Browsing: Business

The latest official economic data from Canada, released on Friday, confirms that the Canadian economy grew by 0.3 per cent during May. This marks the continuation of a broader economic rebound into a second straight month and surpasses earlier government predictions. According to the monthly Gross Domestic Product figures published by Statistics Canada, real output rose in 13 of the 20 main industrial sectors. Gains across goods-producing industries and consistent demand within services drove this growth. Notably, the actual monthly increase exceeded the preliminary flash estimate of 0.1 per cent, providing further momentum for the nation’s economic output following April’s revised growth of 0.6 per cent.

The Union Cabinet, led by Prime Minister Narendra Modi, sanctioned a major national project on Friday aimed at boosting hydrocarbon discovery in Indian ocean basins. The official statements from the Press Information Bureau confirmed that the Cabinet has approved a scheme worth Rs 84,084 crore for offshore oil and gas exploration, named the Samudra Manthan program. This centrally managed initiative will be overseen by the Ministry of Petroleum and Natural Gas, with execution planned through the fiscal years 2030 to 2031. The multi-billion-rupee plan is designed to expand deepwater exploration activities, bolster the country’s energy security, and unlock untapped reserves of oil and natural gas within India’s exclusive economic zone.

The British government revealed on Wednesday a substantial strategic funding plan, committing £8.4 billion to the modernization of its nuclear submarine fleet. This investment aims to support the ongoing operations of the UK’s nuclear deterrent at sea. An official statement from the Prime Minister’s Office explained that this multi-billion-pound budget is designed to accelerate the construction of four Dreadnought-class nuclear submarines, while also creating thousands of high-skilled jobs for young workers over the next decade.

Belgian consumer prices experienced an unexpected rise in July, with the annual inflation rate climbing to 3.56%, according to data released by Belgium. This marks a reversal of the recent slowdown and adds pressure on household budgets and business costs. Statbel, the country’s official statistical authority, published monthly consumer index figures showing that Belgium’s inflation rate surpassed earlier predictions, increasing from 3.40 percent in June. The latest report exceeded the 3.37 percent forecast by the Federal Planning Bureau, highlighting ongoing inflationary pressures across sectors such as recreation, utilities, and transportation.

Starbucks Corporation, the specialty coffee leader, revealed its fiscal third-quarter 2026 financial results on Wednesday, significantly beating Wall Street analysts’ forecasts for both earnings and comparable store sales. The company’s stock surged following the release as efforts to enhance third-place performance show positive results, with the outlook for 2026 improving and shares climbing more than five percent during extended trading on the Nasdaq. Based in Seattle, the retailer reported consolidated net revenues of $9.3 billion for the 13-week period ending June 28, 2026, driven by an 8.1 percent rise in North American store sales and ongoing margin improvements across global operations.

During the high-level meeting in Bratislava, both leaders reaffirmed their shared dedication to advancing bilateral relations and establishing long-term economic and development collaborations. They focused on leveraging emerging opportunities in industrial sectors, digital innovation, and sustainable infrastructure to open new pathways for trade and investment. The talks highlighted the strategic alignment between the United Arab Emirates and the Slovak Republic in supporting economic diversification, technology transfer, and knowledge-sharing efforts designed to promote sustainable growth for both countries.

According to a detailed report published by the European Union research agency Eurofound, the EU is on track to miss its Digital Decade goal of employing 20 million information and communications technology experts by 2030. Confirmed by official statements from Emirates News Agency, despite ongoing multi-year employment growth across the regional tech sector, the EU is projected to fall short of this ICT target by 5 million workers. The report, titled IT Sector in Focus: Evolution of the EU Digital Workforce, indicates that most European member states’ primary and vocational education systems are not keeping pace with current and anticipated industry demands for specialized digital skills.

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..