Indonesia's envoy Purbaya visited Beijing to boost investor confidence ahead of a panda bond sale. Chinese companies expressed concerns over stringent regulations, over-enforcement, and corruption, while also worrying about Indonesia's fiscal situation. Purbaya assured them of sound economic fundamentals.
Uzbekistan's President Shavkat Mirziyoyev announced plans for a new international financial centre operating under English common law principles, offering extensive tax incentives for 50 years. The initiative aims to attract foreign investment by creating a familiar regulatory environment. The country has attracted over $150bn in foreign investment recently, with its economy growing by 7.7% last year.
Uzbekistan announced plans for a new international financial centre and six investment priorities at the Tashkent International Investment Forum. The centre will operate under English common law with significant tax incentives for 50 years. The country has attracted over $150 billion in foreign investment recently.
Visa and Mastercard will be suspended in Cuba from June 6 due to US sanctions targeting GAESA, a military conglomerate. This has led global firms like CMA CGM, Hapag-Lloyd, Sherritt, and hotel chains to halt operations, with further exits expected.
Global businesses face at least $25 billion in losses due to the US-Israeli war with Iran, driven by rising oil prices, disrupted trade routes, and higher operating costs. Airlines are most affected, but the impact is spreading across sectors.
Global companies have incurred at least $25 billion in additional expenses due to the conflict around Iran, with air carriers facing the largest share of costs. Rising energy prices, supply chain disruptions, and the Strait of Hormuz blockade are cited as key factors. The full impact on corporate profits is expected in the second half of 2026.
Global companies have incurred at least $25 billion in losses due to the U.S.-Iran war, with rising oil prices and disrupted supply chains impacting industries worldwide. Airlines and automakers are among those warning of reduced profits.
Singapore Prime Minister Lawrence Wong has sought to reassure workers amid concerns about the AI revolution, vowing that the city state will carve out fresh opportunities even as the new technology renders some jobs obsolete. In the annual May Day rally on Friday, Wong acknowledged the anxieties but urged workers and firms to build artificial intelligence capabilities and harness its benefits. Demand would rise for AI-savvy workers, and new doors would open as global companies expanded their...
