Trump in Japan. U.S. President Donald Trump said that the United States is “an ally at the strongest level” to Japan while meeting new Prime Minister Takaichi Sanae today. The countries will work together “toward the development of a free and open Indo-Pacific,” Takaichi said. The leaders signed a commitment to cooperate on critical minerals and released a fact sheet detailing hundreds of billions of dollars worth of planned Japanese investments in the United States.
Supercomputer partnership. The U.S. government and tech firm Advanced Micro Devices (AMD) are partnering on a $1 billion project to build two large supercomputers, U.S. Energy Secretary Chris Wright and AMD CEO Lisa Su told Reuters. The supercomputers will conduct research in areas such as nuclear power and fusion, defense technology development, and pharmaceuticals. The plan calls for the first computer to be brought online within six months.
Potential Canada-China thaw. Canadian Prime Minister Mark Carney said yesterday he plans to meet with Chinese President Xi Jinping this week in the hopes of resetting the bilateral relationship. Leaders of the two countries have not met since relations chilled in 2018, following Canada’s detention of a Huawei executive at the request of the United States.
An eighth term for Cameroon’s president…Authorities in Cameroon declared yesterday that President Paul Biya won an eighth term in office despite opposition protests disputing the election results. At least four people died in protests Sunday that also saw dozens of opposition supporters arrested. Biya, who is 92, is the world’s oldest president.
…and a fourth for Ivory Coast’s. President Alassane Ouattara, 83, won a fourth term Saturday, election authorities announced yesterday. Ouattara’s two top rivals were barred from running for office, prompting protests in the weeks ahead of the election.
Japan’s yen stablecoin. The world’s first stablecoin pegged to and fully convertible to the Japanese yen began trading yesterday. Stablecoins are designed to have a more fixed value than other types of cryptocurrency. This one, called JPYC, is backed by domestic assets including Japanese government bonds. Stablecoins pegged to the U.S. dollar currently account for more than 99 percent of global supply.
Turkey-UK aircraft deal. Turkey signed an agreement with the United Kingdom (UK) Monday to buy more than $10 billion worth of British fighter jets, a deal that UK Prime Minister Keir Starmer said bolsters NATO unity and military preparedness. It is the UK’s largest fighter jet export agreement in nearly twenty years. The first jets are set for delivery in 2030.
Sanctions bite Russian oil firm. Lukoil, Russia’s second-largest oil producer, said yesterday it will sell its international assets following new U.S. sanctions aimed at disrupting Russia’s war financing. The latest U.S. sanctions hit Russia’s two largest oil firms as well as their subsidiaries; Lukoil has businesses across Africa, Europe, and the Middle East.