Emerging Markets Newsletter

Semester 2 Week 6

Hey Legend!

Happy Monday and welcome to Week 6! 🥳

Unfortunately, half-way through the semester, mid-sems and assignments have a way of joining forces 🙈 and making your brain feel like it’s running 37 tabs at once 🪤.

One paragraph written ✅, one lecture skimmed 📚, one coffee down ☕, that’s progress. Think compound interest, minus the debt 💸.

Find a study buddy 👯, swap notes 📝, or just rant about word counts. We’re all in the trenches, EMN included, and we’ll crawl out smarter 💪.

President’s Selection

A Message from Prepped Talent

Gain industry expertise and practical skills in Mergers & Acquisitions with Prepped Talent. Stand out in the competitive application process for Investment Banking, Private Equity and Corporate Development with our end-to-end course on M&A— from investment strategy right through to the signing of the share purchase agreement.

From there, we provide exclusive networking opportunities, practical workshops with industry professionals, direct employer introductions, and 1:1 internship and job search coaching—supporting you until you land the role you want.

See how Prepped Talent can help you start a coveted career in High Finance through our comprehensive Break into Mergers & Acquisitions Program.

EMN members receive a 20% discount using code: EMN20

The Numbers

Markets ended mixed last week, with gold surging while equities were flat and emerging markets slipped. Bitcoin tumbled sharply, though it remains positive year-to-date, while crude oil edged higher despite staying down overall in 2025.

The Roundup

India is balancing rapid growth with trade pressures, as Reliance pushes new ventures and the nation pursues global sporting ambitions. China faces property woes but sees surging market activity, stronger ties with Cuba, and a high-profile military parade. Africa advances with clean energy, fintech, and diplomacy, though financing and security challenges persist.

India

India is making waves on multiple fronts. From strong economic growth and landmark corporate ventures to strategic trade moves and global sporting ambitions. Here’s a concise update on the key developments shaping the nation’s future.

• India's economy grew by 7.8% year-on-year in the April–June quarter, surpassing expectations and driven by manufacturing, services, and government spending. 📈💼 However, the Indian rupee fell to an all-time low of 88.29 per dollar amid new U.S. tariffs, prompting central bank intervention. 💱🛑 Over 50,000 small Indian exporters are seeking alternative markets due to the U.S. imposing 50% tariffs on Indian goods. 🌍📦

• Reliance Industries announced plans to list Jio Platforms, its telecom and digital arm, in the first half of 2026, aiming to raise approximately ₹52,200 crore in what could be India's largest-ever IPO. Billionaire Mukesh Ambani also unveiled a ₹855 crore ($100 million) AI joint venture with Meta and Google to establish the Jamnagar Cloud centre for Reliance.

• India's $17 billion savings from discounted Russian oil imports are being rapidly undone by the U.S.'s new 50% tariffs on Indian goods, which could slash exports by nearly $37 billion and threaten millions of jobs in labor-intensive sectors like textiles and jewelry. 💸⚠️ Despite U.S. pressure, India remains committed to its energy policy and is open to increasing U.S. energy imports without abandoning Russian oil entirely. 🛢️🤝

• India has officially submitted its bid to host the 2030 Commonwealth Games in Ahmedabad, aiming to enhance its credentials for the 2036 Olympics. 🇮🇳🏟️ The proposal, presented by the Indian Olympic Association (IOA) in London, emphasizes sustainability, inclusivity, and alignment with Commonwealth values. 🌱🤝 The final decision will be made at the Commonwealth Sport General Assembly in Glasgow this November. 🗓️🏙️

China

This week, we take a look at Evergrande Group’s last gasp following delisting in Hong Kong, increased cooperation with Havana and China’s bullish stock market. Meanwhile, Beijing courts global leaders to attend its “Victory Parade” later this month.

• China flexes its muscle as its set to launch it’s annual “Victory Parade” to commemorate Japan’s defeat in WW2 🎖️. Notable attendees 👥✨ to it’s largest annual military parade include the leaders of North Korea, Myanmar, Iran and Russia.

• China’s real estate market hits new lows following Evergrand’s delisting on the Hong Kong Stock Exchange. The decision comes after years of turmoil 📈📉, which saw China’s once largest real estate developer face crippling debts 💴⚠️, with the company unable to provide a “viable debt restructuring plan” following its collapse in January 2024 🐉🏗️🪦.

• Bullish investors make their mark! The CSI 300 Index is set to reach record turnover levels 💸🚀 for August, averaging ¥2.2trn CNY and beating out the previous record by ¥200bn CNY. The boom comes as mainland retail investors 🛍️ re-allocate funds from Hong Kong-based equities to local based equities ➡️🏠📊.

• China and Cuba reach new consensus on intelligence cooperation, with China’s top spy chief 🕵️‍♂️, Chen Yinxin, pledging to “further strengthen cooperation in the field of intelligence and security” 🤝🛡️. The bilateral commitments come amidst growing economic and political pressure 💼⚔️ from Washington on Havana and Beijing.

Africa

East Africa keeps powering forward, especially Kenya and Ethiopia with strong growth and innovation. Across the continent, solar power is surging thanks to cheaper Chinese imports, bringing energy to more homes off-grid and fueling wider renewable adoption, even in conflict zones like Mali and Sudan. But challenges remain, financing gaps for climate adaptation and security threats continue to test resilience.

• Kenya’s economy continues to impress, its growth outlook has been upgraded to 5.6% for 2025 following a credit rating raise to ‘B’ by S&P, signaling improved financial health and investor confidence 📊. China’s solar exports to Africa surged by 60%, delivering a record 15 gigawatts of panels rapid progress toward clean energy, but renewables still only make up 6% of overall power output, far from the 2030 target 🌍⚡.

• Morocco launched blockchain trading on its stock exchange, making markets more transparent and modernized 💻🔗. Kenya continues to expand mobile and digital lending, and across the Sahara, community finance is making strides in climate resilience, though Africa still needs high-impact financing reforms to close big gaps in adaptation funds 💰🌱.

• A two-day AU field mission landed in South Sudan, aiming to cool tensions and prevent conflict flare-ups ahead of key political transitions 🕊️. With more than half of planet’s climate financing needed still unmet, African institutions are stepping up, pushing for fairer finance, regional ratings systems, and blended investment models that drive climate-smart development 🌍💪.

• South Africa, as G20 host, has unveiled a major report on global wealth inequality, led by economist Joseph Stiglitz 🌍⚖️. It aims to highlight disparities and push for finance reforms ahead of the summit 🚗🍫🤝.

See you all next week!

We hope you enjoyed reading our newsletter! There are plenty of facts for you to drop in your next conversation to sound more intelligent. Make sure to share this artistic marvel with a friend!

Good luck for your studies, we know you smart cookies will smash it.

If you have any inquiries please email [email protected]

We look forward to seeing you at our next event!

Best regards,

The EMN Team 💚