Dramatic turnaround: Rwanda's longtime President Paul Kagame wins plaudits abroad for making his tiny country a continental power. But the transformation has meant suppression of dissent and alleged assassinations of critics. https://bloom.bg/3SshW7T

Rates freeze: South Africa’s central bank held its benchmark interest rate at a 2009 high, while signaling that its fight to quash inflation is not yet done. https://bloom.bg/4b7RY0O

Inflation rise: Zambia's inflation rate nears a two-year high due to currency depreciation, putting pressure on monetary policymakers to act next month. https://bloom.bg/48MJbQa

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz.

Nintendo will launch a new game console this year with an 8-inch LCD screen, according to Omdia analyst Hiroshi Hayase.

The new device from the Kyoto-based games maker will be responsible for a doubling in shipments of so-called amusement displays in 2024, Hayase said. His research focuses on small and medium displays and he bases annual forecasts on checks with companies in the supply chain.

The company has been tight-lipped about any potential successor, but expectations have narrowed to this year’s holiday period for the release of the next generation. More here: https://bloom.bg/3Oeojcz

📷: Victor J. Blue/Bloomberg

Genocide case: Israel must immediately act to prevent the killing and harm to innocent Palestinians in Gaza, the United Nations’ top court ruled, stopping short of ordering a halt to its military operations there. https://bloom.bg/3u9gX3a

Dangote richer: Nigerian tycoon Femi Otedola plans to buy more shares of Dangote Cement after his recent acquisition helped increase Aliko Dangote, founder of the cement maker's wealth to a decade high. https://bloom.bg/3vSxr0c

Debt relief: Zambian President Hakainde Hichilema said his country is a “guinea pig” for a Group of 20 plan to help poor countries restructure unaffordable debts and that failure to win relief would mean disaster for others needing help. https://bloom.bg/3OiUWWi

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz.

From the Chengs to Kwoks, Hong Kong’s old-money families are feeling the chill of China’s economic downturn.

While the collective wealth of the 20 richest Asian clans has soared to a record $534 billion, up $55 billion since March, an unprecedented four out of the five Hong Kong families on the list have seen their fortunes clipped.

The Indian clans gained the most as the nation’s economy boomed: This week, its stock market became the fourth-biggest globally, overtaking Hong Kong’s.

See which families made it to our Asia rich list. ➡️ https://trib.al/boYelMH

In Singapore, buying a Toyota can cost as much as an Aston Martin in most countries.

The cost of owning a car in the city-state is near a record high, as the government’s zero-growth approach to registering new cars collided with demand from the island-state’s burgeoning rich.

A worker on an average salary would have to pay about three years of wages to buy a Toyota sedan. The price includes the cost of a Certificate of Entitlement — a permit granting the right to own and use a car in Singapore for 10 years. Read how that’s adding to a broader debate around elevated rents, inflation and an influx of wealthy foreigners in recent years: https://bloom.bg/42o4JAw

📷: Edwin Koo/Bloomberg

Africa's rate cute surprise: The Bank of Ghana cut its benchmark interest rate for the first time since 2021, based on its outlook for inflation to keep slowing. https://bloom.bg/42dEyfP

Italy boosts ties with Africa: Prime Minister Giorgia Meloni unveils an investment plan worth more than €5.5 billion ($5.9 billion) to strengthen Italian relations with the continent, in an attempt to boost energy ties and curb migration flows. https://bloom.bg/3SkYDfk

Inflation in Zimbabwe soars: Inflation in the sub-Saharan nation surged as a currency rout pushed up the prices of goods and services, adding to pressure on the central bank to act. https://bloom.bg/3Sg1o1M

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

The Ferrari-driving, Instagram-savvy billionaire royal living next to Singapore is about to become one of the most powerful people in Malaysia. But even before officially taking the job, Sultan Ibrahim Iskandar is already stirring controversy.

The extent to which Sultan Ibrahim displays his riches — and speaks out on issues traditionally reserved for elected politicians — makes him unique among Malaysia’s nine hereditary rulers, who rotate the role of head of state among them every five years.

With close ties to the leadership of Singapore and business partners that include one of China’s biggest property developers, the sultan is poised to have more influence on both domestic and foreign policy than any previous Malaysian monarch. Selected by the nation’s hereditary rulers in October, he officially takes the throne on Jan. 31. More here: https://bloom.bg/47QK7Sl

📷: Mohd Rasfan/Pool/AFP/Getty Images

Nigeria's currency dip: The naira plunged to a record against the dollar following a revision of the methodology used to set the exchange rate, in effect the second devaluation of the currency in seven months. https://bloom.bg/3SfX5Dz

Russia's African army: In a new push to expand its influence in Africa, Russia is recruiting for an armed force to replace the Wagner group's mercenaries across the continent. https://bloom.bg/42iW9ms

Zimbabwean millionaires: A fresh plunge in the value of the sub-Saharan nation's dollar means that everyone in the country with US$100 is worth millions in local-currency terms. https://bloom.bg/4begHk5

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Junta risks access to $702 billion market: Plans by military-ruled Mali, Niger and Burkina Faso to break away from a West African bloc have the potential to backfire on their already fragile economies and exacerbate widespread food insecurity. https://bloom.bg/3vOVwVt

Nigeria's currency woes: The naira’s official exchange rate fell below its street value, signaling it may be closer to its fair market level after plunging to a record against the dollar this week. https://bloom.bg/3SE3REv

South Africa's M&A revival: Mergers and acquisitions in the sub-Saharan nation are set to rebound this year as the $405 billion economy starts to show signs of recovery, according to Investec. https://bloom.bg/3SEWHQj

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

WATCH: Narendra Modi has his eyes set on a third term as India’s prime minister. Will the upcoming budget be the policy push he needs to swing the undecided voters?

Here's what to watch out for ➡️ https://trib.al/855WZUF

India's Annual Interim Budget 2024

India’s government will increase infrastructure spending by 11% in coming financial year and curb its fiscal deficit, Finance Minister Nirmala Sitharaman says in her last budget speech before elections. https://trib.al/BMSlupl

Read an in-depth analysis on Modi’s last budget before elections in our free blog. https://trib.al/oE1HIkJ

Here are the winners and losers from India’s latest budget. https://trib.al/K6wZrZd

Menaka Doshi explains the unmissable takeaways for India and the global economy. Get the India Edition delivered straight to your inbox tomorrow. Subscribe here: https://bloom.bg/3qEX2rh

Vivendi's bid for Multichoice: Canal+ has offered to buy the shares of the South African pay-TV company that it doesn’t already own in a deal that values the business’s shares at 46 billion rand ($2.5 billion). https://bloom.bg/4bnAcqn

Nigeria lifts forex caps: The country's central bank eased rules on international money transfers, taking another step in freeing up its volatile foreign-exchange market to attract billions of dollars being sent home by citizens living abroad. https://bloom.bg/42ook3s

IMF, Egypt $10 billion deal: An International Monetary Fund mission to the Northeast African nation has extended its visit until the end of the week for urgent talks on a potential deal that may bring in partners and exceed $10 billion. https://bloom.bg/47VJqY1

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Exclusive: India's order to freeze much of fintech pioneer Paytm's business comes after years of warnings about questionable dealings. https://trib.al/PPUZW4L

Severe Blow: Shares of the digital-payments provider plunged 20% after Indian regulators ordered it to halt a bulk of its business. https://trib.al/S56sVFq

Explainer: What happens to your money in the app? Here's all you need to know. https://trib.al/9hiLMAn

Rough week for naira: Even by the standards of Nigeria’s byzantine foreign-exchange market, it’s been a crazy week for the naira. But as the dust settles, new measures are in place that could prove decisive for the world’s worst-performing currency. https://bloom.bg/3ul0gSA

Mozambique to end power pact: The sub-Saharan nation plans to end half a century of hydropower supply to South Africa’s state-owned electricity utility, raising risks for the continent’s most industrialized economy. https://bloom.bg/4blgImo

Ethiopia plan:  Ethiopian lawmakers voted to extend a state of emergency in the northern Amhara region that the government first declared in August, following clashes between federal troops and a rebel group. https://bloom.bg/3SryID2

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Nigeria on the mend: Nigerian Central Bank Governor Olayemi Cardoso says the country has almost cleared a backlog of foreign-exchange contracts that have weighed on the naira and repeated that the currency is undervalued. https://bloom.bg/3vVYwPV

South Africa's election: The country's ruling party risks losing its majority in this year’s elections, but should be able to form a governing coalition with smaller parties, a survey of political analysts shows. https://bloom.bg/42uHe92

World class copper: KoBold Metals, a mining startup that uses artificial intelligence to explore for materials key to the green-energy transition, said it’s discovered a huge copper deposit in Zambia. https://bloom.bg/3HNdVow

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

A momentous shift is under way in global markets as investors pull billions of dollars from China’s sputtering economy, two decades after betting on the country as the world’s biggest growth story.

Much of that cash is now heading for India, with Wall Street giants like Goldman Sachs and Morgan Stanley endorsing the South Asian nation as the prime investment destination for the next decade.

That momentum is triggering a gold rush. More here on how a historic shift is under way: https://bloom.bg/49m2rUL

Senegal postpones election: Lawmakers agree to delay presidential elections in one of Africa’s strongest democracies, raising tensions that risk destabilizing the country. https://bloom.bg/4buRxha

Cocoa output: Ivory Coast's prolonged weather crises risk leading to a cocoa bean shortfall, adding to global concerns over tight supplies. https://bloom.bg/42r51Xf

Naira reforms: Nigerian central bank governor says dollar liquidity in the country’s currency market has risen sharply, pointing to “positive outcomes” from recent reforms. https://bloom.bg/49fNq6S

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz

Singapore's DBS slashed CEO Piyush Gupta’s compensation by S$4.1 million ($3 million) after the lender suffered a series of digital banking outages last year and was reprimanded by the central bank.

The pay cut, announced alongside DBS earnings, represents a 30% reduction in variable pay for Gupta, one of the highest paid executives in the country who earned S$15.4 million in total in 2022. https://bloom.bg/3HMrlRI

Japan’s demographic struggles are forcing companies and communities to open up at an unprecedented rate.

Last year, the number of foreign workers hit a record 2.04 million, up 12.4% from 2022, according to the labor ministry. That inflow is set to continue at a fast pace.

Yet even with the steady inflows of workers, Japan’s immigrant population is only around 2%, the lowest among the Group of Seven advanced economies, with the other six having such numbers in the double digits. Read more: https://bloom.bg/494Zzfg

Oil smuggling: The capture of a Libyan tanker in Albanian waters opens a window on a $5 billion trade in smuggled fuel — much of it coming from Russia. https://bloom.bg/3HO1c55

ANC may lose majority: South Africa’s ruling party looks set to lose its outright majority in national elections for the first time since 1994, while support for the populist Economic Freedom Fighters may rise, an Ipsos poll finds. https://bloom.bg/3Ozd1Q8

Twelve year high rate surprise: The Central Bank of Kenya surprised financial markets by raising borrowing costs to their highest level since 2012, as risks to inflation remain elevated and to support the shilling. https://bloom.bg/3weMlOe

Watch Africa Amplified for a deep dive into the region’s biggest stories: https://bloom.bg/3u0S3Cz