🤖 Global Regulators Ramp Up AI Oversight in Finance Regulators around the world are pushing for tighter scrutiny of artificial intelligence (AI) use in banking and finance , citing growing model risk, systemic frailties, bias, and stability concerns. Reuters The Financial Stability Board (FSB) warned that if many institutions rely on the same AI models and hardware, the market could fall into herd behaviour , amplifying shocks. Reuters The Bank for International Settlements (BIS) echoed that central banks and regulators must upgrade their technical capabilities to monitor AI deployment and interpret its systemic effects. Reuters +1 In Europe, rules like DORA (Digital Operational Resilience Act) are already influencing how banks must manage tech and AI risks, imposing resilience and transparency standards. Reuters Germany’s financial regulator BaFin is using AI internally to detect market abuse, improving detection of irregular trading patterns. Reuters

  🇨🇩 Congo to Permanently Ban Cobalt Exporters Who Breach Quotas Announced : On October 6, 2025, President Felix Tshisekedi declared that any cobalt exporter in the Democratic Republic of Congo (DRC) who violates the new quota regime will face permanent bans . Reuters This is part of a broader shift: from a full export ban earlier in 2025 to a quota-based system starting October 16. Under the new rules, exporters will be limited to 18,125 tons for the remainder of 2025, with annual caps of 96,600 tons for 2026 and 2027. Reuters +2 Reuters +2 The move is intended to stabilize global cobalt prices , reduce fraud, and reassert state control over what is a strategic global supply. Tshisekedi credited the earlier export freeze with contributing to a ~92% rebound in prices since March. Reuters Key players: Glencore has expressed support for the quota system. Reuters +2 Reuters +2 CMOC Group , China’s leading cobalt miner, has opposed the strict quotas, arguing th...

   U.S. Revokes Visas of Over 50 Mexican Officials in Crackdown The U.S. government, under President Trump’s administration, has canceled the visas of at least 50 Mexican politicians and government officials . The move is part of an aggressive push against drug cartels and suspected political allies . Reuters Many of those affected belong to the ruling Morena party , as well as officials from other parties. Though only a few have publicly confirmed the revocations, insiders say the action is more widespread than previously known. The Guardian +2 Mexico News Daily +2 Baja California Governor Marina del Pilar Ávila is among those whose visa was revoked; she has denied any involvement with organized crime. The Guardian +2 Mexico News Daily +2 U.S. State Department officials say visas can be revoked without explanation when someone’s actions are judged “contrary to U.S. national interests,” which can include ties to corruption, drug trafficking, or other illicit activ...

   Trump Likely to Meet Xi in South Korea as Trade Tensions Simmer U.S. Treasury Secretary Scott Bessent confirmed that President Donald Trump is “ready to meet” Chinese President Xi Jinping in South Korea later this month, despite recent friction over trade and rare earth export controls. Reuters +2 Reuters +2 The proposed meeting is expected to take place on the sidelines of the upcoming APEC summit in Gyeongju, South Korea . Financial Times +2 Reuters +2 Talks between U.S. and Chinese officials have increased, with Bessent saying there’s been “substantial communication” to de-escalate tensions. Reuters +2 Al Jazeera +2 This development comes after China enforced stricter export licensing on rare earth minerals , a move that triggered threats from Trump of 100% tariffs on Chinese goods starting November 1. Reuters +2 Financial Times +2 While Trump at times said there was “no reason” to meet Xi amid the escalation, he hasn’t formally canceled the proposal, ...

   Hamas Releases Last Israeli Hostages Under Ceasefire Deal Under a U.S.-brokered ceasefire, Hamas handed over the remaining 20 living Israeli hostages held in Gaza, as part of a broader exchange involving hundreds of Palestinian detainees. Reuters +2 Financial Times +2 Israel, in turn, released around 1,900 Palestinian prisoners and detainees , including those held without charge and those serving long sentences. Financial Times +1 President Donald Trump , speaking soon after the exchange, called the move a culmination of the war and announced the conflict’s end — although many observers say deeper challenges remain. Reuters +1 Emotional reunions were captured across Israel, especially in “Hostages Square” in Tel Aviv , where families and crowds gathered to greet returned loved ones. The Guardian +1 The deal also stipulates the return of 28 bodies of hostages who died, though as of now only a portion have been handed over — Israel reported one of the returne...