Good Morning, it's Tuesday, May 13. Humanoid robots in China are running marathons, Nissan is having big layoffs and you now have a chance to light up the Burj Khalifa.
What Matters Today
Humanoid Robots in China
In order to address labour shortages, China is speeding up the development of AI-powered humanoid robots. Local reporters say this is a sign of China’s long-term ambitions laid out in the decade-old “Made in China 2025” Initiative (which focused on high-tech sectors like robotics) paying off. These robots are transforming manufacturing by completing tasks like folding a T-shirt, making a sandwich, and opening doors. They are also present in other industries as robot tea pickers, farming, and even running marathons. Further, there are breakthroughs in developing the “robot brain”, which will help the robots become productive and self-taught workers who can truly revolutionise China’s manufacturing capabilities further.
Nissan Cuts 15% of Workforce
Nissan has cut another 10,000 jobs, bringing its total job cuts to 20,000 workers, including its shutdown of seven factories. The firm has seen trouble in key markets such as China, where competition with homegrown brands like BYD has been stiff, and in the US, where inflation and high interest rates have had an impact. These have all impacted earnings, and merger talks with Honda and Mitsubishi also collapsed in February.
Kenya’s Billions in Debt Trigger IMF Action
The IMF is set to review Kenya’s debt, given that the country must raise $26 billion to repay maturing loans and needs about $1.5billion yearly solely for interest on external debt. The IMF and Kenya are on course to set up a new lending program and abandon the last one. Aside from debt review, the IMF also plans to launch an investigation into the impact of corruption on government funds. The Treasury Cabinet Secretary, John Mbadi, says the country is still on track to be debt-free by 2032.
Currency Tracker
Tariff Pause Optimism Fizzles: The market surge from yesterday's US-China tariff pause has dropped, as Euro stocks only went up 0.2%, and US futures fell 0.4% (Read more).
Argentina’s Inflation Slows Down: Argentina’s monthly inflation rate has dropped from 3.7% in March to 3.1% in April, increasing hopes for a further decrease in May (Read more).
Bank of Mexico Cuts Key Rate: According to a new poll, economists and analysts speculate that Mexico’s Central Bank, or Banxico, will cut its benchmark interest rate by 50 basis points, taking it to 8.5% (Read more).
Tech
Dubai Government Fees Can be Paid in Crypto: Dubai Finance, now partnering with Crypto.com, has enabled citizens to pay their government service fees using cryptocurrencies. This move is part of Dubai’s strategy to create a digital, cashless society (Read more).
Samsung Launches Slimmest Smartphone: Samsung Electronics has just launched its slimmest smartphone yet, the S25 Edge, which comes with several AI functionalities. The launch is said to pre-empt Apple’s thinner iPhone, which could be launching later in the year (Learn more).
600 5G Sites in Zambia: Zambian telecoms company Zamtel plans to build 600 high-speed 4G/5G sites to improve internet access and connectivity across Zambia, starting with the fast-growing area of Chalala (Learn more).
Saudi Arabia’s New AI Venture: Saudi Arabia’s Public Investment Fund (PIF) has just launched HUMAIN, a new AI company that will focus on developing AI infrastructure in the country (Read more).
Business & Finance
Sierra Leone’s Largest Diamond Miner Shuts Down: Koidu Limited, Sierra Leone’s largest diamond miner, has shut down its operations, laying off nearly its entire local workforce of over 1,000 employees after strikes over poor pay and inadequate toilet facilities (Read more).
Exxaro to Acquire Manganese Mines: South Africa’s biggest coal miner, Exxaro Resources, is acquiring South Africa’s largest manganese mines for R11.67 billion ($640 million). South Africa is also the world’s largest mid- to high-grade manganese ore exporter (Read more).
China Offers CELAC New Credit Line: China is advancing its reach in the Caribbean and Latin America (CELAC) with a new $9 billion credit line, amidst other fresh investments in the region (Learn more).
India’s Paint Wars: India’s top paint maker, Asian Paints’ market share has dropped from 59% to 52% since Birla Opus’ launch. Birla, which is the paint arm of Grasim Industries, gained market share due to its discounts, advertising, and hiring mid-level managers from Asian Paints (Learn more).
Trade
Rains Threaten Ivory Coast’s Cocoa: Ivorian farmers are hoping for heavier rains in the coming months as less-than-average rainfall threatens the quality and quantity of cocoa produced this year. Ivory Coast is the world’s largest producer of cocoa (Read more).
Brazil-China Fuel Deal: China’s Envision Energy has made a $1 billion investment in Brazil’s fuel space to produce sustainable aviation fuel. The Brazilian government is also seeking Chinese investments in Brazil’s data centers (Read more).
Colombia on China’s New Silk Road: Colombian President Gustavo Petro has announced that Colombia will join China’s Belt and Road Initiative, also known as the New Silk Road. The initiative is an ambitious infrastructural project seeking to create new trade routes between China and other countries (Read more).
Visas & Immigration
Philippines New Nomad Visa: A digital nomad visa has been rolled out, allowing foreign nationals who work remotely to stay in the country for a maximum of a year. Applicants must be at least 18 and show proof of income earned outside the Philippines (Read more).
UAE Golden Visas for Nurses: The UAE has announced that nursing staff who have served for more than 15 years and are employed with Dubai Health will have access to golden visas (Read more).
Trump-o-meter
Trump May Ease Sanctions on Syria: President Trump has said that he may ease US sanctions on Syria, in an attempt to “give them a fresh start”. Economic recovery has not been easy for the war-torn country, making the removal of sanctions particularly appealing (Learn more).
The Pentagon Halts Gender-Affirming Care: A new memo reveals that the Pentagon has halted gender-affirming care for its transgender troops. This includes halting new hormone treatments and gender-affirming surgeries, and is in line with President Trump’s plans to remove transgender people from military service (Read more).
Living Better
Nerdy Fashion is In
From the office siren to the preppy style aesthetic, it appears that geek is now chic. The goal is to look scholarly, well-read, and smart, with style essentials such as bayonetta-style eyewear, plaid clothes, and monochrome. High fashion brands such as Miu Miu and Thom Browne are also capitalizing on our love for nerdy fashion and are great reference points if you’d like to indulge (See more).
Select Art With Deeper Themes
Sometimes, selecting art for our home can be confusing: should you go for a bright colour, something abstract, or a nature scene? Instead, focus on art with deeper themes and personal meaning for you, which will always be timeless. For example, Congolese artist Zemba Luzamba's works have been inspired by the creative elegance of the Congo's 'sapeurs', a fashion subculture whose elegant dressing is an act of social resistance. His exhibition is currently showing at London's Kristin Hjellegjerde Gallery, and you can look through his art for inspiration.
Sports
Smart Reads
In Japan, salarymen in suits are acrobatic cheerleaders on the weekends (Read more).
Why female military officers leading the charge on India’s ‘Operation Sindoor’ is not a victory for feminism (Read more).
Reggae’s transformative role in São Luís, or the Brazilian Jamaica (Read more).
Unsurprisingly, this new study says your scent does help you make friends (Learn more).
This & That
Your art could light up the Burj Khalifa if you win this competition (Learn more).
Tobago’s coral reefs are at risk of contracting Stony Coral Tissue Loss Disease (Read more).
There’s a new fine for installing unauthorized satellite dishes in Abu Dhabi (Read more).
Thanks to overfishing, fishermen are leaving Senegal and moving to Spain (Read more).
