China’s new drone export controls add stricter reviews for shipments to the United States. Exporters will now need to obtain approval for each shipment involving covered items instead of relying on streamlined licensing procedures. The authorities will evaluate the products, end users, and intended purposes in accordance with existing export control regulations. The scope encompasses unmanned aerial vehicles, critical parts, and technologies that meet China’s thresholds for controlled items. China already regulates certain drone engines, communication gear, sensors, and anti-drone systems. It also prohibits civilian drones from being exported for military use. The new restrictions intensify oversight specifically on controlled products destined for the United States.
Business
In July, manufacturing output across the Eurozone expanded at its quickest rate in nearly four and a half years, despite ongoing sluggish demand. The S&P Global Eurozone Manufacturing Purchasing Managers’ Index increased to 51.9 from 51.4 in June. This reading marked the highest since April and maintained the index above the 50 threshold that indicates growth. The final figure was just below the earlier forecast of 52.0. Manufacturing conditions showed improvement at the beginning of the third quarter.
Scaleup Europe Fund targets €5 billion for strategic technology growth across Europe. The EU has allocated €1 billion for the fund, with the contribution supported by Horizon Europe. Initial capital commitments will come from both public and private investors during the first closing. Afterward, EQT will seek additional funding from a wider investor base. The €5 billion mark remains a target rather than a guaranteed final size, with EQT indicating the total may be higher or lower. The amount raised at the first closing has not been disclosed, and the Commission will participate on the same financial terms as other investors. The fund aims to assist European technology scaleups requiring substantial late-stage funding rounds. It will operate across EU member states and eligible associated countries. EQT will select investments based on a meritocratic process aligned with approved guidelines. Both the European Commission and other investors will have a say in the fund’s governance, but they will not influence individual deal decisions—EQT will handle the commercial selection and portfolio management. The mandate was awarded to EQT through a transparent, open competition process. Investment structure and eligibility criteria The fund’s targeted sectors include artificial intelligence, quantum technology, semiconductors, robotics, and autonomous systems. It also encompasses energy, space, biotechnology, medical technology, advanced materials, and agritech. The fund intends to make investments of approximately €100 million or more, including follow-on rounds, and will support privately owned companies from Series B onward. Eligible companies must operate within or plan
OECD inflation eased to 4.2% in June as energy price growth slowed across member economies. Energy prices largely contributed to the monthly slowdown. OECD energy inflation declined by four percentage points to 11.7% year-on-year, down from 15.8% in May. The rate decreased in 24 of the 37 countries with available data.
The UK’s economic activity continues to avoid recession, yet new forecasts indicate mounting pressure from global energy supply disruptions. EY has increased its growth projection for 2026 to 0.9% from 0.8% in May, while maintaining its 2027 baseline at 1.2%. This forecast assumes the Strait of Hormuz reopens by September with subdued tanker traffic. EY’s downside scenario estimates 0.5% growth this year and a 0.2% contraction in 2027.
Health
Michigan has verified two deaths linked to its 2026 cyclosporiasis outbreak, marking the first fatalities reported by the state. The Michigan Department of Health and Human Services announced 11,234 cases as of Aug. 3. Through July 30, it also documented 193 hospitalizations. Medical records indicated both individuals had significant underlying health issues that may have been affected by cyclosporiasis and dehydration. Officials noted they will not disclose additional details about the two patients.
The Ebola outbreak in DR Congo has escalated into the nation’s most extensive epidemic to date. According to health officials, there have been 3,605 confirmed cases recorded up to July 30, with 1,587 fatalities. The case fatality rate is calculated at 44%. During the most recent complete reporting week, teams documented 567 new infections and 296 deaths, representing the highest weekly figures since the outbreak’s inception. This surge has further strained efforts in surveillance, treatment, and community response initiatives.
In the Democratic Republic of the Congo, health officials have verified that the total number of infections in the current outbreak has reached 3,075, marking a significant milestone as Congo Ebola cases surpass 3,000 amid an unprecedented surge in transmission. The health ministry’s official data indicates that the epidemic has resulted in 1,354 deaths and 556 recoveries, with 755 individuals still under treatment or isolated in specialized wards. Declared on May 15, this outbreak is now the fastest-growing in recorded history, crossing 2,000 cases on July 15 and adding another thousand within less than two weeks.
Moderna has launched a Phase 1 clinical trial for an experimental vaccine targeting Bundibugyo ebolavirus in Canada. The trial began with the first participant receiving the mRNA-1469 vaccine on August 3 at a location in Truro, Nova Scotia. This development occurs as the virus continues to spread across multiple provinces in the Democratic Republic of the Congo. The World Health Organization has designated the outbreak as a public health emergency of international concern.