Core Insights - South Korea's information and communication technology (ICT) exports reached a record high in May, totaling $20.88 billion, marking a 9.6% year-on-year increase despite uncertainties from the Trump administration's tariff policies [1][2] - Semiconductor exports were the largest contributor, amounting to $13.8 billion, driven by price recoveries in DRAM and NAND flash memory, as well as strong demand for high-bandwidth memory [1] - Mobile phone exports increased by 2.8% to $1.05 billion, supported by a 30.7% rise in complete device exports due to anticipated U.S. tariffs, despite a 10.2% decline in component exports [1] Export Performance - The export growth was notable across various regions, with increases to the U.S. (7.2%), Vietnam (15.7%), the EU (1.5%), and Japan (12.5%), while exports to China fell by 6.8% due to a 7.1% decline in semiconductor exports [2] - The U.S. export value reached $2.29 billion, marking 19 consecutive months of growth [2] Import and Trade Balance - The ICT import value was $11.53 billion, reflecting a 0.5% year-on-year increase, with GPU imports for artificial intelligence infrastructure surging by 51.1% to $100 million [2] - The trade surplus in the ICT sector for May was $9.35 billion [2]

Group 1 - Morocco's participation in the Paris Air Show aims to establish its position as a key player in the global aviation industry [1] - The Moroccan delegation signed multiple strategic agreements to attract advanced technology investments and enhance the development of the aviation industry [2] - Key agreements include collaboration with India's Genser Aerospace for a multi-purpose business jet, and an expansion agreement with France's Latécoère for producing critical aircraft engine components in Casablanca [2] Group 2 - Figeac Aero announced a new contract with Boeing for the production of Boeing 737 MAX components at its Moroccan facility [2] - Airbus holds nearly 60% market share in Morocco's aviation sector, with significant procurement of locally manufactured parts, indicating a strong strategic partnership supported by the Moroccan government [2] - Boeing established a strategic partnership with the "African Center of Excellence in Manufacturing" at Mohammed VI Polytechnic University to foster industrial innovation and develop advanced technologies for future industry needs [2]

Group 1 - The meeting organized by the Mauritania Embassy highlighted the strong strategic partnership between China and Mauritania, with ongoing deepening of bilateral economic and trade cooperation providing a favorable environment for business operations in Mauritania [1] - Participating companies reported positive developments in their operations since the beginning of the year, citing stable internal politics, good social security, and steady economic growth in Mauritania as key factors for their success [1] - Companies expressed commitment to enhancing project efficiency, fulfilling social responsibilities, and maintaining a positive image of Chinese enterprises in Mauritania under the guidance of the embassy [1] Group 2 - Ambassador Tang Zhongdong emphasized the successful outcomes of the recent China-Africa Cooperation Forum and the Fourth China-Africa Economic and Trade Expo, which fostered new momentum for deepening political trust and implementing cooperative actions between China and Africa [2] - The ambassador encouraged Chinese enterprises in Mauritania to seize opportunities presented by the deepening cooperation between China and Africa, innovate, and enhance their market competitiveness to contribute to Mauritania's economic transformation [2] - Specific requirements were outlined for Chinese enterprises to better leverage their roles in Mauritania's business community [2]

Core Insights - The Human Development Index (HDI) in Latin America and the Caribbean has been declining since 2010 due to weak economic growth and increasing geopolitical tensions [1] - Despite a reduction in poverty from 48% in 2000 to 25% in 2023, the middle class remains unstable, with 31% of the population at risk of falling back into poverty [1] - The region faces new challenges including technological lag, deepening social divides, and severe climate change impacts [1] Technological Progress - Only 2% of the population in Latin America has access to 5G networks, compared to 28% in developed economies [1] - High-income households have internet access that is twice as likely as that of low-income households [1] Social Development - Social division has become a prominent feature in the region, with political polarization index reaching 3.3, significantly higher than other regions [1] - Trust in government has decreased from 43% in 2008 to 30% in 2023, leading to a rise in anti-establishment figures [1] Climate Change - The average surface temperature in the Americas is projected to rise by 2.3 degrees Celsius by 2024 compared to the 1951-1980 average [1] - Natural disasters such as droughts and floods are expected to decrease productivity and increase mortality rates, with 28% of the population facing threats to food and water security [1]

Core Viewpoint - The budget for the fiscal year 2025-2026 presented by the new government of Mauritius focuses on economic revival, a new social order, and fiscal consolidation, aiming to restore economic confidence, improve living standards, and enhance public financial resilience [1] Group 1: Economic Strategy - The budget aims to open new growth sources, reduce external deficits, enhance productivity, attract investment for high-paying jobs, and improve overall living standards [2] - A new economic model will be adopted, emphasizing research and development to foster a knowledge economy, transformative investments, and reforms in trade strategies to boost competitiveness [2] - The government plans to develop four new "growth poles" to position Mauritius as a regional hub for innovation, high-value employment, and investment [2] Group 2: Social Welfare and Protection - The budget includes significant reforms to rebuild the social contract and promote inclusive development, ensuring social welfare for vulnerable groups and targeted support for low-income households [2][3] - Key social measures include an increase in the basic pension by 1,000 rupees starting January 2025, with a total allocation of 68 billion rupees for pensions [3] - Approximately 81% of employees will be exempt from income tax, and a minimum monthly income guarantee of 20,000 rupees will be established for full-time employees [3] Group 3: Fiscal Goals - The government aims to achieve a real GDP growth of 4% to 5%, attain a primary budget surplus, and reduce public sector debt to 75% of GDP, with a long-term target of 60% [1][2] - The budget outlines plans for significant investments in infrastructure, including 128 billion rupees over five years for housing, transportation, and utilities [3] - A price stabilization fund of 10 billion rupees will be established to alleviate cost-of-living pressures, alongside tax adjustments on various goods [3]

Group 1 - The UAE, particularly Dubai and Abu Dhabi, is becoming a new hub for international capital due to increasing global trade barriers and macroeconomic uncertainties [1] - As of the end of 2024, the total market capitalization of the UAE capital market is projected to reach $1 trillion, with the allocation of UAE assets in global emerging market funds nearly doubling from 35% to 65% since mid-2021 [1] - The CEO of Dubai Financial Market (DFM) indicated that by June 2025, the DFM market capitalization is expected to reach 951 billion dirhams, highlighting the influx of international capital and confidence in Dubai's long-term growth [1] Group 2 - The Abu Dhabi Securities Exchange (ADX) has also shown strong performance, with foreign net inflows reaching 11 billion dirhams in the first five months of 2025, a 78% year-on-year increase, and foreign trading volume growing over 347% in the past five years [1] - Despite a slowdown in global IPO activities, the GCC region's IPO financing increased by 33% year-on-year in Q1 2025, with the UAE and Saudi Arabia leading the contributions through government-led privatization and regulatory reforms [1] - The UAE's bond market and private credit platforms are expanding, providing investors with a wider range of investment tools, supported by strong fiscal buffers and stable credit ratings [2] Group 3 - The Central Bank forecasts a 5.3% growth in the UAE's non-oil GDP by 2025, with sectors such as technology, green energy, infrastructure, and hospitality attracting capital amid a shift towards a knowledge-based economy [2] - HSBC predicts that the UAE's GDP growth will continue to outperform most emerging markets over the next three years, offering a relatively safe investment window in the current unstable global environment [2] - Structural reforms, strategic IPOs, and a diversifying industrial composition are expected to further solidify the UAE's position in global capital markets [2]

Group 1 - The Vietnamese National Assembly is discussing the draft amendment of the Railway Law, emphasizing the need for a list of railway products and services to be produced domestically, with a focus on protecting local industries from foreign imports [1] - The draft law proposes exemptions on import taxes for railway products that cannot be produced domestically, highlighting the current lack of a railway industry in Vietnam [1] - There is a concern that companies receiving orders may resort to importing products or assembling parts from abroad, undermining the goal of developing the railway industry [1] Group 2 - The draft law encourages private investment in railway projects but currently lacks mechanisms for private investors to participate in state-funded projects, such as the North-South high-speed railway [2] - Representatives suggest adding provisions for private investors to participate in state-funded railway projects, ensuring that private investment does not exceed the original state budget plans [2] - The proposal includes establishing standards for selecting private investors, focusing on maintaining project goals and ensuring operational efficiency [2] Group 3 - The draft law supports urban development based on the Transit-Oriented Development (TOD) model, allowing provincial authorities to manage railway-related urban planning [3] - Concerns arise that railway investors may prioritize TOD projects over actual railway construction, leading to potential conflicts of interest [3] - Recommendations include stipulating that TOD components adjacent to railway projects should be state-funded and subject to competitive bidding, while also allowing railway investors some preferential treatment in the bidding process [3]

Core Insights - Vietjet Air has signed an order for 40 Trent 7000 engines from Rolls-Royce, increasing its total order to 80 engines for 20 Airbus A330neo aircraft [2] - The airline aims to enhance its international route network, particularly targeting markets in Europe, Northeast Asia, and North America [2] - Vietjet Air operates over 130 fuel-efficient aircraft and has ordered more than 400 planes to expand its flight network in the Asia-Pacific region [2] Group 1 - Vietjet Air has chosen Rolls-Royce as a strategic partner in its vision for a new generation of wide-body aircraft [2] - The airline continues to select TotalCare® engine maintenance services to optimize operational efficiency and extend engine lifespan [2] - Vietjet Air has received high safety ratings and is recognized as one of the best-performing airlines globally by various aviation organizations [3]

Group 1 - The recent improvement in foreign exchange supply is positively impacting the business community in Papua New Guinea, with hopes for its sustainability [1] - The rise in prices of gold and cocoa has led to increased foreign exchange inflow, enhancing the domestic foreign exchange situation compared to the same period last year [1] - The backlog of foreign exchange orders at major banks decreased from 1 billion kina last June to 600 million kina by the end of March this year, significantly reducing the waiting time for businesses to access foreign exchange [1] Group 2 - The time required to fulfill supplier orders has improved, now taking weeks instead of months, which is encouraging for market demand [1] - Despite improvements, achieving a balance between supply and demand may still take time [1]

Group 1 - Bosnia and Herzegovina is initiating bilateral tariff negotiations with the United States, focusing on key areas such as energy, infrastructure, and free trade agreements, due to being listed among countries subject to high tariffs on exports to the U.S. [1] - The meeting approved Bosnia's accession to the European Convention on Artificial Intelligence and Human Rights, which mandates compliance with human rights, democracy, and rule of law standards throughout the AI lifecycle [1] - The convention was opened for signature on September 5, 2024, in Lithuania, and has received unanimous support from Bosnia's national, entity, and state-level institutions [1] Group 2 - A joint inter-ministerial working group will be established to draft the "Bosnia and Herzegovina Critical Entities Protection and Resilience Act" within six months, in compliance with EU Directive EU2022/2557 [2] - The working group will include representatives from security, defense, finance ministries, and tax and immigration management agencies [2] - Amendments to the "Overseas Representative Office Establishment Fund License Regulation" will allow companies to submit funding usage records within 90 days, addressing issues related to a 1995 labor agreement with German companies [2]