AGP Executive Report

SEC Oversight: Trade groups backed the SEC’s proposed overhaul of the Consolidated Audit Trail, arguing for a new funding model and stronger privacy protections as the agency weighs next steps after a June 22 comment deadline. M&A Watch: Gold Resource Corp’s shareholders approved its merger with Goldgroup, with closing expected around July 17 after a share consolidation. Investment Execution: The U.S. Commerce Department named Andrew Silberstein to lead the Investment Accelerator, tasked with delivering major partner commitments tied to semiconductors, energy and critical minerals. Trade Diplomacy: China and the EU agreed to keep meeting under a trade-and-investment consultation mechanism this autumn, with AI and the green transition on the agenda. Regional Trade Economics: Malaysia reported January–May 2026 trade growth, saying a stronger ringgit improved export competitiveness and helped lift the surplus. Small Business Hiring: NFIB said job openings rose in June, but many owners still can’t find qualified workers. Energy & Mobility for Development: AfDB and IOM pushed the idea that safe, orderly migration supports regional integration and development. Crypto Investor Alerts: Rosen Law Firm urged FLOW investors to contact it about potential securities claims.

USMCA Review Tensions: Mexico says the US is not ready to automatically extend USMCA for another 16 years, while talks also cover steel, aluminum and auto tariffs, farm import rules, and a new “economic security” chapter on strategic minerals and supply chains. Inflation Watch: Pakistan’s CPI eased to 11.1% in June as transport costs fell, though food and essentials stayed a drag; Eurozone & Japan: euro-area inflation cooled to 2.8% and Japan’s tax take is set to top 84 trillion yen, with policymakers weighing possible food tax cuts. AI/Tech Investment: Meta is reportedly planning a separate cloud business to monetize AI compute and models; BearingPoint launches an outcome-based marketplace for AI agents. Deal & Capital Markets: ams OSRAM closed a EUR 570m sale of its sensor unit to Infineon; LemFi won UK FCA approval to buy Wealth8 and expand into wealthtech. Emerging Market Signals: World Bank reclassified Sri Lanka as upper-middle income; Saudi private-market foreign inflows hit SR20bn in 2025. Business & Trade Growth: India-Japan signed a MoC boosting trade and investment; Malaysia’s semiconductor and AI buildout is drawing optimism for higher-value manufacturing. Humanitarian Shock With Economic Fallout: Venezuela’s twin earthquakes are worsening into a medical crisis as injuries, infections and shortages strain care.

USMCA Uncertainty: Trump declined to extend the North American trade pact with Canada and Mexico, raising tariff and rules-of-origin worries for automakers and consumers. Fed Inflation Focus: Fed Chair Kevin Warsh reiterated the central bank won’t be comfortable with inflation above 2% and stressed independence, while markets watched for rate-path clarity. Semiconductor Profit-Sharing Pressure: South Korea’s chipmakers face calls to share “excess profits,” with policymakers floating wealth-fund and dividend-style options. Healthcare Logistics Investment: UPS put $48M into 27 temperature-controlled cross-dock facilities to expand cold-chain capacity for pharma and GLP-1 shipments. Corporate Restructuring: Ireland’s Rathwood secured court protection as a deal to save the retailer is expected this week. M&A in Power Finance: India’s PFC and REC approved REC’s merger into PFC, creating a major government-owned power financing entity. Oil Sector Integration: Kuwait marked the KIPIC–KNPC merger as a milestone for efficiency and integration across the oil value chain. Golden Visa Flows: Portugal Golden Visa funds saw €283M injected by May, nearly triple €94.7M in redemptions. Securities Fraud Probes: Robbins LLP opened investigations into VenHub, Astrotech, and Wheels Up over potential securities-law and fiduciary-duty issues.

NBA Trade Watch: The Clippers agreed to send Kawhi Leonard to the Toronto Raptors for Brandon Ingram, Gradey Dick, major draft assets and a 2027 pick swap, a high-profile move that signals roster reshaping and could shift player-market leverage. UK Defence Spending: The UK published its Defence Investment Plan, adding £15bn, but critics say it still lacks a credible path to NATO’s 3.5% GDP target and leaves funding questions unanswered. China Outbound Investment: China tightened rules on investing abroad from July 1, tightening national-security screening for global business expansion. Middle East Risk to Markets: Oil prices edged up as traders weighed US-Iran talks and Hormuz disruption risk, keeping pressure on inflation-sensitive economies. Trade & Logistics Costs: Ghana shippers complained about delayed container evacuations at Tema’s port, saying demurrage and storage penalties are rising while cargo sits at the terminal. SME Contract Financing: Malaysia launched an initiative to improve SMEs’ access to financing for government contracts via P2P platforms, training and support. Construction Outlook: The EU expects construction investment to rebound in 2026, led by civil engineering, but warns financing and administrative delays could still bite.

Rubber Incentives: Malaysia’s Rubber Board says no IPG payments will be made to rubber smallholders for June 2026 after cuplump farmgate prices stayed above the RM3/kg trigger across Peninsular Malaysia, Sabah and Sarawak. Local Business & Permits: A PostalAnnex franchise opened in National City, adding shipping, mailbox, notary and office services—another sign of steady demand for small-business support infrastructure. City–Chamber Partnerships: Lake Elsinore’s chamber highlights its role as a “who do I call” bridge to city departments, aiming to cut red tape for local operators. Economic Growth Planning: Wellington City Council appointed three expert business advisory groups to shape a five-year action plan across housing, tech/innovation, and arts/hospitality revitalisation. Manufacturing Grants: Flintshire County Council awarded £898k in match-funded grants to 15 manufacturers, targeting 79 jobs and helping firms modernise equipment and training as the Investment Zone develops. IMF Watch: Sri Lanka remains exposed to external shocks even as the Middle East crisis eases; the IMF urges continued reforms, tighter spending discipline and protection for the poorest. Cuba Implementation Reality Check: Cuba’s Díaz-Canel admitted the 176-measure reform package will require a different operating dynamic than the Economic Plan 2026—acknowledging internal execution hurdles. Energy & Trade: Shell expects global LNG trade to stay roughly flat in 2026 as Hormuz disruption trims supply, even as North America ramps liquefaction. Inflation vs AI Spending: Cleveland Fed President Beth Hammack warned that AI infrastructure demand could keep inflation elevated and may require higher rates. Cross-border Payments: Cashfree plans pilots for overseas investment, travel and B2B payments, betting cross-border margins and demand will grow as India integrates globally. UK Defence Investment: UK PM Keir Starmer pledged an extra £15bn to modernise armed forces, but critics flag funding gaps and timing risks for the incoming government. Business Climate Politics: In California, CalChamber’s endorsement of Xavier Becerra drew backlash from business groups over his record on labor enforcement.

Fed Independence Clash: The US Supreme Court ruled Fed governor Lisa Cook can stay for now, while expanding presidential power by upholding other Trump firings—raising fresh questions for central-bank independence and market stability. Inflation Watch (South Africa): South Africa’s inflation expectations jumped to 3.9% in the second quarter, complicating the Reserve Bank’s 3% target as policymakers prepare for the next rate decision. Tokenization Goes Public: Securitize cleared its merger hurdle and is set to debut on the NYSE as SECZ, betting on growing Wall Street demand for blockchain-based investment products. Trade Deal Momentum (India-US): US ambassador Sergio Gor said the India-US trade agreement is in the “last one or two per cent,” with a near-final phase of talks. Energy & Food Risks (Europe): RaboResearch warns Strait of Hormuz disruptions could keep energy costs high, pushing European food inflation back up into late 2026 and 2027. UK Cost-of-Living: UK living standards fell as real household disposable income per head dropped, even as GDP growth looked stronger than expected. Corporate & Capital Markets: Rocket Lab agreed to buy Iridium in an $8bn deal, while Zee Entertainment won approval for Rs 418 crore foreign investment from OFI Global China Fund. Africa Investment Push: Liberia launched a high-level diplomatic forum to reposition the country as a West Africa investment destination, aiming to turn goodwill into FDI.

Trade & Investment Diplomacy: Ontario and Utah signed a memorandum to boost cross-border trade across multiple sectors, adding to a growing web of U.S. state deals since 2023 as Canada prepares for the July 1 review of the Canada-U.S.-Mexico trade agreement. Central Banking & Inflation: The ECB’s Christine Lagarde defended its June rate hike as more than “insurance,” warning inflation could have stayed above target without it, with further meetings set for July 22-23. Aerospace Finance: Airbus secured a €1B EIB loan as the first tranche of a €3.4B package to fund R&D through 2030. Healthcare Tech: PLEXIS Healthcare Systems promoted its Quantum Choice® platform to help payers modernize claims operations without replacing core systems. Capital Markets/AI: Tema ETFs partnered with SemiAnalysis to launch research-driven semiconductor ETFs tied to the AI infrastructure buildout. Business Disruption & Local Economy: French Quarter owners sued over a nearly $10M water-infrastructure project on Decatur Street, alleging prolonged access problems and revenue losses. Logistics Demand: IATA reported May global air cargo demand up 6% year-on-year, with Middle East carriers still hit by war-related impacts. Sports Business: Reports say the Clippers and Raptors are in serious talks on a Kawhi Leonard trade, with a return to Canada on the table.

South Korea’s AI-and-chip push: President Lee Jae Myung unveiled a $576B plan anchored by Samsung and SK hynix, with 800T won in new chip lines in the southwest and 1,000T won for AI data centers, aiming to secure AI “core elements” and rebalance growth beyond Seoul. Telecom deal: BT won UK market attention after striking a $625m Verizon joint venture to run its international business, with equal voting rights and an equalisation payment to Verizon. Aviation consolidation: South Korea’s transport ministry approved the Korean Air–Asiana merger, targeting a 17 December launch and positioning the combined carrier among the world’s biggest by passenger capacity. EU trade friction: India urged the EU to exempt it from proposed metal scrap export curbs, warning bans could tighten supplies and raise costs for steel and aluminium. AI business software: Medipyxis launched an AI-driven “Business OS” for wound care, replacing up to seven tools to protect margins under tighter Medicare reimbursement. Capital markets oversight: Sri Lanka’s CSE began tightening rules on dormant investor accounts, requiring updated KYC before trading resumes. Local business resilience: Gauteng’s landfill crunch is driving a new waste partnership model, with a material recovery facility aimed at diverting hundreds of tonnes monthly. Sports-business crossover: The Charlotte Hornets traded Miles Bridges to the Phoenix Suns in a multi-asset deal, a reminder how roster moves can reshape team finances and tax exposure.

Tennessee Tax Transparency: Democratic lawmakers push SB 1009 to make business tax bills public, arguing it’s needed to judge whether big firms are paying their share. West Asia Trade & Energy Risk: The US and Iran traded strikes again after a peace deal, with the Strait of Hormuz dispute back in focus—raising uncertainty for oil-linked costs and global trade flows. Inflation Watch (Canada): Statistics Canada says May inflation rose to 3.2% as fuel and food pressures climbed, with grocery inflation running hotter than the overall rate. Cross-Border Trade Facilitation (Pakistan-Iran): Pakistan’s FBR declared Taftan railway station a land customs station to speed rail imports/exports and curb informal trade. SME Support (Tanzania): Yas Business launched a six-month programme to build SME skills in finance, marketing and digital transformation. Southeast Asia Infrastructure Investment: ADB approved up to $30m equity for a regional fund backing energy transition and digital infrastructure across SE Asia. AI Finance Risk: The BIS warns AI-related lending may be overleveraged, with compressed risk premia and stretched valuations. India GST “2.0” Push: A Deloitte survey finds near-universal business acceptance of GST’s digital system and growing demand for an AI-powered next phase. Corporate/Markets: Persistent Systems posted investor FAQs after its Nagarro merger update; SEC warned the public about unauthorized investment schemes tied to Empire X Capital and Astra Financial.

Middle East Tensions: Iran and the U.S. traded missile and drone strikes after a fragile interim deal, with attacks hitting U.S. sites in Kuwait and Bahrain and renewed risks to Strait of Hormuz shipping. Corporate Investment: Samsung and SK hynix are set to unveil major chip-sector investment plans early this week, potentially topping $650B over a decade, as South Korea pushes regional development. Inflation & Costs: Australia’s inflation eased to 4% and markets expect fewer rate hikes, while U.S. car prices stay pressured by inflation and semiconductor shortages. Trade & Logistics: Azerbaijan routed a new Russian wheat shipment to Armenia via rail corridors, underscoring how transit routes are reshaping regional trade flows. Business Climate Watch: Pakistan’s Karachi Cotton Exchange has been sealed/occupied, disrupting hundreds of offices and raising exporter and investor uncertainty. SME & Jobs Focus: Tanzania universities are rethinking graduate employment strategies amid a widening skills gap, while an AfCFTA push argues SMEs need trade finance to scale across borders. AI for Work: AI executive assistants are moving from novelty to core boardroom tools, with Microsoft and Google rolling out always-on capabilities.

Islamic Finance & Women’s Protection: Bank Muamalat Malaysia launched M-Zahra Takaful MyLadies and a Digital Faraid Calculator to boost Shariah-compliant financial literacy and estate planning. Public Spending & Local Growth: Ohio lawmakers approved Senate Bill 450, including $14m+ for southern Ohio projects and $3.7bn statewide capital investment. AI for Business Leaders: A Talbot County summit urged firms to adopt AI with practical frameworks, warning that power and infrastructure strain are real. M&A & Corporate Deals: Persistent Systems agreed a business combination with Nagarro via a EUR 81 per-share takeover offer backed by Nagarro management. Digital Banking Co-ops: Malaysia’s ANGKASA approved RM293m in new cooperative business plans, including an investment stake in Boost Bank. Mortgage & Rates: Freddie Mac said 30-year fixed mortgage rates edged up to 6.49%, keeping affordability pressure on buyers. Investor Litigation Deadlines: Rosen and Kessler Topaz flagged upcoming lead-plaintiff deadlines in securities class actions tied to Calix (July 27) and Verra Mobility (Aug 4). Geopolitics & Markets: Reports highlighted markets rattled by AI fears plus Iran tensions and inflation uncertainty. Trade & Investment Push: The EU renewed plans to expand investment in Nigeria and deepen regional trade ties. Crypto Market Risk: Circle faced pressure as USDC supply dipped, with stablecoin revenue linked to short-term bond yields.

Geopolitics and Trade: Iran and the US traded strikes in the Gulf after accusations over an attack on a cargo ship in the Strait of Hormuz, putting a fragile ceasefire and shipping stability under fresh strain. Markets and Inflation: Global shares slid as tech stocks faced renewed pressure tied to AI-bubble worries and stretched valuations; oil, gold and Bitcoin also weakened as rate-hike expectations rose. US-Iran Sanctions: The UN Security Council saw sharp blame over Sudan’s humanitarian crisis while the US announced a second round of economic sanctions on Sudan over chemical weapons use. Corporate Dealmaking: Persistent Systems agreed to combine with Nagarro in an AI-led digital engineering push, with a planned takeover offer at EUR 81 per share. M&A/Local Services: Two regional library systems are exploring a merger to streamline catalogs and services across multiple counties. Policy and Business Costs: Sri Lanka moved to speed imported-food inspections and port clearance after delays raised costs for consumers and importers. Trade Negotiations: The Philippines and Canada plan to accelerate free-trade talks during Marcos’s July visit, targeting completion this year. Inflation Measurement: India’s shift from WPI to PPI is set to refine how production-stage prices feed into policy decisions. Small Business Support: Pennsylvania announced a $25M child-care workforce investment, while Hawaiʻi launched a Kona Low recovery grant program with $475,000 for affected non-ag businesses. Sports Business (Trade): The NHL draft opened with major player/pick swaps, while NBA teams continued salary-driven moves, including Isaiah Joe headed to Detroit.

Inflation Watch: The Fed’s preferred inflation gauge jumped to a three-year high in May, driven largely by higher gas prices and pricier semiconductors—raising the odds of political pressure and complicating rate-cut hopes. EU Investment Rules: The EU published updated foreign investment screening rules, making screening mandatory across the bloc for strategic sectors while keeping final decisions with member states. Trade & Growth Partnerships: Nigeria and the EU reaffirmed a deeper strategic economic partnership at the Nigeria–EU Business Forum, pointing to reforms and investment tools to boost private-sector growth. Defense Spending: UK Prime Minister Keir Starmer offered an extra £1bn for the Armed Forces, but critics called it a “drop in the ocean” versus a reported multi-year funding gap. Business Expansion: UNSW will invest $65m over a decade in a new Western Sydney campus in Parramatta, with early courses starting in 2027. Corporate/Market Moves: Microsoft’s MAI-Code-1-Flash is now available in GitHub Copilot Business and Enterprise, aiming to speed up coding with centralized admin controls. Local Economy: Tennessee reported its second-highest-ever new business filings for a quarter, signaling continued momentum for job and investment growth.

Trade & Investment: China-EU tensions are rising as EU leaders push new rules amid a China trade deficit topping €1bn a day, while China and the US agreed to a new bilateral trade council to negotiate reciprocal tariff cuts. US-India Talks: India’s envoy met the US House Ways and Means Committee as an interim trade deal nears, with India insisting on a competitive tariff edge. Inflation & Rates: US PCE inflation hit 4.1% y/y, lifting rate-hike pressure; gold steadied near $4,000 as expectations cooled. Energy Investment: Morgan Stanley sees a $5.5tn Asia energy supercycle tied to AI and energy security, with up to $9tn across the energy value chain. Business Risk: AIB warns of a surge in fraudulent investment sites, with takedowns exploding in 2026. Regional Growth: Bangladesh courts China on trade and infrastructure; Liberia and Maryland signed a trade-and-investment MoU. Tech & Industry: Malaysia launched a RM185m advanced packaging RDICE programme; HCLTech closed a ₹1,427.25cr minority stake in Sarvam AI. Local Economy: Nigeria’s First Lady backed small grants for low-capital businesses like akara and kulikuli; Maryland expanded its business funding database.

Energy Security: Malaysia says Petronas fuel supplies should stay stable and sufficient until August, with a crisis task force monitoring prices, smuggling risks, and securing crude from outside West Asia. Fraud Crackdown: Police in Kuala Lumpur dismantled FX investment scam syndicates, arresting suspects linked to call-centre setups and warning the public against high-return offers. AI & Cloud Investment: AWS will add $13bn to AI and cloud infrastructure in India, lifting total 2026-30 investment to $48bn, focused on expanding data centres in Mumbai and Hyderabad. Entrepreneurial State Debate (India): A new analysis argues India needs a more “entrepreneurial” government that acts as an investor of first resort, not just a facilitator for private growth. Construction Costs: New data points to rising engineering and construction costs as inflation and Middle East-linked uncertainty push up supplier bid terms and extend lead times. Investor Protection (Sri Lanka): CDS will restrict transactions in dormant stock accounts after three years, with reactivation possible via updated KYC. Trade & Investment: US and Gulf talks reportedly avoided any Iran investment-fund discussion, while Kazakhstan and China push toward $100bn bilateral trade.

Fed Watch: The Federal Reserve’s June forecast points to persistent inflation (Core PCE 3.3%, headline PCE 3.6%) and “higher-for-longer,” with markets pricing a higher chance of a rate hike by September. Trade Deal: The EU cleared a major US trade agreement, capping tariffs on EU exports at 15% and removing most EU tariffs on US industrial goods ahead of a July 4 deadline. Big Tech Investment: Amazon says it will invest tens of billions in India through 2030, targeting AI infrastructure, small-business digitization, and millions of jobs. Corporate Governance: Sri Lanka’s beneficial ownership rules are drawing pushback from business groups, who warn the new reporting duplicates existing eROC data and adds compliance costs. Energy & Industry: Malaysia-Singapore power interconnection Phase 2 reported RM23.06m revenue as it runs at full capacity, while Japan unveiled a plan for 370 trillion yen in AI and semiconductor spending by fiscal 2040. Trade Finance Tech: Trade Technologies and Mitigram announced a partnership to streamline end-to-end trade finance execution and reduce rekeying. Local Business Climate: South Africa’s taxi industry was urged to keep “business as usual” on June 30 amid planned demonstrations.