MEF BUSINESS NEWS 18 JUN 2025 Oil prices are hovering near a five-month high as fears grow that the U.S. may directly enter the escalating Middle East conflict. The spike follows President Trump’s demand for Iran’s surrender and threats of a targeted strike on its leadership. If the U.S. joins Israel’s military campaign, energy markets could face prolonged volatility, fueling inflation and rattling global equities. West Texas crude surged over 10% in a week, with Asian markets mixed and Wall Street in retreat. Meanwhile, weak U.S. economic data — retail sales declined for the second mont in May — and Fed rate uncertainty — the monetary policy committee is meeting today and will decide tomorrow — are compounding investor anxiety. —————————————- Bank of America’s latest fund manager survey shows 54% of asset managers expect global stocks to outperform over the next five years, while only 23% favor U.S. equities—signaling a shift away from U.S. market dominance. Just 13% see gold and 5% bonds as top performers. —————————————- European finance officials are pitching their bond markets as a safer alternative to volatile U.S. assets, hoping to lure investors spooked by Trump-era economic unpredictability — Bloomberg reports. They argue that fiscal discipline and political stability make Europe an “oasis” for global capital. If successful, the shift could weaken the dollar’s dominance, lower European borrowing costs, and boost the euro’s global standing. The euro is already up 11% this year, while U.S. policy uncertainty and underperforming Treasuries are pushing investors to explore more stable ground across the Atlantic. ——————————————— Just in: UK inflation eased slightly in May, with the consumer price index rising 3.4% year-on-year, down from 3.5% in April—right on target with economists’ forecasts. The core inflation rate, which excludes volatile energy and food prices, also dipped to 3.5% from 3.8%. The Bank of England’s inflation target is at 2%, so while inflation is slowing, it’s still above the target. ——————————————— The G-7 summit in Canada exposed deep rifts, with Donald Trump abandoning talks early and blocking consensus on trade, sanctions, and Middle East strategy. That disunity has real economic consequences: it weakens coordinated action on tariffs, threatens global investor confidence, and undermines stable trade flows — analysts warn. With Trump walking away from deals with Japan and the EU, and allies improvising without U.S. leadership, the economic future of the G-7 may shift toward a Europe-led axis — raising questions about the dollar’s role and the global policy response to rising geopolitical risks. ————————————————- Meanwhile, Trump is ramping up his trade war with a sweeping use of national security powers to impose tariffs on everything from semiconductors to dishwashers. These so-called Section 232 tariffs could hit nearly every major import, effectively creating a global tariff wall. The broader scope — now targeting finished goods — could fuel inflation and disrupt supply chains. With uncertainty clouding trade talks and legal challenges mounting, companies and allies are left guessing how far the president will go to reshape global commerce in the name of security. ————————————————— And the Trump family expands its real estate deals with India’s richest man – nothing says ‘global leader’ like a little extra bling on the side The Trump Organization has ramped up its foreign licensing and development fees fivefold in 2024, fueled by new projects including a $10 million deal with Mukesh Ambani’s Reliance conglomerate in Mumbai — the Wall Street Journal reports. The move signals a significant push by the Trump family into global real estate markets amid the president’s term, breaking from past self-imposed limits on foreign business. Other key deals include projects in Saudi Arabia, Dubai, and Vietnam, reflecting the Trump brand’s broadening footprint – and raising fresh concerns about potential conflicts of interest in the intersection of politics and business. —— —— MEF MOBILE NEWS 18 JUN 2025 Donald Trump has extended the deadline for ByteDance to sell TikTok’s US operations by another 90 days, allowing the app to keep running while deal talks continue. The move aims to secure American user data amid ongoing US-China tensions around tech and trade. The extension buys time for a complex sale that requires both an American buyer and Beijing’s approval, which has been stalled partly due to the broader tariff war. Looking ahead, this delay keeps TikTok alive in the US mobile ecosystem, but uncertainty remains over ownership and data security—key issues for regulators and users alike. The administration has considered bids involving Oracle and private equity, but challenges persist as China resists approval amid ongoing trade disputes. ———————————— Nintendo’s Switch 2 is flying off shelves with over 3.5 million units sold in just four days, outperforming its predecessor’s launch. Thesurge comes as the gaming sector becomes a safe haven amid US-Japan tariff disputes, highlighting mobile and handheld gaming’s resilience in global trade tensions. Looking ahead, this strong demand could accelerate development of mobile-optimized games and accessories, reinforcing Nintendo’s leadership in portable entertainment. Alongside Nintendo, other gaming giants like Square Enix and Bandai Namco are also seeing gains, reflecting broad investor confidence in gaming’s growing role in the mobile ecosystem. ————————————— The GSMA and TM Forum are teaming up to simplify certification of Open Gateway APIs, aiming to boost the global telecom API economy. By aligning technical standards with business frameworks, they’re cutting complexity and cost for developers and operators integrating mobile network features like identity verification and carrier billing. This step could unlock new revenue streams for telecoms and help them better compete with cloud giants. However, challenges remain around pricing models and market adoption—telcos must prove these APIs can be commercially viable and widely available. From MEF’s perspective, this partnership is a crucial first step but far from the finish line. Operators need to commit to real API availability, fair pricing, and resolve regulatory and operational issues. MEF invites industry members to join the ongoing debate on pricing, use cases, and monetisation to help shape the future of telecom APIs and ensure sustainable growth in the mobile ecosystem. ————————————- Telecom CEOs speaking at Digital Transformation World in Copenhagen are urging the industry to fully embrace artificial intelligence or risk falling behind. Vikram Sinha of Indosat Ooredoo Hutchison highlights AI’s real impact, like protecting new internet users from scams, and stresses it must be accessible to everyone, not just high-end customers. Meanwhile, Nuuday’s CEO Christian Thrane points to AI tools speeding up customer service and securing networks but says collaboration and standardized network APIs are key to unlocking AI’s full potential. The AI shift will reshape the mobile ecosystem, creating smarter services and new revenue—but only if operators build trust and work together. ————————————- The U.S. Federal Communications Commission says China Mobile could face fines for not cooperating with its investigation into whether the company is evading American restrictions. The FCC has already barred China Mobile and other Chinese telecom firms from operating in the U.S. due to national security concerns. The probe involves nine companies, including Huawei and ZTE, reflecting ongoing tensions around foreign telecom firms and U.S. security policies. The outcome could tighten regulatory controls and impact global telecom partnerships, especially involving China. ———————————— China’s mobile operators cut their operational emissions for the first time in 2024, even as mobile data traffic nearly quadrupled since 2019. The improvement reflects major efficiency gains and increased use of renewable energy across the industry, signaling a shift toward greener mobile networks. This progress is crucial as China leads in 5G connections, with over 1 billion active users driving demand. This sets a precedent for global mobile ecosystems to pursue ambitious net-zero goals, but experts warn this initial drop must accelerate to meet targets by 2030. Operators and suppliers are increasingly adopting science-based climate commitments, reshaping the environmental impact of mobile infrastructure as data demand continues to grow. —— —— MEF TECH NEWS 18 JUN 2025 Taiwan has officially blacklisted China’s tech giants Huawei and Semiconductor Manufacturing International Corp., banning local firms from working with them without a license. This marks a sharp shift from Taiwan’s usual cross-Strait business openness and signals a tougher stance on China’s tech rise—backed by the US, which has been pushing Taiwan to tighten chip export controls. The move aims to limit China’s access to critical semiconductor technology amid escalating geopolitical tensions. Taiwan’s new leadership is focused on reducing economic dependence on China, even as Beijing warns against such actions. This marks a growing front in the global tech rivalry between the US, Taiwan, and China. ——————————— Elon Musk’s AI company xAI is close to securing $9.3 billion in combined debt and equity financing, despite recent tensions between Musk and Donald Trump. The deal includes over $5 billion in bonds and loans, anchored by a $1 billion commitment from investment group TPG Angelo Gordon, plus a planned $4.3 billion equity raise. The funding will help xAI build data centers to compete with rivals like OpenAI and Google. Musk’s xAI launched the chatbot Grok and merged with his social media company X earlier this year. While Musk’s changing relationship with Trump caused some investor hesitation, many see strong value in the deal, which aims to support xAI’s growth ambitions and projected earnings by 2029. ————————————- Spotify founder Daniel Ek is leading a €600 million investment round in Helsing, a German drone maker now valued at €12 billion, making it one of Europe’s top tech startups. Originally focused on AI software, Helsing is expanding into drones, aircraft, and submarines amid rising global defense spending and the war in Ukraine. The company has sold thousands of strike drones to Ukraine and holds contracts with several European countries. Ek says AI and autonomy are transforming modern warfare, with Helsing evolving from software to a full AI hardware and software company. Despite some backlash over his involvement, Ek is confident this investment is crucial for Europe’s future defense tech. ——————————————- OpenAI’s Sam Altman says Meta’s been throwing around signing bonuses up to $100 million to woo his staff—basically enough to make anyone consider a career change to “AI superstar.” But so far, OpenAI’s top talent isn’t biting. Meta’s Mark Zuckerberg is personally on the hunt for AI geniuses, even dropping $14.3 billion on Scale AI and poaching its CEO. Altman respects the hustle but jokes that Meta might be better at writing big checks than groundbreaking code — and maybe some folks just want to work for passion, not just paychecks that could buy a small — not even so small — island. —— ——

MEF BUSINESS NEWS 18 JUN 2025 Oil prices are hovering near a five-month high as fears grow that the U.S. may directly enter the escalating Middle East conflict. The spike follows President Trump’s demand for Iran’s surrender and threats of a targeted strike on its leadership. If the U.S. joins Israel’s military campaign, energy markets could face prolonged volatility, fueling inflation and rattling global equities. West Texas crude surged over 10% in a week, with Asian markets mixed and Wall Street in retreat. Meanwhile, weak U.S. economic data — retail sales declined for the second mont in May — and Fed rate uncertainty — the monetary policy committee is meeting today and will decide tomorrow — are compounding investor anxiety. —————————————- Bank of America’s latest fund manager survey shows 54% of asset managers expect global stocks to outperform over the next five years, while only 23% favor U.S. equities—signaling a shift away from U.S. market dominance. Just 13% see gold and 5% bonds as top performers. —————————————- European finance officials are pitching their bond markets as a safer alternative to volatile U.S. assets, hoping to lure investors spooked by Trump-era economic unpredictability — Bloomberg reports. They argue that fiscal discipline and political stability make Europe an “oasis” for global capital. If successful, the shift could weaken the dollar’s dominance, lower European borrowing costs, and boost the euro’s global standing. The euro is already up 11% this year, while U.S. policy uncertainty and underperforming Treasuries are pushing investors to explore more stable ground across the Atlantic. ——————————————— Just in: UK inflation eased slightly in May, with the consumer price index rising 3.4% year-on-year, down from 3.5% in April—right on target with economists’ forecasts. The core inflation rate, which excludes volatile energy and food prices, also dipped to 3.5% from 3.8%. The Bank of England’s inflation target is at 2%, so while inflation is slowing, it’s still above the target. ——————————————— The G-7 summit in Canada exposed deep rifts, with Donald Trump abandoning talks early and blocking consensus on trade, sanctions, and Middle East strategy. That disunity has real economic consequences: it weakens coordinated action on tariffs, threatens global investor confidence, and undermines stable trade flows — analysts warn. With Trump walking away from deals with Japan and the EU, and allies improvising without U.S. leadership, the economic future of the G-7 may shift toward a Europe-led axis — raising questions about the dollar’s role and the global policy response to rising geopolitical risks. ————————————————- Meanwhile, Trump is ramping up his trade war with a sweeping use of national security powers to impose tariffs on everything from semiconductors to dishwashers. These so-called Section 232 tariffs could hit nearly every major import, effectively creating a global tariff wall. The broader scope — now targeting finished goods — could fuel inflation and disrupt supply chains. With uncertainty clouding trade talks and legal challenges mounting, companies and allies are left guessing how far the president will go to reshape global commerce in the name of security. ————————————————— And the Trump family expands its real estate deals with India’s richest man – nothing says ‘global leader’ like a little extra bling on the side The Trump Organization has ramped up its foreign licensing and development fees fivefold in 2024, fueled by new projects including a $10 million deal with Mukesh Ambani’s Reliance conglomerate in Mumbai — the Wall Street Journal reports. The move signals a significant push by the Trump family into global real estate markets amid the president’s term, breaking from past self-imposed limits on foreign business. Other key deals include projects in Saudi Arabia, Dubai, and Vietnam, reflecting the Trump brand’s broadening footprint – and raising fresh concerns about potential conflicts of interest in the intersection of politics and business. —— —— MEF MOBILE NEWS 18 JUN 2025 Donald Trump has extended the deadline for ByteDance to sell TikTok’s US operations by another 90 days, allowing the app to keep running while deal talks continue. The move aims to secure American user data amid ongoing US-China tensions around tech and trade. The extension buys time for a complex sale that requires both an American buyer and Beijing’s approval, which has been stalled partly due to the broader tariff war. Looking ahead, this delay keeps TikTok alive in the US mobile ecosystem, but uncertainty remains over ownership and data security—key issues for regulators and users alike. The administration has considered bids involving Oracle and private equity, but challenges persist as China resists approval amid ongoing trade disputes. ———————————— Nintendo’s Switch 2 is flying off shelves with over 3.5 million units sold in just four days, outperforming its predecessor’s launch. Thesurge comes as the gaming sector becomes a safe haven amid US-Japan tariff disputes, highlighting mobile and handheld gaming’s resilience in global trade tensions. Looking ahead, this strong demand could accelerate development of mobile-optimized games and accessories, reinforcing Nintendo’s leadership in portable entertainment. Alongside Nintendo, other gaming giants like Square Enix and Bandai Namco are also seeing gains, reflecting broad investor confidence in gaming’s growing role in the mobile ecosystem. ————————————— The GSMA and TM Forum are teaming up to simplify certification of Open Gateway APIs, aiming to boost the global telecom API economy. By aligning technical standards with business frameworks, they’re cutting complexity and cost for developers and operators integrating mobile network features like identity verification and carrier billing. This step could unlock new revenue streams for telecoms and help them better compete with cloud giants. However, challenges remain around pricing models and market adoption—telcos must prove these APIs can be commercially viable and widely available. From MEF’s perspective, this partnership is a crucial first step but far from the finish line. Operators need to commit to real API availability, fair pricing, and resolve regulatory and operational issues. MEF invites industry members to join the ongoing debate on pricing, use cases, and monetisation to help shape the future of telecom APIs and ensure sustainable growth in the mobile ecosystem. ————————————- Telecom CEOs speaking at Digital Transformation World in Copenhagen are urging the industry to fully embrace artificial intelligence or risk falling behind. Vikram Sinha of Indosat Ooredoo Hutchison highlights AI’s real impact, like protecting new internet users from scams, and stresses it must be accessible to everyone, not just high-end customers. Meanwhile, Nuuday’s CEO Christian Thrane points to AI tools speeding up customer service and securing networks but says collaboration and standardized network APIs are key to unlocking AI’s full potential. The AI shift will reshape the mobile ecosystem, creating smarter services and new revenue—but only if operators build trust and work together. ————————————- The U.S. Federal Communications Commission says China Mobile could face fines for not cooperating with its investigation into whether the company is evading American restrictions. The FCC has already barred China Mobile and other Chinese telecom firms from operating in the U.S. due to national security concerns. The probe involves nine companies, including Huawei and ZTE, reflecting ongoing tensions around foreign telecom firms and U.S. security policies. The outcome could tighten regulatory controls and impact global telecom partnerships, especially involving China. ———————————— China’s mobile operators cut their operational emissions for the first time in 2024, even as mobile data traffic nearly quadrupled since 2019. The improvement reflects major efficiency gains and increased use of renewable energy across the industry, signaling a shift toward greener mobile networks. This progress is crucial as China leads in 5G connections, with over 1 billion active users driving demand. This sets a precedent for global mobile ecosystems to pursue ambitious net-zero goals, but experts warn this initial drop must accelerate to meet targets by 2030. Operators and suppliers are increasingly adopting science-based climate commitments, reshaping the environmental impact of mobile infrastructure as data demand continues to grow. —— —— MEF TECH NEWS 18 JUN 2025 Taiwan has officially blacklisted China’s tech giants Huawei and Semiconductor Manufacturing International Corp., banning local firms from working with them without a license. This marks a sharp shift from Taiwan’s usual cross-Strait business openness and signals a tougher stance on China’s tech rise—backed by the US, which has been pushing Taiwan to tighten chip export controls. The move aims to limit China’s access to critical semiconductor technology amid escalating geopolitical tensions. Taiwan’s new leadership is focused on reducing economic dependence on China, even as Beijing warns against such actions. This marks a growing front in the global tech rivalry between the US, Taiwan, and China. ——————————— Elon Musk’s AI company xAI is close to securing $9.3 billion in combined debt and equity financing, despite recent tensions between Musk and Donald Trump. The deal includes over $5 billion in bonds and loans, anchored by a $1 billion commitment from investment group TPG Angelo Gordon, plus a planned $4.3 billion equity raise. The funding will help xAI build data centers to compete with rivals like OpenAI and Google. Musk’s xAI launched the chatbot Grok and merged with his social media company X earlier this year. While Musk’s changing relationship with Trump caused some investor hesitation, many see strong value in the deal, which aims to support xAI’s growth ambitions and projected earnings by 2029. ————————————- Spotify founder Daniel Ek is leading a €600 million investment round in Helsing, a German drone maker now valued at €12 billion, making it one of Europe’s top tech startups. Originally focused on AI software, Helsing is expanding into drones, aircraft, and submarines amid rising global defense spending and the war in Ukraine. The company has sold thousands of strike drones to Ukraine and holds contracts with several European countries. Ek says AI and autonomy are transforming modern warfare, with Helsing evolving from software to a full AI hardware and software company. Despite some backlash over his involvement, Ek is confident this investment is crucial for Europe’s future defense tech. ——————————————- OpenAI’s Sam Altman says Meta’s been throwing around signing bonuses up to $100 million to woo his staff—basically enough to make anyone consider a career change to “AI superstar.” But so far, OpenAI’s top talent isn’t biting. Meta’s Mark Zuckerberg is personally on the hunt for AI geniuses, even dropping $14.3 billion on Scale AI and poaching its CEO. Altman respects the hustle but jokes that Meta might be better at writing big checks than groundbreaking code — and maybe some folks just want to work for passion, not just paychecks that could buy a small — not even so small — island. —— ——