Biden to call Xi

• U.S. President Joe Biden will speak with Chinese President Xi Jinping on Friday to discuss the U.S.-China competition and the Ukraine issue. The virtual meeting will come as members of the UN Security Council vote for a Russian-drafted resolution on Ukraine civilian protection.

Silver lining in Ukraine war

• Turkish Foreign Minister Mevlüt Çavuşoğlu said on Thursday that the hopes for a ceasefire between Russia and Ukraine have increased. Turkish President Recep Tayyip Erdoğan called Russian President Vladimir Putin on Thursday, and Çavuşoğlu talked with the Foreign Ministers of both countries separately this week.

China, U.S. to settle audit dispute

• The U.S. and China authorities are edging towards an agreement over an audit dispute that could cause the delisting of Chinese businesses on U.S. exchanges. Chinese regulators are considering letting U.S. financial watchdog inspect some companies’ audit working papers.

• The U.S. amended its audit regulation late last year, causing over $1.1 trillion losses and threatening another $1.3 trillion in stock value of U.S.-listed Chinese companies.