Emerging Markets Newsletter

Semester 1 Week 12

Hey Legend!

Happy Monday and welcome to Week 12! 🥳

Hope you’re doing well soldier 💚 It’s Week 12 and the final edition of our newsletter for the semester 😔

A massive thank you to everyone who’s backed us this semester, whether by showing up to our events 🥳, sharing the word 🤝, or simply tuning in to our weekly updates 📰. Your support means the world 🙏

This Tuesday, we’re wrapping things up with Grounds for Good Cause, our coffee event raising funds for a great initiative ☕💛 Come down, grab a brew, and finish the semester on a high!

Good luck with your exams. Keep grinding, trust your prep, and back yourself. You’ve got this 💯

Updates

Grounds for Good Cause

Enjoy a free coffee on us and the Very Special Kids Society at Mid Square Coffee this Tuesday! ☕☺️

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

• 📅 Tuesday 27th May

• 🕛 12:00 pm to 3:00 pm

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The Numbers

Markets were mixed this week, with the S&P 500 dropping while Bitcoin and gold reach record highs. Crude oil continued its YTD decline, while other markets were mostly flat.

The Roundup

From rupee resilience to strong growth and fresh cricket leadership, India is gaining momentum. China cuts interest rates and Africa shows signs of an economic rebound.

India

India is charging ahead on all fronts — economic growth is picking up steam , the rupee stays resilient despite global pressures, and bold moves are being made on the international stage. Meanwhile, a new leader emerges to captain the cricket team, marking the start of an exciting chapter.

• The Indian rupee's muted reaction in the face of a persistent decline in the dollar has stirred up confusion among bankers, with some citing foreign portfolio and corporate payment-related dollar outflows as reasons for the rupee lagging among peers💱🤔. While most Asian currencies rose between 0.1% to 0.6% versus the U.S. dollar, the rupee was little changed at 85.61. 🪙📉

• India's private sector activity accelerated at its fastest pace in over a year in May, driven by robust expansion in services even as price pressures intensified. 📈⚙️.HSBC's Flash India Composite Purchasing Managers' Index (PMI) rose to 61.2 this month from April's 59.7 — the sharpest rate of increase since April 2024🚀📊.

• India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan back to its "grey list", and oppose upcoming World Bank funding to Islamabad🕵️‍♂️🧨. Indian Prime Minister Narendra Modi said on Thursday that Pakistan, its army and its economy would "have to pay a heavy price for every terrorist attack." ⏳⚖️

• India named Shubman Gill as their new Test captain on Saturday, picking the top-order batter over pace spearhead Jasprit Bumrah ahead of their five-Test series in England beginning on June 20. 🏏🇮🇳 The decision marks a generational shift in leadership as India banks on young talent to take cricket forward. 🔄🦁

China

This week, Chinas Central Bank continues its aggressive approach towards monetary policy while the Ministry of Transport announces yet another mega project. On the international front, Beijing seeks to strengthen military ties with Thailand and cement its economic relations with the Middle East.

• The People’s Bank of China (PBOC) lowered interest rates as Beijing doubles down on efforts to stabilise the economy. The 10-basis-point cuts targeted towards the 1-year Loan Prime Rate (LPR) and 5-year LPR hope to combat weak consumer demand 📉🛍️, a persistent housing crisis 🏘️💥and record-high youth unemployment 🧑‍🎓📈.

• In a rare move, Chinese regulators green lit the international sale of the countries second largest asset manager, ChinaAMC. The deal, valued at no less than $490m 💰, sees Qatars sovereign wealth fund (QIA) acquiring a 10% equity stake, positioning it as ChinaAMC’s third largest shareholder 🥉. The sale comes as Beijing seeks to strengthen economic and political ties with the Middle East 🌍🔗.

• The Ministry of Transport unveils plans for a new $44.4bn mega canal! The new 767km Class 3 waterway, designed to accomodate 1,000 tonne cargo ships 🌊🚢, will link the manufacturing hub and resource-rich province of Jiangxi 🏭💎 to the wealthy coastal province of Zhejiang 🏖️💰. Beijing hopes the canal will deepen regional integration and become a logistical game changer.

• China’s Ministry of Defence touts new “important consensus” with Thailand following a high profile meeting between the countries’ defence officials. Notable topics discussed included expanding military cooperation through increased joint military drills and training 🪖, deepening strategic communication 📞, and enhancing economic ties 🤝💰.

Africa

As May ends, Africa’s economy is gaining strength. Growth is picking up, digital changes are moving faster, and investors are putting more money into tech and infrastructure. But ongoing conflict in the Sahel and political tensions in East Africa show there are still big challenges ahead .

• North Africa’s tourism bounce 🏝️, East Africa’s strong harvests 🌾, and West Africa’s rising industry 🏭 are driving Africa’s economic recovery. Inflation dropped to 10.8%, but food insecurity lingers in drought-hit areas. Meanwhile, the South African rand rose 📈 after the central bank signaled an interest rate pause.

• Safaricom secured $450M through a dual listing in Nairobi and London 📉📈, attracting global attention to East Africa’s fintech scene. Nigeria approved three new digital banks, underscoring the continent’s fintech surge 📱. In Egypt, a $300M green bond will fund solar and wind energy across the country 🌞💨.

• Mali’s government survived a no-confidence vote, promising a referendum in August and elections by 2026 🗳️. Ethiopia and the Oromo Liberation Army resumed peace talks in Nairobi 🤝, while South Africa passed a major digital privacy law, aligning local regulation with global data standards 🔐.

• MTN Group made waves by launching Africa’s first 5G Standalone (SA) network in Nigeria and Côte d’Ivoire. The rollout, supported by Ericsson and Huawei, brings lightning-fast speeds ⚡ and ultra-low latency, opening new doors for fintech, smart cities, and digital inclusion across urban hubs 🌐.

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 💚