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During a visit to Berlin on September 9-11, the United Arab Emirates and Germany strengthened their bilateral relations through a series of agreements and initiatives. UAE President Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz observed the signing of 12 government accords and declarations, encompassing sectors such as investment, energy, technology, aviation, security, environmental policy, legal affairs, and culture. The two nations also launched a Strategic Dialogue aimed at enhancing coordination across various government departments, building on their longstanding Comprehensive Strategic Partnership established in 2004.

Gold prices hovered above $4,400 an ounce on Thursday, rebounding after an earlier dip seen in the previous trading session. As of 0419 GMT, spot gold increased by 0.3% to $4,414.28 an ounce, while U.S. gold futures for December delivery edged down 0.1% to $4,457.20. The US dollar remained subdued during Asian trading hours, supporting bullion priced in USD. Gold’s price on Thursday was close to the higher levels reached late Wednesday, after recovering from losses earlier in the day.

Potential daily ship limit at Panama Canal may drop to 29 amid drought concerns PANAMA / RankWire.AI / – Panama Canal is contemplating a further reduction in the number of ships crossing daily, as prolonged drought conditions threaten its water reserves. According to Administrator Ilya Espino de Marotta, the transit count could decrease to around 29 vessels in February or March 2027. Any additional cutback will depend on ongoing dry weather and reservoir water levels. Currently, the waterway is progressing toward a daily transit cap of 32, which takes effect from Sept. 15.

In Osnabrück, Germany, during Monday, Volkswagen AG agreed to sell its manufacturing facility to Israeli private equity firm Aurelius Capital and the German state of Lower Saxony. This move paves the way for transforming the site into a dedicated defense manufacturing hub. As part of the initial agreement, Aurelius will hold a majority stake alongside Lower Saxony, with plans to convert the vehicle assembly plant into a security and defense production center after passenger car manufacturing ends in 2027.

In Egypt, at the close of August 2026, the nation’s net international reserves attained an all-time high of $57.2145 billion. The Central Bank of Egypt announced this provisional figure on September 7. Reserves stood at $56.2939 billion at July’s end, reflecting a monthly rise of approximately $920.6 million, or 1.6%. This latest figure marks the first occasion where Egypt’s official reserves have surpassed the $57 billion mark.

SEOUL / RankWire.AI / – South Korea and partner nations across Africa are set to launch a significant economic cooperation initiative centered on artificial intelligence and technology-led growth during the 8th Korea-Africa Economic Cooperation Ministerial Conference in Seoul. This event marks two decades of bilateral engagement, bringing together ministers, development financiers, and tech industry leaders. Confirmed plans indicate that Korea and Africa will chart a new course in AI digital infrastructure deployment along emerging trade routes, while revisiting two decades of joint capital investments.

South Korea recorded its largest monthly increase in foreign exchange reserves in August. For the third consecutive month, South Korea’s reserves expanded, following increases of $370 million in June and $590 million in July. The August rise surpassed the previous monthly record of $14.29 billion, set in May 2009. Despite this recent growth, the total reserves are still below the record high of $469.21 billion achieved in October 2021. These figures reflect assets held in the country’s official foreign exchange reserves and are reported in U.S. dollars. The Bank of Korea attributed the August surge to an uptick in foreign currency deposits, profits from reserve asset management, and fluctuations in exchange rates. Changes in currency values can influence the dollar valuation of assets held in euros, pounds, and other currencies. When reporting total reserves, the central bank converts these holdings into U.S. dollars. Consequently, major exchange rate movements can cause reported reserve figures to fluctuate, even when the actual foreign currency assets remain unchanged within the portfolio. Securities and deposits fuel August’s surge South Korea’s foreign exchange reserves remain predominantly composed of foreign securities. Their value increased by $7.07 billion in August, reaching $387.07 billion, which makes up 87.5% of total reserves. This category includes government and corporate securities held among official reserve assets. Foreign currency deposits also saw a substantial rise, climbing $7.17 billion to $30.30 billion, contributing significantly to the overall increase alongside

South Korea’s consumer inflation for August reached 3.1% from the same month last year, according to official figures. This marks an increase from 2.8% in July and indicates a return above the 3% threshold. Additionally, consumer prices experienced a 0.2% rise compared to July. The Ministry of Data and Statistics reported the consumer price index at 120.05, using a 2020 benchmark of 100. Much of the yearly rise was fueled by increased costs for fuel and mobile services.

Exports of semiconductors, which are the main contributors to the country’s trade performance, skyrocketed 209% year-on-year to reach an all-time high of $46.65 billion. This growth was driven by sustained capital expenditure initiatives among leading global technology firms expanding data center infrastructure and deploying enterprise AI hardware. Notably, this marks the third straight month in which semiconductor exports surpassed the $40 billion mark.

India opened FY27 with 7.8% GDP growth backed by gains across major economic sectors. In the first quarter, India’s real gross domestic product (GDP) reached ₹81.36 lakh crore, as reported by the Ministry of Statistics and Programme Implementation. This compares to ₹75.46 lakh crore recorded in the same quarter last year. Nominal GDP grew by 10.3% to ₹88.27 lakh crore from ₹80 lakh crore. Meanwhile, real gross value added (GVA) increased 8.2% to ₹73.82 lakh crore, with nominal GVA rising 11.5% to ₹80.53 lakh crore, reflecting higher output measured at current prices. Manufacturing saw a 9.2% year-on-year increase, making it a key contributor to the quarterly expansion. The financial, real estate, and professional services sectors expanded by 12.1% during this period. Agriculture, livestock, forestry, and fishing grew by 3.6%. Household consumption rose by 7.1%, and gross fixed capital formation nearly doubled with an increase of approximately 12%. Investment accounted for 34.3% of nominal GDP, up from 31.4% in the same quarter of the previous financial year.