Prime Minister Narendra Modi is hosting the BRICS summit in New Delhi with Russia and China displaying a closer strategic alignment, adding pressure to India’s effort to preserve strong ties with Moscow while managing a cautious thaw with Beijing and maintaining partnerships with the West. Russian President Vladimir Putin met Modi on Friday, a day before the leaders’ summit, and the two reviewed cooperation spanning trade, defence, […]
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 […]
OpenAI has temporarily stopped new sign-ups and upgrades to its $200-a-month ChatGPT Pro plan after demand for its GPT-6 Astra model put heavy pressure on computing capacity. The company confirmed that the restriction took effect on September 10 and applies specifically to the Pro $200 tier, also described in its support material as Pro 20X. Existing subscribers on that plan remain unaffected, while the lower-priced Pro $100 […]
Two decades after its first projects broke ground on reclaimed industrial land and riverbank outside Hanoi, Vinhomes, anchored in the wider Vingroup ecosystem and its “ESG++” environmental standards, is positioning itself to help define what a good city looks like for the decades ahead.
Building Cities as Integrated Ecosystems, Not Just Developments
The first Vinhomes projects rose on difficult ground, but their premise was unusual for its time: that a residential development had to fold an entire urban life into a single, walkable proposition. Royal City and Times City were carved from former industrial land in Hanoi, while Vinhomes Riverside took shape on the far side of a river that once marked the edge of the city’s imagination. What set these projects apart was not their scale but their structural approach, schools, clinics, parks, transit, and commerce built in as foundations, not added on later.
That premise has held up. Vietnam’s cities have since become one of the region’s most closely watched growth stories. In 2025, the country drew more than $38 billion in registered foreign direct investment, with real estate the second-largest recipient sector after manufacturing. The capital is following the population, and the population is following the belief that Asian cities will decide what urban life looks like next. Research from the McKinsey Global Institute finds that roughly half of the world’s 600 largest cities by GDP are now in Asia, and that in most Asian countries, cities already generate more than 80 percent of national output.
Vinhomes’ answer to the challenge of urban sequencing has been structural rather than cosmetic, folding its projects into the wider Vingroup ecosystem. A housing development arrives already wired into education (Vinschool, VinUni), healthcare (Vinmec), retail (Vincom Retail), hospitality (Vinpearl, VinWonders), and green mobility (VinFast, V-Green, Green SM), with renewable energy and regional infrastructure now extending that network through VinEnergo and VinSpeed. The premise is that a city assembled this way behaves less like a real-estate product and more like an economy in miniature, one that generates its own demand for jobs, services, and further investment as residents move in.
From ESG++ Leadership to Global Expansion
The newer test for urban development is what a project is willing to leave alone. Vinhomes has framed its approach as “ESG++”, not merely limiting environmental damage, but actively restoring the ecosystems a project sits within. At Can Gio, Vinhomes Green Paradise is being built alongside one of Vietnam’s most significant mangrove systems, with construction is deliberately constrained to protect it. In Ha Long, Vinhomes Global Gate sits beside a UNESCO World Heritage Bay, built with the explicit aim of complementing rather than competing with the landscape.
This approach has drawn notice beyond Vietnam. Vinhomes Green Paradise became the first official global participant in New7Wonders’ “7 Wonders of Future Cities” initiative. Jean-Paul de la Fuente, the campaign’s director, described visiting the project as an encounter with a place where nature, people, and technology converge in ways he had not anticipated from the paperwork alone, adding that few developers anywhere have the execution capacity to build at this scale and speed while still managing that complexity.
The company’s ambitions now extend well beyond its home market. Vinhomes has projects and development plans in Congo, India, Australia, the Philippines, and Indonesia, less an export of a real-estate model than an attempt to carry two decades of Vietnamese urban experience into markets asking the same questions Vietnam once asked itself. For most of the modern era, Vietnamese cities absorbed standards and formats tested elsewhere; that posture is shifting, and not only inside Vietnam.
The data points to a single conclusion: the next several decades of urban growth will be decided in Asia, whether or not Asian developers are ready to define its terms. The United Nations’ World Urbanization Prospects 2025 puts the scale of that growth beyond dispute, cities are now home to 45 percent of the planet’s 8.2 billion people, more than double the share in 1950, with two-thirds of all future population growth through mid-century expected to land in urban areas. The number of megacities has quadrupled since 1975, from eight to 33, and more than half of them sit in Asia. Capital is already voting with its feet, and McKinsey’s research suggests the economic weight has shifted, even if global recognition has not yet caught up.
What Vinhomes is proposing, in effect, is that the second half of that shift, reputation, precedent, the standing to say what a good city looks like, is still being written. Twenty years on from a stretch of marshland and disused factory yards outside Hanoi, the argument is no longer really about towers. It is about whether a place built quickly can still be built to last, for the people living in it and for the land it stands on.
Hashtag: #Vinhomes
The issuer is solely responsible for the content of this announcement.
Vinhomes is Vietnam’s largest residential real estate and integrated township developer. The company pioneers the development of synchronized, modern large-scale townships, delivering premium living standards and unlocking sustainable investment opportunities for domestic and international clients. 
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 […]
By Dr. Gyan Pathak With all talks between the United Forum of Banks Unions (UFBU) and Indian Banks’ Association (IBA), Department of Financial Services (DFS), and Central Labour Commissioner under the Union Ministry of Labour and Employment failed, the Public Sector Banks in India have issued alerts for possible disruption of banking operations during all […]
The article Banks issue alerts: Operations may face disruption on Sep 11 appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).
FirstRand’s full-year earnings fell as provisions tied to its UK motor finance business offset strong growth across its core operations in South Africa and the rest of Africa. The financial services group said earnings on its previously reported basis declined 5% to R39.7 billion for the year ended June 30, 2026, after it booked an additional provision linked to potential customer redress in Britain. Return on equity […]
Cybercriminals behind the Gigabud Android banking trojan are using a weaponised app-cloning tool to isolate fraudulent banking activity from malware alerts, according to research published by Group-IB on September 9. The cybersecurity company said Gigabud is being paired with Vwork, a modified fork of the open-source Android application Shelter, to create a separate Work Profile and place banking applications inside it. Group-IB attributed both Gigabud and Vwork […]
The offer will now comprise up to 126.44 million shares, down from about 148.91 million in the draft prospectus, according to the red herring prospectus dated September 10. The price band has been fixed at Rs 1,700 to Rs 1,785 a share, valuing NSE at as much as roughly Rs 4.42 trillion.
At the top of the band, the offer could raise about Rs 22,568 crore, compared with roughly Rs 26,580 crore had the original number of shares been sold at the same price. The transaction is entirely an offer for sale, meaning NSE will not receive proceeds and no fresh shares will be issued.
The revised structure follows concern among prospective investors about whether the exchange could sustain the growth rates that supported higher valuation expectations before tighter rules cooled activity in its lucrative derivatives business. An earlier marketed range of about Rs 2,000 to Rs 2,100 a share would have implied a valuation of as much as Rs 5.26 trillion.
Several large shareholders have reduced the number of shares they plan to sell. State Bank of India cut its proposed sale to about 15.97 million shares from 24.75 million, while Bank of Baroda, Indian Bank and other institutional holders also lowered their offers. SBI Capital Markets was added as a selling shareholder with nearly 8.8 million shares.
Other investors, including Canada Pension Plan Investment Board and ICICI Lombard General Insurance, retained their proposed sale quantities. The changes reduce the stake being offered to about 5.2 per cent of NSE’s equity from the 6 per cent envisaged in the draft prospectus.
The downsizing comes as investors scrutinise the exchange’s dependence on derivatives activity. NSE derives a substantial share of its revenue from options trading, where volumes have weakened after the Securities and Exchange Board of India introduced measures aimed at curbing excessive speculation and reducing risks for retail participants.
Options trading volumes on the exchange fell more than 12 per cent from a year earlier in August, adding to questions about the pace of future transaction-related revenue growth. Those concerns have been balanced by NSE’s strong profitability and dominant position in cash equities and derivatives.
For the quarter ended June, NSE reported a 6.7 per cent increase in net profit to about Rs 3,120 crore, while revenue rose roughly 13 per cent to Rs 4,560 crore. The figures give prospective investors a clearer view of the exchange’s earnings power as they assess the lower offer price.
The public offer is scheduled to open on September 17 and close on September 21, with anchor investors expected to bid a day earlier. A listing is expected around September 24, subject to completion of the offer process and final regulatory requirements.
The timetable follows regulatory clearance that removed a key obstacle to the listing. The Securities and Exchange Board of India approved the IPO prospectus on September 4 after NSE moved to settle long-running disputes linked to allegations of unfair access to its trading systems.
The Supreme Court also dismissed the market regulator’s appeal in the co-location matter after the parties indicated that a settlement had been reached. NSE had agreed to pay about Rs 1,491 crore to resolve the case, allowing the listing process to advance without that litigation hanging over the issue.
The reduced transaction will no longer challenge Hyundai Motor India’s 2024 flotation for the record as the country’s largest IPO by proceeds. Hyundai raised about Rs 27,870 crore, while NSE’s offer is expected to be worth about Rs 22,500 crore at the top of its announced price band.
According to the Ministry of Manpower (MOM), entry-level professional, managerial, executive and technician (PMET) openings increased from 32,500 in December 2025 to 32,800 in March 2026, despite an overall decline in job vacancies. MOM also reported that around nine in 10 university graduates from the 2025 cohort found employment within 12 months of graduation, suggesting that fresh graduate employment has remained relatively resilient.
Financial services, professional services and technology remain active hiring sectors
Financial and Insurance Services, Professional Services, and Information and Communications were among sectors identified by MOM as experiencing active PMET hiring and wage growth. Together, these sectors recorded approximately 14,200 PMET vacancies as of September 2025, compared with 12,600 a year earlier, including roles suitable for fresh graduates.
Opportunities span finance, risk, compliance, accounting, consulting, software, systems and data functions. Increasing digitalisation also means these boundaries are becoming less distinct, with banks and professional services firms increasingly recruiting technology and data talent.
Information and communications continue to require digital capabilities
Singapore’s technology workforce reached 214,000 in 2024, according to the Infocomm Media Development Authority’s Singapore Digital Economy Report 2025, with AI and Data and Cybersecurity among the fastest-growing technology occupations. The latest MOM data also shows concrete entry-level demand. As at March 2026, Information and Communications recorded 200 vacancies for software developers, 130 for IT support technicians and 80 for computer engineers among its entry-level jobs with higher vacancy counts.
Technology graduates are therefore finding opportunities not only within technology companies but also across finance, manufacturing, professional services and other industries.
Financial and professional services are evolving with technology
Singapore’s financial sector continues to provide opportunities across banking, insurance, investment, risk and compliance. As at March 2026, MOM identified financial compliance officer or risk analyst, insurance sales agent or broker, and financial or investment adviser among the entry-level Financial and Insurance Services roles with higher vacancy counts, with 30 vacancies recorded for each occupation. Technology is also changing the nature of financial services, with institutions applying analytics, automation and AI across areas such as fraud detection, customer service and risk management.
Professional Services provides opportunities across both corporate and technical functions. MOM’s March 2026 data identified 100 vacancies for resident technical officers, 60 for auditors and 50 for IT support technicians among the sector’s entry-level jobs with higher vacancy counts. As AI increasingly assists with research, analysis and routine processes, graduates who combine professional knowledge with digital capabilities, communication and judgement may be better positioned for changing roles.
Healthcare and social services continue to offer graduate pathways
Health and Social Services continues to provide entry-level opportunities for graduates. As at March 2026, MOM identified 210 vacancies for social workers, 190 for registered nurses and other nursing professionals, and 80 for social work associates among the sector’s entry-level jobs with higher vacancy counts. These roles demonstrate that graduate demand extends beyond digital careers. Specialised professional knowledge and interpersonal skills remain important in sectors where human interaction and service delivery are central.
AI is changing entry-level roles rather than simply removing them
Generative AI has raised concerns among students and parents about its impact on graduate employment. MOM data presents a more nuanced picture. Among firms that had adopted AI, 6 per cent reported reducing headcount and 8 per cent lowering hiring activity, while 19 per cent redesigned roles and 14 per cent created AI-related jobs. The impact of AI has therefore been more visible in job redesign than broad-based hiring reductions. Fresh graduates may increasingly be expected to use AI tools, interpret data, assess AI-generated information and focus on areas requiring judgement, communication and problem-solving.
Skills-based hiring is changing how graduates compete
Employers are also looking increasingly beyond qualifications alone. MOM’s Job Vacancies 2025 report found that academic qualifications were not the main consideration for 79.6 per cent of vacancies.
This places greater emphasis on what graduates can demonstrate alongside their qualification, including internships, technical capabilities, communication, teamwork and analytical thinking. For students choosing a degree, employability is therefore not only about entering a growing industry but also about developing skills and experience that employers value.
SIM graduate outcomes reflect employment across diverse industries
Graduate employment data provides another way for students and parents to assess career outcomes. According to the Private Education Institution Graduate Employment Survey 2024/2025, 81.0 per cent of SIM fresh graduates surveyed secured employment, while 47.0 per cent were in full-time permanent employment. The median gross monthly salary was S$3,565. Across all private education institutions surveyed, 78.9 per cent of fresh graduates secured employment, with a median gross monthly salary of S$3,500.
SIM’s Graduate Employment Survey also shows graduates entering sectors including banking and financial services, ICT and cybersecurity, consulting and professional services, aviation and engineering, healthcare and social services, logistics and transportation, retail and manufacturing. Employment outcomes remain dependent on factors including programme choice, individual skills, work experience and labour-market conditions.
Parents can consider employability alongside programme fit
For parents supporting higher education decisions, current hiring trends provide useful context, but today’s strongest industry may not necessarily offer the greatest opportunities several years from now. A broader assessment can include a student’s interests and strengths, programme curriculum, awarding university, recognition, fees, career support and graduate employment outcomes.
The SIM Parent Resource Hub brings these considerations together, covering degree pathways, programme recognition, fees and financial support, student care and graduate employability. Its Graduate Outcomes & Employability resource provides information on SIM’s PEI Graduate Employment Survey results, industries and organisations where SIM graduates have worked, and career and internship support available to students.
These resources can help parents consider not only where jobs are available today, but how a higher education pathway can help their child develop relevant knowledge, experience and transferable capabilities.
Career resilience increasingly depends on transferable skills
Singapore’s labour-market data shows that opportunities for fresh graduates remain spread across multiple industries. Financial Services, Professional Services and Information and Communications continue to offer professional opportunities, while Healthcare and Social Services, also show meaningful entry-level demand.
For students entering higher education, career preparation may therefore be less about identifying one “future-proof” industry and more about developing disciplinary knowledge, practical experience and transferable skills that can remain valuable as employment needs change. Parents and students can refer to the SIM Parent Resource Hub, including its Graduate Outcomes & Employability resource, when evaluating degree pathways, employability, recognition, fees and student support.
References
Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills
The issuer is solely responsible for the content of this announcement.
SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 17,000 full- and part-time students and adult learners, of which approximately 41% are international students hailing from over 50 countries.
SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.
For more information on SIM Global Education, visit www.sim.edu.sg
Mr. Irwin founded Rosseau Asset Management Ltd. in 1998, following several successful years in proprietary investing at Deutsche Bank Canada. Rosseau’s flagship fund, Rosseau LP, was established on December 31, 1998 and has earned a strong reputation for investment performance and disciplined, research-driven decision-making. In his time at Rosseau, Mr. Irwin has had extensive experience investing in offshore oil projects off the coasts of South America and Africa, and onshore projects throughout the world.
Prior to founding Rosseau, Mr. Irwin’s experience also includes corporate finance and mergers and acquisitions at CIBC Wood Gundy, credit analysis and fixed-income management at Scotia Capital Markets, and proprietary trading at Deutsche Bank Canada. Mr. Irwin holds a Bachelor of Mathematics from the University of Waterloo, is a Chartered Financial Analyst (CFA) and holds a Masters of Business Administration from the University of Western Ontario.
“Warren’s extensive financial, investment and capital-markets background along with his passion for offshore oil exploration will be a significant asset to Colossal Energy Fields,” said Curtis Cohen, Chairman of the Board of Directors of Colossal Energy.
“His analytical mindset, discipline, governance and professionalism will greatly strengthen funding resource opportunities, as well as capital allocation and long-term shareholder value.”
Colossal Energy’s commitment to sustainable, inclusive growth shines brightest in nations where its investments in energy access, community empowerment, and equitable development directly advance energy equity for all.
Hashtag: #ColossalEnergyFieldsCorp.
The issuer is solely responsible for the content of this announcement.
Colossal Energy Fields Corp is a Canadian oil and gas exploration company focused on exploration and production opportunities in Africa. Proven Upstream Pedigree. Colossal Energy has deep expertise in exploring offshore opportunities and developing near-to-producing field opportunities.
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).
PARIS, FRANCE – Media OutReach Newswire – 10 September 2026 – More than one in three (38%) people remains offline despite being covered by mobile broadband – and a lack of digital literacy skills is often to blame, according to new research published today.
The new report, “Bridging the Divide: Enhancing Digital Literacy in the AI Era,” authored by GSMA Intelligence and produced in collaboration with Huawei, identifies a digital divide impacting 3.1 billion people caused by a shortage of digital skills, user trust and AI literacy.
AI raises both access and risk
Existing industry projections suggest closing the capability gap could add around $3.5 trillion to global GDP by 2030, with more than 90% of those gains flowing to low- and middle-income countries (LMICs). Physical mobile broadband coverage currently reaches 96% of people worldwide.
The report, unveiled at UNESCO’s Digital Learning Week, suggests artificial intelligence could act as both a bridge and a barrier for underserved communities. AI-powered voice assistants and applications that work with images, audio and video can all help low-literacy users bypass the need to input text. At the same time, they raise the security and critical-thinking standards required to participate safely. However, the study warns that users must now be able to understand data privacy and identify risks such as fraud and deepfakes.
The research cites World Bank statistics that GenAI literacy represents the highest-value skill category, with wage premiums up to 36%, far exceeding returns for both digital and traditional AI skills.
Without targeted interventions in basic digital training, the authors warn, rapid AI adoption risks entrenching existing inequalities even in areas with full network coverage.
Mobile classrooms build skills in remote areas
Digital inclusion initiatives typically target those most at risk of digital exclusion, including rural and remote communities, children and teachers in rural schools, older people, and women and girls.
The report emphasizes the need for community-based delivery models, citing Huawei’s Skills on Wheels initiative as a field-tested example — particularly its solar-powered DigiTruck mobile classrooms, which bring hardware, rural connectivity and hands-on training, including AI literacy, to off-grid regions.
Since 2019, training courses delivered by Skills on Wheels projects have reached more than 130,000 people across 21 countries, with more people benefiting indirectly. DigiTruck trainers encourage trainees to share their new skills, which is shown to occur in practice. A report on DigiTruck by Kenya’s Ministry of Information, Communications and Digital Economy shows that 79% of DigiTruck trainees surveyed had passed on their newly acquired digital skills to family members and peers.
Policymakers urged to treat AI literacy as core infrastructure
To bridge the usage gap, the report urges policymakers, telecom operators and technology vendors to work together and focus on four priorities：
“Digital literacy can no longer be defined by static thresholds,” said Tim Hatt, head of research and consultancy at GSMA Intelligence. “Connectivity alone is insufficient — capabilities, system design and trust must evolve together. To capture this multi-trillion-dollar opportunity, stakeholders must integrate layered AI literacy directly into daily livelihoods through trusted community channels.”
“Mobile classrooms have demonstrated immense value in helping underserved populations break through physical and psychological barriers to technology,” said Gavin Allen, Executive Editor-in-Chief at Huawei. “We will continue working alongside local governments and industry partners to drive digital literacy, ensuring that no one is left behind as we transition into the AI economy.”
A new DigiTruck program will launch in France this autumn, covering several cities in the Île-de-France region and targeting low-income and underserved communities with digital skills training.
The full report is available on the GSMA Intelligence research portal:
https://www.gsmaintelligence.com/research/bridging-the-divide-enhancing-digital-literacy-in-the-ai-era
FAQ
Q1: What is the main purpose of this report?
A: The report analyzes the critical importance of enhancing digital skills in the AI era, highlighting digital literacy as a layered and evolving capability. It calls on all stakeholders to collaborate in accelerating global digital inclusion and skill development.
Q2: What does it mean for policymakers to treat “AI literacy as core infrastructure”?
A: It means shifting policy focus from just building physical base stations to funding human capabilities. The report urges governments to integrate baseline AI awareness, online security, and media verification into national qualification frameworks, treating digital skills as an essential public utility alongside electricity and broadband.
Hashtag: #Huawei
The issuer is solely responsible for the content of this announcement.
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 […]
Higher blood concentrations of tyrosine, an amino acid commonly sold in supplements marketed for focus and mental performance, have been associated with a shorter lifespan in men in a large UK Biobank analysis, although the study does not show that taking tyrosine supplements shortens life. Researchers examining 272,475 participants found that elevated circulating tyrosine was associated with increased all-cause mortality among men and, in genetic analyses designed […]
The caution comes after the Japanese currency surged to its strongest levels since February, helped by mounting conviction that the central bank will lift its policy rate at its September 17-18 meeting and by speculation that major domestic investors will shift more money out of overseas assets. The dollar fell below 153 yen this week before recovering some ground.
Barclays’ assessment challenges the increasingly bullish market view that the yen has entered a durable appreciation phase. The bank said the latest move has been driven by powerful expectations rather than a fully established change in capital flows or monetary policy, leaving the currency vulnerable if either catalyst disappoints.
Markets have moved close to fully pricing a quarter-point Bank of Japan increase to 1.25 per cent this month. Expectations strengthened after policymakers signalled greater concern over inflation and currency weakness. Board member Kazuyuki Masu said on Thursday that the central bank could be forced to raise rates more rapidly if underlying inflation accelerates, while stressing that decisions would depend on incoming data.
A survey of economists published this week also showed a broad expectation that the Bank of Japan will raise rates to 1.25 per cent in September, with further tightening projected during 2027. That outlook has encouraged investors to unwind positions built around Japan’s comparatively low borrowing costs and has increased demand for the yen.
The second pillar of the rally is the prospect that Japanese pension funds and other large institutions will direct more capital into domestic bonds and equities. Finance Minister Satsuki Katayama said in July that the government wanted pension funds, including the Government Pension Investment Fund, to make substantially greater investments in Japanese financial assets.
That statement triggered speculation that the GPIF, one of the world’s largest pension managers, could reduce its foreign exposure. Its portfolio stood at about 320.4 trillion yen at the end of June, with 25.59 per cent in domestic bonds, 24.48 per cent in domestic equities, 24.60 per cent in foreign bonds and 25.33 per cent in foreign equities, official data show.
A major change in those allocations could generate significant yen buying because foreign assets would have to be sold or currency exposure reduced. Rising Japanese government bond yields have strengthened the argument for keeping more capital at home. The 10-year government bond yield has reached levels not seen for decades, increasing the relative attraction of domestic fixed-income holdings.
Fitch Ratings said this week that higher Japanese yields could encourage banks, insurers and other institutional investors to retain more funds domestically. It also expects Bank of Japan policy rates to rise faster than markets had previously assumed, though it has not projected a wholesale withdrawal from overseas markets.
Evidence of repatriation has nevertheless remained mixed. The GPIF’s June-quarter figures showed domestic bond holdings rising in value while their portfolio share remained close to the fund’s 25 per cent strategic target. Foreign assets still accounted for roughly half of the portfolio, underscoring the scale of adjustment that would be required for pension flows to become a sustained source of yen demand.
The currency’s rise has also been reinforced by the unwinding of yen-funded carry trades, in which investors borrow cheaply in Japan to purchase higher-yielding assets elsewhere. Cross-border yen borrowing reached about 360 trillion yen in March, making abrupt changes in exchange-rate expectations capable of producing sizeable market moves.
The yen had fallen to around 164 per dollar in July before authorities in Japan and the United States intervened jointly in the foreign-exchange market. Its subsequent recovery accelerated this month as traders attached greater weight to tighter monetary policy and domestic capital repatriation.
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 […]
Artificial intelligence is widening the investment divide between the United States and Europe, with American companies absorbing the overwhelming majority of global AI venture capital while European firms continue to face shortages of large, late-stage funding. OECD data show US-based AI companies attracted about $194 billion in venture capital in 2025, roughly 75% of worldwide AI deal value. Companies across the EU27 drew $15.8 billion, or 6%, […]
The Philippines AI+ Infrastructure Masterplan 2026-2033, launched by the Department of Information and Communications Technology on September 8, sets an initial goal of deploying about 400 megawatts by 2030 from a baseline of roughly 50 MW. The programme is designed to combine public infrastructure spending with substantially larger private investment in computing capacity, power, connectivity, water systems and workforce development.
Information and Communications Technology Secretary Henry Aguda said two unnamed US hyperscale cloud companies are conducting due diligence on locations within the Bataan-Clark and Batangas-Aurora corridors. Each is considering about 200 MW of capacity over five years, but officials have stressed that the figures represent projects under evaluation rather than committed investments.
Aguda said the corridor approach is intended to shorten a site-selection process that can take hyperscalers six to nine months by mapping available land, electricity, connectivity and other requirements before investors make final choices. He said the companies have so far focused on Luzon, and no timetable has been disclosed for investment decisions.
The masterplan estimates that $13.5 billion, or 39 per cent of total funding, would come from public sources and about $21 billion, or 61 per cent, from private capital. Government officials said roughly $18.2 billion is already linked to existing national programmes, mainly in connectivity and energy, leaving an additional requirement of about $16.3 billion. AI compute and data centres account for the largest component, estimated at about $14.6 billion. No project auction has started, and Aguda said the masterplan itself is not funded under the 2027 national budget, though enabling power and water infrastructure may already be covered by broader government programmes serving the grid.
Gemma Baysic, officer-in-charge director of the National ICT Planning, Policy and Standards Bureau, said the strategy is intended to enable the country to build, host, power and support a larger AI ecosystem rather than remain principally a consumer of the technology.
Energy supply is a central constraint. Department of Energy Undersecretary Maria Francesca Del Rosario said planners estimate the infrastructure could support about 152,000 graphics processing units. The department expects natural gas to meet immediate additional electricity needs while aiming for renewable sources, including solar and geothermal power, to provide 40 per cent of the energy used by AI infrastructure by 2033.
Officials said additional generation must be developed without diverting electricity from households. The government is also examining nuclear energy as a longer-term option under the Philippine National Nuclear Energy Safety Act, although no nuclear capacity has been committed specifically to the data centre programme.
The roadmap identifies Clark-Bataan as the primary anchor for large-scale AI infrastructure, with Batangas-Aurora serving as a strategic international gateway. Subic and Calabarzon are designated supporting hubs, while Cebu, Iloilo, Davao and Cagayan de Oro are listed as future regional nodes as capacity expands beyond Luzon.
The plan also links infrastructure investment to labour-market objectives. It calls for reskilling 1.3 million workers in the information technology and business process management sector for AI-enabled services. Government projections envisage more than 500,000 AI-related jobs and a further 175,000 positions associated with AI infrastructure projects by 2033.
Those employment and economic estimates remain targets rather than assured outcomes. The masterplan projects that AI-linked productivity gains and new digital services could increase gross domestic product by 10 to 12 per cent by 2033, dependent on investment, infrastructure delivery, workforce adaptation and wider adoption.
The Asian Development Bank supported preparation of the masterplan. Winfried Wicklein, an ADB director general, described AI infrastructure as a national competitiveness and productivity priority, while emphasising that the launch marks the start of implementation rather than completion of the programme.
The currency came under pressure after Brent crude held above $100 a barrel amid continuing tensions in West Asia, reinforcing worries about higher energy costs for a country that imports more than three-quarters of its crude oil requirements. The rupee had settled at 95.1050 against the dollar on Wednesday after touching 95.2250 during the session.
Dealers said demand for dollars from oil importers, corporate debt repayments and hedging activity added to the pressure. State-run banks were also seen supplying dollars during trading, an action market participants associated with efforts by the Reserve Bank of India to limit excessive volatility in the foreign-exchange market.
Brent crude traded around $101-$102 a barrel during Asian hours after crossing the $100 mark on Wednesday. The move followed renewed military tensions involving the United States and Iran and heightened concern about shipping and energy supply through the Gulf, including routes linked to the Strait of Hormuz.
Higher oil prices are particularly significant for the rupee because petroleum imports are paid largely in dollars. A sustained rise in crude can widen India’s trade deficit, increase demand for foreign currency from refiners and add to inflationary pressure, creating a less favourable backdrop for the local currency.
The rupee has lost roughly 0.7 per cent over the previous two sessions, with traders saying the effect of higher oil prices has become more visible after the currency had initially shown resilience. The movement has also coincided with caution across Asian markets and pressure on domestic equities.
Benchmark share indices were subdued on Thursday after suffering sharp losses in the previous session. The Sensex had dropped 813.35 points, or 1.08 per cent, on Wednesday to close at 74,764.23, while the Nifty 50 fell 203.60 points, or 0.86 per cent, to 23,431.50. The sell-off reflected concern that expensive crude could complicate the inflation and growth outlook.
The Reserve Bank has intervened intermittently in the currency market during periods of sharp rupee weakness. Traders said dollar sales by state-run banks helped the currency recover from Wednesday’s intraday low, although market participants expected central-bank support to restrain volatility rather than reverse pressure created by oil prices and capital flows.
Foreign-exchange dealers were also monitoring overseas portfolio movements. Expectations of capital outflows and demand linked to corporate payments have increased near-term dollar requirements, while the dollar index remained close to 99 against a basket of major currencies, offering only limited relief to emerging-market currencies.
The rise in crude has revived concern over India’s external balances. A higher oil import bill can feed into the current-account deficit if export earnings and other inflows do not offset the additional cost. It can also increase costs for transport, manufacturing and other energy-intensive sectors, depending on the extent to which international prices are passed through domestically.
Domestic fuel prices have so far remained comparatively insulated from the latest jump in international crude, but refiners and oil-marketing companies face greater pressure when global prices rise sharply while retail prices are unchanged. That gap can affect corporate margins and, if sustained, increase the broader fiscal and inflationary policy challenge.
Bond and equity markets are also watching the oil move for its implications for monetary policy. Higher imported energy costs can make inflation management more difficult, while weaker risk appetite may intensify foreign portfolio selling. Traders said those factors could keep the rupee volatile even if the central bank continues to provide dollar liquidity during periods of disorderly movement.
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