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At the end of August 2026, Egypt’s international reserves hit a historic high of $57.2145 billion. The Central Bank of Egypt announced this provisional figure on September 7. Reserves were at $56.2939 billion at the close of July, marking a monthly increase of approximately $920.6 million, or 1.6%. This milestone is the first instance where Egypt’s official reserve holdings have surpassed $57 billion.

South Korea along with African partner nations is set to establish a significant economic cooperation framework centered on artificial intelligence and technology-led progress at the 8th Korea-Africa Economic Cooperation Ministerial Conference in Seoul. This upcoming ministerial event celebrates the 20th anniversary of their bilateral platform, gathering cabinet ministers, development financiers, and leaders from the tech industry. Official sources confirm that Korea and Africa are charting a new course for AI digital infrastructure deployment across emerging trade routes, while reflecting on two decades of joint investment efforts.

South Korea’s foreign exchange reserves experienced their largest monthly growth in August, reaching a total of $442.28 billion by the end of the month. The Bank of Korea announced that reserves increased by $14.33 billion from $427.95 billion at the close of July. This expansion marks the biggest rise since official reserve data collection began in 1971 and pushed the country’s holdings to their highest since May 2022, indicating a rapid acceleration compared to the smaller gains in the previous two months.

South Korea’s consumer inflation increased to 3.1% in August from the same month last year, driven by higher fuel and telecom expenses. Fuel costs surged, with petroleum products contributing 0.54 percentage points to the overall inflation rate. Mobile phone service charges also jumped by 26.7%, largely due to discounts offered by SK Telecom following a data breach in the previous year. Despite general inflation, fresh food prices declined by 6.7% in August.

Exports of semiconductors, which are the main contributors to the country’s trade success, soared 209% year-on-year to reach a record high of $46.65 billion. The rise in chip exports was driven by ongoing capital expenditure initiatives among leading global tech firms expanding data center infrastructure and enterprise AI hardware. This marks the third month in a row where semiconductor exports exceeded the $40 billion mark. Additionally, data from the Yonhap News Agency pointed out that exports of computer products increased 419.5% to $6.24 billion amid rising global NAND memory prices. Trade Ministry Data Confirms $34.75 Billion Monthly Trade Surplus Energy and chemical sectors also contributed significantly to the overall monthly gains. Exports of petroleum products jumped 65.3% year-on-year to $6.84 billion, while petrochemical shipments grew 12.2% to $3.86 billion. Rising global crude oil prices supported higher unit prices across refined product categories. In contrast, automobile exports declined by 29.8% to $3.85 billion. Officials attributed this decrease to temporary seasonal shutdowns, altered summer holiday schedules at major domestic automotive factories, and localized labor disputes. Looking at geographic distribution, exports to key trading partners showed widespread growth. Shipments to China increased 119.3% year-on-year to $24.1 billion, supported by high-volume exports of memory chips and industrial machinery. Exports to the United States rose 89.3%

India Achieves 7.8% Economic Growth, As Modi Applauds Early Quarter Achievements NEW DELHI, INDIA / RankWire.AI / – Prime Minister Narendra Modi lauded India’s 7.8% expansion in the April to June quarter of fiscal 2026-27. The latest official figures indicated sustained strength across manufacturing, services, consumption, and investment sectors. Modi characterized the growth rate as a “herculean feat” amid global economic challenges. He referenced oil price shocks, supply chain disruptions, and broader economic uncertainty as the main hurdles facing the nation. The Prime Minister also credited India’s people for their resilience and efforts.

Japanese equities faced significant downward pressure on Monday, with the Nikkei 225 falling nearly 2% during early trading hours. The index declined 1.97% to close at 65,096.63, after briefly dropping to an intraday low of 64,832.10. Technology shares were at the forefront of the decline as investors reacted to rising bond yields and expectations of tighter interest rate policies. The broader Topix index also declined early on, losing 0.84% to settle at 4,111.71.

Indonesia has formalized a new partnership between its investment and sports authorities to foster increased activity within the country’s sports industry. Investment and Downstreaming Minister Rosan Perkasa Roeslani and Youth and Sports Minister Erick Thohir signed the memorandum on August 28. The agreement emphasizes developing investments and implementing risk-based licensing processes, linking sports-related investments to Indonesia’s existing national licensing system. Officials highlighted this initiative as part of the global sports market valued at approximately US$521 billion.

The UAE and Egypt have officially launched a five-year wheat supply deal valued at up to US$500 million. Al Dahra Agriculture Trading will provide imported wheat to Egypt’s General Authority for Supply Commodities as part of this arrangement. The financing backing for these purchases is supplied through the Abu Dhabi Exports Office. This agreement implements a framework established in 2023 and specifies the terms for wheat transactions between Al Dahra and GASC over the coming five years.

Oil prices recovered somewhat on Tuesday following a drop of over 2% in both major crude benchmarks the previous day. Brent crude increased by 27 cents to $92.44 a barrel at 0330 GMT. Meanwhile, U.S. West Texas Intermediate rose 37 cents to $85.38. This rebound followed a six-session rally that concluded with a broad sell-off in energy markets on Monday.