Trump Rules Out Iran Strikes Before Midterms, Oil Rises as Hormuz Attacks Continue

Oil rises as attacks in the Strait of Hormuz continue, even as Donald Trump says the US will not attack Iran before the midterm elections. Asian stocks slip amid US tech jitters, while Bahrain’s borrowing costs surge to a six-year high.
OpenAI expects annualized revenue to reach $70 billion by the end of 2026, up from a $50 billion run rate in September, as it discusses a new funding round of more than $30 billion.
France’s fiscal concerns remain in focus, with investors watching for potential contagion to Italian bond spreads and the euro.
Ecobank opens its first office in Beijing as commercial ties between China and Africa deepen. Meanwhile, SpaceX announces a spectrum deal for Starlink’s mobile-phone service, and Starbucks is reported to have explored a takeover of Chipotle.
The US tightens restrictions on tech visas, barring Microsoft and Indian firms from a key visa program that has served as an important talent pipeline for Silicon Valley and Wall Street.
Airtel Money begins trading in London in what could be the city’s largest IPO in five years, while Uzum’s investors include Tencent and Oman’s sovereign wealth fund.
And SoftBank is seeking to raise as much as $100 billion from Gulf investors. Guest includes Kevin Thozet, Carmignac Portfolio Advisor & Investment Committee Member, Jeremy Awori, Ecobank CEO, Zeina Rizk, Amwal Capital Partners Fixed Income Co-Head and Nikolay Seleznev, Uzum Co-Founder & Chief Strategy Officer.

Horizons Middle East & Africa is your daily spotlight on one of the world’s fastest-growing regions. Live from Dubai, we bring you the latest global markets and analysis, plus news-making interviews, with a special focus on MEA. All that and more, as you head to the office in the Gulf, pause for lunch in Hong Kong, or start your day in London or Johannesburg.

Chapters:
00:00:00 – Introduction
00:05:10 – OpenAI Expects $70B in Annualized Revenue by End of 2026
00:06:42 – Kevin Thozet, Carmignac Portfolio Advisor & Investment Committee Member
00:13:22 – Trump Says US Won’t Attack Iran Before Midterm Elections
00:16:03 – Jeremy Awori, Ecobank CEO
00:27:24 – Zeina Rizk, Amwal Capital Partners Fixed Income Co-Head
00:34:02 – US Targets Tech Visas, Bars Microsoft and Indian Firms From Visa Program
00:37:44 – Nikolay Seleznev, Uzum Co-Founder & Chief Strategy Officer
00:41:34 – Airtel Money to Begin Trading in London
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