Business
The Asian Development Bank has increased its growth estimate for developing Asia and the Pacific to 5.0% in 2026, up from its previous forecast of 4.9%. The region’s economy is expected to expand at a slightly faster pace in 2025 with a growth rate of 5.5%. The Asian Development Bank revised its 2026 outlook upward by 0.1 percentage point compared to the July forecast. Growth is anticipated to accelerate modestly to 5.1% in 2027, according to the September Asian Development Outlook. Continued support from robust investment, government stimulus measures, and technology exports related to artificial intelligence are key drivers behind regional momentum.
Egyptian Remittances Hit $29.7 Billion in First Seven Months of 2026, According to Central Bank CAIRO, EGYPT / RankWire.AI / – The Central Bank of Egypt announced that remittances from Egyptians working abroad amounted to approximately $29.7 billion during the initial seven months of 2026. This figure represents a 28.1% increase compared to roughly $23.2 billion in the same period of 2025, covering money sent home by Egyptians employed overseas. The total is about $6.5 billion higher than the amount recorded in the first seven months of 2025, providing the latest official figure for 2026.
China held steady its benchmark lending rates in September, with the one-year loan prime rate remaining at 3.0%. The over-five-year LPR was also unchanged at 3.5%, based on the official rate set on September 20. This rate often serves as a reference point for mortgage pricing among many lenders. The decision resulted in both benchmarks staying at the same levels as in August.
India has cautioned Washington that the proposed tariffs on nations importing Russian crude could negatively impact bilateral relations and interfere with worldwide commodity markets. This warning came in the wake of the United States House of Representatives passing the Sanctioning Russia and Iran Act of 2026, which authorizes the government to impose tariffs of up to 100 percent on significant purchasers of Russian energy. India commits to ensuring its energy security for its citizens while retaining the flexibility to buy oil from global suppliers based on prevailing market conditions.
Spot gold dropped 1 percent to $4,249 per ounce, reaching multi-session lows amid rising sovereign yields and tighter monetary policies. The ascent in interest rates has elevated the opportunity cost of holding physical gold, prompting institutional investors to reallocate assets into fixed-income instruments. Saudi Arabia, Oman, Qatar, and Bahrain quickly increased their key benchmark interest rates in response to the Federal Reserve’s decision. The sustained strength of sovereign bond yields and foreign exchange rates has dampened physical commodity demand, curbing upward momentum in spot gold prices.
UAE and India deepen trade, investment and strategic cooperation through high-level talks. During their talks, the leaders examined the progress under the UAE-India Comprehensive Economic Partnership Agreement, known as CEPA. They also highlighted the deep-rooted political, commercial, cultural, energy, and people-to-people connections shared by both countries. Both sides explored potential avenues to strengthen cooperation in key areas that have become central to their bilateral relations. The discussion also touched on topics of mutual interest as the two governments maintained ongoing engagement across economic and strategic domains. Sheikh Khaled led the UAE delegation at the BRICS Summit representing UAE President Sheikh Mohamed bin Zayed Al Nahyan. Modi expressed appreciation for the UAE’s participation during India’s 2026 BRICS chairmanship. The leaders concurred that they would continue collaborating through the group on shared priorities and initiatives. They also recalled Sheikh Mohamed’s visit to India in January 2026 and Modi’s visit to the UAE in May 2026. Investment growth and strategic sectors feature prominently The discussions underlined new investment ventures between the UAE and India. The leaders welcomed International Holding Company’s announced plan for an $11.5 billion integrated greenfield aluminium project in Odisha, described by India as the country’s largest integrated aluminium investment. The role of L’Imad, the UAE’s newest sovereign wealth fund, in supporting bilateral investments and economic cooperation across sectors identified by both governments was also on the agenda. Opportunities in defence, space, nuclear energy, technology, and