Oil prices decline as supply concerns ease and diplomacy picks up, while Saudi Arabia works to restore its key East-West oil pipeline and sells more crude through the Strait of Hormuz. The US and Gulf nations are set to meet on the sidelines of the UN General Assembly next week, while the US says Iranian officials may travel to New York.
The Bank of Japan raises its policy rate by 25 basis points as expected, marking its fastest pace of rate increases since 1990 and signaling that further hikes remain possible. Asian stocks and bonds gain as oil extends its decline, Treasury yields retreat and confidence in Kevin Warsh grows. The yuan reaches a four-year high. The Bank of England holds rates but warns policy may need to tighten if the war persists, with Governor Andrew Bailey saying rates may have to rise if volatility continues. Markets also assess a potential delay to US tariffs.
At a Royal AI summit, King Charles calls for urgent AI safety guardrails, while Nvidia CEO Jensen Huang says AI safety is paramount and supports stronger testing. Huawei accelerates the launch of a new AI chip as the global race for advanced AI technology intensifies.
Turkey takes steps to stem a market rout, including arrests and restrictions as authorities investigate outflows from Turkish asset managers. The US is set to sell Saudi Arabia F-35 fighter jets in a $24.3 billion deal, while Israel and Morocco agree to deepen ties.
Across Africa, Ethiopiaās securities exchange approves 11 new listings, beginning with a company in the financial services sector. Airtel Money is said to be considering a smaller IPO, Zimbabwe advances an IMF staff-level agreement, and Botswana says De Beersā investment remains sound.
In the aviation and technology sectors, Spirit Airlinesā data assets draw interest, while Google is reported to be considering a deal involving Spiritās data. Guests includes Parisha Saimbi, BNP Paribas FXLM Strategist, EM Asia and Hou Wey Fook, DBS CIO.
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
00:09:37 – Parisha Saimbi, BNP Paribas FXLM Strategist, EM Asia
00:15:37 – Oil Drops as Supply Concerns Ease, Diplomacy Picks Up
00:19:27 – Royal AI Summit
00:27:27 – Hou Wey Fook, DBS CIO
00:33:27 – Turkish Authorities Step In to Contain Asset Managers Chaos
00:38:57 – Ethiopia Bourse Approves 11 New Listings
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