Weeks of August 26, 2024 Newsletter

??THIS WEEK: Healthcare, Climate Action, Supply Chains, Artificial Intelligence, Sustainability, Trade

Get the inside scoop on what is going to happen this week locally, in the U.S. and on the international stage.?

Read this week’s FREE EXECUTIVE BRIEF on:

Business Impact: Mpox Business Preparedness

Mpox, formerly monkeypox, is a viral disease similar to smallpox, with Clade IIb causing recent global outbreaks. Businesses are encouraged to adopt preventive measures to minimize disruption and support community health initiatives.

Read Our 3 Recommendations:

1.?????? Implement Workplace Health Protocols

2.?????? Promote Health Education and Awareness

3.?????? Support Community Health Initiatives

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Infographic of The Week

HAPPENING THIS WEEK

Monday, 26 August

China: The earnings season continues with major companies like PetroChina, BYD, and China Vanke reporting first-half results. (China)

Tuesday, 27 August

UN: Two virtual Global Policy Dialogues will feature authors of recent reports: "World Population Prospects 2024" and the "Sustainable Development Goals Report 2024." (Virtual)

UN: Press conference by the Office of the Secretary-General’s Envoy for Technology on the Global AI Governance Recommendations. (Geneva, Switzerland)

Sweden: World Water Week 2024 continues throughout the week, addressing global water challenges. (Stockholm, Sweden)

Wednesday, 28 August

A slow day in politics

Thursday, 29 August

Sweden: World Water Week 2024 continues, addressing global water challenges. (Stockholm, Sweden)

Netherlands: Global Goals 2024 event begins, focusing on sustainable development goals. (Utrecht, Netherlands)

Friday, 30 August

India: India will release its gross domestic product estimates for the April-June period, with a projected growth rate of 6%. (India)

Saturday, 31 August

China: China will release its factory activity index, providing insights into its economic recovery. (China)

Sunday, 1 September

Indonesia: The 2nd Indonesia-Africa Forum begins, focusing on deepening ties between Indonesia and the Global South. (Bali, Indonesia)

GLOBAL ECONOMIC PULSE

USA: The upcoming U.S. Personal Consumption Expenditures (PCE) report will provide insight into the Federal Reserve’s stance ahead of the Non-Farm Payroll (NFP) release, which will influence the September interest rate decision. Core PCE data is particularly critical following indications of softening inflationary pressures, as shown by recent Consumer Price Index (CPI) and Purchasing Managers' Index (PMI) data. The Federal Reserve may consider a rate cut if this trend continues, supported by weakening job trends. Additionally, consumer confidence, personal income, and spending data will be crucial for shaping inflation expectations and monetary policy.

Europe: The Eurozone’s preliminary August inflation figures are expected to show further disinflation, particularly in the services sector. The HCOB Flash Eurozone PMI indicated falling cost inflation, which could influence the European Central Bank’s (ECB) decision on a potential September rate cut. Poland’s August inflation report is also highly anticipated.

Asia: In Japan, end-of-month data is expected to point to economic recovery, with the Bank of Japan likely to continue its policy normalization at a slower pace. Tokyo’s consumer inflation may drop due to government subsidies, while industrial production and the labor market are expected to show signs of recovery. China is set to release data on industrial profits and the National Bureau of Statistics (NBS) PMI, with the People's Bank of China expected to maintain the one-year Medium-Term Lending Facility (MLF) rate. India will publish its second-quarter GDP data, showing strong growth, while South Korea and Singapore anticipate modest gains in industrial production.

WEEKLY TRADE UPDATE

USA: The United States of America saw significant regulatory and legal activities. An antitrust lawsuit was filed against RealPage for an algorithmic pricing scheme, while a settlement was announced in a Federal Communications Commission investigation into Lingo Telecom over AI-generated robocalls. A consultation was closed on the California Privacy Protection Agency notice of proposed rulemaking to establish regulations for data broker registration under the DELETE Act.

Europe: The European Union implemented multiple regulations under EU regulation 2020/1056 concerning electronic freight transport, including cybersecurity, data protection, and interoperability requirements. Additionally, the European Union enforced new obligations for Shein as a Very Large Online Platform under the Digital Services Act.

Asia: Several Asian countries made strides in regulatory developments. China adopted the Implementation Guide for Coordinated Digital and Green Transformation Development and issued opinions on improving the market access system. Consultations were closed on various regulations, including the Cyberspace Administration of China's Measures for Administration of National Network Identity Authentication Public Services. Japan adopted a report on Next-Generation Intelligent Transport Systems Communications for autonomous driving, and Hong Kong implemented guidance on the provision of custodial services for digital assets.

Latin America: In Brazil, there was significant activity regarding internet governance and data protection. The Supreme Federal Court was requested to give a joint judgment on cases related to the Brazilian Civil Rights Framework for the Internet, while new regulations on cross-border personal data transfers were put under consultation.

Africa: In Nigeria, the Nigerian Data Protection Commission ruled against Fidelity Bank for breaching the Nigerian Data Protection Act. South Africa did not have any notable entries within this specific period.

Oceania: Australia passed several laws, including the Taxation (Multinational—Global and Domestic Minimum Tax) Bill 2024. Rulings were issued on various issues, including gambling advertising breaches and design and distribution failures by Bit Trade. The Australian Communications and Media Authority and Australian Securities and Investments Commission conducted investigations and consultations related to digital platforms, cybersecurity, and consumer protection.

WEEKLY EXECUTIVE BRIEF

Business Impact: Mpox Business Preparedness

Mpox, formerly monkeypox, is a viral disease similar to smallpox, with Clade IIb causing recent global outbreaks. Businesses are encouraged to adopt preventive measures to minimize disruption and support community health initiatives.

Read Our 3 Recommendations:

Implement Workplace Health Protocols

Promote Health Education and Awareness

Support Community Health Initiatives

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