AGP Executive Report

Biotech Leadership in Belgium: Coultreon Biopharma (clinical-stage, Leuven) appointed Prista Charuworn, MD as Chief Medical Officer to accelerate trials for its SIK3 inhibitor COL-5671, targeting ulcerative colitis and psoriasis. Belgian Construction Finds Gold: Renovation workers in Dendermonde uncovered about €9m worth of gold coins and bars in a former brewery cellar, a rare “treasure” story that’s already drawing major attention. Energy Costs Hit the Road: A new country-by-country snapshot shows gasoline and diesel prices in Belgium rising sharply year-on-year, with Belgium among the higher increases. Food Tech Deal (Belgium): Ever After Foods raised $2m and acquired Belgium’s Fishway to expand cultivated protein capabilities, with an early focus on premium pet food ingredients. Competition Scrutiny: Michelin’s Euromaster pricing strategy is under fire from tyre rivals over alleged below-cost tactics, raising sensitive competition-law questions. Climate & Fire Pressure: Belgium’s biggest wildfire in the High Fens peat bogs is still flaring, with rain offering only temporary relief and crews warning it could burn for weeks or months. Logistics & Air Cargo: SolitAir launched a new charter cargo service from Dubai World Central to Bishkek, extending its Central Asia footprint.

Cultivated Protein Deal: Belgium’s Ever After Foods (EAF) is buying Fishway, a cultivated seafood specialist, and adding a further $2m strategic investment to speed commercialization; Fishway’s Belgium base will stay a “center of excellence” for aquatic biology and media. Construction & Local Economy: Renovation workers in Dendermonde uncovered about €9m in gold bars and coins while installing sewage pipes, triggering a police investigation into how the treasure ended up in the walls. Flanders Social Capacity: Flanders is delivering only about a third of promised childcare places, with permit timelines for new nursery buildings cited as a key bottleneck. Utilities Upgrade Disruption: Fluvius utility works are starting in Aarschot’s centre, bringing traffic closures around Koemarkt and Bekaflaan as the electricity grid is upgraded for rising electrification demand. Energy Security Angle: A report warns Europe’s gas dependence shift away from Russia is now pushing the contest to Africa, where Russia targets alternative suppliers. EU Security Politics: Canada’s House public safety committee is set to meet over claims a Canadian woman was arrested in Belgium for alleged NATO-related spying, raising questions about screening and monitoring.

EV Exports: India’s electric car exports jumped to $369m in Q1 FY27, with Europe the main buyer; Spain led ($146.4m, 4,007 cars) and the UK ranked second ($78.7m, 2,646), while Belgium imported about $12.9m. Maritime Risk: Think tank GTRI warns India to treat shipping chokepoints and Red Sea insecurity as a lasting trade risk, urging more domestic shipping capacity, trade finance, naval protection and alternative corridors. Construction & Logistics: Belgium’s building sector is feeling the heat from low river levels: German river shipping is carrying less sand, gravel and other materials, raising shortage and delay risks for construction supply chains. Payments Security (Belgium): Telesign and Bancontact Company are partnering to add real-time anti-fraud risk insights to the Bancontact Pay app, targeting account changes and new registrations. Wildfire Pressure: Record heat is driving major wildfires across Europe; Belgium’s High Fens blaze forced evacuations, while Greece’s Salamina island saw two deaths and hundreds evacuated after twin fires. Belgium Construction Surprise: Renovation workers in Dendermonde uncovered a hidden €9m gold hoard (bars, coins and nuggets) during sewer works; police secured it while ownership claims are investigated. Health/Industry: argenx reported positive Phase 3 topline results for efgartigimod in autoimmune myositis, meeting its Week 52 primary endpoint.

Wildfire Crisis in Belgium: A massive blaze in the High Fens nature reserve (Liège province) has burned about 30 sq km and triggered evacuations of around 600 residents in Waimes and Bütgenbach, with tourists urged to leave and a gym opened as a shelter; over 250 emergency personnel, including Belgian and German firefighters plus police, military and civil protection, are supported by helicopters as officials warn the situation remains extremely difficult. Cross-Border Fire Pressure: The same heatwave that is driving Belgium’s worst recent wildfire is also fueling blazes across Europe, while Spain reports a deadly landslide after torrential rain. Construction Finds Belgian Gold: Renovation work at a former brewery site in Sint-Gillis-Dendermonde turned into a multimillion-euro discovery: an 18-year-old student worker uncovered a hidden hoard worth about €9m (gold coins, nuggets and bars) sealed in a cellar wall; police secured it in a federal vault as ownership is now under investigation. Healthcare Policy Watch: Morocco’s new medicine-pricing rules, using Belgium among reference markets, start a mandatory review cycle and have pharmacists split over whether lower prices could affect supply and domestic production.

Wildfire Response: Belgium’s High Fens blaze has grown into the country’s biggest on record, with EU air support and Belgian police helicopters dropping water via “Bambi Buckets” as thousands face evacuation risk. Construction & Mining: Renovation crews in Dendermonde (east Flanders) uncovered about €9m worth of gold bars and coins sealed in cellar walls while laying sewer pipes; police secured the cache and warned treasure hunters off the site. Food Heritage & Brewing: A Belgian underwater photographer recovered an 1864 Guinness bottle from a shipwreck near Dover; KU Leuven scientists are assessing whether the contents could help recreate a stout from the 1860s. Energy & Industry Finance: Peter Thiel’s Thiel Macro LLC bought a 1% stake in Argentina’s Vista Oil & Gas, highlighting continued investment in Vaca Muerta shale—an energy story with scale comparable to Belgium. Bioeconomy Research: CONICET is joining the EU-funded SUSTAINCrop project to build a digital tool for assessing the environmental footprint of industrial crops used for biomaterials, with partners including Belgium.

Construction & Heritage: Renovation crews in Dendermonde (east Flanders) struck gold while laying sewer pipes, unearthing about €9m worth of gold bars and coins bricked into a cellar wall; police moved the hoard to a federal high-security vault and warned against treasure hunting, with Belgian law giving the legal owner a five-year claim window. Climate & Safety: Europe’s heatwave continues to fuel major wildfires: in Belgium’s Fagnes natural park, a blaze has burned roughly 16 sq km and triggered evacuations and reinforcements from across the country and Germany. Industry & Mobility: The EU’s e-commerce logistics agenda is heating up, with new rules already impacting Liège, while energy infrastructure shifts toward electrification and hydrogen projects. Culture & Media: Locarno Film Festival awards highlighted new European storytelling, with Romania’s Florin Șerban taking the Pardo d’Oro for “You Don’t Belong Here.”

Construction & Real Estate: Belgian builders in Dendermonde (East Flanders) uncovered a hoard of gold bars and coins worth about €9m (reported $10m+) while laying sewer pipes during a renovation for charity CAW Oost-Vlaanderen. Police moved the cache to a high-security federal vault and warned treasure hunters off the site, noting the building is being demolished and that the rightful owner may have a claim under Belgian law. Energy & Safety: Brussels Central Station area hit by two gas explosions after a gas pipe was damaged during construction; one firefighter died and three others were seriously injured, with Sibelga and civil protection teams checking for leaks and structural stability. Aviation & Tourism: TUI is weighing fewer aircraft based in Belgium, citing the planned rise in the passenger departure tax from €5 to €7 in 2027, while arguing Belgium remains less costly than some neighbours. Industry & Logistics: DHL Express expands Shenzhen air cargo capacity by tripling terminal throughput, signalling continued growth in cross-border logistics. Food & Consumer Goods: Lotus Bakeries’ Biscoff boom keeps lifting the Belgian company’s stock, as the caramel cookie spreads into more global formats and channels.

Construction & Real Estate: Renovation crews in Dendermonde (east Flanders) drilling for new sewage pipes uncovered a hidden hoard of gold bars and coins worth about €9m, with police moving the treasure to a secure federal vault and an ownership dispute possible between the finders and the property’s charity owner. Logistics & Trade: DHL Express has tripled capacity at its Shenzhen “super gateway” after a $204m expansion, and added a new air route linking Shanghai, Bangkok, Bahrain and Brussels to boost time-definite cargo flows. Industry & Circular Design: Belgian family firm Bonami says its Bonplast mannequins are fully recyclable and “virtually unbreakable,” aiming to cut retail display waste while improving durability on shop floors. Healthcare Innovation: Curium acquired Belgian radiopharma Abscint, adding an investigational HER2 PET tracer (ABS-011) to its oncology pipeline, with a Phase 2b trial ongoing in Belgium. Energy & Supply Chains: Liege Airport reports EU low-value e-commerce charges have sharply reshaped parcel flows, with shipments into its customs zone down year-on-year while higher-value volumes rose. Power Markets: EU gas storage is at record-low levels for the time of year, as LNG cargoes are diverted to Asia amid tighter supply and higher cooling demand.

Belgian Diamonds Under US Scrutiny: Senators Elizabeth Warren and Richard Blumenthal have questioned Antwerp’s diamond industry after a 321-diamond ring gifted to Donald Trump drew accusations of a “cartoonish bribe,” coming just weeks after Washington restored a zero tariff on European natural diamonds. Energy & Industry Pressure: Reuters reports Europe’s petrochemical industry is in retreat, with closures, asset sales and cancelled investments accelerating as high energy and carbon costs and China-led capacity growth bite. Water Security Watch: Luxembourg’s drinking water supply has eased slightly after July/August demand drops, but officials warn the relief could be temporary if rainfall doesn’t return. Heat on Workers: A UK heatwave is pushing calls for maximum working temperatures, with comparisons to Spain and Belgium highlighting how heat rules vary across Europe. EU Sanctions Evasion: Data cited by EUobserver/CREA shows EU imports of petroleum products from Russian crude via intermediaries doubled in July, with Turkey, India and Georgia acting as key hubs. Belgium in NATO Espionage Row: Canadian MPs demand a probe into alleged espionage by a Canadian intern arrested in Belgium at NATO SHAPE in Mons. Trade & Tariffs: The White House report “The Great Transshipment Scam” names Canada as a top enabler of China’s tariff-bypass transshipping network. Belgium Tech/Infrastructure: Comtel plans a “zero-impact” data center in Italy’s Florence area as part of an H2-Era Green Valley renewable complex led by Ge-Group.

Belgian Diamonds Under US Scrutiny: Antwerp’s diamond sector is pushing back after US senators questioned a “cartoonish bribe” claim tied to an 18-carat ring set with 321 diamonds gifted to Donald Trump, arguing the tariff exemption timing is separate from the June ceremony. Energy & Trade Pressure: EU imports of Russian-derived petroleum products via third countries surged in July despite sanctions, highlighting how refining hubs in Turkey, India and Georgia keep Russian fuel flowing. Power Grid Stress Test: Europe’s heatwave strain is again spotlighting interconnectors as grids lean on cross-border electricity transfers when wind drops and gas-fired generation stays costly. Belgium in the Spotlight for Industry: Belgium-based Lemming Film Belgium is among partners on the Roma-focused ZDF/ARTE co-production “I Matter,” with international sales secured ahead of Venice. Digital Infrastructure Watch: Comtel’s “zero-impact” data center plan in Italy (powered by an 84MW solar plant, using server waste heat for food production) signals how energy-linked site design is becoming a core industry theme.

Maritime & Energy: CMB.TECH (Antwerp) set its Q2 2026 results for 27 August and said its hydrogen and ammonia offering remains part of its “future-proof” maritime push. Port Decarbonisation: Power to Hydrogen installed its first-of-a-kind AEM electrolyser at the Port of Antwerp-Bruges, underlining Belgium’s role in industrial hydrogen scaling. Logistics Electrification: Inland Terminals Group in the Netherlands will deploy a battery-electric Hyster ReachStacker, a sign of how inland container handling is moving toward zero-emission equipment. Food Safety: Belgium’s authorities issued an alert after bottled olive oil products (Olitalia Pomace Olive Oil) were flagged for possible mineral oil contamination. Agri-Food Outlook: EU apple harvest forecasts point to a lean 2026 season below 11M tons, with growers facing heat, frost and disease pressure. Industrial Investment: Lotus Bakeries plans a €500m Biscoff capacity expansion, including new production halls in Belgium and the US. EU Policy Watch: The EU is pushing alternatives to US card networks, arguing payment sovereignty matters for resilience.

Food Safety Alert: Belgium’s Federal Agency for the Safety of the Food Chain triggered a local alert after Hong Kong flagged two “Olitalia” bottled olive oil products as potentially containing mineral oils (MOAH), with consumers urged to stop eating them immediately. Retail & Logistics Reshuffle: Just Eat Takeaway will stop delivery services in Bulgaria from September 15, citing a shift in investment focus; the move covers about 220 employees and 480 couriers. Agri-Food & Dairy Prices: European milk prices dipped in June, with base prices slightly up but processor-paid prices down once bonuses are included, underscoring a still-uneven market. Energy Transition in Ports: Power to Hydrogen began installing a first-of-a-kind 0.5 MW AEM electrolyzer at Port of Antwerp-Bruges, aiming for renewable hydrogen production under real industrial conditions. Industry Investment: Lotus Bakeries plans a €500m expansion over five years, including new cookie capacity in Belgium and a major US production hall. Trade & Compliance: The EU approved three new Protected geographical indications, including olive oil and cured meat products. Belgium in Global Spotlight: US Democrats questioned a “cartoonish bribe” claim tied to a 321-diamond ring linked to Belgium’s diamond sector and tariff exemptions.

Heatwave Watch: Europe’s persistent heat is straining transport, power and agriculture, with Belgium issuing a yellow warning as inland temperatures could hit ~35°C and drought impacts deepen. Water & Shipping: The Netherlands faces prolonged drought; Rhine flows at Lobith hit a record low, threatening river-based freight and water quality. Energy Aid to Ukraine: Belgium-linked support continues as Fluvius equipment is sent to a Kyiv-region utility to help keep critical infrastructure running. Belgian Diamonds Under US Scrutiny: US senators demand answers from Antwerp World Diamond Centre and David Gotlib Luxury Cufflinks after a 321-diamond, 18-carat gold ring tied to tariff timing sparked “bribery” concerns. Logistics & Aviation: Cargojet pilots win a major wage hike under a new five-year deal, while Europe’s new border-entry system is already doubling airport queues in some hubs. Media & Formats: Belgian distributor Primitives secures worldwide rights for ZDF/YouTube reality format “Terrain: Battle of the Flags,” built around real-world gaming.

Brussels Airport Noise Fight: Forty-two families from Dilbeek, Lennik and Roosdaal sue the Belgian state over increased aircraft noise tied to the “Crucke route” and a satellite-based landing system, saying flights now pass over homes every 2–3 minutes, including at night, without proper studies or consultation. Energy & Trade: Belgium imported 100% Russian LNG in July, despite an EU ban agreed for 2027, according to CREA—prompting criticism over continued payments to Moscow. Broadcast Tech: Mediagenix will demo how broadcasters can prepare for Brazil’s DTV+ (TV 3.0) at SET Expo 2026, pitching a platform to unify metadata, scheduling and interactive services. Climate Impact on Industry: Europe’s grain sector is reeling after the heatwave, with an estimate of about €2bn in lost revenue from reduced production. Maritime Logistics: Low river water levels are disrupting European river cruises, forcing ship swaps and itinerary changes on the Rhine, Main and Danube. Security & Ports: A woman was arrested at Brussels Airport after allegedly trying to remove 51 kg of cocaine from baggage, using a “ghost passenger” method.

Maritime Finance: Antwerp-headquartered CMB.TECH sold the Suezmax “Bristol” (2024, 156,851 dwt), booking an estimated $56.9m capital gain to land in Q4 2026 on delivery. Payments & Retail Tech: The European Payments Initiative pushed back its Wero wallet launch in Luxembourg to 1 September 2026, citing extra end-to-end testing and partner alignment for instant account-to-account services. Rail & Signalling: Belgium-based The Signalling Company NV will team with Texmaco Rail to develop ETCS solutions and advance India’s “Kavach” train protection integration. Agri-Food Innovation: A Teagasc-led European dairy-beef project (“Better-Calf”) will run research farm studies in Ireland, France and Belgium and build a 40-farm network across multiple countries. Biotech & Clinical Pipeline: Lakefront Biotherapeutics reported half-year 2026 results and said its Ouro Medicines acquisition with Gilead will accelerate gamgertamig development. Cyber/Identity & Industry Ops: A report flags critical flaws in Belgian eID software used by 2 million people, raising concerns for public-sector digital services.

Belgium Logistics & Trade: DP World says it has completed its first finished-vehicle rail run from Zeebrugge (Belgium) to Aiud (Romania), with twice-monthly services planned in H2 2026 and Aiud set as a regional distribution hub; the rail-road model could cut CO₂ by up to 55% versus long-haul trucking. Energy Security: Europe is heading into winter with LNG storage at just 58% (lowest since 2021) as gas stocks languish near lows, raising supply and price risks for industry and households. Climate Impact on Industry: Triodos estimates extreme heat and drought could shave about 1% off EU output in 2026 (around €180bn), with Belgium among the more exposed economies. Manufacturing & Investment: Gland Pharma reports a stronger-than-expected Q1 profit, citing recovery in production at its France and Belgium Cenexi units. Business & Tech Risk: Metabase issues urgent patches for a critical SQL injection zero-day exploited in the wild, urging immediate updates or endpoint blocking for self-hosted users. Mobility & Automakers: BYD is taking direct control of its Irish operation, following similar moves in Belgium and Luxembourg, as it expands its dealer network.