Worley International Company announced that it is working to develop integrated solutions to support the growth of the Egyptian mining sector.
The Egyptian Ministry of Petroleum and Mineral Resources said in a press statement on Tuesday that this came during Minister Karim Badawi’s reception with Vivek Natarajan, Vice President of Worley International Company for Project Delivery Services, where they discussed ways to enhance cooperation in the field of mining, and benefit from the company’s global expertise and capabilities in supporting and developing mining projects in Egypt.
The Minister stressed the importance of benefiting from international expertise specialized in developing mining projects, and raising the efficiency of their implementation, in a way that supports the state’s direction towards maximizing the added value of mineral resources and increasing investments in the mining sector, pointing to the importance of cooperation with international companies with specialized expertise in the various stages of projects.
The meeting also discussed cooperation in the field of training and human capacity building, through practical training and technical qualification programmes, which contribute to developing Egyptian cadres and raising their capabilities to work efficiently in mining projects and benefit from global expertise, technologies and practices.
For his part, Vivek Natarajan praised the opportunity to participate in the activities of the Egypt Mining Forum 2026, stressing Worley’s keenness to enhance cooperation with the Ministry of Petroleum and Mineral Resources and companies operating in the mining sector in Egypt.
The two sides agreed to strengthen the link between Worley and companies operating in the mining sector in Egypt, to learn more directly about their needs, projects, and development stages, thus opening new horizons for cooperation in the fields of infrastructure, processing facilities, and other components of mining projects.
The French Minister of State for European Affairs, Benjamin Haddad, said on Tuesday that the European Union should use the proceeds from the billions of euros in fines imposed on Google. To reduce the contributions of member states to the Union budget.
Haddad said in an interview with France Info TV: “This is a new source of revenue for the European Union, worth 4.6 billion euros, and it should automatically lead to a reduction in the contributions of all member states,” according to Reuters.
The European Union capitals differ regarding the size of the budget and its spending priorities.
In July, the European Union imposed fines totaling 890 million euros ($1.01 billion) on Google for violating EU rules aimed at limiting the influence of major technology companies.
The recent fines raised the total sanctions imposed by the European Union on Google. Due to anti-competitive practices to 10.38 billion euros over about two decades.
The European Union governments are currently negotiating the budget for the period from 2028 to 2034. Including during summits scheduled during October, November and December, in an effort to reach an agreement before the end of the year.
The European Commission proposed that the value of the budget amount to two trillion euros, or the equivalent of 1.26 percent of the total national income of the Union, with about 168 billion euros, or 0.11 percent of the gross national income, being allocated to servicing the Union’s debts resulting from borrowing to finance the “Economic Recovery Fund” after the “pandemic.”
Japanese government bond yields remained near their highest levels in decades, Tuesday, despite strong demand at a 40-year bond auction, at a time when inflation fears, rising oil prices and rising US bond yields increased pressure on Japanese financial markets, and pushed the Nikkei stock index to decline for the second session in a row.
The yield on Japanese benchmark 10-year government bonds rose 0.5 basis points to 3.09 percent, remaining close to the 30-year high of 3.115 percent, which was recorded last week.
This came in conjunction with continued pressure on global bond markets, after US Treasury bond yields rose to their highest levels in several years, amid fears that rising oil prices would lead to increased inflation, in addition to expectations of further interest rate increases by the Federal Reserve.
In Japan, bets are increasing that the Bank of Japan will raise interest rates again before the end of the year. This adds pressure on bond prices, especially with continued concerns about inflation and potential fiscal expansion.
The Japanese Ministry of Finance sold 40-year government bonds worth about 300 billion yen ($1.91 billion), in an auction that showed strong demand. The bid coverage ratio rose to 3.1 times, compared to 2.82 times in the previous auction in July, recording the highest level since July 2020.
Takayuki Miyajima, chief economist at Sony Financial Group, said that yields close to record levels on 40-year bonds were likely to attract demand from insurance companies and foreign investors. But he pointed out that speculation about additional interest increases, the rise in their expected final level, and fears of financial expansion are still factors pressuring the market.
The 20-year bond yield stabilized at 3.915 percent, the 30-year bond yield at 4.17 percent, while the 40-year bond yield fell 0.5 basis points to 4.22 percent. The two-year bond yield, which is most sensitive to the Bank of Japan's movements, fell one basis point to 1.955 percent, moving away from the highest level in 31 years that it recorded in the previous session.
This atmosphere was reflected in the stock market, as the Nikkei 225 index closed down 0.6 percent at 65,481.27 points, while the broader Topix index fell 1.72 percent to 4,041.13 points.
Wataru Akiyama, equity strategist at Nomura Securities, said that inflation fears and the resulting rise in interest rates are putting pressure on the stock market, pointing to the growing belief that artificial intelligence stocks, which were among the main drivers of the Japanese market, have become relatively highly valued in the current interest environment.
The scope of losses within Nikkei expanded; The shares of only 36 companies rose compared to 188 shares that declined. “Nexon” shares fell 14.42 percent, “Mitsubishi Motors” shares fell 4.93 percent, and “Idemitsu Kosan” shares fell 4.92 percent. On the other hand, “Tokai Carbon” rose 4.75 percent to a record close, “Disco” rose 4.19 percent, and “Screen Holdings” rose 4.08 percent.
Tuesday's movements indicate that Japanese markets are facing a combination of pressures represented by the high cost of borrowing, the rise in energy prices, and the increasing possibility of tightening monetary policy, which are factors that may continue to influence the trends of stocks and bonds during the coming period.
