AGP Executive Report

Islamic Finance & Women’s Protection: Bank Muamalat Malaysia launched M-Zahra Takaful MyLadies and a Digital Faraid Calculator to boost Shariah-compliant financial literacy and estate planning. Public Spending & Local Growth: Ohio lawmakers approved Senate Bill 450, including $14m+ for southern Ohio projects and $3.7bn statewide capital investment. AI for Business Leaders: A Talbot County summit urged firms to adopt AI with practical frameworks, warning that power and infrastructure strain are real. M&A & Corporate Deals: Persistent Systems agreed a business combination with Nagarro via a EUR 81 per-share takeover offer backed by Nagarro management. Digital Banking Co-ops: Malaysia’s ANGKASA approved RM293m in new cooperative business plans, including an investment stake in Boost Bank. Mortgage & Rates: Freddie Mac said 30-year fixed mortgage rates edged up to 6.49%, keeping affordability pressure on buyers. Investor Litigation Deadlines: Rosen and Kessler Topaz flagged upcoming lead-plaintiff deadlines in securities class actions tied to Calix (July 27) and Verra Mobility (Aug 4). Geopolitics & Markets: Reports highlighted markets rattled by AI fears plus Iran tensions and inflation uncertainty. Trade & Investment Push: The EU renewed plans to expand investment in Nigeria and deepen regional trade ties. Crypto Market Risk: Circle faced pressure as USDC supply dipped, with stablecoin revenue linked to short-term bond yields.

Geopolitics and Trade: Iran and the US traded strikes in the Gulf after accusations over an attack on a cargo ship in the Strait of Hormuz, putting a fragile ceasefire and shipping stability under fresh strain. Markets and Inflation: Global shares slid as tech stocks faced renewed pressure tied to AI-bubble worries and stretched valuations; oil, gold and Bitcoin also weakened as rate-hike expectations rose. US-Iran Sanctions: The UN Security Council saw sharp blame over Sudan’s humanitarian crisis while the US announced a second round of economic sanctions on Sudan over chemical weapons use. Corporate Dealmaking: Persistent Systems agreed to combine with Nagarro in an AI-led digital engineering push, with a planned takeover offer at EUR 81 per share. M&A/Local Services: Two regional library systems are exploring a merger to streamline catalogs and services across multiple counties. Policy and Business Costs: Sri Lanka moved to speed imported-food inspections and port clearance after delays raised costs for consumers and importers. Trade Negotiations: The Philippines and Canada plan to accelerate free-trade talks during Marcos’s July visit, targeting completion this year. Inflation Measurement: India’s shift from WPI to PPI is set to refine how production-stage prices feed into policy decisions. Small Business Support: Pennsylvania announced a $25M child-care workforce investment, while Hawaiʻi launched a Kona Low recovery grant program with $475,000 for affected non-ag businesses. Sports Business (Trade): The NHL draft opened with major player/pick swaps, while NBA teams continued salary-driven moves, including Isaiah Joe headed to Detroit.

Inflation Watch: The Fed’s preferred inflation gauge jumped to a three-year high in May, driven largely by higher gas prices and pricier semiconductors—raising the odds of political pressure and complicating rate-cut hopes. EU Investment Rules: The EU published updated foreign investment screening rules, making screening mandatory across the bloc for strategic sectors while keeping final decisions with member states. Trade & Growth Partnerships: Nigeria and the EU reaffirmed a deeper strategic economic partnership at the Nigeria–EU Business Forum, pointing to reforms and investment tools to boost private-sector growth. Defense Spending: UK Prime Minister Keir Starmer offered an extra £1bn for the Armed Forces, but critics called it a “drop in the ocean” versus a reported multi-year funding gap. Business Expansion: UNSW will invest $65m over a decade in a new Western Sydney campus in Parramatta, with early courses starting in 2027. Corporate/Market Moves: Microsoft’s MAI-Code-1-Flash is now available in GitHub Copilot Business and Enterprise, aiming to speed up coding with centralized admin controls. Local Economy: Tennessee reported its second-highest-ever new business filings for a quarter, signaling continued momentum for job and investment growth.

Trade & Investment: China-EU tensions are rising as EU leaders push new rules amid a China trade deficit topping €1bn a day, while China and the US agreed to a new bilateral trade council to negotiate reciprocal tariff cuts. US-India Talks: India’s envoy met the US House Ways and Means Committee as an interim trade deal nears, with India insisting on a competitive tariff edge. Inflation & Rates: US PCE inflation hit 4.1% y/y, lifting rate-hike pressure; gold steadied near $4,000 as expectations cooled. Energy Investment: Morgan Stanley sees a $5.5tn Asia energy supercycle tied to AI and energy security, with up to $9tn across the energy value chain. Business Risk: AIB warns of a surge in fraudulent investment sites, with takedowns exploding in 2026. Regional Growth: Bangladesh courts China on trade and infrastructure; Liberia and Maryland signed a trade-and-investment MoU. Tech & Industry: Malaysia launched a RM185m advanced packaging RDICE programme; HCLTech closed a ₹1,427.25cr minority stake in Sarvam AI. Local Economy: Nigeria’s First Lady backed small grants for low-capital businesses like akara and kulikuli; Maryland expanded its business funding database.

Energy Security: Malaysia says Petronas fuel supplies should stay stable and sufficient until August, with a crisis task force monitoring prices, smuggling risks, and securing crude from outside West Asia. Fraud Crackdown: Police in Kuala Lumpur dismantled FX investment scam syndicates, arresting suspects linked to call-centre setups and warning the public against high-return offers. AI & Cloud Investment: AWS will add $13bn to AI and cloud infrastructure in India, lifting total 2026-30 investment to $48bn, focused on expanding data centres in Mumbai and Hyderabad. Entrepreneurial State Debate (India): A new analysis argues India needs a more “entrepreneurial” government that acts as an investor of first resort, not just a facilitator for private growth. Construction Costs: New data points to rising engineering and construction costs as inflation and Middle East-linked uncertainty push up supplier bid terms and extend lead times. Investor Protection (Sri Lanka): CDS will restrict transactions in dormant stock accounts after three years, with reactivation possible via updated KYC. Trade & Investment: US and Gulf talks reportedly avoided any Iran investment-fund discussion, while Kazakhstan and China push toward $100bn bilateral trade.

Fed Watch: The Federal Reserve’s June forecast points to persistent inflation (Core PCE 3.3%, headline PCE 3.6%) and “higher-for-longer,” with markets pricing a higher chance of a rate hike by September. Trade Deal: The EU cleared a major US trade agreement, capping tariffs on EU exports at 15% and removing most EU tariffs on US industrial goods ahead of a July 4 deadline. Big Tech Investment: Amazon says it will invest tens of billions in India through 2030, targeting AI infrastructure, small-business digitization, and millions of jobs. Corporate Governance: Sri Lanka’s beneficial ownership rules are drawing pushback from business groups, who warn the new reporting duplicates existing eROC data and adds compliance costs. Energy & Industry: Malaysia-Singapore power interconnection Phase 2 reported RM23.06m revenue as it runs at full capacity, while Japan unveiled a plan for 370 trillion yen in AI and semiconductor spending by fiscal 2040. Trade Finance Tech: Trade Technologies and Mitigram announced a partnership to streamline end-to-end trade finance execution and reduce rekeying. Local Business Climate: South Africa’s taxi industry was urged to keep “business as usual” on June 30 amid planned demonstrations.

Islamic Finance Push: Malaysia says it’s building a broader Islamic finance ecosystem to attract investors, including from Russia, with cross-border outreach and shariah advisory expansion. ASEAN Investment Link: Johor-Singapore’s special economic zone is pitching deeper U.S. company engagement, betting on digital infrastructure and regional production. Aviation Supply Chain: IATA flags persistent aerospace bottlenecks—parts shortages, delivery delays, and limited maintenance capacity—and calls for better visibility, data use, and AI plus workforce capacity. Critical Minerals Trade: India’s export lobby argues trade deals with Latin America (Peru, Chile, Mercosur) can shore up lithium and other critical mineral supply. Retail M&A/Ads: Walmart agreed to buy Vibe.co to boost its full-funnel advertising push via Walmart Connect. Capital Markets/AI Boom: Nvidia and SpaceX helped drive a June record in investment-grade bond sales as AI infrastructure spending accelerates. Corporate Finance & Risk: Canada’s human-rights ombud role is being eliminated as advocates warn a Canada–Ecuador trade pact could raise mining abuses. SPAC IPO Watch: Humanoid robot maker Agility Robotics signed a SPAC merger with Churchill Capital, targeting a Wall Street listing. NHL Deal With Business Angle: Sabres and Capitals move toward a sign-and-trade for Alex Tuch, underscoring how sports contracts and salary caps drive dealmaking.

SME Banking Push: Revolut is targeting “north of 50,000” NZ business customers over five years with a $120m push, while its banking licence application with the RBNZ (filed Dec 2024) is still under review—success could unlock interest-bearing savings and more credit. Inflation & Rates: Australia’s May CPI cooled to 4% but underlying inflation (trimmed mean) rose to 3.6%, keeping pressure on the RBA to consider another hike. Fuel Subsidy Reform: Malaysia is consolidating diesel support under BUDI MADANI, moving from cash to a MyKad-linked system from July 1 at RM2.10/litre, with analysts expecting limited direct inflation impact. Trade Talks: India and the US opened high-level talks to salvage an interim trade deal before a July 24 tariff deadline. Energy/EV Tech: Shell showcased its “Triple 10 Challenge” EV concept, aiming for sub-10-minute charging and big efficiency gains. Cyber Skills Demand: Hack The Box expanded AI-assisted SOC training and simulations as AI reshapes cyber roles. Logistics Enablement: GWC Group partnered with Meydan Free Zone to streamline setup and regional expansion across the Gulf. Business & Policy: Salt Lake City will require business licences for short-term rentals from July 1.

NBA Trade Shock: The Milwaukee Bucks ended the Giannis Antetokounmpo saga, sending him and Bobby Portis to the Miami Heat for Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, three first-round picks (including No. 13), a swap and a second-rounder—sparking instant debate over Heat’s title push and Bucks’ rebuild. Inflation Watch (Canada): Canada’s CPI rose 3.2% y/y in May, above the Bank of Canada target, driven by fuel and food costs; gasoline jumped 33.2% y/y amid Middle East supply uncertainty. Cybersecurity & AI Risk: Five Eyes warned frontier AI models could enable major cyberattacks in months, urging governments and business leaders to act now. Trade & Investment (Malaysia/UAE): Malaysia highlighted deep UAE links in petroleum, petrochemicals and logistics, while MITI said foreign investors weigh fundamentals more than election speculation. Corporate Moves (Banking): Standard Chartered said it will explore selling its Bahrain wealth and retail banking unit, while keeping its corporate and investment banking franchise. Energy Markets (Chevron): Chevron said its power generation push for US data centers needs time to scale after signing a long-term PPA with Microsoft. Business & Consumer Safety: Better Business Bureau in Alberta warned of seasonal vendor and ticket scams targeting summer events.

India–US Trade Talks: Commerce Minister Piyush Goyal and U.S. Trade Representative Jamieson Greer kicked off high-level talks in New Delhi to finalize the first phase of the bilateral trade agreement, with both sides aiming to close remaining framework issues and adjust tariff-related items. China Investment Push: China rolled out an action plan to stabilize and optimize foreign investment, including support for eligible foreign-funded firms to list and finance domestically, plus steps to expand market access and improve service guarantees. EU–China Trade Friction: The China Chamber of Commerce to the EU warned the bloc’s planned “new trade defense tools” could add uncertainty for businesses and investors, arguing competitiveness drivers deserve equal focus beyond goods trade balances. AI & Finance Scrutiny: OpenAI faces U.S. conflict-of-interest questions over Sam Altman’s investment ties as it prepares for an IPO, while CFA Society Bahrain hosted a seminar on how AI is reshaping investment decision-making and risk assessment. Cybersecurity: Kaspersky reported a WhatsApp malware campaign using compromised accounts and fake business documents to spread malicious files across multiple countries. Energy & Trade Routes: India’s Eastern Maritime Corridor is highlighted as a strategic alternative route amid Middle East shipping and energy disruptions. Business Stress Signals (Australia): Equifax data showed Australian business credit demand diverging—insolvencies rose while some insolvency measures fell—pointing to pressure building in smaller firms. Consumer Inflation (UK): UK grocery inflation eased to about 3% as May heat boosted demand for summer staples.

USMCA Talks: The U.S. agreed to a July 1 trilateral meeting with Canada and Mexico to restart review of the trade pact, easing fears of a missed renewal deadline. Energy & Inflation Shock: Indonesia unveiled a $1.48bn 2H stimulus to counter an energy crisis and currency slump, while the Philippines sought a $1.5bn ADB loan for similar energy-crisis relief. Middle East Trade Strain: Global fertiliser trade fell 30% in early 2026 as the Middle East conflict disrupts shipping and tightens supplies, with Strait of Hormuz closures a key driver. Cross-border Security: U.S. CBP seized over $10.1m in methamphetamine at the World Trade Bridge, underscoring tighter cargo scrutiny. M&A & Defense Space: Canada’s MDA Space agreed to buy Blue Canyon Technologies for $620m to expand U.S. defense and satellite capabilities. Retail Restructuring: Toys “R” Us Canada won court approval to sell parts of its business to three buyers, aiming to reduce debt after creditor protection. Bilateral Investment Push: Bangladesh is courting Malaysian investment and eyeing free trade agreements, while Iraq and Turkey discussed expanded economic ties and oil export logistics. Inflation Watch: Kuwait reported May CPI up 2.49% y/y, with food, transport, and health among the biggest contributors.

US-India Trade Talks: US Trade Representative Jamieson Greer heads to New Delhi for multiple meetings with Commerce Minister Piyush Goyal as both sides push to wrap up a bilateral trade agreement, with tariff issues still the sticking point. China FDI Push: China rolled out a plan to stabilize and optimize foreign investment, including streamlining cross-border M&A and data-flow rules and allowing qualified foreign firms to list domestically. Middle East Trade Recovery: The UAE is reopening ports to Iranian vessels, easing supply-chain disruption after the Iran-Israel conflict; regional trade corridors are restarting gradually. AirAsia X Cost/Capacity Shift: AirAsia X says it will gradually lower fares and restore capacity as jet fuel prices fall, after a RM150m March loss tied to the fuel spike. Energy & Investment: Japan is targeting about $2.3tn in public-private investment by 2040 across strategic sectors, while Italy is emerging as a top battery storage destination thanks to bankable capacity-market rules. Business & Jobs: Kurdistan’s tourism push has created 20,000+ jobs, and Straive is buying NextGen Invent to scale AI operationalization services.

Trade Facilitation Push (Bangladesh): Bangladesh’s Commerce Minister says a centralized online one-stop investment service is being built to cut licensing and approval delays, with provisional licences and joint inspections to avoid repeated visits; the broader plan includes a digital platform for approvals and services. Tax & Housing Risk (Bangladesh): REHAB warns a proposed 15% flat tax from July 1 could unsettle joint development deals, raising uncertainty, disputes, and affordability pressures. Inflation Watch (US): The Fed’s preferred inflation gauge is expected to show faster PCE inflation, keeping rate-hike pressure on the table as investors parse Fed messaging under new chair Kevin Warsh. Monetary Tightening (South Africa): SARB governor Kganyago flags rising inflation expectations and says policymakers must act to pull inflation back toward the 3% target. Market Oversight (Bangladesh): Dhaka Stock Exchange resumes real-time trading halts after unusual price moves, aiming to protect investors. US Trade Action (Germany): The US launches a Section 301 probe into Germany’s drug pricing, raising the risk of tariffs. Geopolitics & Energy: Strait of Hormuz disruption fears deepen as Iran says it has closed the waterway amid renewed regional tensions. Investor/Legal Alerts: New class-action deadlines and updates continue for Roblox and other public companies, keeping securities litigation on investors’ radar.

Energy Finance: Malaysia’s Tenaga Nasional (TNB) drew massive demand for RM2.5bn in 2026 sukuk for solar (RM1bn) and hydro (RM1.5bn), both oversubscribed fivefold, underscoring appetite for bankable renewables. Energy Security & Trade: Malaysia’s PM Anwar Ibrahim backed new Petronas-Turkmenistan agreements and said Russia assurances support long-term oil, gas and diesel supply, while BRICS International Malaysia praised the visits for strengthening strategic partnerships. Diplomacy-to-Deals: Qatar and Thailand chambers pushed private-sector investment links after 2025 trade hit about QR12.4bn; Germany’s Arab-German Business Forum in Berlin also highlighted public-private partnership opportunities. Inflation Watch: Jordan kept inflation well below the global average from 2021-2025, aided by subsidies and Central Bank policy during global shocks. Cyber Risk: Delhi Police arrested two over an online investment scam worth about Rs 80 lakh, while Malwarebytes flagged a new ransomware approach (Prinz Eugen) that silently encrypts actively used business files. Regional Commerce: Kazakhstan and Afghanistan set sights on $3bn trade, with forums in Kabul pushing logistics and certification fixes. Business Climate: Ghana’s central bank urged banks to move beyond lending into advisory and market-access support for growth sectors. Sports-Driven Deals: Giannis Antetokounmpo trade talks keep evolving, with multiple NBA frameworks shaping what teams may offer.

Trade & Investment Partnerships: Dubai Chambers met Ontario’s business and innovation groups in Toronto to deepen trade and investment links, targeting cooperation in AI, innovation and institutional investing. Industrial Policy & Semiconductors: Malaysia’s PM Anwar said the country is entering a high-tech, semiconductor and AI-driven growth phase, with projects like Penang’s Setia Fontaines Industrial Park aimed at jobs and skills. Real Estate Finance: India’s REIT/InvIT market is expanding and “institutionalising” property, with Colliers citing 195m sq ft of listed assets and a 37m sq ft pipeline as of March 2026. Energy & Air Travel: Gulf airlines are back near pre-Iran-conflict levels as airspace reopens, while Indonesia and Kuwait pushed energy-security cooperation and advanced GCC free-trade talks. Inflation Watch: Japan’s core inflation stayed flat in May after the BoJ’s rate hike, as subsidies cushion oil-price shocks. Small Business Cash Flow: Australia’s shift to weekly superannuation from July 1 is set to stress cash flow for small operators, especially those without payroll-ready systems. Consumer & Housing: Queensland’s granny flat demand surged, and Australia’s cafe owners warned rising costs could force closures. Regulatory/Deal Risk: US senators urged the FCC to pause the Paramount-Warner Bros merger over foreign-investor control concerns. Legal/Investor Claims: Rosen Law Firm is pursuing potential securities claims for FLOW cryptocurrency investors.

Energy & Investment (Malaysia–Turkmenistan): Malaysia’s Petronas marked 30 years in Turkmenistan and signed new deals to expand upstream work, including a production sharing agreement for Offshore Blocks 19 and 20 plus a 2D seismic cooperation pact—signals of continued investor confidence tied to political stability. Cuba Economic Overhaul: Cuba’s National Assembly approved 176 reforms to decentralize the economy and open space for private firms, private banking and foreign trade without direct state involvement, as the island seeks growth amid pressure from U.S. sanctions. Middle East Trade Costs (Bahrain): With the Strait of Hormuz reopening, economists expect freight and insurance costs to ease, helping Bahrain and the wider region’s supply chains recover over months. Sanctions & Iran Risk: A potential U.S.-Iran war-ending deal could unlock investment, but may also strengthen the Revolutionary Guards’ business empire—complicating sanctions relief. Markets & Inflation Watch (UK): The Bank of England held rates at 3.75% as energy-price volatility persists; inflation is 2.8% but risks of second-round effects remain. Bolivia Crisis: President Rodrigo Paz declared a state of emergency to clear blockades after 50 days of protests tied to fuel subsidy cuts and shortages, escalating an economic and political standoff. Commodities (Malaysia): Bursa Malaysia outlooks point to volatile gold ahead of U.S. core PCE, while crude palm oil is expected to trade in a broad range as energy and demand signals shift. Business & Policy (Oman): Oman reported a Q1 trade surplus and pushed digital business services via its Oman Business Platform, including merger-related options and faster self-service processes. Local Business Pressure (UK/Europe): Norway plans to ban trade with Israeli settlement goods in occupied territories, a move likely to pass parliament and affect cross-border commerce.