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billion in 2026, marking a new peak in their bilateral merchandise trade. Both leaders expressed satisfaction with this significant milestone and reaffirmed their commitment to further enhancing trade relations. The UAE-India partnership continues to deepen through enhanced trade agreements and high-level engagements, solidifying their position as key strategic allies in the region.

Oman experienced a 3.4% increase in its annual inflation rate in August 2026, driven by rising transport and food costs. Transport prices climbed by 8.5% compared to the previous year, while food and non-alcoholic beverages saw a 7% rise. The highest annual inflation rate among the governorates was 4.8% in Al Dhahirah, with vegetables surging by 19% and fruit prices rising by 16.3%. Meat costs increased by 9.8%, while milk, cheese, and eggs advanced by 3%. Overall, food prices led the inflation surge in August.

During his official state visit to Germany, President His Highness Sheikh Mohamed bin Zayed Al Nahyan held a meeting with German business leaders and corporate executives in Berlin. The gathering included a high-level roundtable where the UAE President was briefed extensively on company operations, industrial developments, and technological advances across vital European manufacturing domains. This visit marks a step forward as both countries seek to deepen cross-border trade, bolster joint venture investments, and enhance bilateral commercial relations within strategic growth markets.

During the co-chair session with Russian Minister of Industry and Trade Anton Alikhanov, Indian Union Minister of Commerce and Industry Piyush Goyal emphasized strategic goals aimed at doubling non-energy trade. Data provided by the Press Information Bureau illustrates notable growth in India’s agricultural and processed food exports to Russia. Indian exports of meat products increased 170 percent from $36 million to $97 million, while shipments of marine products reached $159 million, reflecting heightened consumer demand in Russia. The expanded commercial push aims to diversify beyond traditional energy exports. Both nations identified pharmaceuticals, engineering goods, automotive parts, chemicals, and textiles as key sectors for expanding volumes. To facilitate bilateral capital flows, authorities are expediting negotiations on a new Bilateral Investment Treaty and progressing discussions on a free trade agreement between India and the Eurasian Economic Union. INNOPROM India Event Showcases Leading Industrial Delegations in Delhi In-depth discussions centered on overcoming financial and logistical obstacles hindering cross-border transactions. Officials confirmed ongoing efforts to strengthen national and local currency settlement systems, decreasing dependence on third-party banking networks. Enhancing infrastructure along the International North-South Transport Corridor and the maritime route linking Chennai and Vladivostok remains vital to improving supply chain reliability between South Asian and Russian industrial centers. India and Russia have set a bilateral trade goal of $100 billion by 2030, with both governments aiming for $50 billion in mutual investments across advanced manufacturing, energy, mining, and technology sectors. The current priority

UAE investment in Germany targets industry, AI, digital infrastructure and energy. A key aspect of the UAE’s financial package involves digital infrastructure. The two governments outlined plans to develop advanced data centres with a combined capacity of about 1 gigawatt in Germany. The joint declaration also addressed areas such as artificial intelligence, industrial development, and energy initiatives. Germany agreed to facilitate the conditions necessary for the execution of these planned data-centre projects.

Berlin state visit brings new UAE-Germany agreements and a major investment package. The governments also agreed to set up a German-UAE Investment Council to strengthen collaboration between public and private sectors. They revived the Joint Economic Committee as another platform for discussions related to trade and investment. The Strategic Dialogue will address topics including security, defense, commerce, energy, climate policy, transport, education, and digital innovation. It will further promote cooperation on emerging technologies and other shared policy initiatives. Germany and the UAE also signed separate arrangements that cover legal assistance, crime prevention, data systems, and government information services. Another significant aspect of the visit involved aviation. The new measures facilitate expanded access for UAE national airlines operating at Berlin Airport. Additional agreements focus on passenger procedures and coordination among relevant authorities. The package also includes collaborations in defense, security, and environmental sectors. A memorandum on cultural cooperation was signed, and both countries agreed to continue joint efforts in energy, including liquefied natural gas, renewable energy, and hydrogen. Economic ties expanded through a substantial investment package The visit featured a UAE investment initiative valued at 40 billion euros for Germany. This plan aims to develop digital infrastructure, including new data centers with approximately 1 gigawatt of capacity. Companies from both nations formalized 29 commercial agreements and memoranda exceeding 9.356 billion euros, supplementing the governmental accords announced in Berlin. This investment package introduces a significant economic dimension to the state visit and the broader cooperation framework. Data on trade and

Gold prices maintained levels above $4,400 an ounce on Thursday after bouncing back from an earlier decline seen in the previous session. Spot gold increased 0.3% to $4,414.28 an ounce by 0419 GMT. Meanwhile, U.S. gold futures for December delivery edged down 0.1% to $4,457.20. The dollar remained subdued during Asian trading hours, which bolstered bullion priced in the U.S. currency. After rebounding from earlier losses, gold entered Thursday close to the higher levels reached late Wednesday.

El Niño drought puts fresh pressure on Panama Canal capacity and reservoir levels. (AI-generated image) The Panama Canal Authority initiated capacity cuts after rainfall and watershed inflows fell short of projections during the rainy season. Initially, daily crossings dropped from higher figures to 34 before the scheduled decrease to 32. The canal relies heavily on freshwater stored in Gatun Lake and Alhajuela Lake to operate its lock system. Each transit demands water to elevate or lower vessels traveling between the Atlantic and Pacific oceans. Throughout fiscal 2026, the canal averaged 35 transits per day up to June 30. Between October and June, it recorded 10,726 crossings, which represents a 5.2% rise compared to the same period in the previous year. These numbers were reported before deteriorating rainfall conditions led to new operational restrictions. The canal continues to serve as a vital route for container ships, tankers, bulk carriers, and other vessels involved in global trade. Reservoir Levels Dictate Daily Transit Capacity Water availability has historically determined the number of ships able to pass through during dry spells. During the intense 2023 drought, daily transits plunged to 22 in December as Gatun Lake’s water levels reached unusually low points. Conditions improved after rainfall resumed and conservation efforts aided in reservoir recovery. Currently, canal administrators monitor lake levels, watershed inflows, and precipitation to establish daily operational capacities. Furthermore, officials have modified vessel draft regulations in response to current water management strategies. Although

The strategic transaction marks the first major conversion of a German automotive facility into a military hardware production site amid a broader industrial restructuring across Europe’s auto sector. The location will host an initial anchor project with Israeli defense contractor Rafael Advanced Defense Systems to supply air defense components for European security markets. Skilled technical workers inspect precision machinery components on modern factory floors. Under the joint ownership framework, Tel Aviv-based investment firm Aurelius Capital will assume a majority equity stake in the facility, while the state government of Lower Saxony, Volkswagen’s second-largest shareholder, will hold a minority interest. The initial anchor project for the repurposed site involves a manufacturing partnership with state-owned Israeli defense contractor Rafael Advanced Defense Systems. Operational plans focus on the domestic fabrication of specialized systems and mechanical components for air defense infrastructure intended for procurement by Germany and European allied nations. The decision to repurpose the Osnabrück site follows Volkswagen’s 2024 strategic determination to end passenger vehicle assembly at the factory by mid-2027 due to persistent industrial overcapacity. According to statement disclosures from the factory works council, the defense manufacturing agreement aims to secure approximately 1,200 specialized technical positions at the facility. Israel Aurelius German state to take over VWs Osnabrueck plant defense projects as European vehicle manufacturers explore alternative industrial conversions to absorb excess manufacturing capacity. Israeli Private Equity Group Partners With Lower Saxony State Government The executive leadership of the Wolfsburg-based automaker underscored that this sale aligns with broader corporate efficiency initiatives

Egypt’s net international reserves reached an all-time high of $57.2145 billion at the end of August 2026. The Central Bank of Egypt announced this provisional figure on September 7. As of July’s close, reserves had been $56.2939 billion. The monthly rise was approximately $920.6 million, or 1.6%. This total marks the first occasion when Egypt’s official reserve holdings have exceeded $57 billion.