Today's Emerging Markets Pulse
India and U.S. forge $20 billion critical minerals framework
India and the United States signed a bilateral framework in New Delhi on May 26 to cooperate on critical minerals and rare‑earth supply chains. The pact covers mining, processing, recycling and project financing and could mobilise up to $20 billion, tapping India’s estimated 13 million tonnes of monazite deposits.
Amb. Ina Marciulionyte on the Future of EU-Mongolia Ties
Ambassador Ina Marciulionyte highlighted the deepening EU‑Mongolia partnership as it marks 35 years of diplomatic ties and aligns with the EU’s broader Indo‑Pacific push, including its new free‑trade pact with India. Current EU initiatives span renewable‑energy transmission lines in the Gobi, forest management, and support for cashmere value chains, while a recent EU‑Mongolia Business Forum secured roughly $1.08 billion in European investment. The ambassador also stressed the need to leverage the underused GSP+ duty‑free regime, pursue Geographical Indication agreements, and strengthen disinformation defenses ahead of Mongolia’s 2027‑28 elections.
Asia and Middle East Dominate $13T Sovereign Wealth
Where the World’s $13T in Sovereign Wealth Is Held Key Takeaways 👉 Asia and the Middle East control the majority of the world’s $13 trillion in sovereign wealth. 👉 Norway alone holds over $2.1 trillion, the largest sovereign wealth fund globally. 👉 Middle Eastern...
Japan Funds South Africa Ammonia‑coal Tech to Cut Emissions
Japan is seeking to boost its presennce in South Africa by offering an energy transition loan and a technology that allows ammonia to be blended with coal to reduce power plant emissions https://t.co/BC6XVYmL82
Foreign Firms Invest $175 M in Shanghai Manufacturing Hubs, Doubling New FIEs YoY
Foreign companies are accelerating capital inflows into Shanghai’s manufacturing ecosystem, highlighted by ZEISS’s $174.9 million campus and Estée Lauder’s new lights‑out supply‑chain center. The city recorded a 14.1% rise in newly established foreign‑invested enterprises in the first two months of 2024,...
ASEAN+3 Finance Ministers Commit Coordinated Action on Market Volatility and Middle East Risks
Finance ministers and central bank governors from the ten ASEAN members, China, Japan and South Korea issued a joint statement in Samarkand, pledging coordinated policy responses to rising market volatility and the fallout from the Middle East conflict. The bloc...
Indian Rupee Hits Record Low 95.33 as Oil Prices Surge Amid US‑Iran Stalemate
The Indian rupee slid to a historic low of 95.33 per dollar on Thursday, driven by soaring oil prices and hawkish Fed signals as the U.S.-Iran stalemate drags on. The drop also pushed Indian government bond yields higher, echoing stress...
Dangote Petroleum IPO Targets $40‑50 Bn Valuation in First Multi‑Exchange African Listing
Dangote Group’s petroleum arm will list on several African exchanges, seeking a $40‑50 bn valuation that would make it the biggest IPO in Africa’s history. The move is positioned as a test case for cross‑border capital formation and a catalyst for...
Saudi Arabia Opens Main Market Access to All Foreign Investors While Retaining Key Ownership Controls
Saudi Arabia’s Capital Market Authority eliminated the Qualified Foreign Investor regime and the swap framework, allowing all foreign investors to invest directly in Main Market shares and convertible debt. The reforms, announced on Jan 6 2026 and effective Feb 1 2026, require investors to...
Kenya as Lynchpin for France's Broader Engagements with Africa
France is recalibrating its Africa strategy, moving beyond its traditional francophone strongholds toward a diversified partnership model. The 2026 Africa Forward Summit will be hosted in Kenya, marking the first time the event leaves a francophone nation. Kenya’s economy is...
Understanding Macron's Anglophone Africa Pivot
President Emmanuel Macron is shifting France’s Africa policy from the Francophone‑centric “Françafrique” model toward an inclusive partnership with anglophone and lusophone nations. The pivot, highlighted at the Africa Forward Summit in Nairobi, emphasizes moving from aid to co‑investment across security,...
Will the US Serra Verde Acquisition Help Break China’s Rare Earth Monopoly?
On April 20, USA Rare Earth announced a $2.8 billion acquisition of Brazil’s Serra Verde Group, backed by a $565 million loan from the U.S. International Development Finance Corporation. The deal includes a 15‑year government‑backed offtake vehicle that will channel all of Serra Verde’s rare‑earth ore...
Trump Eager for Xi Summit Amid Ongoing US‑China Tensions
Trump Says He Looks Forward to Xi Summit as US-China Tensions Persist - Bloomberg https://t.co/QmkfBpfXwd
China Gains Soft Power as Trump Undermines US Image
China is building soft power as Trump burns bridges After years of struggling to match the global popularity of the US, Japan and South Korea, Beijing’s image is improving https://t.co/uW4Qwj47rV
Romanian Government Collapses, Currency Tumbles to Record Low
Romanian lawmakers voted 285‑4 to oust Prime Minister Ilie Bolojan, toppling his pro‑EU minority government. The no‑confidence motion was driven by the Social Democrats joining forces with the far‑right Alliance for Uniting Romanians. The collapse sent the leu to a...
The Canadian Who Spent Over 1,000 Days in Chinese Prison Warns Ottawa Is Walking Into Beijing’s Trade Trap
Michael Kovrig, a former Canadian diplomat who spent 1,028 days in a Chinese prison, warned Parliament that Ottawa’s trade pivot toward Beijing could trap Canada in a state‑subsidized electric‑vehicle (EV) strategy. He explained that China’s flood‑consolidate‑weaponize model, backed by roughly US$222 billion...
Better Late Than Never: Italy’s Strategic Bet on India
Italian Defense Minister Guido Crosetto’s April visit to New Delhi cemented a new 2026‑27 bilateral military‑cooperation plan, expanding joint training and naval industry projects. The trip builds on a year of high‑level diplomatic exchanges, including Foreign Minister Antonio Tajani’s December...
Project Freedom only Clears Outbound Tankers, Not Two‑way Flow
Project Freedom (the new US attempt to unblock the strait) is all about getting oil tankers out. So far, no indication the US is even contemplating a two-way traffic, with tankers going into the Persian Gulf. The later is a...
UAE Goes Its Own Way
The United Arab Emirates announced its departure from OPEC, becoming the bloc’s largest oil exporter after Saudi Arabia. The move follows Qatar’s 2019 exit and Angola’s in 2023, representing OPEC’s biggest capacity loss to date. UAE officials cite frustration with...
China’s Return to Infrastructure-Led Growth
China has pivoted back to infrastructure‑driven growth after lackluster consumption stimulus. First‑quarter 2026 GDP expanded 5% year‑on‑year, snapping a slowdown that began in late 2025. The producer price index turned positive, rising 0.5% YoY and ending a 41‑month deflationary run....
Nigeria Rises to Sixth in Global Outsourcing Rankings on Low Labour Costs
Nigeria has jumped to sixth place out of 193 countries in the Global Outsourcing Talent Index, thanks to labour cost competitiveness that beats India and Pakistan. The shift highlights Africa’s expanding share of the $695 billion outsourcing market and signals new...
Oil Prices Jump as Strait of Hormuz Tensions Escalate, Dragging Canadian Markets Lower
Oil prices surged past $110 a barrel after renewed fighting in the Strait of Hormuz, prompting the U.S. to pledge naval assistance and Iran to push back. The spike knocked the S&P/TSX Composite down 0.74%, while energy stocks led the...
Iran Flare‑up Pushes Asian Stocks Lower as Oil Spikes Above $115
Renewed fighting between the United States and Iran sent crude oil above $115 a barrel, prompting mixed moves across Asian exchanges. India’s Sensex fell 251 points to 77,017.79, Australian shares opened lower, while markets in Japan, South Korea and mainland...
Thai Cabinet OKs $12.2 Billion Emergency Loan to Tackle Energy Shock and Boost Green Transition
Thailand’s cabinet approved a draft emergency decree authorising up to 400 billion baht ($12.2 billion) in borrowing to offset the global energy crisis and accelerate the country’s clean‑energy shift. The loan will be split between immediate relief for farmers, SMEs and low‑income...
South West State Crisis a Litmus Test for Somalia’s Political Future
Somalia’s South West State is at the center of a federal‑state power struggle after federal troops removed the region’s newly elected president, Abdiaziz Hassan Laftagareen, following a disputed March 28 election. The National Independent Electoral and Boundaries Commission has scheduled fresh...
Oil Spikes Above $100 as Hormuz Closure Persists
The Strait of Hormuz remains closed, with the flimsiest of ceasefires looking flimsier by the hour, and oil prices have jumped back above $100 a barrel. At times like these, it’s important to remember that things can still get much, much,...
Iran’s Existential Threat Fuels Erratic Response to US Strait Push
What's happening in the Strait of Hormuz this week is very significant. Iran is blockaded, while at the same time the US is trying to open up the Strait to Western ships. All this is an existential threat to Iran...
Asia Daily: May 5, 2026
U.S. Treasury Secretary Scott Bessent called on China to use its leverage over Iran to help reopen the Strait of Hormuz, while China’s coast guard raised its flag on a disputed reef in the South China Sea. Australia and Japan...
Citi Reaffirms Long-Term Commitment in Talks with Vietnam's New Government
Citi reaffirmed its long‑term commitment to Vietnam during a high‑profile U.S. business delegation visit to Hanoi, the first public‑private dialogue with the country’s new government. The trip involved 52 U.S. companies and 120 delegates, highlighting Vietnam’s appeal as a supply‑chain...
Asia’s Book Market Generates $410 Billion in 2024, Forecasts 9% Annual Growth
New data from the International Federation of Reproduction Rights Organizations show Asia‑Pacific’s publishing market generated between $400 billion and $420 billion in 2024, dwarfing U.S. and European revenues. The region is projected to expand 8‑10% per year through 2030, driven by education,...
Cerberus Names Rahul Sangwan Head of India, Boosting Credit Push
Cerberus Capital Management announced that longtime credit veteran Rahul Sangwan will become Head of India, overseeing a platform that has deployed billions in credit across the subcontinent. The move signals the firm’s intent to deepen its alternative‑capital footprint in a...
America’s Simultaneous Management of China, Russia and Iran
The United States is simultaneously negotiating high‑stakes deals with China, Russia and Iran, a scenario rarely seen in modern geopolitics. Washington must balance trade concessions with Beijing, arms‑control talks with Moscow, and nuclear restrictions with Tehran, all while preventing any...
Trump’s Southeast Asia Trade Deals Are in Limbo
Malaysia has become the first Southeast Asian nation to formally terminate its tariff agreement with the Trump administration after the U.S. Supreme Court ruled the president lacked authority for the “Liberation Day” tariffs. The decision leaves six ASEAN members—Cambodia, Indonesia,...
India Among Most Resilient as Global Shocks Test Emerging Markets: Moody’s Ratings
Moody’s Ratings finds that India and Thailand have emerged as the most resilient large emerging markets amid a series of global shocks since 2020. Clear monetary policy frameworks, anchored inflation expectations and flexible exchange rates helped these economies absorb stress...
Asia Fracturing Into Energy Security Haves and Have-Nots
Asia’s once‑uniform growth story is fracturing into tiers defined by energy security. Wealthy economies such as Japan, South Korea and Singapore can leverage massive foreign‑exchange reserves to secure fuel and stabilize currencies, while lower‑resilience nations face soaring inflation, weaker currencies...
Chinese Automakers Lead Africa’s Rapid EV Surge
Across Africa, EV adoption is now among the fastest-growing globally and Chinese automakers capturing the lion’s share of the market. On this week's Next Africa Podcast Jennifer Zabasajja looks at China’s growing grip on Africa’s EV fast lane. https://t.co/0eQfp5JrH4
Asia Absorbs Rising, Uneven Cost of Energy Crisis Caused by War on Iran
Asia, the world’s largest oil‑importing region, is feeling the brunt of the energy shock triggered by the U.S. and Israel’s war on Iran. Oil imports fell 30% in April, the lowest level since 2015, prompting the Asian Development Bank to...
Declining Chinese Investment in Israel, MoUs with Ras Al Khaimah (UAE), Projects in KSA, Oman, and Possibly Egypt.
Chinese investment in Israel has sharply contracted, reaching a low of 39 million NIS (about $11 million) in 2023 – just 0.12% of total foreign inflows. The decline reflects heightened great‑power rivalry, U.S. pressure, Israel’s new foreign‑investment screening, and the fallout from...
Imran Khan's Imprisonment Triggers $2B Export Loss
#PAKWatch🇵🇰: Since IMRAN KHAN'S ILLEGAL IMPRISONMENT, Pakistan's exports are DOWN $2 BILLION. Under the rule of PM Sharif, PAK has descended into an economic nightmare. PAK’S MILITARY RUNS THE SHOW = ECONOMIC NIGHTMARE. FREE CAPTAIN PAKISTAN. https://t.co/c9msFFviC5
China, Indonesia Debut Cross‑border QR Payments, Boosting Yuan
SCMP: "China and Indonesia have launched a new cross-border QR payment system, marking the latest step in Beijing’s drive to build a regional digital payments network as it pushes to internationalise the yuan and reduce dependence on the US dollar." https://t.co/NEt62G5jZ7
Korea and Taiwan: When an AI Boom Lifts a Nation
Korea and Taiwan are reaping unprecedented AI‑driven windfalls as Samsung, SK Hynix and TSMC surge into the world’s most profitable firms. The profit‑sharing model channels billions of dollars into employee bonuses—up to $477,000 per engineer at SK Hynix—fueling a sharp rise in...
Rising Inequality Threatens China’s Common Prosperity Goals
1/2 SCMP: "Chinese citizens are facing growing inequality in wages and wealth, constraining the country’s “common prosperity” agenda at a time of slowing economic growth, a prominent economist, Zhejiang University dean Li Shi, has warned." https://t.co/JhNycibuSx
EU Bans Chinese Inverters From Funded Clean‑energy Projects
SCMP: "The EU has taken its most direct step yet to cut Chinese clean energy hardware out of publicly funded projects, banning Chinese inverters from all EU-funded schemes in a move Brussels described as the first in a series of...
ADB Commits $70 B to Power‑Grid and Broadband Projects Across Asia‑Pacific by 2035
The Asian Development Bank announced a $70 billion financing plan to build cross‑border power grids and expand broadband access across the Asia‑Pacific region by 2035. The package includes $50 billion for the Pan‑Asia Power Grid Initiative and a substantial, yet undisclosed, share...
Indonesia's Q1 2026 GDP Hits 5.6% Growth, Fastest Since
JUST IN: Indonesia's GDP grew by 5.61% annually in the first quarter of 2026, the fastest rate since 2022.
China's AI Valuations Fueled by Policy, Not Just Profit
Caixin: "In China, the AI investment thesis is shaped as much by geopolitics and policy as by profits." Interesting article on the spread of AI-related supervaluations. https://t.co/85yfiduKbD
Russian Think Tank Cuts 2026 Growth Forecast to 0.5%-0.7% Amid Oil Production Disruptions
The TsMAKP think tank, linked to the Russian government, reduced its 2026 GDP growth projection to 0.5%-0.7% from 0.9%-1.3%, citing Ukrainian drone strikes, new Western sanctions and falling oil export volumes. The downgrade comes even as global crude prices have...
Strait of Hormuz Closed Until Insurers Approve Risk
The Strait isn’t “open” because a navy says so It’s open when insurers, shipowners, and crews decide the risk is acceptable. Right now, it's CLOSED #oil #Hormuz #shipping #energy #markets https://t.co/KM8CM0Dffv
Kazakhstan’s Bond Market Attracts Nearly $5 Billion in Foreign Capital, Official Says
Deputy chairperson Nurzhan Tursunkhanov said foreign holdings in Kazakhstan’s local‑currency government bond market have climbed to nearly $5 bn, more than double the $2 bn recorded last year. The surge, highlighted at the Asian Development Bank’s annual meeting, reflects growing trust in...
Brazil Central Bank Bars Crypto Settlement on Regulated Cross‑Border Payment Rails
Brazil's central bank issued Resolution BCB No. 561, prohibiting regulated cross‑border payment providers from using cryptoassets to settle eFX transactions. The rule, effective immediately, forces fintechs and remittance firms to rely on traditional foreign‑exchange channels, with a May 31 2027 deadline for transitional...
How China’s New Trade Rules Aim to Nullify Trump Sovereignty Push
Beijing unveiled broad trade rules that allow Chinese authorities to investigate and punish foreign firms that shift sourcing away from China, a move announced just weeks before President Trump’s summit with Xi Jinping. The regulations target any “suspension of normal...