Kazakhstan’s AIFC Discussing Stock-Trading Links with Shanghai, Hong Kong
The Astana International Financial Centre (AIFC) is negotiating with Hong Kong and Shanghai exchanges to launch cross‑border stock‑connection schemes, likely beginning with ETFs denominated in tenge and yuan. Kazakh investors are keen on Chinese tech giants like Tencent and carmaker BYD, while Chinese investors seek exposure to Kazakh mining firms. The effort builds on a 2014 currency swap worth roughly $982 million and $371 million and follows recent dual‑listings and MoUs that deepen the AIFC‑Shanghai partnership. By positioning itself as a Belt and Road gateway, the AIFC aims to channel more international capital into Central Asia.
Shadow Fleet Attacks Widen Maritime Risks Around Russia
Ukraine intensified attacks on vessels carrying Russian crude, striking two shadow‑fleet tankers near Novorossiysk and a Baltic Sea tanker in early May. The assaults follow the April 26 hit on the dark‑fleet tanker Marquise and a April 30 strike on...
Philippine Manufacturing Shrinks in April as War-Driven Costs Bite
The Philippines’ manufacturing PMI slipped to 48.3 in April, its first sub‑50 reading since November 2023, indicating contraction. The decline was driven by a sharp fall in new orders—the steepest since August 2021—and a surge in input‑price inflation, the fastest...
BoT Chief Calls for Targeted Stimulus Package
Bank of Thailand Governor Vitai Ratanakorn urged the government to craft a stimulus package that mixes cash transfers with sector‑specific investment to offset rising energy costs from the Middle‑East conflict. He warned that a premature rate hike, despite the BoT’s...
Southeast Asia’s Deep Tech Startups Look to Japan for Growth
Southeast Asian deep‑tech startups are increasingly looking to Japan for patient capital and market access as regional funding dries up and domestic markets stay small. At the SusHi Tech conference, nearly 70 firms from the region showcased technologies ranging from...
Trump Says the US Will 'Guide' Stranded Ships From the Strait of Hormuz, Starting on Monday
President Donald Trump announced "Project Freedom," a U.S. operation to guide stranded commercial vessels and roughly 20,000 seafarers out of the Iran‑blocked Strait of Hormuz starting Monday. The effort will involve guided‑missile destroyers, more than 100 aircraft and about 15,000...
Uzbekistan Receives Major Asian Development Bank Economic Assistance Package
The Asian Development Bank announced a $12.5 billion assistance package for Uzbekistan, spanning a partnership program through 2030. The funding will boost private‑sector growth, a stable mortgage market, and entrepreneurship among youth and women. At the same meeting, ADB unveiled a...
South Korean Economy Highly Exposed to US Ally Gone Rogue- #CapitalMarkets #Finance
South Korea’s economy, heavily reliant on exports and energy imports, faces heightened risk from President Donald Trump’s aggressive trade and security policies. The United States has kept tariffs at 15% after Seoul committed to invest roughly $350 billion in the U.S.,...
China Signs Billions Worth of Contracts with Turkmenistan, but No Financing
Turkmenistan will fully fund a $4.6 billion Galkynysh gas‑field development with China’s CNPC subsidiary, with Beijing providing no financing. Construction is slated to begin in 2026 and run for just over four years. Chinese firms have also floated magnesium‑alloy and polycarbonate...
Manufacturing PMI Rises in April as Supply Disruptions and Inflation Intensify, S&P Global Says
Australia’s manufacturing PMI edged up to 51.3 in April, pulling the sector back into modest expansion after a March dip below 50. The rise was driven mainly by longer supplier delivery times and higher input inventories, not by stronger demand....
The US Has Banned the World’s Best Drones. It Has Not Figured Out How to Make Them.
The FCC’s December 2025 decision automatically placed DJI on the Covered List, halting imports of new DJI drones that command roughly 80% of the U.S. consumer and commercial market. In response, Skydio unveiled a $3.5 billion, five‑year SkyForge program to build a...
Bulker Attacked by Small Craft in the Strait of Hormuz
A Greek‑owned bulk carrier, the Minoan Falcon, was attacked by small craft while transiting northbound in the Strait of Hormuz near Sirik, Iran. The vessel entered Iran’s 12‑mile territorial sea, reversed course and later disabled its AIS transponder. Simultaneously, Iran’s Revolutionary...
Pakistan Defends Record on Forced Labour
Pakistan has formally responded to a U.S. Trade Representative Section 301 investigation that targets 60 economies over alleged forced‑labour imports, putting its textile and apparel sector under scrutiny. The probe could trigger punitive tariffs on Pakistani garments, which represent the bulk...
How Countercyclical Capital Buffers Travel: Internal Capital Markets and Domestic Borrowing
The paper shows that when a foreign jurisdiction raises its countercyclical capital buffer (CCyB), German banks cut credit to the affected subsidiaries by about 10%. Multinational parents offset this loss by increasing internal debt to the subsidiaries, leaving overall subsidiary...
Quantifying the Impact of the Iran War on US Inflation
The authors combine a calibrated DSGE model of the global oil market with a monthly structural VAR to estimate how the 2026 Iran war’s oil‑supply shock could affect U.S. inflation. A 15 % shortfall lasting one quarter pushes WTI crude to...
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De-Dollarization: What Is It, and Is It Happening?
De‑dollarization describes the gradual reduction of the U.S. dollar’s dominance as the world’s primary reserve currency. The IMF reports the dollar’s share of allocated reserves fell to about 57% in Q4 2025, down from over 70% in 2001. China’s renminbi, gold...
US Futures Gain, Oil Falls on Signs of Iran Talks: Markets Wrap
US stock futures edged higher on Monday, with S&P 500 futures gaining 0.2% after the index closed at a record high on Friday. Nasdaq 100 futures also rose, reflecting renewed risk appetite. Brent crude fell about 2% as traders priced in the...
US, Iran to Allow some Hormuz Transit: Trump
The United States and Iran announced they will permit neutral vessels stranded in the Gulf of Oman to transit the Strait of Hormuz, a move President Trump called "Project Freedom." Over 700 ships, including about 120 fully‑laden tankers, have been...
Chinese Manufacturing Growth Hits Highest Level Since 2020 – RatingDog
China's General Manufacturing PMI jumped to 52.2 in April, the strongest reading since December 2020 and the fifth consecutive month above the 50‑point growth threshold. The surge was fueled by a rapid rise in new orders, especially in consumer goods,...
War in Middle East Drives Japan’s Sharpest Supply Delays in 15 Years
Japan’s manufacturing sector rebounded strongly in Q2, with the S&P Global PMI climbing to 55.1 in April – the highest level since 2014. The surge was driven by a mix of robust sales, inventory‑building, and heightened demand for AI‑related equipment....
CHINA VS USA: THE GLOBAL TRAVEL AND TOURISM EQUATION CHANGE
China’s travel and tourism sector surged 9.9% in 2025, contributing $1.75 trillion to GDP and lifting foreign visitor spending by 10.5% to $135 billion. The United States, while still the world’s largest tourism market at $2.63 trillion, saw growth slow to 0.9% and...
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North American Free Trade Agreement (NAFTA): What It Was and How It Worked
The North American Free Trade Agreement, enacted in 1994, removed most tariffs among the United States, Canada, and Mexico, creating a trilateral free‑trade zone. Over its 26‑year lifespan, bilateral trade surged from roughly $290 billion to more than $1 trillion, while side...
Trump Says He Is Reviewing Iran's Latest Plan for Peace, but 'Can't Imagine It Would Be Acceptable'
Iran, via Pakistani mediators, submitted a 14‑point peace proposal to the United States, seeking a cease‑fire, U.S. troop withdrawal, lifted naval blockades, release of frozen assets and a new Strait of Hormuz management mechanism. President Donald Trump said he will...
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THE AMBASSADOR: Japanese Foreign Minister’s Visit to SA Set to Intensify Relations
Japanese Foreign Minister Toshimitsu Motegi will travel to South Africa on May 4, part of a broader Africa tour that includes Zambia, Angola and Kenya. The visit aims to deepen supply‑chain ties for critical minerals and reinforce Japan’s partnership with...
UK to Join EU Ukraine Loan Talks in Defence Push
The United Kingdom will open negotiations to join the European Union’s €90 billion (approximately $98 billion) loan programme for Ukraine, a move announced by Prime Minister Keir Starmer ahead of the European Political Community summit in Yerevan. By seeking a seat at...
The $166 Billion Question: Who Really Wins From America’s Tariff Refund Wave?
U.S. Supreme Court ruled that the International Emergency Economic Powers Act cannot be used to impose broad import tariffs, nullifying the 10% “Liberation Day” duties and triggering an estimated $160‑170 billion in potential refunds for importers. Companies such as RTX, Ross...
Basic Goods in Cuba Are Increasingly Sold in U.S. Dollars as Economy Collapses. ‘Everything Is Scarce Here — Everything —...
Cuba’s deepening economic crisis has forced state‑run bodegas to price basic staples in U.S. dollars, while the traditional ration book has dwindled to a token handful of items. Average monthly wages hover around 6,000 Cuban pesos (≈$12), insufficient to cover...
Trump Says US to Help Free up Ships in Strait of Hormuz Starting Monday Morning
President Donald Trump announced that the United States will launch a naval operation on Monday morning to free ships stranded in the Strait of Hormuz. The effort follows a recent buildup of Iranian missile drills and Houthi attacks that have...
As Economic Despair Mounts, Russian Official Admits the Country Has Had Enough of Putin’s War on Ukraine. ‘We Can’t Even...
Russia’s economy contracted in the first two months of 2026, prompting Vladimir Putin to publicly acknowledge the downturn. Ukrainian drone strikes have damaged key oil‑export hubs and forced a scaled‑back Victory Day parade, underscoring mounting military setbacks. Domestic discontent is...
Mideast Peace Efforts in Focus as Trading Resumes: Markets Wrap
Investors are weighing the latest Middle‑East truce proposals as the market resumes trading after a week of heightened tension. President Trump announced the U.S. will begin guiding non‑combatant vessels out of the Strait of Hormuz and cited "very positive" talks...
Fitch Stress Test Sees No Turkish Bank Failure Even if Iran Conflict Drives Lira to USD/75
Fitch Ratings’ stress test shows that Turkish banks can absorb a severe shock from a prolonged Iran conflict, even if the lira slides to 75 per dollar and non‑performing loans rise to 7.5% by end‑2026. In the worst‑case scenario only...
Philippines Accuses China of Conducting Illegal Marine Research
The Philippine Coast Guard accused four Chinese vessels of conducting illegal marine scientific research in Philippine waters, violating UNCLOS. The fleet includes an advanced oceanographic survey ship and the world’s first intelligent drone mothership capable of deploying over 50 unmanned...
India and Tanzania Review Expanding Trade and Digital Cooperation at Joint Trade Committee Meeting
India and Tanzania held the fifth Joint Trade Committee meeting in Dar es Salaam, reviewing progress since 2017 and outlining deeper cooperation across digital infrastructure, health, energy and agriculture. Bilateral trade grew to $9.02 bn in 2025‑26, up from $8.64 bn the...
Mideast Peace Efforts in Focus as Trading Resumes: Markets Wrap
Investors are reassessing the recent rally in risky assets as the latest Middle‑East truce proposals take center stage. President Donald Trump announced that the United States will begin guiding non‑combatant ships through the Strait of Hormuz starting Monday, signaling a...
Monday Briefing: Japan’s PM Visits Australia
Japanese Prime Minister Sanae Takaichi arrived in Canberra for a face‑to‑face meeting with Australian Prime Minister Anthony Albanese, marking their fourth encounter and the first outside a multilateral summit. The leaders convened at Parliament House amid a strained global economic...
ECB’s Stournaras Sees Recession Concern, Phileleftheros Says
European Central Bank Governing Council member Yannis Stournaras, also governor of the Bank of Greece, warned that a euro‑area recession risk is "real and justified" amid supply‑side shocks from the Middle East conflict. He noted that higher energy prices have...
Atiku Cautions Tinubu Against Oil Windfall Misuse, Reserve Depletion
Former Vice President Atiku Abubakar warned President Bola Tinubu that Nigeria’s recent oil windfall – roughly $11 billion – is being squandered while external reserves fell by about $1.57 billion in a single month. He argued that the Central Bank’s foreign‑exchange interventions...
Australia and Japan Face a Similar Dilemma: How to Be Indispensable to the US without Relying on It
Japanese Prime Minister Sanae Takaichi’s visit to Australia comes as the United States diverts forces to the Middle East, raising doubts about its long‑term Indo‑Pacific presence. Both Tokyo and Canberra are deepening defence cooperation, highlighted by Australia’s purchase of 11...
The Clock Is Ticking as Oil Markets Barrel Toward Nightmare Scenarios with the West Bracing for ‘Tank Bottoms’ and Iran...
The West and Iran face opposite oil emergencies as the Strait of Hormuz stays closed, threatening “tank bottoms” for consuming nations and “tank tops” for Iran. Analysts warn OECD crude inventories could hit operational minimums by late May, while Iran...
Kiwi Exporters Eye $1b Windfall After US Supreme Court Overrules Tariffs
The U.S. Supreme Court struck down IEEPA‑based tariffs, unlocking up to NZ$1 billion (≈US$600 million) in refunds for New Zealand exporters. EY New Zealand’s modelling shows eligibility depends on whether the exporter is the U.S. importer of record, creating an uneven recovery landscape. The...
Ukraine Hits Two Tankers at Novorossiysk and Three Vessels at Primorsk
Ukraine’s security forces used long‑range drones to strike two shadow‑fleet tankers at the Black Sea port of Novorossiysk and three vessels—including a Karakurt‑class guided‑missile corvette, a patrol boat, and another tanker—at the Baltic port of Primorsk. The attacks demonstrate Ukraine’s...
To Lam Meets Modi, ASEAN Ministerial Meeting, Sony's Business Strategy
Vietnamese President To Lam is on a three‑day state visit to India to meet Prime Minister Narendra Modi, aiming to deepen security, trade and digital cooperation amid rising China tensions. At the same time, the Philippines hosts the ASEAN ministerial meeting that...
Global Aluminium Market Shaken but Resilient Amid Middle East Conflict
The ongoing Strait of Hormuz conflict has disrupted the global aluminium market, cutting off roughly 7% of supply and damaging about 3% of worldwide production capacity. Prices have surged to near‑historic levels, averaging $3,400 per tonne and are expected to...
Markets with Bertie: Why Are the Foreigners Flitting Off ?
Foreign Institutional Investors (FIIs) withdrew roughly $20 bn from Indian equities in the first four months of 2024, a figure mirrored—and even exceeded—in Korea where outflows approached $40 bn. The popular narrative that capital is fleeing India because it lacks listed AI...
Global Upgrade for Major Ports
India is shifting its 12 major government‑owned ports to a corporatised model under the Major Port Authorities Act of 2021. The change aims to give publicly owned ports commercial autonomy, professional management and easier access to capital, while retaining public...
Weakening Peso
The Bangko Sentral ng Pilipinas lifted its benchmark rate by 25 basis points to 4.5% as oil prices surged past $120 per barrel amid a renewed Hormuz blockade. The central bank aims to curb second‑round inflation and stabilize a peso...
Government Borrowings Fall by Nearly 40 Percent in March
The Philippines’ Treasury reported a sharp 39.4% drop in total government borrowings in March, falling to ₱116.66 billion (about $2.1 billion) from ₱192.45 billion a year earlier. The decline was driven by a 70.4% plunge in domestic debt, while external financing more than...
17-Year US Bull Market
The U.S. equity market has entered its 17th year of an uninterrupted bull run, with the S&P 500 breaking 7,200 and the Nasdaq 100 soaring past 27,000 despite geopolitical tensions and rising oil prices. The rally is being powered by a succession...
DA Eyes Expanded MAV for Pork, Corn
The Philippine Department of Agriculture is set to approve an expanded Minimum Access Volume (MAV) for imported pork and corn under the MAV Plus scheme within the month. The expansion adds roughly 250,000 metric tons of corn to the existing quota...
DRC Mining Boom Masks Heavy Reliance on China and Copper
The Democratic Republic of Congo’s mining sector is projected to generate almost $40 billion in exports by 2025, but the boom is underpinned by a narrow trade profile. China absorbs roughly 62% of the country’s mineral shipments, while copper alone represents...