AGP Executive Report

Strike Disruption: Belgium’s national strike is expected to hit public transport and cancel around 100 Brussels Airport flights on Friday, disrupting commuters and business travel. Tech Deal: SAP has agreed to buy Belgian AI work-intelligence firm TechWolf, with the deal expected to close in the fourth quarter. Trade Links: A UAE Chambers mission is exploring new partnerships with Belgian companies and investors; separately, Belgium and India discussed a green shipping corridor linking Indian ports with Antwerp-Bruges. Life Sciences: Antwerp-based Agomab will present long-term trial data for its Crohn’s disease drug at UEG Week, supporting plans for a global Phase 2b study. Industry Policy: Flanders’ planned abolition of its Screen Flanders film incentive has sent shockwaves through the region’s creative industry.

Strike Disruptions: Belgian unions’ protests are set to hit flights, rail and public services, with about 140 Brussels Airport flights expected to be cancelled Friday. The action opposes budget cuts as the government seeks €10 billion in savings by 2029. Banking Policy: Belgium’s central bank chief Pierre Wunsch pushed back against an ECB proposal to increase charges on commercial banks, warning it could blur the line between monetary and fiscal policy. EU-China Trade: EU Trade Commissioner Maroš Šefčovič is in Beijing for talks on a €360 billion trade deficit, as the bloc weighs tougher action over Chinese exports and subsidies. Belgian MEP Hilde Vautmans helped lead a European Parliament call for a firmer response. Defence Industry: Thales Belgium and Czech aircraft maker Aero Vodochody are advancing tests of Belgian-made rockets for a drone-hunting jet, targeting a lower-cost option for countering drones. Industrial Investment: New Holland’s Zedelgem harvesting plant, which exports machinery to around 130 countries, received €150 million in investment from 2022 to 2025 to expand production and engineering.

Trade & Investment: Belgium and Kazakhstan are looking to deepen cooperation in transport, renewable energy, industrial decarbonisation and critical raw materials. Talks also explored Belgian investment and technology for Kazakhstan’s infrastructure and higher-value manufacturing. Belgian Tech: SAP is set to acquire Belgian workforce-data firm TechWolf in a deal described as a record for a Belgian venture-backed company. Orange Belgium and Nokia have also showcased a 50-gigabit fibre network, highlighting the country’s next-generation connectivity push. Business Links: Belgian entrepreneurs have invested about €2 million in an Armenian fund, while a Belgian-Armenian healthcare centre is planned to support medical tourism. Transport Disruption: A national strike is expected to cancel around 140 flights at Brussels Airport, disrupting routes including services to London and Manchester. EU Trade: The European Parliament has urged a tougher approach to China, citing trade and security risks as Brussels prepares for further trade talks with Beijing.

Cross-Border Investment: Belgian entrepreneurs have invested about €2 million in an Armenian fund, while a business mission of around 15 Belgian executives is exploring deals in healthcare, logistics, construction, IT and infrastructure. Digital Compliance: Mandatory e-invoicing has gone live in Belgium, adding urgency for companies to upgrade finance systems and meet real-time reporting rules. Travel Disruption: A national strike is expected to cancel around 140 flights at Brussels Airport on Friday, affecting services including Brussels Airlines routes to London and Manchester. Connectivity: Orange Belgium and Nokia have demonstrated a 50 Gbps fibre network, showcasing the next step in the country’s high-speed broadband capacity. Tech Deals: SAP is acquiring Belgian workforce-software company TechWolf in a landmark local venture-backed deal, strengthening the country’s profile in enterprise AI. Public Finances: Belgium’s budget crisis is deepening as a proposed €10 billion deal faces a crucial test.

Nobel Spotlight: Belgian physicist Francis Halzen won the 2026 Nobel Prize in Physics for IceCube work detecting “ghostly messengers” — high-energy neutrinos from deep space — reinforcing Belgium’s scientific clout. World Cup Governance: FIFA president Gianni Infantino faces renewed scrutiny after reports that DR Congo goalkeeper Lionel Mpasi was allegedly ineligible, with lawyers reportedly aware months earlier but no action taken. EU Defence Finance: Belgium and Czechia received first payments under the EU’s SAFE defence instrument, with Belgium taking €1.2bn (15% of its €8.3bn allocation), aimed at speeding joint ammunition, missile and air-defence procurement. Aviation Disruption: Brussels Airport warned of around 140 flight cancellations due to a strike involving ground-handling firm Alyzia. Belgian Business & Tech: SAP is set to acquire Belgian AI workforce software firm TechWolf, adding to a busy week of European tech dealmaking. Sustainability Built Environment: BRE announced winners of the BREEAM Awards 2026, spotlighting projects improving energy performance and climate resilience. Data Centres & Water: A new study flags water stress concerns from AI data-centre expansion, with Belgium among the countries most affected. Markets Macro: US trade deficit widened to $105.6bn in August as imports hit record highs, keeping pressure on growth expectations despite tariffs.

M&A in Tech & HR: SAP agreed to buy Belgian workforce-data firm TechWolf (Ghent) for an undisclosed sum, aiming to plug gaps in its HR software as companies reorganise around AI; TechWolf will stay independent and keep serving non-SAP clients, with closing targeted for Q4 pending regulators. Belgium in Global Science: Belgian-American physicist Francis Halzen won the 2026 Nobel Prize in Physics for work behind the IceCube Neutrino Observatory at the South Pole and the discovery of high-energy “ghost” neutrinos. EU Trade Tensions: France and Germany are pushing a new EU trade defence tool to counter “systemic market-distorting practices,” with a Chinese expert warning it could backfire and weaken EU-China economic ties. Housing Pressure in Europe: EU-wide efforts to speed up housing construction are back in focus as rents rise and supply shortages persist, with policy debates heating up in Brussels and Strasbourg. Energy Costs in Brussels: European Commission President Ursula von der Leyen put soaring EU energy prices at the centre of the bloc’s agenda, outlining moves on refinery costs, methane rules and electrification ahead of the October Council. Belgium-linked Security & Defence: The US approved major missile and drone-related deals (including Patriot support for Kuwait and Javelin sales to Egypt), underscoring continued demand for precision and layered air defence.

Belgium-EU Security & Moldova: Belgium’s PM Bart De Wever met Moldova’s PM Vasile Tofan in Brussels, focusing on Moldova’s EU accession path, regional security amid Russia’s war on Ukraine, and pressures from high energy prices and a hydrological crisis. EU Cost-of-Living: The European Parliament is set to debate household affordability on 7 October as euro-area inflation rises to 3.8% in September, with energy inflation jumping to 18.8%, adding fresh strain for families and businesses. EU-Moldova Funding: The EU transferred €157m to Moldova for structural reforms as accession advances. Belgian Business Expansion: Econocom expanded its managed workplace services to the Netherlands, offering daily management, security, support and lifecycle services for businesses. Tech & Privacy: Dutch eyewear chain Hans Anders suspended sales of Meta Ray-Ban smart glasses in the Netherlands and Belgium over privacy concerns, joining a wider European backlash. Packaging & Recycling: Zamak recycling is positioned as PPWR implementation accelerates, with the material recognized as recyclable by CEN and supported by mapped recycling capacity. Demography Dashboard: The IFR launched a Europe-wide Demography Dashboard projecting when migrant populations could surpass 50%—with Belgium flagged for a tipping point around 2044. Defense Industry: The UK extended Airbus support for its RAF A400M fleet with a £189.8m deal aimed at boosting daily mission-ready aircraft by 30% by end-2027.

Telecom Regulation: Telenet has lost its appeal in Antwerp over misleading “fiber” marketing, with the court ruling it can’t use “fiber/fibre/glasvezel” for services that run partly over coax unless it clearly states coax is involved in the same ad. EU Justice Watch: Belgian federal police have opened an investigation into former EU liberal leader Guy Verhofstadt over how he oversaw interns at the European Parliament (2009-2019), with the EPPO and OLAF previously involved. Belgian Business & Tech: Hans Anders has indefinitely stopped selling Meta Ray-Ban smart glasses in the Netherlands and Belgium, citing privacy and political concerns. EU Foreign Policy: Former European diplomats and ex-premiers (including Belgium’s Yves Leterme) urge the EU to act against Israel’s planned E1 settlement expansion near Jerusalem, warning it could derail a two-state solution. Defence & Readiness: Luxembourg’s new Chief of Defence Claude Robinet says equipment alone won’t fix capability—army infrastructure and ammunition stockpiles remain key bottlenecks. Markets & Housing: Netherlands data shows fewer newbuild home sales in Q2 2026, while existing-home sales rose slightly.

Smart Glasses Backlash in Benelux: Dutch eyewear chain Hans Anders has suspended sales of Meta’s Ray-Ban smart glasses in the Netherlands and Belgium, citing privacy concerns and the wider political debate over covert recording. Eurozone Rates & Bond Stress: Traders are watching for contagion after a sell-off hit euro-area government bonds, with France dragging spreads wider and Belgium among the affected. Belgium in the Defence Supply Chain: Damen is seeking nearly €4.7bn in damages from Germany after Berlin cancelled a frigate order; Belgium has also faced scrutiny over longer delivery timelines for its own naval procurement. Payments Reform in West Africa (BCEAO): The BCEAO makes PI-SPI mandatory from Nov 2 for UEMOA interoperable electronic money transfers and revises fees, explicitly aiming to spur “new uses.” Energy Markets Watch: OPEC+ kept November output targets unchanged while warning that attacks on energy infrastructure and shipping routes threaten global oil supply. Belgian Business Talent Spotlight: Apple has reportedly hired Belgian furniture designer Julien Renault to rebuild its industrial design team, signalling a push toward products that fit everyday home life. EU Mobility Rules: Germany clarified that EU/EFTA citizen spouses can move and work without a residence permit, covering nationals from 31 countries including Belgium.

Smart Glasses Backlash: Dutch eyewear chain Hans Anders has suspended sales of Meta Ray-Ban smart glasses in Belgium and the Netherlands, citing intensifying privacy and political scrutiny after reports of covert recording. Climate & Consumer Pressure: Oatly, Europe’s biggest oat milk producer, is putting “89 Percent Project” climate messaging on cartons in Belgium and other markets, pushing the idea that most people want governments to act. Boycott Labels Go Mainstream: “Gaza Friendly” is gaining traction as a consumer app/label that certifies participating shops supporting Palestine solidarity, turning everyday spending into political leverage. Eurozone Rates Watch: Fed and ECB minutes are in focus as weak US jobs data and French market stress cool expectations for further rate hikes. Belgium in the Wider EU Security Mix: Belgium is mentioned as considering a frigate contribution to the EU’s Aspides Red Sea escort mission, where ship protection needs still outstrip available warships. Ukraine War Costs: Zelenskyy says Ukraine will intensify strikes on Russian refineries in response to Moscow’s broader air-attack “doctrine,” keeping energy infrastructure at the centre of the conflict. Spain Housing Crunch: Spain’s parliament rejected emergency housing decrees, triggering large protests across the country, including Madrid, as pressure mounts on Sánchez’s government.

Belgium Tech & Privacy: Meta’s Ray-Ban smart glasses are being pulled from shelves in the Netherlands and Belgium as Hans Anders suspends sales, citing rising privacy fears after reports of people being secretly filmed and footage spreading via Telegram. EU Security & Shipping: The EU’s Aspides Red Sea escort mission is still short of warships, with Italy saying it will add ships only if other countries match the effort; Belgium is considering a frigate as merchant vessels keep waiting. Eurozone Inflation Watch: Eurozone inflation is reported at 3.8% in September, deepening pressure on the ECB as energy costs surge across the bloc. Belgium Business & Retail: Bogart’s H1 revenue fell 7.4% to €114.7m as consumer demand stayed weak and the group continued reorganising its retail network, including store closures in Belgium. Belgium-Linked Tech/AI: Meta is also pushing ahead with Muse Gadgets, an open-source project letting developers build custom hardware for its Muse AI agent, with firmware and a Linux SDK. Sports Media: Zidane’s France debut drew record TF1 viewing figures, with Belgium-France matches also pulling strong audiences.

Belgium consumer hit: Bogart Group’s H1 revenue fell 7.4% to €114.7m as weak demand weighs on retail, with store closures in Belgium and Germany adding pressure. Eurozone rates watch: Eurostat puts euro-area inflation at 3.8% in September (Belgium 4.6%), driven by energy (+18.8%), reviving ECB rate-tightening concerns. Energy security: The G7 agreed a coordinated emergency release of 100m barrels (frontloaded diesel) via the IEA as Europe faces a deeper diesel crisis. Ukraine funding in focus: Brussels disbursed €2.9bn to Ukraine after Ukraine met 84/95 reform steps, keeping aid tied to rule-of-law and anti-corruption conditions. EU border friction: After EES rollout, British travellers still report uneven border procedures across countries including Belgium, despite the system’s goal of uniform digital checks. Belgium-linked geopolitics: EU aid to Sierra Leone is reportedly halted over President Bio’s refusal to extradite a wanted Dutch fugitive, raising financial risk for the country. Football finance fallout: Manchester City’s appeal continues after a ruling found “sham” contracts inflating revenues by over £900m, with wider implications for the Premier League’s integrity.

Smart Glasses Crackdown in Benelux: Dutch eyewear chain Hans Anders suspended sales of Meta Ray-Ban smart glasses in the Netherlands and Belgium, citing privacy concerns and ongoing public/political debate. Eurozone Inflation Watch: Eurostat’s flash estimate put eurozone inflation at 3.8% in September, driven mainly by higher energy costs; Belgium’s rate is estimated at 4.6%, keeping ECB rate pressure in focus. Energy Security Move: EU governments discussed releasing emergency diesel and crude oil reserves as supply tightens; a G7 deal targets 100 million barrels via an IEA-coordinated operation. Cross-Border Drug Bust: Eurojust said 21 suspects were arrested across Belgium, France and the Netherlands after 30kg of cocaine was found in bags at Brussels Airport, with cash, crypto wallets and vehicles seized. Belgium in Defence/Tech: A Belgian official warned Europe lacks resources for war or hybrid threats; meanwhile GA-ASI tested a disaster-relief communications pod for MQ-9B with SoftBank, used by operators including Belgium. Fintech Compliance Spotlight: Apideck’s Embedded Finance Index says fintechs hide KYC vendors 2.8x more than sponsor banks, highlighting a compliance gap.

Belgium Media Funding: Public Media Alliance warns Flemish public broadcaster VRT faces nearly €10m more cuts by 2029, on top of earlier savings, arguing the squeeze risks weakening reach and public-service roles amid rising disinformation. Telecom Expansion: Fiber Groep expands its managed Wi‑Fi business into Belgium and Germany, with Teleplaza delivering first projects in Belgium and Fiber Zakelijk starting in Germany. EU Inflation Watch: Eurostat flash estimates point to eurozone inflation rising to 3.8% in September (Belgium 4.6%), driven mainly by energy prices. Energy Costs: EU diesel averages hit a record €2.24/l, prompting new national price caps and subsidies across several countries, including measures affecting Belgium. Ryanair & Air Travel: Ryanair reports September passenger growth (+4%) but blames over 1,000 cancellations on UK air traffic control failures, Belgian ATC strikes and Mount Etna disruptions. Ukraine Support: EU approves a €2.9bn payment to Ukraine after Kyiv passes reforms tied to the Ukraine Plan, including integrity and electricity-market changes. Water Stress: Copernicus says major European rivers saw record-low flows since 1992, disrupting freight and power generation as drought and heat persist.

EU Recovery & Resilience: Member states have now submitted final NextGenEU RRF payment requests, covering the full €360bn in grants and €213bn in loans, as the implementation period ends. Energy & Regulation: Brussels has opened infringement steps over Spain’s failure to update its electricity risk-preparedness plan; France faces similar action and Belgium received an extra formal notice. Crypto Policy: Over 50,000 Europeans urged the Commission to loosen MiCA stablecoin reward limits, arguing regulated issuers should be allowed loyalty-style incentives. Steel Trade: Global Forum on Steel Excess Capacity members, including Belgium and the EU, adopted a framework to tackle persistent overcapacity. Cybersecurity: Europol’s Operation KillSwitch dismantled the KillSec ransomware leak site, securing at least 110TB of stolen data and arresting suspects linked to about 1,000 attacks. Belgium Business/Industry: Nouryon started generating solar power at its Morris, Illinois plant, aiming to cover about 10% of site electricity and cut emissions. Health Tech: Powerful Medical and corpuls will integrate AI ECG analysis into prehospital workflows across the EU, UK and Switzerland.

Belgium Economy & Markets: Belgium’s “money and happiness” barometer puts the median financial comfort threshold at €6,000 net per month for households, rising to €7,000 for families with two children—showing how costs and expectations shift with family size. Energy & Policy: The EU is pushing for a meaningful carbon market as ETS talks begin in the European Parliament, while Brussels also faces pressure over Ukraine funding—officials say the priority is releasing already-approved money tied to reforms. Security & Tech: Microsoft warns of MSP360 phishing campaigns that use legitimate remote-management software to gain persistent access to Windows systems, underlining growing cyber risk for Belgian and EU businesses. Logistics & Trade: Pall‑Ex Iberia, with Emons, expands a direct pallet service linking Iberia with 14 European countries including Belgium, enabling cross-border deliveries without routing via Spain/Portugal. Aviation & Business: Luxaviation Belgium adds the country’s first G700 (OO‑WEG), expanding its charter fleet and Gulfstream presence. Health & Pharma: Agomab reports positive 48-week long-term results for ontunisertib in fibrostenosing Crohn’s disease, supporting a next global Phase 2b study. EU Enforcement: The European Commission suspends budget support to Sierra Leone over refusal to extradite Dutch cocaine fugitive Jos Leijdekkers.