AGP Executive Report

Fed Watch: Fed Chair Kevin Warsh told Jackson Hole the central bank has “work to do” if inflation stays elevated and left the door open to rate hikes, pushing markets toward a more hawkish path. Trade War—Canada: The U.S.-Canada tariff fight is spilling into politics and business, from Idaho’s heavy exposure to Canada to warnings that retaliatory tariffs could hit major U.S. and Canadian industries and local exporters. Regional Policy Push: Alberta and Saskatchewan lawmakers are heading to Minnesota to press for trade and energy ties as the dispute with the U.S. escalates. Inflation & Growth Signals: Philippines data pointed to inflation likely staying above target in August and a widening trade deficit driven by imported electronics components, even as electronics exports hit records. Investment & Jobs: Kentucky’s MegaFit Meals is expanding Calvert City with a $9.25M facility and 40 new jobs, while Minnesota’s AG approved a major healthcare merger. Corporate & Legal: A Delaware court backed Meteora Capital in a contract dispute with Roadzen over share registration and resale restrictions. Business Risk: Ukraine prosecutors say an illegal trade scheme in human tissues and organs was run through a Chernivtsi pathology bureau, with shipments disguised as medical cooperation.

AI & Productivity Policy: Thailand rolled out a National AI Roadmap focused on measurable productivity gains, targeting a 15% productivity jump in priority industrial sectors by 2030 plus broad AI adoption and worker certification. AI for R&D: Sapient Intelligence launched PRAXIST (Beta), aiming to automate parts of technical research by autonomously testing and validating solutions against defined goals. Investment Momentum: Malaysia approved RM218.5bn in investments in 1H 2026 (+11.7%), with foreign investors leading and job creation rising. Inflation Watch (Philippines): BSP signaled rates may rise again if core inflation doesn’t keep cooling, while August inflation risks remain tied to weather and fuel. Corporate Deals & Finance: ABB launched its plan to buy a controlling stake in Uzbekistan’s Davr Bank, while Hecate Energy updated progress toward a Nasdaq listing (early Q1 2027). Trade & Tariffs: Detroit business leaders warned Trump’s Canada trade war could hit jobs and prices, with Michigan politics adding pressure. Cyber & Continuity: A look back at WannaCry underlined how unpatched systems can cripple operations, a reminder for business continuity planning. Security & Illicit Trade: EU authorities say a Lithuania factory case shows counterfeit nicotine production can be built inside Europe, not just smuggled in. Local Business & Growth: Yorkshire business confidence fell sharply in August, though firms still plan hiring and tech investment.

U.S.-Canada Trade Flashpoint: Trump signed an order renaming Lake Ontario “Lake America” for U.S. federal purposes, escalating a tariff fight Canada says it won’t recognize. Central Banking Watch: The Fed’s Collins called the latest inflation read “mixed,” while Cleveland’s Hammack urged action to bring prices back to target; in the Philippines, the BSP hiked its key rate to 5% to curb above-target inflation. Mortgage & Inflation Signals: Weekly U.S. mortgage rates edged up to 6.57% as investors digested hotter-than-expected inflation data, while rate expectations stayed cautious. Business Sentiment: UK business confidence hit the highest since March, and regional Lloyds barometers showed mixed momentum in the West Midlands and East Midlands. Energy & Investment: Enbridge secured $2.7B from global investors to expand B.C. gas pipelines; Ford named an energy executive to lead stationary storage as it targets profitability. Dealmaking & Markets: Crypto custodian BitGo is set to buy NYDIG’s institutional trading business; Somnigroup completed a merger with Leggett & Platt. Regional Trade & Growth: Qatar and Uzbekistan discussed private-sector cooperation in textiles and light industry, while Lebanon and the UAE signed an MoU to boost trade and investment. Local Business Impact: New York farmers warned tariffs and uncertainty are reshaping exports and planting decisions.

Inflation & Energy Shock: The Philippines’ inflation stayed elevated at 6.2% in July, with the BSP linking pressure to Middle East tensions and noting a gap versus lower-inflation neighbors—while also pointing to structural weaknesses like limited local oil and AI capacity. Digital Economy & Policy: Malaysia’s PM Anwar said faster growth from AI, data centres and digital tech doesn’t automatically boost government revenue, while DOSM reported business confidence improving in 3Q 2026. Cyber & Finance Crime: TRM Labs named a new APAC policy head as it warns that AI and digital assets are accelerating fraud and investment scams across the region. Scams & Consumer Protection: Jersey regulators warned residents about an impersonator offering “portfolio management” under a real firm’s name, urging people to stop, check and protect before sending money. Trade War Spillovers: In Canada’s Kamloops, businesses report a “cloud of uncertainty” as U.S. tariff hikes ripple through customers, suppliers and input costs—even for firms not directly hit. Corporate Deals & Capital Markets: Astrum Space agreed to combine with Black Spade Acquisition III to list on the NYSE, while Korea Investment Management and Korea Investment Value are pursuing a spinoff merger. Healthcare Costs: Malaysia expects medical claims inflation to keep rising, driven largely by more private-hospital use. Tech for Compliance: Nigeria’s Afri Invoice opened a funding round to expand e-invoicing and real-time compliance validation across Africa.

US Inflation & Markets: The Fed’s preferred PCE measure stayed sticky at 3.7% in July, nudging up monthly gains and weighing on Wall Street as investors also digested Nvidia’s upcoming results. Canada–US Trade War: Canada retaliated with dollar-for-dollar tariffs after talks collapsed, while politicians and retailers pushed “Buy Canadian” labels amid fears for prices and cross-border business. EU Merger Review: The European Commission issued a Statement of Objections to UPM and Sappi’s planned graphic paper joint venture, a key step in the bloc’s merger scrutiny. Payments & Retail Tech: TNS said it’s investing in omnichannel payment orchestration to cut complexity and costs, adding support for new Android-based unattended terminals. Data Centers & AI Infrastructure: TA Digital Group pledged $50K to George Mason’s Nexus234 innovation district, signaling continued buildout momentum in Northern Virginia’s tech corridor. Business & Compliance: Philippines regulators flagged that most vape brands are unregistered, pushing for tougher enforcement and harmonized excise taxes. Local Business Pressure: An Adam and Eve store sued Fort Bend County over being forced to register as a sexually oriented business, challenging how local rules classify retail operations. Energy & Agriculture Costs: US grain farmers face their worst crisis in decades as Iran-linked disruptions lift diesel and fertilizer costs. Real Estate: Australia’s rental vacancy rate rose to 1.5%, the highest since early 2022, adding pressure to rate-sensitive sectors.

US-Canada Trade War: Canada escalated retaliation with $20bn tariffs as talks collapsed, while business groups urged renewed negotiations to restore stability for cross-border supply chains. Geopolitics & Energy Costs: Iran hit back at US tariff moves as “global bullying,” as the Hormuz crisis pushed fossil fuel import bills up by $330bn, with diesel and jet fuel driving broad inflation pressure. Markets Watch: Wall Street looked ahead to inflation data and Nvidia results, with traders weighing whether AI spending keeps inflation “sticky.” Inflation & Central Banks: Australia’s July inflation eased only slightly; trimmed-mean stayed above target, reinforcing the RBA’s cautious stance on rate cuts. UK Financial Oversight: The FCA banned and fined Dolfin Financial executives over a scheme to help clients bypass investor visa rules, generating $35.5m in fees. AI for Business: New tools aim to make AI governance and ROI measurable, from regulated compliance workspaces to workforce productivity tracking, alongside robotics demos that sorted 10,000 parcels in under five hours. Corporate Deals & Finance: Calian agreed to sell its Houston commercial IT business to Trace3 for about CAD $43m, while Coventry hit $1bn in life-insurance-backed securitisation demand. Regional Economy: Philippines growth faces a “slow and bumpy” recovery forecast at 3% for 2026 amid corruption fallout and Middle East shocks.

US-Iran Pressure: Treasury Secretary Scott Bessent launched “Operation Economic Outcast,” warning countries doing business with Iran could face secondary sanctions, with deadlines set privately and new restrictions spanning digital assets, tech, gold, aviation and shipping. US-Canada Trade War: Canada retaliated dollar-for-dollar after talks collapsed, announcing up to 50% tariffs on about 700 U.S. product categories starting Sept. 8, deepening uncertainty for cross-border supply chains and household costs. Local Taxpayer Impact: Municipal leaders warn tariffs will hit city budgets first, raising infrastructure procurement costs and squeezing small businesses already facing higher input prices. Energy & Inflation: Meridian Energy pledged below-inflation power price increases after a record operating profit, while markets tracked easing inflation fears and a rebound in tech stocks. AI & Business: Alice raised $140M to expand AI security testing and guardrails, and Vodafone Business teamed with Tech Mahindra to accelerate UK digital transformation. Investment & Policy: Singapore is bidding to host a proposed UN-backed Multilateral Investment Tribunal to make investor-state disputes more consistent. Small Business Support: ChicoSTART won a grant to expand legal, accounting and capital-readiness help for underserved rural entrepreneurs in Northern California.

US-Canada Trade War: Trump floated renaming Lake Ontario to “Lake America,” framing it as a signal of reduced business with Ontario as Washington and Ottawa escalate tariffs and retaliation. Monetary & Inflation Outlook: Moody’s Analytics says Asia-Pacific growth will cool to 4.2% in 2026 and 3.6% in 2027 as AI boosts exports but higher prices and tighter policy weigh on demand. AI-Driven Sentiment: Taiwan’s business mood improved on strong AI and semiconductor export momentum, though car makers and parts of services remain weak. Energy-Led Investment: Columbus-region projects total $90M+ and nearly 680 jobs, with new manufacturing tied to power demand and data-center cooling. Corporate & Market Moves: Canada’s CIRO halted trading in LUKA Capital Corp pending closing; in the US, Houston traded for WR Kayshon Boutte after an injury to Jayden Higgins. Securities Litigation Deadlines: Robbins Geller set lead-plaintiff deadlines for Photronics (Sept 4), Cogent Communications (Sept 21), and Hub Group (Aug 28). Food & Climate Resilience: Cambodia farmers are turning to agroecology as input costs rise and extreme weather strains rural livelihoods.

US–Canada Trade War: Trump says 50% tariffs on Canadian cars, trucks, parts and steel will start Jan. 1, after talks collapsed, while Canada prepares retaliatory measures and even considers power-export retaliation—raising costs for border states and squeezing SMEs. Regulatory Reform: The Philippines SEC proposes a “One Business Start Date,” letting firms begin operations once they get SEC registration or a primary license while other permits are processed in parallel. AI & Investment: Nvidia is reportedly in talks to invest again in Perplexity AI, potentially valuing it above $30B. Trade Secrets & Enforcement: A Chicago federal jury convicted a Philips Medical Systems engineer of stealing x-ray technology trade secrets for a Chinese competitor. Consumer Protection: Doxo agreed to pay $2.1M to settle FTC claims it misled customers and added fees. Sanctions Pressure: Treasury’s “economic D-Day” plan threatens countries doing business with Iran with punishment. Corporate Governance Scrutiny: Australia’s biggest firms are largely missing from the federal lobbying register, prompting calls for tighter oversight. Sustainability & Risk: Singapore business leaders urged treating water resilience as a balance-sheet issue as climate and supply shocks intensify.

US-Canada Trade War: Talks collapsed and 50% tariffs took effect, with lawmakers warning of higher prices and “ghost jobs” as retaliation looms. Middle East Sanctions & Markets: US Treasury Secretary Scott Bessent signaled “economic D-day” sanctions on Iran, adding pressure to oil and investor sentiment. Inflation & Cost of Living: Northern Ireland shoppers cut supermarket trips as grocery price inflation nears 12%, while India’s air passenger services saw nearly 32% price inflation in the June quarter. Investment Climate Scrutiny: Nepal lawmakers say private investment is overly concentrated in hydropower, while the Investment Board cites staff and budget shortages; Iraq also saw an Investment Commission legal chief arrested over corruption claims. Regulation & Consumer Protection: UK’s FCA warned about unregulated loan notes and mini-bonds marketed via social media loopholes. Corporate & Deal News: Malaysia’s WCE Holdings expects breakeven by FY2030 as expressway sections open; Batu Kawan posted a large impairment-driven loss; CySEC settled with RoboMarkets over possible rule breaches. Tech, Finance & Growth: Starling launched an agentic AI assistant for business customers; Aspora picked Vilnius for its EU base; Flow Capital announced a US$6m investment in payments tech. Trade Expansion: India pushed new FTAs, aiming to cover ~75% of global trade, while India-GCC and Bangladesh-India border/land-port talks advanced. Energy & Sustainability: McDonald’s Malaysia expanded rooftop solar and EV charging with Tenaga Nasional.

US-Canada Trade War: Talks collapsed over disputed deal terms, and the U.S. moved to 50% tariffs on about $20B of Canadian goods; Canada’s PM Mark Carney says retaliation will start Sept. 8 “dollar for dollar,” targeting steel, dairy and more—raising costs and uncertainty for cross-border manufacturers. US-Iran Sanctions: Washington is set to unveil a broader Iran sanctions push aimed at Tehran’s oil trade partners and foreign firms tied to Iranian commerce, as Hormuz disruption keeps crude prices supported. Scams & Small Business: South Australia reported $15.6M lost to investment scams in 2025–26, while banks warn small firms are prime targets for fake invoices, remote-access fraud and business impersonation. Inflation Watch: Sint Maarten’s inflation jumped to 5.45% in Q2 as fuel, electricity and transport costs surged. UK Productivity: Britain’s productivity shows sustained improvement, with economists pointing to better output-per-hour trends after measurement issues. Health Business: Gilead’s HIV franchise is driving strong results, but analysts question whether the company is too dependent on one core line. Trade & Skills: U.S. trade/vocational college enrollment rose to 871,000, reflecting growing demand for “AI-proof” hands-on careers.

US-Canada Trade War: Mark Carney says Canada will hit back with “dollar-for-dollar” tariffs on about US$20bn of US goods starting Sept. 8 after Washington imposed 50% duties following collapsed talks, with both sides trading blame over last-minute demands and CUSMA reliability. Market Watch: Nvidia’s Q2 earnings land as investors worry whether the AI spending boom is paying off; expectations point to sharp revenue growth and a big read-through for chip stocks. Crypto & Macro: Bitcoin surged about 23% this week as gold rallied and the dollar eased, with bond-market jitters and Scott Bessent’s Treasury moves in focus. Middle East Economics: The World Bank projects Lebanon’s economy will shrink 6.4% in 2026 as renewed conflict disrupts tourism, housing and supply chains. UAE-Russia Trade: The UAE-Russia Trade in Services and Investment Agreement (Tisia) takes effect, aiming to expand services access and investor protections. Investing Basics: Radhika Gupta argues jewellery isn’t the same as financial gold and warns against treating luxury bags as guaranteed investments. Regional Business Push: Ekiti State targets up to US$500m from Egypt to build industrial and trade value chains.

US-Canada Trade War: Talks collapsed late Friday and the U.S. moved ahead with 50% tariffs on about $20bn of Canadian goods, prompting Prime Minister Mark Carney to promise “dollar-for-dollar” retaliation starting Sept. 8; both sides traded blame over last-minute demands, with Canadian leaders warning the dispute could disrupt supply chains and raise prices across sectors like dairy, steel, appliances, electronics and vehicles. Regional Business Impact: Canadian firms are already recalibrating plans, including an Ottawa-area distillery shifting expansion from the U.S. to Europe and other Canadian provinces as uncertainty bites. Policy & Inflation Watch: Fitch said the Philippines’ investment-grade outlook hinges on a recovery in investment that hasn’t shown up, as deficit targets were revised upward amid weak growth and a slump in capital spending. Tech & Sanctions: Venezuela’s telecom modernization got a boost after OFAC issued new general licenses via CONATEL, enabling U.S.-jurisdiction firms to supply equipment and services to the local market. Investor Deadlines: Rosen Law Firm flagged upcoming lead-plaintiff deadlines in securities class actions involving Avis Budget (CAR), Smartsheet (SMAR) and Genius Group (GNS). Trade Compliance Risk: A White House report highlights elevated risks of China-linked “shadow transshipment” into the U.S., pointing to Asia logistics and free-zone hubs.

US-Canada Tariff War: Talks collapsed and the US moves to impose 50% tariffs on about $20bn of Canadian goods, with Ottawa suspending negotiations and vowing “dollar-for-dollar” retaliation, raising the odds of a wider trade fight and complicating renewal of the US-Mexico-Canada framework. AI & Enterprise Software: Oman’s Otech (Omantel) and Remedy will roll out an AI-powered corporate platform for strategic planning and performance management, including talent and HR analytics. Wealth & Investor Confidence: Malta’s Bank of Valletta is pushing investment services built around adviser support and clearer market guidance, with a focus on themes for the rest of 2026. Private Markets Boom in India: EY and Julius Baer project India’s alternative investment market could top $2tn by 2034 as family offices expand into private equity, venture capital and co-investments. Regional Trade & Investment Moves: India’s Jaishankar heads to Moscow to co-chair an India-Russia trade commission; Malaysia and Brunei chambers renew an MoU to deepen business ties. Local Economic Support: Spain’s Carlos Cuerpo will travel to Ceuta to shape an economic reactivation package after the migration crisis, including tax and social security relief. Business Finance in Nigeria: The naira edges up in official FX trading as FX demand cools.

World Economy & Risk: The World Bank projects Lebanon’s economy will shrink 6.4% in 2026, citing war damage, displacement, and a tourism hit, with inflation forecast at 17.5% and reforms needed to unlock reconstruction financing. Trade Talks: Canada and the U.S. keep negotiating in Washington as a midnight tariff deadline nears; officials say progress is “very close,” with possible cuts for vehicles and metals, while alcohol access remains a sticking point. Credit & Investment Climate: Japan-based R&I affirmed the Philippines’ “A-” investment-grade rating with a stable outlook, expecting growth to return to the 5% range in 2027 as budget execution normalizes after corruption and an oil shock. M&A & Competition: Charter and Cox Communications completed their merger, expanding Spectrum’s footprint to about 70 million homes and shifting customer service toward U.S.-based staff, with wireless and broadband promos starting mid-September. Markets Watch: Gold heads into next week focused on PCE inflation and Jackson Hole for Fed direction, after a strong rally on a weaker dollar and shifting rate expectations. Business & Jobs: Malaysia’s SME group urges Budget 2027 to measure outcomes like productivity and investment, not just grants, as firms face higher compliance and energy costs.

AI & Debt Markets: A Reuters report says the AI buildout’s bond boom is starting to strain investor demand, with some large buyers asking for higher yields and warning of “indigestion” if issuance keeps rising. Semiconductors & Industrial Policy: Malaysia is pushing Arm-linked chip development, with four firms already in design/IP evaluation and a goal to get locally made chips into the supply chain by 2030; separate news shows two Malaysian firms gained Arm compute access to speed integrated circuit R&D. Corporate Moves & M&A: James Hardie agreed to sell its European Fermacell business to Holcim for €840m, aiming to exit Europe and return capital; Bunker Hill and Silver47 announced a merger to form a U.S. silver and critical minerals champion. Energy & Manufacturing: Euler Motors expanded its Palwal plant with an INR 100 crore investment to scale electric 4W production; Tenaga Nasional stressed grid resilience and renewable integration at an ASEAN operational excellence summit. Geopolitics & Trade: Iran-Iraq trade talks in Baghdad included calls to shift away from the dollar, while China rejected U.S. pressure to join renewed Iran sanctions. Business Finance & Markets: Bitcoin jumped nearly 9% on short squeezes and inflows; Goldman climbed to 2nd among Indian investment banks.