Business
India and Russia have committed to accelerating their economic partnership, with the goal of hitting a two-way trade volume of $100 billion by the year 2030. The initiative was discussed during high-level plenary sessions at the INNOPROM India 2026 industrial technology exhibition in New Delhi. Officials from both countries laid out a framework aimed at boosting trade from its current level of about $60 billion. India Russia bilateral trade target set at $100 billion by 2030 as diplomatic delegations and industrial leaders move to rebalance commercial flows through non-energy sector expansion.
UAE and Germany expand economic ties with a €40 billion cross-sector investment plan. This significant funding package emphasizes substantial investment in Germany’s digital infrastructure. A joint declaration from both governments outlined plans to develop new data centres with a combined capacity of approximately 1 gigawatt. Germany has committed to creating favorable conditions to facilitate these projects. The package forms part of a broader set of economic agreements unveiled during the state visit, with both nations also agreeing to collaborate more closely in technology, energy, trade, investment, and other fields covered by their bilateral relationship. During the visit, 29 business agreements and memoranda of understanding were signed between UAE and German companies. These agreements are collectively valued at over €9.356 billion, according to the joint declaration. Both governments also agreed to establish a German-UAE Investment Council, which will serve as a platform to promote investment and foster engagement between government agencies and private sector entities. Additionally, the UAE and Germany launched a Strategic Dialogue focusing on economic, technological, security, energy, transport, environmental, cultural, and educational cooperation. UAE investment plan emphasizes industry and digital infrastructure The €40 billion investment commitment builds on previous major UAE projects in Germany. According to the joint declaration, XRG has invested around €15 billion in Covestro. The two nations also identified additional corporate investment and partnership opportunities involving Covestro, RWE, ADNOC, and Masdar. These initiatives are separate from but complement the new investment package, which itself totals €40 billion.
UAE and Germany expand cooperation across investment, trade, energy and technology. The Strategic Dialogue aims to foster collaboration on regional security, defense, trade, investment, energy, climate change, digital transformation, transportation, education, and emerging technologies. Additionally, both governments signed a declaration of intent to create the German-UAE Investment Council, which will serve as a platform for public-private sector engagement on various investment initiatives. The resumption of the Joint Economic Committee adds a formal channel for bilateral economic and commercial discussions.
The Panama Canal might see its daily vessel movements reduced to approximately 29 ships in February or March 2027 if drought conditions persist, according to the canal’s new administrator. Ilya Espino de Marotta assumed her role on Sept. 7 and highlighted the potential impact amid El Niño’s influence on reservoir levels. The canal depends heavily on freshwater from rainfall-fed lakes to operate its locks, and the Panama Canal Authority has already initiated phased capacity reductions due to lower-than-expected precipitation in the watershed.
German automaker Volkswagen AG reached an agreement on Monday to sell its Osnabrück assembly plant to Israeli private equity firm Aurelius Capital and the German state of Lower Saxony. Under the preliminary arrangement, the new owners will transform the vehicle manufacturing complex into a dedicated facility for security and defense production. This significant move marks the first large-scale industrial transformation of a German automotive factory into a military hardware supplier amid ongoing restructuring within Europe’s automotive industry. Israel Aurelius German state to take over VWs Osnabrueck plant defense projects to supply air defense equipment for European security markets.
Egypt’s net international reserves reached a record $57.2 billion in August 2026. Compared to August 2025, the total reserve level is $7.9638 billion higher than the $49.2507 billion recorded in that month. This marks an annual increase of roughly 16.2%. At the end of December 2025, Egypt’s net international reserves stood at $51.4516 billion. Consequently, reserves have grown by around $5.76 billion, or 11.2%, during the first eight months of 2026. Official monthly data show a consistent rise in reserves every month since January, with gains persisting through August.