Global markets focus on the Strait of Hormuz as doubts grow over a deal to reopen the vital shipping route. President Trump says the US "totally controls" Hormuz, while Iran says the Strait will remain closed until its conditions are met. The US also says it fired on a vessel accused of violating the blockade, while Pakistan’s interior minister travels to Iran for talks. Oil prices extend gains as traders assess the risk of prolonged disruption, while investors await US core CPI data for signs of how the Iran war is affecting inflation and Federal Reserve policy. The yen moves toward ¥160 per US dollar as intervention concerns return, while Asian stocks gain on stronger technology shares. In technology, CoreWeave shares surge as its AI backlog reaches $104 billion, with another $25 billion in new deals. Nvidia’s credit risk eases after its CEO clarifies the company’s $500 billion AI infrastructure plan, while Super Micro shares jump after its outlook tops the highest forecast on strong AI server demand. South Korea’s sovereign wealth fund is also preparing to expand its role in the global AI race.
Elsewhere, a Libyan oil refinery is hit in the fifth attack on the Zawiya facility, Syria sentences former President Bashar al-Assad to death, and Russia seeks a deal to secure its Syrian bases as a hub for operations in Africa. Presight AI reports a 30% jump in second-quarter profit and secures AED 2.5 billion in domestic deals. We also cover Zambia’s presidential election, Nigeria’s new tax incentives aimed at attracting $50 billion in deep-water oil investment, Kenya holding interest rates, and MTN taking a write-down linked to its Iran exposure. Guests includes Aarthi Chandrasekaran, Shuaa Capital Public Markets Head, Thomas Pramotedham, Presight CEO and Min Kyung-Seol, South Korean Deputy Minister for Innovation and Growth.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:04:12 – Oil extends gain on doubts over Hormuz deal
00:09:12 – Aarthi Chandrasekaran, Shuaa Capital Public Markets Head
00:14:46 – Surging AI Demand
00:18:36 – Fifth Attack on Libyan Oil Refinery
00:27:31 – Thomas Pramotedham, Presight CEO
00:33:31 – Min Kyung-Seol, South Korean Deputy Minister for Innovation and Growth
00:37:31 – Zambians Vote Thursday in Tight Election
00:42:17 – US Core CPI Expected to Fall to Lowest Since March 2021
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