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The agreement signed in August 2026 primarily covers imported wheat, although Al Dahra also produces agricultural commodities domestically. In 2023, it identified itself as Egypt’s largest private-sector producer of wheat and corn, with approximately 85% of its Egyptian farm output entering local markets at t

Oil prices experienced a modest rebound on Tuesday following a decline of over 2% in the previous session for both Brent crude and WTI. Brent futures increased by 27 cents, or 0.3%, reaching $92.44 per barrel at 0330 GMT. Meanwhile, U.S. West Texas Intermediate added 37 cents, or 0.4%, to settle at $85.38. This upward correction came after Monday’s significant drop, which ended a streak of six consecutive sessions of gains across the two main crude benchmarks.

Alibaba Group has announced an HK$80 billion share placement aimed at boosting artificial intelligence investments and enhancing its AI infrastructure. The Chinese tech giant plans to issue 710 million new ordinary shares at HK$112.70 each, a deal valued at approximately US$10.2 billion based on current exchange rates. The company anticipates the transaction will be finalized by August 26, pending standard conditions. Alibaba stated that all net proceeds will be allocated toward developing its comprehensive AI capabilities. This funding will support expansion and upgrades across its AI infrastructure. The firm has established an extensive AI ecosystem that includes cloud computing, models, chips, and applications. Its Qwen model series and Alibaba Cloud services are core components of this technological framework. The share placement targets international investors outside the U.S. through offshore channels. The offering price of HK$112.70 is 8.4% lower than Alibaba’s HK$123 closing price on Friday. Hong Kong-listed shares initially declined as much as 10%, hitting HK$110.10 during early Monday trading. Additionally, Alibaba is traded in New York via American depositary shares under the BABA ticker. This fundraising follows a notable rise in Alibaba’s spending on computing infrastructure. During the quarter ending June 30, capital expenditure reached RMB67.68 billion, roughly US$10 billion. This marked a 75% increase compared to RMB38.68 billion a year earlier. Alibaba attributed this surge to ongoing AI infrastructure investments, increasing demand for

South Korea has embarked on its inaugural container ship expedition through the Arctic route to reach Europe. The 2,758-TEU PanStar Acro departed from Busan New Port around 9 p.m. on August 22. The Ministry of Oceans and Fisheries verified the departure and shared the voyage timetable. The vessel will navigate via the Northern Sea Route, making stops at three European ports. The entire round trip, lasting approximately 45 days, is set to conclude in Busan on October 5.

Egypt’s central bank keeps its policy rate corridor at 19%-20% after its August meeting. Inflation in urban areas rose to 14.9% in July from 14.3% in June, based on official figures. The CBE’s core inflation, calculated internally, increased from 14.3% to 14.7% over the same period. When viewed monthly, both headline and core inflation registered no change in July. The Central Bank of Egypt explained that unfavorable base effects contributed to the higher annual figures. The Egypt’s urban consumer price index is produced by the Central Agency for Public Mobilization and Statistics. The decision in August marked the fourth consecutive hold after meetings in April, May, and July. The last adjustment to policy rates occurred on February 12, when the CBE reduced key rates by 100 basis points. This cut brought the overnight deposit and lending rates to their current levels of 19% and 20%, respectively. The main operation and discount rates also decreased to 19.5%. Since that February move, the Monetary Policy Committee has kept the entire rate structure unchanged at each subsequent meeting. Annual inflation climbs while monthly prices remain unchanged According to the bank, real economic activity continued to slow down during the second quarter, based on recent estimates. This follows a 5% growth in real gross domestic product during the first quarter of 2026. The CBE forecasts real GDP to grow by approximately 5% throughout the 2025-

Japan’s July trade reached record values as imports outpaced exports. This month marked the second consecutive record in import value. The increase in crude oil imports played a significant role, as Japan faced higher energy costs. The volume of crude oil imported rose by 5.5% compared to July 2025, ending a three-month streak of declines on a year-on-year basis. The worth of these crude shipments surged by 87.8% over the same period. Given Japan’s heavy reliance on imported energy, fluctuations in oil prices and exchange rates continue to be critical factors influencing its merchandise trade figures.

Wall Street closed higher as Treasury yields fell and healthcare stocks rallied. Bond prices moved upward following the U.S. Treasury Department’s announcement of increased liquidity support buybacks for longer-dated government debt. Beginning September 9, the maximum purchase amount will rise from $2 billion to at least $4 billion per operation. This change pertains to nominal coupon securities within the 10-to-20-year and 20-to-30-year maturity segments. These higher amounts will stay in effect through November 4. The department explained that high-quality offer volumes supported the decision to expand liquidity operations in those segments. Following the announcement, Treasury yields declined, reversing some of the recent upward movement in long-term borrowing costs. The 10-year Treasury yield fell to approximately 4.65%, while the 30-year yield dropped to around 5.20%. On Tuesday, the 30-year yield reached 5.337%, its highest since 2007. Since bond yields move inversely to prices, increased demand for government debt caused yields to fall. This retreat alleviated some of the pressure that accompanied the recent selloff in longer-term government bonds. Healthcare Sector Boosts Market Sentiment Support for healthcare stocks contributed to Wednesday’s gains, with several pharmaceutical companies posting significant increases. Moderna shares soared by 177%, and Merck advanced by 12.6% after announcing positive results from a Phase 3 melanoma trial. The INTerpath-001 study evaluated personalized mRNA therapy intismer

Global markets for precious metals experienced downward momentum on Friday, as spot gold prices declined, setting the stage for an overall weekly decrease. Market data revealed that spot gold fell by 0.5 percent to trade at $4,326.75 per ounce, while United States gold futures for December delivery decreased nearly 1.0 percent, reaching $4,382.50 per ounce. The market pullback followed a sharp, temporary surge on Thursday, when bullion prices reached their highest levels in over two months before dropping 1.3 percent due to sudden profit-taking.

Global electric vehicle sales increased by 9% year on year in July 2026, reaching 1.85 million units. Among the leading EV markets, Europe experienced the most significant growth in July, with sales increasing by 33% from the previous year. France saw an 81% annual boost in July, while Germany’s EV sales climbed 46% and the United Kingdom reported a 43% rise. China maintained its position as the world’s largest electric vehicle market by monthly volume, despite a decline in July. North American EV sales showed a downward trend, with a 27% decrease in July compared to the previous year.

South Korea auto exports reached a record July value as eco-friendly vehicle shipments grew. The surge in eco-friendly vehicles was the primary driver behind South Korea’s export growth during the month. Their export value jumped by 25.5% compared to the previous year, reaching US$2.59 billion. Electric and hydrogen vehicle exports experienced a 31.9% rise, amounting to US$940 million. Hybrid vehicle exports grew by 22.2%, reaching US$1.65 billion. Eco-friendly models represented approximately 41.5% of the country’s total automobile export value in July.