AGP Executive Report

Corporate & Markets: The Trade Desk shares plunged after its first guidance since a C-suite rebuild pointed to a ~12% revenue decline, underscoring how quickly ad-tech sentiment can flip. M&A & Investment: KKR agreed to buy Medicover’s India hospital business in a deal valuing the platform at about €1.2B ($1.4B), while American Healthcare REIT pushed a $1.4B year-to-date investment push into long-term care. Regulation & Permits: Aurora, Colorado is weighing a socioeconomic impact permit for certain businesses and a moratorium on new data-center development pending new rules. Housing & Rights: Hawaii’s “blood quantum” housing rule is being challenged in federal court, with plaintiffs arguing ancestry-based eligibility unlawfully blocks access to long-term leases. Trade & Growth: The WTO said global merchandise trade stayed resilient in Q1 2026 as AI-related electronics demand offset Middle East shipping disruption. Regional Economies: East Africa is targeting 50% intra-regional trade by 2030, with leaders urging firms to use the Single Customs Territory to cut friction. Business Climate Narrative: A Colorado report highlights mixed signals—GDP strength alongside peer lag—showing why investment decisions can’t rely on one headline metric. Local Business Impact: Small-business owners in multiple cities are feeling the real-world drag from infrastructure and policy: repeated water main breaks in Austin and permit delays affecting downtown foot traffic.

Philippines Growth Watch: Malacañang said the economy’s 2.3% Q2 expansion is “only temporary,” blaming Middle East-driven pressure on inflation, fuel, jobs and remittances, while pointing to faster public spending to lift momentum in H2. Aerospace Demand: Airbus booked 204 aircraft orders in July (up from June), but deliveries fell 25% to 67—another sign of uneven supply-demand dynamics. China Trade Momentum: China’s July trade stayed strong: exports rose ~24% and imports ~27.5% year-on-year, with the surplus narrowing as high-tech shipments and vehicles kept driving gains. M&A and Media: The Paramount–Warner Bros. Discovery mega-merger fight is intensifying, with regulators and state attorneys-general drawn in over control of major media assets. Insurance Deal: Hanwha Life, Heungkuk Life and Korea Investment Holdings submitted bids for KDB Life in the seventh sale attempt, spotlighting consolidation pressure in Korea’s life insurance market. Digital Gold Regulation (India): India is moving toward a formal framework for digital gold next year, aiming for physical gold backing, clearer disclosures and stronger consumer protection. Small-Business Tax Relief (UAE): The UAE extended Small Business Relief eligibility through tax periods ending by Dec. 31, 2029. Inflation (Pakistan): Weekly inflation rose 0.28% and annual inflation hit 9.29%, with food items like onions and chicken driving the latest uptick.

Energy Infrastructure: NGCP says the Visayas hit an all-time peak demand of 2,779.37MW (May 14) and relies on imports (200MW from Luzon, 450MW from Mindanao), with most Yellow/Red alerts driven by unplanned outages—raising pressure for more reliable baseload capacity. Aviation & Jobs: Lufthansa Technik Philippines broke ground on a Clark MRO facility on a 157,000 sq m site, aiming for up to 1,200 skilled jobs and capacity for nine wide-body aircraft by a second phase after 2028. Local Business Support: Decatur is taking applications for its Business Facade Improvement Program, offering grants up to $25,000 for storefront, signage, lighting, landscaping and renovation (min $5,000), with applications open through end of August. Capital Markets & Regulation: Canada’s CIRO halted trading in Jamieson Wellness (JWEL) pending news; Pakistan’s PSX crossed 600,000 investors in July as Gen Z and first-time retail participation grows. Trade & Tariffs: Canada’s PM Mark Carney said US trade talks turned “nasty” after Trump tariff threats; Mexico’s central bank held rates at 6.5% and pushed its inflation-to-target timeline to 2027. M&A/Dealmaking: Maryland moved to a new Preakness/Black-Eyed Susan schedule and media rights partnership after acquiring IP rights from 1/ST Racing. Corporate/Market Risk: JPMorgan’s Jamie Dimon warned hidden leverage and “off-the-books” debt could trigger sudden market stress. Sports Business: UEFA kept its World Cup boycott despite FIFA shelving its private investment plan after Infantino’s Morocco meeting.

Inflation Watch: The Philippines’ headline inflation eased to 6.2% in July (from 6.4% in June), with transport costs cooling and food prices steady, while the central bank signaled it’s ready to act if pressures persist. Corporate Turnaround: Diageo shares jumped after new CEO Dave Lewis pledged up to $850m in cost savings, aiming to stabilize sales after a tough year. M&A/Pharma: AstraZeneca and Bristol Myers Squibb denied any merger talks, dousing speculation that had rattled AstraZeneca’s stock. Crypto & Markets: Bitcoin hovered near $65,000 as investors weighed macro hopes tied to potential Strait of Hormuz shipping progress, keeping risk assets in a cautious mood. Investment & Growth: Global travel and tourism investment topped $1tn in 2025 for the first time since 2019, with policy support and capital flows driving jobs and GDP. SME Finance: South Africa’s Business Partners launched a R150m SME Youth Jobs Fund to help firms hire 18–35-year-olds, targeting about 1,000 new jobs. Energy & Policy: The Philippines also moved to streamline solar rules for self-consumption, cutting red tape to speed rooftop adoption. Trade Links: Kuwait and Kazakhstan discussed ways to deepen cooperation across trade, economy and food security.

Municipal Finance Reform (Canada): Peterborough City Council voted to join Ontario’s ONE Joint Investment Board, shifting city cash from the old “Legal List” model toward the Prudent Investor Standard—opening the door to a wider, more diversified set of investments. Credit Union M&A (Canada): Cascadia Credit Union has applied to merge with Vancouver’s Greater Vancouver Community Credit Union, with a member vote expected this fall if B.C. regulators approve. Corporate Forecasts (Global): Corpay lifted full-year revenue and adjusted earnings forecasts after stronger Q2 profit, driven by growth in corporate and vehicle payments. Healthcare Restructuring (Global): Solventum plans to separate its health information systems business as part of a turnaround, while raising its 2026 organic sales and profit outlook. Trade & Tariffs (Canada-U.S.): Prime Minister Mark Carney said Canada’s stance toward the U.S. is “quite firm” but negotiations remain constructive ahead of an Aug. 19 tariff deadline. Investor Protection (Canada): Saskatchewan warned residents about an impersonation scam using “T. Rowe Price Group USA,” urging checks of registration status before investing. Public Investment & Governance (South Africa): Finance Minister Enoch Godongwana said a High Court ruling invalidating the suspension of PIC CEO Patrick Dlamini vindicates Treasury’s governance actions. Job & Business Support (U.S.): Pennsylvania’s $20m “main street” funding includes Etna projects aimed at keeping storefronts active, including stormwater and streetscaping. Scam Watch (Global): Multiple investor-alert items flagged potential securities class-action investigations and fraud schemes, reinforcing the need for due diligence before committing capital.

UK Jobs & Inflation: S&P Global’s PMI showed UK private-sector activity back in growth, but services firms kept cutting jobs for a 22nd straight month, underscoring a stubborn labor-market slump. Philippines Inflation & Markets: Manila’s July inflation eased to 6.2% from 6.4% as transport costs cooled, yet the PSEi slipped on profit-taking and overseas uncertainty. China Trade Security: China launched its first foreign-trade national security probe into imported office printers/copiers using foreign system software, while also tightening export controls on drones to the US and blacklisting firms. Energy & Oil Outlook: Goldman expects Brent to trade around $80–90 amid Middle East risk, with inventories and Red Sea capacity tightening. Investment & Regulation: SEBI fined/penalized Modulus Alternatives Investment Managers over FX drawdown timing in an AIF; NSE warned investors against illegal “dabba” trading schemes. M&A & Finance: Boerse Stuttgart Digital and Tradias completed a merger to build a ~300-employee institutional crypto platform. Regional Growth Plans: India’s Andhra Pradesh targets up to Rs 9 lakh crore for the Visakhapatnam economic region, including AI data centers and port-linked industries. FX & Corporate Moves: Maldives’ BML shifted FX investment payouts to US dollars; Shell approved Malikai Phase 3 offshore investment.

Markets & Inflation Watch: The Philippine Stock Exchange index slipped 0.60% to 6,296.64 as investors stayed cautious on Middle East tensions and waited for July inflation data, though foreign investors still bought shares. Trade & Industrial Policy: Malaysia’s Free Industrial Zones posted RM106.7B in exports in 1H 2026, while MITI flagged EU Carbon Border Adjustment Mechanism costs for its iron and steel sector at up to RM970.7M in 2026. Water, Power & Data Centers: Malaysia is exploring seawater desalination to support water-hungry industries like data centers, but says it must weigh energy use, costs, and public water priorities. Bilateral Business Deals: Mozambique’s business group and Texas-Africa Chamber of Commerce signed an MoU to boost U.S.-Mozambique trade and investment across energy, infrastructure, manufacturing, agriculture, and renewables. Local Business & Compliance: India’s Maharashtra FDA suspended a sweet shop’s license after hygiene and sanitation violations. Security & Disruption: A crash damaged an Illinois business and injured an officer, while police in Pennsylvania investigated multiple shots fired at a cigar lounge with no reported injuries. Corporate/Investor Legal Alerts: New class-action investigations were filed involving VenHub, Photronics, GPGI, ZoomInfo, and others, as investors react to reported financial stress and guidance concerns.

AI & Enterprise Search: New analysis says technical SEO is turning into a business-critical function as AI-driven search raises the stakes for crawlability, site performance, and structured content. Corporate & Legal: OpenAI hit back in Apple’s trade-secrets fight, saying the claims are false and sharing internal messages to argue there was no wrongdoing. M&A Watch: Gov. Newsom urged his AG to end a lawsuit aimed at blocking the Paramount–Warner Bros. merger. Tech Infrastructure: Kioxia will showcase PCIe 6.0 SSDs for AI data centers, including drives built for direct liquid cooling. Energy & Transport Investment: South Africa’s Traxtion took delivery of the first locomotives for a R3.4bn rail upgrade plan. Markets & FX: Bitcoin held near $63,600 after US-Japan yen support revived carry-trade jitters. Trade & Policy: Malaysia’s Statistics Bill 2026 won approval with a data-sharing approach that avoids new systems for MSMEs; Malaysia also weighs an EV levy to fund public charging. Sports Business: MLB’s deadline delivered major trades, including the Dodgers landing Tarik Skubal and the Red Sox acquiring Adley Rutschman.

MLB Trade Deadline: The Yankees added offense by acquiring Giants outfielder Heliot Ramos, sending prospects Henry Lalane and Kaeden Kent to San Francisco, while the Red Sox landed catcher Adley Rutschman from the Orioles in a deal that also moved top prospect Anthony Eyanson and other pieces; Bullpen & rotation reshuffles: the Mets offloaded reliever Luke Weaver to the Pirates, and the Phillies strengthened their bullpen with lefty Brooks Raley from the Mets; More deadline movement: Cleveland agreed to get left-hander Foster Griffin from Washington, Seattle acquired Taylor Ward from Baltimore, and the Tigers traded Casey Mize to the Padres for prospects Kash Mayfield and Jackson Wolf; Business & policy: Virginia’s childcare investment plan projects $1.68B in annual spending generating $1.79B in returns, while Indonesia and Thailand pushed a roadmap targeting $20B in bilateral trade by 2030; Local economy: BlueCross Healthy Place put $10M into Chattanooga’s Riverfront Parks NEXT, and Century Bank and Trust closed a Coldwater drive-thru as it remodels its main branch.

Big Pharma M&A: AstraZeneca is in talks to buy Bristol Myers Squibb in a potential ~$400bn mega-deal, but investors sent AstraZeneca shares down as shareholders question the logic and regulatory overlap. Energy Deals: TotalEnergies agreed to buy Shell’s European onshore renewables business, while also selling part of a wind/solar portfolio to KKR—moves that reshape Europe’s clean-power landscape. Inflation Watch: Türkiye’s annual inflation eased to 31.75% in July, and Indonesia reported 2.88% annual inflation, with transport and food still driving the mix. Central Banks: Fed officials signaled inflation is easing, but John Williams warned rate hikes are on the table if core progress stalls. Trade & Investment: India’s Piyush Goyal urged doubling India–Uzbekistan trade in three years as both sides push co-investment and mining/rare-earth opportunities. Corporate Finance: MISC shares rose after securing a 10-year charter for a new LNG carrier tied to Petronas’ Bintulu complex. Public Policy: France tightened foreign investment screening to catch smaller stake buys in sensitive sectors. Regional Growth: Malaysia’s Iskandar Malaysia blueprint and RTS Link completion are expected to lift investor confidence in manufacturing and data centres. Sports Business: MLB’s trade deadline delivered blockbuster pitching moves (Dodgers’ Skubal, Yankees’ Garcia Jr.), underscoring how fast capital and talent now chase wins.

MLB Deadline Deals: The Dodgers landed two-time Cy Young winner Tarik Skubal from the Tigers, while the Mets sent Freddy Peralta to the Rays for three prospects, reshaping AL playoff races. Offense Boost: The Yankees acquired Nationals slugger Luis García Jr. for four pitching prospects to help a lineup missing key bats. WNBA Deadline: Phoenix completed a blockbuster for Kelsey Plum, while the New York Liberty stood pat as the deadline passed. Inflation Watch (Philippines): July inflation likely held near 6.4% as fuel and electricity offset cheaper food, keeping pressure on the central bank to stay hawkish. Trade & Investment (Vietnam-EU): Six years after EVFTA, Vietnam-EU trade integration is delivering measurable gains and stronger business confidence. Corporate/Tech Glitch: A Google search AI summary falsely told an Iwate wholesaler it had shut down, highlighting risks in automated business information. Health/Deals (Biopharma): AstraZeneca explored a potential merger with Bristol Myers Squibb, per reports.

Inflation Watch (Philippines): July inflation likely held near 6.4% y/y as cheaper rice and vegetables were offset by higher fuel and electricity costs, keeping pressure on the central bank to stay hawkish. FX & Capital Flows (India): The rupee slid only 0.8% in July despite a 20%+ oil jump, helped by foreign inflows and RBI intervention. Food Inflation (India): A monsoon rebound may ease food prices, but uneven rainfall and El Niño risk mean the second half needs close monitoring. Trade & Connectivity (Bangladesh-Myanmar): Dhaka and Yangon agreed to restart border trade on a limited basis and push B2B links in agri, pharma, fisheries and frozen food, alongside sea/shipping connectivity talks. Energy Shock (Bangladesh RMG): A gas supply crisis is disrupting garment production and shipments, threatening export competitiveness unless supply and LNG infrastructure are accelerated. Governance & Business Setup (Qatar): Qatar launched a Business Guidance and Establishment Office to simplify company formation and support investors through the process. Telecom Crisis (Burundi): ABUCO says mobile internet and call quality are deteriorating and authorities have failed to act. Investment Governance (Social Security Fund): A Middle East-linked fund reiterated that investment decisions follow internal stages and are independent of government. Scam Alert (Malaysia): A woman lost RM290,910 to an online investment fraud scheme involving repeated payments and a fake “recovery” pitch. Sports Business (MLB): The Dodgers acquired Tarik Skubal from the Tigers in a deadline blockbuster, reshaping playoff odds and trade-market expectations.

FIFA Governance Shock: Gianni Infantino scrapped FIFA’s $20B World Cup private investment plan after backlash, but UEFA and CONCACAF escalated the fight—UEFA says it has “lost confidence” and demands a governance reset. Trade & Diplomacy: India-China border commerce restarted via Nathula and Shipki-La after years of shutdown, with traders and transport operators expected to benefit as ties normalize. US Aid & Security: USAID cuts froze about $950M in Uganda support, raising fears of wider instability across East Africa as refugee-hosting systems and security networks strain. Inflation & Retirement: A new retirement-focused piece warns inflation can quietly erode purchasing power, pushing readers toward growth-oriented planning and buffers. Fraud & Enforcement: DOJ’s Trade Fraud Task Force topped $1B in recoveries and charged losses, signaling tougher action against customs and supply-chain fraud. Local Business Compliance: Kuwait Municipality launched a campaign to push businesses into municipal rule compliance, aiming to prevent fines and closures. MLB Deadline Deals: The Yankees traded reliever Camilo Doval to the Pirates for prospects, while teams across the league position for Monday’s deadline.

Monetary Policy: Three US Fed policymakers dissented from a rate pause, arguing hikes are needed to stop inflation from becoming entrenched, as markets weigh how long the Fed can stay on hold. Markets & FX: Malaysia’s ringgit is expected to trade in a tight band next week as investors watch US data and Fed signals; Bursa Malaysia also expects an upside bias on resilient earnings and steadier trade worries. Inflation Watch: The Philippines flagged July inflation likely staying above target, driven by fuel, electricity, and peso weakness. Global Trade & Deals: India and Rwanda launched a joint trade committee focused on critical minerals, healthcare, digital tech, agriculture, and renewables; India-China resumed Nathu La border trade after a six-year gap. Energy Security: Malaysia said petrol and diesel supply at Petronas stations should remain stable until September amid monitoring for smuggling and supply diversification. Football Governance: FIFA scrapped its controversial plan to bring private investors into World Cup commercial rights after UEFA, AFC, and others pushed back, with Infantino facing leadership fallout. Corporate/Legal: India’s CBI registered an FIR against Reliance Capital and Anil Ambani over alleged EPFO-linked investment fraud totaling about Rs 1,816 crore. SME & Construction: Malaysia’s contractors urged faster rollout of 2026 projects; Nepal’s contractors’ federation launched a “Hello Federation” help service for construction disputes.

Inflation Watch (Philippines): The Bangko Sentral ng Pilipinas flagged July inflation likely stuck at 5.6%–6.6% y/y, driven by fuel and electricity costs, fish prices, and peso depreciation, with crude prices back above $100 after renewed Gulf fighting. Energy & Subsidies (Malaysia): Malaysia said it spent about RM1.25bn on LPG subsidies Jan–May 2026, while officials also reported Petronas fuel supply should stay stable until September amid efforts to curb leakage and smuggling. Trade & Investment (Pakistan–US): Pakistan’s deputy PM Ishaq Dar pushed to lift bilateral trade with the U.S. to $20bn in five years, pitching opportunities in AI, critical minerals, energy, manufacturing and defense. Regional Business (Sri Lanka): Brand Finance put Sri Lanka’s top 100 brands at a record Rs. 652bn, with banking brands driving 42% of total value, as the country seeks the next FX-earning breakthrough. Policy & Markets (FIFA): FIFA’s $20bn private investment plan faces mounting backlash, with Sepp Blatter and UEFA threatening action while FIFA says it will proceed with consultation. Local Growth (US): Kentucky’s ADM will expand natural color production with a $16m investment and 40+ jobs, and North Carolina’s $190m U.S. 221 bypass aims to redirect trucks and unlock new development.

Eurozone Inflation: Eurozone inflation rose to 2.9% in July, with the ECB weighing another rate hike as core and services costs climb. France Inflation: French consumer prices increased 2.1% year-on-year in July, driven by higher services and energy. US Growth & Inflation Pressure: The US economy slowed to 1.5% annualized growth in Q2, with war-linked price pressures and sticky inflation keeping markets nervous. Armenia Rates Watch: Armenia may see some price relief from Russia export restrictions, but a Central Bank rate cut is unlikely. Energy & LNG: If US-Iran peace talks progress, Rystad expects further declines in Asian LNG prices, though tight Gulf supply may limit the drop. Trade & Geopolitics: WTO says AI is boosting global trade even as Middle East tensions threaten future disruption. UK Business Finance: BP has started the process to sell its North Sea oil and gas business amid portfolio reshaping. Regulation & M&A: CMA opened a Phase 1 probe into Co-op Group’s merger with Southern Co-op. FIFA Governance Clash: UEFA threatened a World Cup boycott over FIFA’s private investment plan; FIFA says consultations will continue. Aviation Finance: Philippine Airlines expanded its bond offering by $50m to $350m to fund fleet and route growth. Tech & Drones: Lantronix and Swarmer are building an edge compute platform to boost small-drone autonomy for defense programs. Sports Trade Deadline: MLB teams are active ahead of the deadline, including the Mets sending A.J. Minter to the Twins for prospects.