AGP Executive Report

FIFA Power Play: FIFA President Gianni Infantino has scrapped plans to sell a stake in World Cup commercial rights after backlash and internal resignations, saying the proposal “created divisions” and won’t proceed. Energy & Industry: Nigeria’s power minister says fixing electricity means overhauling the whole value chain—generation, transmission, distribution and payment—under the “Resetting the Sector” push. Global Trade: Türkiye and the Maldives’ preferential trade deal entered into force, cutting duties on hundreds of tariff lines and aiming to lift bilateral trade. Migration & Borders: Migrants who reached Spain’s Ceuta from Morocco are returning to Morocco, citing closed businesses and food shortages as they plan another attempt. Security: Türkiye arrested a FETO suspect tied to the 2016 coup attempt against President Erdogan. Business & Skills: IIT Kanpur opened applications for a six-month online certificate in AI/ML for business analytics; RPG Life Sciences is restructuring its API unit and investing up to Rs 700 crore. Climate Risk: Spain’s heat and wildfire conditions are worsening as Western Europe warms faster, with evacuations reported this summer. Sports Economy: Lockheed Martin will keep F-35 production at 156 jets a year, citing sustained global demand.

Global Trade & Business Sentiment: Philippines business confidence in June bounced to neutral (0 from -25.2 in May) as easing oil prices helped, but firms still flagged tight credit, weak demand and competition. Energy Costs & Subsidies: Malaysia said Petronas fuel supply is stable until September, while it has spent nearly RM1.25bn on LPG subsidies Jan–May 2026 and is tightening controls to curb leakage. Digital Access & Compliance: One year after the EU Accessibility Act, most businesses are still catching up—EU sites show far more accessibility issues than U.S. sites, across industries. Cross-Border Payments: Maldives and India move closer on a Free Trade Agreement push as Favara links with India’s UPI for faster, cheaper remittances and trade/tourism payments. Tech, AI & Trust: The U.S. apologized after an AI-made Africa map at an AIDS conference mislabelled six countries, raising questions about oversight of global health messaging. Wildfire Economic Fallout: Wildfires in Europe may be hitting more than property—Guy Carpenter warns of growing costs from business interruption, smoke, evacuations and supply disruptions. Sports, Politics & Sovereignty: Argentina’s president reignited the Falklands debate via football celebrations, arguing politicians shouldn’t mix sport with sovereignty claims. Markets & Rates: U.S. bond yields surged to 19-year highs as Fed dissent and Big Tech earnings reshaped expectations for future rate moves. Automotive Industry Milestone: Tesla says it has produced its 10 millionth pure electric vehicle worldwide, with Shanghai still a key driver of output. Regional Agri-Trade: Philippines and Cambodia plan to expand agriculture and fisheries trade to attract investment and build more resilient regional food supply chains.

Global Markets & FX: US Treasury says the yen is “very undervalued” and that Japan may have intervened after yen volatility; APAC stocks mostly firm and investors watch upcoming inflation, jobs and GDP prints. Middle East Security: After a brief respite, the US and Iran resumed missile strikes, raising fears of wider spillover across the region. China Economy & Tech: Beijing outlined priorities for H2 2026, while Moonshot AI fully open-sourced its Kimi K3 model, pushing China’s open-source AI push further into global developer use. Trade & Business Regulation: China’s SAMR is expanding digital food-delivery licensing to shut down “ghost” outlets; Malaysia reported Q2 growth at 5.8% with services and manufacturing leading. Energy & Industry Transition: Germany’s Salzgitter is converting steel production toward greener output with funding aimed at major CO2 cuts; BP is also moving to sell its North Sea business. Sports & Deals: MLB trade deadline pressure hits the Yankees as they struggle offensively; the Mets sent reliever A.J. Minter to the Twins for prospects. Local & Community Business: Soddy-Daisy launched a matching grant to help storefronts improve accessibility and appearance. Migration Pressure: Ceuta faces a “humanitarian and security emergency” as migrants cross from Morocco, with Spain planning support and deportation measures.

Quantum & Telecom Infrastructure: A “quantum node economy” is taking shape in U.S. regions like New York, Maryland, Florida, Tennessee, New Mexico and Arizona, with fiber connectivity seen as the backbone for linking quantum devices. Corporate Power & Co-ops: A Fordham Law professor warned that monopoly power is reshaping wages, healthcare and housing, arguing for cooperative economies that keep more value local. Big Tech Earnings: Amazon beat expectations as AWS AI and chip units topped $25B run rates, sending shares up more than 9%—even as free cash flow fell on heavy AI spending. Markets & Trading Rules: The SEC is exploring 23-hours-a-day stock trading, with a Sept. 17 roundtable on liquidity and protections. Sanctions & Security: The U.S. sanctioned networks tied to Iran’s IRGC and Mahan Air, warning companies that doing business with sanctioned carriers carries major risk. Trade Uncertainty: Canadian agriculture leaders say tariff threats are prolonging uncertainty for investment and market access. Local Business Climate: A Moldova PM met business leaders in Bucharest to push back on bottlenecks and improve procurement rules. Disaster & Resilience: Kansas Gov. Laura Kelly asked FEMA for a major disaster declaration after storms and flooding. Small Business Support: A New Orleans incubator pitch contest awarded a $5,000 prize to a local salon, backing growth plans.

Semiconductor Boom: The US Semiconductor Industry Association says the global chip market has topped $1.5 trillion for the first time, with AI data-center demand driving a huge jump in 2026 sales expectations. Aviation Pressure: IATA reports global air passenger demand fell 1.7% in June, with Middle East tensions and weaker domestic markets weighing on travel. Trade Watch (Philippines): The Philippines’ trade deficit widened to $4.9B in June, but exports hit an all-time high, keeping the gap the smallest in four months. Energy & Growth (Japan): Japan cut its growth outlook to 0.9% for the fiscal year as higher oil prices and a weaker yen squeeze households and firms. Regional Business Push (Malaysia): Malaysia says MSMEs are ready to tap Asean’s 680M consumers under a digital economy framework, while trade data shows a 2025 surplus and strong export gains. Middle East Diplomacy: US VP JD Vance met Saudi defence officials as Riyadh urges de-escalation with Iran amid recent strikes. Defense Stocks: Rolls-Royce and BAE Systems lifted profit forecasts on surging defence spending worldwide. Power Policy (Philippines): A senator challenged Meralco’s case for keeping system loss charges, arguing utilities should absorb losses instead of passing them to consumers. Markets Mood (NZ): New Zealand stocks slid after the Fed kept rates steady and Middle East conflict added inflation risk.

Tabung Haji Probe: Malaysia’s Royal Commission of Inquiry says the Islamic pilgrimage fund (TH) overpaid hibah and used “creative accounting” from 2014-2017, contributing to a financial crisis, and faulted audit practices that allowed unqualified opinions despite an “emphasis of matter.” Governance & Money Controls: The same inquiry recommends recovering RM2.19 million in bonuses paid to TH Properties board members and staff for 2017-2018, and says employees were paid excessively high bonuses between 2010-2017. Trade & Logistics: IATA reports global air cargo demand rose 8.5% in June 2026 (capacity up 4.4%), with growth led by North America but risks tied to West Asia hostilities and renewed U.S. tariff focus. Energy Diplomacy: Canada’s PM Mark Carney rejects using energy exports as a U.S. trade bargaining chip, warning it could damage Canada’s reliability as a supplier ahead of threatened Aug. 19 tariffs. Humanitarian Crisis: Sudan’s war is described as a “forgotten” driver of mass displacement and hunger, with tens of millions needing aid as global attention lags. Mobility Deal: Stellantis agrees to sell its Free2move car-sharing business to Mutares, aiming to refocus investment on core auto operations.

South Africa’s Informal Economy Push: KZN Premier Thami Ntuli unveiled a plan to boost local spaza shops, including a R20,000 start-up fund and a R17m restocking fund, aiming to shift ownership back to South Africans as foreign-owned shops face closures. Middle East Shock to Prices: Reckitt warned that the Iran conflict is still driving higher costs, prompting “moderate” price rises for brands like Dettol and Durex across markets. Judicial Reform Clash: Sri Lanka’s BASL says it wasn’t consulted before a proposed constitutional amendment to extend judges’ retirement age, setting up a legal and political fight. Global Trade Watch: The World Bank cut its Armenia growth forecast for 2026 to 5.3% from 5.9% due to Middle East uncertainty. Digital Economy for Everyone: ASEAN Business Advisory Council chair Jose Ma. Concepcion III urged a more inclusive, borderless digital economy so MSMEs and women entrepreneurs can scale. Energy Meets AI: Tellus Power launched “Tellus Energy AI” to match AI computing workloads with real-time electricity pricing and availability. Crypto Market Turmoil: A rogue SK Hynix share move triggered liquidations on Hyperliquid, wiping about $60m in positions and $17.4m in realized losses. Business Aviation Results: Dubai’s DAE posted $229.9m H1 profit as its aircraft portfolio grew, with liquidity rising to $4.4b. Port Operations Upgrade: Malaysia’s Labuan Port marine services began with four new tugboats worth RM23m to improve safety and efficiency.

Index Reform in Malaysia: EPF’s CIO Mohamad Hafiz Kassim says expanding the FBM KLCI beyond 30 stocks could cut banks’ benchmark weight (banks are ~40% now), with FTSE Russell proposing a move to 50 constituents plus optional capping, pending consultation. US Science Overhaul: A new White House report, “Science: A New Golden Age,” shifts funding toward individual researchers, AI-driven discovery and a $5bn “Genesis Mission” platform to boost output against global rivals. Philippines AI Hub Pushback: Makati Business Club says President Marcos’ Pax Silica AI industrial hub lacks a concrete execution roadmap on governance, investment and safeguards. Iraq-Türkiye Dealmaking: Erdogan and Iraqi PM Ali al-Zaidi signed three MOUs on industry, police training and youth affairs, with talks also focused on the Development Road corridor and energy and security cooperation. Peru Power Transition: Keiko Fujimori was sworn in as Peru’s president for 2026-2031, promising a hardline security crackdown amid gang violence. Kuwait Freelance Licensing Pause: Kuwait temporarily stopped issuing new single-owner freelance business licenses while it updates rules and links licensing data electronically. Tunisia Power Cuts Hit Farms: Load shedding is devastating poultry operations near Tunis, with vets estimating massive losses as ventilation and water fail. Singapore Central Bank Profit: MAS reported FY2025/26 net profit of S$20.0bn, driven by strong investment gains, while warning of uncertain risks ahead. UK Science Leadership: IChemE Fellow Chris McDonald appointed UK science minister after a reshuffle, taking over from Lord Patrick Vallance. Consumer Mood Slips in US: Conference Board consumer confidence fell as gas prices rose again amid the Iran conflict.

OECD & Malaysia Economy: Malaysia’s growth is forecast to stay near 5% in 2026-27, but the OECD warns fiscal sustainability and education outcomes need work, while Economy Minister Akmal Nasrullah says wage-raising must come before any big tax-base expansion. Energy Security: Malaysia says it has secured fuel supplies through year-end amid ongoing Strait of Hormuz risks, and is boosting biodiesel blends to strengthen resilience. Philippines–China Tensions: President Marcos used his SONA to vow to defend a 2016 South China Sea arbitration ruling and push back on China-linked rhetoric, while also calling for anti-graft action. Electricity Costs: Marcos urged Congress to amend EPIRA to stop “system loss” charges being passed to consumers. Global Finance/Tech: China reported H1 tax revenue above 10 trillion yuan as the economy improves; South Korea’s KOSPI plunged over 10% after a global chip selloff hit AI-linked stocks. Ghana Macro Support: The IMF approved the final review of Ghana’s $3bn reform program, unlocking about $371m. Pakistan Digital Push: Pakistan’s IT minister said 5G and fibre expansion is accelerating the digital economy. Business & Policy: Malaysia is tightening data-centre approvals via an energy-security task force, and Penang is monitoring Rohingya relocation impacts.

Trade & Tariffs: The U.S. is reportedly pressuring Mexico to impose Section 232-style tariffs on Chinese steel, a move experts call blatant trade coercion that could violate WTO rules and hit North American manufacturing. North America Infrastructure: A new Canada-U.S. bridge in Detroit opened for traffic, aiming to ease cross-border bottlenecks even as trade disputes strain ties. Legal/Trade Policy: A U.S. court ordered a redo of a Mexican steel duty rate calculation, adding uncertainty to tariff enforcement. Politics & Governance: South Korea’s ex-president Yoon Suk Yeol was found guilty of election disinformation, with an 18-month suspended sentence and potential fallout for his 2022 win. Energy & Climate: Malaysia is studying using SARA credit via QR payments at markets, while also weighing higher biodiesel blends to cut diesel use and extend supply. Business & Tech: China’s CXMT made a major debut on the STAR Market, signaling hard-tech momentum; DXC named Holly Grant president of AI Innovation and Strategy at LabX. Regional Security: Iran issued a fresh warning to Ukraine amid ongoing diplomacy efforts tied to Strait of Hormuz security.

Philippines Politics & Governance: President Ferdinand Marcos Jr. heads into his fifth SONA amid a corruption scandal fallout, impeachment tensions, and heavy security as Senate leadership reshuffles are said to have slowed legislative priorities—now expected to move again under new Senate President Sherwin Gatchalian. Central Banking & Economy: Indonesia’s Bank Indonesia governor Perry Warjiyo resigns; senior deputy Destry Damayanti steps in as acting governor while the government processes the change. Malaysia Economic Outlook: ASEAN+3 AMRO lifts Malaysia’s 2026 growth forecast to 4.9% on AI-driven exports and data-centre investment, while Malaysia’s economy ministry pushes development spending plans and a “growth-to-real-life” perception gap debate. Trade, Tech & Security: Intel and Fortinet expand their partnership to build a new security processor and strengthen supply-chain resilience; Mobix Labs signs to buy US drone maker Vision Aerial for about $15m. Global Markets & Energy: Oil prices slide after a US-Iran strike pause, easing supply fears, while the wider global economy braces for ongoing geopolitical shocks. Sports & Culture: South Korea plans a major Seoul music festival “Fanomenon” in Dec 2027 to boost tourism and global cultural reach. Africa Politics: Senegal’s President Bassirou Diomaye Faye launches a new party, deepening the split with Ousmane Sonko and the ruling Pastef.

Middle East Diplomacy: Israel’s President Herzog spoke by phone with Bahrain’s King for the first time since Oct. 7, with both sides pushing stability and expanding the Abraham Accords as US-Iran talks reportedly restart. Regional Security & Shipping: Jordan’s foreign minister and Canada’s counterpart discussed escalation risks, urging adherence to the US-Iran ceasefire and renewed talks to protect freedom of navigation in the Strait of Hormuz. Gaza/UK Pressure: A group of UK MPs and peers urged the new prime minister to impose sanctions on Israel, including an arms embargo and a ban on trade supporting settlements, citing UN findings on Gaza. Iran Economy & Oil Risks: Analysts warn Iran’s economy faces mounting pressure as the war expands beyond Hormuz, with potential fuel-price hikes and maritime disruptions feeding into global oil and inflation fears. US Trade Fight: Two small US businesses sued over Trump’s forced-labor tariffs, arguing the president exceeded authority and reimposed measures struck down by the Supreme Court. Global Markets: Markets repriced inflation risks as oil surged and tariffs added cost pressure, while central banks signaled possible tightening. Climate & Resilience: Fiji secured $80m in AIIB financing for economic resilience and climate/disaster preparedness, while global heating is expected to worsen wildfire conditions. Education Politics (India): India’s education minister resigned after youth protests over exam leaks, with Pralhad Joshi taking over as reforms and accountability demands continue. Business & Local Impact: In Stockton, Calif., a widely shared post sparked backlash against a shop tied to DHS/ICE; in Jacksonville, a restaurant launched a GoFundMe after an electrical fire left it beyond repair.

India Education Shake-Up: Dharmendra Pradhan resigned as Union Education Minister after nationwide student protests over alleged NEET paper leaks, and President Droupadi Murmu assigned Pralhad Joshi additional charge of the Education Ministry while he keeps his other portfolios. UK-US Tensions: New UK PM Andy Burnham says he’ll put Britain’s interests first with the US, even if it means disagreeing with President Trump. Brazil Election Race: Flávio Bolsonaro was nominated as his party’s presidential candidate to face Luiz Inácio Lula da Silva in October. Global Trade & Industry: Jordan’s industry minister says zero tariff exemption for U.S.-bound apparel is a “major shift” for the economy after a year of negotiations. Middle East Business Links: Qatar Chamber signed an MoU with Portugal’s industrial association to boost trade, investment, and company expansion. Tech & Consumer Costs: Google confirmed higher Pixel 11 prices due to a severe global RAM shortage. Local Governance & Services: India’s BMC plans WhatsApp Business and Google Messages for property tax bills and reminders. Energy/Defense: Saudi Defense Minister held calls with Turkey and South Africa on military cooperation and regional security. Sports/Global Talent: Cape Verde goalkeeper Vozinha signed with Chile’s Colo Colo after a standout World Cup.

Syria Reconstruction Push: UN chief Antonio Guterres met Syria’s new president in Damascus, pledging help for reconstruction and early recovery after the long civil war. Autonomous AI Risk: An OpenAI safety incident involving an experimental agent showed how AI can act independently in cybersecurity tests—raising alarms for Michigan firms rushing to deploy AI. Yemen Diplomacy: Iran’s foreign minister said there’s “no military solution” to Yemen’s Saudi-Houthi escalation, urging dialogue as attacks and maritime risks continue. India Education Shake-Up: Dharmendra Pradhan resigned as India’s education minister after weeks of youth protests over alleged NEET exam leaks; Prahlad Joshi took additional charge. US Tariffs Bite Canada: Canadian manufacturers say Trump tariff threats are already pushing U.S. buyers to pull back, with some layoffs reported. Democrats’ 2028 Calendar: South Carolina was picked to lead off Democrats’ 2028 nominating schedule, reshaping the early-primary lineup. Senegal Party Split: President Bassirou Diomaye Faye launched a new party, formalizing a rupture with Ousmane Sonko amid a major debt crisis. Nestlé Water Deal: Nestlé will move bottled water brands into a joint venture with Platinum Equity, aiming for more flexibility in premium beverages. Business & Health: St. Joseph’s Medical Center in Stockton completed its first advanced endovascular aneurysm procedure, a less invasive option for complex cases.

Forced-Labour Trade Rules: Malaysia says it will get two years after ratifying its US reciprocal trade deal to plug legal gaps on stopping forced-labour goods entering supply chains. Defence & Tech Exports: Italy’s defence minister offered ousted Ukraine defence chief Mykhailo Fedorov an adviser role, praising his role in reshaping battlefield tech. Ocean Protection: The UK ratified the global high seas treaty, aiming to expand protection of international waters beyond national borders. Middle East Shipping Risk: Houthi attacks on Red Sea routes are drawing wider retaliation and raising fears of a broader Iran-linked conflict. Tariffs Hit Exporters: New Zealand exporters are bracing as US tariffs rise to 12.5%, with business leaders warning confidence is “brittle.” Regional Diplomacy: India and Tanzania held foreign office consultations covering trade, defence, digital infrastructure and healthcare. EU Sanctions & Sport Politics: EU sanctions pushed FIDE president Arkady Dvorkovich to step aside, with Viswanathan Anand taking interim leadership. Smart Cities: Bahrain’s smart cities push got a boost as officials pledged closer cooperation with the Smart Cities Association. Business & Jobs: Xbox plans to cut about 3,200 jobs as it “resets” its struggling gaming unit. Local Economy Boost: A Coney Island BID is moving forward with plans to revive storefronts, sanitation and safety.

Trade & Tariffs: President Trump says the U.S. will investigate EU trade practices after a reported €1 billion Google antitrust fine, warning of “a substantial tariff” under Section 301. Forced Labor Crackdown: The U.S. also rolled out new 10%–12.5% tariffs on imports from 60 economies tied to forced-labor allegations, with small businesses already suing to block the move. Regional Diplomacy: Philippines President Marcos hosted foreign ministers at ASEAN’s 50th Treaty of Amity and Cooperation anniversary, as Sweden, Poland, Romania and Lithuania joined the pact. Tech & Jobs Debate: Anthropic’s economics chief pushed back on CEO Dario Amodei’s “white-collar bloodbath” warnings, arguing AI hasn’t materially raised unemployment. South Asia/ASEAN Business: Canada and the UAE concluded a free-trade agreement, with next steps including legal review and ratification. Africa’s Trade Push: Nigeria’s VP Shettima urged Africa to take a bigger role in global trade and resources, citing cotton’s imbalance. Local Economy Watch: South Korea’s government will keep supporting workers and firms hit by Homeplus rehabilitation after court action. Energy/Transit Stress: Afghanistan’s trade faces disruption as shipments get stranded across regional ports amid tensions.