Oil prices surged above $100 a barrel ahead of a US shipping blockade on Iranian ports after weekend peace talks between the US and Iran collapsed, threatening to pile pressure on several African currencies that have depreciated as a result of the crisis. South Africa’s rand weakened and was nearly ...
Category: Semafor
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Data centers under fire test Gulf sovereign AI ambitionsData centers under fire test Gulf sovereign AI ambitions
Winston Ma’s view At the Future Investment Initiative summit in Miami in late March, geopolitics and technology investing collided in a single, blunt warning, when US presidential envoy Steve Witkoff said the region faced a “risk premium” from the threat of infrastructure such as data centers being “blown up.” To ...
Rising US wholesale prices likely to hit consumersRising US wholesale prices likely to hit consumers
Economists warned that US wholesale prices could rise rapidly, suggesting further pain for consumers down the line. The projected rise in the producer price index at an annualized 4.6% in March, up from 3.4% in February, would come after March’s consumer price inflation was already the highest rate in two ...
Chinese EV exports jump 124% amid energy crunchChinese EV exports jump 124% amid energy crunch
Chinese EV exports jumped by 124% in the first quarter of the year, and analysts forecast that the war in the Middle East could further boost their fortunes as gasoline prices soar globally. While much of East Asia has been roiled by higher oil prices, China’s rollout of green energy ...
Controlling Hormuz seemed improbable. Turns out, it’s profitableControlling Hormuz seemed improbable. Turns out, it’s profitable
Wael’s view In March 2012, Saudi Oil Minister Ali Al-Naimi gathered a small number of journalists in Doha to deliver what he intended as reassurance. Iran was threatening to close the Strait of Hormuz. “If you believe Hormuz will be closed,” he told the group, myself included, “I will sell ...
Vietnam breaks ground on first high-speed railVietnam breaks ground on first high-speed rail
Workers broke ground on Vietnam’s first high-speed rail line. The route will link the capital to industrial hubs in the east at over 200 mph. Southeast Asia has seen a proliferation of high-speed rail, mostly China-financed, but projects in Indonesia and Laos are expensive and behind schedule. The Vietnamese line ...
Donald Trump says the US will ‘blockade’ HormuzDonald Trump says the US will ‘blockade’ Hormuz
US President Donald Trump said Sunday that Washington would “blockade” the Strait of Hormuz after US and Iranian negotiators failed to reach a deal during marathon talks in Pakistan over the weekend. Trump’s announcement, suggesting the US would police ships that have paid Iran a toll to transit the waterway, ...
Altman links attack to ‘great anxiety’ over AIAltman links attack to ‘great anxiety’ over AI
OpenAI CEO Sam Altman linked an attack on his home to a moment of “great anxiety” around AI. Authorities on Friday arrested a 20-year-old man who allegedly threw a molotov cocktail at Altman’s San Francisco residence and threatened to burn down OpenAI’s headquarters. The suspect had recently written about fears ...
US-Iran impasse to stem relief rallyUS-Iran impasse to stem relief rally
The collapse of talks between the US and Iran is poised to push energy prices back up and weigh on stocks globally. Markets have been rocked by volatility throughout the war, and US President Donald Trump’s plan to blockade the Strait of Hormuz is likely to stem last week’s relief ...
Trump threatens China over IranTrump threatens China over Iran
US President Donald Trump on Sunday threatened China with “staggering” 50% tariffs if it provides military assistance to Iran, raising the specter of further friction between the world’s two largest economies. Beijing has cast itself as a peacemaker and reportedly helped broker the temporary US-Iran ceasefire, but has also been ...