Eco-friendly vehicles provided the strongest lift to South Korea’s auto exports during the month. Their export value increased 25.5% from a year earlier to US$2.59 billion. Electric and hydrogen vehicle exports rose 31.9% to US$940 million. Hybrid exports advanced 22.2% to US$1.65 billion. By contrast, exports of internal combustion engine vehicles fell 3.1% to US$3.65 billion. Eco-friendly models accounted for about 41.5% of the country’s total automobile export value in July.
Fresh vegetable prices have surged in South Korea as prolonged extreme heat reduced shipments and damaged farm output nationwide. Korea Agro-Fisheries & Food Trade Corp. data showed spinach at 1,978 won per 100 grams on Aug. 7, up 152.3% from a month earlier. Ten cucumbers cost 8,313 won, an increase of 54.8%. Blue lettuce rose 41.7%, while a zucchini climbed 46.6% to 1,504 won.
Editor’s Pick
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.
DR Congo’s Ebola outbreak has killed 1,916 people and produced 4,209 confirmed cases, according to official data through Aug. 7. That raises the death toll 29 above the 1,887 figure reported in the earlier update. Health authorities also counted 595 patients receiving care in isolation. Another 828 people have recovered from the Bundibugyo virus disease outbreak.
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.
Business
Eco-friendly vehicles provided the strongest lift to South Korea’s auto exports during the month. Their export value increased 25.5% from a year earlier to US$2.59 billion. Electric and hydrogen vehicle exports rose 31.9% to US$940 million. Hybrid exports advanced 22.2% to US$1.65 billion. By contrast, exports of internal combustion engine vehicles fell 3.1% to US$3.65 billion. Eco-friendly models accounted for about 41.5% of the country’s total automobile export value in July.
Diesel prices remained elevated on Wednesday as tighter refined-product supplies kept pressure on fuel markets in the United States and Europe. U.S. ultra-low sulfur diesel futures jumped 7.4% on Monday to settle at $4.19 a gallon. That marked the contract’s biggest daily gain since July 13. Early Wednesday trading put the contract near $4.28 a gallon, while European diesel refining margins remained at historically high levels after rising nearly 10% on Monday.
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.
Travel
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.
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…
The route will give Gothenburg its first direct air connection with the United Arab Emirates. It will also create the city’s first nonstop link to the Middle East and Asia. Passengers from western Sweden can connect through Abu Dhabi to destinations across India and Asia. The new service also provides direct access to Abu Dhabi for travelers departing from the Gothenburg region. Göteborg Landvetter Airport serves Gothenburg and the wider western Sweden market.
Technology
Japan successfully launched its H3 rocket carrying the Michibiki No. 7 navigation satellite on Tuesday. H3 Flight No. 9 lifted off at 4:23:31 a.m. Japan time from the Tanegashima Space Center. The Japan Aerospace Exploration Agency, or JAXA, confirmed satellite separation about 29 minutes and four seconds after liftoff. The agency said the rocket followed its planned flight path and placed QZS-7 into its predetermined orbit.
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…
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…