As the Lunar New Year begins, we are making a pivot.
After speaking to many of you over the last week, the feedback was clear: you don't need a magazine; you need a briefing.
So we have stripped away the lifestyle and culture content to double down on what matters: Money, Power, and Visas. No noise. Just the market signals you need to make decisions for yourself in a Western-centric world.
Where did the other sections go?
For the Beauty Industry: Our coverage of the $30B skin of color market has graduated to Skin by TBS. This is now a dedicated trade briefing for founders and investors tracking deal flow, R&D, and supply chains in the Global Majority beauty ecosystem. Our new update is launching next Monday. Sign up here.
For Lifestyle & Culture: Miss the fashion & travel edits? We are exploring a dedicated "Sunday Magazine" to house these stories. Reply "LIFE" to vote for it (and get on the waitlist).
Welcome to the new Wire.
Warm wishes,
Deepa
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Macro Lens
The Hard Power Pivot
The era of "values-based" diplomacy is dead. The era of the "Transaction" has arrived.
Across three continents this week, we are seeing the US abandon soft power for hard assets. In Venezuela, Washington is explicitly managing oil sales to fund reconstruction. In Africa, it is aggressively countering China by locking down critical mineral supply chains in the DRC and Guinea. In the Middle East, it is negotiating with Iran while simultaneously parking a second aircraft carrier off the coast.
The Signal? The Global South is no longer a battleground for ideology; it is a marketplace for resources. The great powers are not looking for allies; they are looking for inventory. For the borderless operator, this means volatility in commodity-rich nations (Guinea, DRC, Venezuela) and opportunity for those who can navigate the new, transactional reality.
The Big Story
Bangladesh Gets a Reset
The News: Tarique Rahman has been sworn in as Prime Minister, ending 18 months of caretaker rule and returning the Bangladesh Nationalist Party (BNP) to power after two decades in the wilderness. (More)
The Details:
The Mandate: The BNP secured a two-thirds majority in the first election since the 2024 student-led uprising.
The Pivot: Rahman inherits a fragile economy and a tricky geopolitical map. He must balance historical ties with Pakistan and deepening relations with China against a wary India.
Why it Matters:
Stability vs. Chaos: This is the test case for post-uprising governance. Can Rahman deliver the reforms promised to the students without alienating the establishment?
Regional Balance: A tilt away from New Delhi changes the security architecture of South Asia, potentially opening new doors for Chinese infrastructure capital.
The TBS Take: This isn't just a change of guard; it is a change of patrons. Watch the infrastructure contracts in Q3—if Indian firms get replaced by Chinese or Turkish ones, you'll know exactly where Dhaka's loyalty lies.
Business & Tech
The AI Sovereign Bet: India is making its move to own the "brain" of the future. The Adani Group pledged $100 billion over the next decade to build green data centers and sovereign AI infrastructure. This is part of a broader national surge expecting $200 billion in AI investment within two years. (More)
TBS Take: This is the "infrastructure play" of the decade. Power and Data are the new Road and Rail.
The Detroit of Africa: The torch has passed. Morocco has officially overtaken South Africa as the continent's top vehicle producer, hitting one million units annually. (More)
The Shift: While South Africa struggles with logistics and grid instability, Morocco's aggressive industrial policy and proximity to Europe have won over Stellantis and Renault.
The Orbital Clash: Elon Musk has a new rival. China's state-backed Shanghai Spacecom (SSST) is launching a mega-constellation of LEO satellites to challenge Starlink. (More)
The Stakes: This is a race for the digital infrastructure of the Global South. Expect price wars on internet access in remote regions of Africa and SE Asia soon.
The Chessboard (Geopolitics)
US Pivots on Syria: In a major strategic U-turn, Washington confirmed it is working with the new Syrian government under President Ahmad al-Sharaa to prevent "disintegration". Translation: The US prefers a stable adversary to an ISIS resurgence. (More)
Jordan's Red Line: Tensions are spiking as Israel moves to register West Bank land as "state land." Jordan views this as a "silent transfer" threat and is threatening to declare the Jordan Valley a closed military zone. (More)
Minerals vs. Sovereignty: The African Union summit highlighted a new "recalibration." Leaders are forcing the US, China, and Gulf states to bid against each other, refusing to be locked into exclusive alliances. (More)
Opportunity Engine
Visa Watch
Visa (UK): The ballot for the India Young Professionals Scheme is set to open soon, offering Indian nationals a pathway to live and work in the UK. (Apply Here)
EU: Parliament approved "Rwanda-style" asylum processing, allowing migrants to be sent to "safe third countries" outside the bloc starting June 2026. (More)
The TBS Take: This turns migration into a transaction. Watch for cash-strapped nations in North Africa and the Balkans to bid for these "hosting" contracts. For the Global South, hosting refugees is no longer just a burden—it is now a high-leverage way to secure EU funding and trade concessions.
Capital & Tenders
Kenya Airways (Nairobi): The National Treasury is hunting for a strategic investor to inject $1.2B - $2B into the national carrier to convert debt to equity. (More)
GovTech (Rwanda): A new procurement policy allows the government to fund startups directly for innovation projects, with founders retaining their IP. This is a rare chance to sell B2G without losing your tech. (More)
Data Trends
Ethiopia Unlocks
The National Bank of Ethiopia has removed most foreign exchange restrictions, allowing exporters to retain 100% of their proceeds. (More)
The Trend: While Egypt cuts rates to stimulate growth , Malawi is seeing a shadow devaluation of 7.5%. Ethiopia is choosing the path of liberalization to attract FDI.
Deep Dives
The Daily Star: Why the lack of women in Bangladesh's Jamaat-e-Islami isn't a strategy, but a doctrine. [Read here]
Daily Guide Network: Seven years later, Ghana's Right to Information commission is an operational tragedy—unanswered phones and ignored emails. [Read here]
El Ciudadano: Temuco, Chile, celebrates its 145th anniversary while ignoring the history of Mapuche dispossession beneath its streets. [Read here]
