A UAE business delegation led by Foreign Trade Ministry Undersecretary Fahad Al Gergawi held talks with Russian companies at the Russian Industrialist International Forum and Exhibition in St Petersburg, seeking opportunities for investment, technology partnerships and industrial cooperation. The delegation attended the 30th edition of the forum, held from October 22 to 24, with support from the Russia-UAE Business Council and coordination with the UAE Embassy in […]
Mumbai’s benchmark stock indices declined on Tuesday as selling in information technology shares and elevated crude oil prices weighed on investor sentiment ahead of the US Federal Reserve’s monetary policy decision.
The 30-share BSE Sensex fell 0.16 per cent to 73,497.28, while the NSE Nifty 50 slipped 0.06 per cent to 22,738.55 during Tuesday’s trading. Losses were concentrated in technology stocks, although gains in several consumer and industrial companies helped contain the decline.
The Nifty IT index dropped approximately 1.8 per cent, making technology one of the weakest sectors. Infosys shares declined 2.8 per cent after the company lowered its revenue growth guidance for the financial year ending March 2027, prompting investors to reassess earnings expectations.
Other major technology companies also faced selling pressure. Tata Consultancy Services and HCL Technologies traded lower as investors examined the implications of weaker growth expectations for outsourcing companies dependent on overseas corporate spending.
Crude oil prices remained another concern. Brent crude hovered near $115 a barrel, close to its highest level in six months, following attacks on Saudi Arabia that intensified concerns about energy supplies and geopolitical tensions across West Asia.
Elevated petroleum prices present significant challenges for India’s economy because the country depends heavily on imported crude. Sustained increases can raise transportation and manufacturing costs, complicate inflation management and weaken profit margins for companies unable to pass additional expenses to customers.
Oil-sensitive businesses, including airlines, paint manufacturers, tyre producers and petroleum marketing companies, face particular exposure to changes in energy prices. Investors are monitoring whether higher input costs will affect corporate earnings during the current reporting season.
Attention has also shifted towards the Federal Reserve’s two-day policy meeting, which begins on Tuesday and concludes on Wednesday. Financial markets broadly expect the central bank to maintain its benchmark interest rate at 3.75 to 4 per cent.
The accompanying policy statement and remarks from Federal Reserve Chairman Kevin Warsh will be examined for indications of future interest rate adjustments, particularly whether persistent inflation could require additional monetary tightening.
Higher US interest rates can influence investment flows towards dollar-denominated assets, potentially reducing foreign portfolio investment in emerging markets. Changes in American Treasury yields and the dollar’s exchange rate therefore remain important considerations for domestic equities.
Ponmudi R, chief executive of Enrich Money, has identified elevated crude prices, geopolitical uncertainty and the Federal Reserve’s policy outlook as major influences on market sentiment. He has cautioned that tighter American monetary conditions could constrain foreign investment flows.
Tuesday’s weakness followed a recovery in the previous session, when the Sensex advanced 482.92 points to close at 73,606.75 and the Nifty gained 153.20 points to finish at 22,753.20.
Monday’s advance ended four consecutive sessions of losses, during which the Sensex had declined 2.15 per cent and the Nifty 2.36 per cent. The rebound reflected renewed buying in selected companies after the earlier market correction.
Despite Tuesday’s benchmark declines, broader market performance remained comparatively resilient. Small-cap shares gained approximately 1.7 per cent, while mid-cap stocks advanced around 0.5 per cent, indicating that selling pressure was not uniformly distributed.
Company-specific earnings developments also generated substantial movements. Tata Consumer Products rose approximately 5.9 per cent after reporting quarterly profits that exceeded market expectations, attracting buying interest despite the weakness in benchmark indices.
Automotive components manufacturer Sona BLW Precision Forgings advanced around 6.3 per cent following improvements in quarterly revenue and earnings. The gains demonstrated continued investor interest in companies delivering stronger operating results.
Astec Lifesciences, meanwhile, declined approximately 2.5 per cent after reporting lower quarterly profits, reflecting the market’s selective response to corporate financial disclosures.
Institutional investment patterns remained under scrutiny. Exchange data showed foreign portfolio investors sold shares worth approximately Rs 1,462.49 crore on Monday, while domestic institutional investors purchased equities valued at Rs 2,609.57 crore.
Domestic institutional buying helped support Monday’s recovery, although foreign investment decisions remain sensitive to international interest rates, currency movements and geopolitical developments.
Market participants are also awaiting September industrial production figures, scheduled for Wednesday, alongside further quarterly earnings announcements from major listed companies.
The October monthly expiry of Nifty derivatives contracts falls on Tuesday, adding another trading consideration as investors adjust outstanding positions before settlement.
By Ashok Nilakantan Ayers WASHINGTON: The final week of America’s 2026 midterm election campaign has become a high-stakes confrontation between President Donald Trump and a Democratic opposition seeking to turn voter dissatisfaction over the economy into control of Congress. Neither Trump nor former president Barack Obama is on the ballot. Yet both are criss-crossing the […]
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Cybercriminals are exploiting Instagram advertisements and neglected website tracking code to infect vulnerable iPhones with powerful spyware, according to a joint investigation by cybersecurity firms iVerify and Report URI, tracing attacks across social media and retail websites. The researchers identified multiple delivery routes for Coruna and DarkSword, two exploit kits capable of compromising devices and extracting sensitive information. Their findings, published on 21 and 22 October, show […]
Microsoft has opened a voluntary departure programme to approximately 60,000 employees across four countries, offering severance support as the technology group adjusts staffing across several major businesses. The initiative, announced on Monday, covers eligible workers in the United States, United Kingdom, Canada and India. It encompasses more than a quarter of Microsoft’s global workforce, although the company has not specified how many departures it expects. Amy Coleman, […]
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Anthropic has confirmed that its Claude artificial intelligence model obtained Georgia election statistics through a payment-restricted government dashboard without being instructed to do so, prompting new safeguards against unauthorised actions. The company said on Sunday that Claude retrieved aggregate vote counts during an internal statistics project. The information was publicly available for a fee, but the model independently requested an access token and used it to query […]
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Doug Liman’s cryptocurrency thriller Bitcoin, starring Gal Gadot, Isla Fisher, Casey Affleck and Pete Davidson, was presented to international buyers at the Cannes film market, with sales company 193 handling overseas distribution rights. The production, previously known as Killing Satoshi, centres on the disputed identity of Bitcoin’s creator and uses artificial intelligence to construct much of its visual environment. Patrick Wachsberger’s company 193 introduced the project to […]
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SINGAPORE – Media OutReach Newswire – 27 October 2026 – Singaporeans are more active than ever, spending an average of $150 per month on fitness activities. But as sport and exercise participation hits an all-time high, so does the risk of injury, and most people are not financially prepared for what comes after.
Singapore clinics have reported a twofold increase in pickleball-related injuries as the sport’s popularity surges across all age groups. ACL injuries among young athletes are on the rise, with rehabilitation timelines stretching nine to 12 months. Cycling accidents continue to result in serious fractures requiring extended hospitalisation leave.
Whether it is a weekend football match, a morning run with a crew, or an evening game of pickleball, the risk of an injury that keeps a working adult off their feet, and off the payroll, is higher than many realise.
Staying active is one of the best things Singaporeans can do for their health, but a single sports injury can undo months of financial planning. While health insurance covers the hospital stay, it does not replace lost income during the weeks or months of recovery at home. Mortgage payments, household expenses, and rehabilitation costs do not stop just because a pay cheque does.
Allianz Accident Protect Plus, a personal accident insurance plan starting from SGD $14.25 per month, is designed to close that gap. When an accident leaves someone unable to work, the plan pays a weekly cash benefit of up to SGD $200 for up to 104 weeks, even if they are recovering at home rather than in a hospital bed.
The plan also covers medical and surgical expenses of up to SGD $7,000 per accident, including physiotherapy, Traditional Chinese Medicine, and chiropractic treatments. For those who do require hospitalisation, a daily hospital income of up to SGD $200 for up to 750 days provides additional support. And because the policy covers injuries sustained through recreational and leisure activities, and accidents beyond the sporting arena, it offers peace of mind whether you are on the court, on the road, or simply going about your day.
Allianz believes that an active lifestyle should be a source of wellbeing, not financial worry. Allianz Accident Protect Plus gives customers the confidence to stay active, knowing that if an injury sidelines them, their finances do not have to be.
Coverage is subject to the terms, conditions, and exclusions of the Allianz Accident Protect Plus policy. Please refer to the Policy Wording for full details. This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). This advertisement has not been reviewed by the Monetary Authority of Singapore. Hashtag: #AllianzInsuranceSingapore
The issuer is solely responsible for the content of this announcement.
About Allianz Insurance Singapore Pte. Ltd.
At Allianz Insurance Singapore, we aim to secure the future and create a positive impact on society and the environment by leveraging our expertise in risk management. As we work toward strengthening our position as one of Singapore’s leading risk solutions providers, we deliver innovative and customer‑focused protection solutions for individuals, SMEs, and mid‑corporate clients – spanning Motor, Home Content, Travel, Personal Accident, Cancer, Hospital Income, and a comprehensive suite of commercial insurance offerings.
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The Keralam government will introduce legislation in the next Assembly session to regulate treatment costs in private hospitals, Health Minister K. Muraleedharan announced on Monday, October 26. Responding to Communist Party of India (Marxist) MLA K. N. Balagopal during Question Hour, the minister acknowledged growing…
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Joint study shows emerging markets will generate 60% of new online spending over the next decade — most of it from consumers without a credit card
SINGAPORE – Media OutReach Newswire – 21 October 2026 – Asia is projected to add 702 million middle-class adults between 2026 and 2036, three-quarters of all middle-class growth in emerging markets, according to a new study from World Data Lab (WDL) and EBANX, a global technology company specializing in payment services for emerging markets.
Emerging markets will add USD 8.7T in online spending by 2036
But this new consumer class will not shop the same way developed-market consumers do: by 2036, only 20% of adults in emerging markets will hold a credit card, against 66% in developed markets.
Global online spending is projected to grow from USD 11 trillion in 2026 to USD 25.6 trillion in 2036. Emerging markets add USD 8.7 trillion of that increase (60% of all new online spending), with China (USD +4.7 trillion) and India (USD +1.3 trillion) leading this growth. Indonesia (USD +243 billion), Brazil (USD +249 billion) and Mexico (USD +191 billion) form the next tier.
The categories matter as much as the markets. Online gaming spending in emerging markets grows 14% a year over the decade, the fastest of any category, and SaaS nearly 10%. Emerging markets will generate 76% of global growth in social media spending and 64% in SaaS.
The demographic picture challenges a common assumption. Consumers aged 45 and over account for 51% of emerging markets’ online spending growth through 2036, and spending by those aged 65 and over grows 12% a year, faster than any other age group.
The outlook was discussed during “Navigating Payments: How innovation and fragmentation are changing the game for e-commerce,” a webinar co-hosted by World Data Lab (WDL) and EBANX.
“Over the next ten years, people aged 45 and over will add USD 4.4 trillion in online spending in emerging markets, half of all the growth. Some of them already shop on their phones and will keep doing so as they get older. Others will buy online for the first time in their fifties or sixties. Merchants who build their checkout only for a 25-year-old will miss both groups,” explained Wolfgang Fengler, CEO of WDL.
The study models consumer spending, demographics, and financial access across 184 countries to 2036, drawing on the World Bank’s Global Findex and WDL’s consumer models, combined with EBANX’s experience processing payments for global merchants in emerging markets since 2012.
“If your checkout only takes credit cards, you are competing for one in five adults in emerging markets and conceding the other four”, said Marie-Elise Droga, Chief Revenue Officer of EBANX. “The merchants growing fastest with us didn’t wait for cards to arrive: they added the payment rails their customers already use, and they’re taking new buyers, bigger baskets and recurring revenue that card-only competitors can’t even see.”
834 million new online buyers, 281 million new credit cards
Between 2026 and 2036, the global economy will add 834 million online buyers but only 281 million credit card holders—a ratio of nearly three to one. In emerging markets, two in three new online buyers (67%) will arrive without a credit card. Adults without it already account for 55% of online spending in emerging markets, a share that rises to 90% in India and 93% in Sub-Saharan Africa. Credit cardless adults also represent 52% to 59% of spending in every digital category, from gaming and SaaS to streaming and travel.
Digital payment use is also running ahead of online shopping. Of the 2.6 billion emerging-market adults spending between USD 6 and USD 25 a day, 70% already pay merchants digitally while only 33% buy online, leaving at least 957 million digitally active consumers who are not yet online buyers. Many hold a bank account or mobile wallet but no card that works at an international checkout.
“This is closely tied to the innovation that came out of the financial industry in emerging markets, which developed solutions for an increasingly mobile economy and for the habits of local consumers. Today, we call them local payment methods, or LPMs, and they allowed e-commerce growth to decouple from the credit card, which still has very low penetration in these countries,” said Estelita Hass, head of Market Intelligence at EBANX.
Subscriptions are the next frontier — and India shows why
Recurring categories such as streaming, SaaS and online education will reach USD 2.1 trillion a year in emerging markets by 2036, with USD 1.1 trillion coming from adults without a credit card. In India, 82% of recurring online spending will be cardless. Account-based recurring rails are beginning to close that gap: a global SaaS company saw a 20% uplift in new subscribers after adding UPI at checkout in India, and cybersecurity company Nord Security now generates 28% of its revenue in Brazil through Pix Automático, Brazil’s recurring instant payment, six months after launching it with EBANX.
The issuer is solely responsible for the content of this announcement.
ABOUT EBANX
EBANX is the leading technology platform connecting global businesses to the world’s fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, the platform enables global businesses to offer hundreds of local payment methods and streamline cross-border payments across Latin America, Africa, and Asia. With a global footprint, it established a technology and regulatory headquarters in Singapore in 2026. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end users alike.
By Nantoo Banerjee The long-drawn Ukraine-Russia war seems to be turning out to become the world’s largest and most expensive proxy war in the modern era, in which the European Union and the United Kingdom have so far spent nearly $300 billion on Ukraine to tame Russia. The Syrian civil war since 2011 may be […]
By Kalyani Shankar In India, festivals are more than just celebrations; they are significant traditions. Families often spend a considerable amount on new clothes, sweets, decorations, and gifts during these times. However, rising prices and inflation are forcing consumers to adjust their budgets and shopping habits. Many families are choosing to celebrate on a smaller […]
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