Geopolitics

Geopolitics

Saudi PIF launches Tawrid supply chain finance platform

Saudi Arabia’s Public Investment Fund (PIF) has launched Tawrid Company for Financing Solutions, a digital supply chain finance platform authorized by the Saudi Central Bank. Tawrid operates in Sama’s regulatory sandbox and has signed binding agreements with Gulf International Bank, Saudi National Bank, Banque Saudi Fransi, ROSHN Group, and Nesma & Partners. The platform offers early invoice settlement, targeting SMEs to improve liquidity. Its launch supports PIF’s 2026–2030 strategy and follows Sama’s August 26 public consultation on supply chain finance rules, with a 30-day comment period.

2026-09-24

Geopolitics

Egypt, Saudi Arabia Pledge Red Sea Security Amid $800M Monthly Canal Loss

Egyptian President Sisi and Saudi Crown Prince Mohammed bin Salman pledged coordinated action to protect the Red Sea and Bab el-Mandeb Strait amid escalating Houthi attacks. The corridor carries 12% of global trade; disruptions cost Egypt $800 million monthly and $7 billion in 2024. Suez Canal revenue rebounded 23% to $4.67 billion in 2025/2026 but remains well below the $8.75 billion peak of 2022/2023. Houthi advances along Yemen’s Red Sea coast—and renewed strikes on Saudi targets, including near Khamis Mushait—heighten regional vulnerability, especially with Saudi Arabia’s 1,200-kilometre East-West oil pipeline already closed.

2026-09-23

Geopolitics

U.S. Firms Weigh Uses for $134.7B Tariff Refund Cash

A Federal Reserve Bank of Atlanta survey released September 21, 2026, found that U.S. firms receiving tariff refunds — totaling $134.7 billion as of September 11 — are largely holding the funds as cash. Among 1,100 executives surveyed in August, 25% reported receiving or seeking refunds averaging 1.7% of annual revenue. Of those specifying plans, 75% intend to retain the cash; 17% plan customer rebates; 15% will lower prices. Refunds began flowing in May after a Supreme Court ruling invalidated $166 billion in emergency tariffs. August marked the first month customs collections exceeded repayments.

2026-09-23

Geopolitics

East Africa Logistics Costs Rise as Fuel Share Hits 55%

East Africa’s logistics costs are surging, with fuel now making up 55% of road transport expenses—up from 38% in 2021. Cargo movement between Mombasa and Kampala took 111 hours in July–September 2025, far exceeding the 72-hour target. The 1,700-km Northern Corridor faces growing competition from Tanzania’s 1,300-km Central Corridor. Industry leaders urge harmonised customs, digital integration, and end-to-end corridor planning—not isolated infrastructure projects—to restore trade competitiveness.

2026-09-22

Geopolitics

US law empowers 100% tariffs on Indian goods amid trade uncertainty

US President Donald Trump signed the Sanctioning Russia and Iran Act on September 18, empowering him to impose tariffs of up to 100% on Indian goods. The law targets top Russian energy importers and takes effect within 30 days. Indian exporters warn it threatens $42.8 billion in annual US exports and undermines the $140.76 billion bilateral trade relationship. FIEO President SC Ralhan called the prospect 'a complete halt' to US-bound shipments, while Farida Group’s Rafeeq Ahmed noted 65% of his firm’s exports go to the US. With software services exports at $120 billion and a $500 billion trade target by 2030, uncertainty looms large.

2026-09-20

Geopolitics

India holds firm on $40.8B Russian oil amid 100% US tariff threat

India is refusing to yield to U.S. pressure over its Russian oil imports, despite the passage of legislation authorizing tariffs of up to 100% on major buyers like India. In FY26, India imported $40.8 billion worth of Russian crude—nearly one-third of its total crude imports by value. The Ministry of External Affairs affirmed energy security for its 1.4 billion people remains non-negotiable and will be pursued through diversified sourcing. The bill, passed by the U.S. House on Wednesday, now awaits President Donald Trump’s signature. India has warned the measure could damage bilateral relations and disrupt global energy markets, while Russia and China have also criticized the U.S. approach.

2026-09-18

Geopolitics

DP World scales truck fleet 40%, invests $800M in Middle East ports

DP World is expanding its overland logistics network following the Iran conflict, betting that Strait of Hormuz shipping will not return to prewar conditions. The firm plans to grow its truck fleet by 40% — from 700 to 1,000 units — and launch new land corridors including a Europe-Iraq-UAE route. Jebel Ali volumes dropped nearly 60% in the first half of 2026, prompting $800 million in port upgrades at Jeddah and Tartus. Funding includes $1.6 billion in bonds issued last week. Land transport costs three to four times more than sea freight, yet DP World expects sustained demand for reliability.

2026-09-15

Geopolitics

IFC proposes $50M trade finance facility for Vietnam’s PGBank

The International Finance Corporation (IFC) has proposed a $50 million trade finance facility for Vietnam’s Prosperity and Growth Commercial Joint Stock Bank (PGBank) under its Global Trade Finance Program. As of June 30, 2026, PGBank reported $3.4 billion in total assets, 23 branches, and 68 transaction offices. Domestic investors held 99.999% of its shares as of December 31, 2025, with three major institutional shareholders holding stakes of 11.37%, 11.22%, and 11%. IFC is also advising PGBank on risk management and sustainable finance frameworks.

2026-09-15

Geopolitics

Los Angeles Port Handles 2.9M TEUs in Record Three-Month Stretch

The Port of Los Angeles set a new record by handling over 2.9 million TEUs from June through August 2026 — its busiest three-month period ever. August volumes totaled 955,000 container units, matching last year’s figure, with 500,000 import containers — 7% above the five-year August average. Exports fell 9% year-on-year to 115,500 units, while empty container arrivals rose 4% to over 340,000. The National Retail Federation now projects U.S. import volumes will stay elevated in September before declining through the rest of 2026, citing China weather delays and Panama Canal rerouting. Gene Seroka, port executive director, called it an 'exceptionally strong summer.'

2026-09-13

Geopolitics

BRICS Issues 45-Page Joint Communique Targeting US Middle East War

Leaders from 10 BRICS nations issued a 45-page joint communique in New Delhi on September 12, 2026, targeting US military action in the Middle East, tariffs, and sanctions. Though unnamed, the United States and President Donald Trump were central to the document’s critique. The summit brought together Vladimir Putin, Xi Jinping, and Narendra Modi, whose symbolic hand-holding was captured in a Press Information Bureau photo released the same day. Related Bloomberg reporting on September 9–11 underscored the timing’s significance amid escalating Iran-related tensions.

2026-09-13

Geopolitics

Macy’s raises full-year sales forecast to $21.83bn after Q2 profit surge

Macy’s reported Q2 net income of $169m — nearly double the $87m from last year — on net sales of $4.9bn, up 1.1% year-on-year. Bloomingdale’s posted an 11.3% comparable sales gain, its highest Q2 ever. Tariff refunds totaling $116m contributed $0.23 per share and funded strategic reinvestment. The company raised its full-year sales forecast to $21.68bn–$21.83bn and adjusted EPS guidance to $2.15–$2.35. CEO Tony Spring credited the 'Bold New Chapter' strategy for cross-brand gains, including Reimagine 200 stores and Bluemercury.

2026-09-12

Geopolitics

Trump bans Canadian dairy, alcohol, motorcycles amid $20B tariff clash

The Trump administration escalated its trade conflict with Canada on September 09, 2026, by banning imports of Canadian dairy, alcohol, and motorcycles effective September 29, 2026, and restricting Canadian goods from U.S. federal procurement contracts. Canada’s retaliatory tariffs — ranging from 15% to 50% — affect $20 billion in U.S. goods, or 6% of last year’s exports to Canada. U.S. goods exports to Canada totaled $333.6 billion in 2025; imports from Canada reached $381.9 billion. Freight volumes from Canada to the U.S. fell ~16% post-Labor Day, per SONAR data.

2026-09-11