Browsing: Business
On Monday, Volkswagen AG, the German automotive giant, finalized an agreement to sell its Osnabrück assembly plant to Israeli private equity firm Aurelius Capital and the state of Lower Saxony. The preliminary deal stipulates that the new owners will transform
– By the end of August 2026, Egypt’s net international reserves hit a new 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 partner nations across Africa are set to launch a significant economic cooperation initiative centered on artificial intelligence and technology-driven growth during the 8th Korea-Africa Economic Cooperation Ministerial Conference in Seoul. This upcoming gathering marks two decades since
– In August, South Korea’s foreign exchange reserves experienced their largest monthly rise on record, reaching a total of $442.28 billion by month’s end, according to the Bank of Korea. This marks an increase of $14.33 billion compared to $427.95
– South Korea’s consumer prices increased by 3.1% in August compared to the previous year, according to official statistics. This uptick outpaced July’s 2.8%, pushing overall inflation above the 3% mark. The consumer price index hit 120.05, with 2020 serving
The Republic of Korea’s outbound shipments experienced a 68.7% year-on-year increase in August, totaling $98.25 billion. This surge was primarily fueled by persistent global demand for high-performance memory chips and artificial intelligence infrastructure. Data from the Ministry of Trade, Industry
– Prime Minister Narendra Modi has lauded India’s impressive 7.8% rise in economic activity during the April to June quarter of fiscal 2026-27. He described this performance as a “herculean feat” following official reports that indicate sustained growth across key
– The Nikkei 225 in Japan declined nearly 2% during Monday’s early trading sessions amid market reactions to increasing expectations of higher interest rates. The index initially fell 1.97% to 65,096.63 before extending its decline to an intraday low of
– Indonesia has strengthened cooperation between its investment and sports ministries to boost investment in the national sports industry. Investment and Downstreaming Minister Rosan Perkasa Roeslani and Youth and Sports Minister Erick Thohir signed a memorandum of understanding on August
– Al Dahra Agriculture Trading and Egypt’s General Authority for Supply Commodities have launched a five-year agreement for wheat supply valued at up to US$500 million. This deal transitions a 2023 financing plan into a functional import framework for Egypt.