Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Dollar Slips Near Two-Month Low as Markets Await Key Jobs Data and Central Bank Decisions 
New Zealand Budget Outlook Shows Prolonged Deficits Despite Economic Recovery Hopes 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Asian Currencies Trade Sideways as Dollar Weakens Ahead of Key U.S. Data 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Wall Street Futures Slip as Tech Stocks Struggle Ahead of Key US Economic Data 
Maldives Shifts Debt Management Strategy Amid Concerns of Default
The Maldives has decided to "phase out" its engagement with U.S. firm Centerview Partners regarding debt matters, focusing instead on managing debt repayments through direct negotiations with key partners like India and China, according to Deputy Finance Minister Hassan Miras.
Concerns have arisen over the nation’s dwindling foreign currency reserves, leading to fears that the Maldives could be the first country to default on Islamic sovereign debt. A significant $500 million sukuk is set to mature in 2026. Miras stated that while Centerview was initially engaged to analyze the debt portfolio, the government is now concentrating on bilateral debt management.
Positive responses from bilateral partners have been noted, particularly with China, which has approved refinancing for previous debts. Additionally, the Maldives is in discussions with multilateral partners to secure further funding. These initiatives will feature appropriate fiscal adjustments in the upcoming budget, scheduled for release in November.
The World Bank reports that the Maldives' total public and publicly guaranteed debt reached $8.2 billion, constituting 116% of its GDP in the first quarter of this year. External debt is a significant concern, with substantial amounts owed to China and India.
Recent financial cooperation agreements with Beijing and India's subscription to a $50 million Treasury bill, along with approved currency swap deals exceeding $750 million, are steps toward alleviating investor concerns. However, Fitch Ratings warns that without significant policy changes, the nation may continue to face medium-term economic pressures due to its high debt levels and low foreign reserves.
