- Reuters
Analysis-US stock changes push FX trades into Asia's 'twilight zone'
A shortening of U.S. stock settlement window next week is expected to upend trading for Asian money managers, pushing some to secure funds in the early hours of their mornings when currency markets are at their thinnest and most jumpy. From May 28, investors from Singapore, Tokyo or Seoul who buy U.S. shares during the Wall Street day will have just 24 hours to validate their trades and convert their funds into dollars to complete the deals, down from two days previously. While the new U.S. rules are designed to reduce counterparty risks, dealers and regulators are watching to see if the changes ruffle prices or flows in the $7.5-trillion-a-day forex market.
- United Press International
U.S., Kenya ink investment commitments to deepen partnership on state visit
The White House released details Thursday of a raft of agreements including at least $470 million worth of government-private investment and finance with Kenya's President William Ruto on day two of his state visit.
- Associated Press
In message to Russia, Chilean lawmakers meet in Antarctica to underline territorial claims
Defense officials from Chile convened a meeting at the bottom of the planet on Thursday in a bid to bolster their territorial claims in Antarctica as tensions escalate over Russia's maneuvers in the polar region. Lawmakers from Chile's parliamentary defense committee flew to a desolate air base for a meeting billed as an assertion of national sovereignty. “We are going to be sitting in Antarctica in an act of sovereignty, of safeguarding and supporting our national integrity in the face of any threats," said committee member Camila Flores, singling out Russia as posing such a threat.
