UAE Fends Off Iran Attack as Conflict Escalates | Horizons Middle East & Africa 9/1/2026
The UAE says it fended off an Iranian attack as regional tensions escalate. A UAE adviser warns the current “neither war nor peace” situation is unsustainable, while US strikes hit an island in Hormuz. Oil rises as crude exports continue through the Strait despite missile threats to tankers.
Shein debuts in Hong Kong after its $1.7 billion IPO, with shares priced at HK$48.56 and a $26 billion valuation. Tariffs, Temu competition and a sharp fall in private-market valuation weigh on the company.
Global bonds sell off, with yields hitting their highest since 2008. Australia’s 10-year yield reaches its highest since 2011, Japan’s hits 3% for the first time since 1996, and Bessent calls for Japanese rate hikes. Katayama says US-Japan yen cooperation continues, while US 30-year bonds post their worst stretch since 2006.
Nvidia plans a $3.5 billion investment in MediaTek, with Jensen Huang calling the partnership crucial to accelerating AI development.
Trump dismisses the renewed Iran clashes as a “little war,” while Iran’s foreign minister calls for a return to the memorandum of understanding. Modi urges Putin to end the Ukraine war, while Bessent meets Russia’s finance chief at the G20.
Nepal’s floods leave more than 955 dead and almost 4,500 missing.
Saudi Arabia faces rising financial pressure, reportedly seeking $8 billion in loans as the war disrupts trade. Its economy suffers its sharpest contraction since the pandemic, while the second-quarter budget deficit reaches $9.1 billion.
Goldman Sachs Vice Chairman and former Dallas Fed President Rob Kaplan favors a September rate hike, sees the real neutral rate at 0.75%-1%, and says the Fed may be 50 basis points from neutral. He warns fiscal deficits matter for markets, while AI infrastructure could fuel inflation but adoption could be disinflationary.
The US Army secretary, Driscoll, is leaving his post. Trump announces drug-pricing deals, while the Supreme Court allows construction of the White House ballroom to continue. Lionel Messi announces his international retirement.
Chapters:
00:00:00 – Introduction
00:04:36 – US, Iran Exchange First Strikes in Weeks
00:08:05 – Jensen Huang, Nvidia CEO
00:14:07 – Mahjabeen Zaman, ANZ FX Research Head
00:19:22 – India’s Modi Meets Putin in Kyrgyzstan
00:29:05 – Rachel Ziemba, Ziemba Insights Founder
00:37:05 – War Strains Saudi Finances
00:40:13 – Rob Kaplan, Goldman Sachs Vice Chairman & Former Dallas Fed President
00:44:02 – Messi announces international retirement
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