Uruguay continues to position the EU–Mercosur agreement as a historic opportunity, with supporters describing it as the creation of the world’s largest free trade zone. The deal is seen by the government as a strategic bet to expand market access, attract investment, and strengthen Uruguay’s role as a reliable trading partner between South America and Europe, even as negotiations face resistance within the EU.

European Union proposes unlocking €45 billion to ease agricultural protests linked to Mercosur

The European Union has proposed mobilising €45 billion (US$52.2) to calm widespread agricultural protests opposing the EU–Mercosur agreement. The move reflects internal European tensions over the deal, particularly concerns from farmers about competition, standards, and market disruption, developments closely watched in Uruguay, given the agreement’s centrality to its export strategy.

Uruguay’s political system remains divided over the situation in Venezuela

Uruguay’s political landscape is once again split over how to approach the crisis in Venezuela . Disagreements persist across parties on diplomatic positioning, recognition of leadership, and responses to human rights concerns, underscoring long-standing ideological divisions in the country’s foreign policy debates.

Antifascist organisation challenges Yamandú Orsi over comments on Nicolás Maduro

An antifascist organisation has publicly questioned Uruguay's President Yamandú Orsi following his comments on Venezuelan President Nicolás Maduro. Orsi stated that Maduro’s departure would be positive only if it led to the end of authoritarianism and the restoration of democracy, remarks that have sparked criticism and renewed scrutiny of political discourse surrounding Venezuela.

Economic debate intensifies over exchange rate lag, flat dollar, and competitiveness

Uruguay is facing renewed debate over what has been described as a “so-called” exchange rate lag, with data from the end of 2025 fuelling concerns about competitiveness. A flat dollar has helped keep inflation low but at the cost of export competitiveness, while water stress has also brought the issue of guaranteeing potable water supply back into focus, highlighting the interconnected pressures facing the country’s economic model.

In 2019, 97% of Bougainvilleans sent a powerful message by voting “yes” to independence from Papua New Guinea (PNG). The aspiration, however, remains unfulfilled.

The “ Era Kone ” covenant, signed to guide the transition, established a 2025–2027 timeline for recognition. Still, PNG’s parliament has not ratified the referendum, and delays have stirred frustration among Bougainville’s leaders and people.

The island's leadership is doubling down on its push for independence.

President Ishmael Toroama made it clear that the region will not veer from its chosen course. “It gives us the opportunity, whether the national government likes it or not,” he told RNZ Pacific, adding that the right to self-determination is “a national constitution guarantee or the framework of the Bougainville Peace Agreement… At least it is the constitutionally guaranteed process set in by the National Constitution.”

The drive for sovereignty is equally central to Ezekiel Masatt , Bougainville’s Independence Implementation Minister. He also emphasised that the signing of the Melanesian Agreement at Burnham was a turning point.

“We must obtain political independence to have some sovereign powers, to make some strategic economic decisions,” he said. “Now, given the Melanesian Agreement , where Bougainville can achieve some sovereign powers, I think that is a great start in the right direction.”

A landmark election

The September 4 poll is historic for its scale and logistics. Conducted in a single day, it will stretch across 544 polling stations with more than 3,000 staff, ensuring the process runs smoothly. More than 400 candidates, including seven vying for the presidency, will contest the vote.

The Bougainville House of Representatives will expand to 46 seats, thanks to five new single-member constituencies. This structure preserves reserved seats for women and former combatants, ensuring inclusive representation. Over 204,000 voters are also registered to take part.

Notably, this election reflects unprecedented gender diversity. Thirty-four women are running, including 14 for the three reserved women’s seats and several in open constituencies.

Among them are Elizabeth Palin, a former teacher and local leader now contesting a women’s reserved seat, and Amanda Masono, a sitting member who is shifting to compete in the open Atolls constituency (Asia Pacific Report).

Economic choices ahead

The independence debate cannot be separated from Bougainville’s economic future. At the centre lies the Panguna mine , once the engine of PNG’s export economy before civil conflict and environmental devastation forced its closure.

For Toroama, reopening Panguna is crucial for economic sustainability.

The mine is not the only factor shaping Bougainville’s economy. International attention is growing, with China and the United States signalling interest in infrastructure and resource projects.

North Korea has barred foreign tourists from entering its newly opened Wonsan-Kalma beach resort, just weeks after promoting it as a world-class destination. According to Korea JoongAng Daily, the state-run DPR Korea Tour website announced on July 18, 2025, that the resort would temporarily stop accepting foreign visitors, without giving reasons or a timeline. The ban comes shortly after Kim Jong-un hosted Russian Foreign Minister Sergey Lavrov there on July 12, calling him the first foreign guest and signalling efforts to promote the site internationally. Lavrov reportedly pledged support to boost tourism. The multi-million dollar project, delayed by sanctions and the pandemic, finally opened on June 24. Domestic tourism officially began July 1, with state media hailing the resort as a “national treasure-level tourist town.” Kim praised it as one of North Korea’s greatest achievements of the year.

Russia causes alarm with official North Korea visit

Russia and North Korea are deepening their relationship during a three-day visit by Russian Foreign Minister Sergey Lavrov, aimed at aligning views on the Ukraine war. Lavrov’s visit follows an earlier trip by Russian security chief Sergei Shoigu, who confirmed that North Korea sent thousands of military workers and reportedly around 12,000 troops to support Russia. In return, concerns are rising that Kim Jong Un may seek advanced Russian military technology, potentially escalating his nuclear capabilities. Meanwhile, U.S. Secretary of State Marco Rubio met Lavrov on July 10 to discuss peace talks, though he noted that President Trump remains frustrated with Russia’s lack of flexibility.

The strange disappearance of the US-North Korea conflict

If you had fallen into a coma in early 2018 and awakened in 2025, you might be surprised by the silence surrounding the once-volatile US–North Korea conflict . Just a few years ago, tensions were at a boiling point. North Korea, seen by many in the West as unpredictable and hostile, was rapidly advancing its nuclear weapons program—conducting test explosions and missile launches while openly threatening the U.S., Japan, and South Korea. At the time, President Obama had warned his successor, Donald Trump, that North Korea posed a major security threat. The Trump administration adopted a hardline stance, signalling it was prepared for military intervention if necessary. Top officials labelled a nuclear-capable North Korea “intolerable,” and Trump famously vowed, “It won’t happen,” warning that any threats would be met with “fire and fury.”

North Korea is becoming increasingly isolated from the world

For years, experts and U.S. officials have stressed that North Korea’s human rights abuses must be addressed alongside its nuclear ambitions. The regime funds its weapons programmes through repression, forced labour, and cyber theft. The U.S. Congress recognised this in 2004 with the North Korean Human Rights Act, which prioritised human rights in diplomatic talks and authorised funding for independent media broadcasts and intelligence gathering. Though Congress renewed the law in 2008, 2012, and 2017, it lapsed in 2022. Despite this, funding has continued through the State Department’s human rights bureau. Ending this support would deprive the U.S. of vital insights as North Korea expands its global military presence and tightens control at home.

South Korea revives nuclear sub plans after North Korea’s progress

Facing increased threats from North Korea and Pacific tensions, South Korea is revisiting plans for nuclear-powered submarines to boost defence autonomy. On July 18, 2025, Foreign Minister nominee Cho Hyun announced plans to renegotiate the 123 Agreement with the U.S. to enable such development. Cho aims to revise the treaty to allow for nuclear sub capabilities, enhancing South Korea's deterrence and reducing reliance on the U.S. Navy. He noted that following internal review and U.S. coordination, the submarines may be introduced as part of a broader strategic upgrade.

The Indonesian government has facilitated local bag maker Summit Travel Goods to export 5,830 bags valued at over US$49,000 to US consumers through Tanjung Emas Port. As reported by Ruwia Purnama Adie of Kudus Customs, this initiative aims to empower MSMEs by streamlining export procedures and providing technical guidance, helping local businesses compete internationally and stimulate regional economies.

Spirulina enhances livestock productivity in Indonesia

According to Puji Lestari from BRIN, Indonesians are adopting Spirulina spp. as an effective low-cost feed supplement for livestock, improving the nutrition and growth of animals. Spirulina is nutrient-rich and resilient, thriving in extreme environments while helping combat climate change. Researchers note that supplementing Spirulina at just 1% of an animal's body weight can significantly enhance livestock productivity.

Accelerated rollout of free meals programme in Indonesia

In a recent virtual meeting, Indonesia’s leaders, led by Karnavian, were urged to expedite the rollout of the MBG programme, aimed at improving child nutrition and creating jobs. This flagship initiative, launched on January 6, targets vulnerable groups and seeks to strengthen local food supply chains, furthering economic growth at regional and national levels.

Indonesia negotiates zero tariffs on key commodities with the US

As reported by Susiwijono Moegiarso, Indonesia is negotiating with the US for zero tariffs on key commodities like crude palm oil, coffee, and cocoa, despite a 19% tariff currently in place. Discussions led by Economic Affairs Minister Airlangga Hartarto are also aiming to address restrictions and enhance bilateral trade capabilities.

Ex-minister sentenced for sugar import scandal

Former Indonesian trade minister Thomas Trikasih Lembong was sentenced to 4.5 years in prison for improperly issuing sugar import permits, resulting in significant state losses. The Jakarta court found him guilty of prioritising private interests over regulatory procedures. Lembong contended his prosecution was politically motivated due to his opposition ties, though prosecutors refuted this claim.

Finance Minister Sri Mulyani Indrawati announced a 2026 growth target of 5.2% to 5.8%, higher than this year’s goal and forming a base for President Prabowo’s 8% long-term target .

Key forecasts in the KEM-PPKF include:

She emphasised the need to navigate global uncertainties while maintaining purchasing power and price stability.

Ride-hailing drivers in Indonesia hold protests to demand better pay

Hundreds of taxi and delivery drivers protested across Indonesia on Tuesday, demanding higher wages and opposing a potential merger between GoTo and Grab. In Jakarta, drivers in green jackets rallied near government offices, accusing companies of exploitative practices. Many earn just 100,000–150,000 rupiah ($6–$9) for 10–12 work hours. GoTo, which operates Gojek, welcomed driver feedback, but lowering fare commissions wasn't the answer. It confirmed receiving merger proposals but stressed no decision had been made.

6 military figures enter strategic economic positions in Prabowo era

President Prabowo Subianto continues placing military figures in strategic economic roles , most recently naming Lt. Gen. TNI Djaka Budi Utama as the new Director General of Customs and Excise, replacing Askolani. Djaka previously served as Main Secretary of the State Intelligence Agency (BIN) and is a former member of the Mawar Team. The move adds to a growing list of military appointments in ministries and SOEs under Prabowo’s administration. Earlier, Maj. Gen. TNI Novi Helmy was made President Director of Perum Bulog, replacing Wahyu Suparyono. Novi is expected to resign from active duty following his appointment.

Indonesia projects weaker rupiah at Rp16,900/USD in 2026

The government has submitted its 2026 Macroeconomic Framework (KEM-PPKF) to Parliament, projecting the rupiah to weaken to Rp16,500–Rp16,900 per USD, compared to Rp16,000 in the 2025 State Budget. Finance Minister Sri Mulyani and Fiscal Policy Chief Febrio Kacaribu cited global uncertainty and recent market volatility as key reasons for the conservative forecast. The range remains subject to review before the final 2026 State Budget Draft (RAPBN) is prepared.

Indonesia backs Thailand’s bid for full BRICS membership

Foreign Minister Sugiono confirmed Indonesia’s full support for Thailand’s bid to join BRICS , noting the request predates Indonesia’s membership. "We will make every effort to help Thailand be accepted," he said on May 20.BRICS—formed in 2006 and expanded in 2024 to include five new members—welcomed Indonesia in early 2025. Thailand’s entry, backed by Jakarta, is expected to strengthen Southeast Asian economic ties within the bloc.

The UAE cabinet has approved a balanced budget for the 2025 fiscal year, with expenditures set to increase by nearly 12% to 71.5 billion dirhams ($19.47 billion). Revenue is also projected at 71.5 billion dirhams, maintaining the budget's balance. Nearly 40% of the budget will focus on social development, including significant allocations for education and healthcare. Over 35% will support government affairs, with smaller portions for infrastructure and economic sectors. This budget is part of the UAE's multi-year financial plan for 2022-2026, Zawya reports.

Insurance market leader

The MENA region's insurance market reached a turnover of 50.8 billion USD in 2023, a 9.2% increase from 2022. Non-life premiums dominate, making up 81.2% of the total. According to Atlas Magazine , Saudi Arabia leads the market with 17.45 billion USD (34.4% share), followed by the United Arab Emirates at 14.71 billion USD (29% share).

Crypto exempt from VAT

The United Arab Emirates has announced that cryptocurrency transactions will be exempt from value-added tax (VAT) starting 15 November 2024, with retroactive effect from 1 January 2018. This decision, communicated by the Federal Tax Authority, clarifies that digital assets will not incur the standard 5% VAT, aligning their tax treatment with traditional financial services. As reported by The Paypers , the UAE's regulatory framework supports fintech innovation and aims to bolster cybersecurity amid increasing digital transactions. Collaboration among fintech companies, regulators, and financial institutions is essential to address security challenges.

Goodwill campaign for Lebanon

Sheikh Theyab Bin Mohamed has launched a two-week philanthropic campaign in the UAE, running from October 8 to October 21, to support the people of Lebanon, under the slogan "The UAE Stands with Lebanon." This initiative follows President Sheikh Mohamed bin Zayed Al Nahyan's order for a $100 million relief aid package and the dispatch of six planes with 205 tonnes of essential supplies. Bernama adds that the campaign aims to engage community members and organizations in providing humanitarian support to Lebanon amid its ongoing crisis.

$100 billion investments

India aims to attract $100 billion in investments from the United Arab Emirates, announced Commerce and Industry Minister Piyush Goyal. Following the 12th India-UAE High-Level Task Force meeting, he highlighted that key sectors like data centres, AI, renewable energy, and transmission infrastructure will see significant funding. Currently, UAE's direct equity investments in India total just under $20 billion, with nearly $3 billion invested in the last fiscal year. Over the past five years, UAE's annual investments in India have tripled, making it the seventh-largest investor in the country, Business Today reports.

Participants include CEOs like David Solomon from Goldman Sachs, James Gorman from Morgan Stanley, Jane Fraser from Citigroup, as well as Noel Quinn from HSBC and Bill Winters from Standard Chartered. Prominent figures from Blackstone Group, Carlyle Group, Citadel, and other firms will also speak at the event, which revolves around the theme of "living with complexity."

These executives are gathering in Hong Kong amid significant job cuts in the banking and asset management sectors in the city due to the slowdown in China's dealmaking activities and tighter regulatory oversight since the inaugural summit held last year. That summit marked Hong Kong's resurgence as a global financial hub following the disruptions caused by the COVID-19 pandemic.

Diana Parusheva-Lowery, Head of Public Policy and Sustainable Finance at the Asia Securities Industry & Financial Markets Association in Hong Kong, highlighted that a key question on everyone's minds when they visit Hong Kong is how the Chinese economy is performing and the potential implications.

According to a report from Reuters, the Hong Kong Stock Exchange currently ranks as the 11th-largest venue for initial public offerings this year, with only $2.7 billion raised through the third quarter.

This pales in comparison to its dominant position in most of the last decade. Official data indicates that the territory's assets under management declined by 14% in 2022.

Trading volumes have also dwindled as foreign investors reduce their exposure to a China they view as increasingly isolated due to opaque policies, challenges in the property sector, and crackdowns on private enterprise.

Chris Beddor, Deputy China Research Director at Gavekal Dragonomics based in Hong Kong, noted that the structural economic slowdown in China, concerns about the future of U.S.-China relations, and questions about whether private mainland investment now prefers Singapore have not changed significantly.

These are issues that senior figures in the financial sector are keenly aware of, even if they do not openly discuss them.