1. NATO to bolster military presence in Ukraine
The Pentagon has issued a statement that is will ramp up its military presence to defend Ukraine from Russia’s probing at its border, stating it has placed 8,500 troops on high alert. Russian President Vladimir Putin continues to deny that he is planning an attack. Key developments in border tension are: Germany holds firm on refusal to arm Ukraine, US orders families of diplomats out of Ukraine, citing the risk of a conflict, European economies are at risk in a clash with Russia, and UK warns that Russia is plotting to install a pro-Kremlin government in Ukraine.

2. Labor pledges $440 million to education sector
In what is one of its more direct campaigns for the upcoming federal election, Opposition Leader Anthony Albanese has pledged $440 million to the education sector to help students and teachers manage the complications of the pandemic. “Funding for ventilation improvements would be available to all schools – both public and private – on a needs basis. But $188m in the program earmarked for broader upgrades of school facilities, including refurbishing school buildings or building trades training centres, would only be available to public schools,” The Guardian reports. The funds will also contribute to support mental wellbeing such as sourcing additional school counsellors and psychologists.

3. Freight levy keeps supply chain bottleneck front and centre
As logistics companies hike their prices to contend with increased import expenses from reduced supply chains, consumer goods items are set to faced continued financial pressure. “While global spot rates for 40-foot containers – the fees charged to move goods on ships – have declined from their peak in September, they are still running at US$9604, more than double the price of a year earlier, according to the Freightos Baltic Index,” the AFR reports.

4. Evergrande needs more time, again
In the latest development of China’s property giant debacle, Evergrande has requested more time to repay offshore investors, urging that they not pursue aggressive legal action. The company said in a statement that it is seeking more time from overseas investors to fully consider uncertainties and risks in order to make a debt risk disposal plan that will protect the interests of various parties. “Evergrande, saddled with $305 billion of liabilities as of mid-2021, was deemed to be in default in December after missing dollar-bond payments,” Bloomberg reports.

5. ASX to drop despite Wall St rise
Although ending higher, the S&P 500 still headed toward its lowest level since October, with volume 80% above the average of the past month. Earlier on Monday, the gauge extended its losses to more than 10%from a record set three weeks ago. ASX futures fell 123 points or 1.7 per cent to 6929 as of 7.36am AEDT while the AUD was -0.6% to 71.39 US cents. On Wall St: Dow -0.6%, S&P 500 -0.2%, Nasdaq -0.4%.