FirstFT: Ukraine says it has launched Kherson counter-offensive

Hello. Ukraine said it had launched a counteroffensive against Russian forces near the city of Kherson, in a move that forced the Russian military to move resources south of the country, a senior official said. the White House.

A senior Ukrainian government adviser has confirmed that Kyiv has launched a major operation to retake the strategically important southern city that was captured by Russian forces at the start of the war.

“The next phase of the counter-offensive begins,” the adviser said. “It started with massive attacks on Russian military infrastructure and logistics.”

The long-awaited assault on Russian forces is aimed at retaking territory seized by Moscow in the first weeks of President Vladimir Putin’s invasion, when troops poured in from the Crimean peninsula to the south. Keep up to date with the latest counterattacks with our live blog.

Following the Russian invasion of Ukraine, Europe’s benchmark electricity price has risen 10 times from its 10-year average, alongside a 14-fold increase in the cost of gas, with growing fears shortages this winter. In response, the EU is preparing emergency measures to curb the price of electricity by decoupling it from the surge in the price of gas.

Thanks for reading FirstFT Asia. – Emily

Five other stories in the news

1. Honda and LG will build a $4.4 billion battery factory in the United States The Japanese automaker and South Korean battery maker are teaming up to invest $4.4 billion in a new battery factory in the United States, amid growing pressure from Washington to cut China off from the shackles of supply of electric vehicles. This will be Honda’s first electric vehicle battery manufacturing plant in the United States.

2. Ambani says India can compete with China in green technologies Billionaire Mukesh Ambani says India can become a ‘credible alternative’ to China for green power generation, as he outlines details of Reliance Industries’ $10 billion energy investment renewable at the company’s annual general meeting.

3. Singapore to Tighten Individual Access to Cryptocurrencies Singapore’s financial regulator has announced it will further restrict retail investors’ access to digital currencies after a series of scandals in the city-state. Ravi Menon, chief executive of the Monetary Authority of Singapore, said cryptocurrencies are not a “viable form of money or investment asset” due to their extreme price volatility.

4. US officials complete initial review of Trump’s Mar-a-Lago documents In a court filing on Monday, prosecutors said the US Justice Department completed a review of documents seized from Donald Trump’s estate in Florida earlier this month.

5. Global stocks fall as Powell comments drag markets lower Global stocks weakened and Treasury yields rose after central bankers warned investors to brace for a prolonged period of higher interest rates. Policymakers at the US Federal Reserve and European Central Bank used speeches at last week’s annual meeting to reiterate their commitment to tackling inflation, despite the risk of recession.

The day ahead

Vostok military exercises Russia and China will embark on a series of military exercises this week, a sign of Moscow’s deepening ties with Beijing and the Kremlin’s willingness to project a “business as usual” image despite the rising costs of its war in Ukraine. The Vostok War Games are held every four years in the Russian Far East.

Results Today is a bumper day for corporate earnings in China. These results include Air China, Baidu, Bank of China, China Eastern Airlines and China Southern Airlines..

What else we read

Inside Missfresh’s hunt for investor money before the collapse Court filings, investor presentations and interviews with multiple people involved reveal the dangers investors face in too easily believing the hype of a company that is supposed to be at the forefront of the start-up scene. Chinese technologies in hopes of quick returns.

Kishida turns Japan’s energy problems into a nuclear opportunity In a 27-page document that accompanied last week’s announcement of Japan’s biggest nuclear policy reversal in 11 years, the word “crisis” was used seven times. The single word sums up why Prime Minister Fumio Kishida risked political capital to end a crippling that has plagued the country’s energy sector since the Fukushima Daiichi nuclear disaster.

Liz Truss’ not-so-special relationship Britain’s soon-to-be prime minister has irritated US officials at times with a not-so-diplomatic style that has been described as blunt, binary and assertive. Some say Truss is quick to take maximalist positions without thinking of the consequences.

Can Web3 help us get to net zero? A slew of tech companies are exploring how to merge global warming concerns with public interest in Web3 technology. From the mundane to the extravagant and outlandish, these projects promise to “green” bitcoin, make NFTs sustainable, and solve the thorny issues of carbon markets once and for all. Can they work?

Boom leader fights headwinds of supersonic travel The creators of Overture claimed they could cut flight times from New York to London from 6.5 hours to 3.5 hours, while Tokyo to Seattle would drop from 8.5 hours to 4.5 hours. But the lack of an engine manufacturer for the supersonic jet is one of many factors fueling the aviation industry’s doubts about the claims.

Gardens

Adrian Fisher wants you to get lost. So much so that he made it his job. For the past 43 years he has designed mazes and mazes in the quiet village of Durweston near Salisbury. Click here to explore Fisher’s Maze.