The Thai baht rallied after pro-democracy parties emerged as the biggest winners in Sunday’s election, while stocks linked to some of the nation’s billionaires fell on concern that a new government will introduce more industry competition.
Turkey’s markets slumped as the nation appears headed for a runoff election, surprising investors who were betting for an end to President Recep Tayyip Erdogan’s two-decade rule and his unconventional economic path.
Pita Limjaroenrat rode a wave of support for his pro-democracy party’s call to reduce the influence of military in politics and changes to a controversial law shielding the monarchy from public criticism. On Monday he emerged as the favorite to become the nation’s next prime minister.
Russian Prime Minister Mikhail Mishustin will lead a government delegation to China next week to attend a business forum along with sanctioned tycoons as Moscow leans on Beijing to help it withstand economic pressure over the Kremlin’s war in Ukraine.
UK Home Secretary Suella Braverman is set to ramp up pressure on Prime Minister Rishi Sunak to slash immigration, highlighting divisions within the ruling Conservative Party after a bruising local election result.
French President Emmanuel Macron said he wanted to keep cutting taxes on businesses and the middle class despite recent warnings about the state of public finances.
Indonesia’s President Joko Widodo threatened to remove ministers if they let the elections hinder their work.
China has sentenced a 78-year-old American to life in prison on spying charges, as the world’s No. 2 economy prioritizes eliminating national security risks.
The European Union should strengthen its emergency rules so that citizens don’t bear the brunt of surging electricity prices during a crisis, said a key lawmaker who’s pushing for more market intervention in upcoming reforms.
The UK and Switzerland are kicking off negotiations for a new free trade agreement to boost the exchange of services between the two countries post-Brexit.
