NATO allies signed a $50 billion defense-industrial agreement in Ankara.

Samsung Electronics reported preliminary Q2 results: revenue 171 trillion won, below consensus 173.9 trillion won; Q1 revenue was 133.9 trillion won, year-ago 74.6 trillion won. Q2 operating profit 89.4 trillion won, above consensus 87.3 trillion won; Q1 operating profit 57.2 trillion won, year-ago 4.7 trillion won.

China’s National Financial Regulatory Administration and the Shanghai municipal government issued measures to accelerate the Shanghai International Reinsurance Centre. Insurers must strengthen internal controls and compliance and tighten operational‑risk and cross‑border capital‑flow management. NFRA will refine prudential rules for the reinsurance sector and strengthen supervision of solvency, related‑party transactions and business/financial governance. The Shanghai Financial Regulatory Bureau is supported to develop a risk‑aligned monitoring system to improve penetration and effectiveness of surveillance for cross‑border reinsurance cessions and on‑exchange transactions. The reinsurance registration and trading centre will be used to assist supervision and improve regulatory quality and efficiency.