The $10 mn bag: Original Birkin smashes records at Paris auction

• The modern design classic, owned by a Paris-based handbag collector, sparked a telephone bidding war up to seven million euros, with the final sale price set at 8.58 million.
• The final buyer, who eclipsed eight other rivals, was a "private collector from Japan", the auction house added, without giving further details.

TSMC’s H1 revenue up 40 percent

Demand for crude will continue to expand through 2050, says OPEC

• That rising demand will be "driven by expanding economic growth, rising populations, increasing urbanization, and the new energy-intensive industries like AI.
• The IEA said last month that it expects global oil demand begin to decline in 2030, driven by the rise of electric cars and the shift away from crude to produce power.

Cricket’s Indian Premier League value surges to $18.5 bn: report

• The world's richest cricket tournament generated an estimated $11 billion a year for the Indian economy in 2020.
• Since it launched in 2008 it has inspired a range of other franchise-based leagues in India in sports as diverse as boxing, badminton, poker and kabaddi.

Investments rise in data, AI, outpacing physical assets: UN

• Intangible investment across 27 high- and middle-income economies grew about three percent in real terms last year, reaching $7.6 trillion, up from $7.4 trillion a year earlier.
• In 2024, the United States led in absolute levels of intangible asset purchases, investing nearly double what runners-up France, Germany, Japan and Britain pumped into such assets.

Nvidia tops $4 trillion as US stocks shrug off latest tariffs

• But stocks pushed higher nonetheless, with Nvidia jumping 2.5 percent to top $4 trillion in market capitalization on investor bullishness over Artificial Intelligence (AI) growth.
• Briefing.com analyst Patrick O'Hare said investors are not "overly concerned" about Trump's latest tariff threats.

Trump says ‘no extensions’ to Aug 1 tariff deadline

• On Monday night, Trump had told reporters at a dinner that the August 1 deadline was "firm, but not 100 percent firm."
• Pressed on whether the letters were his final offer, Trump replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it."

Dubai Islamic Bank completes $1bn sovereign financing Pakistan

• The five-year facility is an innovative transaction, partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB).
• DIB acted as the Sole Islamic Global Coordinator and alongside Standard Chartered also served as the Joint Mandated Lead Arranger and Bookrunner.

Algeria’s Sonatrach and Italy’s ENI sign $1.35 billion deal

• The 30-year contract covers the exploration and exploitation of hydrocarbons in the Zemoul El Kbar contract area, in the Berkine Basin, 300 km east of Hassi Messaoud
• The total investments planned for exploration and exploitation in this area are approximately $1.35 billion, including $110 million allocated to research and exploration

Saudi chocolate industry booms with over 3,500 commercial records

• Riyadh leads the Kingdom in chocolate manufacturing, boasting 1,490 commercial records.
• Saudi Arabia is the region’s biggest market for chocolates and, in 2024, the Kingdom imported a whopping 123 million kg of chocolate.