Browsing: Business
On Monday, Volkswagen AG, the German automotive leader, reached an accord to sell its Osnabrück plant to the Israeli private equity firm Aurelius Capital alongside the German federal state of Lower Saxony. This initial understanding stipulates that the new proprietors
– By the end of August 2026, Egypt’s net international reserves reached an all-time peak of $57.2145 billion. The Central Bank of Egypt announced this preliminary figure on September 7. At the close of July, reserves were reported at $56.2939
South Korea and African partner nations are set to inaugurate a significant economic partnership framework centered on artificial intelligence and technology-led progress during the 8th Korea-Africa Economic Cooperation Ministerial Conference in Seoul. Celebrating the 20th anniversary of their bilateral cooperation
– South Korea’s foreign exchange reserves saw their largest monthly surge ever in August. By the end of the month, reserves totaled $442.28 billion, according to the Bank of Korea. This represented an increase of $14.33 billion from $427.95 billion
– South Korea’s consumer prices rose 3.1% in August from a year earlier, official data showed. The increase accelerated from 2.8% in July and returned headline inflation above 3%. The consumer price index reached 120.05, with 2020 set as the
The Republic of Korea’s outbound shipments experienced a remarkable increase of 68.7% year-on-year in August, reaching $98.25 billion. This growth was primarily fueled by persistent global demand for high-performance memory chips and infrastructure for artificial intelligence. Data from the Ministry
– Prime Minister Narendra Modi has lauded India’s 7.8% growth in the April to June quarter of fiscal 2026-27. He described the achievement as a “herculean feat” following official data that indicated ongoing expansion across key sectors of the economy.
– Japan’s Nikkei 225 declined nearly 2% at the start of trading on Monday as investors reacted to mounting expectations for higher interest rates. The index dropped 1.97% to reach 65,096.63, before falling further to a session low of 64,832.10.
– Indonesia has enhanced collaboration between its investment and sports ministries to foster growth in the national sports industry. Investment and Downstreaming Minister Rosan Perkasa Roeslani and Youth and Sports Minister Erick Thohir formalized their partnership through a memorandum of
– Al Dahra Agriculture Trading and Egypt’s General Authority for Supply Commodities have activated a five-year agreement for wheat supply valued at up to US$500 million. This accord transitions a 2023 financial framework into an operational import arrangement for Egypt.