Category: Semafor

The News The Indian government’s chief economic adviser expressed confidence Friday that the world’s sixth-largest economy can weather the energy-price shock caused by the Iran war if the ceasefire holds. “We feel that if the current ceasefire holds and also gets extended indefinitely, by the end of the calendar third ...

The IMF and the World Bank said they would resume relations with Venezuela for the first time in six years, a major breakthrough for the Latin American country as it looks to rebuild its economy. The resumption of relations comes just months after Washington ousted Venezuela’s former president and replaced ...

Falling cocoa prices have, paradoxically, led to falling profits for the world’s largest chocolate maker. Cocoa prices surged in 2023 and 2024, but have since fallen steeply. Swiss firm Barry Callebaut, which supplies chocolate to food giants such as Nestlé and Unilever, bought cocoa at the higher rates, but — ...

The News South Africa’s central bank governor broke sharply with the global “wait-and-see” mood about the impact of the Iran war, saying the bank cannot be “complacent” and will not wait for early price shocks to filter through Africa’s biggest economy. Letsetja Kganyago’s comments at Semafor World Economy in Washington, ...

A review of anti-amyloid drugs, once hailed as a breakthrough in Alzheimer’s treatment, suggested they had no clinically meaningful effect. Plaques of malformed amyloid proteins form in Alzheimer’s patients’ brains, and new drugs such as aducanumab and lecanemab have targeted those proteins on the assumption that they cause the disease. ...

Kenya requested emergency funds from the World Bank as it sought to cushion the impact of the Iran war, which is already squeezing African economies. The continent — which is still heavily reliant on oil and gas — imports the majority of its fuels, and soaring costs have already hammered ...

The News Africa’s richest man Aliko Dangote said on Thursday that rising oil prices driven by the Strait of Hormuz blockade are threatening to devastate African airlines and farmers. “The majority of African airlines won’t be able to survive” the current surge in fuel prices, Dangote warned, noting that Nigerian ...

Europe has “maybe six weeks” of jet fuel left, the head of the International Energy Agency said, warning of possible mass flight cancellations as the Iran war hits global energy supplies. The continent is by far the biggest buyer of jet fuel that is shipped through the Strait of Hormuz, ...

The EU is planning a “radical shake-up” of corporate merger guidelines, as it seeks to build global champions capable of competing with US and Chinese firms, the Financial Times reported. The new draft guidelines — which would relax rules by asking regulators to weigh “innovation” in addition to consumer welfare ...

The Iran war is raising debt costs for African countries, sparking warnings that some economies could default as interest rates soar. Several nations on the continent are only just recovering from a post-pandemic shock that sent debt burdens soaring, and inflationary pressures set off by the war in the Middle ...