Arabian Post Staff -Dubai Dubai International Airport has handled 1.5 billion passengers since opening in 1960, marking a new milestone as the city prepares to shift its aviation growth to the much larger Al Maktoum International Airport. The cumulative figure was disclosed during a Government of Dubai Media Office briefing with Dubai Airports chief executive Paul Griffiths, who said DXB’s rebound in passenger traffic was gathering pace […]
Arabian Post Staff -Dubai QatarEnergy is negotiating multi-year liquefied natural gas supply agreements with US producers running through 2031 as it seeks to replace output lost after Iranian strikes damaged key facilities at Ras Laffan, people familiar with the talks said. Discussions include Venture Global, Cheniere Energy and Woodside Energy, according to people with knowledge of the negotiations. The move would shift QatarEnergy beyond the spot-market purchases […]
Arabian Post Staff -Dubai UAE President Sheikh Mohamed bin Zayed Al Nahyan has called for stronger private-sector cooperation with Germany after attending a major business forum in Munich where companies from the two countries signed 30 agreements and commercial partnerships worth about €9.66 billion. Sheikh Mohamed told executives and investors at the Germany-UAE Business Forum on Friday that businesses would play a vital role in advancing the […]
Iran is allowing exporters and importers greater use of cryptocurrencies, including Tether’s USDT and Bitcoin, for cross-border settlements as tighter US sanctions intensify pressure on trade and foreign-currency flows. The policy shift gives businesses more flexibility to repatriate export earnings outside the central bank’s official foreign-exchange platform and use those proceeds directly to pay for imports. Crypto transactions have become one route for moving value across borders […]
Stablecoin liquidity is returning to Binance after months of withdrawals, offering a tentative sign of stronger buying capacity as Bitcoin remains above $75,000. CryptoQuant data show Binance recorded more than $1 billion in net stablecoin inflows during August, reversing part of the persistent drain from cryptocurrency exchanges that had characterised much of 2026. Bitcoin was trading around $77,300 on Saturday, September 12, after moving between roughly $76,000 […]
Arabian Post Staff -Dubai The UAE has backed closer financial coordination among BRICS members and supported the New Development Bank’s next five-year strategy during high-level meetings in Mumbai, reinforcing its expanding role in multilateral development finance. The Ministry of Finance said the country took part on Thursday in the second meeting of BRICS finance ministers and central bank governors and a special meeting of the New Development […]
Arabian Post Staff -Dubai Yemen’s Houthi movement has seized Perim Island and Dhubab on the Bab al-Mandab, giving the Iran-aligned group control of key positions overlooking one of the world’s most important shipping chokepoints as fighting intensifies along the Red Sea coast. The advance followed the withdrawal of forces aligned with Yemen’s internationally recognised government and came a day after the Houthis captured the port city of […]
Washington and Tehran are hardening their positions for a prolonged confrontation, with no clear path to a ceasefire and Middle East energy flows still severely disrupted. President Donald Trump said on Wednesday that he expected the war to end only after the November 3 US midterm elections, while acknowledging that Washington was not actively seeking negotiations. His remarks came as the conflict entered its seventh month and […]
Arabian Post Staff -Dubai Saudi Arabia told OPEC that its crude production fell to 6.238 million barrels a day in August, the kingdom’s lowest monthly level since 1990, as renewed fighting involving the United States and Iran disrupted export routes. The figure, contained in OPEC’s September monthly oil market report, was almost 1.9 million barrels a day below the 8.135 million barrels reported for July. It also […]
Arabian Post Staff -Dubai Saudi Arabia’s Public Investment Fund has launched Gulf Coast Development Company to build an integrated residential and tourism destination on the Al-Khafji coast in the Eastern Province, extending a new phase of state-backed urban development to the kingdom’s northern Gulf shoreline. The project will cover about 20 square kilometres and include a 10-kilometre waterfront along the Arabian Gulf, with eight residential neighbourhoods, more […]
By R. Suryamurthy India’s trade with BRICS has expanded dramatically, but the numbers reveal an uncomfortable imbalance beneath the rhetoric about a multipolar world and alternative financial architecture. Between FY2021 and FY2026, India’s total merchandise trade with the 11-member grouping more than doubled, from $203.1 billion to $417.5 billion. Yet the expansion was overwhelmingly […]
The article Bricks cannot de-dollarise its way out of India’s huge trade imbalance appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
Algeria has ended diplomatic relations with the United Arab Emirates after saying all efforts to preserve bilateral ties had been exhausted, marking a sharp escalation in a dispute that had already damaged political and transport links between the two Arab states. The decision was announced on Thursday by Algerian state television, which cited the authorities as saying Algeria had exhausted every avenue available to maintain relations with […]
Nasdaq has invested $100 million in Payward, the parent company of cryptocurrency exchange Kraken, extending a relationship that already spans tokenised equities and digital-market infrastructure. The investment places one of the world’s largest exchange operators directly on Payward’s shareholder register and adds a financial dimension to a strategic partnership announced earlier this year. Payward operates Kraken alongside businesses including NinjaTrader, Breakout, xStocks and CF Benchmarks, using a […]
Arabian Post Staff -Dubai DP World has priced a dual-tranche international bond offering comprising €750 million of six-year green notes and $750 million of 10-year conventional notes, extending the Dubai-based ports and logistics group’s access to both sustainable and conventional debt markets. The transaction follows a global investor roadshow arranged under DP World’s $10 billion Global Medium Term Note Programme. The euro-denominated tranche is structured as green […]
Arabian Post Staff -Dubai The Boring Company has secured $3 billion in a Series D funding round led by the United Arab Emirates and affiliated investment entities, lifting the Elon Musk-founded tunnelling startup’s valuation to $23 billion. The financing will support an expanded partnership to develop more than 150 kilometres of underground infrastructure across the UAE, building on the company’s Dubai Loop project, as well as hiring […]
The proposal is expected to feature at the BRICS leaders’ summit in New Delhi on September 12 and 13, where India, as this year’s chair, is seeking agreement on ways to lower the cost and speed up the settlement of trade, tourism and remittance payments among member states.
Reserve Bank of India Governor Sanjay Malhotra said last month that BRICS members were examining links between their fast-payment systems and central bank digital currencies, with a payments task force considering several options. He stressed that discussions remained at an exploratory stage and that no model had been agreed.
India’s preference is for interoperable national systems rather than either a common currency or centrally controlled BRICS payments architecture. Officials have framed the initiative around efficiency, cheaper transactions and use of sovereign currencies, distancing it from proposals that could be interpreted as an organised campaign to displace the US dollar.
That distinction has become politically important as BRICS members debate how far financial cooperation should go. Russia and some other members have advocated stronger alternatives to Western-dominated payment channels, while India has repeatedly ruled out backing a common BRICS currency and has resisted presenting financial initiatives as a de-dollarisation project.
The RBI earlier recommended that linking BRICS members’ digital currencies be placed on the summit agenda. Such an arrangement could allow transactions to be settled directly through participating central banks or financial institutions, reducing dependence on multiple correspondent banks and potentially cutting foreign-exchange and processing costs.
Central bank digital currencies are electronic forms of sovereign money issued by monetary authorities. Unlike privately issued stablecoins, their value and settlement are backed by central banks. India has been testing the digital rupee since 2022 and has added features including programmability and offline functionality as the RBI studies how it can complement payment methods.
Malhotra has said cross-border payments offer scope for lower costs, particularly in retail transactions. He has also said the RBI will continue efforts to promote greater international use of the rupee and encourage settlement in local currencies where commercially viable.
India is pursuing payment connectivity on a parallel track through the Unified Payments Interface, its instant retail payments platform. Prime Minister Narendra Modi this week called for UPI to be connected with payment systems in more countries. UPI is already available or linked with services in several overseas markets, including Singapore and the United Arab Emirates.
The BRICS discussions nevertheless extend beyond retail payment links. Officials have also been examining whether digital currencies issued by central banks can provide a secure settlement layer for transactions between member economies without requiring the creation of a shared currency or new supranational monetary authority.
Technical and policy obstacles remain. CBDC systems across BRICS countries are at different stages of development, and any cross-border arrangement would require agreement on interoperability, cybersecurity, data standards, foreign-exchange conversion, liquidity, governance and legal responsibility when transactions fail or disputes arise.
Trade imbalances pose another complication because a country receiving more of another member’s currency than it can use may be reluctant to accumulate balances. Policymakers have therefore also discussed mechanisms involving currency swaps and other settlement arrangements to deal with mismatches in bilateral trade.
The BRICS grouping now comprises 11 members, making consensus more difficult than when it consisted only of Brazil, Russia, India, China and South Africa. The expanded membership includes Egypt, Ethiopia, Iran, the United Arab Emirates and Indonesia, while Saudi Arabia has participated in BRICS meetings as its membership status has remained subject to clarification.
Consensys Software Inc. will split into two independently operated companies, turning its MetaMask business into a standalone consumer finance firm while creating a separate company for Ethereum protocols and institutional blockchain infrastructure. The existing legal entity will continue under the MetaMask name, with Ethereum co-founder Joe Lubin serving as chairman and chief executive. Its protocols group and institutional infrastructure operations will move into a newly formed company […]
Robinhood chief executive Vlad Tenev has rejected AMC Entertainment chief Adam Aron’s demand for control over stock tokens tied to AMC shares, arguing that public companies cannot veto third-party securities that reference their stock. Tenev said on CNBC’s Squawk Box on Wednesday that issuers retain control over the rights and obligations attached to shares they issue, but that authority does not extend to every financial instrument built […]
PayPal has extended the reach of its dollar-backed stablecoin into custom token issuance, with the PYUSDx developer platform now supporting three live projects and more than $100 million in processed volume. PYUSDx allows businesses and developers to create their own branded onchain tokens while using PayPal USD, or PYUSD, as the economic foundation. M0 built the platform’s programmable infrastructure, while MoonPay Digital Assets Limited handles issuance and […]
Arabian Post Staff -Dubai Dubai Municipality has signed a cooperation agreement with Singapore’s BCA International after a high-level visit focused on modern building methods, green construction, digital technologies and regulatory practices that could support Dubai’s expanding built environment. The delegation, led by Director-General Marwan Ahmed bin Ghalita, concluded the official visit after meetings with government bodies, construction specialists and technology companies, alongside site inspections examining how Singapore […]
Arabian Post Staff -Dubai The United Arab Emirates has strongly condemned Iran’s missile attack on Jordan, declaring it a flagrant violation of the kingdom’s sovereignty and a threat to its security and stability. The UAE Ministry of Foreign Affairs said on Wednesday that Abu Dhabi stood in full solidarity with the Hashemite Kingdom of Jordan and supported all measures taken to safeguard its security and stability. The […]
Arabian Post Staff -Dubai Schools across the UAE have tightened student appearance, clothing and food rules for the 2026-27 academic year, barring certain shaved hairstyles, hoodies and energy drinks on campus. Circulars sent by a number of public and private schools to pupils and parents set out restrictions covering grooming, uniform standards and food brought onto school premises. The rules apply from the time students enter the […]
Arabian Post Staff -Dubai Mashreqbank has raised $500 million through a five-year US dollar-denominated senior unsecured bond, with the pricing spread tightened to 115 basis points over US Treasuries as investor demand supported the transaction. The Dubai-based lender completed the Regulation S offering under its $5 billion Euro Medium Term Note programme after mandating a group of international and regional banks for investor calls earlier this week. […]
Arabian Post Staff -Dubai Several US combat aircraft were damaged when Iranian ballistic missiles struck Muwaffaq Salti Air Base in Jordan, with about eight F-15 fighters sustaining light damage and returning to service, according to people familiar with the damage assessment. An A-10 Thunderbolt II attack aircraft was hit severely and left with major wing damage, the assessment indicated. The extent of repairs required for that aircraft […]
