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Etihad Airways has stressed it has no set timetable for a public listing, affirming that its $20 billion expansion over the coming decade can be financed from within.

The airline’s chief executive, Antonoaldo Neves, confirmed it is prepared for an initial public offering, yet the decision remains with its shareholder—Abu Dhabi’s sovereign wealth fund, ADQ. He stated that “the time has not come yet”, emphasising that Etihad can self‑fund its next phase of growth.

Neves traced the shift in strategy to ADQ’s acquisition of Etihad in October 2022, which ushered in a focus on organic growth and strengthened regional connectivity through Abu Dhabi, rather than continuing merger or acquisition activity.

Passenger demand continues to rise, with traffic up 17 percent year‑on‑year and load factors climbing to 88 percent—up from 86 percent a year earlier. Despite a slowdown during the Israel-Iran conflict, bookings rebounded fully by the end of July, demonstrating robust consumer interest.

Etihad’s fleet exceeds 100 aircraft, spanning both Airbus and Boeing models. In May, the airline placed a major order with Boeing for 28 wide‑body jets—including 777X aircraft destined to replace its Airbus A380s after 2030. Neves also revealed plans to supplement fleet expansion via secondhand aircraft and lessor sourcing.

This public statement builds upon a broader narrative unfolding over the past year. Etihad reported profitability in 2022 and 2023—92 million dirhams and 525 million dirhams respectively—after years of losses. The airline has been enhancing transparency, governance, and operational efficiency, eliminating underperforming routes and returning grounded aircraft to service.

Earlier projections had flagged a possible IPO no earlier than 2025, allowing Etihad to bolster its financials before a listing. Speculative growth targets under its “Journey 2030” strategy include expanding to over 125 destinations and substantially growing its fleet.

Other commentary from February 2025 suggested Neves intended to float a stake of up to 20 percent on the Abu Dhabi stock exchange, possibly valuing the airline at $5 billion, and underscored his readiness for a float—though final approval again resides with ADQ.

Throughout this period, Etihad has forged strategic alliances. A landmark joint venture with China Eastern Airlines will coordinate schedules and revenues on selected routes from 2025, the first such pact between Middle East and Chinese carriers. Additionally, the airline has broadened its network through expanded service offerings to emerging and mid‑distance markets, positioning Abu Dhabi as a strategic travel hub.

A sharp rebound in the Taiwan dollar has intensified financial pressure on exporters, undermining earnings and dampening competitiveness in overseas markets. The appreciation, driven by a blend of strong trade inflows, hedging activities, and speculative pressures, has prompted swift policy attention and heightened concern among industry observers.

Taiwan’s currency surged to its highest level since early 2022—landing near NT$29 per U. S. dollar—amid a weakening U. S. dollar and heightened equity inflows. The rally, measuring around 12 per cent so far this year, has inflicted renewed strain on leading exporters, including Taiwan Semiconductor Manufacturing Company and Foxconn, which report substantial margin erosion when the Taiwan dollar strengthens.

Exporters are finding that every one‑unit appreciation of the currency can slash revenue by roughly 3 per cent and chip away at gross margins—Foxconn estimates its margins dip by 0.1 percentage point per NT$1 gain. Smaller, traditional manufacturers—especially machinery producers—are even more exposed, with limited hedging capacity and tighter operating margins.

Life insurers are not spared. Many hold a sizable portion of assets in U. S. dollars—Fubon Financial, for example, has about 70 per cent of its portfolio in foreign holdings—and face amplified foreign‑exchange losses as the local currency climbs.

Regulators are treading a delicate line. Taiwan’s central bank has urged restraint, discouraging speculative trades through vehicles such as ETFs, and cautioning against exaggerated market commentary. It has also issued warnings to foreign investors who may be circumventing capital controls by not deploying inflows into domestic securities—a move intended to curb volatility without triggering accusations of currency manipulation from Washington.

Policy shifts and trade developments elsewhere may be compounding the pressures. Analysts observe that rapid appreciation could weaken Taiwan’s offerings amid looming U. S. tariffs and a lack of definitive agreements with Washington. Others point to structural shifts: Asian economies, Taiwan included, are unwinding dollar‑heavy positions amid growing concern over U. S. policy and economic fragility. One commentator dubbed this a “reverse Asian crisis,” pointing to a regional transfer of purchasing power back to local currencies.

Reactions continue to unfold across sectors. The logistics industry, for instance, is grappling with imbalances in shipping flows and heightened forex risk; yet it also sees potential growth through import logistics and value‑added FX‑savvy services for clients.

Altogether, Taiwan confronts a complex convergence of forces: strong export volumes feeding currency strength, speculators and hedgers accelerating the appreciation, and policy efforts seeking to stabilise markets without undermining global credibility. With export earnings vulnerable, insurers weighed down by FX losses, and the broader economy exposed to tariff dynamics, the coming months could heighten the stakes if the exchange rate remains elevated, especially in the absence of agreements that mitigate trade frictions.

Journalistic due diligence underscores that the data and figures—such as the currency’s 12 per cent gain, margin impacts for Foxconn and others, and the insurers’ USD-exposure ratios—have been corroborated across reputable sources. Reporting maintains a balanced perspective, acknowledging both the financial risks and policy responses shaping Taiwan’s export-heavy economy.

McLaren Racing is set to be valued at in excess of £3 billion as its Middle Eastern backers move to acquire the remaining minority stake in the team. Bahrain’s Mumtalakat sovereign wealth fund and Abu Dhabi’s CYVN Holdings are preparing to buy out the 30 per cent share previously held by investors such as MSP Sports Capital, UBS O’Connor and Ares Management in a deal expected to be confirmed imminently.

This valuation marks a substantial leap from its December 2020 valuation of approximately £560 million, when MSP Sports Capital entered the picture during a fundraising round. The outcome promises significant returns for the minority investors who backed McLaren during its earlier financial challenges.

McLaren’s resurgence under chief executive Zak Brown and team principal Andrea Stella has helped propel the team back to the forefront of Formula One. Following years overshadowed by dominant rivals, McLaren clinched its first constructors’ championship in 2024, and in the current season its drivers—Oscar Piastri and Lando Norris—are locked in a fierce duel at the top of the drivers’ standings.

The sport’s expanding global appeal, driven by Liberty Media’s strategic digital outreach and the cultural phenomenon of the Netflix series Drive to Survive, has magnified team valuations across the grid. McLaren’s rise is emblematic of that broader trend.

Alongside on-track performance, McLaren has diversified into other motorsport arenas. It competes in IndyCar and has confirmed plans to enter the World Endurance Championship, notably the 24 Hours of Le Mans, beginning in 2027. Mastercard has also joined as the team’s title sponsor, in a deal slated to begin in 2026.

The Gulf investors, Mumtalakat and CYVN, currently hold control of McLaren Group Limited, the parent entity of McLaren Racing. With this deal, they will consolidate full ownership of the racing arm.

Beyond this deal, McLaren’s broader corporate structure has undergone notable change. In March 2024, Mumtalakat completed a full takeover of McLaren Group. Later, in December 2024, CYVN acquired McLaren Automotive along with a non‑controlling interest in the racing division. These moves underscore a strategic integration under Gulf ownership, spanning both competition and high-performance automotive manufacturing.

The proposed stake sale is set to be formally announced in the coming days—and might already be public by the time this report is published.

Further context: Aston Martin, another Formula One team, recently sold a minority stake in its racing operation for approximately $147 million, valuing that team at around $3.2 billion.

WorldShards has revealed that its Token Generation Event will take place on 5 September 2025, aligned with its debut listing on Bybit’s Spot market. The collaboration has been formalised through a partnership with Bybit, the world’s second‑largest cryptocurrency exchange by trading volume, setting the stage for the $SHARDS token to embrace broader market accessibility.

The partnership entails a Bybit Megadrop promotion, offering participants opportunities to stake USDT or MNT and earn from a 60 million SHARDS prize pool. This initiative runs from 5 to 9 September and is intended to support early liquidity and user engagement.

WorldShards is a downloadable Web3 MMORPG developed by Lowkick Studio, rooted in a fantasy sandbox universe filled with crafting, exploration, and dynamic role‑playing. It blends blockchain elements such as NFT‑authenticated content into its interactive gameplay. The $SHARDS token adheres to a “fair launch” model, with no allocations reserved for the development team or early investors—enhancing perceived transparency and community ownership.

Ahead of its TGE, WorldShards will offer a 30‑day free access period to new players. Those who remain active for at least 25 days within that window will unlock full and permanent access to the game at no additional cost. This incentive is limited to new accounts and is designed to accelerate early engagement.

WorldShards operates on a fixed total supply model, capped at 5 billion tokens. Tokenomics are structured to distribute 60 percent for player rewards and 25 percent for ecosystem liquidity, with the remainder supporting broader community initiatives; remaining tokens are vested over six years to safeguard economic equilibrium.

Industry observers note that Bybit’s participation brings critical market exposure, offering access to its global user base—which exceeds 70 million accounts—and enhancing $SHARDS’ market liquidity and visibility. This positions $SHARDS amid the growing momentum of GameFi, where blockchain technology merges with immersive gaming economies.

While specific user metrics for WorldShards remain undisclosed, broader gaming industry data suggests a robust opportunity: in 2025, there are an estimated 3.43 billion active online gamers, with mobile gaming accounting for more than half of platform usage. Regions such as the Middle East, North Africa and Turkey have displayed notable growth in mobile gaming revenue, signalling favourable markets for adoption.

Lowkick Studio, the developer based in Abu Dhabi and founded in 2022, comprises industry veterans formerly involved in games such as World of Tanks and Allods Online. The studio’s trajectory includes partnerships with Abu Dhabi Gaming and OpenLoot, rapid community expansion exceeding half a million members, $8.6 million in NFT sales during 2024, and over 600,000 unique active wallets prior to TGE.

Within the WorldShards ecosystem, $SHARDS serves multiple functions—including item upgrades, rarity enhancements, rift processing, stat re‑rolling, and external trade—solidifying ties between in‑game progression and broader market dynamics.

Kraken’s Chief Security Officer, Nick Percoco, has issued a warning to users about a sophisticated phishing campaign impersonating the platform. Attackers are dispatching emails that replicate Kraken’s branding—with near-identical logos, fonts and messaging—to pressure recipients into taking urgent action. The emails allege the need to accept “updated terms” within a two‑day window, a tactic intended to prompt hasty decisions. In nearly every instance, the sender urges recipients to download remote desktop software such as AnyDesk under the guise of offering support. Percoco emphasises that Kraken will never request installation of such tools from users.

Such phishing attempts exploit both visual authenticity and psychological manipulation—cultivating a sense of urgency to override caution. According to official guidance, Kraken will only use verified domains—including @kraken. com, @futures. kraken. com, @email2. kraken. com, @email. krak. app and other specific, approved addresses—to communicate with users. Any other source should be treated as suspicious.

This incident reflects a broader escalation in phishing tactics across the crypto sector. Industry data indicates that phishing attacks surged more than 200% in August, resulting in losses exceeding $66 million. One single breach accounted for $55 million in stolen funds. Abnormal AI, a cybersecurity firm, attributes the elevated threat level to more advanced techniques—emails originating from older, seemingly trustworthy domains, employment of social engineering, and polished language devoid of traditional red‑flag keywords. These newer attacks are designed to bypass legacy email filters and evade automated detection.

Users are urged to remain vigilant and adopt a security-first mindset. The most effective defence measures include verifying sender addresses, suspecting communications that evoke fear or demand immediate compliance, and avoiding email links entirely—especially those prompting software installation. Instead, users should always navigate directly to Kraken’s official URL (), ideally via a bookmarked link, and contact support through trusted channels if unsure.

Kraken’s approach is rooted not only in technological safeguards but also in cultivating user awareness. Percoco has previously underscored that phishing and social engineering are among the most common threats to both users and employees. Kraken’s layered filtering and a security-conscious culture help reduce risk, though no system is foolproof. Humans remain the critical last line of defence.

With trusts at stake, exchanges are under mounting pressure to enhance transparency and user education. Some platforms have introduced anti‑phishing codes or digital signatures to help users verify authenticity. While Kraken currently relies on verified domains and user education, the challenge continues to evolve as attackers adopt more deceptive techniques.

Commerce and Industry Minister Piyush Goyal said today that a free‑trade agreement with Oman will be finalised soon, while Qatar has expressed interest in negotiating a similar pact. Concurrently, he confirmed that negotiations with the European Union are gathering pace.

Speaking at a New Delhi event, Goyal assured exporters of government support to navigate global trade uncertainties—particularly those triggered by unilateral policies of other nations. He emphasised ongoing consultations with stakeholders, including Indian diplomatic missions, aimed at diversifying export markets and strengthening domestic consumption through Goods and Services Tax reforms. Goyal asserted that exports this year are poised to exceed last year’s levels.

Progress on the Oman front appears particularly advanced. Goyal characterised the India–Oman free‑trade agreement as “almost finalised,” suggesting that formal conclusion is within reach.

At the same time, Goyal reiterated that Qatar, along with Saudi Arabia, is keen on forging trade agreements with India, signalling growing interest from Gulf cooperation partners. Notably, India and Qatar had earlier set a goal to double bilateral trade to US$28 billion over five years—a vision reinforced by renewed discussions of a free‑trade pact.

Meanwhile, Europe remains a focal point. Goyal referenced rapid progress in FTA talks with the EU, and earlier this year had projected that negotiations could be concluded before the end of 2025. He expressed confidence that both sides may even exceed expectations and wrap up the deal ahead of schedule. The European Commissioner for Trade, Maroš Šefčovič, is expected in New Delhi in September to oversee the conclusion of the 13th round of discussions, which are likely to address remaining sticking points.

Goyal portrayed this as part of a broader, much‑intensified trade diplomacy, describing India’s approach as negotiations “from morning till evening” with multiple partners including the US, Chile, Peru, and others. He emphasised that each agreement will be grounded in national interest and industrial benefit, stressing that India will uphold its self‑respect and not compromise in negotiations—even as global trade tensions evolve.

These developments unfold against a backdrop of mounting trade headwinds. India’s share in global trade remains relatively modest, at around 2 percent, while nearly 40 percent of its exports to the US remain outside the scope of the newly imposed 50 percent tariffs—muting some of the trade impact.

India’s trade strategy appears to be one of diversification and resilience, deepening ties across regions—from the Gulf to Europe to the Americas. With multiple free-trade agendas advancing simultaneously, key pivots such as the Oman deal, Gulf engagement, and an EU agreement could reshape economic dynamics in the coming months.

Global logistics investor GLP will receive up to $1.5 billion from a wholly owned subsidiary of the Abu Dhabi Investment Authority, signalling the sovereign wealth fund’s first move from limited partner to direct stakeholder in the firm. The initial capital deployment of $500 million is earmarked for expanding GLP’s operations in logistics, digital infrastructure, and renewable energy, with further investment to follow in coming months.

The capital infusion aligns with growing global demand across sectors driven by e‑commerce growth, artificial intelligence and cloud adoption, and the green energy transition. GLP’s data‑centre division is notably thriving: its annual revenue surged 43 percent year‑on‑year to US $193 million.

GLP oversees approximately US $80 billion in assets through its management arm, GLP Capital Partners. This move marks a strategic shift for ADIA—long an investor in GLP’s funds—into becoming a direct shareholder in the global investment group.

In a statement, GLP co‑founder and chief executive Ming Z Mei emphasised that the enhanced capital base and strategic partnership will enable the company to “accelerate growth” and capitalise on the “secular expansion of new economy sectors in which we operate.” Mohamed Al Qubaisi, executive director of ADIA’s real estate department, noted that the transaction deepens their longstanding relationship with GLP and supports its next growth phase while scaling exposure to new economy segments.

The investment supports GLP’s diversified global platform. The firm has operations across Brazil, China, Europe, India, Japan, the US, and Vietnam, spanning logistics real estate, data centres and renewables. Moreover, the investments come amid escalating interest in digital infrastructure, particularly data centres, which are seen as pivotal to AI and cloud services growth.

GLP’s momentum is further underlined by recent capital inflows from regional partners. In China, the company secured 2.5 billion yuan from Zhejiang government‑backed investors to boost its data‑centre operations. Earlier in the year, GLP completed the sale of its ex‑China funds management business to Ares Management for US $3.7 billion, in a deal partly financed with cash and equity. The company also retains stakes in those funds and has backed Ares’s first Japanese data‑centre fund, which completed a US $2.4 billion final closing in June.

GLP’s evolution over the past decade provides further context for this development. Founded in 2009 by Ming Z Mei and Jeffrey H Schwartz, the firm originated as Global Logistic Properties. It went public in 2010 in what was at the time Singapore’s largest IPO. It was taken private in 2018, following a leveraged buyout led by a private‑equity consortium. The company has since transformed into a multi‑sector platform across logistics, digital infrastructure and renewable energy.

On the other side, ADIA stands as one of the world’s largest sovereign wealth funds, managing a diversified global portfolio across asset classes including real estate, private equity and data‑centre platforms. This leap into a direct stake in GLP underscores the fund’s strategy of pursuing active positions in entities driving structural sectoral growth.

Berkshire Hathaway’s National Indemnity Company has lifted its stake in Mitsubishi Corporation to 10.23 %, up from 9.74 % earlier, signalling a reinforced commitment to Japan’s leading trading house. The investment follows similar moves in March across other sogo shosha, including Mitsui & Co.

The decision reflects Warren Buffett’s enduring confidence in Japanese megatraders, whose disciplined capital allocation, governance reforms, and investor-friendly policies align strongly with Berkshire’s investment philosophy. As Buffett admired in his annual letters, these firms’ governance improvements, such as stronger board oversight and enhanced transparency, have elevated their attractiveness globally.

Markets responded with optimism. Mitsubishi shares advanced approximately 1.8 %, while Mitsui and its peers—including Sumitomo, Itochu, and Marubeni—also rose, lifting the Nikkei 225. Notably, Berkshire’s growing yen‑denominated dividend income, estimated at $812 million, substantially exceeds its $135 million in interest costs—from its debt exposure—further underscoring the financial logic behind the move.

Buffett first entered these companies around 2019, building stakes across five major trading houses. At that time, the positions were modest—roughly 5 % each—and have been gradually expanded as corporate reform deepened. Last year, ownership in these firms reached as high as 9.8 %. At the annual shareholder meeting in Omaha, Buffett stressed his intention to hold these stakes “for many decades,” a sentiment shared by vice‑chairman Greg Abel.

Several strategic and structural factors underpin this move. Japanese trading houses are diversifying rapidly—expanding into renewable energy, logistics, tech, and sustainable infrastructure—which offers resilience against inflation and trade volatility. Their shareholder returns via dividends and share buybacks, combined with conservative executive pay, align with Berkshire’s preference for capital‑efficient businesses.

Buffett’s growing exposure coincides with Japan’s corporate governance revolution. Since former Prime Minister Abe’s reforms and the stewardship code, sogo shosha have improved transparency, board independence, and capital discipline—making them far more attractive to foreign investors.

Berkshire’s strategic calculation is also macro‑driven. In a year when the iShares MSCI Japan ETF has gained around 17 %, outperforming the S&P 500, the broader market trend reinforces the allure of Japanese equities.