European space authorities have completed an important step toward enlarging the bloc’s leading satellite communication system following extensive negotiations in Brussels over the past months. The European Commission officially announced the signing of a contract to expand IRIS2 satellite constellation through a binding implementation agreement with the SpaceRISE industrial consortium. This formal agreement marks the culmination of detailed technical and financial discussions that began in January 2026, marking the transition of the Infrastructure for Resilience, Interconnectivity and Security by Satellite program from initial planning to full industrial deployment.

South Korea’s current account surplus reached a record $49.73 billion in June as semiconductor exports surged. The Bank of Korea reported a sharp increase from the previous record of $38.61 billion in May. June also extended the country’s current account surplus streak to 38 consecutive months. Strong goods exports accounted for most of the increase, with technology shipments leading the expansion in overseas sales.

In July, manufacturing activity within the Eurozone experienced a boost, with factory output reaching its fastest rate in nearly four and a half years. The S&P Global manufacturing PMI increased to 51.9 from 51.4 in June. Readings above 50 indicate expansion. The final figure was slightly below the earlier estimate of 52.0. While production saw an uptick at the start of the third quarter, demand indicators revealed that the recovery was still uneven across the currency bloc.