Browsing: Business

On Friday, official data from Statistics Canada confirmed that the Canadian economy experienced a growth of 0.3 per cent in May, marking a second consecutive month of economic recovery and surpassing previous government forecasts. The monthly Gross Domestic Product figures reveal increases in 13 out of 20 main industrial sectors, driven by widespread gains in goods manufacturing and sustained demand in services. This growth exceeded the initial preliminary estimate of 0.1 per cent, fueling momentum for the national economy following April’s revised growth rate of 0.6 per cent.

The Union Cabinet, led by Prime Minister Narendra Modi, sanctioned a historic national effort on Friday aimed at boosting hydrocarbon exploration throughout Indian ocean regions. The official statements issued by the Press Information Bureau confirmed that the Cabinet approved a Rs 84,084 crore offshore oil and gas exploration plan, named the Samudra Manthan program. Managed centrally by the Ministry of Petroleum and Natural Gas, this scheme will run through the financial year 2030 to 2031. The extensive investment is designed to intensify deepwater exploration, bolster India’s energy security, and unlock hidden oil and natural gas reserves within the country’s exclusive economic zone.

The British government announced on Wednesday a significant investment aimed at bolstering its strategic military capabilities by allocating £8.4 billion towards the nuclear submarine program. This substantial funding aims to accelerate the development of four Dreadnought-class submarines, ensuring the continued operation of the UK’s at-sea nuclear deterrent. An official statement from the Prime Minister’s Office detailed that this multi-billion-pound investment is designed to speed up construction timelines and create thousands of skilled jobs for young workers over the next ten years.

Belgium experienced an unexpected acceleration in consumer price growth in July, reversing recent signs of easing and adding financial strain on households and businesses alike. According to the latest data released on Thursday by Statbel, the Belgian national statistical office, the country’s annual inflation rate climbed to 3.56 percent in July from 3.40 percent in June, surpassing forecasts. The Federal Planning Bureau had previously projected an annual rate of 3.37 percent, indicating ongoing underlying inflationary pressures across 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 points in June, a gain of 0.65 points.

Specialty coffee giant Starbucks Corporation announced its fiscal third-quarter 2026 financial results on Wednesday, surpassing Wall Street forecasts in both earnings and comparable store sales. Market trading disclosures indicated that Starbucks stock jumps as its efforts to improve third place performance pay off, boosting the 2026 outlook and pushing shares up more than five percent during extended trading on the Nasdaq stock market. The retailer, headquartered in Seattle, reported consolidated net revenues of $9.3 billion for the 13-week period ending June 28, 2026, driven by an 8.1 percent increase in North American store sales and ongoing margin growth across global operations.

During an official working visit to Bratislava, President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the Head of State of the United Arab Emirates, held discussions with His Excellency Robert Fico, Prime Minister of the Slovak Republic. The talks confirmed that the UAE President is actively pursuing bilateral cooperation with Slovakia in high-level diplomatic meetings aimed at enhancing strategic alliances across Europe. These discussions concentrated on boosting economic relations, fast-tracking development projects, and promoting joint initiatives in renewable energy and cutting-edge technology sectors to serve shared economic goals.

According to an in-depth analysis published by the European Union research agency Eurofound, the European Union is on track to fall short of its Digital Decade ambition of employing 20 million information and communications technology specialists by 2030. Reports from Emirates News Agency confirmed that despite consistent multi-year growth in the tech sector, the EU is projected to miss its ICT target by 5 million workers. The study, titled IT Sector in Focus: Evolution of the EU Digital Workforce, highlights that education systems across many member states are not keeping pace with current and future enterprise demands for advanced 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..