Latest news for 3 March 2026

SOUTH KOREA

War rally?

South Korean markets reopened after a public holiday to yet another war (Iran). That means Seoul’s biggest defence contractor (Hanwha) is now up 20% alone, but the broader market has plunged ~7% amid broader jitters. (Korea Times)

Comment: It’s a similar story across other advanced economies, as investors weigh up the risks of oil spikes, inflation, and fear all trimming growth expectations.

RWANDA

Sanctions.

The US has imposed sanctions on the Rwandan army and top generals over the country’s role in the ongoing violence in eastern DR Congo. (Reuters)

Comment: It’s getting harder — and costlier — for Rwanda to maintain the fiction that it’s not backing the M23 rebels now occupying vast swathes of neighbouring Congo.

CYPRUS

Caught in the crossfire.

Greece has announced it’ll deploy two warships and two fighter jets to Cyprus after a series of drone attacks targeted the island’s British base. France is reportedly planning to send anti-missile and anti-drone systems too. (Ekathimerini.com)

Comment: ‘The Greeks are fighting the Persians’ is quite the flashback. Anyway, Cyprus is apparently irked at the UK’s relatively broad wording for its US authorisation to use RAF bases, and was gunning for humanitarian use only. It’s a classic case study on the politics of offshore basing.

CANADA

Friends again?

Wrapping his first prime ministerial visit to India, Mark Carney has agreed with Delhi’s Narendra Modi to fast-track trade talks, plus the two signed a pact to supply India with uranium. (BBC)

Comment: It’s a big deal given how far India-Canada ties fell amid India’s efforts to assassinate Sikh separatist leaders in Canada and beyond. It seems less about any magical negotiation breakthrough, and more just the opportunity for a political reset that comes with a new leader (Carney replacing Trudeau).

SOUTH SUDAN

Attack on the brink.

Authorities are blaming armed youth linked to the opposition SPLA-IO rebel group after an attack in the country’s north left at least ~170 dead. UN peacekeepers are sheltering another 1,000 civilians within their base. (Al Jazeera)

Comment: The UN has repeatedly warned the country risks more civil war amid a never-ending spat between the president (Kiir) and his former deputy (Machar).

CHINA

You’re not on the list.

China’s ruling communist party has removed 19 names (including nine generals) from the list of lawmakers ahead of this week’s yearly Two Sessions conference. (Independent)

Comment: As usual, there’s mystery around this last-minute guestlist edit, but it fits President Xi’s recent pattern of purges, whether they’re anti-corruption, paranoia, or both. We wrote about that here.

INDONESIA

Truck that.

The Indonesian government has hit pause on an order for 105,000 vehicles from India amid parliamentary pushback urging local-built alternatives. The order, comprised of 4x4s and six-wheelers, is part of the president’s plans to establish 80,000 community cooperatives across Indonesia. (Bloomberg $)