Eisenkot Wins 67 Backers as Israel Awaits Government Decision, Oil Slides on Iran Talks

The global AI selloff deepens, dragging Asian technology shares lower and sending Treasuries sharply higher. The Nasdaq 100 enters bear-market territory after losing about $2.3 trillion in value, while the Nikkei also falls into a bear market and the S&P 500 posts its steepest drop since April 2025. Jefferies Chief Economist Mohit Kumar says the Democratic sweep should not derail the AI investment story and sees opportunities to add to emerging-market exposure.
Oil is heading for its biggest weekly loss since 2020 as traders weigh renewed diplomacy with Iran. Oman and Iran discuss efforts to restart Hormuz talks, while Aramco cuts its Asia crude price as competition for market share intensifies. Middle East oil flows are now close to prewar levels.
In Israel, President Isaac Herzog is expected to decide Sunday who will receive the mandate to form a government. The main Arab list says it will back Gadi Eisenkot, while the election committee has certified the results.
In the US, Marco Rubio is reportedly considering leaving the Trump administration, while Pete Hegseth could face an impeachment vote as early as next week.
France sees another major wave of protests amid the budget deadlock, while Alpha Dhabi reports higher nine-month revenue and plans a $1 billion investment in Alpha Wave III alongside further activity in listed assets and private credit.
The Bank of England delivers its first rate hike since 2023 and signals a more hawkish stance. Governor Andrew Bailey says another increase is more likely than not if the war persists and inflation risks remain tilted to the upside.
In South Africa, the ANC is on course to lose support in municipal elections, while President Cyril Ramaphosa looks to reset relations with the US. Pretoria also warns that losing AGOA access could hurt key export sectors and add pressure to trade-sensitive industries. Guests includes Mohit Kumar, Jefferies Chief Economist, Derek Nicholson, Alpha Dhabi Chief Strategist & Investor Relations Officer and Chiedza Madzima, BMI – Fitch Solutions Global Head of Operational Risk Research.

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
00:06:12 – Mohit Kumar, Jefferies Chief Economist
00:12:38 – Brent Set for Biggest Weekly Loss Since 2020
00:16:45 – Israel’s Herzog to Decide Sunday Who Will Try to Form Government
00:26:12 – Derek Nicholson, Alpha Dhabi Chief Strategist & Investor Relations Officer
00:34:03 – Andrew Bailey, Bank of England Governor
00:39:49 – Chiedza Madzima, BMI – Fitch Solutions Global Head of Operational Risk Research
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