⚠️🛢 Aramco's profit has been declining for ten consecutive quarters due to weak oil prices. The company's financial struggles highlight the ongoing challenges in the energy sector. For more details, visit the article on Bloomberg: here.

⚠️🇪🇺 European companies that have failed to meet earnings expectations are experiencing unprecedented declines this quarter. According to a recent Goldman research, the market is reacting more severely than in decades to profit misses.

🛢 Aramco's CEO reported that demand for oil remains robust, driven by gasoline and jet fuel consumption in the United States and China. The continued growth in these sectors highlights the ongoing need for oil as both countries recover and expand their economies. For more details, visit this article.

🌟 Canadian company Mogo has sold nearly half of its stake in WonderFi for approximately $13.8 million. The proceeds will be used to further purchase BTC for its balance sheet.

🇬🇧 BP's profit for Q2 has exceeded expectations. The company plans to conduct a new business review.

⚠️🇮🇳 The Indian rupee has hit a new low against the US dollar amid threats from Trump to raise tariffs.

🇺🇸 On August 5, Washington will make an important announcement regarding UAVs, according to U.S. Transportation Secretary Sean Duffy.

🚀 European drone manufacturer Destinus, which supplies weapons to Ukraine, plans to acquire the Swiss company Daedalean, known for its development of AI systems for aviation.

🚨 Upcoming Economic Indicators

Germany's Services/Composite PMI for July will be released at 10:55 AM Moscow time. Following that, the Eurozone's Services/Composite PMI for the same month is scheduled for 11:00 AM Moscow time. Finally, the UK's Services/Composite PMI for July will be available at 11:30 AM Moscow time.

🚀 The Republic of Tatarstan will host the first hackathon for digital solutions aimed at the Max platform. This event is expected to foster innovation and collaboration among tech enthusiasts and developers. For more details, visit the link: TASS.

📊 Germany's Composite PMI rose to 50.6 in July, up from 50.4, indicating a slight improvement in economic conditions. The Services PMI also showed positive movement, increasing to 50.6 from 49.7. These figures suggest a stabilization in the country's economic activity, which is crucial for the broader European market. For more details, visit here.

🚨 Eurozone's economic indicators for July show a Composite PMI of 50.9, up from 50.6, indicating slight growth. The Services PMI also improved to 51, compared to the previous 50.5.

🛢🇮🇳🇷🇺 Indian oil refining company Nayara Energy, backed by Russia, has exported its first batch of gasoline since the European Union imposed sanctions on it on July 18. This marks a significant milestone for the company as it navigates the challenges posed by these restrictions. For more details, visit RTRS.

🇮🇳🇷🇺 A delegation from India, led by the National Security Advisor to Prime Minister Modi, is set to visit Russia amid sanctions threats from the US, according to The Economic Times.

🚨 On August 6, the Verkhovna Rada of Ukraine will review the bill "On Virtual Assets," which aims to legalize cryptocurrency transactions. This legislation is expected to pave the way for a regulated environment for crypto operations in the country. For more details, visit this link.

🛢 BP forecasts that the increase in oil supplies from non-OPEC countries will peak in early 2026.

🚨 The UK economy showed signs of slowing in July, as the Composite PMI fell to 51.5 from 52. The Services PMI also dipped to 51.8, down from the previous 52.8, indicating a potential deceleration in economic activity.

💥🇺🇿 The valuation of IT holding company Uzum, Uzbekistan's first "unicorn," has surged to $1.5 billion following a recent $70 million funding round. This round saw participation from major players including Chinese giant Tencent and American firms VR Capital and FinSight Ventures, as reported by Forbes.

🔔 Ahead

The Eurozone is set to release its Producer Price Index (PPI) for June today at 12:00 PM Moscow time. This data is crucial for understanding inflation trends within the region.

🚨 The Eurozone reported a producer price inflation (PPI) for June, showing a month-on-month increase of 0.8%, slightly below expectations of 0.9%. Year-on-year, the PPI rose by 0.6%, surpassing the anticipated 0.5% and an earlier figure of 0.3%.

🔥🇷🇺 The Central Bank of Russia will reduce the volume of currency sales under the budget rule starting August 7, lowering it to 9.24 billion rubles per day from 9.76 billion rubles. Additionally, the Russian Ministry of Finance will decrease its sales of currency and gold to 0.3 billion rubles per day, down from 0.82 billion rubles. For more information, visit the official release.