Emerging Markets Newsletter

Semester 1 Week 6

Hey Legend!

Happy Monday and welcome to Week 6! 🥳

We are almost half-way through the semester, time sure flies when you’re having fun (cramming lectures) 💸

Trump’s tariffs have shredded markets this week 💔 and are shifting the global balance of power as we speak, if you’re in the market; we send our most sincere condolences to your portfolio ⚰️🫡

Come grab a caffeinated brew on us ☕ this Thursday at Mid Square Coffee to lock in for mid-sems ⚡ and maximise your LinkedIn connections 📈

Updates

Coffee Catchup ☕

Take a breather from the books 📚, come have a chat 👋and recharge with a caffeinated brew on us ☺️

• 📍Mid Square Coffee, 119 Pelham St Carlton VIC 3053

• 📅 Thursday 10th April, 12.00 PM to 3.00 PM

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The Numbers

"We're gonna win so much, you may even get tired of winning. And you'll say, 'Please, please. It's too much winning. We can't take it anymore. Mr. President, it's too much.'“

—Donald Trump

The Roundup

India deepens global ties and stirs debate at home, China strikes back on tariffs, and Africa advances steadily amid challenges.

India

India strengthens regional ties with a landmark energy pact in Sri Lanka alongside the UAE, while tensions rise at home over proposed changes to Waqf land management. Meanwhile, markets react to the RBI's rupee stance and a major bond sale by NaBFID signals infrastructure growth.

• India and the UAE agreed to develop an energy hub in Sri Lanka 🏭 . The three nations signed the pact for the hub during Indian Prime Minister Narendra Modi's visit to Sri Lanka ✍️ . Saturday's agreement boosts New Delhi's competition with China, whose state energy firm Sinopec has signed a deal to build a $3.2-billion oil refinery in Sri Lanka's southern port city of Hambantota 💰 ⚔️ .

• The Reserve Bank of India's inaction to the rupee's ongoing rally, which lifted it above 85, surprised market participants and sent traders scrambling 😮 😳 . Traders have pointed out that while the RBI would routinely intervene to buy dollars during periods of rupee strength last year, the central bank appears to have held off this time 😎 🪙 .

• India's National Bank for Financing Infrastructure and Development (NaBFID) plans to raise 80 billion rupees ($938.2 million) through a bond sale on Monday 💵📈  . The infrastructure lender aims to raise at least 10 billion rupees through the sale of five-year bonds, which has a greenshoe option to retain an additional 20 billion rupees 🌳 💰 .

• The Indian government presented a bill in parliament that plans sweeping changes in the management of vast tracts of land set aside solely for Muslim use 🕌 🧾 . The land and properties fall under the "waqf" category and the Waqf (Amendment) Bill proposes inclusion of non-Muslim members in the central Waqf Council 🏠 . The legislation comes amid tensions between the Muslim community and Modi government 🔥 .

China

This week, we explore Chinese military drills off the coast of Taiwan, humanitarian aid to Myanmar following the devastating earthquake, waning confidence in China's long-term sovereign debt and the point of no return in China-American relations.

• China imposed 34% tariffs on all US goods following Trump’s “liberation day” blitz, labelling American tariffs “as a typical unilateral bullying practice”😡. Beijing retaliated further by sanctioning or placing export controls ⛓️ on 27 US firms and targeting American consumer electronics 📱, manufacturing 🏭 and defence🛡️ with export controls on key earth minerals ⛏️.

• Global ratings agency Fitch downgraded China’s sovereign debt rating from “A+” to “A”, citing weakening public finances📉 and increased public debt as causes for concern😟. China’s Finance Ministry accused the rating cut of being biased, as the downgrade threatens to jeopardise 😮🚧 Beijing's plans to stimulate the economy through increased fiscal spending 💸.

• China conducted naval drills in the straight of Taiwan as a show of force 👊 against what it sees as a rogue province. Named ‘Strait Thunder-2025A’, the military exercise involving over 76 aircraft 🛩️ and 20 warships ⚓️ has drawn global concern 😧, particularly from Japan, the UK, the EU and the US.

• China extends a helping hand to Myanmar! Following the deadly 7.7 magnitude earthquake 🫨⚰️, China pledged ✍️ it would send $14m in humanitarian aid ⛑️ to its Southeast Asian ally. However, failures to reach a ceasefire in Myanmar’s ongoing civil war have delayed efforts to deliver vital supplies, with reports that warning shots 💥🔫 have been fired at Chinese Red Cross convoys 🚑.

Africa

Africa had a busy week with money moves, economic updates and political tensions. From bank expansions to bond shake-ups, the continent is growing - but not without its challenges.

• Nigeria’s Access Bank just bought Zambia’s Cavmont Bank for $250 million 💰. This is a huge step as Access Bank grows its presence across Southern Africa. More people will soon have access to banking services, loans, and financial tools 🏦✨. It's all part of their plan to become a truly pan-African bank!

• Ghana is dealing with debt by restructuring $3 billion worth of local bonds. The government is also planning to cut back on spending and reform taxes 📉. 💬 The African Continental Free Trade Area (AfCFTA) is still helping countries trade better and build resilience together 🤝.

• Morocco’s OCP Group is planning new investments in sustainable farming across West Africa 🌱💵. 💡 Fintech is booming in French-speaking West Africa — new digital payment tools are popping up everywhere 📲.

• 🪖 Fighting in Sudan got worse this week. The Sudanese army (SAF) launched a big offensive to take back areas from the Rapid Support Forces (RSF) in Khartoum. That means more danger for civilians and harder access for humanitarian aid 🚨🕊️.

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 💚