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Daily Update — November 4, 2026

Brazil Renewables Face El Niño; Private Credit Emerging Managers; and MENA as an AI Hub

Today is Wednesday, November 4, 2026, 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.

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Energy Expansion

Brazil renewables navigate rainfall surge, weak winds amid strong El Niño

 

An unusually strong El Niño is causing excess rainfall in the southern and southeastern regions of Brazil, where most of the country's hydroelectric plants and reservoirs are located. The weather phenomenon’s interaction with other meteoroligical anomalies is adding volatility to Brazil's power market, according to market participants and weather experts.

 

"The climate is facing changes in a planetary scale, and global warming is intensifying the effects of El Niño," Marcely Sondermann, meteorologist at weather forecast company Climatempo, said during the Brazil Windpower conference.

Private Markets

Private Credit Emerging Managers 2026: Where They Are Now

 

A group of new entrants to private credit has experienced early success in fundraising, with capital solutions strategies and asset-based finance launches showing promise. Fund managers on With Intelligence’s 2026 list of “emerging managers to watch” have secured billions across funds, separately managed accounts and special purpose vehicles, while others have set ambitious targets for their debuts.

 

Notably, Vlado Spasov’s Trimontium Capital became one of Europe’s largest private credit debutants, launching with assets under management of $1.5 billion in June, including an anchor investment from a large US-based asset manager. Meanwhile, fund financing manager NLC Capital secured over $1 billion for its main evergreen fund and is targeting $3 billion for its net asset value lending strategy.

Artificial Intelligence

FiberConnect APAC 2026: Fiber and AI intertwined, powering next-gen connectivity

 

Fiber networks are supporting traditional connectivity needs and powering the next generation of AI-driven applications, data centers and national strategies across the Asia-Pacific region, Middle East and North Africa. Regulators, telco leaders and technology innovators convened at the FiberConnect APAC 2026 conference to understand the transformative convergence of fiber and AI.

 

The Middle East and North Africa region is positioning itself as a global AI hub, with data center capacity expected to double from 3 gigawatts to 6 GW by 2030. Asia-Pacific telcos are transforming from connectivity providers to foundational enablers of national AI ecosystems through government mandates and infrastructure investments, with today's fiber modernization initiatives defining the region's long-term digital landscape.

In case you missed it

  • The EU Deforestation Regulation is moving closer to implementation as Brazil and Argentina process large soybean crops and European buyers reassess their sourcing strategies.
  • Brazilian beef packers have lowered export offers, particularly for front forequarter eight cuts destined for China, after the Brazilian real depreciated against the US dollar following the reelection of President Luiz Inácio Lula da Silva.
  • Japan's local government sector can manage rising long-term interest rates, and debt balances will continue easing due to higher local tax revenues and ongoing central government support, according to S&P Global Ratings.

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