NEWS

Latest updates

• Erdogan well positioned to retain presidency in second vote

  • Although Mr Erdogan will not reach the 50% threshold required to avoid a run-off election, the preliminary first-round results give him a strong lead in the presidential election and a parliamentary majority.
• Opposition Move Forward Party comes out top in Thai election

  • Preliminary results from the Election Commission show that the opposition Move Forward Party (MFP) has won the highest number of seats in Thailand’s House of Representatives (lower house).
• How the debt-ceiling crisis could play out: four scenarios

  • The Treasury secretary, Janet Yellen, has said that the federal government could run out of funds to pay its bills as soon as June 1st—the “X date”.
• Saudi renewables development belatedly picks up speed

  • The Public Investment Fund (PIF, a sovereign wealth vehicle) has finalised contracts with two local affiliates to install 4.55 GW of solar photovoltaic (PV) capacity—the largest single addition to Saudi Arabia’s renewables pipeline—and developers are preparing to pitch to develop another 3.37 GW of carbon-free power.
• Global Outlook: the US debt ceiling saga

  • In EIU’s latest global outlook video, global forecasting director, Agathe Demarais, and global economist, Cailin Birch, discuss the US debt ceiling saga.
• Russia-North Korea summit pleases no one else

  • Geopolitical isolation will push Russia and North Korea closer in the coming years. This will augment both countries’ security threat to the rest of the world.
• ASEAN summit makes limited progress on security issues

  • World leaders gathered in the Indonesian capital, Jakarta, on September 5th‑7th for the annual Association of South‑East Asian Nations (ASEAN) Summit and East Asia Summit.
• Vietnam’s diplomatic upgrade is in line with US expectations

  • Vietnam has upgraded the diplomatic status of the US to that of a “strategic comprehensive partner”—a two-step enhancement over the previous “comprehensive” partnership, elevating the US to the same status as China and Russia in Vietnam’s diplomatic taxonomy.
• US centrists ponder independent presidential ticket in 2024

  • An emerging political movement known as No Labels may nominate an independent ticket to compete in the November 2024 US presidential election.
• Looming risks may derail Gulf Railway project

  • Progress on implementing the long-delayed Gulf Railway project has shown signs of accelerating in recent months, characterised by a flurry of bilateral agreements and the ramping up of infrastructure spending by Gulf Co‑operation Council (GCC) governments and foreign investors.

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