Yemen Says Houthis Hit Presidential Palace, EU-Gulf Summit in Saudi Arabia Postponed

Yemen says the Houthis have struck the presidential palace in Aden, while the EU and Gulf states postpone their summit in Saudi Arabia amid continuing attacks. Donald Trump also raises the possibility of a future strike on Iran using the “Mother of All Bombs.”
The war is reshaping Gulf finances, cutting the region’s overseas investment pool by two-thirds as governments direct more spending at home. Higher energy prices cushion some economies, while Oman emerges as a relative beneficiary and Bahrain and Iraq face mounting pressure. Bahrain’s debt stands at around 160% of GDP, reserves are under strain and borrowing costs reach levels associated with its 2018 bailout, when Kuwait, Saudi Arabia and the UAE pledged $10 billion in support.
At the IMF meetings in Bangkok, Kevin Warsh says the global economy is proving more resilient than expected and that a massive US investment surge extends beyond AI. A hearing for the Fed’s productivity task force is scheduled for Nov. 16. His comments come as US inflation exceeds expectations and September producer-price inflation reaches a four-year high on rising energy costs.
The S&P 500 ends a three-day losing streak, Asian stocks advance on technology gains and US Treasuries pare their gains. South African Reserve Bank Governor Lesetja Kganyago discusses the country’s inflation target in an interview with Bloomberg.
MSCI considers a downgrade that could remove Indonesia from its global indexes, prompting scrutiny from the financial regulator and calls for clarity from the stock exchange. Turkey also faces a warning that its fund crisis could put its emerging-market status at risk.
Europe prepares new trade powers aimed at China, while Chinese state media warns against “new tricks” following an electric-vehicle agreement. China’s foreign minister also urges a two-state solution in talks with Israel’s president.
In Africa, Dangote seeks broader access to its planned IPO through a visit to Egypt, with an expanded offering potentially raising $2 billion. Richemont and Signet are reportedly in talks to join a bidder for De Beers.
Elsewhere, the EU is said to be fast-tracking antitrust approval for a SpaceX rival, Tesla demonstrates a flying car, and KFC switches from Pepsi to Coca-Cola in the US. Guest includes Parisha Saimbi, BNP Paribas EM Asia FXLM Strategist and Lesetja Kganyago, South African Reserve Bank Governor.

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
00:01:34 – Warsh Sees a Stronger Economy Ahead
00:02:34 – Fed in Focus as US Inflation Tops Estimates
00:07:01 – Parisha Saimbi, BNP Paribas EM Asia FXLM Strategist
00:11:12 – MSCI Weighs Indonesia Downgrade and Global Index Removal
00:15:00 – EU Said to Prepare New China Trade Powers
00:26:50 – Lesetja Kganyago, South African Reserve Bank Governor
00:34:05 – War Cuts Gulf Investment Pool by Two-Thirds
00:39:08 – Dangote Pushes Africa IPO Access With Egypt Visit
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