Yinka’s view Sub-Saharan Africa entered 2026 with its fastest economic growth in a decade but that momentum has been upended by the disruption in fuel supply caused by the US and Israeli war with Iran. Last week the International Monetary Fund trimmed its 2026 outlook for Africa to 4.3%, 30 ...
Category: Semafor
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Why The Washington Post lost in VirginiaWhy The Washington Post lost in Virginia
David’s view There were many losers in Virginia’s vote to approve a gerrymandered, Democratic map. President Donald Trump kept his super PAC wallet closed, quietly angering Republicans. Four members of House Speaker Mike Johnson’s GOP majority now face near-certain defeat in November. And Virginia Republicans, who wanted to prove that ...
European carmakers lose premium brand status in ChinaEuropean carmakers lose premium brand status in China
European carmakers are losing their premium brand status in China, as younger consumers opt for cars from domestic brands, further eroding Western firms’ prospects in a cutthroat global market. Chinese carmakers are increasingly dominant around the world, but European automakers had long controlled the premium sector of the world’s biggest ...
Safety fears could slow China’s robotaxi rolloutSafety fears could slow China’s robotaxi rollout
China’s robotaxi fleet may almost triple this year compared to 2025, though customer resistance could hinder its rollout, analysts said. Goldman Sachs predicted that China will have almost 15,000 robotaxis by the end of the year, putting the country ahead of the US in the race “to automate roads and ...
Why Saudi is weathering the war shock better than mostWhy Saudi is weathering the war shock better than most
Alaa’s view Riyadh doesn’t feel like a city bracing for crisis. Stuck in rush-hour traffic this week, it was easy to forget that the Gulf is in the middle of a conflict that has upended the world economy and the region’s own prospects. Malls are relatively busy. At one restaurant, ...
Gulf trade will be permanently reshapedGulf trade will be permanently reshaped
Matthew’s view If I had one takeaway for the Middle East from last week’s meetings at Semafor World Economy, it is that it is impossible to overstate how much Gulf trade will be reshaped by the crisis in the Strait of Hormuz. The narrow waterway has served as the region’s ...
Impact of rising fuel costs expands in real economyImpact of rising fuel costs expands in real economy
The downstream impacts of the blockade of the Strait of Hormuz expanded across the global economy. European jet fuel prices have roughly doubled, and airfares are up 24% year-on-year; Lufthansa canceled 20,000 short-haul flights, other European carriers have announced similar measures, and Air France-KLM introduced a €100 surcharge on long-haul ...
Republicans release budget, hope to end shutdownRepublicans release budget, hope to end shutdown
Senate Republicans released their budget and began voting on it Tuesday afternoon. They will use it to set up an immigration enforcement budget reconciliation bill of roughly $75 billion. Senators hope that movement will prompt the House to pass the Senate bill funding the rest of the Department of Homeland ...
Trump’s Fed pick vows central bank independenceTrump’s Fed pick vows central bank independence
US President Donald Trump’s nominee for the Federal Reserve chair insisted to lawmakers Tuesday that he would uphold the central bank’s independence. During his congressional confirmation hearing, Kevin Warsh responded “absolutely not” when asked if he would be the president’s “sock puppet,” adding that Trump had not asked him to ...
China tightens supply chain rulesChina tightens supply chain rules
Beijing enacted new rules that threaten stiff punishments for foreign and domestic companies that shift supply chains out of China, with penalties including “exit bans” on staff and asset seizures. The move reflects anxiety among policymakers as growing numbers of manufacturers shift production to places like India and Vietnam amid ...