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SwissBorg has lost about $41 million worth of Solana after a breach in a third-party API linked to its staking partner Kiln, which facilitated its SOL Earn programme. The incident affected fewer than 1% of users and represented roughly 2% of SwissBorg’s total assets under management.

The vulnerability originated in Kiln’s API — the software interface SwissBorg uses to communicate with Solana’s staking network. By exploiting that interface, attackers manipulated staking requests tied to the SOL Earn product and diverted approximately 192,600 SOL to an external wallet. SwissBorg and Kiln stated that the main SwissBorg app and all other Earn products remain secure. SwissBorg has paused Solana staking transactions while investigations continue.

SwissBorg CEO Cyrus Fazel described the event as “a bad day,” assuring customers that operations remain stable. The company pledged to reimburse all affected users, confirmed it has sufficient treasury reserves to cover losses, and is working with law enforcement, white-hat hackers, and security firms to block stolen transactions and trace funds. Some transfers have already been intercepted, according to its statement.

Kiln acknowledged that the breach involved “unauthorised access to a wallet used for staking operations.” SwissBorg and Kiln jointly activated their incident response protocols upon detection, aiming to contain the damage.

Industry experts flag this as yet another example of how dependence on external service providers exposes crypto platforms to infrastructure-level risk. In recent years, comparable API and smart-contract vulnerabilities have been exploited across the sector, prompting calls for more rigorous audits and redundancy in trust relationships.

China has seen financial flows totalling about US$4.5 trillion, a figure that many analysts believe marks a turning point in how its markets are engaging with the world. The scale of cross-border investment—both inbound and outbound—is now surpassing trade in many respects, reflecting Beijing’s accelerating liberalisation efforts and a growing confidence among foreign and domestic investors.

The financial sum comprises equity, bond, and other capital movements, and corresponds with recent policy moves designed to reduce restrictions and open up China’s capital markets. One key driver is the Stock Connect programme, which allows mainland Chinese investors to purchase eligible Hong Kong–listed stocks and gives international investors access to A-shares. Southbound flows—money moving from mainland China into Hong Kong—have been especially significant, gathering close to US$100 billion within the first half of 2025. That alone matched the total stock in 2024 via that channel.

Yields on Chinese government bonds have hit highs not seen since late 2024, suggesting investors are now demanding greater returns, but also that they perceive risks such as inflation and currency pressures to be easing. The 10- and 30-year yields climbing indicates that institutions expect stabilization in key macro indicators, even if headline economic growth remains uneven. The bond market, however, has also become more volatile, driven by leveraged buying of equities and speculative pressure in certain sectors.

Another contributing factor is the behaviour of domestic institutional investors. With over 160 trillion yuan in household savings, China’s policy makers are encouraging pension funds, insurance companies, and sovereign funds to shift more capital into domestic equities. These kinds of flows reinforce the internal market strength, even as external capital enters or exits depending on global risk appetite.

Hong Kong’s IPO market has benefited greatly. Several major mainland firms—including tech and battery makers—have either listed in Hong Kong or signalled plans to do so. This has helped Hong Kong reclaim its spot among the world’s most active IPO hubs in 2025. The changes to listing rules, including shorter approval times for eligible mainland firms, have been essential in this revival.

European regulators are finalising a set of remedies with Abu Dhabi-based oil major ADNOC for its €14.7 billion bid to acquire chemical manufacturer Covestro, adjustments that aim to satisfy concerns under the EU’s Foreign Subsidies Regulation.

ADNOC is expected to convert a planned €1.2 billion capital increase into a shareholder loan bearing market terms. The move seeks to counter claims by the European Commission that the proposed capital equity injection could constitute unfair foreign aid under EU rules. In addition, ADNOC will likely address issues around an alleged unlimited state guarantee and commit to keeping Covestro’s intellectual property and technology within Europe.

The EU launched its formal investigation in July to assess whether UAE-based government support might distort competition in the internal market. Scrutiny has focused on whether ADNOC’s offer price, bolstered by state subsidies such as guarantees and capital injections, created an unlevel playing field. A regulatory deadline of 2 December looms for the European Commission’s final decision.

ADNOC has expressed frustration with the breadth of information requests from the Commission, describing them as “disproportionate and invasive.” The company warned that such demands could threaten the viability of its acquisition bid if not managed carefully.

Negotiations involve high level officials: ADNOC CEO Sultan Ahmed Al Jaber spoke with EU antitrust chief Teresa Ribera about the remedy proposals. ADNOC will likely mirror similar steps taken by UAE telecoms group e&, which recently prevailed in an EU review by eliminating an unrestricted state guarantee and following domestic bankruptcy statutes more closely.

Covestro, which produces materials used in insulation, automotive parts and consumer goods, would be one of the biggest acquisitions of an EU firm by a Gulf state if the deal proceeds. The transaction, announced in October, has drawn close attention for being ADNOC’s largest ever and for raising questions about foreign capital’s role in European markets.

Bybit has restored full access to its mobile app for users in India, marking a pivotal stage in its compliance efforts and reaffirming its long-term presence in the market. Access to its website is being reinstated in phases and is expected to be fully live within the next three to four days. This marks a strategic relaunch of services including spot trading, derivatives, options and copy trading, supported by enhanced Know Your Customer protocols and security measures.

The exchange began its compliance drive earlier this year by registering with the Financial Intelligence Unit-India as a reporting entity under the Prevention of Money Laundering Act in January 2025. That move followed a penalty of approximately INR 9.27 crore imposed for operating without proper registration. Services had trickled back in February for authorised users, but full restoration remained pending until now.

Bybit co-founder and CEO Ben Zhou said the company views this phase Bybit Restores Full Trading Access in India as more than a mere return—it signals a renewed chapter in its India operations. He emphasised India’s potential as a leading digital-asset market and reiterated the company’s commitment to delivering secure, transparent, world-class trading experiences. Vikas Gupta, Country Manager of Bybit India, described the moment as a landmark in providing Indian clients a seamless and compliant trading environment. He also spoke of broader ambitions to nurture India’s crypto ecosystem through education, strategic partnerships and community initiatives.

Legal counsel from Cyril Amarchand Mangaldas led Bybit’s regulatory realignment, navigating months of negotiations and product realignment to meet Indian norms and transaction-reporting requirements. The process has been framed as a model for other offshore platforms seeking a compliant pathway into India’s tightening regulatory environment.

Bybit has intensified its outreach in the Indian market, serving as title sponsor for the India Blockchain Tour 2025 and preparing for the next leg, “Metamorphosis – India Blockchain Tour,” in New Delhi on 27–28 September. The exchange has also unveiled its World Series of Trading 2025, offering welcome bonuses and prizes such as cars and smartphones to attract users.

India remains one of the world’s most dynamic cryptocurrency markets, despite stiff tax and regulatory hurdles—such as a 30 per cent tax on crypto gains and no comprehensive legal framework yet in place. The restoration of Bybit’s services under tighter compliance standards reflects its resilience and underscores the importance of regulatory alignment for offshore platforms.

Dubai Business Events secured the Association Development Award at the ICCA Middle East Summit, recognising its leadership in fortifying association capacity and fostering knowledge exchange across the region. The accolade was conferred by Fatima Bint Jaafar Al Sairafi, Bahrain’s Minister of Tourism, at Exhibition World Bahrain in partnership with the Bahrain Tourism and Exhibitions Authority.

At the summit, attended by more than 100 destination leaders and industry stakeholders from the region, the bureau’s commitment to advancing collaboration and sustainable development in the meetings industry was spotlighted. This recognition reflects its alignment with the Dubai Economic Agenda D33 and its mission to enhance the region’s global competitiveness in business events.

Dubai Business Events—part of the Dubai Department of Economy and Tourism—participated in a high-level panel discussion titled “The Future of Destination Leadership: Unlocking Regional Potential through Innovation, Inclusivity, and Sustainability,” alongside counterparts from Abu Dhabi, Bahrain, Oman and Jordan. The session highlighted how destinations across the Gulf are leveraging innovation, inclusivity and sustainable practices to shape the future of association meetings.

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, hailed the accolade as evidence of their strategic foresight. He emphasised that associations—regardless of scale or sector—play a pivotal role in Dubai’s growth by facilitating knowledge exchange, industry development and economic impact.

SriLankan Airlines has suspended services to Kathmandu after authorities closed Tribhuvan International Airport amid nationwide unrest, forcing cancellations on the Colombo–Kathmandu route and disrupting onward travel plans.

Airport officials said flight operations at Kathmandu would remain shut until the evening as security forces moved to stabilise the capital, while armoured patrols and curfews kept streets largely empty following two days of violent demonstrations. Airline pauses Kathmandu services amid escalating unrest.

Protests that began over corruption and economic grievances have turned deadly, with soldiers guarding parliament and key government buildings after arson attacks and clashes. Reuters reported at least 19 fatalities over 48 hours and said the turmoil prompted a nationwide shutdown affecting aviation, retail and public services.

Knock-on effects spread across regional air corridors. Multiple Kathmandu-bound flights were diverted to India, including four routed to Lucknow as the closure took effect, while IndiGo extended a temporary halt of services to and from Kathmandu to the early evening. Other carriers announced cancellations through the day as they assessed security and operational risks.

SriLankan confirmed the cancellation of flights UL181 and UL182 on Wednesday and advised ticketed passengers to contact their booking channels. Local news outlets in Colombo said the airline’s suspension would remain until further notice, aligning with guidance to monitor official updates as authorities reviewed conditions at the airport.

Regional governments urged caution for travellers. India advised its citizens to defer trips to Nepal and for those already in the country to remain indoors, as curfews and transport disruptions left tourists and business travellers stranded across Kathmandu Valley and beyond.

Live updates from Kathmandu indicated authorities were weighing phased resumptions of essential services alongside crowd-control measures. Airports and transport links were prioritised for restoration once security agencies deemed conditions manageable, with the army coordinating road clearance and fire response in affected districts.

Airlines across South Asia adjusted schedules through the afternoon, with Indian and regional carriers cancelling or retiming Kathmandu rotations while offering waivers. Public statements from operators noted the situation remained fluid and that customer notifications would follow as airspace and airport status changed.

SriLankan’s decision underscores how quickly a single-airport closure can ripple through a network heavily reliant on narrow time buffers and daylight slots into high-altitude hubs. For passengers booked to or through Kathmandu, carriers advised monitoring flight status pages and staying in contact with travel agents as curfew orders and airport operating hours evolve.

Bitcoin traded in a tight range near $111,500 to $112,300 as market participants paused, waiting for fresh cues from upcoming Consumer Price Index, Producer Price Index and central bank announcements. This positioning reflects prudence amid heavier macroeconomic noise.

Solana climbed to around $218 to $220, marking a multi-month high as renewed interest drew capital from more established tokens. Meanwhile, Dogecoin extended a weekly gain to approximately $0.24, buoyed by optimism surrounding the imminent debut of the first U. S. memecoin exchange-traded fund.

SignalPlus head of insights Augustine Fan noted that crypto markets have been relatively flat recently, with Bitcoin underperforming both its major peers and traditional assets such as equities and spot gold. That underperformance accompanied weaker inflows into digital asset trusts and reduced activity on centralised exchanges.

Economists have also dialled back inflation and recession worries following revisions to U. S. labour data, prompting some rebound in market sentiment. Bitcoin, alongside European equities, saw support as experts downplayed fears of stagflation.

Prediction markets suggest that a rate cut from the Federal Reserve is increasingly likely, with sentiment split between a further cut or a hold in October. Gold reached record levels in anticipation of looser monetary policy, even as U. S. equity indices pushed higher.

Positioning remains defensive, but the rotation into altcoins signals willingness among traders to explore higher-beta opportunities. Reflecting this, the phrase Traders Push Bitcoin Above $112K captures the shifting dynamic in crypto allocations—but notably, attention remains fixed on upcoming U. S. data releases shaping the next phase of the market.

Liquidity has stayed modest. Reference points in the $110K–$112K zone appear increasingly important as support amid a backdrop of uncertainty.