AGP Executive Report

Canada–B.C. Energy Deal: Prime Minister Mark Carney keeps B.C.’s north-coast oil tanker loading ban while unveiling a Canada-B.C. Cooperative Prosperity Agreement, including $3.5B for the North Coast Transmission Line, $500M for the Red Chris Mine expansion, and $3B for the George Massey Tunnel replacement. US Labor Market: The US added 57,000 jobs in June (below forecasts), with unemployment slipping to 4.2% as labor force participation fell; markets reacted with a softer Fed-rate outlook. EU Tech Crackdown: A top EU court upheld the European Commission’s record $4.9B Android antitrust fine against Google, reinforcing Big Tech enforcement pressure. AI + Privacy Business Tech: RAEK partnered with Termly to help firms collect and activate first-party data with consent and compliance tooling. Corporate Finance: Sun Life completed its acquisition of Bell Partners; Kite Realty closed a $345M notes offering; Compass launched an AI “Home Platform” for real estate agents. Canada Economy Signals: Aon says Canadian defined-benefit pension funded ratios rose to 116.7% in Q2. Local Growth: Downey, California approved a Costco warehouse and gas station plan, while Ottawa hosted a free World Cup watch party at LeBreton Flats.

USMCA Talks: Mexico says the US won’t automatically extend USMCA for 16 years and is pushing changes on rules of origin, plus a new “economic security” chapter tied to strategic minerals and supply-chain protection. Labour & Compliance: Spain’s economy minister wants to move “as soon as possible” on digital timekeeping rules after a union ultimatum, aiming to speed overtime compliance. IMF Watch: Jordan’s reform program is “on track” but growth is marked down to 2.7% in 2026 as regional conflict hits tourism, trade and energy costs. China Lending Shift: China’s finance ministry plays down reports of a World Bank lending phase-out, saying cooperation is moving toward knowledge sharing. Markets (India): Sensex and Nifty jumped as crude eased and IT stocks rallied; the rupee gained on lower oil and bond inflows. Policy & Work: India’s EPF Scheme 2026 streamlines partial withdrawals and tightens digital verification for faster claims. AI & Jobs (North Carolina): Governor Stein’s AI roadmap targets worker protections, fraud prevention and AI literacy while reshaping government services. Deal Flow: Kotak Mahindra Bank buys a Rs 9,587.62 cr loan portfolio; Texmaco Rail wins Rs 351.16 cr in rail orders; Zensar shares surge on IT buying. Care Economy Funding: Pivotal Ventures backs Magnify’s $46.6m Fund II for AI tools in caregiving, health and wealth management. Trade & Logistics: DP World’s Egypt hub launches a logistics distribution centre to speed deliveries and add services for regional customers. Blue Economy (Odisha): Cabinet nods major deep-sea fishing mission to boost jobs and marine exports.

AI Governance in Healthcare: A new report highlights how doctors are using AI tools for clinical documentation, but raises legal and compliance questions when consumer chatbots handle patient data without proper safeguards. Diabetes Tech Update: Tandem’s t:slim X2 insulin pump is now compatible with Abbott’s FreeStyle Libre 3 Plus CGM in the UK, Switzerland, Sweden, Finland and Italy, with more countries planned later in 2026. Monetary Policy Watch: Fed chief Kevin Warsh reiterated the 2% inflation target and warned against expectations of looser policy, stressing central bank independence. US Economy Signals: A key manufacturing survey showed activity cooling in June after a four-year high, with hiring still supported by an AI investment boom. Antitrust in Real Estate: Zillow, Compass and MRED face a court fight over listing access, with a judge weighing whether to lift a temporary restraining order. Public Spending & Infrastructure: Armenia approved Lake Sevan wastewater modernization and Yerevan backed metro, electric buses and metro upgrades with major funding. Regional Development: Malaysia says its Malaysia-Thailand border economic zone plan will be negotiated with Thailand before rollout, with studies underway. Fuel Market Disruption: Nepal saw private fuel stations shut after price cuts, creating shortages and queues. AI Agent Economy: A push for autonomous AI agents is growing, but the piece warns that control, security and responsibility frameworks haven’t caught up.

AI & Trade Controls: The US lifted export restrictions on Anthropic’s Fable 5 and Mythos 5, with the company saying global access will be restored after earlier national-security limits. Housing & Rates: UK house prices were broadly flat in June as mortgage-approval weakness and Middle East-driven energy uncertainty cooled demand. US Politics & Immigration: The Supreme Court rejected Trump’s birthright citizenship order, but Republicans are still pushing bills to restrict automatic citizenship at birth. Tech Investment in China: UBS says China’s AI data-center buildout (about 2 trillion yuan over five years) could drive a structural uptrend for semiconductors and related hardware. Circular Economy & Recycling: South Africa’s recyclers are urging an urgent review of scrap-metal rules after a draft circular-economy plan left the sector out of consultations. Markets & Sentiment: India’s Sensex and Nifty rebounded sharply, while investors stayed cautious over US-Iran escalation and monsoon progress. Local Economy Boost: Wirral council is earmarking £4.17m for regeneration, with Birkenhead Park set for major restoration to raise visitor spending.

Bangladesh Budget: Bangladesh’s Jatiya Sangsad passed a Taka 9.38 lakh crore FY27 budget, targeting 6.5% growth and 7.5% inflation, with a “3R” recovery plan aimed at moving toward a US$1 trillion economy. India Industry Pulse: India’s Industrial Output rose 5.1% y/y in May, led by a power surge (electricity up 9.9%) while mining lagged. Sri Lanka IMF Watch: The IMF says Sri Lanka remains exposed to external shocks even as energy pressures ease, urging tighter spending, reserve rebuilding, and continued reform under its $2.9bn program. Canada Politics & Economy: Conservatives named a new finance critic and renewed recession claims despite Statistics Canada showing April GDP growth. Healthcare Tech & Care Access: FDA cleared Bioness PoNS for chronic-stroke gait deficit; meanwhile, US primary care access is slipping for young adults and AI is reshaping how patients seek advice. Wall Street & Markets: Nasdaq and S&P 500 climbed on July 1; tokenization and stablecoin competition also stayed in focus. Corporate Moves: Geojit reiterated BUY on Dalmia Bharat; ICICI Securities backed Exide Industries with a higher target.

UK Economy & Living Standards: The UK grew 0.6% in Q1 2026, but real household disposable income per head fell 0.8% and the saving ratio slipped to 8.9%, underscoring that faster GDP isn’t translating into better day-to-day finances. Germany Jobs: Germany’s unemployment unexpectedly fell in June to 2.984 million, with the jobless rate steady at 6.3%. China Manufacturing: China’s factory activity edged into expansion in June, with the manufacturing PMI rising to 50.3 and new orders improving, offering a modest boost amid property and consumer headwinds. Argentina Debt Deal: Argentina completed a local-law Bonar 2028 bond placement to fund a $4.2bn July 9 payment, relying on domestic market funding at a 7.56% nominal rate. Markets & Finance: Securitize cleared its NYSE debut after shareholders approved its merger, while Berkshire Hathaway agreed to buy the remaining 20% of Pilot Travel from the Haslam family. India External Debt: India’s external debt rose to $762.8bn by end-March, driven mainly by non-government borrowing. Shipping & Ports: MSC will buy a 49% stake in Adani’s Vizhinjam port for $1.4bn, aiming to shift more cargo routing toward India. Tourism Pressure (UK): A tourism industry push warns the visitor economy is in “managed survival,” calling for VAT cuts on accommodation to stay competitive.

Creative Economy & IP Commercialization: Malaysia’s MyCreative Ventures says it will shift from funding projects to helping creators commercialize IP, scale products, and expand market access under the Orange Economy agenda. Digital Infrastructure: Ukraine’s Kyivstar plans an AI data center with the Ministry of Economy, aiming to boost digital sovereignty and attract investment. AI Workforce & Skills: Mission Control AI unveils “Bob,” a wearable meant to capture retiring experts’ know-how and keep critical operations running. Trade & Mobility: Canada’s internal trade ministers met to push further liberalization and improve labour mobility across provinces. Food Security: Canada’s parliamentary secretary will announce Toronto’s National Food Security Strategy launch to strengthen local food systems. Business Expansion: FyterTech Nonwovens buys SpilKleen to deepen its Canadian spill-control distribution footprint. Markets Watch: Nasdaq schedules its Q2 2026 results call for July 23. Energy Costs (Practical): UK Ofgem’s price cap rise is driving new advice on cutting household electricity use. Crypto Payments: Bron partners with Noah to add stablecoin on- and off-ramps for self-custody users. Local Economy Stories: Bhaktapur reports 40 tons of taichin chiura sold in a day; Chitwan hosts Indian dairy farmers for production and distribution study visits.

Circular IT in Africa: Qrent says circular, refurbished technology is shifting from ESG-only to a boardroom cost-and-resilience strategy as budgets tighten and supply-chain scrutiny rises. Turkey Business & Trade: Türkiye’s economic confidence index rose 1.8% in June, while the leather sector is rolling out “hotel exhibitions” to match Turkish firms with pre-screened buyers. Housing & Cities Beyond Bricks: Australia’s housing outlook stays cautious on broad collapse, but uneven corrections loom; a separate focus on arts and live culture argues cities need experiences, not just infrastructure. Energy & Geopolitics: Oil prices edged up as Strait of Hormuz disruptions return amid US-Iran tensions. Global Growth Risks: WEF warns economic fragmentation could cut world GDP by up to $6.9tn, while BIS flags “pressure points” threatening the global economy. AI & Chips: South Korea announced a record $520bn chip investment with Samsung and SK hynix, and China’s factory activity is seen returning to modest growth on AI-linked exports. UK Rates Watch: Bank of England chief economist Huw Pill warns against complacency as inflation stays above target. Circular Economy in Practice (India): Tata Motors and Castrol India launch a used-engine-oil collection and recycling pilot in Karnataka. Crypto Market: BitMEX removed its CEO/CFO and other executives as it streamlines ahead of a potential buyer.

Philippines Growth Outlook: Capital Economics says the Philippines will grow at just 3% in 2026, with recovery staying sluggish through 2028 as weak confidence, tight fiscal policy, and lingering shock effects weigh on activity. SME & Connectivity Push (Malaysia): Langkawi’s government is stepping up flight and ferry links to boost tourism and expand SME competitiveness, with entrepreneurs flagging tax and import-export frictions. Digital Identity Reform (Nigeria): President Tinubu signed the NIMC Act 2026, upgrading Nigeria’s digital identity and trust infrastructure and positioning the commission as a root certification authority for secure authentication. AI Demand Signal (Taiwan): TSMC reported a 30% revenue jump in May on AI chip demand, reinforcing the tech spending cycle that also matters for broader infrastructure. Space Economy Data Layer: Coverage highlights that beyond launch and broadband, Earth-observation data is a subscription-driven market, with Planet Labs posting record revenue and a large backlog. Crypto Finance Shift (Venture/Banking): Framework and SBI-linked deal activity point to stablecoins and tokenized financing as the next growth engine, alongside Japan’s crypto consolidation. India Informal Economy Measurement: India plans a new high-frequency index for unincorporated enterprises to better track the informal sector beyond annual surveys. Used-Car Financing (India): OLX India and IDFC FIRST Bank partner to offer digital used-car loans, aiming to convert buyer intent into completed purchases. Ghana 24-Hour Economy Market: President Mahama broke ground on a 24-hour market in Assin Bereku to create jobs and spur round-the-clock local commerce. Bangladesh Industrial Policy Debate: Commentary argues industrial stagnation persists due to deeper structural incentives, not just logistics or energy bottlenecks.

MSME Push in Pakistan: Pakistan’s PM aide Haroon Akhtar Khan marked World MSME Day, calling MSMEs the backbone of the economy (about 7.14m firms; ~40% of GDP; 30% of exports) and linking competitiveness to AI, digital transformation and export-led growth. GST at 10 (India): As GST completes a decade, the focus is shifting from rollout to efficiency—using AI, data sharing and simpler processes to cut compliance costs, speed refunds and tighten enforcement. Homebuyers’ Rights (India): India’s Supreme Court ruled buyers can still claim compensation for delayed possession even after taking flat possession, reshaping long-running consumer disputes. Markets & FX (India): FIIs are returning to Indian equities as the rupee strengthens (around 94.40/$) and crude eases, after weeks of selling. Energy Risk (India): EY warns crude import dependence has crossed 90% in FY26, urging expansion of strategic reserves to reduce vulnerability to global shocks. Iran War Spillovers: The Strait of Hormuz and war-linked disruptions are straining remittance-dependent and Gulf-linked migration economies, while inflation pressures in Iran near 89%. Philippines Budget: The Philippines approved a record 2027 budget (7.2tn pesos) while lowering growth targets amid high borrowing costs and persistent inflation. Tech & Jobs (Malaysia): Malaysia’s communications ministry will push NADI outreach to help more people earn via the digital economy, including selling online and becoming TikTok affiliates. Cooling Demand (India): June saw uneven summer demand: AC sales slowed on unseasonal weather and higher prices, while beverages and ice cream held up. Corporate Deal (India): Strides Pharma will sell a majority stake in Pivot Path to Ascent Capital for ~₹100 crore to fund expansion and growth.

Energy & Climate Transition: Sarawak is repositioning toward a low-carbon, tech-led economy under PCDS 2030, valuing forests as carbon sinks for trading, pushing AI for public services, and aiming to become a regional green-energy hub anchored by hydro and gas. Co-ops & Digital Finance: Malaysia’s ANGKASA approved six cooperative business plans worth RM293m, including an investment to acquire a stake in Boost Bank via digital services, pending KUSKOP approval. Maritime Security & Trade: Pakistan’s PM Shehbaz Sharif stressed that uninterrupted sea-lane access is vital for global supply chains, as Strait of Hormuz tensions flare again after a tanker strike and drone attacks involving Iran, Bahrain, and U.S. actions. AI & Jobs Anxiety: Nobel economist Robert Shiller warned AI job fears could become self-fulfilling, arguing the panic is a familiar pattern with new technology. Local Economy & Infrastructure: Mexico’s economy activity rose 2.3% year-on-year in April, led by construction and services, while Nepal’s Kathmandu ring road expansion faces delays despite grant agreements. SME Pressure: India’s MSMEs were highlighted as a major GDP and employment driver, but working-capital stress and overdue receivables remain a key constraint.

Trade & Exports: Jordanian food firms will join the U.S. “Fancy Food Show,” with exporters citing the Free Trade Agreement as a key route to more foreign-currency inflows and jobs. EU Markets: Jordan’s exports to the EU jumped 49.3% in the first four months, reaching 218 million dinars, led by industrial, food, pharma and chemical sectors. Maritime Logistics: Aqaba’s seafarers are highlighted for keeping global trade moving, with the Port of Aqaba positioned as a regional logistics hub. Energy & Markets: European gas prices rose 1.6% as Hormuz tensions and an attack on a commercial vessel tighten LNG supply; storage sits just over 47% full. Global Finance: Brazil is set to issue its first sovereign panda bonds, up to 5 billion yuan, boosting China-Brazil financial ties. Tech & Business: Alphabet will join the Dow Jones on June 29 as S&P Global reshuffles for a more tech-focused index. Local Economy: Wyoming’s new Chick-fil-A at the University of Wyoming Union opens, with revenue-sharing for the campus and pickup ordering for convenience.

Canada–Quebec Industry Support: Minister Mélanie Joly will back Champion Iron in Montréal with an announcement aimed at strengthening Canada’s steel sector. Public Safety & Youth Justice: Nunavut gets $1.59M for a Therapeutic Justice Program in Pond Inlet to cut reoffending for youth in the justice system. AI & Consumer Prices: Economists warn the AI build-out is feeding broader inflation pressures as demand for chips, power and skilled labor lifts costs across the economy. Cyber Risk to Industry: Investigators say Russian hackers were behind the $2.5B Jaguar Land Rover ransomware attack that disrupted UK production. Monetary Policy Watch: Reuters polling suggests the Fed is likely to hold rates steady through 2026 as inflation stays above target but oil prices ease pressure. Corporate Restructuring: Volkswagen is considering sweeping changes that could cut up to 100,000 jobs and close multiple German plants. Healthcare Payments Automation: U.S. Bank is hiring to push AI-driven automation to digitize healthcare billing and payments. Food Prices Strategy: Canada launches a National Food Security Strategy with $3B over 10 years to boost productivity and competition. Digital Economy in Dubai: Dubai Chamber of Digital Economy will showcase the city’s digital ecosystem at GITEX AI Europe 2026. Local Economic Development: Ghana’s Mahama breaks ground on a 24-hour economy market designed to boost trade with cold storage, services and banking.

AI & Retail Infrastructure: Crenny raised ₹5 crore to build AI-powered digital commerce infrastructure for India’s retail economy, aiming to shift buying and customer engagement toward conversational tools like WhatsApp. Urban Competitiveness: Bangkok’s gubernatorial election spotlights how the city is fighting to stay attractive for talent and investment. EV Mobility Push: Hyundai and TVS launched a pilot of “Blue Move,” an EV ride-hailing service using electric three-wheelers in Delhi NCR, testing before any wider rollout. Housing Costs: New York voted to freeze rents for some rent-stabilized apartments, a direct response to rising cost-of-living pressures. Tech Hardware Inflation: Apple and Microsoft raised prices as AI data-center demand lifts memory and storage component costs. Energy Grid Investment: Türkiye says it needs at least $50B over the next decade to upgrade electricity distribution networks amid rising demand and AI/data-center growth. Monetary Policy Pressure (Nepal): Nepal Chamber of Commerce urged Nepal Rastra Bank to make policy more investment-friendly, including easier credit conditions. Public Finance Risk (US): A Penn Wharton Budget Model warns U.S. federal debt may hit a sustainability outer bound around 210% of GDP within two decades. Africa Value Addition: AfDB urged African countries to stop exporting raw resources and instead process locally to drive industrialisation. Liberia Growth Outlook: IMF projects Liberia’s economy to grow 5.5% in 2026 on reforms and activity in mining, manufacturing, and construction.

US Health Costs: A new affordability index shows fewer than half of Americans believe they can pay for health care, with many “cost insecure” as premiums and medical bills outpace wages. AI Memory Boom: Micron’s revenue jumped 346% on AI-driven memory demand, as long-term “take-or-pay” deals aim to smooth the classic boom-bust cycle. US Jobs Signal: Weekly unemployment claims fell to 215,000, below economists’ expectations, suggesting layoffs remain steady. Construction Pressure: Engineering and construction costs rose again, with inflation and longer supplier lead times weighing on project momentum. Canada Trade Uncertainty: Deloitte says Canada is “on pause” amid CUSMA uncertainty, with weak investment holding growth back despite no recession. Curaçao Policy Focus: The central bank warns healthcare financing is a key economic risk and urges less red tape plus reforms to sustain tourism-led growth. Philippines Infrastructure Plan: The government will speed up infrastructure spending in the second half after cautious fund releases tied to past flood-control scandal concerns. Malaysia New Space Economy: Malaysia outlines talent-building plans under its National Space Policy 2030 to grow the space sector’s GDP contribution.

Markets & Rates: Canada’s data has economists worried after Statistics Canada showed a surprise contraction in Q1, sparking talk of a “data quality crisis” and a possible technical recession. Oil & Energy: Crude slid to pre–Iran war levels as Hormuz traffic reportedly rose and traders flagged demand softness and a mild oversupply. Asia Growth Watch: RBI may lift India’s growth forecast above 7% as oil prices ease; India’s retail lending is also set for a multi-decade expansion cycle. Policy & Industry: Armenia plans a shift to a high-value-added economy with five industrial zones. Tech & Finance: EPFO will shut its portal June 26–28 for upgrades, while Kalshi seeks a fresh $40B valuation in prediction-market fundraising. Security & Business Risk: SecondFi says it patched a Cardano wallet exploit that drained about $2.4m. Tourism & Jobs: PNG tourism contributed about $244m in 2025; Saudi waste management could add $32b to GDP by 2040.