ICYMI: News Round-Up for March 18-22, 2024

Here are just a few of the events that took place around the world this week:

1. For the first time in 17 years, the Bank of Japan ended its negative interest rate policy. BoJ also turned the page on what was one of the world's most aggressive monetary easing programs.
2. Hong Kong’s legislature passed a new national security law. Authorities say it is needed for stability while critics say it further erodes civil rights. Hong Kong's leader John Lee had said the legislation would "effectively prevent, suppress and punish espionage activities, conspiracies and traps from foreign intelligence agencies, and infiltration and sabotage by hostile forces". A chorus of critics from within Hong Kong and from the international community suggest that the "vague and sweeping" laws are overly harsh, cracking down on free speech and the right to protest.
3. Ukraine’s energy infrastructure came under fire from Russia this week. The result was widespread outages, including the city of Kharkiv. Kiev also faced one of the biggest missile barrages since the outset of the invasion. All missiles were shot down, but 17 civilians were still injured by falling debris.
4. In retaliation for an attack that killed seven Pakistani soldiers, Pakistan launched airstrikes targeting suspected Taliban hideouts in Afghanistan. The strikes ratcheted up tensions between the two nations.
5. Federal police in Brazil indicted former President Bolsonaro for allegedly falsifying his vaccination record during the pandemic. "Insertion of false data into the public system” could be punishable by imprisonment.
6. The U.S. Environmental Protection Agency (EPA) issued a comprehensive ban on the import and use of asbestos. This new EPA ban targets chrysotile asbestos, the only form of asbestos currently used, and the only cancer-causing mineral still imported into the country. Chrysotile asbestos was most commonly used in brake pads for cars.
7. In an effort to bolster the domestic chip manufacturing market, Intel was awarded nearly $20B in incentives under the CHIPS Act. This announcement represents the Commerce Department's biggest step yet toward onshoring semiconductor production.

Side note: It's funny that there are fax machine and pager emojis, but no semiconductor.