TRENDING NEWS
Egypt’s net international reserves stood at a record $57.2145 billion by the end of August 2026, marking the first time surpassing the $57 billion mark in official reserve holdings. The monthly rise was approximately $920.6 million, or 1.6%, continuing an upward trend observed throughout 2026. Remittance inflows have contributed significantly to the growth in foreign currency reserves, with remittances reaching an all-time high of approximately $47.3 billion during the 2025/2026 fiscal year. Egypt’s reserve figures have set successive record highs throughout the year, with the August total exceeding December 2025’s by more than 10%.
A 5.1-magnitude quake shook Longchang City in China’s Sichuan Province on Friday, according to data released by the China Earthquake Networks Center. The tremor took place at 1:13 p.m. Beijing local time, with a depth of 13 kilometers, and its epicenter situated in Neijiang prefecture at 29.23 degrees north latitude and 105.22 degrees east longitude. Emergency agencies promptly launched initial field evaluations across the county territory, with early assessments indicating no immediate reports of casualties or structural damage.
A five-year wheat supply arrangement valued at up to US$500 million has been officially implemented between the UAE and Egypt. Al Dahra Agriculture Trading will deliver imported wheat to Egypt’s General Authority for Supply Commodities as part of this deal. Funding for these purchases is provided through the Abu Dhabi Exports Office. The agreement formalizes a framework established in 2023, establishing the terms for wheat transactions between Al Dahra and GASC over the next five years.
Chinese President Xi Jinping touched down in Cairo for an official state visit, coinciding with the 70th anniversary of diplomatic relations between Egypt and China. Egyptian President Abdel Fattah El-Sisi greeted Xi at Cairo International Airport on Tuesday. The ceremony was also attended by First Lady Entissar El-Sisi and Peng Liyuan, Xi’s wife. This marks Xi’s first visit to Egypt in ten years, emphasizing high-level discussions focused on strengthening political, economic, and developmental links in Cairo.
India-Russia cooperation stays in focus across trade, energy, defence and diplomacy. The leaders evaluated progress in the Special and Privileged Strategic Partnership that links India and Russia, with their governments working together across sectors such as defense, civil nuclear energy, space, trade, and technology. Bilateral economic relations have grown notably in recent years, driven by energy trade and other commercial exchanges. Both nations actively utilize established mechanisms to address issues related to investment, payments, transportation, and market access. During their Kyrgyzstan meeting, Modi and Putin deliberated on these areas while assessing the overall state of their relationship. Results from the 27th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation were warmly received by the leaders. This commission convened in Moscow on August 24. The two countries aim to achieve $100 billion in annual bilateral trade by 2030. According to Indian government data, bilateral trade reached $59.86 billion during the 2025-26 fiscal year, with Russian exports to India accounting for a larger portion—highlighting the importance of energy and other commodities in their economic partnership.
During the initial six months of 2026, China’s digital industry generated a total revenue of 20.71 trillion yuan, reflecting a 13.6% increase compared to the same period last year. Profits rose significantly by 19.3%, reaching 1.79 trillion yuan. According to the Ministry of Industry and Information Technology, the industry’s profit margin stood at 8.6%, which is 0.7 percentage points higher than the previous year. These figures encompass key segments of China’s rapidly expanding digital economy.
India and Uzbekistan ties enter a broader phase spanning trade, technology, and security. Trade and economic relations played a central role in their discussions. Uzbekistan reported bilateral trade reaching $1.3 billion in 2025, reflecting a 33% year-over-year growth. Both nations have set an objective to increase trade to $5 billion by 2030. The number of joint ventures has increased sevenfold over recent years. Currently, there are 14 direct flights per week between the two countries, and four Indian universities are operating in Uzbekistan. Officials agreed to establish a foreign ministers-level mechanism to oversee bilateral commitments. Additionally, a dedicated joint working group will address non-tariff barriers and investment issues. Both countries will revisit further steps after completing a feasibility study for a Preferential Trade Agreement. Focus industries include energy, metallurgy, electrical engineering, critical minerals, and agriculture, with healthcare, pharmaceuticals, automobiles, electronics, mechanical engineering, and jewelry also on the economic agenda. Agreements Significantly Expand Cooperation Across Several Sectors During the visit, India and Uzbekistan signed 11 agreements, memoranda, and related arrangements. These cover areas such as cultural exchanges, higher education, scientific research, environmental protection, and traditional medicine. The agreement also involves tourism, geology, mineral resources, archival cooperation, and economic dialogue. Gujarat state and Uzbekistan’s Samarkand region committed to deepening regional ties. Another accord pertains to diplomatic training, while separate initiatives support archaeological conservation
Indonesia links sports industry investment with risk-based licensing and OSS services. The collaboration involves the Ministry of Investment and Downstreaming and the Ministry of Youth and Sports, who will work together on licensing, investment promotion, and business services. Their joint efforts also address regulatory compliance, data sharing, and monitoring. Indonesia’s online business permit system, OSS (Online Single Submission), underpins this risk-based licensing approach, now extending to investments in the sports sector through this memorandum. The agreement does not specify US$521 billion as a target size for Indonesia’s domestic sports industry. Thohir highlighted the global sports industry’s worth, citing a valuation of about US$521 billion, roughly translating to 8,000 trillion rupiah, with an annual growth rate of approximately 8%. He also mentioned that the worldwide sports tourism market is valued at nearly US$600 billion. The Indonesian government links sports activities with events, tourism, and other commercial services, and the August agreement provides a formal basis for the two ministries to coordinate investment activities associated with these sectors. It also clarifies areas for sharing licensing information and responsibilities between agencies. Indonesia ties sports sector expansion to licensing reform The regulatory foundation for this cooperation is partly built on Government Regulation No. 28 of 2025, which governs risk-based licensing and replaced a regulation from 2021. The regulation stipulates service deadlines for authorities managing applications through OSS and introduces a positive fictitious approval mechanism for eligible permits. Under this system, if the
Egypt’s central bank kept its key interest rates steady on August 20, marking the fourth consecutive policy meeting without changes to borrowing costs. The overnight deposit rate held at 19%, and the overnight lending rate stayed at 20%. Both the main operation rate and discount rate remained at 19.5%. These levels have been maintained since the central bank’s rate cut in February. CBE policy rates remain unchanged as Egypt reports 14.9% annual urban inflation.
Business
Egypt’s net international reserves stood at a record $57.2145 billion by the end of August 2026, marking the first time surpassing the $57 billion mark in official reserve holdings. The monthly rise was approximately $920.6 million, or 1.6%, continuing an upward trend observed throughout 2026. Remittance inflows have contributed significantly to the growth in foreign currency reserves, with remittances reaching an all-time high of approximately $47.3 billion during the 2025/2026 fiscal year. Egypt’s reserve figures have set successive record highs throughout the year, with the August total exceeding December 2025’s by more than 10%.
News
The Malaysian federal government has proclaimed a state of emergency in Sarawak’s Serian district following a sharp decline in air quality caused by dense transboundary haze from land and forest fires in neighboring Indonesia. Environmental monitoring stations recorded the local Air Pollutant Index reaching 519, significantly exceeding the national critical threshold of 500 required for an emergency declaration. Malaysia declares emergency in Sarawak over air pollution as public health authorities order the immediate closure of 647 primary and secondary schools across the affected region starting Monday.
The UAE Search and Rescue Team has initiated on-the-ground operations in Nepal’s Rasuwa district following devastating floods that affected the region. The team is assisting Nepali authorities by conducting searches in damaged communities and challenging terrains. Their efforts are supported by drones, aerial imaging, and three-dimensional mapping technologies that provide detailed views of the disaster zones. These tools help locate areas where floodwaters have damaged infrastructure such as roads and buildings.
The United Nations has launched a $49.6 million emergency appeal to support a four-month response to Nepal’s August floods. This urgent appeal aims to assist 84,270 people, with nearly 40% being children. It encompasses 19,284 households spread across 17 municipalities within six districts, namely Rasuwa, Nuwakot, Dhading, Chitwan, Gorkha, and Tanahu. Relief efforts focus on providing shelter, food, healthcare, clean water, sanitation, protection, and winter aid. The floods, which struck on Aug. 26, caused widespread destruction along major river corridors, devastating numerous communities.
On Friday, the United Nations General Assembly passed a resolution calling for more precise and equitable visual representations of continental landmasses on world maps. In a vote recorded with support from 107 member states, the assembly focused on cartographic inaccuracies that tend to understate the size of Africa and other equatorial regions of the Global South. UN adopts resolution to correct world map representation as diplomatic delegations take formal action to resolve historical biases embedded within traditional cartographic standards.
The Malaysian federal government has proclaimed a state of emergency in Sarawak’s Serian district following a sharp decline in air quality caused by dense transboundary haze from land and forest fires in neighboring Indonesia. Environmental monitoring stations recorded the local Air Pollutant Index reaching 519, significantly exceeding the national critical threshold of 500 required for an emergency declaration. Malaysia declares emergency in Sarawak over air pollution as public health authorities order the immediate closure of 647 primary and secondary schools across the affected region starting Monday.
Health
Technology
Each year, Japan’s Consumer Affairs Agency processes approximately 900,000 consumer consultation records through its PIO-NET database. On September 1, the agency revealed plans to expand its anti-fraud efforts by deploying artificial intelligence to identify early warning signs in complaints. The new system will scrutinize language used in reports, patterns of solicitation, and similarities with previous cases. Its goal is to detect signs of malicious schemes and problematic enterprises sooner by leveraging existing consumer data collected nationwide.
Travel
On Friday, the budget airline Air Arabia revealed a strategic boost to its Southeast Asian routes, notably increasing the number of flights connecting the United Arab Emirates with Thailand. From October 25, 2026, the airline will add a fourth daily non-stop flight linking Sharjah International Airport to Suvarnabhumi Airport in Bangkok. This move raises the airline’s weekly non-stop departures on the Sharjah-Bangkok route to 28, providing more scheduling options for both leisure and business travelers. With four daily flights from Sharjah, Air Arabia is increasing its Bangkok service to meet rising demand across regional commercial corridors.
Exterior view of the Guggenheim Abu Dhabi entrance plaza on Saadiyat Island. (Credit – WAM) The museum’s architecture features 30 indoor galleries with 11,600 square metres dedicated to exhibitions, complemented by 23,000 square metres of outdoor display zones. A central atrium connects these spaces, with the skyline defined by ten sculptural cones—nine clad in stainless steel mesh and one finished in onyx and glass. These cones, reaching up to 88 metres high, serve functional purposes beyond their visual appeal, capturing breezes and providing shade through passive cooling methods suited for the desert environment. The complex also includes a dedicated art and technology centre, specialized educational facilities for children, archives, a research library, and a state-of-the-art conservation lab.
Nearly 2 million international visitors arrived in Republic of Korea in June alone, propelling the total number of foreign travelers entering the country in the first six months past a significant threshold. Data released by Emirates News Agency confirmed that Korea’s foreign tourist arrivals exceeded 10 million in H1, driven by consistent double-digit growth from key regional source markets. Statistics from the Ministry of Culture, Sports and Tourism indicate that 1.99 million foreigners visited Korea in June, representing a 23.1 percent rise compared to the same month last year. This strong monthly increase brought the cumulative first-half figure to 10.71 million visitors, a 21.3 percent growth from the 8.8 million recorded during the same period in 2025, surpassing pre-pandemic 2019 levels by 26.9 percent.
South Korea’s travel account posts surplus for 3rd consecutive month in May as foreign visitor numbers increase nationwide The post South Korea travel account posts surplus for 3rd month in May appeared first on Gulf Daily Report: The Gulf’s daily news, fully reported..