Business
– The African Union has formally launched the Africa Credit Rating Agency, known as AfCRA, in Mauritius. The agency will provide credit assessments for African sovereigns, companies, financial institutions and other issuers. Its launch took place in Port Louis during
– Pakistan’s federal state-owned enterprises held about $36.5 billion in debt at the end of December 2025. The total increased 14.3% from a year earlier, adding roughly $4.7 billion at current exchange rates. Pakistan’s Ministry of Finance reported the figures
– The UAE recorded $63.353 billion in outward foreign direct investment during 2025, according to UN Trade and Development. The country’s total outward FDI stock reached $402.729 billion at the end of the year. That figure stood at $55.560 billion
Europe’s extreme summer heat and drought could cut EU economic output by about 1% in 2026, according to new analysis from Triodos Bank. The estimated loss equals roughly €180 billion and is close to the European Commission’s current growth forecast
Fresh vegetable prices have surged in South Korea as prolonged extreme heat reduced shipments and damaged farm output nationwide. Korea Agro-Fisheries & Food Trade Corp. data showed spinach at 1,978 won per 100 grams on Aug. 7, up 152.3% from
European space authorities finalized a major expansion of the bloc’s flagship orbital communications network on Friday following months of multilateral commercial negotiations in Brussels. Official announcements from the European Commission confirmed that the EU Commission signs contract to expand IRIS2
Headline inflation across OECD economies eased to 4.2% in June 2026 from 4.6% in May, ending three straight monthly increases. The measure tracks annual changes in consumer prices across the group’s member countries. Inflation declined in 20 economies, increased in
Oil prices extended their decline on Wednesday, deepening a selloff that pushed both major benchmarks to three-week lows. Brent crude futures fell 92 cents, or 1.2%, to $78.44 a barrel by 3:30 a.m. GMT. U.S. West Texas Intermediate futures dropped
Oil prices surged on July 29, pushing Brent crude above $90 a barrel as renewed Middle East fighting and tighter U.S. inventories lifted global benchmarks. Brent futures settled at $90.74, up $6.65, or 7.9%. West Texas Intermediate gained $5.20, or