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.
Ghana Judiciary Launches Nationwide E‑Justice Platform to Cut Litigation Costs
Chief Justice Paul Baffoe‑Bonnie announced the rollout of a country‑wide e‑Justice platform that will digitise filing, service of process and hearings. The system is designed to reduce business litigation expenses and accelerate case resolution, positioning Ghana’s courts as a catalyst for economic growth.
AHL Venture Partners Spent a Decade Doing Equity in Africa. Then It Chose Debt.
AHL Venture Partners, a Nairobi‑based impact VC founded in 2007, has pivoted from a mixed equity‑debt strategy to a pure private‑credit focus after a 2020 strategic reset. The firm now backs scaling African businesses with senior secured loans, targeting high‑margin,...
Terra Industries Scales to 30,000 Drones a Year for African Industrial Security
Terra Industries, a Nigerian robotics startup, has lifted its production ceiling to 30,000 unmanned aerial vehicles per year from its Abuja factory. The move positions the firm to safeguard roughly $11 billion in power, mining and refinery assets across eight African...
Saudi Oil Price Surge Signals Phase Three Economic Fallout
From the Bloomberg article on “Saudi Arabia rais[ing] the price of its main oil grade to Asia to a record high premium.” This price development coincides with more Asian governments worrying about physical energy supplies—marking part of what I’ve termed "Phase...
US Blames Mexico for Self-Inflicted Wound in Trade
The U.S. Trade Representative released its annual Non‑Tariff Measures report, dramatically expanding the section on Mexico, the United States’ biggest commercial partner. The report reiterates long‑standing grievances—an opaque regulatory system and caps on foreign investment in the energy sector—framing them...
America’s Currency Is the Global South’s Problem
The article argues that although the U.S. dollar’s share of global foreign reserves has been slipping since its 2001 peak, the decline is incremental, ensuring the greenback’s dominance for the foreseeable future. Nations in the Global South cannot simply wait...
VinFast Sells 3,520 EVs in a Day, Eyes $500 M India Plant to Scale Operations
VinFast moved 3,520 electric vehicles in a single 24‑hour window in Vietnam, proving its production‑logistics coordination. The company is now backing a $500 million, 150,000‑vehicle‑per‑year plant in Tamil Nadu, India, to replicate the tempo for export to right‑hand‑drive markets. Executives say the...
Asprofin Bank, Wow Global, RRP Electronics Ink Multi‑Billion‑Dollar AI Datacenter MOU
Asprofin Bank, Wow Global Technologies and RRP Electronics have signed a tripartite memorandum of understanding to finance and construct a multi‑billion‑dollar AI‑focused modular and hyperscale datacenter network spanning Qatar, India and Southeast Asia. The plan calls for up to six...
Defensive ETFs Surge as VIX Jumps 73% Amid Early 2026 Turmoil
Investors are flocking to defensive exchange‑traded funds as the CBOE Volatility Index has risen 73% year‑to‑date. Low‑volatility ETFs such as iShares USMV, Invesco SPLV and State Street XLP are seeing fresh inflows, while high‑beta funds face outflows, especially in emerging‑market...
China's Hotel Upgrade Adds 316,000 Rooms, Boosts Service Standards
China's hospitality sector added 316,100 chain hotel rooms in 2024, a 4.68% year‑on‑year rise that lifted the total to 17.64 million rooms. The upgrade, visible in budget‑price hotels offering upscale amenities, is reshaping demand toward business travelers and attracting foreign investors.
Moody's Cuts India's FY27 Growth Forecast to 6% Amid West Asia Conflict
Moody's Ratings lowered its projection for India's fiscal 2026‑27 real GDP growth to 6% from 6.8%, warning that the Israel‑Iran war is disrupting oil, LPG and fertilizer supplies. The downgrade raises inflation expectations to 4.8% and tightens the fiscal outlook...
Trump Threatens Strikes on Iran’s Power Plants and Bridges if Hormuz Stays Shut
President Donald Trump warned that the United States will target Iran’s power plants and bridges if Tehran does not reopen the Strait of Hormuz. The threat sent oil futures above $100 a barrel, lifted U.S. gasoline to over $4 per...
Africa Confronts G7 Double Standards as Ruto Is Invited, Ramaphosa Shut Out
The G7 will invite Kenya’s President William Ruto to the June 2026 summit in France while excluding South Africa’s President Cyril Ramaphosa, ending a decade‑long tradition of Pretoria representing the continent. French officials described the guest list as comprising “democracies...
MENA Startup Funding Falls to $48.3 Million in March 2026
MENA startup funding plunged to $48.3 million in March 2026, an 85% month‑on‑month drop and 62% lower than a year earlier. The slowdown reflects heightened geopolitical risk from the US‑Israeli conflict with Iran, prompting investors to pause rather than withdraw capital....
Europe Must Treat Africa Like a Partner —Not a Problem
The European Union is being urged to move from a donor‑centric model to a true partnership with Africa, focusing on industrialisation, streamlined aid, and balanced security cooperation. Proposals include an EU‑Africa Industrialisation Pact to shift investment toward processing and manufacturing...
Raimondo on How European Industry Is Getting Crushed | Odd Lots
Gina Raimondo warned that Chinese subsidies and a surge in cheap imports are hollowing out Europe’s industrial base, especially in Germany’s chemicals and automotive sectors. She stressed that without a coordinated US‑Europe technology alliance, the transatlantic partnership cannot compete with...
India Turns to Iran for Oil and Gas After 7-Year Hiatus, Signaling Limits to U.S. Tilt
India has restarted oil and LPG purchases from Iran after a seven‑year break, following a U.S. waiver that temporarily lifts sanctions on Iranian crude. The Ministry of Petroleum confirmed shipments, including a 44,000‑metric‑tonne LPG cargo, as refiners seek to offset...
ER Group Opens Nairobi Office to Expand East African Investments and Partnerships
ER Group, a Mauritian conglomerate formed in 2025, has opened a regional office in Nairobi to accelerate its East African investment strategy. The Nairobi hub will coordinate deal sourcing, due diligence, and partnership negotiations across Kenya, Uganda, Tanzania, and Rwanda....
Japan PM Takaichi Pursuing Dialogue with Iran's Leader
Japanese Prime Minister Sanae Takaichi announced that her government is preparing to hold talks with Iran’s supreme leader. The statement was made during a budget committee session in the lower house, emphasizing that discussions will be scheduled at an appropriate...
China's Excess Capacity Fuels Cheap Electrification in the Global South
An interesting question to ponder is whether Chinese overcapacity is essentially indirectly subsidizing the electrification of the "global south". It's similar to countries buying oil on the cheap, typically to stockpile. At the moment, oil is of course not cheap....
China Restarts US Oil Imports Amid Middle East Disruption
China imports US oil for Asian fuel markets amid Hormuz crisis @asiatimesonline https://t.co/Iy0aRy8vam China is moving to resume large-scale purchases of United States liquefied natural gas (LNG) and crude oil, as supply disruptions in the Middle East and tightening fuel markets...
‘Walking on Eggshells’: How Trump Is Managing His Delicate China Truce
The Trump administration has placed Treasury Secretary Scott Bessent at the center of a cautious economic détente with China, steering away from the hard‑line posture of earlier hawks. President Trump’s upcoming May visit aims for a trade win rather than...
Iran Tensions, Crude Oil Surge Keep Dalal Street on Edge
Rising crude‑oil prices and heightened Iran‑U.S. tensions pushed Indian equities lower on Monday. The BSE Sensex fell about 120 points (‑0.16%) to 73,199 and the NSE Nifty slipped 13 points (‑0.06%) to 22,700. Brent crude rose to $109.78 per barrel...
Orban on the Brink: Could Hungary’s Election Dent China’s Influence in Europe?
Viktor Orbán’s Fidesz party is trailing the newly formed Tisza Party in polls ahead of Hungary’s April 12 parliamentary election. The contest is being framed as a referendum on whether Budapest will deepen its alignment with China and Russia or re‑orient...
Europe Is Stuck With America
European leaders are confronting deep economic and military reliance on the United States after a year of Trump‑era tariffs, threats to withdraw troops, and pressure on energy supplies. The U.S. now accounts for over 20% of Europe’s exports and supplies...
The Iran Shock
Within weeks of the U.S.-Israeli attack on Iran, Tehran’s near‑shutdown of the Strait of Hormuz halted roughly 20% of global oil and LNG transit, sending crude prices up 55% and gasoline up about $1 per gallon. The disruption exposed the...
China Build Focused Economy Versus India
Over the past five decades China pursued an investment‑led, export‑driven model, rapidly expanding manufacturing, infrastructure and urban housing, while India relied on a consumption‑led, services‑focused path. China’s GDP multiplied roughly 30‑fold versus India’s five‑fold, and its industrial sector now accounts...
Money and Me: Investors and North Asia Edge
In this episode, host Michelle Martin talks with Vance Tan, Financial Services Manager at Phillip Capital, about why North Asia – Japan, South Korea, and Taiwan – is emerging as a new engine for global growth. Tan highlights Japan’s re‑rating...
Iran's Threats Make Hormuz Transit Too Risky
Hormuz isn’t controlled. It’s poisoned. There's no blockade & no toll booth. Iran has made transit so dangerous that no rational vessel owner moves. Iran's "approval" through exemptions is bullshit Flows remain stopped except for a few tankers willing to take great risk. #Hormuz #IranWar...
China Shifts Upstream in Global Production Networks
China moves upstream in production networks. More on this in the Chartbook Top Links today. https://t.co/z8YSI2hXDR
Oil Crisis Hitting Asia Foreshadows Tough Times for Europe
The war in Iran has effectively blocked the Strait of Hormuz, cutting global oil supplies by about 10 % and pushing Brent crude above $100 per barrel. The disruption also curtails LNG flows, tightening energy inputs for power and fertilizer production....
Ceasefire Triggers Oil Drop, Dollar Decline, EM Rally
A ceasefire is coming. Two things will get repriced quickly when that happens. Oil futures will tumble and the Dollar will fall sharply. The latter is up on safe haven inflows to the US. All those inflows will unwind very...
Gulf Funds Poised to Finance Paramount's $81B Warner Deal
MyPOV: the middle east to the rescue. Gulf Funds Near Deal to Back Paramount’s $81 Billion Takeover of Warner https://t.co/hTIMzrGhf5
Explosives Near Balkan Stream Gas Pipeline Spark Energy‑Security Fears Ahead of Hungarian Election
Serbian police discovered two backpacks of high‑power explosives near the Balkan Stream pipeline, an extension of Russia's TurkStream that feeds gas to Hungary. Hungarian Prime Minister Viktor Orbán called an emergency defence council meeting, while opposition leader Péter Magyar warned...
Chinese Airlines Fill Void as Russian Airspace Closes
The Geopolitics of the Skies – Why Chinese Carriers are Redrawing the Global Aviation Map "The closure of Russian airspace to North American and European airlines has forced a rerouting that is as expensive as it is exhausting." https://t.co/HFTgbU023Q
MBS's Grand Plans Hampered by Severe Cash Shortage
"The problem is there was never enough cash to fund all his [Crown Prince MBS] ambitious initiatives." Indeed. That's why measures lie the balance of payments breakeven are useful. The Saudis needed $90 plus oil -- or near...
Philippines Inflation Seen Quickening as Oil and Food Costs Rise
Philippine headline inflation is projected to rise sharply in March, with estimates ranging from 3.5% to 4.3% after February’s 2.4% rate. The surge is driven by higher oil, electricity and food prices, especially rice. Analysts warn the reading could push...
Pakistan's Reserves Plunge One-Third Amid Debt Repayments
#PakWatch🇵🇰: Due to foreign debt repayments, Pakistan's foreign reserves are set to shrink by a STUNNING ONE-THIRD this month. PAK = THIRD WORLD = IN THE TANK. FREE IMRAN KHAN. https://t.co/QKr6kb5Sop
India's Russian Crude Imports Surge 94% in March
🇮🇳India’s Russian crude imports rebound sharply — up nearly 94% in March MoM and 10% YoY. https://t.co/O0zIu8LcIi
South Korea Eases Chinese Travel Visas but Southeast Asia Rivals, Iran War Cloud Outlook
South Korea announced new multiple‑entry visas for Chinese travelers, granting five‑year visas to repeat visitors and ten‑year visas to residents of 14 major Chinese cities and investors who have put at least $1 million into the Korean economy. The move targets...
US External Deficits Mirror Unsustainable Domestic Borrowing
1/7 Martin Wolf, in an important piece on unsustainable current account imbalances, makes a point that most American economists miss: "the counterpart of external deficits tends to be unsustainable domestic borrowing." https://t.co/h7ob7Aac6A via @ft
India's Energy Imports Quadruple Since 2000, Heightening Vulnerability
#IndiaWatch🇮🇳: India’s net energy imports have exploded over the past 2 decades. Net energy imports have SURGED more than 4x since 2000. MORE ENERGY IMPORTS = MORE VULNERABILITY. https://t.co/PxS0fxVpuJ
BP Leading Effort to Develop Energy Deposits in Kazakhstan, Uzbekistan
BP is positioning itself as the lead developer of the Ustyurt Plateau’s newly identified natural‑gas reserves that span western Kazakhstan and Uzbekistan. The company signed an exploration agreement with KazMunayGaz on April 2 and is in talks with Uzbekneftegaz and Azerbaijan’s...
Early Signs Suggest Iraq Flow Could Become Significant
There’s something to this Iraq stuff, even if it’s still too early to say how consequential this flow will grow to be https://t.co/S1itXIUl4L
BBL Recommends Thai Businesses Mull Expansion to India
Bangkok Bank is urging Thai companies to diversify away from the United States and tap India’s massive market as geopolitical tensions rise. The bank’s president highlighted India’s strategic importance as a consumer base, investment hub, and supply‑chain partner. BBL pledged...
Iran Ramps up Jask Exports, but Still Heavily Reliant on Kharg Island
Iran has increased crude loadings at its Jask terminal, but the port remains a minor supplement to the dominant Kharg Island hub. In March, Jask accounted for only about 4.4% of Iran’s oil exports while Kharg handled roughly 84‑90% of...
Andrew Tilton on China’s Growth Prospects, Economic Trajectory in Wake of Iran War
Goldman Sachs chief Asia‑Pacific economist Andrew Tilton told the South China Morning Post that China’s property slump has passed its worst phase, removing a major drag on growth. He highlighted that GDP is now projected to rebound above 5% this...
US‑Iran Talks Show Positive Momentum After Holiday Pause
catching up on the news after the holiday week, seems like the US-Iran negotiations are going well
Vietnam Bookings Jump 130% as Middle East Conflict Drives Travelers to Safer Asian Destinations
Vietnam recorded a 130% year‑on‑year surge in travel bookings as the Middle East conflict forced tourists to seek safer routes, propelling the country ahead of Sri Lanka, Singapore, Nepal, Thailand, Spain, Greece and Portugal. The influx helped Vietnam log over...
Trump Unveils 100% Pharma Tariff, Jefferies Says Indian Generics Likely Safe
U.S. President Donald Trump announced a sweeping 100% tariff on certain pharmaceutical imports, prompting alarm across the supply chain. A Jefferies analysis released days earlier warned of the move but projected that Indian generic manufacturers would remain largely exempt, limiting...