The Great Un-Bundling: How Maturing Indian Markets Are Shrugging Off Concentration
The National Stock Exchange’s April Market Pulse report shows Indian equities shifting from a commodity‑led base to financial‑sector dominance, with financials now accounting for 25% of market capitalisation. Materials and energy shares have receded, while information technology grew to 8% of the market. A parallel study reveals foreign portfolio investors falling to a 13‑year low of 16.6%, while domestic institutional investors rose to a record 18.7% share. Together, these trends signal reduced concentration and a maturing, more diversified market structure.
Germany’s Merz Says No ‘Immediate’ Ukraine EU Membership, Floats Kyiv Joining Meetings
German Chancellor Friedrich Merz told an EU summit that Ukraine cannot join the bloc immediately, but could attend European Council meetings without voting rights. The statement comes as Hungary’s nationalist opposition eases after Viktor Orbán’s electoral defeat, reviving hopes for faster progress....
Oil Hits Highest Level Since US-Iran Ceasefire Began, as Conflict Hurts Gulf Crude Production – as It Happened
Brent crude rose to $105 a barrel, the highest level since the US‑Iran ceasefire was announced in early April, as fighting in the Middle East curtails Gulf crude output. The price surge follows a jump from sub‑$70 earlier in 2026...
Crude Awakening: Why Energy Shocks Demand More than Quick Fixes
A sudden closure of the Strait of Hormuz has reignited a global energy supply crunch, pushing Brent crude, diesel and jet fuel prices sharply higher and tightening LNG markets. The spike has already lifted fertilizer costs by roughly 25%, threatening...
The Deeper Forces Shaping Global Trade
Global trade is being reshaped by forces beyond tariffs, as technology and economic development drive new production and consumption patterns. While Middle‑East shipping disruptions and uncertain U.S. tariff policy capture headlines, long‑term shifts in digital infrastructure and emerging‑market demand are...
India Procures Spot LPG Cargoes From the US as West Asian Supplies Still Under Cloud
India’s state‑run oil marketing companies are boosting spot LPG purchases from the United States to offset supply uncertainty from the Middle‑East Gulf region. The OMCs already hold a long‑term US contract and have expanded their source pool from 10 to...
Landside Infrastructure Is Container Shipping’s Next Great Chokepoint
Container shipping faces a looming bottleneck on the landside, as stagnant port capacity and inadequate hinterland connections threaten to eclipse current maritime chokepoints like the Red Sea. Trade analysts warn that without significant upgrades, ports will struggle to handle the...
Brent Holds at $105 as Iran Talks Temper Rally
Brent crude held steady at $105 per barrel on April 24 as renewed U.S.–Iran diplomatic talks capped further upside, keeping prices below the $110 threshold. Iran’s Revolutionary Guard seized two container tankers after the U.S. captured the Iranian vessel Touska, heightening...
The Fallout: How the Iran War Is Wreaking Havoc in Africa
The IMF’s April Regional Economic Outlook warns that the Iran war will shave 0.3 percentage points off Sub‑Saharan Africa’s growth, lowering the 2026 forecast to 4.3% and pushing median inflation to about 5%. Currency depreciation, shrinking foreign aid and tighter...
Why Are the Saudis Sitting Out the War With Iran?
Saudi Arabia is watching the U.S.-Israel war with Iran from the sidelines while its Vision 2030 megaprojects face budget cuts and timeline extensions. The kingdom’s Public Investment Fund is pivoting toward renewables, advanced manufacturing, logistics and tourism, and Riyadh continues to...
What China’s New County Reveals About Its Afghanistan Policy
China announced the creation of Cenling County in Xinjiang’s border with Afghanistan’s Wakhan Corridor, a move that extends a series of frontier‑administrative reforms begun in 2024. The new county is positioned to support the long‑discussed Wakhan Road, a potential overland...
The Fed Pivot: Assessing a Potential Generational Shift at the Federal Reserve
The article examines the potential appointment of former Fed governor Kevin Warsh as Jerome Powell’s successor and the policy shifts his leadership could bring. Warsh advocates a more forward‑looking interest‑rate framework that privileges productivity gains, a faster balance‑sheet normalization through...
Why Investment in Caspian Transit Routes Is Crucial for Energy Security
Investment in Caspian transit routes is accelerating as the Middle Corridor emerges as a strategic alternative to war‑disrupted traditional pipelines. Stakeholders at the Baku forum highlighted new assessments of the CPC, BTC and Baku‑Supsa pipelines, alongside plans for a Turkmen‑Afghanistan‑Pakistan...
Rules for the Rest of Us
The article argues that the Global South’s alternative to existing international rules is not unfettered freedom but a coordinated exercise of collective power. It highlights how Chile, under former President Gabriel Boric, leveraged regional alliances and shared frameworks to amplify its...
Breakbulk26: War-Related Financial, Schedule Shocks Ahead for Energy Projects
War‑related disruptions are delivering a sharp financial shock to the project cargo sector, with shippers facing rising costs and looming schedule delays. Fluence Energy’s logistics chief warned that the impact will intensify in the fall, prompting the company to pre‑order...
Atlantic Council Front Page Event with U.S. Trade Rep. Jamieson Greer Cited in Bloomberg on the Issue of Transshipment Under...
Bloomberg reported that U.S. imports worth roughly $300 billion have been rerouted through third‑country transshipment to sidestep tariffs imposed under the Trump administration. The practice exploits a loophole in the United States‑Mexico‑Canada Agreement (USMCA) that allows goods to retain preferential status...
Mongolia Is Redefining Steppe Diplomacy With Kazakhstan
Mongolian President Khurelsukh Ukhnaa completed the first state visit to Kazakhstan in two decades, cementing a strategic partnership first announced in 2024. The leaders signed 13 agreements covering trade, energy, mining and agriculture, and set a goal to raise bilateral...
China to Tighten Rules on US Tech Investment
Chinese regulators, led by the National Development and Reform Commission, are set to require government approval for any U.S. investment in sensitive technology firms, including AI startups. Private tech companies have been instructed to reject U.S.-linked capital in funding rounds...
Orbán’s Election Loss Frees up €90 Billion for Kyiv but Raises Thorny Question of EU Membership for Ukraine
The EU has unlocked a €90 billion ($97 bn) loan to Ukraine after Hungary’s new government dropped its veto. The disbursement coincides with the EU’s 20th sanctions package against Russia, tightening pressure on Moscow. While the funding fills critical financing gaps for...
Island's Inflation Rate Is 2.7%, New Figures Show
Jersey’s retail price index (RPI) rose 2.7% year‑over‑year to March 2026, a slight dip from the 2.8% recorded in the previous quarter. Energy costs surged, with heating oil and other fuels up 31.9% amid the Middle East conflict. Food and drink...
Trump Increasingly Eyes Critical Minerals in Trade Policy Strategy
Washington is making critical minerals a cornerstone of its trade strategy, targeting African producers as key partners. Recent US trade agreements with Ukraine and Malaysia embed preferential access for American firms while restricting ties with rivals like China, signaling a...
IGC Pares Global Grain Output Projections for 2026-27 by 3 Million Tonnes
The International Grains Council lowered its 2026‑27 global grain output forecast by 3 million tonnes to 2.414 billion tonnes, citing fertilizer affordability concerns tied to the West Asia war. The cut applies across major crops, including wheat and maize, and reduces the...
Trump's Trade War Timeline 2.0: An Up-to-Date Guide
The updated Trade War Timeline 2.0 chronicles every official U.S. trade action taken during President Donald Trump’s second term, which began in 2025. Authored by PIIE economist Chad P. Bown, the guide links to a public spreadsheet that details tariffs,...
Chhangani’s CIPS Data and Lipsky Cited in NY Times Article
The New York Times cited Atlantic Council experts Alisha Chhangani and Josh Lipsky in a piece on China’s Cross‑Border Interbank Payment System (CIPS) and its growing role in Iran’s trade. Chhangani’s data show CIPS transaction volumes with Iran surged to...
Donovan and Nikoladze Cited in FXStreet Article Stating that Central Banks Building up Gold Reserves to Shield From Sanctions or...
In a recent FXStreet analysis, Atlantic Council experts Kimberly Donovan and Maia Nikoladze highlighted a surge in central‑bank gold purchases. They argue that banks are stockpiling the metal to hedge against potential sanctions and a looming financial crisis. The commentary...
Chhangani’s CIPS Data and Lipsky Cited in Article by The Economist Discussing the Positive Impacts of the America-Iran War on...
The Economist cited research from Chhangani and Lipsky showing that the ongoing America‑Iran conflict has boosted the adoption of China’s Cross‑Border Interbank Payment System (CIPS). Data indicate a roughly 40% jump in CIPS transaction volume as Iranian firms seek alternatives...
Lichfield’s Testimony Quoted in House of Lords’ International Relations and Defense Committee’s 3rd Report of Session 2024–26
Charles Lichfield, senior fellow at the Atlantic Council, was quoted in the House of Lords International Relations and Defense Committee’s third report for the 2024‑26 session. His testimony emphasized the urgency of bolstering UK defence spending, deepening NATO interoperability, and...
Mühleisen’s Interview with Luxembourgish Minister Pierre Gramegna Featured in a European Stability Mechanism Article
The Atlantic Council published an interview conducted by Mühleisen with Luxembourg’s Finance Minister Pierre Gramegna, focusing on the European Stability Mechanism (ESM). Gramegna outlined Luxembourg’s support for strengthening the ESM’s capital framework and expanding its crisis‑response tools. He also stressed...
Atlantic Council Front Page Event with World Bank Group President Ajay Banga Featured in Reuters Article on Funds for Countries...
World Bank President Ajay Banga announced at an Atlantic Council Front Page event that the institution could mobilize up to $100 billion to support countries devastated by war. The proposed financing package would combine concessional loans, grants, and guarantees to spur...
Banque De France Governor François Villeroy De Galhau’s Speech From the Atlantic Council Featured in Banque De France Article
Banque de France Governor François Villeroy de Galhau delivered a speech at the Atlantic Council that was subsequently highlighted in a dedicated Banque de France article. He underscored the strategic value of a robust transatlantic partnership for monetary stability, digital‑currency...
European Consumers Rush to EVs as Gas Prices Soar
European consumers are rapidly adopting electric vehicles as soaring gasoline prices, driven by the U.S.-Israel conflict with Iran, tighten fuel supplies. EV lobby data shows a 51% surge in registrations in March, with electric cars accounting for 22% of all...
Why Trump Is Threatening to Impose a ‘Big Tariff’ on the U.K.
President Donald Trump warned that the United States will impose a "big tariff" on the United Kingdom unless London repeals its 2% digital services tax on U.S. tech firms. The levy, introduced in 2020, has raised roughly $3.2 billion for the...
UK Food Inflation Could Hit 7% – Bank of England Survey
Businesses surveyed by the Bank of England warn that UK food inflation could climb to 7% this year, higher than earlier forecasts. Official data showed food and non‑alcoholic drink prices rose 3.7% in March, up from 3.3% in February. The...
Businesses Pay Up to $4 Million to Cross Panama Canal
Businesses are paying up to $4 million for premium Panama Canal slots as the Strait of Hormuz remains effectively closed. The canal’s auction system now commands an extra $425,000 on top of the standard $300,000‑$400,000 crossing fee, reflecting soaring demand. Companies...
Beyond the Headlines: Where Federated Hermes Sees Real Opportunity in the Asia Ex-Japan Region
Federated Hermes highlights a compelling investment case across the Asia ex‑Japan region, focusing on deep‑value opportunities in China, a multi‑year re‑rating in South Korea, and contrarian upside in Thailand. The firm points to record‑low price‑to‑earnings multiples in China, single‑digit P/E...
EU Widens Sanctions on Russian Energy Sector
The European Union announced a new sanctions package targeting Russia's oil and gas sector, adding regional producers Bashneft, Slavneft and Nizhnevolzhskneft, 12 major refineries, and several Gazprom subsidiaries to its blacklist. The measures also extend to maritime assets, sanctioning 46...
How China, Russia, and North Korea Enable Each Other’s Atrocities
A new Seoul‑based report by the Citizens Alliance for North Korean Human Rights exposes a state‑directed system that traffics North Korean workers to Russia as forced labor, fueling both Moscow’s war in Ukraine and Pyongyang’s weapons program. The investigation links...
A Quarter of All Online Sales in Europe Come From Abroad
Cross‑border e‑commerce now accounts for a quarter of Europe’s online retail, generating €108 billion in 2025 – roughly $117 billion USD. After a brief dip in 2024, the segment recovered but growth has shifted from sheer volume to efficiency and profitability. The...
U.K. to Face ‘Big Tariff’ if They Don’t Drop Digital Services Tax on U.S.
President Trump warned the United Kingdom that a substantial tariff could be imposed unless it repeals its 2% digital services tax on U.S. tech firms. The levy, introduced in 2020, applies to revenue generated by Google, Meta and Apple from...
Dollar Eases as US–Iran Talk Hopes Rise, Markets on Guard for Weekend Risk
The dollar eased after reports that Iranian Foreign Minister Abbas Araqchi will travel to Islamabad, suggesting a thaw in U.S.-Iran diplomatic talks. Traders trimmed defensive positions, and Brent crude slipped to around $105 per barrel from a brief $108 peak....
Carriers Forced to Manage Capacity to Prevent Spot Rate ‘Free-Fall’
Container freight spot rates on Asia‑Europe routes have retreated toward pre‑conflict levels, with Shanghai‑Rotterdam falling 4% to $2,147 per 40 ft and Shanghai‑Genoa down 8% to $3,071. Drewry and Xeneta attribute the decline to seasonal weakness and excess capacity, prompting carriers...
National Bank of Hungary Preview: The Chance of a Cut This Year Has Vanished
The National Bank of Hungary (NBH) is expected to leave its policy rate at 6.25% through the end of 2026, as geopolitical uncertainty and post‑election fiscal questions limit flexibility. A recent removal of forward‑guidance language signals a more hawkish stance,...
Helping Iran, China Is a Party in the War
China is covertly bolstering Iran’s war capabilities despite publicly claiming neutrality. Recent investigations reveal Beijing supplied a commercial reconnaissance satellite, air‑defense missiles, and large quantities of sodium perchlorate for solid‑fuel rockets. Additional reports cite Chinese AI firms providing geospatial data...
Sebi Eases FPI Settlement Norms, Allows Netting of Funds in Cash Market to Cut Costs, Improve Efficiency
The Securities and Exchange Board of India (Sebi) has introduced a net‑settlement framework that lets foreign portfolio investors (FPIs) offset cash flows for outright transactions in the cash market. Under the new rule, buy and sell positions in a single...
EU: European Parliament and Council Reach Agreement on the EU Customs Reform
On 26 March 2026 the European Parliament and Council approved the most sweeping EU customs reform since 1968, replacing the Union Customs Code with a new Regulation (nUCC). The package creates an EU Customs Authority in Lille and a single EU Customs...
Next Africa: Could Dangote's IPO Transform Investing? (Podcast)
Aliko Dangote's conglomerate is preparing a roughly $10 billion initial public offering, the biggest ever on an African exchange. The Bloomberg podcast examines how the listing could reshape capital flows into the continent and set a new valuation benchmark for local...
Will China’s Deal with Australian Mining Giant BHP Boost Yuan Internationalisation?
Australian miner BHP has agreed to price its flagship Jimblebar fines using a blended formula that weights 51% of the price on yuan‑denominated indexes and 49% on traditional US‑dollar benchmarks. The move incorporates China’s own market‑trade data for the first...
Mercosur: MEPs Letter Warns of Concentration Risk Due to Quota Allocation System
The European Parliament is circulating a letter warning that the EU‑Mercosur trade deal’s quota allocation system could concentrate beef and poultry imports in the hands of a few large South American agribusinesses, especially Brazil’s JBS. The agreement, set to enter...
LVMH CEO Bernard Arnault Says Middle East Crisis Could End in ‘World Catastrophe’ if Not Resolved
LVMH chief Bernard Arnold warned that the ongoing Middle‑East conflict could spiral into a "world catastrophe" with severe economic fallout. The warning came as the luxury group posted a weak first‑quarter 2026, with revenue slipping 6% to €19.1 bn (about $20.8 bn)...
Explained: What Is the UK Digital Services Tax and Why Has It Angered Trump?
The United Kingdom’s Digital Services Tax (DST), a 2% levy on revenues from social media, search engines and online marketplaces, generated roughly £944 million (about $1.18 billion) in 2025‑26, a 17% increase year‑over‑year. The tax applies to firms with worldwide digital revenues...