AGP Executive Report

Budget Pressure: Belgium’s budget talks are at a critical stage ahead of the 13 October deadline, as the government faces difficult choices over spending. Strike Disruption: A nationwide union strike hit public services on Monday, with only seven in 10 Intercity trains and about 61% of De Lijn services running. Trade and Investment: King Philippe’s state visit to Kazakhstan is opening discussions on transport, critical minerals, energy, agriculture and digitalisation; Kazakhstan says Belgian investment in its economy has topped $15 billion since 2005. Clean Energy: ENGIE, Port of Antwerp-Bruges and partners are investing in eight new Zeebrugge wind turbines, expected to supply power equivalent to 33,000 households from 2028. Belgian Tech: SAP has acquired Belgian AI workforce company TechWolf, expanding its workplace software and AI offering. Jobs: Recruitment group Hays reported weaker permanent hiring and is reviewing its Belgian operations as Northern Europe’s jobs market remains fragile.

Retail: AS Watson has named Katinka Ruikes managing director of Kruidvat Belgium from January, while she keeps her Netherlands role to strengthen Benelux operations. Trade: The EU and China reached an understanding that could halve projected Chinese hybrid-car exports to Europe, a shift with implications for Belgian manufacturers and suppliers. Public finances: Belgium’s budget talks are nearing a critical stage ahead of the 13 October deadline. Kazakhstan ties: King Philippe’s state visit includes a Belgian-Kazakh Business Council and talks on critical minerals, as a 110-member delegation seeks closer commercial links. Pharma: A Dutch court injunction blocks sales of subcutaneous Keytruda in Belgium and seven other markets over a patent dispute; the ruling is not final, and validity challenges continue. Agriculture: Brussels has confirmed the drought’s full impact on 2026 crop output, adding pressure on farmers and food supply chains.

Critical Materials: The EU is accelerating 46 strategic projects to secure supplies for industry, energy and defence, spanning mining, processing and recycling. China Trade: Brussels says a new understanding with Beijing could cut Chinese hybrid-car exports to the EU by more than half over four years, though key implementation details remain unclear. Kazakhstan Mission: King Philippe and Queen Mathilde begin a visit with a 110-member delegation, including business leaders; the programme includes a critical-minerals roundtable and the launch of a Kazakh-Belgian Business Council. Budget Pressure: Belgium’s budget talks are at a critical stage ahead of the October 13 deadline. Disruption Ahead: A national protest against austerity is expected to disrupt flights, trains and public services.

Budget Pressure: Belgium’s budget talks are nearing a critical point ahead of the October 13 deadline. An anti-austerity rally in Brussels drew 30,000 to 50,000 people; prosecutors remanded 21 over protest violence. Trade Mission: King Philippe and Queen Mathilde begin a state visit to Kazakhstan with a 110-member delegation, including business leaders. Talks will focus on critical minerals, logistics, agriculture and AI, with a business council and new cooperation roadmap on the agenda. EU-China Trade: A preliminary Brussels-Beijing understanding could cut projected Chinese hybrid exports to Europe by more than half over four years. But it sets no quota or market-share cap, leaving European manufacturers pressing for stronger protections.

Belgium Budget: Coalition talks are nearing a 13 October deadline, with parties still divided over how to secure roughly €10 billion in fiscal adjustments by 2029. Trade and Investment: King Philippe and Queen Mathilde’s Kazakhstan visit brings a 110-member delegation to explore cooperation on critical minerals, transport links, healthcare and AI. Business Technology: SAP has agreed to acquire Belgian AI work-intelligence firm TechWolf, in a major deal for the country’s tech sector. Retail: Colruyt is expanding Toshiba self-checkout to 150 Belgian stores. EU Finance: Finance ministers have struck a deal to strengthen cross-border market supervision, advancing plans for a more integrated European investment market. Industry and Trade: An EU-China understanding could halve projected Chinese hybrid-car exports to Europe over four years, while seeking progress on market access and critical raw materials.

Austerity Showdown: Around 30,000 people marched in Brussels against Prime Minister Bart De Wever’s planned €10 billion in savings. Clashes with police and nationwide strike action disrupted transport and services as the government faces pressure to tackle public debt. EU Finance: Finance ministers agreed a capital-markets reform compromise that limits ESMA’s supervisory powers, drawing criticism from the European Commission and ECB. Belgian Tech: SAP has bought Ghent-based AI workforce software company TechWolf in a deal described as a record for a Belgian venture-backed firm. Ghent biotech startup SpectaCell also launched with €6 million to develop its cell-analysis platform for immunotherapy. Retail Expansion: Colruyt Group is bringing Toshiba self-checkout technology to 150 Belgian stores. Clean Energy: Construction is due to start this month on eight wind turbines at Zeebrugge, adding 42.6 megawatts of capacity and expected to generate 115 gigawatt-hours a year from 2028.

Trade & Investment: King Philippe and Queen Mathilde’s 11–14 October visit to Kazakhstan will bring 25-plus business leaders and ministers to explore deals in critical minerals, logistics, agriculture and transport, including Middle Corridor links. Belgium says investment in Kazakhstan has exceeded $14 billion since 2005. Capital Markets: Brussels has criticised EU governments’ watered-down plan for integrating financial markets. Belgian Finance Minister Jan Jambon also objected to the compromise, which the European Commission says falls short of its goals. Belgian Business: SAP is set to acquire Brussels-based AI workforce software firm TechWolf, while Antwerp’s CMB.TECH has sent the world’s first ammonia-powered dry-bulk ship on its maiden voyage, with 21 such vessels planned for delivery by 2029. Companies: Basic-Fit is extending its Wellhub partnership to Belgium, the Netherlands, Luxembourg and France, adding an employer-backed route to reach members. Disruption: A national strike over austerity brought students into the protests, with flights, trains and public services facing disruption.

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.