AGP Executive Report

BRICS Deal-Making: The 18th BRICS summit in New Delhi backed new cooperation mechanisms spanning technology, security and economic development, including an integrated infectious-disease response system, logistics supply-chain work and a BRICS Startup Innovation Fund. Global Trade & Energy: Egypt’s President El-Sisi met India’s PM Modi to push bilateral trade to $12bn, with focus on manufacturing, clean energy and automotive—while Ukraine’s economy continues to be hit by Russian strikes. Local Business Pressure: Rotorua retailers say CBD parking changes are crushing foot traffic, with at least one shop relocating after sales fell sharply. Policy That Hits Imports: Bangladesh Bank issued guidance implementing the Import Policy Order 2026-2029, easing trade by allowing imports under sales contracts without letters of credit and enabling open-account payments. Corporate Finance Watch: US investment-grade bond issuance jumped 27% year-on-year as Treasury yields near 5% push treasurers to decide whether to borrow now or wait. AI & Markets: Calls to slow the AI race are expected to weigh on chip and supply-chain stocks near term, even as infrastructure spending stays strong. Health as Economics: BusinessNZ urged smarter health spending in New Zealand—shifting from hospital-only funding toward medicines, prevention and workforce planning.

BRICS Summit Watch: India’s PM Modi pushed “inclusive global growth” and cooperation as BRICS leaders met in New Delhi, with Middle East tensions shaping talks. Geopolitics & Trade: China hit back at US claims of economic espionage, warning that rivalry in semiconductors and biotech is escalating. Finance & Markets: Foreign portfolio investors pulled out Rs 14,474 crore in September so far as crude jumped on Middle East risk, while domestic investors absorbed the selling. Corporate Actions: Over 200 Indian stocks set dividend and stock-split record dates this week, from Sept 14-18. Energy & Food Security: The World Bank says the Middle East and South Asia need about $12bn a year to turn food security into an economic opportunity via irrigation and innovation. Business & Policy: Malaysia reported RM9.4bn timber exports in H1 2026 as it moves up the value chain into furniture and fragrances. Banking & Payments: Nubank’s US launch spotlights stablecoins for cross-border remittances, aiming to cut fees and speed transfers.

WTO Reform Push: BRICS called for restoring a fully functioning two-tier WTO dispute system and warned that unilateral tariffs and non-tariff barriers are disrupting trade and supply chains. AI Safety vs Speed: Anthropic CEO Dario Amodei, backed by Sam Altman and Elon Musk, urged AI firms to slow “frontier” progress so safety checks can catch up. Markets & Rates: Taiwan’s Taiex slid 755 points as US rate-hike fears hit tech; in the US, stocks held up despite higher bond yields, while Bitcoin struggled to reclaim $80,000. Tokenized Finance: Coinbase is expanding tokenized stocks on Base, with 1:1 claims on real shares already drawing heavy decentralized trading. Russia Banking Outlook: Russia’s central bank lifted 2026 profit forecasts, even as it flagged rising corporate loan stress tied to war-linked lending. Ukraine War Costs: Kyiv estimates Russian strikes could drive up to $10bn in business losses this year and cut GDP by 1.5 points in 2026. Local Business Pressure: Arvada debated paid downtown parking, with shop owners warning it could dent sales. Africa Infrastructure & Trade: Julius Berger Nigeria and Lagos state highlighted big infrastructure investment goals, while Ghana’s president inspected a 24-hour economy market under a push for local trade.

BRICS Summit Watch: Finance chiefs and central bank governors meeting around BRICS are pushing for bigger emerging-economy representation in global institutions, warning that tariffs, fragmentation and debt risks are rising as the bloc seeks more practical cooperation. Global Trade & Security: Leaders gather in New Delhi as wars reshape energy and trade conditions, while journalists highlight local-currency trade and digital payments as the business focus. UK Farming Policy: England’s new Farming Roadmap lays out how landowners and rural firms can stay profitable while meeting nature and climate goals, but signals more regulation ahead. Malaysia Investment & Connectivity: Selangor says services and manufacturing are driving investment momentum toward RM80bn, while Malaysia’s economy minister stresses renewable energy and connectivity plans under ASEAN sub-regional cooperation. Ease of Doing Business (India): Telangana passed a bill to decriminalise minor offences and cut regulatory burden, aiming to help small businesses access loans. Corporate & Market Moves: Top Glove expects improved earnings on stronger demand and higher selling prices; Boeing’s KC-46A export deal ceiling jumps to $19.1bn without new aircraft orders. SME Finance (Nigeria): FinStore says SMEs on its platform can access loans up to N100m to expand. Business Risks: A Lagos police operation arrested suspects behind fraud syndicates targeting traders and business operators.

Markets & Rates: US stocks rebounded as oil eased and inflation data landed near expectations, lifting the S&P 500, Dow and Nasdaq while traders pushed odds of a Fed rate hike higher. Trade & Tariffs: The White House moved to tighten Section 338 import bans on Canadian products, escalating a tit-for-tat dispute after Canada’s retaliatory tariffs. Policy & Economy: Malaysia’s Economy Ministry said next year’s spending will prioritize people-impacting projects and resilience, while the Knowledge Economy ministry met an Italian delegation on innovation and entrepreneurship. AI & Jobs: A Chinese academic urged firms to avoid panic over “AI layoffs,” arguing many cuts are really broader business adjustments. Business Operations: FedEx launched a Shopify checkout tool to show duty-and-tax guarantees and reduce surprise import charges. Local Business Impact: BC Ferries’ China shipbuilding plan drew union claims of $1.5B economic cost to B.C. Compliance Watch: Pennsylvania police told businesses to physically remove skill game terminals ahead of the Oct. 13 deadline. Corporate Moves: Modivcare appointed Matt Williams as chief corporate affairs officer.

BRICS Business Forum: India’s Jaishankar urged transparent trade and investment, predictable logistics, and “greater self-reliance” to help firms find partners and markets as the BRICS summit gets underway in Delhi. Trade & Diplomacy: Armenia’s Pashinyan and Uzbekistan’s Mirziyoyev pushed to expand trade and economic ties and unblock regional communications. UK Economy: Britain’s GDP surprised to the upside with 0.4% growth in July, led by AI-linked services, giving momentum ahead of the next budget update. Markets & Energy Costs: Nigeria’s NGX edged up as bargain-hunting returned, while UK small businesses reported delaying growth plans due to energy and cost pressures. Policy for Growth: Malaysia’s Budget 2027 debate is shifting from data centres to enterprise adoption, IP, cybersecurity and workforce productivity, alongside calls to cut bureaucracy and reduce the cost of doing business. SME Financing: Russia launched preferential lending for SMEs hit by attacks on Wildberries facilities, while China is pushing private investment via 36 recommended projects. Business Risk Watch: A food business in Bradford was warned after hygiene breaches, including sneezing and handling food with dirty gloves.

Markets & Inflation: U.S. wholesale prices rose again in August as oil costs stayed elevated, while investors brace for the next CPI read ahead of the Fed meeting; Energy Shock: Oil jumped above $100 a barrel after Iran-linked shipping disruption fears, with Treasury yields climbing and stocks slipping; Policy & Trade: The EU is seeking input on updating VAT rules to better fit circular-economy goals, while Canada’s internal trade strategy remains a work in progress for grocers; Business Regulation: Namibia’s FIMA rollout is reshaping financial oversight for medical aid funds, and a U.S. case highlights enforcement against unlicensed body-piercing operations; Digital Payments: India’s Central Bank of India launched “Bharat Connect for Business” to streamline B2B invoicing and collections, and RBI’s Malhotra urged fintechs to treat data as a fiduciary duty; Global Deals & Growth: Turkey and Egypt began joint HAMZA-1 drone production with an export deal, and Algeria and Uzbekistan agreed to form a joint business council; Local Economy: Salinas’ Maya Cinemas permanently closed after two decades, and Albany released a final nightlife-economy report aimed at making the city safer and more active at night.

Energy & Markets: Oil pushed back above $100 a barrel as US-Iran tensions and Strait of Hormuz attacks stoked inflation fears, dragging Asian stocks lower and raising the odds of tighter central-bank policy. Africa Business Finance: South Africa’s rand edged up ahead of key manufacturing, mining and current-account data, while Nigeria’s equities slid 1.05% as investors positioned for the Dangote Petroleum Refinery IPO. Dealmaking & Capital: EIG closed its Senior Infrastructure Debt Fund VI at $1.9bn, nearly doubling the prior fund, betting on senior secured debt for power and infrastructure in the US and Europe. Trade & Investment Platforms: Malaysia will bring 67 firms to China-ASEAN Expo to expand market access, while South Korea and African nations at KOAFEC discussed AI, power and data-centre investment partnerships. AI for Business: Sembly 3.0 aims to automate creation of client-ready documents from internal materials, and General Robotics says it cut robot onboarding from a month to hours. Local Economy & Policy: Namibia’s NIPDB matched green-economy projects with investors, and Jersey launched a minimum-wage impact survey to assess effects on jobs, prices and investment. Corporate/Regulatory: Kenya charged a Nairobi businessman over alleged Ksh15.1m investment fraud; Huawei’s racketeering trial began in New York.

Markets & Energy: U.S. stocks slid again as Treasury yields climbed and oil jumped above $100 amid renewed U.S.-Iran tensions, with the S&P 500 down 0.48% and the Nasdaq down 0.64%. Malaysia Growth Story: S&P Global said Malaysia’s outlook stays resilient, led by manufacturing, infrastructure spending and a fast-growing data-centre sector. Trade & Diplomacy: Armenia and Turkey business groups urged normalization via open border crossings and stronger trade links, while a separate warning from a top U.S. diplomat said any Taiwan Strait conflict could shock the global economy and semiconductors. Business Support & Local Economy: South Dakota approved $1.4m in aid for business expansions, and Cincinnati owners complained that night street closures near the University of Cincinnati are cutting customer traffic. Policy for Firms: Singapore launched the BizSG portal to simplify access to government business services. AI & Skills: Namibia’s NOVA Institution of AI is training future-ready technicians through practical, project-based programmes. Crypto & Crime: The UK’s National Economic Crime Centre flagged crypto assets as a top laundering priority and wants a more proactive crypto capability.

Trade & Tariffs: The US escalated its trade spat with Canada via new import bans and directives covering autos, components, alcohol and dairy, while Quebec’s counter-tariffs are projected to add $1.5B to the province’s economy. Markets & FX: Nigeria’s naira edged up at the official market, but the NGX saw heavy selling pressure that wiped N1.88tn in value in a day. Energy Risk: Oil stayed elevated after Houthis attacked Saudi energy facilities, prompting temporary operational pauses and raising supply worries. Aviation Disruption: UK flight chaos continued as Nats’ CEO faced scrutiny after 1,300+ cancellations, with the transport secretary set to meet him. Infrastructure & Investment: India’s Adani Airports is raising about $1B by selling a 5.54% stake, valuing the airport business near $18B, while Egypt’s Suez Canal Economic Zone targets nearly 400 factories within two years. AI & Business Tech: Vodafone Business and Cassava Technologies launched Egypt’s first sovereign AI factory; MTN Ghana pushed cash-lite services toward informal operators. Food Supply: Pakistan approved importing 750,000 tonnes of wheat and opened an international tender for distribution across provinces.

Trade & Tariffs: Canada’s retaliatory tariffs hit about 560 U.S. product lines (roughly 8% of U.S. exports to Canada), with analysts warning of knock-on costs for steel, aluminum and agriculture. Energy & Markets: Middle East attacks on energy infrastructure pushed stocks lower while oil rose; Brent climbed to about $98.7/bbl and WTI to about $93.7/bbl. Politics & Spending: A U.S. Supreme Court ruling lets political parties access cheaper TV and radio ad rates, potentially boosting Republicans as midterm spending ramps up. Housing & Rates: A housing market data roundup points to slowing summer momentum as mortgage rates rise again, with existing-home sales down and affordability pressures weighing on new builds. Food Exports: Bangladesh cut aromatic rice export quotas by 50% and set a minimum FOB price to stabilize domestic retail prices. Agri Trade Deal: South Africa signed a protocol to open China for cherry exports, aiming to tap China’s large cherry import market. Business Expansion: C Spire is adding a new 200-mile Mississippi fiber corridor to support the AI economy, targeting thousands of organizations along the route. Digital Economy: Azerbaijan and Huawei discussed digital and green tech cooperation, including local R&D centres.

Markets & Energy: Nigeria’s stock market eked out a 0.29% gain to push market cap back above N160trn, while crude prices climbed toward $100 amid Middle East tensions, lifting UK and global risk sentiment but keeping investors cautious. Trade & Policy: Canada’s retaliatory tariffs on about $20bn of U.S. goods took effect, escalating a trade war that’s drawing global attention; in Romania, stagflation fears are rising as growth stalls and inflation bites consumption. Business Climate: Britain’s night-time economy warned that possible further tax rises could speed closures, even as the government talks up growth. AI & Infrastructure: UK firms cut consulting spend as more businesses shift to AI; in Malaysia, Maxis is expanding optical capacity for AI-ready data centres, and the country is planning more gas-fired power as coal phases out. Regional Growth & Food Security: Malaysia targets renewable-led investment in the East Coast and supports smallholders with funding for roads and replanting; China cut aromatic rice export quotas by 50% to protect domestic supply. Africa & Governance: Liberia launched a youth business technical assistance program to help MSMEs access financing, while an Africa political parties summit in Ethiopia will focus on leadership for economic transformation.

UK Red Tape Cut: The UK government says new corporate reporting rules will cut SME paperwork costs by £450m a year, using a digital-first approach and fewer audits. AI Governance & Pricing Pressure: OneAccord released a new AI leadership/governance playbook, while regulators and consumer groups warn that personalised pricing could use loyalty and personal data to set what each customer pays. Nigeria Budget Credibility: Nigeria moved to eliminate conflicting economic projections across ministries by harmonising oil, exchange rate, inflation and revenue assumptions to improve budget planning. GCC Integration Push: GCC leaders said Gulf integration is now driving investment and diversification beyond oil, citing large sovereign wealth and trade figures. Payments Deal: PayTabs agreed to buy Amazon Payment Services’ MENA operations for $100m+, aiming to process $40bn annually. Markets & Energy: Global stocks were mixed as chip shares rose in Asia; oil hovered near $100 amid Middle East tensions, while bitcoin slipped below $80,000.

UK Budget Push: The British Chambers of Commerce urged Chancellor John Healey to scrap the state pension “triple lock” for inflation-linked rises, saying it could free about £3.3bn over two years to back youth jobs, alongside calls for lower energy costs, business rates relief and more export support. Markets & Rates: Asian stocks climbed on a strong US jobs backdrop and higher oil, while investors weighed Fed rate timing; in New Zealand, the NZX 50 slipped as rate-sensitive landlords weighed and oil stayed elevated. Energy & Geopolitics: Australia’s ASX 200 edged up as energy gains offset tech weakness, with crude rising on renewed Iran-linked tanker attacks and Hormuz risk. UK Housing: Lloyds reported the first annual fall in UK house prices since late 2023, pointing to higher borrowing costs and uncertainty keeping buyers and sellers on the sidelines. Local Business Red Tape: Quezon City waived barangay clearance fees for “nano” enterprises and rolled out secure electronic payments across 142 barangays to cut queues and paperwork. Trade & Investment Deals: Lao chili producers secured letters of interest with verified buyers at an FAO-backed matching event in Vientiane, while Georgia said it will invest $700m in the Anaklia deep-sea port, targeting operations in 2029. Corporate Moves: Brazil’s Anatel approved Metodo’s conditional acquisition of Oi’s fixed telephony assets, with service obligations running to 2028. Funding Watch: India’s Lickicious raised Rs 19 crore to expand pet nutrition manufacturing and R&D, and Malaysia saw RM11.1bn of foreign inflows into government bonds in August.

Iran–US Energy Pressure: Iran raised petrol prices for heavier users in a tiered system as US sanctions tighten, while US Energy Secretary Chris Wright said the focus is boosting production to ease prices rather than restricting exports. Global Macro Tug-of-War: The IMF framed the world economy as pulled between an oil shock that threatens inflation and an AI investment boom that could lift productivity. Market Mood: Wall Street heads into September with investors watching rates, inflation and geopolitics for a possible correction, even as jobs data stays strong. Bangladesh Trade & FX: Bangladesh’s gross forex reserves hit about $36.4bn, and Standard Chartered Bangladesh with UK Export Finance discussed financing to deepen the Bangladesh–UK trade corridor and export diversification. Africa Business Support: B Lab Africa launched its 7th Resilient Sustainable Business cohort, and AXIAN with AfDB backed a programme to expand finance for 34,000 women-led enterprises. Tech & Energy Costs: Data centers are becoming “business-critical” as cooling and power demand rise with AI workloads. Local Business Risk: In New York, a lawsuit challenges NYC’s city-backed grocery plan as neighborhood grocers warn it could put family stores out of business.

UK Economy: Economists expect UK GDP to dip 0.1% in July, with July weakness likely dragging Q3 after a strong June helped by football and hot weather. Brexit Impact: Stanford economist Nick Bloom says Brexit may have cost the UK 6–8% of GDP—money that could have transformed NHS waiting lists if recouped. Malaysia Energy & Rates: Bank Negara Malaysia kept the overnight policy rate at 2.75% as inflation stays contained, while the government says fuel supply is stable despite higher-price risks from West Asia shipping disruptions. Qatar Outlook: Fitch affirmed Qatar’s ‘AA’ rating with stable outlook, citing easing LNG threats and a rebound as North Field expansion ramps up. Global Markets: Goldman Sachs expects global equity gains to slow to 5–9% over the next year as bond yields constrain upside. India Exports & Energy: India is emerging as a key diesel supplier to Europe amid Russia export slumps, with flows through Bab-el-Mandeb still holding up. Business & Policy: Bangladesh private economic zone developers want a Tk10,000 crore low-cost, long-tenor fund to make sites investment-ready; Cyprus passed a law to create a business development organisation to plug SME funding gaps. Tech & Work: A reported shift in FinTech sees senior developers moving toward fractional roles amid burnout and AI anxiety. Local Disruption: Nepal’s highway collapse is forcing alternative LPG and fuel routes into Kathmandu Valley, while Malaysia Airlines and Batik Air cancelled flights due to volcanic ash affecting Jakarta operations.