Canadian officials said Tuesday they would match new tariffs imposed by President Donald Trump “dollar-for-dollar, rate-for-rate.” Canada will double its existing counter-tariffs on US steel and aluminum to 50% and levy new 15% to 50% tariffs on about $20 million worth of American products.
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The Iran war has transformed how cooking gas reaches millions across Asia and Africa. India has kept LPG flowing by redrawing supply routes and boosting domestic output, but the disruption has come at a cost. Akriti Sharma explains.

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Iran and Oman move toward a new arrangement for shipping through the Strait of Hormuz, with the IRGC saying the two countries have agreed to share fees. Tehran says US actions are delaying the process, while US allies question whether the Strait is fully clear of mines. Trump says the mines have been removed and Hormuz is open.
Oil remains under pressure as markets assess the outlook for Hormuz and global supply.
Nvidia reports $89 billion in data-center revenue, ahead of expectations, while its CFO sees revenue growth of around 70% into fiscal 2028. Supply remains a key constraint, and margins are expected to settle around 72% to 73% as higher memory costs weigh on profitability. Jensen Huang says the AI infrastructure buildout remains at full speed.
Asian chip stocks gain following Nvidia’s outlook, with SK Hynix and Samsung leading the advance. South Korea raises its policy rate to 3% from 2.75% as inflation risks build, while markets prepare for central bankers to discuss inflation at Jackson Hole and watch Warsh’s first speech there. The BOJ also keeps the possibility of a September rate hike open, while Australian bonds fall as RBA hike expectations increase.
Meta agrees to pay up to $18 billion to settle social-media claims. Salesforce rises on its growth outlook and partnership with Anthropic, while Anthropic plans to spend $45 billion on AI computing capacity from Nscale. China’s Z.AI develops its OX Alpha model, and MiniMax reports a sharp increase in first-half sales.
Saudi Arabia pushes deeper capital-market reforms, focusing on derivatives, liquidity and improving market infrastructure as part of Vision 2030. Tadawul gains following the latest measures.
CNOOC reports higher first-half profit as oil prices benefit from the Iran conflict, while Shein prepares a $1.7 billion Hong Kong share sale.
Russia signals a possible escalation in Ukraine as Moscow sees peace talks at a dead end. Flooding along the Nepal-China border leaves around 100 people dead.
In Africa, Next Africa sits down with the Dangote family to discuss plans for an IPO of the refinery arm, the expansion of the family office in 2027 and its strategy for building businesses and investments across generations. Guests include Rajeev Sibal, Morgan Stanley Senior Global Economist, Maribel Lopez, Lopez Research Founder & Enterprise AI Lead and Eric Swats, Rascal Investment Bank Senior Executive 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
00:04:56 – Nvidia Sees Strong Revenue Growth
00:09:57 – Iran, Oman Agree to Share Hormuz Fees
00:17:26 – Rajeev Sibal, Morgan Stanley Senior Global Economist
00:28:27 – Maribel Lopez, Lopez Research Founder & Enterprise AI Lead
00:34:36 – Eric Swats, Rascal Investment Bank Senior Executive Officer
00:41:46 – Next Africa Sits Down With Dangote Family
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AI Mode in Google Search is now available to all US users. It’s just one of the AI announcements from the company’s annual Google I/O conference this week. Jackie Davalos shares the key takeaways from the event http://bloom.bg/4doXUUB

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US equity futures waver as markets digest Fed Chair Warsh’s Jackson Hole speech. Oil jumps as the US and Iran exchange strikes for the first time in about a month. G-20 finance ministers and central bank governors gather in North Carolina for a multiday summit. George Goncalves of MUFG sees softer jobs report before the Fed’s next policy meeting.

Chapters:
00:00:00 – Bloomberg Brief begins
00:00:36 – Asia Markets
00:01:47 – Europe, Yields & U.S. Futures
00:04:04 – Fed Chair Warsh at Jackson Hole
00:07:12 – U.S.–Iran Strikes & Oil Reaction
00:15:05 – Top Terminal Stories
00:18:26 – Venezuela Oil Outlook
00:20:30 – Front-Page News
00:21:15 – Market Reset
00:23:27 – MUFG on Fed Timing & Inflation
00:27:22 – Why Long-End Treasury Yields Are Capped
00:29:31 – Warsh on AI & Productivity
00:30:27 – Nepal Floods, Shein & LIV Golf
00:34:54 – Trump & the Midterms
00:36:26 – Tech: Amazon, Apple, Shein & Broadcom
00:41:17 – Week Ahead: Earnings, PMI & Payroll
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