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A five-year wheat supply deal valued at up to US$500 million between the UAE and Egypt has been officially put into effect. Al Dahra Agriculture Trading will deliver imported wheat to Egypt’s General Authority for Supply Commodities under this arrangement. The financing for these transactions is provided through the Abu Dhabi Exports Office. This agreement formalizes a framework set in 2023 and establishes the terms for wheat transactions between Al Dahra and GASC over the course of five years.

Oil prices rebound as Brent and WTI recover after Monday’s sharp decline. Brent closed Monday at $92.17 a barrel, reflecting a decrease of $2.22, or 2.35%, from the previous close. WTI settled at $85.01 after a $2.05 fall, also representing a 2.35% decline. During the trading session, the U.S. benchmark hit a one-week low. After two weeks of price gains, markets reversed course as new U.S. measures related to Iran influenced trading dynamics. Supply concerns continue to dominate the oil market, especially with ongoing tensions involving the United States, Israel, and Iran.

Alibaba Group has announced a HK$80 billion share issuance aimed at boosting investments in artificial intelligence and cloud technology. The Chinese tech giant will distribute 710 million new ordinary shares at HK$112.70 each. The total proceeds are approximately US$10.2 billion based on current exchange rates. The company anticipates the deal to close by Aug. 26, pending standard closing conditions. The funds are earmarked for further development of its AI-related operations.

PanStar Acro is carrying commercial cargo on South Korea’s Arctic shipping trial. During its voyage, the ship will carry 837 TEU, with 737 TEU of commercial freight onboard. Its cargo includes chemical products, used vehicles and automotive components, as well as 100 empty containers. The vessel is operated by PanStar Line, which is conducting this trial with support from the government. The Arctic segment is expected to begin around August 30, covering roughly 6,400 kilometers and is scheduled to conclude approximately September 7 as per the published timetable. Following the Arctic passage, PanStar Acro will proceed to three designated ports in Europe. The first stop is Felixstowe in Britain on September 9, then Rotterdam on September 11, and finally Gdansk on September 15. Afterwards, the vessel will commence its return trip via the same northern corridor towards South Korea. The route from Busan to Rotterdam is planned to cover about 13,000 kilometers, which is significantly shorter than the approximately 20,000-kilometer route through the Suez Canal. Commercial freight tests Arctic shipping capabilities Preparation efforts by South Korean authorities included equipping the vessel and crew for the challenging conditions expected along the northern route. Navigators completed specialized training for polar waters prior to departure. An experienced polar navigator, who previously served aboard the Araon icebreaking research vessel, joined the crew as chief officer. Insurance coverage, emergency protocols, and international regulatory compliance were also addressed. Throughout

Egypt’s central bank kept its primary interest rates steady on August 20, marking a fourth consecutive policy meeting without changes to borrowing costs. The overnight deposit rate stayed at 19%, while the overnight lending rate remained at 20%. Both the main operation rate and discount rate were held at 19.5%. Since its February rate reduction, the Central Bank of Egypt has maintained these levels.

In July 2026, Japan achieved historic highs in both import and export values for a single month, driven by escalating energy expenses and robust demand for technology. Imports increased by 27.8% compared to the same month last year, reaching approximately 12.15 trillion yen. Exports grew by 23.2% to about 11.51 trillion yen. The Ministry of Finance reported a trade deficit of 634.5 billion yen, as the pace of import growth exceeded that of exports during this period.

U.S. equities closed higher on Wednesday, buoyed by a significant drop in long-term Treasury yields, which supported Wall Street’s recovery. The S&P 500 increased by 16.22 points, or 0.21%, finishing at 7,707.98. The Dow Jones Industrial Average advanced 119.65 points, or 0.22%, to close at 53,463.05. Meanwhile, the Nasdaq Composite rose 41.38 points, or 0.16%, ending the day at 26,331.09. These gains halted a three-day losing streak across all three major U.S. indices.

On Friday, global markets for precious metals saw a downturn as spot gold prices declined, setting the stage for a weekly decrease. According to market data, spot gold fell 0.5 percent to trade at $4,326.75 per ounce. Meanwhile, United States gold futures for December delivery dropped nearly 1.0 percent to $4,382.50 per ounce. The market experienced a temporary surge on Thursday, when bullion prices surged to levels not seen in over two months, before retreating 1.3 percent amid profit-taking activities.

In July 2026, global electric vehicle sales saw a 9% rise compared to the previous year, totaling 1.85 million units worldwide. Europe led major EV markets in July as global electric vehicle demand continued to grow. Sales in the region climbed 33% from the previous year to approximately 450,000 vehicles. From January to July, EV sales in Europe increased by 28%. July alone saw France achieve an 81% annual growth, Germany recorded a 46% rise, and the United Kingdom experienced a 43% jump.

In July 2026, South Korea’s automotive export figures surged by 7.0% year-over-year, reaching a total of US$6.24 billion. This milestone set a new record for July and surpassed the previous peak of US$5.90 billion recorded in 2023. The Ministry of Trade, Industry and Resources announced increases across exports, manufacturing, and domestic sales. The number of vehicles produced grew by 11.3% to approximately 352,000 units, while domestic sales experienced a slight rise of 0.5%, totaling 139,000 units.