The central bank on Thursday raised its economic growth forecast for South Korea to 2.6 percent for 2026 amid solid semiconductor exports. This file photo shows containers stacked at a port in Pyeongtaek on May 8. Photo by Yonhap
The central bank on Thursday raised its economic growth forecast for South Korea to 2.6 percent for 2026 amid solid exports driven by a semiconductor super cycle.
The revision by the Bank of Korea (BOK) represents a 0.6 percentage-point increase from its previous forecast of 2 percent issued in February.
It is the largest upside revision since May 2021, when the BOK raised its growth projection by 1 percentage point from 3 percent to 4 percent.
For 2027, the central bank estimated its growth outlook at 2.1 percent.
The South Korean economy grew 1.7 percent in the first quarter, marking the sharpest quarterly growth in 5 1/2 years.
The revised outlook broadly aligned with forecasts from other institutions.
The International Monetary Fund (IMF) projected growth of 1.9 percent this year, while the Asian Development Bank (ADB) projected 1.9 percent growth.
The Korea Development Institute (KDI) earlier improved its growth forecast to 2.5 percent for 2026 from 1.9 percent.
The BOK also revised up its inflation prediction to 2.7 percent from 2.2 percent, citing higher international oil prices in the aftermath of the U.S.-Iran war.
For 2027, consumer prices are estimated to rise 2.3 percent, according to the BOK.
“The Korean economy is projected to expand by 2.6 percent this year, well above the February forecast of 2 percent, driven by robust semiconductor exports, while government measures, including the supplementary budget, partially offset the Middle East-driven supply shock,” the BOK said in a release.
BOK Gov. Shin Hyun-song said in a press conference that strong exports will likely contribute 0.7 percentage point to the country’s growth this year, alongside the 0.2 percentage point gains generated by the government’s fiscal support and the 0.1 percentage-point increase brought on by the local stock market rally. On the other hand, the ongoing U.S.-Iran war will drag down the economy by 0.4 percentage point, he added.
“Based on our analysis, we concluded that if the situation in the Middle East is resolved early, this year’s growth rate could exceed 2.6 percent,” he said. “We do not think the growth is a short-lived trend.”
The central bank presented an optimistic scenario in which semiconductor-driven exports gain further momentum, raising its growth forecast by 0.5 percentage point for 2026 and 0.3 percentage point for 2027.
Under a pessimistic scenario, however, a possible slowdown in artificial intelligence investments would lower economic growth by 0.3 percentage point this year and 0.2 percentage point next year, the central bank said.
In line with the upbeat outlook, the BOK kept the key interest rate unchanged at 2.5 percent but signaled a possible rate hike in the second half.
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The EU’s new car market maintained steady growth through the first four months of 2026, with nearly 3.8 million vehicles registered, up 4.2% from the same period in 2025. This is according to data published on Wednesday by the European Automobile Manufacturers’ Association (ACEA).
The figures show a market increasingly dominated by electric and hybrid vehicles, helped by government incentives in major economies and growing competition from Chinese carmakers.
According to ACEA, between January and April 2026, battery-electric cars accounted for 19.7% of the EU market, up from 15.3% a year earlier. Growth was mainly driven by the bloc’s four largest markets, with Italy (+25.5%), Spain (+19.7%), Germany (+6.6%) and France (+2.3%) all recording gains.
In April alone, sales of battery electric vehicles were up by 37.7% in the EU from the same month last year, lifting their market share to 20.6% for the month.
Hybrid-electric vehicles remained the most popular single powertrain choice in April, up 12%, accounting for roughly 36.9% of the month’s sales.
Plug-in hybrids added 16.4%, capturing roughly a 9.8% share in April registrations.
On the other side of the ledger, petrol car registrations fell 16.3% to fewer than 218,500 units, while diesel dropped 17.1% to around 74,000.
Together, petrol and diesel cars accounted for less than 30% of vehicles sold across the EU in April.
Volkswagen Group retained its position as the bloc’s largest carmaker in the first four months of 2026, accounting for 26.7% of all new registrations, with just over one million units sold, up 2.9% year-on-year.
However, performance varied across the group. Skoda registrations rose 15.5%, and Audi gained 8.6%, while the core Volkswagen brand slipped 3.2%, losing ground across multiple segments.
Stellantis ranked second with a 17.1% market share and over 648,000 units, up a robust 7.8%, driven by a recovery at Fiat of over 32%, and strong gains at Opel and Vauxhall, which together rose 22% in registrations.
Renault Group was the weakest performer in the top three, declining 7.4% to around 384,250 units and accounting for a 10.1% market share, with Dacia registering a particularly sharp fall of more than 15%.
BMW Group and Mercedes-Benz posted gains of 3.9% and 3.8%, respectively, while Toyota and Hyundai Group both recorded modest declines of between 2.5% and 3.1%.
The most significant trend in April’s data was the continued rise of Chinese carmakers.
According to ACEA figures, BYD’s EU registrations more than doubled year-on-year in the first four months of 2026, surging 152.9% to more than 71,850 units.
Chery Automobile, through its Omoda, Jaecoo and Jetour brands, grew 267.1% to more than 48,350 units, while Leapmotor, distributing through its joint venture with Stellantis, soared 558.8% to over 28,700 units.
SAIC Motor, owner of the MG brand and the largest Chinese group by EU volume, added a further 10.4% to reach more than 77,000 units.
Combined, Chinese brands accounted for around 6% of EU car registrations between January and April 2026, compared with 3.2% in the same period a year earlier. Across the wider European market, including the UK and EFTA countries, Chinese brands accounted for a combined market share of roughly 7.3% over the same period, up from 3.7% a year earlier.
California’s population will grow more slowly in the next few decades than it has in the past — and that is good for the state’s still-struggling economy, according to a new USC report.
The study projects that the state’s population, now 37.3 million, will continue to increase at a healthy clip — about 1% annually — for years to come. But at least through 2050, we are unlikely to see the boom rates of recent decades, especially the 1980s.
“This is more manageable growth and that’s good news for California,” said Dowell Myers, a USC demography and urban planning professor who co-wrote the report with colleague John Pitkin. “We’re returning to a more normal rate of growth.”
The cooling pace means the state, city and county governments and other entities will have more time to prepare for a bigger population than they did in years past, allowing for more effective planning, Myers and other experts said. That could ensure that new roads and parks, for example, are put in areas where they are most needed and where growth is likely to be sustained, they said.
The researchers said the slowdown will mainly stem from a sharp drop in immigration to California, part of a nationwide trend detailed in other recent studies.
Although the slower pace of growth may be a net positive for California, it will require revisions to an array of public and private plans, including for schools, water projects, transportation, hospitals, highways and other infrastructure.
“Those of us who’ve been here for a while think of California as a place that’s grow, grow, grow — and go, go, go — but this shows that we’re not that anymore,” Hans Johnson, a demographer with the Public Policy Institute of California, said of the USC study released Tuesday. “We’re now more typical of the rest of the nation.”
Johnson noted that the brakes on California’s growth were evident in the 2010 census, after which, for the first time, the state failed to gain a new seat in Congress.
The report, the third in a series of projections by USC’s Population Dynamics Research Group, predicts that California’s population will grow at less than 10% per decade for the next several decades.
In the 1980s, the state’s population surged nearly 26%, adding about 6 million residents. The increases were fueled primarily by the booming aerospace industry and economic problems elsewhere in the country, which made the Golden State a powerful magnet for job seekers.
In the 1990s, the state’s growth rate fell to 14% but remained strong. It slowed further, to 10%, in the decade just ended, the USC report shows. Myers said the continuing falloff from 2000 to 2010 may have been partly due to the recession that began in 2008. Growth was slow even in 2005, when the economy was still strong.
The new predictions differ significantly from California’s official population projections. Those show that the state’s population by 2020 would reach 44 million, a level USC’s researchers now say will not be attained until 2028.
Bill Schooling, chief of demographics research for the state department of finance, praised the USC report and said his staff, too, is working on a new set of population figures, which he says will be lower than its previous estimates. Schooling’s office is racing to produce the new estimates ahead of its regularly scheduled report because demographic changes are so profound that state agencies urgently need fresh data to update their planning.
The USC analysis also predicts that as California’s growth slows, its population will change in various ways. The state in coming decades is expected to have more senior citizens, fewer children and more young adults. The state’s immigrant population will be more settled, with a larger share that has lived in the U.S. at least 20 years.
Each change has implications, the experts said.
The average age of the state’s population, as in the nation, is rising, partly driven by the aging of the huge baby boom generation, whose oldest members were born in 1946 and are of retirement age. The USC researchers say the number of Californians of retirement age compared with people of prime working age (25- to 64-year-olds) will rise to 36 seniors per 100 working-age adults in 2030. It stood at 22 to 100 in 2010.
As the boomers age, they will require more state services and that will create budget challenges, Johnson noted. Also significant is the loss of their workforce skills to the state, he said. Baby boomers are California’s most highly educated generation, he said, with a greater share having graduated from college than younger or older age groups.
A smaller population of children in years to come means savings for the state, mainly in education costs. It could lead to higher per capita spending for the education of those who remain, Johnson said.
The rising share of young adults age 25 to 34 in the next 20 years is good news for the state, which experienced negative growth for that age group from 1990 to 2010, Myers said. Young adults are crucial for the state’s economic growth. They are most likely to become new workers, rent their first apartment, buy a home, have children and be first-time voters, he said.
California’s increasingly settled immigrant population means that its members are more likely than before to have learned English, have children born in the U.S. and remain in the state, Johnson said.
“It’s important for us as a state to make sure immigrants and their families are integrated into our society and are successful, so it’s really important to look to their education,” he said. “The biggest challenge California faces long term is to ensure that enough of our residents go to college, and to make sure they graduate.”
The European Commission on Thursday cut its 2026 growth forecast for the European economy, as the ongoing conflict in the Middle East drives energy prices sharply higher.
The EU economy is now expected to grow by just 1.1% in 2026, down from the 1.4% projected in the Commission’s autumn forecast. The eurozone outlook was revised down further to 0.9%.
In its report, the Commission warned that disruption to global energy markets — caused by escalating tensions around the Strait of Hormuz, one of the world’s key oil and gas shipping routes — has significantly worsened Europe’s economic outlook.
“Before the end of February 2026, the EU economy was expected to continue expanding at a moderate pace, alongside a further decline in inflation,” the report said. “However, the outlook has changed substantially since the outbreak of the conflict.”
Inflation is also expected to rise sharply due to the disruption around Hormuz.
EU inflation is forecast to reach 3.1% this year — a full percentage point higher than previously expected — driven mainly by soaring energy costs after oil and gas prices surged amid fears of supply disruptions in the Gulf.
For EU officials, the shock recalls 2022, when Russia’s invasion of Ukraine triggered Europe’s worst energy crisis in decades.
The Commission described the latest turmoil as “the second such shock in less than five years”, warning that Europe’s dependence on imported fossil fuels leaves it highly vulnerable whenever geopolitical tensions threaten global energy supplies.
Consumer confidence has already fallen to a 40-month low, according to the forecast, as households prepare for higher heating and fuel bills while businesses face rising operating costs and weaker demand.
Investment is also expected to slow as companies confront tighter financing conditions and growing uncertainty. Export growth is weakening as global demand softens.
Despite the deteriorating outlook, Brussels said the bloc is better prepared than during the Ukraine-related energy crisis, thanks to years of investment in renewable energy, lower gas consumption and efforts to diversify away from Russian supplies.
“The push towards supply diversification, decarbonisation and lower energy consumption has left the EU economy better placed to absorb today’s shock,” the Commission said.
However, EU officials acknowledged that risks remain heavily skewed to the downside.
The report warned that prolonged disruption in the Strait of Hormuz or across wider Middle Eastern supply chains could drive energy prices even higher, derail the expected easing of inflation in 2027 and potentially stall Europe’s recovery altogether.
The Commission also cautioned that shortages of refined oil products, fertilisers and other industrial inputs could spread through global supply chains, increasing food and manufacturing costs across Europe.
Meanwhile, European governments are preparing for growing fiscal pressure. Public deficits across the EU are expected to widen as governments increase spending to protect households from rising energy bills while also boosting defence expenditure amid mounting geopolitical instability.
Italian Prime Minister Giorgia Meloni has recently urged the European Commission to relax fiscal rules for households and industries struggling with soaring energy costs, arguing that energy security should be treated with the same urgency as defence spending.
At the centre of Rome’s request is the EU’s national escape clause, adopted on 8 July, which allows member states temporary fiscal flexibility to increase defence spending under exceptional circumstances.
Meloni said Brussels had already shown a willingness to loosen budget rules in response to Russia’s war in Ukraine and growing concerns about Europe’s military preparedness. Italy is now seeking similar flexibility for emergency energy measures.
An ambitious data center project stalls due to insufficient electrical capacity.
Kenya is positioning itself as Africa’s Silicon Savannah and its premier tech hub. Touting itself as a “full-package investment destination,” part of the strategy has been encouraging global tech giants to set up operations in the country.
Lately, however, the plan has run into a roadblock: electrical capacity.
Pull back to May 2024, when Microsoft Corp., in partnership with G42, an Emirati-based AI developer, unveiled plans to invest $1 billion in a data center in Kenya powered by geothermal energy.
Described as the single largest and broadest digital investment in the country’s history, the center would be the heartbeat of a digitally led economy in Kenya and the wider East Africa region, anchored in AI and cloud-computing services.
Two years later, the project has been abandoned on account of too little electricity to power the center.
According to G42, the facility was supposed to be located some 100 kilometers northwest of Nairobi, the epicenter of geothermal energy production. Initially, it would have required 100 megawatts of electricity to run, but when fully operational, 1 gigawatt.
For a country whose installed electricity capacity stands at only 3,840 MW (3.8 GW), and where national connectivity is approximately 76%, the realization was astounding.
“To switch on that one data center, we would need to shut off power for half the country,” said President William Ruto at a recent state event. “That’s when I knew there was a problem.” Kenya continues to lose high-value investments due to low electricity capacity, he conceded; to attract and secure investment, it needs at least 10 GW.
That leaves Kenya with no ongoing power generation projects or plans for more in the future.
The stalling of the data center is bad news for Microsoft. The tech giant saw East Africa as a ripe market for its Azure products and other cloud and AI-powered solutions for businesses and the public sector. A key focus was to help governments digitize operations and service delivery, starting with Kenya, which has indicated plans to move more of its services to the cloud. Another goal was to help startups, entrepreneurs, and organizations build a digital ecosystem offering critical solutions to key sectors of the economy.
Indonesian President Prabowo Subianto unveiled ambitious economic growth and fiscal deficit targets for 2027 while promising reforms aimed at restoring investor confidence and strengthening state institutions. The announcement comes after months of market concerns over government spending plans, policy uncertainty, and weakening confidence in Southeast Asia’s largest economy.
Prabowo outlined a growth target of 5.8 percent to 6.5 percent for next year while aiming to lower the fiscal deficit to between 1.8 percent and 2.4 percent of gross domestic product. The government also expects inflation to remain under control and pledged to improve food security and attract greater investment.
Indonesia has faced growing scrutiny from investors and rating agencies this year. Credit rating outlooks were downgraded due to concerns about policymaking credibility, fiscal discipline, and transparency. Market fears intensified after discussions around possible changes to the country’s long standing fiscal deficit ceiling and rising state spending commitments.
Prabowo confirmed plans to establish a new state agency to oversee exports of major commodities including coal, palm oil, and nickel. The government says the move is intended to reduce revenue losses and strengthen national control over natural resources, but investors worry it could disrupt pricing systems and reduce private sector profitability.
Despite increasing state involvement in strategic sectors, Prabowo stressed that Indonesia still welcomes private companies and small businesses as partners in economic development. He called for cooperation between the government and the private sector to achieve long term prosperity.
Indonesia’s latest economic strategy reflects a balancing act between ambitious state led development goals and the need to maintain investor confidence. While the government aims to accelerate growth and strengthen control over key resources, markets remain cautious about rising fiscal risks and unpredictable policy changes.
The proposed commodity export agency could significantly reshape Indonesia’s role in global resource markets because the country is one of the world’s largest exporters of coal and palm oil. However, stronger government intervention may create uncertainty for foreign investors and commodity traders.
At the same time, maintaining fiscal discipline will be critical as Prabowo moves forward with large welfare programmes and economic reforms. The success of his agenda will likely depend on whether the government can reassure markets while delivering growth, stability, and stronger institutional credibility.
With information from Reuters.
Keysight signals FY 2026 revenue growth in the high 20s% while guiding Q3 revenue to $1.730B-$1.750B
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Earnings Call Insights: Shoulder Innovations (SI) Q1 2026
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Earnings Call Insights: QuickLogic (QUIK) Q1 2026
CEO Brian C. Faith positioned Q1 as progress toward a 2026 growth target, saying, “we have made significant progress toward our goal of delivering 50% to 100% year-over-year revenue growth in 2026,” and added, “we continue to expect
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LONDON — Paymentology, the leading global issuer-processor, today announced a $175 million investment co-led by Apis Partners (”Apis”), a private equity firm specialising in financial infrastructure and services, and Aspirity Partners (“Aspirity”), a pan-European Private Equity firm focused on Financial Technology & Services and Enterprise Technology & Connectivity Services.
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The investment will support Paymentology’s continued global expansion, product development and strengthening of its team, as the company builds on strong demand for modern issuer processing on a global scale.
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The transaction brings together two investors with deep experience in the payments industry and a shared focus on advancing payments infrastructure, united by the view that issuer processing represents one of the most significant opportunities in the sector. For Apis, the investment, made by Apis Growth Fund III1, marks the firm’s 16th payments investment. Both Apis and Aspirity will draw on their deep sector and global network of payments experts to support the next phase of Paymentology’s growth.
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Joe O’Mara, Founder and Managing Partner at Aspirity Partners commented:
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“Payments is a core pillar of our investment strategy, and Paymentology represents the kind of category-leading platform we look to back: modern technology, global relevance and strong exposure to long-term growth in digital payments. As Aspirity’s first investment from our inaugural fund, this partnership reflects our sector-specialist approach and was the downstream outcome of our proactive thematic origination model, including the valuable contribution of our Innovator & Leader network. We have been particularly impressed by the execution and ambition shown by Jeff and the team, and look forward to supporting the company through its next phase of international growth.”
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Matteo Stefanel, Co-Founder and Managing Partner, Apis commented:
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“We are thrilled to partner with Paymentology – a company that operates at the centre of an attractive and fast
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growing segment in the global payments ecosystem – and build on our decade plus relationship with the executive team. Leveraging our global connectivity and sector expertise across the payments value chain, we look forward to supporting management as they continue to scale, extend their capabilities and deliver meaningful, lasting impact by improving access to modern financial services worldwide.”
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Despite the global payments market being estimated at $49 trillion by 2026, much of the issuing layer remains constrained by legacy infrastructure, limiting innovation, speed and the quality of end-user payment experiences. Paymentology is addressing this gap through its highly configurable, cloud-native platform, enabling real-time processing at scale for clients across 68 countries and giving issuers the flexibility to launch, adapt and manage card and digital payment experiences more efficiently across markets.
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Jeff Parker, CEO at Paymentology, commented:
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The future of finance is already here, but legacy infrastructure continues to hold back innovation. At Paymentology, we see a significant opportunity to remove that friction and enable our clients to move at the pace the market demands. We’ve built an issuing platform designed for growth, helping digital banks, fintechs and financial institutions launch, scale and expand their card programmes with confidence. By combining global capability with the flexibility to adapt locally, we enable our clients to compete more effectively with speed, control and efficiency, in an increasingly dynamic landscape.
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This investment and the strength of our partnership with Apis and Aspirity is a strong endorsement of our platform and strategy. It positions us to accelerate our growth, expand our capabilities, and continue supporting our clients as they build momentum, and unlock truly unstoppable progress.
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This momentum is reflected in Paymentology’s performance, with new sales rising 117% year-on-year in FY25 and transaction volumes increasing 65%. Growth has been driven by strong demand from digital banks, embedded finance providers, digital asset-linked card programmes and expense management platforms, alongside established banks modernising legacy systems. The business also benefits from a highly diversified international client base and significant exposure to high‑growth regions including the Middle East, Latin America, Africa and APAC.
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Paymentology’s strong customer relationships, ability to operate across diverse regulatory environments and continuity of management further strengthen its position as a trusted global infrastructure partner. The company will use the capital to support the growth and innovation ambitions of its current and future clients, while expanding beyond core issuer processing into adjacent areas including credit, stablecoin, tokenisation and AI-driven services. Paymentology supports clients in close to 70 countries, including leading FinTechs (for example: M-Pesa by Safaricom, RedotPay, Rain, TrueMoney, ARQ, and many others), and some of the world’s fastest growing neobanks (such as GoTyme, Snappi, Wio Bank, D360, Albo, among others).
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Udayan Goyal, Co-Founder and Managing Partner, Apis added:
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“As the 16th investment Apis has made in the global payments sector, this deal reinforces our strong conviction in the opportunity within issuer processing. This partnership represents a shared vision to accelerate the democratisation of card issuance, broaden access to digital financial infrastructure and expand into new geographies and adjacent capabilities. This further exemplifies our approach of backing proven mission-critical infrastructure providers, capital‑light business models that generate attractive returns while driving measurable positive impact demonstrating that long‑term value creation and impact go hand in hand.”
Visitors look at the Micro RGB TV of Samsung Electronics exhibition booth during the World IT Show 2026 at COEX in Seoul, South Korea, 22 April 2026. Photo by HAN MYUNG-GU / EPA
May 8 (Asia Today) — Samsung Electronics is expanding staffing for its Future Robotics Office as the company accelerates investment in robotics, one of its designated next-generation growth businesses.
The device experience division accepted internal applications for the robotics unit through Friday.
Samsung has identified robotics as a promising future business and has continued investing in the sector through mergers, acquisitions and internal development.
The Future Robotics Office was created in 2024 after Samsung became the largest shareholder in Rainbow Robotics, a South Korean robotics company. The unit was established to speed development of future robotics technologies, including humanoid robots.
During a conference call after its first-quarter earnings announcement, Samsung said the robotics unit, led by Oh Jun-ho, had built a foundation to catch up with leading companies in the field.
The company said it was also working to bring key parts production in-house and secure the ability to develop customized components. Samsung said it would pursue domestic and international partnerships and acquisitions while building its own technologies.
The hiring push comes as Samsung adjusts parts of its business in China, where profitability has weakened. The company recently decided to stop selling televisions and home appliances in China, while continuing businesses such as mobile devices, semiconductors and medical equipment.
The move reflects Samsung’s broader strategy of redirecting resources from weaker business areas toward new technologies and future growth engines.
Although Samsung’s device experience division is currently facing profitability pressure, the company is seeking to secure an early position in robotics, a market expected to expand in the coming years.
— Reported by Asia Today; translated by UPI
© Asia Today. Unauthorized reproduction or redistribution prohibited.
Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260508010001789
Earnings Call Insights: Insulet (PODD) Q1 2026
“We achieved 30% revenue growth, including 28% in the U.S. and 45% internationally,” and “we are raising our full year 2026 total company revenue growth guidance from 20% to 22% to 21% to 23%.” (CEO, President & Director Ashley McEvoy)
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Earnings Call Insights: Live Nation Entertainment (LYV) Q1 2026
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China currently boasts one of the lowest rates of homicide, violent crime, and gun and explosive incidents globally. The Chinese-style sense of security is a comprehensive system integrating advanced technology, community engagement, and continuous improvement in living standards. This has positioned China as one of the safest countries in the world, according to the 2025 Global Security Report, with 98.2% of Chinese citizens feeling safe by 2025, further solidifying its status as a globally stable destination. The pillars of this Chinese-style sense of security are built upon advanced digital technologies, relying on smart networks and modern surveillance systems such as facial recognition and artificial intelligence to enhance the security network within China.
The phrase “Chinese-style security” refers to China’s model for achieving social stability and reducing crime rates. This model is based primarily on three pillars: proactive prevention systems, where, rather than simply addressing crime after it occurs, China focuses on prevention and control through extensive security networks and a constant police presence in key areas; the continuation of the community mobilization system (the Fengqiao model), a historical concept (currently revived) that involves citizens and local committees in resolving community disputes before they escalate into crimes or legal cases, thus promoting the idea of self-regulation and public cooperation with Chinese authorities; and the use of digitalization and artificial intelligence technologies, where China has heavily invested in smart city technologies and the Skynet system. Skynet utilizes millions of cameras equipped with facial recognition and big data analytics to predict suspicious activities and track wanted individuals with high precision. This combination aims to create a secure environment that supports economic growth within China, despite the occasional international debates it sparks regarding the balance between public security and individual privacy.
Data and reports confirm exceptional social stability in China, with citizens’ sense of security exceeding 98% for six consecutive years. This security is attributed to effective governance, advanced digital technologies, and a high standard of living, making China a safe destination for investment and a source of stability. Key features of Chinese governance and the sense of security include increased levels of trust and optimism, with the Chinese people ranking among the world’s highest in trust in the government and optimism about the future, according to trust index reports. A robust safety net exists, built on Chinese-style security through crime prevention systems, community mobilization, and enhanced digitalization. These systemic features, along with numerous other advantages, reflect the stability within China and the state’s ability to fulfill its commitments and provide a safe and stable social environment, earning international praise, particularly in light of global geopolitical conflicts. With the continuation of Chinese-style modernization, ongoing modernization has contributed to raising living standards, thus strengthening the sense of security within China.
Accordingly, the Chinese government and the authorities of the ruling Communist Party of China support several pillars and points that support this approach to enhance the sense of security within the country. Based on current developments, focusing on security as the foundation for development in China, the stability of the situation in China is seen as a key element in boosting investor confidence and building a safe and stable living environment for citizens, which contributes to economic growth. With the intensification of the Chinese-style modernization model, modernization in China is not limited to economic growth but also focuses on improving the quality of life, providing employment opportunities, and upgrading social services, which significantly raises living standards. With the stable sense of security, China, through well-considered social policies, has succeeded in maintaining a high level of social security, which enhances public trust in the government and contributes to long-term stability. This has resulted in continued international praise (amidst crises). At a time when several regions around the world are experiencing geopolitical conflicts, China’s stability stands out as a model attracting the attention and scrutiny of international observers, particularly due to the Chinese state’s ability to effectively manage its internal affairs compared to many systems worldwide, including American and Western ones. This strengthens China’s capacity to lead the developing Global South and strongly promote its model of Chinese governance.
Based on the preceding understanding and analysis, we can see how the development for security strategy can form a fundamental pillar within the Chinese governance system. Improving living standards contributes to consolidating social stability and public security within China. This analysis highlights a delicate equation in the contemporary Chinese landscape, where continuous development (Chinese-style modernization) is linked to social stability, creating a secure environment in a turbulent world.
Global Finance: Over the past four decades, how has TDB Group’s mandate and geographical footprint evolved, and what have been the most significant milestones in advancing trade, regional integration and sustainable development across member states?
Admassu Tadesse: TDB Group is an MDB that has evolved into a group with different subsidiaries and strategic business units which provide specialised financial and non-financial services across all sectors in trade and development banking, asset management, concessional and impact financing, captive insurance, and capacity building.
We were conceived 40 years ago by COMESA Member States to support the region’s economic integration and sustainable development agendas with specialised short and long-term trade and infrastructure financing. We then gradually reformed to welcome other African economies – to better capitalise on cross-country complementarities and support economies of scale. While our initial mandate to finance and foster trade, regional economic integration, and sustainable development has stayed the same, our structure, stable of vehicles and toolbox have evolved through institutional reforms and new solutions, to make sure we remain fit-for-purpose as times change.
With nearly US$ 60 billion in financing deployed over the years, we have become an important player in the African trade finance market and these days, we are focusing efforts on clean energy and cooking, trade-enabling infrastructure, and industrial capacity in sectors like agriculture, health, and structural materials like cement and steel.
GF: What are the key structural challenges that African countries face in accessing affordable, long-term capital, and why are development finance institutions (DFIs) critical in bridging this gap?
AT: Regional DFIs like TDB Group were set-up decades ago following global ones, to help bridge the financing gap and cater to Africa-specific imperatives. To do this, we catalyse global and African capital, de-risking it, and escorting it via different solutions into sustainable development initiatives.
The lack of affordable and long-term capital is indeed a core issue. Beyond perception premiums which persist even amid calm market conditions, global and African geopolitics greatly impact risk pricing and debt sustainability, with commodity price volatility and supply chain turbulence adding further pressure. This also affects our financial industry, which is already continuously working to adapt to evolving industry rules, while innovating out-of-the-box solutions to solve for the problems of scale, price and tenor, and availability of investible opportunities. That’s why we grew into a Group with different vehicles and offerings.
Structurally, while our policy makers work on improving the regulatory and policy environment to facilitate cross-border money flows, improve savings and tax revenues, and give more comfort to capital – the financial industry can work on supporting the expansion of African capital markets, help build repo markets, step-up local currency activity, innovate products, and more.
GF: How can alternative funding structures and innovative financial products help mobilize capital, attract partners and expand access to finance for both governments and the private sector in Africa, and what role do DFIs play in driving these efforts?
AT: Different types of capital and partners gravitate toward different institutional structures and products – hence our Group structure.
We have our Trade and Development Banking SBU, which offers bilateral and syndicated short-term trade and long-term project finance, through direct debt or equity financing, credit enhancement, and advisory and agency services.
We have our Trade and Development Fund, TDF, which plays a catalytic role offering concessional and impact funding, addressing project upstream issues through technical assistance and grants, and channelling capital to sectors and communities often overlooked by traditional finance including through SME lending.
Then, we have our asset management arm which has diverse vehicles customised to match varying investor preferences and impact priorities, and which comprise funds and initiatives with high quality alternative assets that deliver competitive returns and impact, as well as specialised trade and infrastructure-focused fund managers including the ESATAL trade asset management company and the TDB Infrastructure Investment Management Company.
Finally, in addition to our TDB Captive Insurance Company – TCI – we also have a capacity building vehicle, the TDB Academy, which offers trainings, seminars, conferences, and other human and institutional capacity development interventions to TDB and its partners.
GF: As TDB Group looks ahead to the next 40 years, what are the key infrastructure and trade-enabling investments needed to support Africa’s growth? What policy alignments, partnerships and long-term capital strategies are essential to scale impact and drive sustainable development?
AT: The needs are large and multifaceted. The list is long. We need to invest in both economic and social infrastructure – transport including road, rail, ports, airports, logistics hubs; water and sanitation; digital and telecommunications infrastructure; industrial infrastructure like different types of processing zones and facilities; energy to power industrial growth and electrify our communities; health including hospitals and medical equipment; education to build the workforce of the future; housing; etc.
To advance on our development aspirations, we need to grow faster than our population, and offer job opportunities for the latter, which is achievable through a robust industrial base, and the ability to trade our products among ourselves and with the world, with more value-added production and value chains.
I have already referred to policy, partnerships and long-term capital strategies. What I will add is that diversification in partnerships is key to bolstering resilience to different shocks and mitigating risks. This is at the core of our funding strategy. We are keen on staying nimble and quick to innovate to do more with our balance sheet, so that we can do more for our continent and its myriad communities.
(Bloomberg) — Thailand expects the Middle East conflict to weaken economic growth and fuel inflation, underscoring the need for more fiscal support to shield consumers and businesses from a worsening energy crisis. Read More
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People ride on bicycles and scooters on a street, in Shanghai China, 10 April 2026. Photo by ALEX PLAVEVSKI / EPA
April 16 (Asia Today) — China’s economy grew 5.0% in the first quarter, exceeding expectations despite concerns over the impact of the Iran conflict, official data showed Thursday.
The National Bureau of Statistics said gross domestic product rose 5.0% from a year earlier, topping the 4.8% forecast by economists surveyed by Reuters and Bloomberg.
The stronger-than-expected growth was driven by manufacturing and exports. Industrial production rose 5.7% in March from a year earlier, while retail sales increased just 1.7%, highlighting weak consumer recovery.
High-tech industries showed particularly strong momentum. Output in the sector rose 12.5% in the first quarter, with industrial robot production up 33% and integrated circuit output increasing 24%. Manufacturing accounted for about one-third of overall economic growth.
The impact of the Iran conflict has so far been limited. Bloomberg reported that China’s efforts to bolster energy security, along with prolonged deflationary pressures, helped cushion the shock from rising oil prices. However, some effects were visible, including a 2.2% decline in refined oil production in March.
Domestic demand remains a key concern. Real per capita consumption rose just 2.6%, while wage growth slowed. The urban unemployment rate reached 5.4%, the highest level in a year.
Investment indicators were also weak. Fixed-asset investment increased 1.7% in the first three months of the year, while real estate investment fell 11.2%. Private investment declined for the first time outside the pandemic period.
Analysts said China’s economy continues to show an “imbalanced structure,” with growth driven by exports and manufacturing while domestic demand lags. Falling sales of automobiles, home appliances and furniture further point to soft consumption.
Policy responses are expected to remain measured. With growth exceeding expectations, pressure for large-scale stimulus has eased, and the government has set a relatively modest annual growth target of 4.5% to 5%.
Still, targeted fiscal support and cost-cutting measures are likely to continue to address rising energy prices and external uncertainties. Some economists also see room for monetary easing, including a possible reduction in banks’ reserve requirement ratio.
— Reported by Asia Today; translated by UPI
© Asia Today. Unauthorized reproduction or redistribution prohibited.
Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260416010005290
ICICI Bank beats on Q4 earnings after strong credit growth
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Earnings Call Insights: Regions Financial Corporation (RF) Q1 2026
“This morning, we reported strong first quarter earnings of $539 million or $0.62 per share,” said (President, CEO & Chairman John Turner), adding, “We grew loans and deposits on both an average and ending basis, and our credit metrics continue
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