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Germany attracts €40 billion investment from the UAE to bolster economic ties and infrastructure development. UAE investment in Germany targets industry, AI, digital infrastructure and energy. A key focus of the UAE’s investment package is digital infrastructure. Both governments outlined plans for cutting-edge data centres with an aggregate capacity of approximately 1 gigawatt in Germany. Their joint declaration also covered areas such as artificial intelligence, industrial advancement, and energy initiatives. Germany committed to supporting the implementation of these planned data-centre projects, creating a conducive environment for their development.

During an official visit to Berlin, the United Arab Emirates and Germany strengthened their bilateral collaborations through the signing of 12 government agreements and declarations. UAE President Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz attended the announcement, which encompasses sectors such as investment, energy, technology, aviation, security, environmental policy, legal matters, and culture. As part of these efforts, both nations launched a Strategic Dialogue aimed at coordinating initiatives across multiple government sectors. These steps build upon their established Comprehensive Strategic Partnership, initiated in 2004.

Gold prices maintained their position above $4,400 an ounce on Thursday, bouncing back after an earlier decline seen in the previous session. At 0419 GMT, spot gold increased 0.3% to reach $4,414.28 per ounce. Meanwhile, December delivery U.S. gold futures edged down 0.1% to $4,457.20. During Asian trading hours, the dollar stayed subdued, providing support for bullion priced in the U.S. currency. Gold approached Thursday with levels similar to those seen late Wednesday, after recovering from earlier losses recorded earlier that day.

El Niño drought puts fresh pressure on Panama Canal capacity and reservoir levels. (AI-generated image) The Panama Canal Authority started scaling back capacity after rainfall and watershed inflows failed to meet expectations during the wet season. Initially, daily transits declined to 34 before the planned reduction to 32. The canal relies heavily on freshwater stored in Gatun Lake and Alhajuela Lake to operate its locks, which require water to lift or lower vessels navigating between the Atlantic and Pacific oceans.

Skilled technical workers inspect precision machinery components on modern factory floors. Within the joint ownership arrangement, Tel Aviv-based Aurelius Capital will hold a majority stake in the facility, while Lower Saxony, Volkswagen’s second-largest shareholder, will maintain a minority share. The primary project for the repurposed plant involves a manufacturing partnership with the Israeli state-owned defense enterprise Rafael Advanced Defense Systems. The focus will be on producing specialized systems and mechanical parts for air defense infrastructure, intended for procurement by Germany and its European allies. This decision to transition the Osnabrück site follows Volkswagen’s 2024 strategic plan to cease passenger vehicle assembly there by mid-2027, due to ongoing industrial overcapacity issues. According to statements from the factory works council, the defense manufacturing agreement aims to preserve around 1,200 specialized technical roles at the plant. This move reflects broader efforts by Israel, Aurelius, and the German state to utilize former automotive sites for defense projects as European carmakers seek alternative industrial conversions to manage excess manufacturing capacity. Israeli Private Equity Firm Collaborates with Lower Saxony on Defense Manufacturing Volkswagen’s leadership, based in Wolfsburg, underscored that the sale fits into the company’s broader efficiency initiatives aimed at streamlining its European operations. Volkswagen AG CEO Oliver Blume mentioned that this deal offers a sustainable industrial outlook for Osnabrück while fulfilling the company’s regional responsibilities. Representatives from Aurelius Capital, led by Managing Director Tomer Jacob, highlighted that the plant’s existing precision manufacturing capabilities

Egypt’s net international reserves reached an all-time high of $57.2145 billion at the close of August 2026. The Central Bank of Egypt announced this provisional figure on September 7. Prior to this, reserves were reported at $56.2939 billion at the end of July. This represents a monthly increase of approximately $920.6 million, or 1.6%. Notably, this is the first time Egypt’s official reserve holdings have surpassed the $57 billion mark.

South Korean Prime Minister Han Seong-sook will deliver opening remarks, joining delegations from the African Development Bank Group. Participants will emphasize integrating South Korea’s manufacturing expertise with Africa’s human capital and vital mineral resources. The Korea Africa partnership aims to develop AI digital infrastructure strategies as the continent seeks to close an estimated $400 billion annual development financing shortfall.

South Korea recorded its largest monthly increase in foreign exchange reserves in August. The growth in South Korea’s reserves marks the third consecutive month of increase, following rises of $370 million in June and $590 million in July. The August jump surpassed the previous monthly record of $14.29 billion set in May 2009. Despite the impressive growth, the total reserves still lag behind the all-time high of $469.21 billion reached in October 2021. These figures reflect assets within the official foreign exchange reserve holdings, expressed in U.S. dollars, and are used to gauge the country’s international financial stability. The Bank of Korea attributed the August reserve increase to a combination of factors, including higher foreign currency deposits, returns from reserve asset management, and fluctuations in exchange rates. Changes in currency values can influence the dollar value of holdings in euros, pounds, and other currencies, as the central bank converts these into U.S. dollars when calculating total reserves. Consequently, movements in major exchange rates can either inflate or diminish the reported reserve figures, even if the underlying foreign currency assets remain consistent within the portfolio. Growth Driven by Securities and Foreign Currency Deposits in August Foreign securities continue to constitute the largest part of South Korea’s foreign exchange reserves. Their value increased by $7.07 billion in August, reaching $387.07 billion, which accounts for 87.5% of the total reserves. This category includes both government and corporate securities held among official reserve assets. Additionally, foreign

South Korea’s consumer inflation accelerated to 3.1% in August compared to the same month last year, according to official statistics. This marks an increase from 2.8% recorded in July, pushing the inflation rate back above 3%. Additionally, consumer prices saw a 0.2% rise from July to August. The Ministry of Data and Statistics reported the consumer price index reached 120.05, using 2020 as the base year with a value of 100. The primary contributors to the annual increase were higher costs for fuel and mobile services.

South Korea’s outbound shipments experienced a significant year-on-year increase of 68.7% in August, reaching a total of $98.25 billion. This growth was primarily driven by ongoing global demand for high-performance memory chips and artificial intelligence infrastructure. Official figures released by the Ministry of Trade, Industry and Resources indicated that imports also rose by 22.5% to $63.51 billion during the same period, resulting in a net monthly trade surplus of $34.75 billion. This strong performance marks the 15th consecutive month of trade expansion for Asia’s fourth-largest economy.