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According to the revised agreement, the main satellite constellation will expand from 282 planned orbital units to 348 active spacecraft. The upgraded network design incorporates 330 satellites in higher low Earth orbit alongside 18 in medium Earth orbit, with extra orbital slots reserved for specialized missions. The implementation agreement specifies the definitive timeline for satellite production, launch procurement, secure ground segment development, and operational connectivity services. The initial satellite launches are scheduled for 2029, enabling participating member states to access early sovereign connectivity shortly after. This decision to enlarge the satellite fleet addresses increased security needs and evolving defense operational demands across Europe. The updated design includes technical enhancements to the baseline satellite hardware, along with an additional layer of 66 low Earth orbit spacecraft dedicated to defense forces, national security agencies, and emergency response units. Technical assessments indicate that this expansion will boost secure governmental communication capacity by 60 percent within the EU and by 54 percent globally, improving regional response during complex emergencies and infrastructure crises.

South Korea’s record June current account surplus was powered by strong semiconductor exports. The cumulative current account surplus for the first half of the year reached $191.01 billion, setting a new record for any January to June period. This compares to $47.87 billion during the same timeframe last year. The six-month total also exceeded South Korea’s prior full-year record of $123.05 billion in 2025. The data highlight the remarkable export growth in the first half, with semiconductors playing a crucial role in boosting overseas sales.

Eurozone manufacturing output accelerated in July while new orders and exports stayed weak. The survey’s output index advanced to 52.9 from 51.7, reaching its highest point since March 2022. Production accelerated more rapidly than overall manufacturing conditions, although companies relied heavily on work scheduled in previous months. New orders saw only slight growth and lagged behind the pace of production. Export orders declined once more, with decreases in France, Spain, Italy, and Austria offsetting gains elsewhere in the currency area. As a result, July’s rise in production was largely supported by existing order backlogs. Factories worked through unfinished business at the fastest rate since January, completing orders already in progress. This reduction in backlogs helped sustain output even as incoming work remained subdued. Furthermore, manufacturers reduced employment once again in July, continuing a period of job cuts across the sector. Companies carefully managed staffing levels while demand growth remained limited. Business confidence improved to its highest level since February, yet it stayed below the long-term average among eurozone goods producers. Demand growth remains sluggish compared to production A key obstacle to the manufacturing recovery was the continued weakness in exports. Several major eurozone economies reported fewer orders from international clients. Gains in other markets were insufficient to compensate for these declines. The combined domestic and export demand resulted in only a slight increase in total new work. This contrasted with the stronger rise in factory output and the faster reduction in backlog orders. As factories entered the third quarter, production activity

Scaleup Europe Fund targets €5 billion for strategic technology growth across Europe. An initial commitment of €1 billion has been made by the Commission, with the contribution supported by Horizon Europe. Both public and private investors will provide capital at the first closing. EQT will then pursue further commitments from a wider investor base. The €5 billion mark remains an aspirational target rather than a confirmed fund size, and EQT notes that the final total could be higher or lower. The amount raised at the first closing has not been disclosed. The Commission participates under the same financial conditions as other investors. The fund is aimed at European scaleups in the technology sector that require significant late-stage funding. It will operate across all EU member states and eligible associated countries. Investment decisions will be made via a merit-based process, following approved guidelines. While the Commission and other investors will have a say in governance, they will not influence individual deals; EQT holds responsibility for deal selection and portfolio management. The mandate was awarded through an open and competitive process. Structure and Investment Parameters Targeted sectors include artificial intelligence, quantum computing, semiconductors, robotics, and autonomous systems. The scope also encompasses energy, space, biotechnology, medical technology, advanced materials, and agritech. The fund intends to invest approximately €100 million or more per deal, including follow-on rounds. It is authorized to back private companies from Series B onwards. Eligibility is limited to companies operating or planning to operate within an eligible country,

OECD inflation eased to 4.2% in June as energy price growth slowed across member economies. Much of the monthly slowdown can be attributed to energy prices. OECD energy inflation dropped four percentage points to 11.7% year on year, after reaching 15.8% in May. The rate declined in 24 of the 37 countries with available data. Nevertheless, energy inflation rose in 10 economies, with six countries still recording rates above 15%. This broad retreat contributed to the overall decrease in headline inflation, although energy remained a significant driver of annual price increases. In June, food inflation also showed signs of moderation, decreasing by 0.2 percentage points to 3.4%. Core inflation, which excludes volatile food and energy components, similarly declined by 0.2 points to 3.6%. These indicators suggest that price growth eased beyond just energy, yet both still stay above the 2% threshold used by many central banks. A lower inflation figure indicates that prices are rising at a slower pace, but does not necessarily mean the overall price level is declining. Energy decline contributes to lower G7 inflation Across the G7 nations, the annual headline inflation rate dropped to 3.0% in June from 3.5% in May. The main contributor to this decline was a 5.2-point reduction in energy inflation. Every G7 country experienced a decrease in inflation except Japan, where it edged up by 0.2 point to

UK economic growth continues as inflation, hiring and investment pressures remain. Official data reveal that gross domestic product grew by 0.6% in the first quarter, following a 0.1% increase in late 2025. The GDP was 0.9% higher than its level a year earlier. The largest contribution to quarterly growth came from services, which expanded by 0.8%. Household consumption also rose by 0.6%. The current official figures do not indicate a technical recession, which requires two consecutive quarterly contractions.

U.S. equities experienced a significant rally on Monday, driven by gains in Big Tech shares and a sharp decline in oil prices. The Dow Jones Industrial Average surged 693.38 points, or 1.32%, closing at a record of 53,178.41. The S&P 500 increased by 1.48% to 7,600.50, just below its all-time high. The Nasdaq Composite advanced 2.13% to 25,913.90, leading the major indices. The session marked a positive start to August with widespread gains across both large and small-cap stocks.

UK solar capacity reaches 22.8 GW as plug-in rules prepare for an August launch. June saw the second-highest number of monthly installations ever recorded in the UK, with only March 2026 surpassing it, at 28,782 installations. Over the course of the 12 months ending in June, solar capacity grew by 2.2 gigawatts, representing a 10.9% increase. The year 2025 saw the highest annual total with 269,000 installations, most of which were on residential, commercial, and other building rooftops. Utility-scale projects continued to enhance the nation’s overall solar capacity and output.

Industries focused on services recorded a 0.2 percent increase in May, marking the fourth consecutive month of overall growth in the service sector. The public sector, which includes education, healthcare, and public administration, expanded by 0.3 percent. Growth was also seen in finance and insurance activities, alongside increased attendance and broadcast revenues in spectator sports as Canadian professional hockey teams advanced through playoff rounds. Overall industrial data indicated that service output maintained steady momentum across both public and private sectors.

Global financial markets experienced a wave of risk aversion, leading to declines in digital assets as Bitcoin dipped below the $63,000 level. According to cryptocurrency exchange Binance, the top cryptocurrency by market capitalization dropped 3.02% in the past 24 hours, settling at $62,957.83. This recent decline prolongs a multi-session downturn driven by volatility in technology equities, macroeconomic headwinds, and shifting expectations around monetary policy. Bloomberg market data further shows that a sharp rise in long liquidations across derivatives trading venues coincided with a drop in spot trading volumes.