Brazil Eyes New Credit Push
Brazil's Treasury Secretary Rogério Ceron announced a study of new credit measures targeting consumers not covered by the Desenrola debt renegotiation program. The plan would let borrowers with up‑to‑BRL 1,000 overdue balances settle for as little as BRL 150 in three installments, while using unclaimed Receivables System funds to reinforce loan guarantees. The government also proposes sector‑specific credit lines, including for ride‑hailing drivers, aiming to curb defaults and lower banking spreads.
Israel Courts Panama at Moment of Deep Isolation and Maritime Crisis
Israeli President Isaac Herzog made a historic state visit to Panama on May 6, framing it as a diplomatic outreach while quietly pursuing five strategic objectives. The trip coincided with a global maritime crisis that has elevated the Panama Canal to the...
North Macedonia’s Antimony Project Rekindles Mining Debate
The United States, via the International Development Finance Corporation, has pledged roughly $5.5 million to back antimony and other critical‑minerals exploration by Pela Global in North Macedonia’s Luke concession near Kriva Palanka. The site, originally granted in 2016 for lead, zinc, gold,...
Beijing Becomes the Chessboard as Iran Pre-Empts Trump-Xi Summit
Iran’s foreign minister Abbas Araghchi arrived in Beijing two weeks before the scheduled Trump‑Xi summit, aiming to shape the diplomatic terrain ahead of the US‑China talks. Tehran warned that any US‑China agreement that sidelines Iranian interests—especially regarding Iranian oil flowing...
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Iran Moves to Expand Yuan-Based Trade with China
Iran is accelerating the use of China’s yuan to settle imports, following a recent diplomatic visit by its foreign minister. The yuan now accounts for over 7% of global trade and could climb to 15% by 2030, driven by Beijing’s...
Brazil’s Itaú Sees Steady Credit Trends
Itaú Unibanco said its loan‑delinquency ratios are holding steady, with 90‑day overdue loans at 1.9% in Q1, unchanged from the prior quarter and a year earlier. The 15‑to‑90‑day overdue rate edged up to 1.7%, a modest rise from 1.6% in...
Western Midstream to Bulk up in Permian’s Delaware Sub-Basin with Brazos Acquisition
Western Midstream announced it will acquire the Brazos assets located in the Delaware sub‑basin of the Permian Basin. The purchase expands the company’s midstream footprint, adding significant pipeline mileage and processing capacity in a region that is seeing record‑level oil...
COMMENT: Iran War’s Geopolitical Risks Alone Is Not Enough to Cause a Global Recession
Oxford Economics’ Ben May argues that the recent surge in the Geopolitical Risk index, driven by the Iran‑Israel conflict and the Gulf war, is unlikely to become the main catalyst for a global recession. While the war has tightened energy...
Low-Carbon Sources Met All of 2025’s Electricity Demand Growth - OWID
In 2025 global electricity generation rose by roughly 850 TWh, and low‑carbon sources—primarily solar and wind—accounted for almost all of that increase. While natural‑gas output edged higher, the gains were more than offset by declines in coal and oil generation, marking...
Russian Services and Manufacturing PMI Both Contract as Economy Struggles Under Weight of War
Russia’s service sector contracted for a second month in April, with the S&P Global Services PMI edging to 49.7, still below the 50‑point expansion threshold. Manufacturing activity deepened its slump, posting a 48.1 PMI – the eleventh consecutive month of...
Three US Potential Buyers Emerge for Shell’s LNG Canada Stake
Shell is weighing a partial sale of its 40% stake in LNG Canada, with U.S. firms KKR, Apollo Global Management and Blackstone eyeing up to 30% of the holding. The transaction could generate $10‑$15 bn, valuing the full stake between $25 bn...
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...
World’s Largest Sand Battery Survives Its Worst Winter, Ready for Roll Out
Polar Night Energy’s 1 MW/100 MWh sand battery in Pornainen, Finland, survived the harsh 2025‑26 winter, keeping district heating affordable despite electricity prices swinging from $3.30 to $410 per MWh. The system eliminated oil from the town’s heating network and cut CO₂‑equivalent...
Ukraine Steps up Attacks on Russian Oil Infrastructure to Record Monthly High in April
Ukraine intensified its long‑range missile campaign in April, carrying out a record 21 strikes on Russian refineries, sea terminals and pipelines. The attacks forced daily refinery throughput down to 4.69 million barrels, the lowest level since December 2009. Analysts estimate the assaults...
Trump Sons Hold Stake in Kazakh Tungsten Venture Backed by $1.6bn in US Government Funds
Donald Trump Jr. and Eric Trump invested in Skyline Builders, which merged with Cove Kaz Capital to form Kaz Resources Inc., a venture developing Kazakhstan's massive undeveloped tungsten deposits. The project secured up to $1.6 bn in U.S. government financing from...
Central Asia Green Finance Grows, Led by Kazakhstani Private Sector
Kazakhstan has become the clear leader of Central Asia’s green‑finance market, with roughly $2.9 bn of the region’s $3.5 bn sustainable‑bond pool. The AIFC Green Finance Centre (GFC) acts as the only dual‑accredited verifier, built the regional taxonomy and helped launch the...
America's Tech War on China Fuelled the Very Rise It Sought to Stop
U.S. sanctions aimed at curbing Russia’s war capability have inadvertently accelerated China’s tech export boom. Chinese components now dominate Russian drones, with 60‑65% of battlefield units built from Chinese parts, and China’s patent filings outpace the United States for the...
Azerbaijan Summons EU Ambassador over European Parliament Resolution
Azerbaijan’s foreign ministry summoned the EU ambassador on May 1 to protest a European Parliament resolution that criticised Baku’s post‑war policies in Nagorno‑Karabakh. The note of protest called the resolution biased, baseless and an interference in Azerbaijan’s internal affairs. The dispute...
Iran-Linked Shock’s Impact on Emerging Europe Seen Milder than 2022 Crisis, Says Wiiw Economist
Emerging Europe is feeling a new geopolitical shock tied to Iran, but Vienna Institute for International Economic Studies (wiiw) says the impact will be far less severe than the 2022 crisis sparked by Russia’s invasion of Ukraine. Oil prices have...
Renewables Met 100% of Global Electricity Demand Growth in 2025 that Will Speed America's Decline
For the first time, renewables supplied all new global electricity demand in 2025, with solar accounting for three‑quarters of that growth. China drove the surge, adding 336 TWh of solar power—over half of the world’s increase—while the United States contributed 85 TWh,...
UAE Strikes Back at Turkey in Fight to Become Global Investor Haven
The United Arab Emirates is countering Turkey’s bid to become the region’s premier offshore investment hub by loosening Dubai’s property‑linked residency rules and rolling out a new R&D tax‑credit programme. The visa reform eliminates the AED 750,000 ($202,500) minimum for sole...
UN Security Council Extends South Sudan Peacekeeping Mission
The UN Security Council voted to extend the United Nations Mission in South Sudan (UNMISS) for one year, now running until April 30 2027. The resolution also slashes the troop ceiling from 17,000 to 12,500, while keeping police numbers around 2,100. The...
Nato Weighs Scrapping Annual Summits to Avoid Trump Confrontation
NATO is debating whether to abandon its recent practice of holding annual summits, with sources saying the 2028 meeting could be cancelled and a biennial schedule considered. The move reflects growing anxiety that the United States, under President Trump, may...
Bosnia, Croatia Sign Gas Pipeline Deal Despite Civil Society Backlash
Bosnia and Herzegovina and Croatia signed the Southern Interconnection gas‑pipeline agreement on April 28, linking Bosnia’s network to Croatia’s Krk LNG terminal and aiming to diversify away from Russian supplies. The deal, backed by U.S. officials, will be financed separately by...
Magyar Promises Austerity to Get Into Eurozone by 2030
Hungary’s new Tisza party, led by Peter Magyar, has pledged euro‑zone membership by 2030, launching the accession process within weeks. Finance‑minister nominee András Kármán says the government will meet Maastricht criteria, despite current deficits of 4.7% of GDP and public...
Transatlantic Consortium Unveils €50bn AI Data Centre Project in Croatia
A transatlantic consortium led by Pantheon Atlas announced Pantheon AI, a €50 billion ($55 billion) AI‑focused data‑centre and innovation campus in Topusko, Croatia. The gigawatt‑scale facility will deliver 1 GW of capacity, with 800 MW of usable IT load, and will be powered by a...
INTERVIEW: Kazakhstan Bets on Reliability, Digitisation to Capture Shifting Global Supply Chains
Kazakhstan is leveraging reliability and digitalisation to turn its land‑locked position into a logistics hub, centring on the Middle Corridor that links Asia and Europe. Recent infrastructure upgrades—including a second Dostyk‑Moyntau railway line that quintupled capacity and expanded Caspian ports—have...
Middle East War Shakes Tourism in the Western Balkans
The war in the Middle East is rippling into the Western Balkans, where disrupted Gulf air routes, soaring fuel prices and traveler anxiety are prompting cancellations and lower demand. Tour operators such as Balkan Prime Tours report a 20% drop...
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Fitch Turns Negative on Taiwan’s CPC
Fitch Ratings downgraded the outlook on Taiwan’s CPC Corporation’s foreign‑currency issuer rating to negative, while keeping its AA rating unchanged. The move reflects concerns that CPC’s interest‑coverage ratio will slip below the 4.0× threshold amid soaring oil prices and limited...
Radev’s Victory in Bulgaria Offers No Relief for North Macedonia’s EU Progress
Rumen Radev’s re‑election in Bulgaria signals a tougher stance toward North Macedonia’s EU accession, reinforcing the bilateral conditions that have stalled talks since 2020. The core dispute – a constitutional amendment to recognise Bulgarians as a minority – remains unresolved,...
Egypt's Hassan Allam, Saudi Arabia's AlBawani Win $490mn Diriyah Museum Contract
A joint venture between Egypt’s Hassan Allam Holding and Saudi Arabia’s AlBawani Holding has won a SAR 1.84 bn ($490 mn) contract to build the Saudi Arabia Museum of Contemporary Art (SAMoCA) in Diriyah. The museum, covering 45,252 sq m of floor space and 77,428 sq m...
Nato Scrambles RAF Jets over Russia Drone Swarm — Then Walks Back the Engagement
NATO’s Enhanced Air Policing mission scrambled two RAF Eurofighter Typhoons from Romania on April 25 after reports of a Russian drone swarm near the border. Initial reports suggested the jets shot down drones over Ukrainian airspace, but the UK Ministry of...
India’s Nuclear Triad Operational, Still Lags Far Behind China
India quietly commissioned the INS Aridhaman on April 3, completing a three‑submarine fleet needed for a continuous at‑sea nuclear deterrent. The new SSBN joins INS Arihant and INS Arighaat, enabling India’s declared second‑strike capability under its no‑first‑use doctrine. However, the submarines currently carry the...
MOSCOW BLOG: EU Unblocks Ukrainian Loan, Twentieth Sanctions Package, as Kyiv Builds a Robot Army
The European Union approved a €90 bn ($97 bn) loan for Ukraine, allocating roughly €45 bn ($48.6 bn) to defence this year and covering the first three quarters of 2025. At the same time the EU adopted its twentieth sanctions package against Russia, though...
Qatar Airways Resumes Daily Services to UAE and Syria as Summer Programme Expands
Qatar Airways has resumed daily flights to the United Arab Emirates and Syria, adding to its expanded summer programme that will cover more than 150 destinations from June 16 through September 15. The carrier cautioned that schedules remain subject to...
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Iran to Rebuild Mobarakeh Steel in Isfahan Following Israeli Strikes
Iran's Ministry of Industry announced that the Mobarakeh Steel complex in Isfahan will be rebuilt on its original site after roughly 30% of the plant was destroyed in Israeli‑US air strikes that began on Feb. 28. Planning for design, financing and...
Iran Says First Hormuz Toll Revenue Deposited at Central Bank
Iran announced that the first revenue from its newly imposed Strait of Hormuz tolls has been deposited into the Central Bank of Iran. The tolls charge up to $2 million per tanker and roughly $1 per barrel of oil, with two...
BSP Tightens Policy in the Philippines as Inflation Surge Overrides Growth Concerns
The Bangko Sentral ng Pilipinas raised its policy rate by 25 basis points to 4.5% on April 23, responding to a sharp jump in inflation. Headline inflation accelerated to 4.1% year‑over‑year in March, pushing core inflation to 3.2% and breaching the...
US Rejects Media Reports Claiming that Hormuz Blockade Was Breached
U.S. Central Command refuted media reports that Iranian‑linked tankers breached the U.S. naval blockade of the Strait of Hormuz. CENTCOM clarified that no vessels have entered or left Iranian ports since the blockade began, and only 31 ships were ordered...
India-South Korea Summit Puts Shipbuilding, Tech at the Forefront
South Korean President Lee Jae‑myung arrived in New Delhi for a three‑day summit, bringing a large industry delegation focused on shipbuilding, semiconductors, AI and defence. Bilateral merchandise trade hit $25.1 bn in 2024 and both governments aim to double it to...
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Iran MP Plans for Strategic Management of Strait of Hormuz Using the Rial
Iran's parliamentary infrastructure commission chair announced a proposal to control transit through the Strait of Hormuz by banning Israeli‑linked and "hostile" vessels and requiring all permitted ships to pay guidance and security fees in Iranian rials. The plan also allows...
Russia’s Inflation Fight Faces Push-Me-Pull-You Pressures
Russia’s inflation remained at 5.9% year‑over‑year in March, signalling that the early‑year demand dip was likely temporary. The Central Bank of Russia warns that real wages are rising faster than labour productivity, a dynamic that could keep price pressures sticky....
Western Japan Lenders Strike Capital, Business Alliance
Japan’s Shiga Bank and Senshu Ikeda Holdings have announced a capital and business alliance, each taking a 0.5‑1% stake in the other. The partnership stops short of full integration, preserving operational independence while targeting synergies in business succession support and...
India to Benefit From US Extension of Russian Oil Waiver
The United States has extended a limited waiver for Russian oil transactions until May 16, 2026, covering cargoes already in transit or contracted before the cut‑off date. The extension, granted despite political opposition, does not signal a broader easing of sanctions...
Could It Be Goodbye Dubai, Hello Istanbul?
Turkey is courting Gulf and Asian investors with a new incentive package for its Istanbul Financial Center, positioning the city as a potential alternative to Dubai amid regional instability. The government, led by Finance Minister Mehmet Simsek, promises tax breaks...
Iraq Moves to Restart Oil Exports as It Seeks Stability and Revenue
Iraq announced it will restart oil exports from all fields within days, aiming to boost state revenue and stabilize domestic fuel supplies. The Ministry of Oil is also opening a new black‑oil outlet through Syria’s Baniyas port to diversify export...
Iran Hardliners Attack Araghchi's Hormuz Tweet as 'Incomplete and Misleading'
Hardline Iranian voices slammed Foreign Minister Abbas Araghchi’s April 17 tweet announcing the full reopening of the Strait of Hormuz during the Lebanon cease‑fire as incomplete and misleading. The brief message omitted key conditions, including IRGC supervision of ship movements and...
Ankara Proposes Grand Rewiring of Middle East Energy Export Map Amid Hormuz Blockade
Turkey’s energy minister unveiled a suite of five overland pipeline projects—spanning Qatar, the Caspian, Syria, Iraq and a Saudi‑Turkey electricity link—to create alternatives to the Strait of Hormuz, which has been effectively shut after Iran’s retaliation to the US‑Israeli conflict....
Kuwait Citizenship Purge Tops 50,000 as New Decree Tightens Revocation Rules
Kuwait has revoked citizenship for more than 50,000 people since September 2024, following Decree‑Law No. 52 that tightens revocation rules and removes judicial oversight. The amendment expands state authority, introduces DNA and biometric checks, and imposes up to seven years in prison...
INTERVIEW: The Steppe Challenger
Freedom Holding Corp, led by founder Timur Turlov, is leveraging its Nasdaq‑listed brokerage and a rapidly expanding super‑app to push beyond Kazakhstan into Europe and the United States. The app now serves 5.2 million users—about a quarter of Kazakhstan’s population—and has...