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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.

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.

Expanding satellite and hybrid IoT connectivity services across the Belt and Road Regions

HONG KONG SAR – Media OutReach Newswire – 9 September 2026 – HKT (SEHK: 6823) – PCCW Global, the international telecommunications service provider under HKT, and Druid Technology Co., Ltd. (Druid Technology), a Chinese mainland provider of intelligent IoT solutions, today signed a Memorandum of Understanding (MoU) at the 11th Belt and Road Summit in Hong Kong. Under the MoU, the two companies plan to jointly deliver one-stop IoT solutions that combine satellite and hybrid connectivity in the Chinese Mainland, Hong Kong, Macao, and Belt and Road regions.

As a provider of intelligent IoT terminals and solutions, Druid Technology will leverage its expertise in device design, multi-network adaptation, data processing and platform integration, together with PCCW Global’s worldwide network services including roaming and cellular IoT to deliver one-stop, ready-to-deploy IoT solutions based on satellite and hybrid (satellite and cellular) connectivity. These solutions will support IoT applications such as remote tracking and monitoring for sectors including transportation, logistics, livestock farming and environmental management in remote locations and areas beyond the reach of conventional terrestrial networks.

Frederick Chui, CEO of PCCW Global, said: “PCCW Global is committed to delivering reliable connectivity and technology solutions through our extensive global network infrastructure. We are delighted to collaborate with Druid Technology and combine its expertise in intelligent IoT solutions with our own capabilities to strengthen our offering of one-stop IoT solutions for enterprise customers in both public and private sectors. Through this collaboration, we look forward to advancing the adoption of satellite and hybrid IoT solutions across Belt and Road markets, helping to meet the growing demand for reliable IoT connectivity and end-to-end solutions in remote and cross-border environments.”

Li Guozheng, Founder and CEO of Druid Technology, said: “We are pleased to become an integrated solutions provider for PCCW Global. By combining Druid Technology’s full-stack capabilities in intelligent IoT terminals, multi-system integration and physical world AI with PCCW Global’s leading global network infrastructure, we will provide customers with more comprehensive one-stop IoT solutions. We believe this collaboration will enable customers to deploy intelligent IoT applications more quickly and reliably, even in remote locations and other challenging environments.”

The solutions will cover terminal devices, network connectivity, data management and technical support. Leveraging its extensive global operational experience, PCCW Global will help accelerate the deployment of the solution across Chinese Mainland, Hong Kong, Macao, the Belt and Road regions and global markets.

Hashtag: #HKT #PCCWGlobal

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About PCCW Global

PCCW Global is a leading digital infrastructure provider, empowering businesses with agile, scalable and secure connectivity solutions. By combining a best-in-class network with our award-winning on-demand platform Console Connect, we help businesses navigate the network complexities of the digital world with ease. With extensive reach across international markets, we make it simple to connect and move data between clouds, apps, data centres and devices. At the core of our business is a belief that automated, high-performance network infrastructure has the power to elevate business and society. For more information, visit www.pccwglobal.com.

From popular styles such as fades, undercuts and hair tattoos to services including shampooing, facial shaving, ear cleaning and massage, the brand aims to create a personalized grooming experience.

Its stores also feature greenery, bookshelves and relaxation areas, turning a haircut into a genuine moment of leisure.

Today, East West Barbershop operates more than 130 branches globally, with over 1,000 employees.

Behind these figures remains a simple ambition: To take Vietnamese barbering further through the skill and dedication of its barbers.

East West Barbershop’s European journey is more than opening another store. It demonstrates that a Vietnamese brand can enter international markets through craftsmanship, professionalism and a distinctive identity.
Hashtag: #EastWestBarbershop

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The annual GII ranking evaluates innovation activity through three core metrics: international patent filings via WIPO’s Patent Cooperation Treaty (PCT), scientific publications and the number of venture capital deals. For this year’s ranking, the Shenzhen-Hong Kong-Guangzhou cluster filed 2,259 PCT applications, published 4,060 scientific articles and had 138 venture capital deals, all per 1 million inhabitants over the past five years.

Welcoming the announcement, a spokesman for the Hong Kong Special Administrative Region (HKSAR) Government said the ranking reaffirms the outstanding innovative capacity and the innovation and technology (I&T)-supporting financing ecosystem of the GBA.

“Expediting I&T development has been a policy priority of this Government,” the spokesman added, highlighting the HKSAR Government’s continuous development of the original grant patent system and introduction of the patent box regime, which offers tax concessions for intellectual property income to promote innovation.

The HKSAR Government’s strategic investments are already yielding tangible results. The number of start-ups in Hong Kong has surged from over 1,500 in 2015 to more than 5,200 in 2025. The city’s two I&T flagships—Hong Kong Science Park and Cyberport—have collectively nurtured around 20 unicorns to date.

A landmark development in this trajectory is the official opening of the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone (the Loop Hong Kong Park) in December 2025. Over 100 technology enterprises and institutions have already signed leases and begun moving in. The Loop Hong Kong Park is poised to serve as an important platform for basic scientific research, commercialisation, pilot production, and international I&T collaboration within the GBA.

Furthermore, the establishment of the San Tin Technopole Company Limited in June 2026 is set to develop 210 hectares of I&T land in the San Tin Technopole, which is located in Hong Kong’s Northern Metropolis development. It will create a vital node for integrated upstream, midstream and downstream industrial development, alongside the Loop Hong Kong Park.

Hong Kong’s financial machinery remains a cornerstone of its innovation success. The city boasts a vibrant private equity market with assets under management nearing US$250 billion, ranking second in Asia after the Chinese Mainland.

Looking ahead, Hong Kong will proactively align its strategy with the National 15th Five-Year Plan to fortify its position as an international I&T centre. The city will also further deepen collaboration with GBA sister cities, and contribute to the nation’s efforts in building a modern industrial system and achieving high-level scientific and technological self-reliance and strength.

Hashtag: #HongKong #Shenzhen #Guangzhou #InnovationCluster #Top #GBA #I&T

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New ULTRA KYC™ capability helps law firms move beyond document collection to evidence-linked customer due diligence

SINGAPORE – Media OutReach Newswire – 9 September 2026 – Amid continued scrutiny of anti-money laundering and countering the financing of terrorism (AML/CFT) practices across Singapore’s legal sector, iCOMPASS today launched Evidence-Backed AML/KYC, a new capability within ULTRA KYC™ designed to help law firms demonstrate not only that customer due diligence (CDD) was performed, but also the evidence supporting key customer information, risk assessments and decisions.

The launch comes amid continued regulatory attention on AML/CFT controls in the legal sector. Reviews following Singapore’s 2023 money-laundering case have highlighted shortcomings including inconsistent risk assessments and incomplete enhanced due diligence. For law firms, the challenge is increasingly not simply whether the required documents have been collected, but what was verified, what evidence was relied upon and how the resulting decision was reached.

The Evidence-Backed AML/KYC capability shifts the KYC workflow from document-first to evidence-linked. Key CDD information can be connected directly to the supporting evidence relied upon. For example, information relating to a client’s source of wealth, beneficial ownership or address can be linked to the relevant supporting documents, together with the associated review and approval record. This provides a clearer audit trail from the information verified, to the evidence relied upon, to the decision made.

“One of the practical challenges in KYC is ensuring the reasoning behind a decision remains clear when another person reviews the file later. With iCOMPASS’ KYC solution, having the underlying information and evidence connected in one place makes that review more efficient, while also creating a smoother onboarding experience for the client,” said Mr Wilson Foo, Joint Managing Director of Folich LLC.

The capability sits within ULTRA KYC™’s broader onboarding and lifecycle management workflow, which supports electronic verification for Singapore clients, digital identity verification for overseas clients, document collection, screening, risk assessment, approvals, and ongoing KYC refresh and reassessment.

“Law firms don’t need more KYC paperwork — they need better KYC evidence,” said Raymond Moh, CEO of iCOMPASS. “A strong KYC record should allow someone reviewing the file months or years later to understand what was verified, what evidence was relied upon and why the firm reached its decision. That is what we are trying to make much easier.”

Evidence-Backed AML/KYC forms part of ULTRA KYC™’s integrated 6-in-1 KYC/AML workflow, bringing onboarding and CDD, screening, risk assessment, approval, ongoing monitoring and reassessment into one connected process.

iCOMPASS will demonstrate the new capability at TechLaw.Fest 2026 on 9–10 September. The company will also speak on “The KYC File Is Not the Answer — Are Law Firms Doing KYC Backwards?” on 9 September, exploring how law firms can move towards more evidence-driven KYC and operationalise AML/CFT requirements in practice.

Hashtag: #iCOMPASS #TechLawFest2026 #ULTRA #RegTech #ULTRA #KYC #AML #Singapore

https://www.icompass.ai
https://www.linkedin.com/company/i-compass/

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About Company

iCOMPASS Pte. Ltd. is a Singapore-headquartered RegTech company modernising regulatory compliance through intelligent automation. SOC 2 Type II attested and ISO/IEC 27001 certified, iCOMPASS develops AI-powered solutions that help financial institutions and professional services firms manage compliance more efficiently, securely and consistently.

Its portfolio includes the ULTRA KYC™ Platform, featured in the Monetary Authority of Singapore’s PathFin.ai programme, and ULTRA™, an AI-powered compliance operating system. iCOMPASS was also named a winner at the Singapore Business Review Technology Excellence Awards 2023 in the Regulatory Technology category.

iCOMPASS is focused on advancing trusted, technology-enabled governance and helping regulated organisations navigate increasingly complex regulatory requirements.

AMAP Platform, Alibaba’s global provider of spatial intelligence and location-based solutions, joined the conference to share its technologies and real-world applications in global location services and spatial intelligence with businesses and developers from Thailand and around the world.

At the event, AMAP Platform’s Head of Overseas Business presented the company’s global strategy for spatial intelligence and highlighted solutions across key industries, including two-wheeler mobility, logistics and delivery, and travel.

For two-wheeler mobility, AMAP Platform provides multilingual POI search, motorcycle route planning, restricted-road avoidance, ETA estimation, and navigation, helping businesses deliver smarter and more efficient mobility experiences.

For logistics and delivery, location services support key stages across the delivery lifecycle, from order planning and delivery operations to network optimization, helping businesses improve delivery efficiency and operational decision-making.

For travel, multilingual POI search, multimodal route planning, and real-time navigation support a seamless journey from destination discovery to on-the-go navigation.

AMAP Platform is also expanding spatial intelligence into a broader range of industries, including e-commerce and AIoT. Through standardized, easy-to-integrate location services, AMAP Platform enables businesses worldwide to embed mapping and spatial intelligence into their products and operations, unlocking new opportunities for business growth and AI-powered industry innovation.

Hashtag: #AMAPPlatform

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