AGP Executive Report

Circular Economy Policy: South Africa’s DFFE says the Draft National Circular Economy Action Plan is still under development and not yet published, after claims it was released in June sparked confusion. Corporate Governance: Malaysia’s Securities Commission launched a consultation on strengthening corporate governance, including tighter oversight of company secretaries, a shareholder litigation fund, and guidance for concentrated (often family) ownership firms. Public Finance & Jobs: South Africa’s 2026 Public Economics Conference (July 7-9) will tackle youth unemployment using labour-market data and implementation-focused policy solutions. Local Business Impact: A Bronx power outage left hundreds of customers without reliable electricity, disrupting shops and forcing some businesses to improvise during repairs. Trade & Tariffs: In Michigan, some resale and salvage retailers say tariffs and inflation are helping them because their supply chains are mostly domestic. Corporate Law Reform: India’s Joint Parliamentary Committee on the Corporate Law (Amendment) Bill discussed easing MSME compliance burdens. Blue Economy: Nigeria’s marine and blue economy push is shifting from policy to sub-national implementation with private-sector partners. Markets & Banking: Central Bank of India reported strong Q1 growth in deposits and advances, lifting total business to ₹8.33 lakh crore. Corporate Disputes: A securities class action was filed against Embecta over alleged concealment of competitive threats in its pen needle business.

Corporate IT & Cybersecurity: Medtronic confirmed an April 2026 breach of certain corporate systems, saying it found no proof patient data was posted online and that devices remain safe. AI & Fraud Risk: A report warns AI is making fake identity documents more sophisticated, raising stakes for remote hiring and pushing employers to tighten screening. Markets & Macro: Netherlands data showed June was less negative than May, with exports and manufacturing improving but consumer confidence still weak. Commodities: ICE cotton futures slipped after a weak US export sales report, even as a softer dollar offered some support. Energy & Trade Security: India replenished crude stocks to near a one-year high after import volumes recovered post disruption. Business Deals: Objectway agreed to buy FNZ Switzerland’s private banking tech business, adding 160 staff and tech used by 40+ banks. Policy & Growth: Japan and India pledged deeper cooperation on security, economic security and energy, including supply-chain building. Local Economy Boost: Bellevue’s REACH campus project targets $125m in economic value and 150 jobs. Tech in Finance: RBC is piloting custom AI tools for wealth advisors to speed meeting prep and improve outcomes. Corporate Governance: UK MPs’ expenses disclosures show office and accommodation costs under IPSA rules.

Trade & Currency: Malaysia says a stronger ringgit is boosting export competitiveness, with Jan–May 2026 trade up 18.3% to RM1.455tn and exports up 24.3% to RM793.84bn, lifting the surplus 182.9% to RM132.77bn. Investment Zones: Johor–Singapore’s JS-SEZ is still in blueprint mode, but approved investments hit RM76.98bn in 2025, with 57% already moving into implementation. Tax Revenue Watch: India’s GST collections rose 13.9% in June to Rs1.95 lakh crore, driven by a 34.6% jump in import-related revenue; refunds also climbed faster. AI & Security: A warning on “shadow AI” highlights how employees using free tools can leak sensitive data without IT oversight. Tech Sector Reshuffle: Intel plans to cut about 12,000 jobs as it shifts toward data-center and IoT chips. EU Trade Pivot: The EU will lift import duties on most Armenian farm goods and offer duty-free access for about 80% of exports, aiming to reduce reliance on Russia. Energy & Jobs: Kentucky State Parks generated $1.1bn in economic impact in 2024, supporting 8,600 jobs.

Philippines Upgrade: President Ferdinand Marcos Jr. said the World Bank’s move of the Philippines into upper-middle-income status validates recent reforms and resilience. AI & Markets: Central bankers and economists warned at the ECB event in Portugal that the AI boom could amplify leverage, job displacement and financial instability. Semiconductor Stress: South Korea’s Kospi slid below 8,000 as chip fears spread after reports Meta may launch a cloud business to monetize excess AI computing power; Europe’s chip industry also faces a “bleak future” amid China export controls and US tech dependence. Meta Monetization: Meta will charge WhatsApp business users $2 per 1 million tokens from Aug. 1, shifting pricing from per-message to usage. Energy & Costs: UK diesel prices fell sharply in June as oil dropped; in India, IT-led market rebounds lifted Sensex and Nifty while energy stocks moved mixed. Trade & Commodities: Nepal resumed tea exports to India after eased rules; Indonesia rice prices rose despite record Bulog stocks. Business & Policy: Malaysia’s outlook stays at 4.6% GDP growth as AI and semiconductor investment support demand; Indonesia pushed Australian investment for downstreaming and green economy. Corporate/Legal: A Malta trial opened for businessman Yorgen Fenech over the murder of journalist Daphne Caruana Galizia.

Malaysia-Thailand Border Economic Zone: Malaysia’s economy ministry says the proposed Malaysia-Thailand BEZ will be negotiated with Thailand first, with studies now under review for Perak areas including Bukit Berapit and Pengkalan Hulu. Aviation Oversight: Khazanah Nasional backs Public Accounts Committee recommendations for Malaysia Airports Holdings, arguing they support long-term airport transformation and stronger reporting and integrity. Jordan Industrial Pulse: Jordan’s industrial sector grew 4.8% in Q1 2026, driving nearly 40% of overall growth, led by manufacturing and utilities. AI for Small Business: Xero is integrating with Microsoft 365 to push live financial insights into everyday workflows, while ProSight’s survey finds small firms prioritising growth, efficiency and cash-flow support. Agentic AI Caution: A new business-tech piece warns that agentic AI at scale can strain governance, security and costs, with many initiatives at risk if controls lag. Nigeria Jobs Push: The World Bank approved $1.25bn for Nigeria’s investment and jobs reforms across power, digital, agriculture and trade. AI Export Controls Eased: The US lifted export restrictions on Anthropic’s Claude Fable 5 and Mythos 5 after safety safeguards. Local Business Impact: In Albufeira, the mayor touts noise-rule results, but local businesses dispute the economic hit. Malta Trial: A businessman goes on trial over the 2017 murder of investigative journalist Daphne Caruana Galizia. Stocks: Markets were mixed as investors weighed Fed focus and Middle East relief, with bargain-hunting lifting sentiment in parts of Asia.

AI Export Controls Reversed: The US Commerce Department lifted export restrictions on Anthropic’s Claude Fable 5 and Mythos 5, with Anthropic saying it will restore access for users and business customers starting Wednesday after weeks of national-security scrutiny. UK Business Mood: Lloyds Business Barometer showed UK business confidence slid to 44% in June, with domestic firms citing cost pressures and global uncertainty. Ukraine War Costs: Ukraine’s economy ministry says Russian environmental damage from the full-scale invasion has exceeded 7 trillion hryvnias, spanning soil, water, air and biodiversity. Corporate Lending Tech: DNB went live on the nCino platform to modernise and scale corporate lending across international markets, with SME lending planned next year. Small-Business Credit Crunch (Greece): Reuters reports Greece’s backlog of non-performing loans is still blocking new borrowing for many households and small firms, despite broader recovery. China-EU Trade Talks: China and the EU launched a trade and investment consultation mechanism in Brussels, setting workstreams on export controls, IP and WTO reform. Manufacturing Pulse (Philippines): S&P Global said Philippine manufacturing PMI edged up to 50.9 in June, but confidence fell to a five-month low. SME Government Contract Financing (Malaysia): microLEAP, CASB and HDC launched an initiative to improve SMEs’ access to financing for government contracts via the SARANA P2P programme.

Semiconductors Rally: ASML and other chip-tool makers surged after Samsung Electronics and SK Hynix announced plans to build two chip plants each in South Korea, boosting optimism for equipment demand. AI & Jobs: OpenAI’s chief economist said Europe is well placed for the “intelligence age,” with AI likely reshaping roles rather than simply eliminating jobs. Air Travel Demand: IATA reported May passenger demand fell 2.2% y/y, with Middle East conflict weighing on carriers, even as load factors hit record highs for May. Clean Fuels Push: British Columbia reported sustainable aviation fuel reaching 3.9% of jet supply—five years ahead of its 2030 requirement—alongside higher renewable blends in diesel and gasoline. Policy & Business Climate: India’s PM Modi urged a whole-of-government push on “ease of doing business” and self-reliance, using integrated planning to cut departmental silos. Trade & Security: China added 40 Japanese entities to export controls/watch lists, escalating tech and defense-related friction. Local Economy Support: New Orleans’ NORA opened applications for food business microgrants up to $400,000 to upgrade shared commissary kitchens. Corporate Tax for Sport: Bulgaria’s draft bill would let companies redirect up to 20% of corporate tax to licensed sports bodies, with youth academies getting a required share. Market Sentiment: US consumer confidence ticked up on lower gas prices, but pessimism about the broader economy remains.

AI & Markets: The BIS warns AI spending is propping up growth, but could trigger the next economic crash if hyperscalers over-commit to uncertain returns. Tech & Consumer Discovery: Apple is set to roll out Apple Maps ads in the US and Canada in 2026, giving local businesses a new way to win “decision-ready” searches. EV Stocks: Tesla jumped after FSD V14 Lite rollout news, lifting Rivian and Lucid in a broader tech rebound. Trade & Supply Chains: China is tightening gold import/export rules by shifting oversight toward customs supervision, while China also added 20 Japanese entities to its export control list. Global Finance: Sudan and China agreed to cancel about $50m in interest-free debt as the conflict deepens economic strain. Business Policy (Malaysia): MITI says 23 initiatives under HIMP 2030 are underway to substitute imports of critical halal ingredients, and discusses subsidy rationalisation aimed at protecting MSME margins while funding automation, EV infrastructure and green energy. Regional Growth (Africa): Tanzania touts Afreximbank as a key partner in its push toward a $1tn economy by 2050. Corporate Moves: Anchor Loans opened a new HQ in Thousand Oaks to support its next growth phase.

Middle East Markets: US-Iran agreed to halt renewed hostilities and resume talks over the Strait of Hormuz, easing some pressure on oil after a volatile weekend; Asian shares still wobbled as investors weigh fragile diplomacy and rate-hike bets. China–Japan Trade War: China added 20 Japanese entities to dual-use export controls and expanded a watch list, tightening licensing rules as tensions rise over Japan’s “remilitarization” and prompting broader economic-security scrutiny. AI Chips & Stocks: NVIDIA’s China AI-chip lead is eroding after US export rules, while AI hardware demand still lifts chipmakers—yet broader tech sentiment stays shaky. Renewables in Cold Regions: China’s first solar thermal power station in Jilin began generating, using molten-salt storage to cut curtailment and improve clean-energy reliability. Japan Post Privatization Debate: Japan Post faces renewed questions about drifting back toward state control as public funding and shareholding requirements expand. Business & Policy: Malaysia and the EU advanced MEUFTA talks toward a 2027 finish; Nigeria’s NCC chief is set as guest at a fintech roundtable, while Bangladesh’s budget pitch targets rebuilding after years of crisis.

Global Markets & Policy: The BIS warned that public debt, financial fragilities and the sustainability of the AI boom are raising risks, urging disciplined policymaking to avoid inflation expectations getting “entrenched.” Fed Watch: EY-Parthenon’s Greg Daco says investors may be pricing the wrong Fed path, arguing the shift toward a tougher stance could be misread. Trade & Tariffs: Nigeria’s CPPE urged senators to drop a proposed textile import ban, warning it could disrupt supply chains and threaten about 10m jobs. Asia—Growth Outlook: Capital Economics expects the Philippines’ recovery to stay sluggish, forecasting 3% GDP growth this year and below-target expansion through 2028. Food Policy: The Philippines is moving toward safeguard measures on imported rice after finding import surges are harming domestic farmers. Business & Regulation: India’s GST is entering its 10th year with Deloitte finding 99% of firms reporting positive or neutral experiences, while Malaysia’s Langkawi pushes better flight and ferry links to boost SME competitiveness. Corporate Restructuring: Saks parent exits Chapter 11 as Exemplar Luxury Group, cutting debt and refocusing on affluent customers. Local Business Reality: A Mangaluru eviction drive cleared roadside vendors near Town Hall, while a US startup Flush Locks is monetizing restroom access with cashless smart locks.

World Cup Spillover: Malaysia’s economist says FIFA 2026 could lift its F&B takings by RM1.2bn–RM2.1bn, but in New York/New Jersey some stadium-area businesses report little customer boost as fans route straight to Manhattan. Corporate Appointments: VinFast India names former HMSI executive Vineet Srivastava Deputy CEO for e-scooters, signaling a push to scale sales and financing. Investment Climate: Nigeria’s Delta State unveils reforms to make land administration, investment facilitation, PPPs, revenue, security and dispute resolution more predictable for investors. IMF Support: The IMF approves a $350m disbursement for DR Congo to back reforms, infrastructure, social protection and reserves. SME Power: Nigeria’s VP Kashim Shettima reiterates MSMEs are 90% of businesses and 60m jobs, as awards and policy messaging continue. Business Compliance: Philippines regulators warn cafés and shops can face copyright trouble if they play music without proper licensing. Local Economy Watch: Coventry expects a Premier League boost after promotion, while some New Jersey businesses say the World Cup hasn’t translated into local spending. Education & Growth: Morningside University breaks ground on a new business school home, aiming to open by Jan 2028.

AI & Jobs Anxiety: Nobel economist Robert Shiller warns AI “job doom” fears could become self-fulfilling, as polls show most Americans expect fewer jobs. Markets: The S&P 500 and Nasdaq lose momentum as investors reassess AI stock valuations and the sustainability of AI spending. MSME Push: Nigeria’s Tinubu approves free corporate registration for 250,000 MSMEs nationwide, aiming to cut financial and bureaucratic barriers to formal business. Corporate Restructuring: India’s Pricol approves a demerger to split driver information and connected vehicle solutions into Pricol Autotech, sharpening focus and capital allocation. Local Business Climate: Fort Myers expands downtown free parking from one to two hours to boost short-stay shopping and dining. Energy & Green Transition: Malaysia’s Sarawak shifts toward a low-carbon, tech-led economy, using AI for services and positioning forests as carbon-sink assets. Insolvency Watch: India’s NCLT admits insolvency proceedings against Supreme Engineering on Bank of India’s ₹117.50 crore petition. Small Business Tools: Sun Prairie launches an online data hub to help firms find properties and expand faster.

Markets & Policy: Wall Street stayed under pressure as AI-related chip stocks slid, while investors debated whether stocks are due for a correction; in Europe, CFOs in the Netherlands turned more cautious amid uncertainty and higher energy costs. Tech & Trade: India’s IT services are already earning $10–12bn from AI work, and the government is pushing export growth via a refreshed Export Promotion Mission. Cybercrime & Business Risk: A Gujarat probe says cybercriminals built a nationwide “franchise” network to move fraud proceeds through mule accounts and hawala channels, while Tennessee warned businesses about third-party mailers charging excessive fees for annual filings. Local Economy & Small Business: Wisconsin’s SBA reminded firms to apply for disaster loans by June 11, and Montana urged people to verify school fundraising requests after unauthorized solicitations; in Utah, fireworks restrictions are worrying local retailers. Global Business: Saks emerged from Chapter 11 as Exemplar Luxury Group, and Auchan Hungary completed full ownership by Indotek after improving operations. Community & Resilience: NYC businesses and residents launched donations for Venezuela after an earthquake, and Pride organizers expect a major downtown spending boost despite reduced corporate DEI support.

Markets & Trade: US stocks slipped as a tech sell-off deepened and the goods trade gap widened, with imports rising and exports falling sharply—an uneasy mix for growth-minded investors. Corporate Finance: IMF chief economist Pierre-Olivier Gourinchas said the world remains firmly “dollar-centered,” even as gold and stablecoins gain attention. Tech & Valuations: European shares closed weaker amid worries about tech valuations and reports OpenAI may delay its public debut. Policy & Business Costs: In New Zealand, banks are debating whether new prudential and AML/CFT levies will be absorbed or passed on—raising uncertainty for lenders and advisers. Local Economic Development: Sun Prairie launched a new digital economic development platform to help businesses find sites and resources faster, while North Carolina highlighted destination small businesses in Surry County. Community & Jobs: Malaysia’s MIGHT showcased a low-altitude economy “mini sandbox,” pitching major GDP and job potential by 2030. Business & Society: A UK report found Glasgow School of Art generates £115m+ annually for the economy, and a North Carolina school segregation report ranked the state among the most economically divided.

Decentralized Energy in India: As power demand rises with digital infrastructure, businesses are turning to rooftop solar, open access procurement, behind-the-meter storage and microgrids—raising new questions on regulation, financing and grid integration; Mercom India’s Renewables Summit will tackle “Decentralized Energy: Unlocking Consumer-Led Clean Power” on July 1 in New Delhi. ASEAN Power Grid Push: Sarawak Energy is driving Borneo interconnections, exporting to Kalimantan since 2016 and to Sabah since last December, while discussing links with Brunei and a potential Sarawak–Singapore subsea cable. Malaysia Advanced Packaging Drive: Malaysia launched an RM185m RDICE programme to lift capabilities in advanced packaging, targeting a 7% global market share with five local semiconductor firms and universities. Ardonagh Insurtech: Ardonagh Group rolled out Axiiem to connect data, distribution and capacity for specialty insurance, aiming to speed digital trading and improve how portfolios move across markets. AI and Corporate Risk: A Clyde & Co report says tech risk is surging—86% of leaders now rate it high-risk—as AI adoption reshapes governance, regulation and reputation. Markets Hit by Tech/AI Jitters: Asian stocks slid after Apple’s price hikes and renewed Strait of Hormuz security concerns; crypto also sold off alongside a broader tech pullback. UK Trade Pressure: UK food and drink exports fell 4.8% y/y to £5.7bn in Q1 as US tariffs and Brexit frictions bite, with US shipments down sharply. Queensland WorkCover Freeze: WorkCover premiums were held for a second year, with a fraud crackdown and a lower levy for contract cleaning. Sri Lanka Knowledge Exports: Sri Lanka’s knowledge and innovation sector hit $581m in export revenue in the first four months of 2026, underscoring growth beyond IT/BPM into data, AI, cybersecurity and services.