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The island administration of Tenerife has begun negotiations to sell 97 units of Bitcoin originally acquired by the research institute Institute of Technology and Renewable Energies in 2012 for €10,000. The potential sale—valued at around US$10 million—would represent a gain of nearly 1,000-times the procurement cost.

Under the oversight of councillor Juan José Martínez, ITER had purchased the bitcoins as part of an exploratory project to understand blockchain system dynamics rather than as a speculative investment. He emphasised that the holding “was one of the many investigations carried out … to experiment with different technological systems”.

Despite the modest initial outlay, the Council’s ability to monetise the asset has been complicated by regulatory and logistical hurdles. Martínez confirmed that discussions are ongoing with a Spanish financial institution authorised by the Bank of Spain and the National Securities Market Commission to ensure the sale meets regulatory compliance.

The delay in disposal stems in part from the nature of cryptocurrencies in public-sector portfolios. The Council attempted earlier sales but encountered banks unwilling to engage due to volatility risk and regulatory uncertainty. ITER officials were also unable to access the wallet for eight years owing to administrative inertia.

Market estimates suggest the 97 bitcoins are valued at approximately €10–11 million based on current trading prices, implying a gain of around 99,900 per cent relative to the original investment.

The Council plans to reinvest any proceeds into its research and innovation agenda, aligning with ITER’s evolving focus on quantum technologies and other advanced systems. Martínez said the logical next step is to channel the enhanced value into the institute’s core mission.

Observers note that while the transaction is small in global cryptocurrency terms, it signals growing institutionalisation of digital-asset holdings outside the private sector. Analyst Fernando Molina of Blockworks remarked that the sale could draw attention to the potential for public-administration bitcoin portfolios and the regulatory barriers they face.

The operational path to execution remains complex. The buyer remains undisclosed and must satisfy both Spanish financial-sector licensing and anti-money-laundering requirements. Because banks in Spain rarely accept bitcoin deposits, entities that facilitate the transaction must possess the requisite licences. The Council is navigating Spanish administrative processes that govern public-sector asset sales and digital-asset compliance.

Sector experts caution that while the gain is remarkable, cryptocurrencies held by public institutions carry unique risks. Price volatility, custody challenges, and regulatory oversight create additional burdens for an asset class still considered nascent. The Council’s case offers a rare example of such holdings being monetised by a sub-national government.

The Public Investment Fund and Jones Lang LaSalle Saudi Arabia Company Limited announced a memorandum of understanding to deepen collaboration in Saudi Arabia’s real-estate sector. The agreement, inked during the Future Investment Initiative in Riyadh, lays out a strategic partnership aimed at leveraging PIF’s infrastructure ambitions and JLL’s global real-estate expertise.

Under the MoU, PIF and JLL intend to focus on critical areas such as market-insight generation, valuation services, project-management frameworks and talent development within the real-estate industry. The goal is to increase private-sector participation, accelerate technology adoption in property development and support the transformation of Saudi Arabia’s built environment.

PIF’s local real-estate strategy positions the fund as a driver of urban innovation, economic diversification and quality-of-life enhancements in line with Vision 2030. As head of PIF’s Local Real Estate Investment Division, Saad Alkroud signed the agreement alongside Sue Aspre y Price, EMEA CEO and global head of Portfolio Services, Work Dynamics at JLL.

Real-estate activity in Saudi Arabia has come under the spotlight as the economy looks beyond oil and prioritises new sectors such as urban development, tourism and infrastructure. Data from real-estate-consultant estimates show that rents and purchase-prices have surged in major urban areas, prompting policymakers to explore responsive measures. Once largely dominated by public-sector investment, the market is shifting toward private-sector engagement — a key objective in the MoU. The agreement signals JLL’s commitment to the Kingdom, where the firm already has operations and plans to expand offerings in valuations, asset management and advisory services.

Execution will be critical. While the MoU is non-binding, it lays the foundation for joint initiatives to build local capacity, deploy digital and prop-tech solutions and drive more efficient project delivery. For JLL the partnership offers a fast-growing real-estate market with the backing of a sovereign investor. For PIF it opens global know-how and operational discipline in property-sector value chains. Analysts observe that the real-estate sector must contend with affordability pressures, consumer-demand dynamics and a need for asset-liability management frameworks in a transitional economy.

The collaboration also supports the broader push for sustainability in built-environment projects. As PIF steers giga-projects and landmark initiatives, JLL’s experience in global sustainability standards and ESG frameworks may be applied to help the Kingdom meet international benchmarks and investor expectations. According to the official statement, acceleration of new-technology adoption and fostering of local talent were emphasised as pillars of growth.

Industry watchers point out that the significance lies not just in the signing but in implementation. The proof will be in how swiftly joint programmes roll out, how private-sector engagement increases and how efficiently project pipelines convert into deliverables. The agreement comes at a time when Saudi policymakers are intensifying efforts to unlock private capital for real-estate, logistic and urban-development assets, with PIF central to that agenda.

With Saudi Arabia targeting a home-ownership rate of 70 per cent and major urban developments underway, the PIF-JLL alliance could become a cornerstone of the real-estate-ecosystem overhaul. Effective governance, transparency and strong monitoring mechanisms will be needed to ensure the partnership delivers the intended economic and social outcomes.

By TN Ashok NEW  YORK:When the polls closed at 9 p.m. on Tuesday, November 4, 2025, it took less than 40 minutes for the Associated Press to call the race. Zohran Mamdani, a 34-year-old democratic socialist and state assemblyman from Queens, had accomplished what many considered impossible just a year earlier: he defeated Andrew Cuomo—twice—to […]

The article The Mamdani Moment: A Political Earthquake In America’s Largest City appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

The rupee edged towards a sharp low as the central bank escalated its defence of the currency amid growing external headwinds. The domestic currency traded around 88.80 to the U. S. dollar, nearing its record low despite official efforts to stem the slide.

The Reserve Bank of India expanded its short-dollar forward positions by about US$6 billion in September, bringing the total to roughly US$59.4 billion, signalling increased dollar sales to defend the rupee.
The rupee had already recorded five straight months of decline before stabilising briefly in October, only to come under renewed pressure. Analysts point to surging gold imports, foreign-portfolio investor withdrawals and uncertainty around U. S. tariffs as key drivers of dollar outflows.

Market participants note that the rupee’s ability to hold above the 88.80 mark depends heavily on the central bank’s resolve. One currency strategist at the Australia and New Zealand Banking Group remarked that the central bank may not allow a significant breach of the 89-per-dollar level unless India’s economic fundamentals deteriorate further.

The rupee’s slide contrasts with other emerging-Asian peers, most of which posted gains of over 3 per cent this year while India’s currency was down about 3.6 per cent. Importer demand for dollars and robust non-deliverable-forward flows remain persistent drags. The central bank made small daily interventions via state-run banks, but these were smaller in scale than the large dollar sales seen in the prior month.

In one high-impact intervention, the Reserve Bank of India sold between US$3 billion to US$5 billion across spot and offshore markets, according to trade-desk estimates. That move pushed the rupee up by nearly 1 per cent on the day, its largest single-day gain in four months. The central bank has declined to comment publicly on the precise quantum of intervention.

The central bank is also placing a premium on managing volatility. Despite the dollar’s global strength and broader weakness in Asian currencies, the rupee has been constrained to a narrow trading band around the 88.80 level. Its ten-day realised volatility has fallen beneath 2 per cent and implied volatilities through one month are near their yearly lows. Some market participants caution that this subdued volatility could undermine hedging activity and leave firms vulnerable if a shock hits.

The rupee’s vulnerability arises in part because the U. S. dollar remains elevated, and the Federal Reserve has signalled that it does not expect to cut interest rates as soon as markets hoped, strengthening the greenback and reducing relief for the rupee. At the same time, India’s trade position remains under pressure as high gold-import volumes and elevated oil prices increase dollar demand.

Against this backdrop, India’s sovereign-bond market is showing signs of life. Foreign investors have ramped up purchases of long-dated government debt following the central bank’s display of defensive resolve. Some analysts suggest that migration back into Indian bonds reflects renewed confidence in rupee-denominated assets. Yet this hope is tempered by the possibility that tighter liquidity—stemming in part from currency-market interventions—could weigh on bond markets and corporate funding costs.

BYD Co. has reported another significant dip in its quarterly profit, a trend that highlights growing challenges for the Chinese electric vehicle manufacturer. The company’s financial struggles are attributed to increasing domestic competition and intensified scrutiny within the rapidly expanding electric vehicle market.

The latest figures reveal a sharp drop in profit, signalling a tough period for BYD as it grapples with shifting market dynamics. The EV giant, which has long been a leader in China’s electric car market, is now confronting a series of pressures that have raised questions about its ability to maintain its leading position in the industry.

BYD’s financial results for the latest quarter show a marked decline compared to previous years. While the company has seen significant sales growth, the rapid expansion of competitors and the tightening regulatory environment have severely impacted its profitability. Analysts point to these factors as the key contributors to the company’s poor performance, with increasing competition from both domestic and international manufacturers.

Several key rivals in the Chinese market have ramped up their EV production, offering more affordable models and aggressively targeting a broader consumer base. This surge in competition has intensified the pressure on BYD, forcing it to lower prices and increase marketing efforts to retain market share. However, such strategies have led to reduced margins, contributing to the company’s profitability issues.

Meanwhile, the regulatory landscape for EV manufacturers in China has become more stringent. The government has introduced new policies aimed at tightening emissions standards and ensuring greater transparency in the EV supply chain. These regulations, while necessary for the long-term sustainability of the sector, have added another layer of complexity for companies like BYD, which are already grappling with increasing competition.

Despite these challenges, BYD has maintained its status as one of China’s largest producers of electric vehicles. The company’s leadership has made efforts to pivot and adapt to changing conditions by focusing on new technology and improving vehicle quality. However, analysts suggest that its ability to sustain growth at its current pace may be compromised unless it can effectively manage both competition and regulatory pressures in the coming months.

The company’s performance also highlights a broader trend in the Chinese EV market, where competition is becoming fiercer as both established players and new entrants seek to capitalise on the booming demand for electric cars. International brands are also increasing their presence in the market, further intensifying the competitive pressure on domestic companies like BYD.

The global economic environment is adding to the uncertainty, as supply chain disruptions and fluctuating material costs affect car manufacturers worldwide. For BYD, the cost of raw materials, including lithium, a crucial component for batteries, has surged, further eroding its profitability.

BYD’s management is reportedly focusing on cutting operational costs, improving manufacturing efficiency, and exploring new international markets to counter the pressure it faces at home. The company has already made moves to expand its footprint in Europe, where demand for electric vehicles is steadily increasing. However, this shift to international markets will require significant investment in infrastructure and brand development, which may take time to yield results.

Most central banks in the Gulf Cooperation Council moved swiftly to lower key interest rates after the Federal Reserve trimmed its policy rate by 25 basis points, reinforcing the strong alignment between Gulf monetary policy and that of the United States. The decision saw the Central Bank of the UAE reduce its overnight deposit facility base rate to 3.90 per cent from 4.15 per cent, while the Saudi Central Bank trimmed its repo rate to 4.50 per cent and reverse-repo rate to 4.00 per cent.

This round of cuts marks the second such move by the Federal Reserve this year and comes amid a backdrop of moderating inflation globally and a focus on supporting non-oil growth across the region. Two Fed policymakers dissented in the decision, and Chair Jerome Powell cautioned that a December rate cut was not assured.

The Gulf region’s strong inclination to follow U. S. monetary policy stems from the fact that five of the six GCC currencies, including the Saudi riyal, UAE dirham and Qatari riyal, are pegged to the U. S. dollar. Only the Kuwaiti dinar is linked to a pegged basket of currencies of which the dollar is the dominant component, giving Kuwait greater policy flexibility.

Beyond the peg dynamics, the rate cuts serve a broader strategic goal: to reduce borrowing costs and stimulate investment in sectors aligned with the region’s diversification agenda, such as real-estate, manufacturing and tourism. According to analysis by CFI, inflation in the Gulf is projected to hover around 1.9 per cent in 2025, with GDP growth estimated at 4.0 per cent on average, meaning there is space to ease monetary policy without immediate inflation risk.

While the broad pattern across the region is one of alignment with Washington, there are subtle distinctions. Kuwait opted to hold its rates unchanged, signalling that local conditions rather than external alignment would guide its stance. Analysts say that Kuwait’s stronger inflation headwinds and different economic profile justify such a deviation.

Market watchers note that the rate cuts may deliver stimulus to credit growth, though some risks remain. Lower interest rates could dampen returns on traditional savings vehicles and simultaneously sharpen competition among banks. For governments and businesses in Gulf economies, cheaper financing may bolster infrastructure projects and non-oil activities. A weaker US dollar, another by-product of U. S. policy easing, could lend further support to oil prices—helping export-based economies—but it also carries the risk of higher import costs.

In the UAE, the central bank’s move to 3.90 per cent marks the lowest policy rate since 2022. This step is expected to make loans and mortgages more affordable, offering a boost to the non-oil sector and domestic demand. In Saudi Arabia, the rate adjustment is directly aligned with the broader reform agenda under its Vision 2030, which hinges on greater private-sector participation and attraction of foreign investment requiring cheaper capital.

Some central bankers caution that while rate cuts provide stimulus, they cannot fully offset structural headwinds such as global energy demand shifts, supply chain disruptions and geopolitical uncertainty. The Federal Reserve’s cautious tone — emphasising that further cuts are not guaranteed — adds an extra layer of uncertainty for regional banks that shadow U. S. policy.

In this context, Gulf monetary authorities appear to be striking a careful balance between maintaining currency stability, supporting growth and safeguarding financial stability. As their economies strive to scale non-hydrocarbon sectors, the timing and scale of rate cuts are being calibrated not only to external headwinds but also to domestic structural priorities.

Dubai-listed developer Emaar Properties is sharpening its global expansion strategy by placing a stronger emphasis on India while exercising caution over entry into China’s troubled housing market, according to chief executive and founder Mohamed Alabbar.

Alabbar told the Future Investment Initiative conference in Riyadh that India would be “our next big step,” citing two decades of operations in the country and significant growth potential. He emphasised that, while Emaar remains “very interested in China,” it is holding off until the market shows clear signs of recovery, noting that “it is a different world. Let them recover.”

The directive comes after Emaar posted strong financial results: net profit jumped 25 per cent to AED 18.9 billion last year and rose a further 34 per cent in the first half of 2025, conditions that Alabbar says position the firm to target large market acquisitions rather than start-ups abroad. Emaar’s land-bank footprint already spans more than 1.87 billion sq ft globally, including a 122 million sq ft stake in India and around 175 million sq ft outside the UAE.

In India the driver is rising urbanisation, youthful demographics and a housing deficit that Emaar believes it is well placed to address. Alabbar signalled that the company is pursuing joint-venture partnerships with local groups rather than divesting its Indian operations, dismissing reports of a sale to one of the country’s major conglomerates. By contrast, China presents multiple headwinds including a pronounced housing market slump: new-home prices in 63 out of 70 major Chinese cities fell in September, reflecting a 0.4 per cent month-on-month drop and a 2.2 per cent year-on-year fall.

Analysts say Emaar’s bifurcated strategy makes sense in the context of broader market dynamics. India’s economy is forecast to grow about 6.7 per cent in fiscal 2025-26, according to a Reuters poll, while China is projected to expand by roughly 4.8 per cent amid real-estate weakness. Alabbar noted that the company sees China’s environment as “still suffering with their housing problem, but they’ll come up with it,” stating that Emaar wants to be ready rather than reactive.

Emaar’s preferred mode of overseas expansion appears to be acquiring significant stakes in existing developers, upgrading business models and rolling out its integrated real-estate offering rather than green-field launches. “Maybe you go and buy a majority stake in a developer and then change the way they do business … or maybe they already do good business and we learn from them,” Alabbar explained. That approach aligns with Emaar’s low net debt, elevated cash position and willingness to invest in large markets such as the US, Europe and China.

Critics caution that while India holds promise, foreign developers often face regulatory, land-title and partner-alignment risks. Emaar’s long-standing Indian venture, launched in 2005, endured partner disputes and execution delays, a history that Alabbar acknowledged when he said “we’ve been there 20 years. That’s big for us.” He further noted that successful growth in India depends on selecting the proper location and product mix. Meanwhile, China’s structural property problems are deep-rooted: unsold inventory and falling valuations continue to impair home­buyer confidence, raising questions about the timing of any major developer expansion into the market.

Gold regained momentum as the US dollar’s slide and expectations of a shift in Federal Reserve policy helped lift the metal above the psychologically important $4,000-per-ounce mark. Spot gold rose around 0.7 % to $4,009.39 per ounce, while US gold futures for December delivery edged up to $4,022.10. At the same time, broader factors have introduced both bullish and cautionary signals to the market.

Investor interest is rekindled by the weaker dollar, which makes gold relatively cheaper for buyers holding other currencies, and by widespread anticipation that the Fed will adopt a more dovish stance. The dollar index fell roughly 0.1 % as markets weighed the possibility of rate cuts. At the same time, certain easing in trade-tensions between the US and China has slightly reduced gold’s role as a safe-haven asset. The confluence of these opposing forces has begun to shape a more nuanced outlook for the metal.

Analysts say that the rebound above $4,000 should not be taken as a strong bullish assurance yet. While the technical bounce signals renewed buying interest, momentum must be supported by fundamentals. One market commentator observed that “buyers who were waiting on the sidelines for gold are now being tempted into taking positions at these price levels. Also, we are seeing a bit of softness from the dollar, which is giving gold a reprieve”.

The wider context shows that gold has already surged markedly this year, up more than 50 % in 2025, and reached a record high near $4,381.21 in mid-October. The rally has been fuelled by a combination of geopolitical anxiety, central-bank buying and expectations of monetary easing. But the pull-back seen earlier this week underscores that investor discipline and macro clarity are still required for any sustained rise.

Emerging trends in the market reveal more structural undercurrents. Research from noted finance academics suggests that gold’s role is evolving: it may increasingly function as a high-quality liquid asset, competing with traditional safe-havens and benefiting from de-dollarisation in global reserves. But at the same time, some firms argue the rally may be overstretched: one analysis warned that with gold already up so sharply this year, its next move could be a “mini-bust,” with projections that prices might fall toward $3,500 by 2026 if support from central-bank demand weakens.

Forecasts for 2026 have also shifted. A poll of analysts and traders indicates a median expectation that average gold prices will exceed $4,000 per ounce next year – a milestone in itself – although forecasts vary widely, reflecting both optimism and caution. On the upside, institutions such as Goldman Sachs remain bullish, pointing to potential further gains on the back of monetary accommodation and geopolitical risk. On the downside, if trade tensions ease and inflation moderates, some believe gold could correct.

The interplay between stimulus expectations and dollar dynamics remains crucial. A softer dollar supports gold, but if authorities signal confidence in economic recovery and maintain higher interest rates, gold’s appeal could diminish because it offers no yield. Additionally, the safe-haven narrative is under pressure as expectations of improved US-China relations gain traction, which may lower investors’ impetus to hold gold purely for risk hedging.

Strength in demand from global central banks has supported prices thus far, but market watchers caution that this may face constraints as gold holdings rise and incremental purchases become harder. For now, the up-move above $4,000 may signal a tentative buying opportunity for traders who believe a rate-cut cycle is on the horizon. For longer-term investors though, vigilance remains essential, as valuations are elevated and market dynamics could shift rapidly.

By Nantoo Banerjee If global oil giant BP plc’s ‘Energy Outlook 2025’ proves to be true, India will be a global leader in energy consumption, outpacing all other countries by 2050. The country will account for 12 percent of the global demand, up from seven percent from 2023, according to BP’s chief economist Spencer Dale. […]

The article India Is At The Heart Of Driving The Global Energy Process appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

   By K Raveendran   The market seems to have already done its arithmetic on the new US sanctions on two major Russian oil companies, Rosneft PJSC and Lukoil, gauging the immediate and medium-term consequences for energy supply lines stretching from Moscow to Mumbai. In a matter of hours, crude prices spiked, reflecting not just […]

The article Latest Trump Sanction On Russian Oil Companies Gives Escape Route To India appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).