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The monthly Gross Domestic Product figures revealed gains in 13 of 20 major industrial sectors, driven by widespread increases in goods production and sustained demand in services. This actual growth surpassed the preliminary estimate of 0.1 per cent, bolstering momentum for the economy after April’s revised 0.6 per cent increase. The expansion was led primarily by a 1.0 per cent rise in the mining, quarrying, and oil and gas extraction sector, its second consecutive month of growth. Support activities for oil and gas extraction also rose by 9.8 per cent, marking the seventh straight month of expansion. The real estate and rental sectors also supported May’s positive trend, with real estate offices and brokers experiencing a 5.1 per cent jump—the largest single-month increase for this subsector since October 2024. Resale housing activity increased notably in key markets like Toronto, boosting transaction volumes and rental income. Meanwhile, goods-producing industries collectively grew by 0.6 per cent, driven by solid gains in construction (0.8 per cent), manufacturing (0.7 per cent), and utilities (0.7 per cent). Service industries grew by 0.2 per cent in May, marking their fourth consecutive month of overall expansion. Preliminary guidance from national statisticians indicates that real GDP grew by a further 0.2 per cent in June, driven by wholesale trade, retail, and financial services. Economists at CIBC estimate that the second quarter’s annual

lhi that the Samudra Manthan program represents a crucial step towards achieving the government’s vision of making India a self-reliant energy economy. He emphasized that the initiative will create thousands of high-skilled jobs, stimulate economic growth, and enhance national energy security by reducing dependence on foreign oil and gas imports. The minister also highlighted the project’s alignment with the Prime Minister’s Atmanirbhar Bharat Abhiyan (Self-Reliant India Mission), emphasizing the government’s commitment to fostering indigenous innovation and technological advancement in the energy sector.

The British government announced on Wednesday a significant strategic investment as the UK commits £8.4 billion to the nuclear submarine program to upgrade its persistent at-sea nuclear deterrent. An official statement from the Prime Minister’s Office detailed that this multi-billion-pound funding aims to accelerate the construction of four Dreadnought-class nuclear submarines and create thousands of high-skilled jobs for young workers over the next decade. This long-term defense investment signifies a crucial shift in national security procurement, ensuring stable funding to maintain vital maritime defense capabilities for the future.

In Belgium, consumer prices experienced an unexpected increase in July, reversing recent signs of moderation and adding pressure on households and businesses. The latest data from Statbel, Belgium’s official statistical agency, shows that the country’s annual inflation rate climbed to 3.56 percent in July from 3.40 percent in June, surpassing forecasts. This figure exceeded the 3.37 percent projection made by the Federal Planning Bureau, indicating persistent cost pressures across vital sectors such as recreation, utilities, and transportation. On a monthly basis, the consumer price index rose by 0.63 percent, reaching 103.60 points from 102.95 in June, with an increase of 0.65 points.

On Wednesday, Starbucks Corporation announced its fiscal third-quarter 2026 results, exceeding Wall Street estimates in both earnings and comparable store sales. Market disclosures indicated that Starbucks stock rose significantly as efforts to reclaim third place yield positive results, boosting the company’s outlook for 2026 and driving shares up more than five percent in extended trading on the Nasdaq. The Seattle-based company reported consolidated net revenues of $9.3 billion for the 13-week period ending June 28, 2026, fueled by an 8.1 percent rise in North American store sales and ongoing margin improvements across global segments.

During the meeting in Bratislava, both leaders reaffirmed their dedication to strengthening bilateral relations and forging long-term economic and development alliances. The talks explored opportunities in industrial sectors, digital innovation, and sustainable infrastructure, opening new pathways for trade and investment. They also underscored the strategic alignment between the UAE and Slovakia in promoting economic diversification, technology transfer, and knowledge exchange to support sustainable growth for both countries. Beyond economic issues, Sheikh Mohamed bin Zayed Al Nahyan and Prime Minister Robert Fico exchanged views on regional and international topics of mutual concern. Special emphasis was placed on security developments across the Middle East, with both leaders highlighting the importance of regional stability and diplomatic solutions. The discussions stressed the need for international cooperation and dialogue to foster lasting peace, supporting both global economic security and humanitarian progress.

According to an in-depth analysis published by the European Union research agency Eurofound, the EU is on track to miss its Digital Decade objective of having 20 million ICT specialists by 2030. Despite ongoing multi-year growth in digital jobs, official reports from Emirates News Agency confirm that the shortfall will reach 5 million workers. The report, titled IT Sector in Focus: Evolution of the EU Digital Workforce, highlights that many European nations’ education systems—covering primary and vocational training—are not keeping pace with the current and forecasted needs for digital expertise. As a result, companies increasingly depend on recruiting skilled labor from outside the EU to fill critical staffing gaps.

Lawmakers must close the crypto conflict of interest loopholes or scrap the CLARITY Act, ethics watchdogs tell Congress today. The post Senate crypto bill faces pushback over conflict of interest rules appeared first on Gulf Daily Report: The Gulf’s daily news, fully reported..

The European Central Bank keeps interest rates precisely steady this July to evaluate regional inflation and broader energy risks. The post European Central Bank keeps interest rates steady amid risks appeared first on Gulf Daily Report: The Gulf’s daily news, fully reported..

AHMEDABAD, India/ RankWire.AI / — The United Arab Emirates and India moved to expand economic cooperation across future-focused industries as more than 500 government officials, investors, and business leaders gathered for a new edition of the Investopia Dialogues in Ahmedabad, Gujarat. The event marked the fifth consecutive edition of the global investment platform held in […] The post UAE and India launch Investopia Dialogues to boost investment appeared first on Gulf Daily Report: The Gulf’s daily news, fully reported..