Triodos Bank assessed four main channels: labour productivity, agriculture, energy production, and transport and logistics. It estimated lower labour productivity could reduce EU GDP by about 0.6%, making it the largest single factor. The bank also expects EU agricultural output to fall 3% to 7% because of heat and drought. Reduced power generation, higher electricity prices and transport disruptions add to the estimated economic damage across Europe.
China announced new countermeasures against the United States on Wednesday, including tighter controls on drone-related exports. It also restricted dealings with seven American entities. The measures took effect on August 5 after recent U.S. technology and import restrictions. China’s Ministry of Commerce said controlled drones, key components and related technologies will face stricter U.S.-bound export reviews. The rules apply to items already covered by China’s dual-use export control system. They do not create a blanket ban on all Chinese drone shipments to the American market.
Editor’s Pick
A magnitude 4.9 earthquake hits southwestern China on Friday, striking Gao County in Yibin City within Sichuan province. According to official measurements published by the China Earthquake Networks Center, the seismic event occurred at 1:08 p.m. local time at a shallow focal depth of six kilometers. State broadcaster CCTV confirmed that one person was killed after being struck by a collapsing exterior wall while attempting to seek safety during the tremors.
Under the terms of the revised agreement, the main satellite constellation will grow from 282 planned orbital units to 348 active spacecraft. The expanded network architecture integrates 330 satellites positioned in higher low Earth orbit alongside 18 spacecraft deployed in medium Earth orbit, with optional orbital elements reserved for specialized mission support. The implementation agreement confirms the definitive timeline for satellite manufacturing, launch procurement, secure ground segment construction, and operational connectivity service delivery. The primary constellation schedule establishes initial satellite launches for 2029, enabling early sovereign connectivity capabilities for participating member states shortly thereafter.
Obesity was linked to 9,509 deaths in Belgium during 2022, representing 8.2 percent of total national mortality, according to new data from the Belgian public health institute Sciensano. Marking the first time public health researchers in the country have systematically quantified mortality directly attributable to an elevated body mass index (BMI), the report reveals that weight-related complications caused more than one death per hour nationwide.
Business
Triodos Bank assessed four main channels: labour productivity, agriculture, energy production, and transport and logistics. It estimated lower labour productivity could reduce EU GDP by about 0.6%, making it the largest single factor. The bank also expects EU agricultural output to fall 3% to 7% because of heat and drought. Reduced power generation, higher electricity prices and transport disruptions add to the estimated economic damage across Europe.
The July consumer price index reached 102.92, with 2025 set as the index base of 100. Holiday home rentals and package holidays accounted for 1.24 percentage points of the monthly increase. Food added 0.15 percentage point. Lower clothing, hotel accommodation and footwear prices reduced the monthly rise by a combined 0.34 percentage point. Rent provided the largest positive contribution to annual inflation, adding 0.55 percentage point. Holiday home rentals added 0.51 point, while fuel added 0.39 point. Electricity prices cut 0.68 point from the annual rate. Food prices reduced it by 0.26 point, and package holidays subtracted 0.06 point. The combined movements left headline inflation below June’s 1.9% reading.
Gold advanced for a third consecutive session on Tuesday as bullion extended its rebound from last week. Spot gold gained 1% to $4,432.74 an ounce by 0217 GMT, reaching its highest level since June 5. U.S. gold futures climbed 1.7% to $4,492.60. The move pushed prices above the seven-week peak recorded last week and continued a recovery that accelerated after weaker U.S. employment data.
Travel
South Korea recorded a $596.6 million tourism surplus in June 2026, its strongest monthly result since the COVID-19 pandemic. The figure marked a $1.44 billion improvement from June 2025, when the balance showed an $846.8 million deficit. Korea Tourism Organization data show June produced the second-highest monthly tourism surplus on record. Only October 2008 was higher, with a surplus of $661.5 million.
Seoul, South Korea / RankWire.AI / – Government data released on Sunday showed that South Korea’s travel account posts surplus for…
DUBAI, UAE / RankWire.AI / July 16, 2026: flydubai will expand its Dubai to Bangkok operations to two flights a day…
Spain has begun temporary border checks on travelers arriving from Italy by air and sea. The controls took effect at midnight on Aug. 8 and are scheduled to remain through Sept. 7. Spain introduced the measure after Italy imposed its own temporary controls on arrivals from Spain. The action adds document checks to routes that normally operate under the European Union’s Schengen system of internal travel.
Technology
The valuation shift reflects broader recalibrations across international financial markets as institutional managers re-evaluate capital commitments tied to artificial intelligence infrastructure. While competing hyperscale computing enterprises including Alphabet and Tesla accelerated capital investments toward data centers, robotics, and autonomous transport networks, Apple maintained disciplined expenditure controls over consecutive fiscal quarters. Market participants increasingly view Apple’s disciplined spending approach as a operational buffer, allowing the firm to expand its proprietary Apple Intelligence software ecosystem without incurring high infrastructure depreciation costs. Trading patterns across major equity benchmarks highlighted diverging sentiment between hardware component suppliers and consumer technology platforms. Nvidia shares experienced increased selling pressure alongside wider pullbacks across semiconductor equities, as investors scrutinized the timeline for financial returns on massive artificial intelligence data center investments. The Philadelphia Semiconductor Index recorded notable weekly declines as market participants reassessed elevated valuation multiples across pure-play chipmakers. Despite persistent demand for graphics processing units, concerns surrounding energy supply constraints, macroeconomic interest rate trajectories, and capital expenditure intensity weighed on semiconductor equity prices.
SHANGHAI, CHINA / RankWire.AI / – United Nations Secretary-General António Guterres called for wider global…
CANBERRA, AUSTRALIA / RankWire.AI / – Australian creators are pressing for a direct role in…
SEOUL, SOUTH KOREA / RankWire.AI / – Samsung Electronics plans to start operations at its…
SHANGHAI / RankWire.AI / – Chinese researchers have unveiled an AI-assisted platform that converts computer-designed…
Luxury
Rolex introduces the latest addition to its esteemed collection with the unveiling of the new Oyster Perpetual Rolex Deepsea model. Breaking tradition, this iteration marks…
The Rolex Oyster Perpetual Day-Date, a beacon of horological prestige, marries the elegance of 18 ct gold or 950 platinum with groundbreaking innovation. Since its launch…
The 53rd edition of the Watch & Jewellery Middle East Show, unveiled its treasures on January 31st in Sharjah. This prestigious event, a collaboration between Expo…