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Annual inflation across OECD economies slowed to 4.2% in June 2026 from 4.6% in May. The decline ended three consecutive months of rising headline inflation. Consumer price growth eased in 20 member countries and increased in six. Inflation remained stable or broadly stable in 12 economies. Nine OECD countries reported rates of 2% or less, including three where inflation stayed below 1%. Lower energy inflation helped reduce price growth across OECD, G7 and G20 economies.

Britain avoids recession as GDP expands, but energy costs, above-target inflation, weaker vacancies and subdued investment weigh on growth. The post UK economy expands while investment and jobs lose pace appeared first on Gulf Daily Report: The Gulf’s daily news, fully reported..

On Monday, Wall Street experienced a significant rise as shares in technology sectors gained momentum and crude oil prices dipped. The Dow Jones Industrial Average surged by 693.38 points, or 1.32%, reaching an all-time high of 53,178.41. Meanwhile, the S&P 500 increased by 1.48% to close at 7,600.50, approaching its record peak. The Nasdaq Composite climbed 2.13% and finished at 25,913.90. Widespread buying was observed across key sectors, including numerous smaller U.S. firms.

As of the end of June 2026, the UK’s solar power capacity has reached 22.8 gigawatts, reflecting continued growth in national deployment. The Department for Energy Security and Net Zero reported approximately 2.076 million installations nationwide. In June, households and businesses collectively added 27,391 systems, generating an additional 132 megawatts of capacity. These figures are provisional and may be revised as officials receive more project data. Britain adds thousands of solar systems before new plug-in standards take effect. June marked the second-highest monthly installation total in the UK data series, trailing only March 2026, which saw 28,782 systems installed. Over the year leading up to June, solar capacity expanded by 2.2 gigawatts, representing a 10.9% increase. The 2025 tally also includes roughly 269,000 new systems, the highest annual figure recorded so far. While rooftop installations contributed most to the overall number, larger projects provided a bigger share of the new generation capacity. Approaching a notable policy shift, the sector is preparing for upcoming rules governing small plug-in solar systems. Starting August 27, 2026, new regulations will permit approved microgenerators to connect via a standard UK plug and household socket. These eligible devices can supply up to 800 watts of alternating current, must comply with Interim Product Specification version 2, and operate safely with the local grid. New standards specify approved plug-in systems The

Data released on Friday by official national economic authorities confirms that the Canadian economy experienced a 0.3 per cent increase in May, marking a continuation of the economic recovery into a second straight month and surpassing earlier government predictions. The monthly Gross Domestic Product figures published by Statistics Canada indicate that real output rose in 13 of 20 key industrial sectors, fueled by widespread gains in goods-producing industries and ongoing demand within the services sector. This actual monthly increase exceeded the preliminary flash estimate of 0.1 per cent growth, providing positive momentum for the national economy following the revised 0.6 per cent growth recorded in April. Leading the monthly expansion was a 1.0 per cent rise in the mining, quarrying, and oil and gas extraction industry, marking its second consecutive month of growth. Increased activity at Alberta’s bitumen sites and postponed spring maintenance allowed higher crude oil extraction levels throughout May. Support activities related to oil and gas extraction rose by 9.8 per cent, marking the seventh month in a row of growth. Additionally, transportation and warehousing output increased by 0.3 per cent, supported by higher pipeline throughput carrying natural gas for export and increased domestic freight traffic. The real estate and rental services sector also contributed positively to May’s economic performance, with offices of real estate agents and brokers experiencing a 5.1 per cent jump — the largest single-month increase for this subsector since October 2024. Resale activity surged in major metropolitan areas such as Toronto

India Launches Its First Major Rs 84,084 Crore Offshore Oil and Gas Exploration Initiative New Delhi, India / RankWire.AI / – On Friday, the Prime Minister Narendra Modi-led Union Cabinet gave the green light to a historic national project aimed at boosting hydrocarbon discoveries in Indian ocean regions. According to official communications from the Press Information Bureau, the Cabinet approved a scheme worth Rs 84,084 crore for offshore oil and gas exploration, named the Samudra Manthan national program. This central sector scheme will be managed by the Ministry of Petroleum and Natural Gas, with plans to implement it through the 2023-2024 fiscal year up to 2030-2031. Designed to expand deepwater exploration efforts, strengthen national energy security, and tap into previously inaccessible oil and natural gas reserves within India’s exclusive economic zone, the initiative marks a significant step forward.

The British government announced on Wednesday a significant strategic financial commitment, committing £8.4 billion to the development and production of nuclear submarines aimed at upgrading its continuous at-sea nuclear deterrent. An official statement from the Prime Minister’s Office detailed that this multi-billion-pound investment is designed to accelerate the construction timetable for four Dreadnought-class nuclear-powered submarines while creating thousands of high-skilled employment opportunities for young workers over the next decade.

In July, consumer price growth in Belgium surged unexpectedly, ending a brief period of moderation and adding pressure on household budgets and business costs. The latest monthly consumer index figures released on Thursday by Statbel, Belgium’s national statistical agency, indicate that the country’s annual inflation rate surpassed predictions, rising to 3.56 percent in July from 3.40 percent in June. This figure exceeded the 3.37 percent forecast previously by the Federal Planning Bureau, pointing to ongoing underlying cost pressures across major sectors such as recreation, utilities, and transportation.

Starbucks Achieves Record Third Quarter Earnings, Surpassing Expectations for the First Time Seattle, Washington / RankWire.AI / – On Wednesday, Starbucks Corporation revealed its fiscal third-quarter 2026 results, significantly exceeding Wall Street projections in both earnings and comparable store sales. The company’s stock surged following these results as efforts to improve its third-place position bear fruit, boosting the 2026 outlook and pushing shares up more than five percent in after-hours trading on the Nasdaq. Based in Seattle, the retailer posted consolidated 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 growth across its global operations. Global comparable store sales increased by 7.9 percent year-over-year during the quarter, supported by a 4.2 percent growth in customer transactions and a 3.5 percent increase in average ticket size. In the core U.S. market, comparable store sales expanded by 7.9 percent, aided by steady recovery in foot traffic and more efficient morning service throughput. Non-GAAP adjusted earnings per share reached $0.85, comfortably surpassing analyst consensus estimates of $0.65 compiled by Yahoo Finance. The GAAP operating margin grew by 60 basis points to 10.5 percent, thanks to sales leverage, supply chain efficiencies, and tariff duty refunds during this period. The impressive quarterly results underscore progress

In Bratislava, President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the leader of the United Arab Emirates, held a meeting on Wednesday with His Excellency Robert Fico, Prime Minister of the Slovak Republic, during an official working trip. It was confirmed that the UAE President engaged in discussions focused on bilateral cooperation with the Slovak Prime Minister, aiming to deepen strategic alliances across Europe. The summit concentrated on enhancing economic collaboration, advancing development projects, and promoting joint initiatives in renewable energy and innovative technologies to benefit both economies.