Today's Emerging Markets Pulse
Indonesia launches state‑run export hub to curb under‑invoicing and capture $150B revenue
President Prabowo Subianto announced that exports of selected raw materials will be routed through a new state‑owned enterprise under the Danantara holding. The move targets under‑invoicing, which the government says cost $6.5 billion in 2016, and aims to generate up to $150 billion in annual revenue.
NATO and Japan Weigh Shared Use of Satellite Launch Sites
NATO is exploring shared use of satellite launch sites with Japan under its Starlift initiative, which seeks rapid replacement of disabled satellites. The proposal would give NATO access to Japanese launch facilities such as the H‑IIA complex. Japanese officials view the partnership as a way to stimulate local economies surrounding spaceports. Discussions also include other NATO partners, indicating a broader push for collaborative space resilience.
Iran War Threatens Gulf Investment Boom in Central Asia
The 2026 "Ramadan War" between the United States, Israel and Iran has forced Gulf sovereign‑wealth funds to pause a $16 billion investment surge in Central Asia. Disruptions to the Strait of Hormuz, which carries about 20% of global oil and LNG,...
Indonesia, Philippines Launch $47 Bn Nickel Corridor to Secure EV Battery Supply
Indonesia and the Philippines signed a memorandum of understanding to establish a "Nickel Corridor" that will channel $47.36 bn of investment and create 180,600 jobs by 2030. The partnership links Indonesia's downstream smelting capacity with the Philippines' upstream ore, aiming to...
Jefferies Says India Remains a Top Emerging‑Market Target Despite MSCI Weight Drop
Jefferies analysts warned that even as MSCI reduces India’s weighting in its Emerging Markets index, the country stays a prime destination for investment‑bank advisory and capital‑raising work. The note underscores continued deal flow, M&A pipelines, and financing opportunities across sectors.
India's ENTICE 3.0 Challenge Offers $100,000 Grants for Non‑Lithium Storage and AI Grid Solutions
The Global Energy Alliance for People and Planet, together with Startup India, opened applications for ENTICE 3.0, a competition that will award up to $100,000 in technical assistance grants and pilot deployments to clean‑tech innovators tackling non‑lithium storage and AI‑driven grid...
Indian Rupee Slides to 94.47 as Forex Reserves Drop $7.8 Bn
The Indian rupee closed at 94.47 per U.S. dollar, its weakest level in months, as the Reserve Bank of India’s foreign‑exchange reserves fell $7.8 bn to $690.7 bn in the week to May 1. The twin setbacks reflect soaring crude‑oil prices and heightened...
Fuutura Responds to IMF Stablecoin Concerns with Compliance-First Infrastructure for Emerging Markets
The IMF’s April 2026 Global Financial Stability Report warned that cross‑border stablecoin flows to emerging economies surged from roughly $12 billion in early 2020 to $316 billion by early 2025, outpacing Bitcoin and Ethereum. It cautioned that unchecked growth could spur currency...
US Escalates Trade Row with China over Iran War Ahead of Trump-Xi Summit
The U.S. State Department sanctioned three Chinese companies—Meentropy Technology, Earth Eye and Chang Guang Satellite Technology—for providing satellite imagery that aids Iran’s military strikes against U.S. forces. The move comes days before President Donald Trump’s high‑stakes summit with Chinese President...
Power Shortages Threaten Kazakhstan’s $1.9 Billion Data Center Push
Kazakhstan has signed a memorandum to build a Tier IV data center worth up to $1.5 billion, paired with a $400 million, 250 MW gas‑fired power plant. The initiative is a cornerstone of President Kassym‑Jomart Tokayev’s plan to position the country as a regional...
Oil Inventories Plummet, Raising Spike and Shortage Risks
Bloomberg: “The world has burned through oilinventories at a record speed as the Iran war throttles flows from the Persian Gulf… The rapidly shrinking stockpiles mean that the risk of even more extreme price spikes and shortages is getting ever-closer, leaving governments...
A History of OPEC: Why Its Crisis Is Bad News
The United Arab Emirates announced it will leave OPEC on May 1, arguing that the cartel’s production quotas limit its roughly 5 million barrels‑per‑day capacity. The move marks the first exit of a major producer since OPEC’s founding and underscores a shift...
China’s Exports Surge 14% as Iran‑War Shipping Disruptions Ease
China’s export volume surged 14.1% in April, far outpacing forecasts, as maritime bottlenecks linked to the Iran‑War in the Strait of Hormuz eased. The rebound lifted the country’s trade surplus to $84.82 billion, underscoring the resilience of global supply chains.
April 2026 Hedge Funds Surge 4.8% as Asian Long/Short Strategies Climb 20% YTD
Global hedge funds posted a 4.8% gain in April, the strongest monthly advance since November 2020. Asian long/short managers led the charge, delivering a 20.1% year‑to‑date return, while equity‑hedge and event‑driven strategies posted double‑digit gains.
India’s Village Biotech Hub Unveils First Indigenous Bioreactor, Boosting Rural Innovation
Dyna Biotech, based in Phursungi village on Pune’s outskirts, launched India’s first indigenous bioreactor, marking a shift of high‑tech biotech into rural areas. The facility also rolled out a waste‑to‑energy system that claims five‑fold efficiency gains, positioning the hub as...
Ghana Climbs to Africa’s 8th‑Largest Economy as GDP Hits $118 Bn, Mining and ICT Lead
Ghana’s nominal GDP rose to $118.29 bn in 2026, lifting the country to Africa’s eighth‑largest economy. The surge is powered by gold mining, a booming ICT sector and expanding financial services, even as the EU warns that a widening trade deficit...
Ethiopia Leads Africa’s EV Boom as Fuel Prices Spike, $200M+ in Chinese Imports Arrive
Soaring gasoline prices have spurred a rapid rise in electric‑vehicle uptake across Africa, led by Ethiopia, which now has over 115,000 EVs and imported $200 million worth of Chinese models in 2025. The shift is reshaping demand, cutting fuel‑import bills and...
China's Shanghai and Shenzhen Indices Log Fifth Weekly Gain, Reach Two‑Month Highs
The Shanghai Composite finished flat at 4,180, its highest level in two months, while the Shenzhen Component slipped 0.5% to 15,564. Both benchmarks logged a fifth consecutive week of gains, with Shanghai up 1.65% and Shenzhen up 3.02% on a...
Nvidia's China Market Share Falls to Zero as Homegrown AI Chipmakers Accelerate
Nvidia CEO Jensen Huang announced that U.S. export restrictions have eliminated the company's direct AI chip sales in China, dropping its market share to zero. Chinese firms such as Huawei, Cambricon, Moore Threads and MetaX are rapidly scaling their own...
East Africa Capital Markets Dodge Bullet From Gulf War
East Africa’s capital markets have largely avoided the capital‑flight shock from the Gulf war, with foreign investor participation on the Nairobi Securities Exchange (NSE) slipping only modestly. In Q1 2024, foreign holdings fell 4.73 percentage points to 32.27%, and investors...
Trump Heads to China Weakened as Xi Gains Leverage Ahead of Summit
President Donald Trump arrives in China for a landmark summit while his diplomatic leverage is eroding. Ongoing war in Iran has rattled global energy supplies, and recent legal defeats on U.S. tariffs against Chinese imports have strained trade negotiations. Domestic...
India’s Exports Reach $863 Billion, Fuel Prices Loom as Growth Test
India posted a record $863 billion in total exports for FY 2025‑26, up 4.59% year‑on‑year. The surge is powered by a booming services sector and a 40% jump in electronics, but rising global oil prices threaten to erode consumer spending as petrol...
India's Goldilocks Growth Model Tested by Oil Shock and Rising Inflation
India’s “Goldilocks” growth scenario—strong GDP, moderate inflation and stable finances—is under pressure as crude oil prices have surged about 40% and inflation expectations have been lifted to 5.1%. Analysts say markets have already priced the shock, but the outcome will...
Putin Leads Scaled-Down Victory Day Celebration as Temporary Ceasefire Holds
Russian President Vladimir Putin presided over a scaled‑back Victory Day parade in Moscow, omitting tanks and ballistic missiles for the first time in years. The event took place under heightened security as a three‑day ceasefire between Russia and Ukraine appeared...
Resilience and Divergence in the Face of the Latest Oil Shock
The Iran‑Middle East conflict that erupted in February 2026 triggered a sharp oil price surge, creating a combined price‑and‑supply shock. Emerging‑market (EM) economies are being evaluated for resilience, with exporters poised to benefit while import‑dependent nations face heightened cost pressures....
Iran War Fallout: The Real Market Risks Aren’t Just Oil
The Iran‑related conflict has damaged key energy infrastructure, most notably Qatar’s Ras Laffan LNG complex, which now removes roughly 3‑4% of global LNG capacity for up to five years. Analysts estimate 40‑80 facilities across the oil‑gas‑petrochemical chain are affected, with five...
Ignore Market Noise, India’s Long-Term Story Intact, Say D-Street Bulls Ramesh Damani and Sunil Singhania
D‑Street veterans Ramesh Damani and Sunil Singhania told investors at the Groww India Investor Festival to ignore short‑term market turbulence and focus on India’s long‑term wealth‑creation story. They highlighted that foreign institutional investors have off‑loaded roughly $24.8 billion of equities in...
Week Ahead: Trump-Xi and US-China CPI
Investors are betting that the Middle East cease‑fire will hold, lifting risk assets as oil prices retreat. WTI slipped 7% to about $95 a barrel and Brent fell 6.6% to $101, reversing two weeks of gains. The week’s data focus...
Trump Says He ‘Might’ Move US Troops to Poland From Germany
President Donald Trump indicated he could relocate U.S. forces from Germany to Poland as the Pentagon plans to withdraw roughly 5,000 troops from German bases over the next year. The move aligns with Poland’s request to bolster NATO’s eastern flank,...
Pre‑Trump China Talks Spark Hope, but Doubts Linger
The timing is notable, coming just days before President Trump’s trip to China. Some hope these talks will foster more constructive relations on trade, security, and technology. Others see little chance of breakthroughs, given the challenges in this bilateral relationship. #economy...
The China 5: Tech Shifts, Youth Resistance, and Economic Cracks
Leica announced it will shift sensor development and production from Japan to China’s Gpixel, deepening local supply ties. Beijing’s regulators blocked Meta’s $2.5 billion purchase of AI startup Manus, citing national security, underscoring tighter control over strategic tech. The government also...
ADB Launches $70bn Push to Connect Asia's Power Grids and Digital Networks
The Asian Development Bank announced a $70 billion initiative to modernize Asia’s energy and digital infrastructure by 2035. The program will fund cross‑border power‑grid interconnections and create an “APAC Digital Highway” that expands broadband access across the region. By linking electricity...
Documentary Shows Mining-Funded Conservation Shaping Liberia's Nimba Mountains
The documentary "Overburden," produced by historian Gregg Mitman, examines how mining giants like ArcelorMittal are funding conservation in Liberia's Nimba Mountains. The film highlights a recent agreement between ArcelorMittal and the Liberian government to co‑manage the East Nimba Nature Reserve,...
WCM Investment Management Sells $940 Million of MercadoLibre Shares, Slashing Stake to 0.001%
WCM Investment Management sold 487,291 MercadoLibre shares worth about $940 million in Q1 2026, leaving a residual stake of just 270 shares (0.001% of its 13F AUM). The move underscores the hedge fund’s bearish view amid tech volatility and AI‑driven spending...
Rare Metals Race Fuels New Capitalism in Emerging-Market Supply Chains
Zambia’s copper exports, worth $7‑10 billion annually, and China’s aggressive undersea mineral program are intensifying a global fight for rare metals. The competition is reshaping supply chains in Africa and beyond, forcing emerging markets to confront new geopolitical and environmental pressures.
China's Crude Imports Fall 20% as Hormuz Shipments Stall, Gas Down 13%
China’s April crude oil imports slipped 20% year‑on‑year to 38.47 million tons and natural‑gas imports fell 13% to 8.42 million tons as shipments through the Strait of Hormuz stalled. The decline follows a series of U.S. strikes on Iranian‑flagged tankers and Tehran’s...
FIIs Sell over Rs 2 Lakh Crore Worth of Indian Equities in 2026. What Lies Ahead?
Foreign institutional investors have sold more than Rs 2 lakh crore (about $24 billion) of Indian equities in 2026, marking a third consecutive month of net outflows. The latest daily data showed FIIs dumped Rs 4,110.60 crore ($49 million) on Friday while domestic institutions bought Rs 6,748.13 crore, yet...
Week Signals: Is the Confidence Trick Over?
The week’s market turmoil culminated in a $920 million crude‑oil short that was placed just before an Axios report on a tentative Iran‑U.S. memorandum, prompting Paul Krugman to label the trade as likely manipulation. The episode underscores a broader surge in...
Russia’s Revived Commodity Wealth Fuels Putin’s Renewed Aggression
Putin didn’t suddenly become belligerent because of NATO. The real shift was power. As commodity revenues returned, Russia regained options, confidence and leverage. And with that came the re-emergence of much older ambitions. That was the moment the trajectory changed. #Geopolitics #Russia #Putin #Ukraine...
China's Central Bank Adds Gold for 18th Month
After adding 5 tons of gold to its war chest in March, the People’s Bank of China purchased another 8.1 tons in April. This marks the 18th consecutive month that China has increased its gold reserves. BUY GOLD, WEAR DIAMONDS. https://t.co/jPZkT7Ljpc
Could UAE Move to De-Peg Early?
The United Arab Emirates is weighing an early de‑peg of the dirham from the U.S. dollar amid a war‑driven oil export slump and its recent exit from OPEC. Proponents argue that a flexible, potentially stronger currency would leverage the emirate’s...
Putin Says Ukraine War Nearing End, Names Schroeder for Talks
MOSCOW, May 9 (Reuters) - Russian President Vladimir Putin said on Saturday that he thought the Ukraine conflict was coming to an end. Asked if he was willing to engage in talks with the Europeans, he said the preferable figure was...
Employment Shifts Are Natural Amid China, AI Shocks
When worrying about China shocks and AI shocks it is worth remembering that shifts in the structure of employment are inherent to the process of modern economic growth. Featured in today`s Chartbook Top Links. https://t.co/ZVFw6lleGb
Can China Stop Its Demographic Slide? Can the United States?
China’s fertility rate continues to fall despite the shift from a one‑child policy to two‑ and three‑child allowances, leaving the nation on track for a loss of roughly 786 million people by 2100. RAND researchers warn that a shrinking, aging workforce...
China Urges France to Push EU for Open Markets
China says it hopes France will play an active role in encouraging the EU to keep its markets open https://t.co/FZXFix0KRq https://t.co/K0oLTDpdnR
Emerging Markets Showing Unprecedented Relative Strength
I've never seen such relative strength in Emerging Markets... of course, I was in high school from 2003-2006 (not looking at charts) $EEM @wisdomtreefunds https://t.co/Z5B2ZbCVtI
China Defies Strait of Hormuz Crisis with Record Monthly Export Value in April
China’s export sector posted a record‑breaking month in April, with total outbound shipment value climbing 14.1% year‑on‑year, far exceeding market forecasts. The surge came despite the ongoing Strait of Hormuz crisis, which has driven up energy prices and shipping costs...
Rising Chip Prices Boost Chinese Export Volume Growth
Estimating Chinese export and import volumes is challenging now, as rising chip prices are pushing up export and import prices -- if March prices carried over, April export volumes were around 15% ... and export volume growth is accelerating at the...
China's April Export Surge Reaffirms Trade as Stabilizer
JUST IN: China's export growth sped up in April after a short slowdown in March, underscoring trade's role as a main economic stabilizer.
Contractors Submit Bids for Saudi Gas Processing Plant Project
Contractors have begun submitting bids for the Khafji gas processing plant, a key component of three multibillion‑dollar projects targeting gas from Saudi Arabia's Dorra field. The venture is being driven by subsidiaries of Saudi Aramco and Kuwait Petroleum Corporation, signaling...
GIR Weighed Down by MidEast War-Induced Volatility
Philippines’ gross international reserves (GIR) dropped to $104.1 billion in April, the lowest level since January 2025. The decline was driven by central bank dollar sales to curb peso volatility, lower offshore investment values, and a dip in gold holdings amid rising...