lower-than-expected earnings in the second quarter, dragging down other Chinese technology stocks and ending the industry’s three consecutive days of gains.

3. South Korea’s interest rate hike Bank of Korea has Raise the benchmark interest rate Increased from 0.5% to 0.75%, becoming the first central bank in a large Asian economy to raise lending rates. Concerns about soaring real estate prices and record household debt prompted the decision to raise lending rates for the first time since September 2018.

4. Helped to shape the retiring executives of Bank of America after the crisis Wall Street executive Tom Montag helped Bank of America stand out from the 2008-09 financial crisis. Retiring end of year. Montag came to Bank of America from Merrill Lynch, a Wall Street broker that the bank acquired in 2008 because it faced huge losses on securities backed by subprime mortgages.

5. U.S. investors cut leverage U.S. investors have begun to call back Use of leverage This is the first shock since the financial market was hit by the coronavirus crisis last year. New data shows that investors’ portfolio borrowings in July were US$844 billion, lower than the record of US$882 billion a month ago and the lowest level since March.

Coronavirus Digest

• Thailand List of red travellers moved to England The other seven countries and regions went green.

• Japan’s The ruling Liberal Democratic Party will hold Leader election Next month, Prime Minister Yoshihide Suga’s poll ratings dropped. Former Foreign Minister Fumio Kishida will challenge Yoshihide Suga in the vote.

• British Airways Planning Replace its short-distance business As demand was affected by the pandemic, a new low-cost business was launched at Gatwick Airport.

• A new photo Argentine President Alberto Fernández ignored the blockade and placed the government in Buenos Aires On the defensive end Just one month before the middle school primaries.

the day before

Japan-Taiwan Security Conference The two countries will hold First bilateral security meeting Today, they seek to strengthen ties to counter an increasingly warlike China.

Jackson Hole Symposium Kansas City Fed suddenly decided to move last week Annual Gathering of Central Bank Governors The virtual form is adopted for the second time in its 40-year history, which highlights that the economic recovery still faces the risk of a pandemic. When Fed Chairman Jay Powell delivers a speech, all eyes will be on him to find clues about when the U.S. Central Bank may begin to reduce pandemic support.

• View: Powell’s speech at Jackson Hole was an opportunity to point the way in a situation of increasing uncertainty. Martin Sandb wrote In his free lunch newsletter. Register here.

What are we still reading

Covid and Biden ease tensions in the Middle East Secret conversations between rivals. Letter exchanges between old opponents. Television networks that have been criticized have eased the language of the opposing regime.A sort of Downgrade mood Is occupying a place in an area full of hostilities. But it is easy to derail.

A decade of “waste” in South Sudan July marks 10 years of independence for the youngest country in the world.but The conflict continues Conflicts between separatist groups, government factions, and insurgents have led to policy paralysis and dashed hopes for a peaceful approach to the first general election planned for 2023.

Fall in love with the English countryside Derek Brower of the British “Financial Times” has lived and left many places, from Winnipeg on the Canadian prairies to Herne Hill in London to courtyard On the Moika River in St. Petersburg.But he wrote that he Never feel sad to leave a place Compared to when he left Buxton three weeks ago, he is preparing for another transatlantic operation.

How the pandemic is reshaping our thinking The comfort-seeking behavior in epidemic life may continue to exist. But is this a bad thing?Author Imogen West-Knights investigates how the coronavirus crisis arose Reconnect our brains.

Fashion

With her eponymous brand turning 20 years old, Stella McCartney revealed her new role at LVMH to FT’s Lauren Indvik—and Why fashion needs more government regulation.