Indonesia Advances Export Control Plan Despite Uncertainty
Indonesia is moving forward with a plan to centralize exports of its key commodities, requiring producers to submit documentation to the newly created state‑owned firm PT Danantara Sumberdaya Indonesia starting June 1. The move targets coal, palm oil and ferro‑alloy shipments and was announced by Coordinating Economic Minister Airlangga Hartarto. By consolidating export licensing, Jakarta aims to tighten oversight and capture a larger share of revenue. The policy introduces regulatory uncertainty for domestic producers and downstream buyers.
African Development Bank Allots $650 Million for Uganda Railroad
The African Development Bank has tentatively pledged about $650 million to help finance Uganda’s new railway linking Kampala to Malaba on the Kenyan border. The announcement was made by AfDB Vice‑President Abdul Kamara during the bank’s annual meeting in Brazzaville. Uganda’s finance...
Saudi Contractor’s Owners Seek Up To $800 Million in Riyadh IPO
Mutlaq Al‑Ghowairi Contracting Co. (MGC) is seeking up to 3 billion riyal ($799 million) in a Riyadh IPO, offering 240 million shares that represent a 30 percent stake. The shares are priced between 11 and 12.5 riyal ($2.93‑$3.33) each, which would value the company...
Philippines Seeks Closer Ties With China's Adversaries
Philippine Defense Secretary Gilberto Teodoro told Bloomberg that Manila is tightening security ties with traditional U.S. allies such as Australia, New Zealand, and Japan to counter China’s assertiveness in the West Philippine Sea. He framed the move as a deterrence strategy...
China Factory Activity Worsens in Warning Sign for Economy
China’s official manufacturing PMI slipped to 50 in May, down from 50.3 in April, indicating a marginal contraction. The decline reflects the impact of a five‑day holiday break, weakening global demand and higher input costs tied to the Middle East...
US Jobs Report Set to Reveal Solid Growth, Steady Unemployment Rate
The U.S. Labor Department will release its May 2026 employment report on Friday, with economists forecasting the unemployment rate to remain steady at 4.3%. Payrolls are projected to rise by 89,000 jobs, pushing the three‑month average to the highest level...
Philippine Central Bank Says Inflation May Surge Further in May
The Bangko Sentral ng Pilipinas warned that May inflation will likely rise to between 7.1% and 7.9%, up from April’s 7.2% reading. The central bank attributes the uptick to accelerating food‑price pressures and a weakening peso that is raising import...
Hegseth Speaks at Shangri-La Dialogue (Full)
At the Shangri‑La Dialogue, senior U.S. defense official Hegseth outlined a new Pacific strategy under President Trump, emphasizing realistic, partnership‑based security rather than dependency. The 2026 National Defense Strategy calls for a $1.5 trillion defense budget and a push for allies...
SpaceX Wins $4 Billion Contract for US Golden Dome Satellites
SpaceX has been awarded a contract exceeding $4 billion to build a constellation of satellites for the U.S. Golden Dome defensive shield, which will track foreign aircraft and cruise missiles from space. The program, launched under President Donald Trump, aims to...
Credit Agricole Taps Japan Samurai Market at Wider Spread
Credit Agricole SA announced a ¥106.5 billion (≈$670 million) samurai bond issuance, pricing seven tranches on Friday. The five‑year notes were set at a 58‑basis‑point spread over the TONA mid‑swap rate and carry a 2.454 % coupon. The spread is wider than comparable...
Japan Can Act on Currency If There’s Volatility, Katayama Says
Japanese Finance Minister Satsuki Katayama reiterated that the government can step into the foreign‑exchange market if the yen shows heightened volatility or signs of speculative attacks. Her comments come as data expected later this week may confirm that authorities intervened...
US Bonds’ Return to Pre-War Calm Fuels Bets It’ll Be Short-Lived
The US Treasury market has settled back to pre‑war calm after a period of turbulence sparked by the Iran conflict. Expectations for bond‑market swings have fallen to near their lowest level of the year, retreating from a March peak that...
Dimon Says JPMorgan Could Spend $20 Billion on Deals
JPMorgan CEO Jamie Dimon told Bloomberg’s Deals show that the bank could deploy $10‑20 billion on acquisitions over the next few years. He emphasized that the firm is sitting on ample cash but remains cautious because its stock trades at a...
Investors Say It’s Time for Pemex to Tap Global Debt Markets
Investors are urging Mexico’s state‑run oil giant, Pemex, to return to the international bond market after a three‑year hiatus. Analysts cite improving credit metrics, a narrowing fiscal deficit, and the need for fresh capital to fund refinery upgrades and new...
Stocks Rally Pauses as Investors Take Profits, Parse Iran Talks
U.S. equities stalled Wednesday as investors booked gains in technology stocks while keeping a cautiously optimistic view on a possible end to the Middle East conflict. The S&P 500 finished essentially unchanged, the Nasdaq 100 slipped 0.1%, and the Dow Jones Industrial...