Daily Update — July 11, 2025
Future of Sustainable Aviation; US Tariffs on Asia; and Private Equity Deal Value Growth
Today is Friday, July 11, 2025, and here’s your curated selection of Essential Intelligence on global markets from S&P Global. Subscribe to be notified of each new Daily Update.
Energy Transition & Sustainability
Listen: CEO talks future of sustainable aviation at one of the world’s busiest airports
In this episode of the “All Things Sustainable” podcast, Paul Griffiths, CEO of Dubai Airports, shared the path that led him from training as a musician to working with business magnate Richard Branson to leading an airport that served more than 92 million travelers in 2024.
Griffiths explained the initiatives Dubai Airports has undertaken to become more sustainable. He talks about how to balance the rising demand for travel with the sustainability of airport operations.
Learn more about S&P Global Commodity Insights’ assessments on Sustainable Aviation Fuel.
Global Trade
Trump tariffs could reshape Asian oil, LNG, steel trade flows
US President Donald Trump's move to impose 25% tariffs on all imports from Japan and South Korea, along with varying rates on 12 other Asian nations, could significantly disrupt critical energy flows and reshape steel trade patterns across the Pacific Rim.
The tariff letters, posted July 7 on social media, set an Aug. 1 implementation date but left room for negotiations. South Korea has already dispatched top officials to Washington for a mutually beneficial deal. Japan and Indonesia are also exploring diplomatic channels to address the tariffs, which could significantly alter established trade flows in energy products and steel across the Pacific Basin, S&P Global Commodity Insights analysts said. The timing is particularly challenging for West Coast fuel markets as regional refining capacity faces major reductions in the coming years.
Private Markets
Global private equity deal value up 19% in H1 2025
Global private equity and venture capital deal value climbed in the first half, continuing a trend of high-value, lower-volume deals. The growth in deal value was driven by larger deals, which are less susceptible to market uncertainties such as tariffs, said Carl Marcellino, partner at Ropes & Gray.
Private equity firms are executing large transactions to deploy some of the substantial capital they have raised, according to Simon Grimshaw, partner for corporate and finance at Hogan Lovells. There is about $2.5 trillion in dry powder, down slightly from the record set in 2023.
In case you missed it
- The value of global funding rounds backed by private equity and venture capital rose to $189.93 billion in the first half of 2025 compared with $152.24 billion for the same period in 2024, according to S&P Global Market Intelligence data.
- The US insurance industry experienced its second-worst annual adverse development across any single reported business line during the past 20 years in 2024.
- Turkey's thermal coal imports in May increased 2% month over month after falling in March and April.
Upcoming events
- Navigating Change: The Critical Role of Sustainability in the Financial Function | July 15 (New York)
- Climate Stress Testing: Adapting to Evolving UK & EU Regulations | July 16 (Webinar)
- Reshaping the Rules: Understanding the NAIC’s Proposed Investment Framework Overhaul | July 17 (Webinar)
- Look Forward: The Future of Capital Markets | Webinar Replay