AGP Executive Report

Media M&A: Paramount reached a settlement with US state attorneys general, clearing the path for its $110bn Warner Bros. Discovery merger under conditions including higher US film production, worker support, and protections for cable competition and editorial independence. Healthcare Governance: North Carolina Governor Stein backed the Wake County vote approving the WakeMed–Atrium merger, highlighting a five-year cap on price increases and pushing for stronger AG oversight of hospital deals. Trade & Diplomacy: China’s foreign minister urged Germany and the EU to avoid trade wars and lean on dialogue as US-China talks continue in New York, with AI and economic stability on the agenda. Energy & Sanctions Risk: A new US sanctions law raises the stakes for India’s Russian oil imports, with potential tariffs up to 100% for major buyers of Russian crude and gas. Business & Markets: Canada’s CIRO issued trading halts for Silver Tiger Metals (SLVR) and Barksdale Resources (BRO) pending news. Local Economy: Kentucky lawmakers heard testimony on a housing shortage that could limit economic development, while a Texas Ponzi operator was sentenced to 11 years for defrauding investors. Global Investment/Dealmaking: Qatar’s PM met Alphabet/Google CIO Ruth Porat and other business leaders at the UN General Assembly, signaling continued focus on investment partnerships.

US–China Trade Talks: US Treasury and trade officials met China’s Vice Premier in New York ahead of Xi’s Washington visit, focusing on trade issues and AI risk-sharing, with the tariff truce due to expire Nov. 10. Central Banks & Inflation: Markets are bracing for higher rates as persistent inflation keeps pressure on policymakers, with investors watching how far central banks will go. India Inflation Risk: Kotak warns crude above $100 could lift India’s retail inflation toward 6% and push the RBI toward rate hikes. Qatar Energy & LNG: QatarEnergy says Hormuz disruption could delay parts of its North Field LNG expansion, even as it works to recover capacity after attacks. ASEAN Trade: ASEAN members agreed to provisionally apply an updated regional trade deal to speed intra-regional goods flows and help SMEs. Business Regulation: Switzerland’s business lobby groups urged lawmakers to avoid “excessive” capital rules for UBS, warning of higher financing costs. Corporate & Legal: Paramount and Warner Bros merger talks face renewed opposition as states debate a potential settlement; in the Philippines, SEC testimony in Sara Duterte’s impeachment centers on whether she divested from firms. SME Payments: Verto and Visa launched a multi-currency business card aimed at reducing FX costs and failed international payments for African firms. Tech for Operations: LittleHorse rolled out Saddle Command Center 1.3 to help companies orchestrate AI agents via “Business-as-Code.” Local Business Climate: Spain’s small firms are increasing security spending as burglaries rise, while London’s proposed tourism tax is criticized as a hit to hospitality and jobs.

ASEAN Trade Upgrade: ASEAN members agreed to provisionally apply an updated protocol to the Atiga goods trade deal, aiming to speed intra-regional shipments and help micro, small and medium firms amid Middle East-driven disruption. Philippines Politics & Business: House prosecutors in Sara Duterte’s impeachment trial are set to scrutinize her declared business interests and related government transactions using corporate and procurement records. Qatar Investment Push: Qatar launched “Doha Investment,” a new Qatar Investment Authority division to manage domestic stakes and back national champions in non-hydrocarbon sectors, while PM framed the move as resilience-building after regional shocks. Canada–China Trade Shift: Canadian exports to China jumped 30% in H1 2026, led by energy and minerals, as Ottawa’s US trade tensions intensify. US–China Talks: New rounds of US-China trade talks in New York focus on keeping tariff truce momentum and expanding commercial certainty for businesses. Inflation Watch (Mongolia): Mongolia’s inflation rose to 12.5% in August, driven by fuel and education costs even as food prices eased. Energy Transition Finance: Barclays’ sustainable finance chief says the next phase of clean power investment is moving from adding generation to fixing grid systems. Small Business & Consumer Pressure: Dollar General says even higher-income shoppers are behaving like discount customers as gas prices and inflation reshape spending.

US–China Trade Talks: Treasury’s Bessent and China’s He Lifeng meet at JPMorgan in New York to discuss AI safeguards, a fading trade truce, and critical-mineral deliveries ahead of the Trump–Xi summit. US–Canada Tariffs & Inflation: A Fed rate hike lands as economists warn the “higher-rate world” is here, while Iowa Sen. John Kennedy blames the Iran war for oil-driven inflation. ASEAN Trade Push: ASEAN members agree to provisionally apply an upgraded Atiga protocol to deepen regional trade despite Middle East disruption. Hong Kong Investment Guarantees: Hong Kong firms gain expanded non-discriminatory treatment and investment protections across 10 ASEAN states. China–ASEAN Logistics Boost: China opens the Pinglu river-to-sea canal, aiming to cut logistics costs and strengthen trade corridors. M&A Watch (US): California AG Rob Bonta faces pressure over the Paramount–Warner Bros. Discovery merger as antitrust concerns keep the deal tied up. Banking Integration: Bank al Etihad completes its merger with Invest Bank, fully integrating customers and operations. Energy & Cost Pressure (Africa): Kerala fishing unions warn kerosene shortages are squeezing livelihoods as fuel prices and quota cuts bite. Regional Investment Drive: Zimbabwe targets at least 10 investment commitments at a global summit in Victoria Falls.

Regulatory & Ethics: U.S. lawmakers are still wrestling with crypto ethics after the CLARITY Act failed to advance, with debate focused on where officials’ crypto holdings end and family interests begin. M&A & Antitrust: Sen. Elizabeth Warren warned against a potential settlement that could clear the Paramount-Warner Bros. deal, calling it a “massive mistake” and a threat to competition. Inflation & Rates: The Fed lifted its benchmark rate again as mortgage rates neared 7%, keeping affordability pressure front and center for households and investors. Trade & Investment: Canada is optimistic about finishing a CEPA with India by year-end, with energy and nuclear supply chains high on the agenda. Asia Growth Outlook: The IMF/World Bank Annual Meetings in Bangkok will spotlight a tougher growth path for Asia amid lingering Strait of Hormuz risks and higher oil prices. Semiconductors: Bank of America says “long semis” remains the most crowded trade for a fourth straight month, though conviction has cooled since summer highs. Local Business & Jobs: Karnataka’s semiconductor push at SEMICON India points to Rs 15,000 crore in investment and 2,000+ jobs, while Pakistan’s ICCI backs an Islamabad master plan to attract tech and high-value services.

Corporate Governance: Philippines House prosecutors say VP Sara Duterte kept business interests after taking office, starting to present SALN records in her impeachment case. Trade Talks: Canada’s trade minister says a CEPA with India is on track for a year-end deal, with energy and nuclear cooperation in focus. Sanctions & Compliance: Raiffeisen shares slid after a report accused the bank of facilitating Russian sanctioned goods; the bank denies wrongdoing. Energy & Infrastructure: Cuba’s national grid suffered a total blackout amid fuel shortages and aging plants. Global Shipping Risk: Instability around the Strait of Hormuz and Bab Al-Mandeb is squeezing key trade routes, pushing down oil flows and raising freight uncertainty. Industrial Restructuring: Tata Steel is seeking fresh UK government funding as Port Talbot transformation faces delays. Investment & Credit: Moody’s lifted Greece’s outlook to positive, citing stronger resilience from reforms; S&P upgraded Cyprus to A. Markets & Rates: Japan’s central bank raised rates again on inflation risks, while gold futures in Malaysia are seen with an upward bias. Business Finance: Amex launched a high-yield business savings account for US small firms. Fraud Watch: Turkey detained nine Israelis tied to an alleged $266m international investment scam. Regional Growth: Malaysia-Thailand ties get a boost via Rasa Malaysia 2026, while Sarawak backs a Sibu Economic Zone with RM1.5bn.

Trade & Tariffs: Toronto Mayor Olivia Chow met business leaders to map next steps as Canada-U.S. tariffs disrupt planning, with manufacturers warning of sudden market shocks. Monetary Policy: The Bank of England held rates at 3.75% as energy-price and inflation risks persist, even as wage growth stays muted. Inflation Coordination: Nigeria’s finance ministry and central bank signed a pact to coordinate inflation, debt, liquidity and FX management while Nigeria moves toward inflation targeting. Regional Business Support: B.C. Premier David Eby paused a sales tax expansion and unveiled a $90M business aid package tied to the U.S. trade war, including manufacturing and tech support. Energy & Geopolitics: Ireland’s finance minister blamed Middle East Strait of Hormuz disruptions for the fuel crisis, arguing de-escalation is the key economic lever. Investment & Markets: BlackRock’s China unit won QDII approval to invest overseas; Canada’s CIRO issued trading halts and resumptions for small-cap names. Corporate/Legal: Illinois AG Raoul secured a four-year prison sentence for a former transportation owner over fraudulent Medicaid claims. Tech & Industry: Malaysia launched a NEW TDM Project to push digital transformation in tooling and die/mould engineering.

Japan Monetary Tightening: The Bank of Japan lifted rates 25 bps to 1.25%, the highest in 30+ years, as inflation risks linger and the yen remains a focus. Inflation Watch: Malaysia’s inflation rose to 1.9% in August, with transport driving the uptick, while MBSB flagged upside risks from energy, supply chains and geopolitics. Corporate Restructuring: Malaysia’s Capital A moved to optimize its capital structure via a court-supervised plan that could divest BigPay and distribute its Tune Protect stake to creditors. AI for Business Reliability: Beacon Software acquired Haize Labs to strengthen AI reliability testing, while Mavenir launched NetAIShield to curb telecom fraud using AI-native protections. Geopolitics and Trade: Zelenskiy launched the “Carpathian Eight” grouping to boost trade and security, with about €1bn in expected agreements. Russia Business Pressure: Nestlé said it is assessing options after Russia placed its local business under temporary administration. Energy Cost Squeeze: Nigeria’s fuel price jump is reigniting inflation fears and raising pressure on households ahead of elections. Tourism Investment: Bahrain will host the International Tourism Investment Forum in January 2027, aiming to attract financing and partnerships. Regional Trade: Cambodia’s trade with ASEAN and the EU rose 16.8% in the first eight months of 2026.

Monetary Policy & Inflation: The U.S. Federal Reserve raised rates to 4.00% from 3.75% as inflation pressures persist, with economists pointing to Iran-linked energy costs and policy choices ahead. Central Banks: The Bank of England held rates at 3.75% but warned borrowing costs may need to rise if the Iran war keeps pushing inflation above 4%. Geopolitics & Trade: A UN official said the U.S.-Iran conflict has wiped about $150B off Arab economies in a month, while Iran’s “Operation Economic Outcast” rerouting is snarling logistics and raising costs. Business Impact of Tariffs: A Minnesota clothing maker faces a $90,000 tariff bill with only 12 weeks to pay, highlighting how trade policy can hit small firms fast. Energy Investment: Argentina’s TGN approved a roughly $2.2B gas pipeline project to move more Vaca Muerta output, aiming to cut fuel imports and expand exports. Market & Regulation: Canada’s CIRO halted and then resumed trading in Kirkland Lake Discoveries (KLDC) pending news. Corporate & Legal: Shareholder suits were filed against AppLovin and Doximity over alleged AI-related claims and disclosures. Local Economy & Infrastructure: Oxfordshire approved £245.5M for transport upgrades including EV infrastructure, while South Carolina’s U.S. 17 corridor project begins with businesses worried about construction disruption.

Eurozone Inflation: Eurostat put August eurozone inflation at 3.2%, up from July, with energy still the main driver—keeping pressure on central banks and borrowing costs. Bank of England: The BoE held the base rate at 3.75% despite the inflation climb, signaling more patience as higher energy feeds through. Trade & Industry: Germany’s Klingbeil urged tougher EU rules and tariffs to counter “unfair trade” from Chinese carmakers, as automakers face job and competitiveness stress. AI & Semiconductors: NTT Docomo launched “GPU as a Service” in Japan, while Arteris pushed multi-die networking for chiplet AI/HPC designs—both pointing to faster, cheaper compute scaling. Data Centers & Power: Moody’s warned Malaysia’s data-center boom will force big power investment over the next decade, raising near-term leverage risks. M&A & Corporate Moves: Cohere and Aleph Alpha signed a definitive merger deal to build a sovereign AI group under Cohere. Compliance Tech: Eleven rolled out Global Screening Hub to automate KYC/AML and risk policy checks across jurisdictions. Scams & Consumer Risk: Malaysia police flagged a crypto “tax to unlock withdrawals” scam that cost a senior RM218k.

Central Banks & Inflation: The US Fed lifted its benchmark rate by 25 bps to 3.75%–4% for the first hike since 2023, citing persistent inflation and signaling more tightening if needed. Energy & Cost Pressures: Ireland’s gas-reliant power system faces fresh electricity and gas price hikes as suppliers warn of higher gas costs, while Syria’s sudden fuel price jump sparked protests and a booming diesel black market. Trade & Regional Growth: China opened the Pinglu Canal, cutting inland shipping distances and logistics costs to boost western trade links with Southeast Asia. Business Investment: Abu Dhabi-backed McLaren plans a £500m UK expansion, including a new SUV push and engine work in-house, aiming for 1,000 jobs by 2032. Markets & Economy: New Zealand GDP grew 0.2% in Q2, with construction a key driver as Middle East shocks weigh. Competition & Industry: The EU Commission flagged potential competition concerns in MMG’s bid for Anglo American’s low-carbon nickel business, warning of higher stainless steel costs in Europe. Food & Agriculture: Ireland’s beef exports to the UK are sliding as relaxed country-of-origin rules let UK food service firms buy cheaper alternatives.

EU-Canada Trade Reset: European Commission President Ursula von der Leyen proposed giving Canada “associate member” status to deepen cooperation as the EU-US trade spat drags on, moving beyond CETA toward an “Alliance for the Future.” US-Canada Tariff Pain: The US-Canada trade war is hitting small businesses disproportionately, with owners reporting sales disruptions and knock-on costs from higher energy prices. UK Inflation & Rates: UK CPI rose to 3.1% in August, driven by fuel and transport costs, keeping pressure on the Bank of England to raise rates. Japan Monetary Watch: The Bank of Japan is set to lift rates again to fight energy-driven inflation and support the yen ahead of the US Fed decision. Energy Costs in Asia: Malaysia is reviewing electricity-bill impacts after rate increases, while businesses in the Philippines’ Visayas warn outages and higher power tariffs are threatening jobs and investment. Trade & Infrastructure Boost: China opened the Pinglu Canal to cut transport times and costs, aiming to strengthen links with Southeast Asia. M&A Under Scrutiny: Dominion-NextEra’s merger faces calls to slow after updated commitments, while European Lithium’s merger with Critical Metals moves forward with a registered scheme booklet. AI in Business Ops: Meta is letting AI coding agents handle parts of WhatsApp Business setup and testing, signaling more automation in customer messaging infrastructure. Local Business Relief: Wales approved a 30% business rates cut for hospitality and leisure firms from 2027.

Inflation Watch: Bulgaria’s annual inflation hit 5.1% in August, while Nigeria’s eased to 15.39% (still “as good as not dropping”), and oil-price pressure is keeping inflation and rate worries front and center. War & Costs: A CBO report says Trump’s Iran war has cost the U.S. DoD nearly $40B and drove over 40% of 2026 Q2 inflation, with higher borrowing costs likely. Energy & Power Crunch: Diesel prices in North Texas hit a record $6.23–$6.27/gal; in the U.S., a study warns the PJM grid could face far worse reliability by 2030 as data-center load grows. Investment Push (Canada): Mark Carney’s summit pitch includes tax breaks for capital investment and plans to open Canada’s four biggest airports to private operators. Trade & Supply Chains: Japan logged a fourth straight monthly trade deficit in August; China and ASEAN are accelerating ties under CAFTA 3.0. M&A/Antitrust: Paramount and California AG Rob Bonta set Oct. 14–15 settlement talks over the $110B merger challenge. Africa Business: Dangote Refinery’s IPO sparked a retail investor rush in Nigeria; Mississippi announced a $528M Hitachi Energy investment. Regulation/Tech: Databricks and authors spar in court over whether using books to train AI is fair use. Fraud & Small Business: A Minnesota small-business recovery fund ended after nearly half of applications were fake.

Trade Policy Shock: The WTO warned that weakening trade rules could cut global GDP by up to 10%, as disruption hits the system hardest in decades. US-Canada Escalation: Tariffs and counter-tariffs are intensifying, with farmers and businesses bracing for tariff pain. EU-Canada Pivot: Canada’s PM Mark Carney urged remaining EU states to ratify the Canada-EU trade deal, pushing Europe as Ottawa’s next growth path. Local Trade Facilitation: India and Mercosur signed a protocol to enable electronic Certificates of Origin, aiming for faster, paperless customs. Regional Deals & Finance: Cyprus and Greece are lining up new business partnerships; Japan and Malaysia expanded currency swap access and agreed to promote local-currency trade. Corporate Investment Moves: HFCL approved ₹820 crore extra capex (total ₹1,800 crore); Uno Minda plans ₹1,415 crore across multiple divisions; Skyways Air Services won IAG Cargo’s “Valued Business Partner” recognition. Inflation & Rates Watch: Markets are reacting to inflation pressure and rising bond yields, while central banks weigh rate decisions.

NBA Business & Compliance: The Clippers and Raptors agreed to complete the Kawhi Leonard trade after the league’s salary-cap circumvention punishments, with Leonard waiving a $7.45m kicker to keep Toronto under the cap. Corporate Governance & Fraud: Colorado’s secretary of state flagged and removed thousands of fraudulent business filings, using a new law to target bogus registered-agent setups. Inflation & Cost Pressure: Retail inflation in the U.S. stayed elevated for everyday goods even as monthly declines continued, while diesel and fuel price shocks kept budgets tight in multiple markets. Middle East Business Climate: Qatar pushed trade and investment ties (including Malta) and launched a “Companies House” platform to streamline registration in economic zones, alongside an ESG conference push. Energy Investment: TotalEnergies plans to raise Iraq investment toward $16bn as the country targets more gas and higher oil output. Trade & Policy: China-U.S. tariff talks aim at reciprocal reductions to reduce uncertainty and support long-term planning. Local Economy: Pakistan’s business groups criticized the central bank for holding rates at 11.5%, arguing it’s choking growth. Digital Infrastructure: Nigeria’s data-centre push gained momentum as regulators urged clearer policy and investment certainty.

Inflation Watch (India): India’s retail inflation quickened to 4.82% in August, driven mainly by food and fuel, while wholesale inflation jumped to 9.92%, keeping pressure on household budgets. Energy & Cost Pressure (Europe/Greece): Greece warns of a new energy crunch as oil stays above $100 and gas prices surge, threatening operating costs and inflation. Trade Tensions (U.S.-Canada): The U.S.-Canada trade fight is hitting sectors like Kentucky bourbon as retaliatory tariffs keep expanding, while unions urge leaders to restart talks. Investment Push (Canada): TD pledged $150 billion over five years to accelerate Canada’s investment “supercycle,” spanning energy, critical minerals, defence, digital and infrastructure. BRICS & MSMEs: BRICS backed affordable finance and trade-credit access for MSMEs to help them plug into global value chains, including work on invoice discounting. Malaysia Digital Infrastructure: Malaysia’s data-centre push gathered momentum with 40+ applications and a push to build local engineering, cybersecurity and logistics capabilities around the sector. Market & Corporate Moves: eToro reported August metrics showing higher funded accounts but lower per-trade investment; Galaxy named a new head of investor relations; and CIRO halted trading in Sailfish Royalty pending news.