Our daily trip around the world

🇪🇺 Apple is preparing to allow third-party app stores on its devices in the EU, per Bloomberg. The move comes in response to the EU’s new Digital Markets Act, which requires all tech companies valued at $80+ billion with 45+ million monthly users to open up its platform to third-party developers. As part of the reportedly planned change, Apple customers in Europe would be able to install apps without using the App Store, which takes a 15%-30% cut on all transactions.

🇨🇳🇷🇺 Chinese President Xi Jinping has reportedly instructed his government to form stronger ties with Russia. Per the WSJ, Xi in recent weeks has ordered officials to: 1) increase Chinese imports of Russian oil, gas, and farm goods, 2) approve more joint energy partnerships in the Arctic, and 3) increase Chinese investment in Russian infrastructure, including railways and ports. Both countries are also reportedly conducting more financial transactions in their own currencies – instead of the euro or dollar, as is typical – in an effort to protect their economies from potential future sanctions.

🇵🇪 Peru declared a 30-day national state of emergency yesterday following a week of mass protests. In recent days, thousands of Peruvians have gathered across dozens of cities calling for the reinstatement of former President Pedro Castillo, with at least seven deaths reported in clashes with police. Last week, Castillo was arrested and replaced as president shortly after he announced plans to dissolve Peru’s legislature and rewrite the constitution, which came hours before a vote to impeach him for alleged corruption. New President Dina Boluarte this week proposed moving the next presidential election up by two years in response to the ongoing protests.