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Business
The latest official national economic figures released on Friday verify that the Canadian economy expanded by 0.3 per cent in May, marking the continuation of an ongoing recovery for a second month in a row and surpassing earlier government projections. As detailed in monthly Gross Domestic Product statistics published by Statistics Canada, real output saw increases in 13 out of 20 primary industrial sectors, driven by widespread growth in goods-producing industries and sustained demand across the service sector. The actual monthly growth exceeded the initial preliminary estimate of 0.1 per cent, boosting the momentum of the national economy after April’s revised growth rate of 0.6 per cent.
A wave of risk aversion swept through global financial markets, driving digital assets lower as Bitcoin breached the $63,000 mark. Data from cryptocurrency exchange Binance indicates that the leading token by market capitalization fell 3.02% over 24 hours to reach $62,957.83. This latest drop extends a multi-session sell-off fueled by volatility in tech equities, macroeconomic headwinds, and recalibrated monetary policy expectations. Furthermore, Bloomberg market data reveals that tightening spot trading volumes coincided with a rapid acceleration in long liquidations across derivative trading venues.
The UK government announced on Wednesday a funding commitment of £8.4 billion ($11.2 billion) aimed at advancing its Dreadnought-class nuclear submarine project, ensuring sustained investment in the nation’s continuous at-sea nuclear deterrent. An official statement from the Prime Minister’s Office confirmed that this financial package will speed up the construction process for four next-generation submarines while safeguarding thousands of skilled technical jobs and apprenticeships over the next ten years.
ADB lowered its 2026 growth forecast for Asia Pacific economies as energy disruption raises costs across the region.
China’s foreign exchange reserves fell 0.75% in June to $3.4163 trillion as dollar strength and asset price shifts weighed on valuations.
Africa FDI reached $70 billion in 2025, ranking third-highest since 1990 while staying above the continent’s long-term average investment level.
Developing Asia drew $644 billion in FDI in 2025, keeping its lead among developing regions as South-East Asia topped subregional inflows.
Brent crude closed at $74.16 while WTI settled at $70.44, with oil markets tracking Iranian oil rules and Strait of Hormuz shipping.
Arada launched Arada Capital in Abu Dhabi, targeting $5bn in assets under management through GCC real estate investment funds.
