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The former head of Afghanistan’s central bank has warned that the country is facing “dire” financial prospects and an acute shortage of dollars and higher inflation will fuel the flow of migrants out of the country; the Taliban’s takeover hands China and Russia an opportunity to project their power after Washington’s chaotic withdrawal; and a majority of Federal Reserve officials believe the US central bank could start withdrawing a massive pandemic stimulus programme later this year, according to a record of their latest meeting.

Afghanistan faces ‘dire’ financial outlook, warns former central bank chief - with Jonathan Wheatley, emerging markets correspondent

China and Russia poised to step into the Afghanistan gap - with James Kynge, global China editor

Most Fed officials reckon stimulus could start winding down this year - with Colby Smith, US economics editor

UK government intervenes in £2.6bn Ultra Electronics takeover by Cobham

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Our intern is Zoe Han. Additional help by Gavin Kallmann, Michael Bruning, and Persis Love. The show’s theme song is by Metaphor Music. The FT’s global head of audio is Cheryl Brumley. 

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