AGP Executive Report
Last update: 8 hours agoMiddle East conflict hits payments: Global Payments cut its 2026 forecasts after the Middle East war disrupted travel and cross-border spending, with normalized constant-currency net revenue growth now guided at ~4%-5% (vs ~5% before). Energy-trading windfalls: Glencore said first-half energy trading earnings jumped to $2.66bn as Iran war-driven market dislocations boosted LNG, oil and shipping. Strait of Hormuz deal chatter moves markets: Reports of progress on US-Iran/Oman talks to reopen the Strait of Hormuz lifted risk appetite and pushed oil and equities higher, though a vessel strike offshore Oman added uncertainty. Iraq fiscal strain: Iraq’s public employees reportedly face delayed July salary payments as oil exports remain disrupted by Strait closures, with officials warning cashflow may force later payment cycles. Pakistan power privatisation push: PM Shehbaz Sharif ordered a faster, investor-focused plan to privatise power distribution companies (DISCOs), including hiring international experts and completing reforms within a month. Israel-Palestine flashpoints: Israeli forces carried out raids in the West Bank, including Qalandiya, with rights groups warning conditions are being made “unliveable.” Fintech/payments in the region: Absa and UKEF announced a $100m UKEF-backed financing programme for African businesses buying UK goods and services, using Absa’s client network to support trade.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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