Day: October 15, 2026
🇺🇸 Scott Bessent is calling for major World Bank reforms, including lifting restrictions on financing oil and gas extraction projects.
Bessent argues that countries should be allowed to develop their energy resources without the bank automatically excluding fossil fuel projects.
He also wants the World Bank to support deep-sea mining for critical minerals and expand investment in nuclear energy.
Other demands include limiting borrowing by wealthier countries such as China and Poland and reforming procurement rules to encourage competition.
Bessent also urged the IMF to take a tougher stance against economic policies that distort global trade in an apparent reference to China.
The proposals reflect the Trump administration’s push to reshape international financial institutions around its energy and economic priorities.
Source: The State / Writer: Mhedi
A container ship sinks in the Strait of Hormuz as attacks on commercial shipping escalate. Houthi attacks also put mounting pressure on Saudi Arabia’s crown prince, keeping the security of the region’s energy and trade routes in focus.
South Korea’s Kospi plunges 8%, triggering a 20-minute trading halt as a chip-stock selloff deepens equity losses. US Treasuries rise, while hotter US inflation fuels expectations of further Federal Reserve tightening. Consumer prices record their biggest increase since April.
The energy backdrop remains strained: OECD oil stockpiles fall to their lowest level since 1989. Meanwhile, Middle Eastern refineries increase operations as crude flows recover, despite continuing attacks on shipping.
In an exclusive Bloomberg interview, Nvidia’s chief executive says developers of unsafe AI systems could be cut off, while calling for faster technological progress and highlighting sharply falling AI costs. Separately, Anthropic’s quarterly revenue reaches $16.8 billion ahead of its planned IPO.
Lombard Odier’s Nannette Hechler-Fayd’Herbe discusses AI’s role in manufacturing and her preference for developed-market equities, small caps and Japan. She argues that Europe faces policy challenges rather than a sovereign debt crisis.
Ukrainian President Volodymyr Zelenskyy accuses Donald Trump and Elon Musk of restricting satellite access, raising questions over the country’s reliance on critical communications infrastructure.
At the IMF–World Bank meetings in Bangkok, Lebanese Central Bank Governor Karim Souaid discusses the country’s outlook as the IMF calls for key reforms needed to secure a programme.
In Africa, Eskom’s chief executive outlines a revised strategy as the utility’s monopoly weakens, saying excess capacity creates opportunities to support the wider region. Valterra Platinum approaches a decision on a potential move to underground mining.
Elsewhere, an arrested OpenAI engineer is reported to have booked a one-way ticket to Saudi Arabia. Guests includes Nannette Hechler-Fayd’Herbe, Lombard Odier Head of Investment Strategy, Sustainability & Research, Afshin Molavi, Johns Hopkins University Senior Fellow, Karim Souaid, Lebanese Central Bank Governor, and Karen Young, Columbia University Center on Global Energy Policy Senior Research Scholar.
South Korea’s Kospi plunges 8%, triggering a 20-minute trading halt as a chip-stock selloff deepens equity losses. US Treasuries rise, while hotter US inflation fuels expectations of further Federal Reserve tightening. Consumer prices record their biggest increase since April.
The energy backdrop remains strained: OECD oil stockpiles fall to their lowest level since 1989. Meanwhile, Middle Eastern refineries increase operations as crude flows recover, despite continuing attacks on shipping.
In an exclusive Bloomberg interview, Nvidia’s chief executive says developers of unsafe AI systems could be cut off, while calling for faster technological progress and highlighting sharply falling AI costs. Separately, Anthropic’s quarterly revenue reaches $16.8 billion ahead of its planned IPO.
Lombard Odier’s Nannette Hechler-Fayd’Herbe discusses AI’s role in manufacturing and her preference for developed-market equities, small caps and Japan. She argues that Europe faces policy challenges rather than a sovereign debt crisis.
Ukrainian President Volodymyr Zelenskyy accuses Donald Trump and Elon Musk of restricting satellite access, raising questions over the country’s reliance on critical communications infrastructure.
At the IMF–World Bank meetings in Bangkok, Lebanese Central Bank Governor Karim Souaid discusses the country’s outlook as the IMF calls for key reforms needed to secure a programme.
In Africa, Eskom’s chief executive outlines a revised strategy as the utility’s monopoly weakens, saying excess capacity creates opportunities to support the wider region. Valterra Platinum approaches a decision on a potential move to underground mining.
Elsewhere, an arrested OpenAI engineer is reported to have booked a one-way ticket to Saudi Arabia. Guests includes Nannette Hechler-Fayd’Herbe, Lombard Odier Head of Investment Strategy, Sustainability & Research, Afshin Molavi, Johns Hopkins University Senior Fellow, Karim Souaid, Lebanese Central Bank Governor, and Karen Young, Columbia University Center on Global Energy Policy Senior Research Scholar.
Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.
Chapters:
00:00:00 – Introduction
00:05:10 – Nannette Hechler-Fayd’Herbe, Lombard Odier Head of Investment Strategy, Sustainability & Research
00:13:14 – Oil Falls on Easing Middle East Concerns
00:15:56 – Afshin Molavi, Johns Hopkins University Senior Fellow
00:20:18 – Jensen Huang, Nvidia CEO
00:26:42 – Karim Souaid, Lebanese Central Bank Governor
00:35:34 – Karen Young, Columbia University Center on Global Energy Policy Senior Research Scholar
00:41:24 – Dan Marokane, Eskom CEO
00:43:12 – Valterra Platinum Nears Decision on Underground Move
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Zelensky:
“The question is: Can you give me missiles for Patriot?
Because when I don’t attack them, because you asked me not to attack them, they will attack me.
It’s fair if you give me something with which to defend myself. That’s the minimum I’m asking for.
And when I’m asking this, your answer is blocking Starlink.”
‘They’re smuggling their operatives into Britain with intent to cause mayhem and destruction… we have to declare a national security emergency.’
On this week’s Planet Normal, @reformparty_uk leader @Nigel_Farage highlights the danger posed to the UK by Iran and asks why more is not being done to prevent it.
A total of 69,799 seven-year-olds are now in receipt of disability benefits, according to government data, a higher number than the 66,670 50-year-olds on similar welfare support.
Read this front page story here ⬇️
telegraph.co.uk/business/202…
