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The cost of US President Donald Trump's war on Iran has risen to an estimated $38.1 billion till August, according to a report released by the nonpartisan Congressional Budget Office (CBO). According to the report, the war could cost America another $2 billion to $3 billion for each additional month of fighting.The CBO lists the report, "Estimating the Costs of Combat Operations Against Iran," among its current defence and national security studies.Of the over $38 billion spent on the war, more than half was spent on replacing missiles and other munitions used in the conflict. Meanwhile, increased flying hours accounted for another $10.4 billion. Higher fuel prices added an estimated $2.7 billion, according to the figures in the report.Also read | <a href="https://www.wionews.com/world/trump-s-iran-war-faces-fresh-house-rebuke-7-republicans-join-democrats-in-push-to-end-conflict-ahead-of-midterms-1789528209869">Trump's Iran war faces fresh House rebuke; 7 Republicans join Democrats in push to end conflict ahead of midterms</a>The conflict has also placed heavy pressure on the US missile-defence stockpile. The CBO estimates that as much as two-thirds of the nation's missile-defence interceptors have been used since June 2025, largely as the US helped defend Israel against Iranian attacks."Rebuilding DoD’s inventory of interceptors would probably take at least five years, even if production was increased," the CBO said in the report, requested by Rep. Brendan Boyle, the Pennsylvania Democrat and top Democrat on the House Budget Committee.<h2>Missile shortages could affect US readiness</h2>The depletion of interceptor stocks could have wider implications for US military planning, particularly in a potential conflict involving an adversary with large inventories of ballistic and cruise missiles.The CBO specifically pointed to China and a possible conflict over Taiwan, warning that shortages could become "especially problematic" under those circumstances.The pace of weapons use has also strained the broader US defence industrial base. A recent Defense Department inspector general assessment cited shortages of solid rocket motors, explosives, propellants and skilled workers as obstacles to rebuilding stockpiles.Also read | <a href="https://www.wionews.com/world/one-third-of-israelis-call-jewish-west-bank-rioters-israeli-terrorists-poll-finds-1789533323445">One-third of Israelis call Jewish West Bank rioters ‘Israeli terrorists': Poll</a><h2>War pushing up inflation and fuel prices</h2>The economic effects of the conflict are extending beyond the Pentagon. Disruptions to oil and natural gas shipments through the Strait of Hormuz, along with interruptions to shipping through the Red Sea, have pushed up energy and transportation costs.The CBO estimates that by the first quarter of 2027, the war could add 0.5 percentage points to year-over-year inflation as measured by the personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge. Core PCE inflation could be 0.3 percentage points higher, it said."The price of almost every product reflects shipping costs," the CBO said. By early 2027, gasoline and other fuels are expected to account for about 40% of the conflict’s impact on consumer prices, according to the analysis.

The US-Iran war has already cost Washington tens of billions of dollars, with the bill still rising. But the biggest concern may extend beyond money, as US missile-defence stocks face a potentially years-long recovery.

The cost of US President Donald Trump's war on Iran has risen to an estimated $38.1 billion till August, according to a report released by the nonpartisan Congressional Budget Office (CBO). According to the report, the war could cost America another $2 billion to $3 billion for each additional month of fighting. The CBO lists the report, "Estimating the Costs of Combat Operations Against Iran," among its current defence and national security studies. Of the over $38 billion spent on the war, more than half was spent on replacing missiles and other munitions used in the conflict. Meanwhile, increased flying hours accounted for another $10.4 billion. Higher fuel prices added an estimated $2.7 billion, according to the figures in the report. Also read | Trump's Iran war faces fresh House rebuke; 7 Republicans join Democrats in push to end conflict ahead of midterms The conflict has also placed heavy pressure on the US missile-defence stockpile. The CBO estimates that as much as two-thirds of the nation's missile-defence interceptors have been used since June 2025, largely as the US helped defend Israel against Iranian attacks. "Rebuilding DoD’s inventory of interceptors would probably take at least five years, even if production was increased," the CBO said in the report, requested by Rep. Brendan Boyle, the Pennsylvania Democrat and top Democrat on the House Budget Committee. Missile shortages could affect US readiness The depletion of interceptor stocks could have wider implications for US military planning, particularly in a potential conflict involving an adversary with large inventories of ballistic and cruise missiles. The CBO specifically pointed to China and a possible conflict over Taiwan, warning that shortages could become "especially problematic" under those circumstances. The pace of weapons use has also strained the broader US defence industrial base. A recent Defense Department inspector general assessment cited shortages of solid rocket motors, explosives, propellants and skilled workers as obstacles to rebuilding stockpiles. Also read | One-third of Israelis call Jewish West Bank rioters ‘Israeli terrorists': Poll War pushing up inflation and fuel prices The economic effects of the conflict are extending beyond the Pentagon. Disruptions to oil and natural gas shipments through the Strait of Hormuz, along with interruptions to shipping through the Red Sea, have pushed up energy and transportation costs. The CBO estimates that by the first quarter of 2027, the war could add 0.5 percentage points to year-over-year inflation as measured by the personal consumption expenditures price index, the Federal Reserve’s preferred inflation gauge. Core PCE inflation could be 0.3 percentage points higher, it said. "The price of almost every product reflects shipping costs," the CBO said. By early 2027, gasoline and other fuels are expected to account for about 40% of the conflict’s impact on consumer prices, according to the analysis.

The US-Iran war has already cost Washington tens of billions of dollars, with the bill still rising. But the biggest concern may extend beyond money, as US missile-defence stocks face a potentially years-long recovery.

Trump’s Iran war has cost US $38.1 billion, CBO estimates; missile stocks face major strain

US Treasury Secretary Scott Bessent on Tuesday connected the high US government bond yields to broader “global issues” but did not identify what was triggering the massive bond market sell-off. Bessent made the comments on Tuesday while appearing before the House Financial Services Committee, as the 10-year Treasury yield climbed above 5 per cent to the highest level since July 2007, exactly before the stock market topped out and crashed into the Great Recession.Brent Crude has reached over $100 a barrel as conflict involving Iran has disrupted the global energy supply. The average 30-year fixed mortgage rate crossed 7 per cent the prior week. The US Treasury executed an aggressive bond buyback program of up to $6 billion, specifically targeting older, less-liquid bonds maturing in 10 to 30 years. Despite executing the massive buyback, the 10-year bond yield is around 5.04 per cent on Tuesday.&nbsp;When Bond yields are higher, meaning people are doubtful about buying long-term US government debt, the Treasury executes a buyback of bonds using T-bills to create demand for government debt. However, the scale of the buyback is unprecedented. &nbsp;In August 2026, it shifted its maximum buyback cap from the previously planned $2 billion baseline up to $6 billion for targeted long-dated operations.Also Read: <a href="https://www.wionews.com/india-news/west-bengal-ips-bushra-bano-transfer-islamic-greetings-backlash-1789485966243">West Bengal IPS officer Bushra Bano transferred after objections to ‘Assalamualaikum’, ‘Inshallah’</a>"There was the counterfactual of what it would have done," said Bessent defending the US Treasury Department's purchase of long-dated Treasury bonds, arguing that yields would have climbed further if they did not do so. "And then we proceeded to have two of the most successful Treasury bond auctions that we've had in 20 years." He also said he is working on deficit-reduction plans that he believes would ease yields. "I believe that the 10-year yield reflects many things, but the need to address the deficit is one of those," he said.However, Wall Street analysts were zeroing in on a dropping cover ratio for long-dated bond purchases; Bessent focused on the broader health of regular government debt auctions to prove that international investor confidence is not broken. US stocks tumbled with the latest yield spike, with the Dow shedding more than 500 points by around midday, while the S&amp;P 500 slid 0.45 per cent and the Nasdaq Composite dropped 0.73 per cent.&nbsp;Markets are hinting at a dip that is long overdue. The combination of 5.04 per cent benchmark bond yields, $104+ oil, and a falling stock market forms a classic macroeconomic squeeze that historically pops asset bubbles. “We're entering late innings of the cycle, arguing for multiple compression,” Wells Fargo wrote, flagging the risk of a 5 per cent to 10 per cent drawdown in stocks this year.

US 10-year Treasury yields crossed 5% as oil topped $100 a barrel and stocks fell, raising concerns over inflation, deficits and an overdue market correction.

US Treasury Secretary Scott Bessent on Tuesday connected the high US government bond yields to broader “global issues” but did not identify what was triggering the massive bond market sell-off. Bessent made the comments on Tuesday while appearing before the House Financial Services Committee, as the 10-year Treasury yield climbed above 5 per cent to the highest level since July 2007, exactly before the stock market topped out and crashed into the Great Recession. Brent Crude has reached over $100 a barrel as conflict involving Iran has disrupted the global energy supply. The average 30-year fixed mortgage rate crossed 7 per cent the prior week. The US Treasury executed an aggressive bond buyback program of up to $6 billion, specifically targeting older, less-liquid bonds maturing in 10 to 30 years. Despite executing the massive buyback, the 10-year bond yield is around 5.04 per cent on Tuesday. When Bond yields are higher, meaning people are doubtful about buying long-term US government debt, the Treasury executes a buyback of bonds using T-bills to create demand for government debt. However, the scale of the buyback is unprecedented. In August 2026, it shifted its maximum buyback cap from the previously planned $2 billion baseline up to $6 billion for targeted long-dated operations. Also Read: West Bengal IPS officer Bushra Bano transferred after objections to ‘Assalamualaikum’, ‘Inshallah’ "There was the counterfactual of what it would have done," said Bessent defending the US Treasury Department's purchase of long-dated Treasury bonds, arguing that yields would have climbed further if they did not do so. "And then we proceeded to have two of the most successful Treasury bond auctions that we've had in 20 years." He also said he is working on deficit-reduction plans that he believes would ease yields. "I believe that the 10-year yield reflects many things, but the need to address the deficit is one of those," he said. However, Wall Street analysts were zeroing in on a dropping cover ratio for long-dated bond purchases; Bessent focused on the broader health of regular government debt auctions to prove that international investor confidence is not broken. US stocks tumbled with the latest yield spike, with the Dow shedding more than 500 points by around midday, while the S&P 500 slid 0.45 per cent and the Nasdaq Composite dropped 0.73 per cent. Markets are hinting at a dip that is long overdue. The combination of 5.04 per cent benchmark bond yields, $104+ oil, and a falling stock market forms a classic macroeconomic squeeze that historically pops asset bubbles. “We're entering late innings of the cycle, arguing for multiple compression,” Wells Fargo wrote, flagging the risk of a 5 per cent to 10 per cent drawdown in stocks this year.

US 10-year Treasury yields crossed 5% as oil topped $100 a barrel and stocks fell, raising concerns over inflation, deficits and an overdue market correction.

US Treasury yields cross 5% as Scott Bessent warns of ‘global issues’ impacting bonds

New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access.Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils.&nbsp;Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow.&nbsp;Also Read: <a href="https://www.wionews.com/world/imran-khan-s-sons-accuse-asim-munir-of-holding-personal-grudge-against-imprisoned-father-1789484359759">Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father</a>&nbsp;China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.&nbsp;The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.”&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/j-k-cm-omar-abdullah-praises-centre-over-pahalgam-attack-condemnation-at-brics-in-presence-of-pakistan-s-allies-1789478311956">J&amp;K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies</a>&nbsp;Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year.&nbsp;BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade.&nbsp;Also Read: <a href="https://www.wionews.com/world/ai-has-the-potential-to-kill-us-all-ex-deepmind-researcher-sounds-alarm-on-superintelligence-threat-1789475011718">‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat</a>&nbsp;New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December.&nbsp;&nbsp;A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

New Delhi: India’s imports from Russia jumped 57% in the first five months of the financial year, official data show, deepening an energy import-driven relationship even as New Delhi presses Moscow and Beijing for greater market access. Commerce ministry figures released on Tuesday put merchandise imports from Russia at $41.44bn from April-August 2026-2027, up from $26.45bn a year (Apr-Aug 2025-26) ago. Officials said the rise was led by the import of petroleum, fertilisers and vegetable oils. Bilateral trade is now approaching $70bn a year, with India's import of Russian energy that has significantly increased since the outbreak of conflict in Ukraine in 2022. The surge has left India with a large deficit. External Affairs Minister S Jaishankar raised the imbalance and sought better access for Indian goods during recent inter-governmental talks in Moscow. Also Read: Imran Khan’s sons accuse Asim Munir of holding ‘personal grudge’ against imprisoned father China remained India’s biggest source of imports over the same period, at $65.49bn against $51.56bn a year earlier. The United States followed at $28.09bn, then the United Arab Emirates at $24.36bn and South Korea at $12.10bn. On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods. The China figures sit at the centre of a cautious diplomatic thaw. Over the weekend Prime Minister Narendra Modi and President Xi Jinping held their third bilateral meeting since 2024, on the sidelines of the BRICS summit in Delhi. An Indian readout said the two leaders “underlined the need to address each other’s concerns, including structural trade imbalance and supply chain issues, and facilitation of meaningful and predictable market access.” Also Read: J&K CM Omar Abdullah praises Centre over Pahalgam attack condemnation at BRICS in presence of Pakistan’s allies Commerce Minister Piyush Goyal then met his Chinese counterpart, Wang Wentao. Indian commerce officials described the meeting as an “initial first trading meeting” after a period of “gradual confidence building.” “We are open to engaging with them to find solutions to trade imbalances,” one official said. Both sides, they added, wanted to work on structural concerns. India’s deficit with China exceeded $112bn last financial year. BRICS itself featured in the trade numbers. Exports to all members rose 13% to $34.53bn in April–August; shipments to the original four partners, Brazil, Russia, China and South Africa, grew 34%. At the weekend BRICS summit in the Indian national capital, member countries focused on more intra-BRICS trade. Also Read: ‘AI has the potential to kill us all’: Ex-DeepMind researcher sounds alarm on superintelligence threat New Delhi is also advancing several other talks for free trade agreements and larger trade pacts. Forty-eight Canadian officials are in Delhi for talks on a Comprehensive economic partnership agreement. 2 chapters of a potential agreement are complete and both sides hope to finish by year-end. An India–EU free-trade deal is “moving as per plan” and is also expected to be signed by December. A pact with New Zealand is due to take effect in the second half of October. Indian Trade Minister Goyal will travel to the United States for a G20 trade ministers’ meeting, where he is expected to meet his counterpart to discuss bilateral issues, including the interim trade arrangement that was announced in February.

On the export side, the US was the largest market at $42.79bn, ahead of the UAE ($13.59bn), China ($9.61bn), Singapore ($9.50bn) and the Netherlands ($6.95bn). In South Asia, Bangladesh was the top destination, taking $4.72bn of Indian goods.

India’s imports from Russia jump 57% in five months; China remains top import source

Indian government on Monday (September 14) notified changes in its payments legislation, specifying that banks cannot charge fees on payments ​via Unified Payments Interface (UPI) transactions of up to 2,000 ‌rupees ($20.93) and RuPay debit cards. The announcement of legislation changed the earlier provision preventing banks from charging fees on digital payments using the popular UPI platform, paving the way ​for charges to be imposed on larger transfers. The government has issued the notification under Section 10A of the Payment and Settlement Systems Act, 2007. “In exercise of the powers conferred by Section 10A of the Payment and Settlement Systems Act, 2007 (51 of 2007), the Central Government hereby specifies the following electronic modes of payment, namely: (i) Debit Card powered by RuPay; and (ii) Unified Payments Interface (UPI) transactions up to Rs. 2,000,” the Ministry of Finance said.&nbsp;Also read: <a href="https://www.wionews.com/india-news/now-trump-is-copying-us-shivakumar-links-us-5-000-plan-to-congress-guarantees-1789410350683">'Now Trump is copying us': Shivakumar links US $5,000 plan to Congress guarantees &nbsp;</a> “No bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment by using the electronic modes of payment specified in the paragraph above,” it added. The notification ensures that UPI transactions up to Rs 2,000 continue to remain free of any charges, while opening the door for a possible small Merchant Discount Rate (MDR) to be levied on select UPI merchant transactions above a certain threshold. Meanwhile, reports suggest that merchant fees ​on larger ⁠UPI transactions could generate 50 billion rupees to 100 billion rupees annually for the payments ​industry.

The notification ensures that UPI transactions up to Rs 2,000 continue to remain free of any charges, while opening the door for a possible small Merchant Discount Rate (MDR) to be levied on select UPI merchant transactions above a certain threshold.

Indian government on Monday (September 14) notified changes in its payments legislation, specifying that banks cannot charge fees on payments via Unified Payments Interface (UPI) transactions of up to 2,000 ‌rupees ($20.93) and RuPay debit cards. The announcement of legislation changed the earlier provision preventing banks from charging fees on digital payments using the popular UPI platform, paving the way for charges to be imposed on larger transfers. The government has issued the notification under Section 10A of the Payment and Settlement Systems Act, 2007. “In exercise of the powers conferred by Section 10A of the Payment and Settlement Systems Act, 2007 (51 of 2007), the Central Government hereby specifies the following electronic modes of payment, namely: (i) Debit Card powered by RuPay; and (ii) Unified Payments Interface (UPI) transactions up to Rs. 2,000,” the Ministry of Finance said. Also read: 'Now Trump is copying us': Shivakumar links US $5,000 plan to Congress guarantees “No bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment by using the electronic modes of payment specified in the paragraph above,” it added. The notification ensures that UPI transactions up to Rs 2,000 continue to remain free of any charges, while opening the door for a possible small Merchant Discount Rate (MDR) to be levied on select UPI merchant transactions above a certain threshold. Meanwhile, reports suggest that merchant fees on larger ⁠UPI transactions could generate 50 billion rupees to 100 billion rupees annually for the payments industry.

The notification ensures that UPI transactions up to Rs 2,000 continue to remain free of any charges, while opening the door for a possible small Merchant Discount Rate (MDR) to be levied on select UPI merchant transactions above a certain threshold.

UPI payments up to Rs 2,000 to stays free, but bigger transactions may soon cost you: Govt

Shares of tech companies linked to artificial intelligence (AI) witnessed sharp falls on Monday following calls by AI bosses for a slowdown in the uncontrolled development of the technology. In South Korea, shares of chipmaker SK Hynix fell 6.4% while Samsung Electronics dropped 4.1%. Japan’s Softbank, which is a major investor in OpenAI, plunged more than 10%.Tech stocks in Europe also followed the trend, as Germany’s Infineon, which designs and manufactures semiconductors, was down 7.6%, while Dutch chip giant ASML fell 5.2%.&nbsp;The US stock markets also opened down as investors reacted to the calls from tech bosses to slow down the pace of AI development.The Nasdaq, which is dominated by tech companies, witnessed a big dip in early trading, with shares falling 1.2%.The S&amp;P 500 followed with a drop of 0.7%, while the Dow Jones was down 0.27%.&nbsp;&nbsp;As for individula tech shares, Hewlett Packard was down 10%; Intel and Sandisk by 7%; Qualcomm and Micron by 6%, Oracle 5%, and Nvidia fell 3%.&nbsp;The stocks tumbled after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in the “reckless” development, citing fears the technology could soon run out of control.The South Korean Kospi stock index, which relies heavily on chip makers that supply AI companies, dropped by 3%.Shares in the big global microchip supplier Taiwan Semiconductor Manufacturing Company dropped 1.2%. Futures for the Nasdaq pointed to a 1.3% drop in the tech-heavy index when the US stock market opens.&nbsp;Also Read: <a href="https://www.wionews.com/world/want-to-reset-ties-with-india-have-engagement-based-on-mutual-interests-says-bangladesh-minister-1789326034045">‘Want to reset ties with India, have engagement based on mutual interests,’ says Bangladesh minister</a><h2>Stocks of firms threatened by rise of AI witness rally</h2>&nbsp;In contrast, there was a rally in shares of companies that have been threatened by the rise of AI, including the advertising group WPP, which rose by 3.1%, and the analytics business Relx, which rose 4.2%.&nbsp;Relx stocks fell sharply earlier this year after Anthropic launched a suite of new data and automation tools.&nbsp;The markets swung after the chief executive of Anthropic, Dario Amodei, appealed for the AI industry to “slow down”.He said that “building too fast is reckless”, warning that a swarm of AI agents could cause hundreds of billions of dollars of damage by “taking over the entire internet” in the future.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-tells-ukraine-to-stop-targeting-russian-refineries-says-attacks-causing-shortage-of-diesel-1789316749492">Trump tells Ukraine to stop targeting Russian refineries, says attacks causing shortage of diesel</a><h2>Some experts dispute claims of Anthropic’s Dario Amodei</h2>&nbsp;Though some experts disputed Amodei’s claims, investors began to price in a slowdown that would make it harder for the industry to pay for hundreds of billions of dollars in investments in AI infrastructure.&nbsp;OpenAI CEO, Sam Altman, the Google DeepMind chief, Demis Hassabis, and SpaceX boss, Elon Musk, all posted support for Amodei’s essay on slowing AI development, titled “We Must Pace the Frontier”.Altman added that he would match Amodei’s commitment to embedding outside evaluators within his company to verify safety practices.&nbsp;Also Read: <a href="https://www.wionews.com/world/india-condemns-attack-on-merchant-vessel-off-oman-coast-13-indian-crew-rescued-one-missing-1789311950141">India condemns attack on merchant vessel off Oman coast; 13 Indian crew rescued, one missing</a>&nbsp;Fears continue to grow over the hurried pace and lack of regulation in AI development.&nbsp;&nbsp;Meanwhile, China’s top intelligence official has warned that the use of AI by adversaries could pose a risk to the country’s political and social security.Chen Yixin wrote in a government outlet on Sunday that advanced US models such as Anthropic’s Mythos and OpenAI’s GPT-5.5-Cyber could pose serious risks to Beijing’s critical information infrastructure, and called for a comprehensive strengthening of AI security.&nbsp;Conversely, US President Donald Trump rejected the calls to pace AI development. The US president told reporters over the weekend, “We’re leading China in AI. We’re the most sophisticated country in the world and frankly, I want to keep it that way because whoever wins AI, wins.”

In contrast, there was a rally in shares of companies that have been threatened by the rise of AI, including the advertising group WPP, which rose by 3.1%, and the analytics business Relx, which rose 4.2%. Relx stocks fell sharply earlier this year after Anthropic launched a suite of tools.

Shares of tech companies linked to artificial intelligence (AI) witnessed sharp falls on Monday following calls by AI bosses for a slowdown in the uncontrolled development of the technology. In South Korea, shares of chipmaker SK Hynix fell 6.4% while Samsung Electronics dropped 4.1%. Japan’s Softbank, which is a major investor in OpenAI, plunged more than 10%. Tech stocks in Europe also followed the trend, as Germany’s Infineon, which designs and manufactures semiconductors, was down 7.6%, while Dutch chip giant ASML fell 5.2%. The US stock markets also opened down as investors reacted to the calls from tech bosses to slow down the pace of AI development. The Nasdaq, which is dominated by tech companies, witnessed a big dip in early trading, with shares falling 1.2%. The S&P 500 followed with a drop of 0.7%, while the Dow Jones was down 0.27%. As for individula tech shares, Hewlett Packard was down 10%; Intel and Sandisk by 7%; Qualcomm and Micron by 6%, Oracle 5%, and Nvidia fell 3%. The stocks tumbled after the bosses of Anthropic, OpenAI and SpaceX called for a slowdown in the “reckless” development, citing fears the technology could soon run out of control. The South Korean Kospi stock index, which relies heavily on chip makers that supply AI companies, dropped by 3%. Shares in the big global microchip supplier Taiwan Semiconductor Manufacturing Company dropped 1.2%. Futures for the Nasdaq pointed to a 1.3% drop in the tech-heavy index when the US stock market opens. Also Read: ‘Want to reset ties with India, have engagement based on mutual interests,’ says Bangladesh minister Stocks of firms threatened by rise of AI witness rally In contrast, there was a rally in shares of companies that have been threatened by the rise of AI, including the advertising group WPP, which rose by 3.1%, and the analytics business Relx, which rose 4.2%. Relx stocks fell sharply earlier this year after Anthropic launched a suite of new data and automation tools. The markets swung after the chief executive of Anthropic, Dario Amodei, appealed for the AI industry to “slow down”. He said that “building too fast is reckless”, warning that a swarm of AI agents could cause hundreds of billions of dollars of damage by “taking over the entire internet” in the future. Also Read: Trump tells Ukraine to stop targeting Russian refineries, says attacks causing shortage of diesel Some experts dispute claims of Anthropic’s Dario Amodei Though some experts disputed Amodei’s claims, investors began to price in a slowdown that would make it harder for the industry to pay for hundreds of billions of dollars in investments in AI infrastructure. OpenAI CEO, Sam Altman, the Google DeepMind chief, Demis Hassabis, and SpaceX boss, Elon Musk, all posted support for Amodei’s essay on slowing AI development, titled “We Must Pace the Frontier”. Altman added that he would match Amodei’s commitment to embedding outside evaluators within his company to verify safety practices. Also Read: India condemns attack on merchant vessel off Oman coast; 13 Indian crew rescued, one missing Fears continue to grow over the hurried pace and lack of regulation in AI development. Meanwhile, China’s top intelligence official has warned that the use of AI by adversaries could pose a risk to the country’s political and social security. Chen Yixin wrote in a government outlet on Sunday that advanced US models such as Anthropic’s Mythos and OpenAI’s GPT-5.5-Cyber could pose serious risks to Beijing’s critical information infrastructure, and called for a comprehensive strengthening of AI security. Conversely, US President Donald Trump rejected the calls to pace AI development. The US president told reporters over the weekend, “We’re leading China in AI. We’re the most sophisticated country in the world and frankly, I want to keep it that way because whoever wins AI, wins.”

In contrast, there was a rally in shares of companies that have been threatened by the rise of AI, including the advertising group WPP, which rose by 3.1%, and the analytics business Relx, which rose 4.2%. Relx stocks fell sharply earlier this year after Anthropic launched a suite of tools.

Tech stocks fall after AI bosses call for a slowdown in ‘reckless’ progress

AI stocks fell sharply across global markets on Monday after Anthropic CEO Dario Amodei called for a slower pace of frontier AI development. The warning was backed by OpenAI CEO Sam Altman and Elon Musk, creating an unusual show of agreement among major AI leaders.Investors are now questioning what a slowdown could mean for the massive spending on chips, data centres and computing power that has fuelled the AI boom.<h2>AI stocks fall across Asia and Europe</h2> In Asia, SoftBank shares fell about 12% in Tokyo. The company is one of the biggest investors in OpenAI, with a roughly $64.6 billion commitment. South Korea’s AI-linked giants also came under pressure. SK Hynix and Samsung Electronics fell sharply as investors reassessed the outlook for memory chips used in AI infrastructure.The selling spread to Europe. ASML, Infineon and Nokia were among the companies hit, while data-centre suppliers such as Siemens Energy and Schneider Electric also declined. US-listed AI and semiconductor stocks were lower in premarket trading, with Micron, Intel and Nvidia among the major names under pressure.<h2>Why are AI leaders asking to slow down?</h2>The debate intensified after Anthropic researcher Jacob Coxon resigned, saying AI companies were moving too quickly and “gambling with our lives”. Anthropic researcher Evan Hubinger then said he personally estimated there was a greater than 10% chance that AI could “kill all humans” within the next decade. Those are individual risk assessments, not established predictions. Amodei’s response was more focused on controlling the pace of development. In his essay, “We Must Pace the Frontier,” he argued that AI capabilities are advancing quickly enough to create serious risks, including loss of control, cyberattacks and bioterrorism.<h2>Sam Altman says slowdown does not mean stopping</h2>OpenAI’s Sam Altman backed Amodei, saying AI companies need to “pace the frontier”. But Altman stressed that pacing does not mean stopping AI development. He said progress will continue, although it should be slower than it otherwise might be because safety testing and monitoring add costs and time.That distinction matters for investors. A slower development cycle could reduce demand for some new chips and computing capacity. But analysts argue that AI infrastructure demand remains extremely strong, particularly for inference the computing needed to actually run AI models for users. “The pace of change is still going to be vast,” Quilter Cheviot technology researcher Ben Barringer told CNBC, arguing that demand for inference remains greater than available supply. For markets, the immediate question is therefore not whether the AI boom is ending. It is whether the enormous expectations already priced into AI companies can survive a world where the industry deliberately chooses to move more carefully. &nbsp;

AI stocks fell globally after Anthropic CEO Dario Amodei urged a slower pace for frontier AI development, backed by OpenAI’s Sam Altman and Elon Musk. The warnings have raised fresh investor concerns about AI spending, chips and data-centre demand.

AI stocks fell sharply across global markets on Monday after Anthropic CEO Dario Amodei called for a slower pace of frontier AI development. The warning was backed by OpenAI CEO Sam Altman and Elon Musk, creating an unusual show of agreement among major AI leaders. Investors are now questioning what a slowdown could mean for the massive spending on chips, data centres and computing power that has fuelled the AI boom. AI stocks fall across Asia and Europe In Asia, SoftBank shares fell about 12% in Tokyo. The company is one of the biggest investors in OpenAI, with a roughly $64.6 billion commitment. South Korea’s AI-linked giants also came under pressure. SK Hynix and Samsung Electronics fell sharply as investors reassessed the outlook for memory chips used in AI infrastructure. The selling spread to Europe. ASML, Infineon and Nokia were among the companies hit, while data-centre suppliers such as Siemens Energy and Schneider Electric also declined. US-listed AI and semiconductor stocks were lower in premarket trading, with Micron, Intel and Nvidia among the major names under pressure. Why are AI leaders asking to slow down? The debate intensified after Anthropic researcher Jacob Coxon resigned, saying AI companies were moving too quickly and “gambling with our lives”. Anthropic researcher Evan Hubinger then said he personally estimated there was a greater than 10% chance that AI could “kill all humans” within the next decade. Those are individual risk assessments, not established predictions. Amodei’s response was more focused on controlling the pace of development. In his essay, “We Must Pace the Frontier,” he argued that AI capabilities are advancing quickly enough to create serious risks, including loss of control, cyberattacks and bioterrorism. Sam Altman says slowdown does not mean stopping OpenAI’s Sam Altman backed Amodei, saying AI companies need to “pace the frontier”. But Altman stressed that pacing does not mean stopping AI development. He said progress will continue, although it should be slower than it otherwise might be because safety testing and monitoring add costs and time. That distinction matters for investors. A slower development cycle could reduce demand for some new chips and computing capacity. But analysts argue that AI infrastructure demand remains extremely strong, particularly for inference the computing needed to actually run AI models for users. “The pace of change is still going to be vast,” Quilter Cheviot technology researcher Ben Barringer told CNBC, arguing that demand for inference remains greater than available supply. For markets, the immediate question is therefore not whether the AI boom is ending. It is whether the enormous expectations already priced into AI companies can survive a world where the industry deliberately chooses to move more carefully.

AI stocks fell globally after Anthropic CEO Dario Amodei urged a slower pace for frontier AI development, backed by OpenAI’s Sam Altman and Elon Musk. The warnings have raised fresh investor concerns about AI spending, chips and data-centre demand.

SoftBank, Samsung, Nvidia stocks fall as AI CEOs urge slower development

One might wonder what's common between Muammar &nbsp;Gaddafi and ecstasy pills, but a recent haul of the party drug bearing the visage of the late Libyan leader is bringing to focus Libya's emerging role as a narcotics hub. Authorities of the north African nation recently seized about 100,000 ecstasy pills moulded in the shape of Gaddafi’s face, hair and famous Bedouin robes. The shipment came by sea from an unnamed European country, reported Reuters and other outlets.<h2>How the Gaddafi-shaped ecstasy shipment was seized</h2>The reports said that security agents received a tip-off that a gang planned to move the drugs by sea, and tracked the shipment until it reached a Libyan port. Officers intercepted a cargo van and found the pills hidden inside, said Al Rada for Combating Terrorism and Organised Crime. About 100,000 XTC pills were seized and suspects referred to prosecutors. The pills were brown and moulded with Gaddafi’s distinctive features.&nbsp;<a href="https://www.wionews.com/videos/pakistan-plays-mediator-in-libya-even-as-internal-turmoil-grows-1783447906410/embed">https://www.wionews.com/videos/pakistan-plays-mediator-in-libya-even-as-internal-turmoil-grows-1783447906410/embed</a><h2>After Gaddafi's death, Libya became a transit hub for synthetic drugs</h2>Gaddafi was one of the last-standing dictators who fell in the wake of the Arab Spring-inspired protests of 2010-11. He was captured and killed by rebel fighters helped by US-led NATO forces in October 2011. Since his death, Libya has been ravaged by instability and civil conflict.Currently, it is a de facto divided state, with the Tripoli-based Government of National Unity controlling the west, and forces linked to Khalifa Haftar in the east and much of the south.Amid this, the narcotic underworld appears to have grown. The seizure of ‘Gaddafi pills’ highlights Libya’s growing role as a transit hub for synthetic drugs and other narcotics moving across Africa, Europe, the Middle East and beyond.Also read: <a href="https://www.wionews.com/world/sarah-khalifa-death-sentence-egypt-drug-case-1788703881351">Egyptian TV presenter Sarah Khalifa sentenced to death in major drug case</a><h2>Libya, the regional narco hub: From cannabis to cocaine and synthetics</h2>The United Nations Office on Drugs and Crime (UNODC) said in a report this January that Libya had become a major transit hub for synthetic drugs and other narcotics. Trafficking networks have exploited Libya’s fragmented governance, porous borders, long coastline and weak institutions.Cannabis resin, cocaine, MDMA/ecstasy, Captagon and illicitly sourced pharmaceuticals are moving through Libya. The trafficking networks connect suppliers in the Americas with markets in Western and South-Eastern Europe, the Middle East and Africa.Cocaine shipments now arrive directly from Ecuador, Colombia and Brazil at Libyan ports. Consignments move through West African ports and overland routes across Niger and Chad.In 2024, &nbsp;cocaine seizures in Libya were estimated to have street value of up to $7.8 million.&nbsp;Also read: <a href="https://www.wionews.com/india-news/love-lies-narcotics-police-uncover-plot-to-frame-newlywed-husband-in-kashmir-1786372376796">Love, lies &amp; narcotics: Police uncover plot to frame newlywed husband in Kashmir</a><h2>Ecstasy, pharmaceuticals and synthetic drugs surge in Libya</h2>This is not the first time in recent years that synthetic drugs were seized in Libya. In March 2023, authorities seized 1.7 million ecstasy tablets at Misrata port in five second-hand cars aboard a commercial vessel. Another 600,300 tablets were later seized from the same vessel at Benghazi.Pharmaceutical trafficking is also widespread, with more than 4 million tramadol pills seized in 2023. Benghazi authorities found 15 million pregabalin tablets in 2023 and another 8.6 million in January 2024, having a combined black-market retail value of around &nbsp;$34.5 million.<h2>Libya, a new narco state in the making?</h2>Over the past decade, Libyan ports such as Misrata, Benghazi, al-Khoms and Tobruk have become key entry and redistribution points.Drug trafficking in Libya is slowly becoming a lucrative, albeit dangerous industry, if one goes by the reports. The clandestine industry overlaps with migrant smuggling. Proceeds from narcotics are fuelling firearms trafficking and illicit currency markets. Armed groups are being strengthened, further weakening Libya’s national institutions. &nbsp;

The recent seizure of ecstasy pills moulded with Muammar Gaddafi’s face highlights Libya's growing role as a transit hub for synthetic drugs moving between Europe, Africa and the Americas. Is the strife-torn north African nation turning into a narco-state?

One might wonder what's common between Muammar Gaddafi and ecstasy pills, but a recent haul of the party drug bearing the visage of the late Libyan leader is bringing to focus Libya's emerging role as a narcotics hub. Authorities of the north African nation recently seized about 100,000 ecstasy pills moulded in the shape of Gaddafi’s face, hair and famous Bedouin robes. The shipment came by sea from an unnamed European country, reported Reuters and other outlets. How the Gaddafi-shaped ecstasy shipment was seized The reports said that security agents received a tip-off that a gang planned to move the drugs by sea, and tracked the shipment until it reached a Libyan port. Officers intercepted a cargo van and found the pills hidden inside, said Al Rada for Combating Terrorism and Organised Crime. About 100,000 XTC pills were seized and suspects referred to prosecutors. The pills were brown and moulded with Gaddafi’s distinctive features. https://www.wionews.com/videos/pakistan-plays-mediator-in-libya-even-as-internal-turmoil-grows-1783447906410/embed After Gaddafi's death, Libya became a transit hub for synthetic drugs Gaddafi was one of the last-standing dictators who fell in the wake of the Arab Spring-inspired protests of 2010-11. He was captured and killed by rebel fighters helped by US-led NATO forces in October 2011. Since his death, Libya has been ravaged by instability and civil conflict. Currently, it is a de facto divided state, with the Tripoli-based Government of National Unity controlling the west, and forces linked to Khalifa Haftar in the east and much of the south. Amid this, the narcotic underworld appears to have grown. The seizure of ‘Gaddafi pills’ highlights Libya’s growing role as a transit hub for synthetic drugs and other narcotics moving across Africa, Europe, the Middle East and beyond. Also read: Egyptian TV presenter Sarah Khalifa sentenced to death in major drug case Libya, the regional narco hub: From cannabis to cocaine and synthetics The United Nations Office on Drugs and Crime (UNODC) said in a report this January that Libya had become a major transit hub for synthetic drugs and other narcotics. Trafficking networks have exploited Libya’s fragmented governance, porous borders, long coastline and weak institutions. Cannabis resin, cocaine, MDMA/ecstasy, Captagon and illicitly sourced pharmaceuticals are moving through Libya. The trafficking networks connect suppliers in the Americas with markets in Western and South-Eastern Europe, the Middle East and Africa. Cocaine shipments now arrive directly from Ecuador, Colombia and Brazil at Libyan ports. Consignments move through West African ports and overland routes across Niger and Chad. In 2024, cocaine seizures in Libya were estimated to have street value of up to $7.8 million. Also read: Love, lies & narcotics: Police uncover plot to frame newlywed husband in Kashmir Ecstasy, pharmaceuticals and synthetic drugs surge in Libya This is not the first time in recent years that synthetic drugs were seized in Libya. In March 2023, authorities seized 1.7 million ecstasy tablets at Misrata port in five second-hand cars aboard a commercial vessel. Another 600,300 tablets were later seized from the same vessel at Benghazi. Pharmaceutical trafficking is also widespread, with more than 4 million tramadol pills seized in 2023. Benghazi authorities found 15 million pregabalin tablets in 2023 and another 8.6 million in January 2024, having a combined black-market retail value of around $34.5 million. Libya, a new narco state in the making? Over the past decade, Libyan ports such as Misrata, Benghazi, al-Khoms and Tobruk have become key entry and redistribution points. Drug trafficking in Libya is slowly becoming a lucrative, albeit dangerous industry, if one goes by the reports. The clandestine industry overlaps with migrant smuggling. Proceeds from narcotics are fuelling firearms trafficking and illicit currency markets. Armed groups are being strengthened, further weakening Libya’s national institutions.

The recent seizure of ecstasy pills moulded with Muammar Gaddafi’s face highlights Libya's growing role as a transit hub for synthetic drugs moving between Europe, Africa and the Americas. Is the strife-torn north African nation turning into a narco-state?

‘Gaddafi ecstasy pills’ highlight Libya’s growing role in drug trafficking in Africa, Europe and beyond

SoftBank shares plunged nearly 12% in Tokyo on Monday, as investors reacted to an unexpected new risk for one of the company's biggest bets: a possible slowdown in the race to build increasingly powerful AI.&nbsp;The Japanese technology giant has committed $64.6 billion to OpenAI, giving it an expected stake of about 13%. Now, OpenAI CEO Sam Altman has backed calls to slow the pace of frontier AI development and said OpenAI will not go public in 2026. That combination has made SoftBank one of the clearest stock-market proxies for investor confidence in the continued rapid expansion of OpenAI and the wider AI industry.<h2>SoftBank shares fall sharply in Tokyo</h2>SoftBank did not trade for the first 19 minutes of Monday's session as heavy selling pressure built up.&nbsp;When trading began, the shares opened at 5,926 yen, down 9.4% from Friday's close of 6,540 yen. They later fell as low as 5,720 yen before trading around 5,781 yen, down 11.6%. The fall was much steeper than declines in major Asian AI-related stocks. TSMC was down about 1%, while SK hynix fell around 6%. That gap matters. It suggests investors were not simply selling semiconductor stocks. They were also reassessing companies whose valuations depend heavily on the continued acceleration of frontier AI.<h2>Why OpenAI matters so much to SoftBank</h2>SoftBank announced in February that it would invest another $30 billion in OpenAI, taking its cumulative investment to $64.6 billion and its expected ownership to around 13%. The new investment was agreed at a $730 billion pre-money valuation.The remaining investment is structured in three $10 billion tranches. SoftBank completed the first tranche in April, with the second scheduled for July and the third for October. The shares SoftBank receives are preferred shares that are designed to convert into common stock if OpenAI conducts an IPO or related listing. That makes Altman's latest IPO comments particularly important.<h2>No OpenAI IPO this year</h2>Altman said an OpenAI listing in 2026 would be “ill-advised” given the current focus on AI safety. He also backed Anthropic CEO Dario Amodei's call to “pace the frontier” of AI development. Amodei has proposed independent safety evaluators with ongoing access to frontier AI companies, along with greater coordination between governments and AI developers. Altman said OpenAI would adopt the independent-evaluator approach.<h2>For SoftBank, the issue is therefore bigger than one bad trading session</h2>The company is making an enormous investment in a private AI company while the industry's leaders are openly debating whether the technology should move more slowly. SoftBank's October payment to OpenAI is also approaching, with another $10 billion scheduled under the investment agreement. The market's message on Monday was simple: if the AI race slows, companies most exposed to its rapid expansion may have the most to lose.

SoftBank shares plunged nearly 12% in Tokyo as investors reacted to calls to slow frontier AI development. The fall puts fresh focus on SoftBank’s $64.6 billion OpenAI investment, delayed IPO prospects and another $10 billion payment due in October.

SoftBank shares plunged nearly 12% in Tokyo on Monday, as investors reacted to an unexpected new risk for one of the company's biggest bets: a possible slowdown in the race to build increasingly powerful AI. The Japanese technology giant has committed $64.6 billion to OpenAI, giving it an expected stake of about 13%. Now, OpenAI CEO Sam Altman has backed calls to slow the pace of frontier AI development and said OpenAI will not go public in 2026. That combination has made SoftBank one of the clearest stock-market proxies for investor confidence in the continued rapid expansion of OpenAI and the wider AI industry. SoftBank shares fall sharply in Tokyo SoftBank did not trade for the first 19 minutes of Monday's session as heavy selling pressure built up. When trading began, the shares opened at 5,926 yen, down 9.4% from Friday's close of 6,540 yen. They later fell as low as 5,720 yen before trading around 5,781 yen, down 11.6%. The fall was much steeper than declines in major Asian AI-related stocks. TSMC was down about 1%, while SK hynix fell around 6%. That gap matters. It suggests investors were not simply selling semiconductor stocks. They were also reassessing companies whose valuations depend heavily on the continued acceleration of frontier AI. Why OpenAI matters so much to SoftBank SoftBank announced in February that it would invest another $30 billion in OpenAI, taking its cumulative investment to $64.6 billion and its expected ownership to around 13%. The new investment was agreed at a $730 billion pre-money valuation. The remaining investment is structured in three $10 billion tranches. SoftBank completed the first tranche in April, with the second scheduled for July and the third for October. The shares SoftBank receives are preferred shares that are designed to convert into common stock if OpenAI conducts an IPO or related listing. That makes Altman's latest IPO comments particularly important. No OpenAI IPO this year Altman said an OpenAI listing in 2026 would be “ill-advised” given the current focus on AI safety. He also backed Anthropic CEO Dario Amodei's call to “pace the frontier” of AI development. Amodei has proposed independent safety evaluators with ongoing access to frontier AI companies, along with greater coordination between governments and AI developers. Altman said OpenAI would adopt the independent-evaluator approach. For SoftBank, the issue is therefore bigger than one bad trading session The company is making an enormous investment in a private AI company while the industry's leaders are openly debating whether the technology should move more slowly. SoftBank's October payment to OpenAI is also approaching, with another $10 billion scheduled under the investment agreement. The market's message on Monday was simple: if the AI race slows, companies most exposed to its rapid expansion may have the most to lose.

SoftBank shares plunged nearly 12% in Tokyo as investors reacted to calls to slow frontier AI development. The fall puts fresh focus on SoftBank’s $64.6 billion OpenAI investment, delayed IPO prospects and another $10 billion payment due in October.

SoftBank shares plunge nearly 12% as AI slowdown fears hit its $64.6 billion OpenAI bet

The BRICS Summit 2026 in New Delhi will be remembered as the germinating ground for future growth of the grouping. Several political and economic aspects could get a fillip in the coming years, from local-currency use and payment interoperability to institutional deepening. Progress is slow, but real. The only thing holding BRICS back from achieving its full potential is the need for consensus-based decision-making in a diverse grouping. Here is how things are likely to shape up.<h2>Partner-country expansion</h2>The partner-country tier created at the 2024 Kazan Summit was a response to demand from more than 30 interested nations. There are now 11 full members: the original five — Brazil, Russia, India, China and South Africa — joined by Egypt, Ethiopia, Iran, the UAE, Indonesia and Saudi Arabia. Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam are the 10 partner countries, which can attend summits and foreign ministers’ meetings, endorse declarations and join select working groups.&nbsp;The partner model is an influence multiplier. Countries like Nigeria and Thailand are likely to become full members under criteria emphasising geographic balance, good relations with all members, UN membership, support for multilateral reforms. The stress is on criteria-driven expansion. When new nations join either as full members or partners, BRICS’ reach will grow further into Southeast Asia, Central Asia, Africa and Latin America. This will boost the collective GDP, which is already around 40 per cent of the world in terms of purchasing power parity, as well as the grouping’s population, energy and minerals weight, and intra-group trade leverage.But expansion could come with slow decision-making and internal tensions, particularly given the shifting China-India dynamics. Nevertheless, further expansion will give BRICS more leverage as a broader Global South platform.Also read: <a href="https://www.wionews.com/opinions/did-brics-summit-2026-prove-that-an-11-member-bloc-with-india-and-china-in-it-can-still-agree-on-key-issues-1789292891454">Did BRICS Summit 2026 prove that an 11-member bloc with India and China in it can still agree on key issues?</a><h2>Dedollarisation: The reality check</h2>While dedollarisation was a buzzword for some time, the stress is on mitigation and diversification, not a coordinated assault to dethrone the fiat currency of the world. The 2025 Rio de Janeiro and 2026 New Delhi summits stressed more practical local-currency trade mechanisms while respecting national priorities.Intra-BRICS local-currency settlement has risen significantly. Such bilateral trade accounts for nearly 90 per cent in case of some member states. Bilateral swaps between countries such as China and Brazil are growing. Gold accumulation by BRICS members' central banks, along with a reduced dollar share in some payments, is contributing to these alternative arrangements.Dollar dominance in global reserves is not easy to remove. The high levels of local-currency bilateral trade involve countries sanctioned by the US or the West, such as Russia and Iran, while China also faces growing trade and technology restrictions.&nbsp;There are issues of trust, convertibility and liquidity that could prevent full dedollarisation. In the next few years, growth in local-currency trade and financing will continue. Non-dollar energy and commodity deals could become more frequent.A multipolar payments landscape under the BRICS Payments mechanism is the more likely outcome, where the dollar coexists with the renminbi, rupee, rouble and other local currencies. The countries are looking to reduce vulnerability to sanctions and volatility rather than eliminate dollar use.<a href="https://www.wionews.com/videos/brics-summit-new-delhi-declaration-adopted-with-full-consensus-big-diplomatic-win-for-india-1789283084511/embed">https://www.wionews.com/videos/brics-summit-new-delhi-declaration-adopted-with-full-consensus-big-diplomatic-win-for-india-1789283084511/embed</a><h2>Common currency appears to be stalled due to trust deficit</h2>A common BRICS currency, while actively discussed in the media, is not a priority. There are near-term political and economic hurdles, mainly the trust deficit among BRICS members such as India and China. Ahead of the summit, India said there was no proposal for a BRICS currency as of now. In the past, both Brazil and Russia had proposed common reference units, mainly involving gold and currency baskets. But these remain at the conceptual or pilot stage.The problem is the diversity of the BRICS economies. They have different inflation rates, monetary regimes, capital controls, convertibility and fiscal policies. India prefers complementarity with existing systems rather than an outright euro-like currency. Given this, creating a credible currency will need institutional integration far beyond mere consensus. Therefore, the focus is likely to continue on national currencies and interoperability.Also read: <a href="https://www.wionews.com/world/brics-summit-2026-pm-modi-praises-india-s-chairmanship-sends-critical-minerals-and-supply-chain-message-on-day-2-china-xi-jinping-present-1789277773320">BRICS Summit 2026: PM Modi's 'critical minerals' and 'supply chain' message on Day 2 in front of China's Xi</a><h2>Trade and payment mechanisms: An area of promise</h2>Trade and payment mechanisms are the most active issues when it comes to economic cooperation. The member states are keen to reduce costs, risks and intermediary dependence through local-currency settlements and linking existing rails rather than building a single rival to the SWIFT payment system. There is support for bilateral settlement systems, swaps and clearing arrangements. The BRICS Payment Task Force (BPTF) continues work on cross-border solutions that are fast, low-cost, inclusive, efficient, transparent and secure.The focus will continue to be on creating linkages between fast digital payment systems such as India’s Unified Payments Interface (UPI) and Brazil’s Pix, as well as exploring central bank digital currency (CBDC) interoperability. Pilot projects are ongoing for BRICS Pay, a decentralised messaging and gateway system linking national payment systems. BRICS Bridge, a multi-CBDC settlement system inspired by mBridge, as well as BRICS Clear, a settlement and depositary infrastructure, are ideas being explored.<h2>New Development Bank: Emerging as BRICS core</h2>From an idea whose time has come, the New Development Bank (NDB) is emerging as a core BRICS institution. By the middle of 2026, NDB’s cumulative approvals had neared $44 billion.Projects span infrastructure and sustainability. Local-currency financing had risen to around 29 per cent of the total portfolio by the end of 2025.More than a political bloc, the BRICS story is one of financial evolution supporting a more multipolar order through practical tools that enhance member autonomy and South-South connectivity. The payment systems and NDB are among the institutions that will deliver tangible value to the grouping, much more than a common currency and rapid dedollarisation.&nbsp;The future will depend on the external environment, particularly US policies, and cohesion among BRICS members.For BRICS, it is an alternative world order, not a New World Order.

BRICS is moving towards partner-country expansion, local-currency trade, interoperable payment systems and stronger NDB financing. There is a sense to prioritise practical financial tools over a common currency or rapid dedollarisation.

The BRICS Summit 2026 in New Delhi will be remembered as the germinating ground for future growth of the grouping. Several political and economic aspects could get a fillip in the coming years, from local-currency use and payment interoperability to institutional deepening. Progress is slow, but real. The only thing holding BRICS back from achieving its full potential is the need for consensus-based decision-making in a diverse grouping. Here is how things are likely to shape up. Partner-country expansion The partner-country tier created at the 2024 Kazan Summit was a response to demand from more than 30 interested nations. There are now 11 full members: the original five — Brazil, Russia, India, China and South Africa — joined by Egypt, Ethiopia, Iran, the UAE, Indonesia and Saudi Arabia. Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam are the 10 partner countries, which can attend summits and foreign ministers’ meetings, endorse declarations and join select working groups. The partner model is an influence multiplier. Countries like Nigeria and Thailand are likely to become full members under criteria emphasising geographic balance, good relations with all members, UN membership, support for multilateral reforms. The stress is on criteria-driven expansion. When new nations join either as full members or partners, BRICS’ reach will grow further into Southeast Asia, Central Asia, Africa and Latin America. This will boost the collective GDP, which is already around 40 per cent of the world in terms of purchasing power parity, as well as the grouping’s population, energy and minerals weight, and intra-group trade leverage. But expansion could come with slow decision-making and internal tensions, particularly given the shifting China-India dynamics. Nevertheless, further expansion will give BRICS more leverage as a broader Global South platform. Also read: Did BRICS Summit 2026 prove that an 11-member bloc with India and China in it can still agree on key issues? Dedollarisation: The reality check While dedollarisation was a buzzword for some time, the stress is on mitigation and diversification, not a coordinated assault to dethrone the fiat currency of the world. The 2025 Rio de Janeiro and 2026 New Delhi summits stressed more practical local-currency trade mechanisms while respecting national priorities. Intra-BRICS local-currency settlement has risen significantly. Such bilateral trade accounts for nearly 90 per cent in case of some member states. Bilateral swaps between countries such as China and Brazil are growing. Gold accumulation by BRICS members' central banks, along with a reduced dollar share in some payments, is contributing to these alternative arrangements. Dollar dominance in global reserves is not easy to remove. The high levels of local-currency bilateral trade involve countries sanctioned by the US or the West, such as Russia and Iran, while China also faces growing trade and technology restrictions. There are issues of trust, convertibility and liquidity that could prevent full dedollarisation. In the next few years, growth in local-currency trade and financing will continue. Non-dollar energy and commodity deals could become more frequent. A multipolar payments landscape under the BRICS Payments mechanism is the more likely outcome, where the dollar coexists with the renminbi, rupee, rouble and other local currencies. The countries are looking to reduce vulnerability to sanctions and volatility rather than eliminate dollar use. https://www.wionews.com/videos/brics-summit-new-delhi-declaration-adopted-with-full-consensus-big-diplomatic-win-for-india-1789283084511/embed Common currency appears to be stalled due to trust deficit A common BRICS currency, while actively discussed in the media, is not a priority. There are near-term political and economic hurdles, mainly the trust deficit among BRICS members such as India and China. Ahead of the summit, India said there was no proposal for a BRICS currency as of now. In the past, both Brazil and Russia had proposed common reference units, mainly involving gold and currency baskets. But these remain at the conceptual or pilot stage. The problem is the diversity of the BRICS economies. They have different inflation rates, monetary regimes, capital controls, convertibility and fiscal policies. India prefers complementarity with existing systems rather than an outright euro-like currency. Given this, creating a credible currency will need institutional integration far beyond mere consensus. Therefore, the focus is likely to continue on national currencies and interoperability. Also read: BRICS Summit 2026: PM Modi's 'critical minerals' and 'supply chain' message on Day 2 in front of China's Xi Trade and payment mechanisms: An area of promise Trade and payment mechanisms are the most active issues when it comes to economic cooperation. The member states are keen to reduce costs, risks and intermediary dependence through local-currency settlements and linking existing rails rather than building a single rival to the SWIFT payment system. There is support for bilateral settlement systems, swaps and clearing arrangements. The BRICS Payment Task Force (BPTF) continues work on cross-border solutions that are fast, low-cost, inclusive, efficient, transparent and secure. The focus will continue to be on creating linkages between fast digital payment systems such as India’s Unified Payments Interface (UPI) and Brazil’s Pix, as well as exploring central bank digital currency (CBDC) interoperability. Pilot projects are ongoing for BRICS Pay, a decentralised messaging and gateway system linking national payment systems. BRICS Bridge, a multi-CBDC settlement system inspired by mBridge, as well as BRICS Clear, a settlement and depositary infrastructure, are ideas being explored. New Development Bank: Emerging as BRICS core From an idea whose time has come, the New Development Bank (NDB) is emerging as a core BRICS institution. By the middle of 2026, NDB’s cumulative approvals had neared $44 billion. Projects span infrastructure and sustainability. Local-currency financing had risen to around 29 per cent of the total portfolio by the end of 2025. More than a political bloc, the BRICS story is one of financial evolution supporting a more multipolar order through practical tools that enhance member autonomy and South-South connectivity. The payment systems and NDB are among the institutions that will deliver tangible value to the grouping, much more than a common currency and rapid dedollarisation. The future will depend on the external environment, particularly US policies, and cohesion among BRICS members. For BRICS, it is an alternative world order, not a New World Order.

BRICS is moving towards partner-country expansion, local-currency trade, interoperable payment systems and stronger NDB financing. There is a sense to prioritise practical financial tools over a common currency or rapid dedollarisation.

BRICS of the future: From partner country expansion to trade mechanisms - what could change, what might not

When it comes to climate change, the BRICS Summit's New Delhi Declaration reads less like a communique and more like a negotiating position for the Global South. The bloc representing 40 percent of global GDP, 26 percent of global trade and nearly half the world's population made a clear push that can be described simply as: We want to not just follow the rules on climate change, we want to write them too. Coming as it did after the devastating Nepal floods, climate change was not an incidental aspect of the BRICS Declaration. It was woven throughout seperate sections of the 45-page document.<h2>The most pertinent features of BRICS Declaration on climate change:</h2><ul><li>Climate finance is part of the growth and development agenda</li><li>Debt is identified as a barrier to climate investment.&nbsp;</li><li>Climate adaptation appears directly in discussions involving central banks and finance ministries</li><li>BRICS seeks more financing options for developing economies, with a clear demand on developed countries when it comes to adoption.</li><li>Trade policy is explicitly linked to the countries’ capacity to adapt. This is reflected in the challenge to carbon border measures.&nbsp;</li><li>Opposition to protectionism is linked with support for multilateral trade rules even as BRICS vows to continue cooperation on trade and carbon markets&nbsp;</li><li>There are boundaries between climate and security, with concern expressed about attempts to link security with the climate-change agenda.</li></ul>"For a grouping as diverse and geopolitically complex as BRICS, achieving consensus on a forward-looking climate framework is no small feat," says Aarti Khosla, Founder and Director of Climate Trends.Also read: <a href="https://www.wionews.com/world/brics-stitches-climate-into-its-trade-and-growth-agenda-experts-say-1789231897615">BRICS stitches climate into its trade and growth agenda, experts say</a><h2>The pushback on ‘carbon borders’: The most significant point?</h2>The BRICS joint declaration's opposition to the so-called ‘carbon border adjustment mechanisms’ (CBAMs) pushed by European Union has perhaps the sharpest language on climate change issues. And that, was a work in progress. At the 12th BRICS Environment Ministers' Meeting in Delhi, the bloc had already described CBAM as punitive, discriminatory and protectionist . Now it is etched in the leaders' text, which called CBAM “unilateral, punitive, discriminatory and protectionist,” that undermined developing countries' efforts to address climate impacts and build adaptive capacity.&nbsp;The message to Brussels: Climate ambition and tariff policy can't travel in the same bus.Elsewhere, the declaration demanded to restore a functioning WTO dispute-settlement system. It also warned that tariffs pursued under environmental objectives disrupt supply chains and widen economic disparities.Also read: <a href="https://www.wionews.com/world/brics-built-350-meetings-worth-of-climate-cooperation-this-year-almost-none-of-it-comes-with-money-1789145877091">BRICS built 350 meetings' worth of climate cooperation this year, almost none of it comes with money</a><h2>Net Zero goes missing from the text</h2>Rathin Roy, Distinguished Professor at the Kautilya School of Public Policy, points to a conspicuous absence of what he calls “that favourite Euro-American phrase — Net Zero.”"For the BRICS, Net Zero is an outcome of a profoundly unsustainable development system."The keyword here is differentiated responsibilities and national circumstances. Fossil fuels will remain in the energy mix of emerging and developing economies, while renewables, hydrogen and nuclear energy will sit alongside.Developing economies will scale up clean energy on timelines set by their own development needs, not by deadlines written elsewhere.<a href="https://www.wionews.com/videos/brics-summit-2026-can-brics-turn-climate-pledges-into-action-1788943824383/embed">https://www.wionews.com/videos/brics-summit-2026-can-brics-turn-climate-pledges-into-action-1788943824383/embed</a><h2>After Nepal flood tragedy, resilience is not just a buzzword&nbsp;</h2>BRICS Summit was taking place just two weeks after the glacier-triggered floods in Nepal killed nearly 1,400 people, and the declaration pushed adaptation, climate finance and disaster risk reduction to the front of the text.For most of the bloc, climate is not an emissions accounting problem. It is a question of whether infrastructure survives the next monsoon. And the Declaration reflected the urgency. The text leaned hard into preparedness, with mentions on early-warning integration, voluntary principles for climate-resilient urban infrastructure, anticipatory action and drought-resilient seed systems.&nbsp;Debt was named as a barrier to climate investment, and developed countries were asked for additional, predictable and accessible adaptation finance.Ulka Kelkar of WRI India highlights that the proposed Insurance Resilience Centre and Risk Lab could offer an alternative to conventional insurance approaches that lose effectiveness as climate risk rises.<h2>BRICS wants to write climate change rules, not just follow them</h2>The declaration firmly connects climate adaptation to reforms of global financial and economic systems. It seeks IMF quota reform, a correction in World Bank shareholding patterns and greater developing-country representation at the UN, while backing Ethiopia's COP32 presidency and sending a constructive signal to COP31.Archana Chaudhary of Climate Trends aptly concludes the BRICS framing: emerging economies are asking not only for a greater share of global growth, but a greater role in writing the rules that shape it.Li Shuo says the real test is whether BRICS can translate rhetoric into stronger climate action as Western countries retreat from their commitments. That will decide what kind of geopolitical force the bloc becomes.

With the New Delhi Declaration, BRICS appears to have set up its negotiating stance on climate change. The text highlighted the need for balancing the Global South's energy requirements with climate commitments. It rejected carbon border taxes, and kept fossil fuels in the mix.

When it comes to climate change, the BRICS Summit's New Delhi Declaration reads less like a communique and more like a negotiating position for the Global South. The bloc representing 40 percent of global GDP, 26 percent of global trade and nearly half the world's population made a clear push that can be described simply as: We want to not just follow the rules on climate change, we want to write them too. Coming as it did after the devastating Nepal floods, climate change was not an incidental aspect of the BRICS Declaration. It was woven throughout seperate sections of the 45-page document. The most pertinent features of BRICS Declaration on climate change: Climate finance is part of the growth and development agenda Debt is identified as a barrier to climate investment. Climate adaptation appears directly in discussions involving central banks and finance ministries BRICS seeks more financing options for developing economies, with a clear demand on developed countries when it comes to adoption. Trade policy is explicitly linked to the countries’ capacity to adapt. This is reflected in the challenge to carbon border measures. Opposition to protectionism is linked with support for multilateral trade rules even as BRICS vows to continue cooperation on trade and carbon markets There are boundaries between climate and security, with concern expressed about attempts to link security with the climate-change agenda. "For a grouping as diverse and geopolitically complex as BRICS, achieving consensus on a forward-looking climate framework is no small feat," says Aarti Khosla, Founder and Director of Climate Trends. Also read: BRICS stitches climate into its trade and growth agenda, experts say The pushback on ‘carbon borders’: The most significant point? The BRICS joint declaration's opposition to the so-called ‘carbon border adjustment mechanisms’ (CBAMs) pushed by European Union has perhaps the sharpest language on climate change issues. And that, was a work in progress. At the 12th BRICS Environment Ministers' Meeting in Delhi, the bloc had already described CBAM as punitive, discriminatory and protectionist . Now it is etched in the leaders' text, which called CBAM “unilateral, punitive, discriminatory and protectionist,” that undermined developing countries' efforts to address climate impacts and build adaptive capacity. The message to Brussels: Climate ambition and tariff policy can't travel in the same bus. Elsewhere, the declaration demanded to restore a functioning WTO dispute-settlement system. It also warned that tariffs pursued under environmental objectives disrupt supply chains and widen economic disparities. Also read: BRICS built 350 meetings' worth of climate cooperation this year, almost none of it comes with money Net Zero goes missing from the text Rathin Roy, Distinguished Professor at the Kautilya School of Public Policy, points to a conspicuous absence of what he calls “that favourite Euro-American phrase — Net Zero.” "For the BRICS, Net Zero is an outcome of a profoundly unsustainable development system." The keyword here is differentiated responsibilities and national circumstances. Fossil fuels will remain in the energy mix of emerging and developing economies, while renewables, hydrogen and nuclear energy will sit alongside. Developing economies will scale up clean energy on timelines set by their own development needs, not by deadlines written elsewhere. https://www.wionews.com/videos/brics-summit-2026-can-brics-turn-climate-pledges-into-action-1788943824383/embed After Nepal flood tragedy, resilience is not just a buzzword BRICS Summit was taking place just two weeks after the glacier-triggered floods in Nepal killed nearly 1,400 people, and the declaration pushed adaptation, climate finance and disaster risk reduction to the front of the text. For most of the bloc, climate is not an emissions accounting problem. It is a question of whether infrastructure survives the next monsoon. And the Declaration reflected the urgency. The text leaned hard into preparedness, with mentions on early-warning integration, voluntary principles for climate-resilient urban infrastructure, anticipatory action and drought-resilient seed systems. Debt was named as a barrier to climate investment, and developed countries were asked for additional, predictable and accessible adaptation finance. Ulka Kelkar of WRI India highlights that the proposed Insurance Resilience Centre and Risk Lab could offer an alternative to conventional insurance approaches that lose effectiveness as climate risk rises. BRICS wants to write climate change rules, not just follow them The declaration firmly connects climate adaptation to reforms of global financial and economic systems. It seeks IMF quota reform, a correction in World Bank shareholding patterns and greater developing-country representation at the UN, while backing Ethiopia's COP32 presidency and sending a constructive signal to COP31. Archana Chaudhary of Climate Trends aptly concludes the BRICS framing: emerging economies are asking not only for a greater share of global growth, but a greater role in writing the rules that shape it. Li Shuo says the real test is whether BRICS can translate rhetoric into stronger climate action as Western countries retreat from their commitments. That will decide what kind of geopolitical force the bloc becomes.

With the New Delhi Declaration, BRICS appears to have set up its negotiating stance on climate change. The text highlighted the need for balancing the Global South's energy requirements with climate commitments. It rejected carbon border taxes, and kept fossil fuels in the mix.

BRICS Summit climate change stance: Delhi Declaration hints at changing priorities of Global South

AI surveillance is being used to determine behavioural patterns, detect manipulation and insider trading in the stock market, said Sriram Krishnan, Chief Business Development Officer(CBDO) at the National Stock Exchange of India (NSE). "For the last two or three years, we have been using homegrown algorithms mainly as a means of detecting and preventing malpractices in the market," he added, while refusing to disclose statistics on the malpractices it has prevented or detected. He said that the NSE does not publish such statistics, as "it would not be in the interest of the market". On the extent of AI use for surveillance of malpractices, he said it was an evolving process.The National Stock Exchange of India (NSE) Initial Public Offering (IPO) will open for public subscription on Thursday, September 17, 2026, and close on Monday, September 21, 2026. After regulatory approvals, National Stock Exchange of India Limited has fixed the price band of Rs 1,700/- to Rs 1,785/- per Equity Share of face value Rs. 1/- each for its initial public offer. Investors can bid for a minimum of 8 Equity Shares and in multiples of 8 Equity Shares thereafter.National Stock Exchange of India (NSE) began its operations in 1994 and was the first exchange in India to implement electronic or screen-based trading. NSE is ranked third in the world in the equity segment by number of trades (electronic order book) in 2025, as per the statistics maintained by the World Federation of Exchanges (WFE).<h2>NSE's IPO comes amid growing pressure on Indian market</h2>When queried about NSE's IPO coming at a time when the Indian markets are facing sustained pressures due to high oil prices, falling value of Indian Rupee, geopolitical tensions, Krishnan replied that the NSE IPO is not meant to "time the market" and that this IPO is only meant to facilitate price discovery. "Investors who commit to NSE are very long-term oriented. They don't look at the current environment. Foreign Investors told us that buying NSE is like buying the India growth story, and that NSE will do well as India continues to develop," he cited.<h2>Why FPIs are pulling out of Indian stock market</h2>On the trend of Foreign Portfolio Investors (FPIs) pulling out of the Indian stock market and opting to invest in overseas markets, NSE's CBDO explained that FPIs have the choice to invest anywhere they find suitable. "For example, a fund manager in San Francisco would prefer to invest in an AI firm delivering 2000% returns, given that India does not have such AI-centric options for investment. They are free to invest anywhere in the world. However, they also reallocate their investments every few months. All this depends on the choice of the fund managers. If they feel India is lacking in AI and that there are risk factors in India, they might go elsewhere. On the contrary, when the AI bubble bursts, or there is a market correction, they will come back to India," he elaborated.<h2>Potential for growth in the Indian stock market</h2>Citing data from recent years, NSE officials pointed out that India's unique registered investor base (tracked via PAN) on the National Stock Exchange surged from approximately 3.1 crore (31 million) in March 2020 just as the COVID-19 pandemic hit, and crossed the 13 crore (130 million) milestone by April 2026. They said that at least 20-30 lakh (2-3 million) new DMAT accounts(for holding investments digitally) were being opened every month over the last five years. &nbsp;Further, they also highlighted that such growth is sustainable, given that only 13.3 crore Indians out of the country's 140 crore population are trading in the capital markets.Our job is to bring good firms to the trading platform after checking their history and antecedents, track record, trust quotient, among others. To facilitate such growth of investors in the Indian market, we will also need to invest in the technology infrastructure that can help 40-50 crore people trade online, while also having the mechanism to deal with cybercrime and related threats.<h2>Market cap of NSE-listed firms could hit $11 trillion in a decade</h2>Quoting projections, NSE officials said that India's nominal GDP is estimated to climb toward the $10 trillion mark in a decade, which is more than double the present $4.3 trillion. Likewise, they expressed hope that the total market capitalisation of all NSE-listed firms could double from the present $5.1trillion to almost $11-12trillion in a decade. They believe that such growth can be achieved when India's startups, unicorns, and small-medium enterprises transition to public exchange listings. Citing the consistent growth of firms getting listed in the stock market, they pointed out that more than 250 firms have been getting listed every year over the last two years. Citing such numbers, an NSE official expressed hope that it would be possible to add about 3,000 firms to the stock market in about a decade.

The National Stock Exchange of India (NSE) Initial Public Offering (IPO) will open for public subscription on Thursday, September 17, 2026, and close on Monday, September 21, 2026.

AI surveillance is being used to determine behavioural patterns, detect manipulation and insider trading in the stock market, said Sriram Krishnan, Chief Business Development Officer(CBDO) at the National Stock Exchange of India (NSE). "For the last two or three years, we have been using homegrown algorithms mainly as a means of detecting and preventing malpractices in the market," he added, while refusing to disclose statistics on the malpractices it has prevented or detected. He said that the NSE does not publish such statistics, as "it would not be in the interest of the market". On the extent of AI use for surveillance of malpractices, he said it was an evolving process. The National Stock Exchange of India (NSE) Initial Public Offering (IPO) will open for public subscription on Thursday, September 17, 2026, and close on Monday, September 21, 2026. After regulatory approvals, National Stock Exchange of India Limited has fixed the price band of Rs 1,700/- to Rs 1,785/- per Equity Share of face value Rs. 1/- each for its initial public offer. Investors can bid for a minimum of 8 Equity Shares and in multiples of 8 Equity Shares thereafter. National Stock Exchange of India (NSE) began its operations in 1994 and was the first exchange in India to implement electronic or screen-based trading. NSE is ranked third in the world in the equity segment by number of trades (electronic order book) in 2025, as per the statistics maintained by the World Federation of Exchanges (WFE). NSE's IPO comes amid growing pressure on Indian market When queried about NSE's IPO coming at a time when the Indian markets are facing sustained pressures due to high oil prices, falling value of Indian Rupee, geopolitical tensions, Krishnan replied that the NSE IPO is not meant to "time the market" and that this IPO is only meant to facilitate price discovery. "Investors who commit to NSE are very long-term oriented. They don't look at the current environment. Foreign Investors told us that buying NSE is like buying the India growth story, and that NSE will do well as India continues to develop," he cited. Why FPIs are pulling out of Indian stock market On the trend of Foreign Portfolio Investors (FPIs) pulling out of the Indian stock market and opting to invest in overseas markets, NSE's CBDO explained that FPIs have the choice to invest anywhere they find suitable. "For example, a fund manager in San Francisco would prefer to invest in an AI firm delivering 2000% returns, given that India does not have such AI-centric options for investment. They are free to invest anywhere in the world. However, they also reallocate their investments every few months. All this depends on the choice of the fund managers. If they feel India is lacking in AI and that there are risk factors in India, they might go elsewhere. On the contrary, when the AI bubble bursts, or there is a market correction, they will come back to India," he elaborated. Potential for growth in the Indian stock market Citing data from recent years, NSE officials pointed out that India's unique registered investor base (tracked via PAN) on the National Stock Exchange surged from approximately 3.1 crore (31 million) in March 2020 just as the COVID-19 pandemic hit, and crossed the 13 crore (130 million) milestone by April 2026. They said that at least 20-30 lakh (2-3 million) new DMAT accounts(for holding investments digitally) were being opened every month over the last five years. Further, they also highlighted that such growth is sustainable, given that only 13.3 crore Indians out of the country's 140 crore population are trading in the capital markets. Our job is to bring good firms to the trading platform after checking their history and antecedents, track record, trust quotient, among others. To facilitate such growth of investors in the Indian market, we will also need to invest in the technology infrastructure that can help 40-50 crore people trade online, while also having the mechanism to deal with cybercrime and related threats. Market cap of NSE-listed firms could hit $11 trillion in a decade Quoting projections, NSE officials said that India's nominal GDP is estimated to climb toward the $10 trillion mark in a decade, which is more than double the present $4.3 trillion. Likewise, they expressed hope that the total market capitalisation of all NSE-listed firms could double from the present $5.1trillion to almost $11-12trillion in a decade. They believe that such growth can be achieved when India's startups, unicorns, and small-medium enterprises transition to public exchange listings. Citing the consistent growth of firms getting listed in the stock market, they pointed out that more than 250 firms have been getting listed every year over the last two years. Citing such numbers, an NSE official expressed hope that it would be possible to add about 3,000 firms to the stock market in about a decade.

The National Stock Exchange of India (NSE) Initial Public Offering (IPO) will open for public subscription on Thursday, September 17, 2026, and close on Monday, September 21, 2026.

'National Stock Exchange of India using AI to track & curb malpractices'

The New Delhi Declaration, adopted at the 18th BRICS summit on Saturday (Sep 12), had significant sections pertaining to buiness, economy, trade and global finance. At the 18th BRICS summit, held amid the 20th anniversary of the grouping, the leaders expressed commitment to &nbsp;the three pillars of cooperation - political-security, economic-financial, and people-to-people. Here is a summary of what the declaration said about economic and financial cooperation, an aspect which formed the germinating idea of BRICS itself.<h2>Seeking reforms in International financial institutions</h2>The declaration said the reform of the IMF and World Bank is urgent, and specifically called for a merit-based, transparent leadership selection in the two Bretton Woods institutions. On the IMF , the dclaration said voluntary financial contributions shouldn't buy governance weight. It sought the entry into force of the 16th General Review quota increases without further delay, as also a meaningful quota realignment under the 17th Review. On the World Bank, it said the 2025 Shareholding Review should correct historic underrepresentation of developing countries.<a href="https://www.wionews.com/videos/brics-summit-2026-in-new-delhi-world-leaders-gather-for-high-stakes-meeting-1789209287155/embed">https://www.wionews.com/videos/brics-summit-2026-in-new-delhi-world-leaders-gather-for-high-stakes-meeting-1789209287155/embed</a><h2>Trade and the WTO: From condeming ‘coericive measures’ to restoring WTO dispute settlement &nbsp;</h2>In what could be a reference to Trump tariffs, the declaration condemned "unilateral coercive measures, including secondary sanctions and non-UNSC-authorised sanctions." It expressed strong support for restoring a fully functioning two-tier binding dispute settlement system and appointing Appellate Body members. It criticised trade-restrictive actions inconsistent with WTO rules including indiscriminate tariff increases and protectionism dressed as environmental policy. It also backed WTO accession bids of Ethiopia and Iran. The declaration acknowledged China's zero-tariff treatment for 53 African countries.Also read: <a href="https://www.wionews.com/world/brics-summit-2026-india-ensures-consensus-brics-nations-to-issue-joint-statement-today-1789205401103">BRICS Summit 2026: India ensures consensus: BRICS nations to issue joint statement today</a><h2>BRICS Payment Task Force, cross-border trade and investments</h2>The declaration noted that work continues on cross-border payments through the BRICS Payment Task Force, including trade settlement in local currencies. The New Investment Platform, Multilateral Guarantees initiative, a proposed Insurance Resilience Centre and a Risk Lab at GIFT City, CRA treaty amendments, tax and customs cooperation were mentioned. The declaration also referred to MSME finance , spcifically the Jaipur Consensus on invoice discounting, as well as cooperation in Special Economic Zones, global value chains, and the New Development Bank's expanding role.&nbsp;

BRICS New Delhi Declaration pressed for IMF quota realignment and WTO Appellate Body revival. It advocated local-currency cross-border payments, and backed New Development Bank's expansion. But most imporantly, it opposed unilateral tariffs.

The New Delhi Declaration, adopted at the 18th BRICS summit on Saturday (Sep 12), had significant sections pertaining to buiness, economy, trade and global finance. At the 18th BRICS summit, held amid the 20th anniversary of the grouping, the leaders expressed commitment to the three pillars of cooperation - political-security, economic-financial, and people-to-people. Here is a summary of what the declaration said about economic and financial cooperation, an aspect which formed the germinating idea of BRICS itself. Seeking reforms in International financial institutions The declaration said the reform of the IMF and World Bank is urgent, and specifically called for a merit-based, transparent leadership selection in the two Bretton Woods institutions. On the IMF , the dclaration said voluntary financial contributions shouldn't buy governance weight. It sought the entry into force of the 16th General Review quota increases without further delay, as also a meaningful quota realignment under the 17th Review. On the World Bank, it said the 2025 Shareholding Review should correct historic underrepresentation of developing countries. https://www.wionews.com/videos/brics-summit-2026-in-new-delhi-world-leaders-gather-for-high-stakes-meeting-1789209287155/embed Trade and the WTO: From condeming ‘coericive measures’ to restoring WTO dispute settlement In what could be a reference to Trump tariffs, the declaration condemned "unilateral coercive measures, including secondary sanctions and non-UNSC-authorised sanctions." It expressed strong support for restoring a fully functioning two-tier binding dispute settlement system and appointing Appellate Body members. It criticised trade-restrictive actions inconsistent with WTO rules including indiscriminate tariff increases and protectionism dressed as environmental policy. It also backed WTO accession bids of Ethiopia and Iran. The declaration acknowledged China's zero-tariff treatment for 53 African countries. Also read: BRICS Summit 2026: India ensures consensus: BRICS nations to issue joint statement today BRICS Payment Task Force, cross-border trade and investments The declaration noted that work continues on cross-border payments through the BRICS Payment Task Force, including trade settlement in local currencies. The New Investment Platform, Multilateral Guarantees initiative, a proposed Insurance Resilience Centre and a Risk Lab at GIFT City, CRA treaty amendments, tax and customs cooperation were mentioned. The declaration also referred to MSME finance , spcifically the Jaipur Consensus on invoice discounting, as well as cooperation in Special Economic Zones, global value chains, and the New Development Bank's expanding role.

BRICS New Delhi Declaration pressed for IMF quota realignment and WTO Appellate Body revival. It advocated local-currency cross-border payments, and backed New Development Bank's expansion. But most imporantly, it opposed unilateral tariffs.

BRICS Summit: Payment Task Force, tariffs, trade and more: What New Delhi Declaration said about business, finance and economy

BRICS leaders gather at Bharat Mandapam on September 12 and 13 for the 18th summit, closing India's chairship under the theme "Building for Resilience, Innovation, Cooperation and Sustainability". The bloc's public-private partnership (PPP) agenda has so far been a story of physical infrastructure. But the question is whether it should also be a story about counters, queues and certificates. About people facing services.&nbsp;<h2>The BRICS PPP story so far&nbsp;</h2>BRICS formalised its PPP cooperation in 2016, and the BRICS Taskforce on Public-Private Partnerships was set up to manage that work and establish best practices among member states. The remit of this cooperation has been about infrastructure. At the finance ministers' meeting in October 2024, the task force flagged blended finance as the key instrument for pulling private capital into infrastructure aligned with the Sustainable Development Goals. Brazil's presidency opened its first task force meeting in March 2025 on climate-resilient infrastructure. In May that year, Abu Dhabi hosted the task force and a seminar on flexible financing models for education, healthcare, clean energy and transport. Running underneath it all is the New Development Bank, whose project pipeline and membership expansion have shaped the bloc's infrastructure conversation since 2018.

Services for the public: The category nobody counted in PPP

Roads and grids are measurable but public-facing service delivery is not. Yet, it is where citizens actually meet the state. A passport window, a sub-registrar's office, a civil registration counter, and so many other services. BRICS now speaks for close to half the world's population and roughly 40 per cent of global GDP. That is a very large number of queues for such services.&nbsp;<h2>VFS: A 25-year proof of concept on service delivery for the people&nbsp;</h2>The model for service delivery as PPP already exists. In 2001, a VFS Global pilot with the US Consulate in Mumbai led to the establishment of three small visa centres in western India. Twenty-five years on, VFS Global works with 71 client governments, runs more than 4,200 application centres across 169 countries with over 17,500 staff, and has processed more than 557 million transactions. The company handles the administrative, non-judgmental layer while the government keeps the decision powers.<h2>From visas to registries: Potential proven, expansion is the need of the hour&nbsp;</h2>The expansion of service category is already visible. In May 2026, a VFS Global-led consortium with WE Excel Software won a five-year contract from Maharashtra's Inspector General of Registration to set up 60 Model Sub-Registrar Offices. The offices stay under government control and are staffed by departmental officials, and citizens can still choose a regular SRO.&nbsp;Elsewhere, a major milestone in this evolution was the acquisition of CiX Citizen Experience (CiX) in Brazil. Today, CiX Citizen Experience supports more than 170 million citizens through over 250 centres, delivering more than 200 public services. The acquisition has strengthened VFS Global’s position in citizen services and expanded its ability to help governments deliver more accessible and citizen-centric public services.&nbsp;There is huge possibility of expanding the success of VFS Global services into other BRICS nations. A strong impetus for this would come if service delivery is added to the PPP segment in BRICS.&nbsp;South Africa's Department of Home Affairs contracted the company in 2010 for visa and permit intake at its missions abroad, and again in 2013 for intake within the country — an arrangement the Auditor General later recommended be restructured as a formal public-private partnership. Vehicle registration, vital record registrations, company incorporation, e-governance portals — each is administrative volume attached to a sovereign decision. That is exactly the seam the PPP model was built for. Whether BRICS names it in Delhi is the thing to watch.&nbsp;

The PPP agenda of BRICS has so far been about physical infrastructure. But it should also be a story about counters, queues and certificates. About people facing services,  like those offered by VFS Global.

BRICS leaders gather at Bharat Mandapam on September 12 and 13 for the 18th summit, closing India's chairship under the theme "Building for Resilience, Innovation, Cooperation and Sustainability". The bloc's public-private partnership (PPP) agenda has so far been a story of physical infrastructure. But the question is whether it should also be a story about counters, queues and certificates. About people facing services. The BRICS PPP story so far BRICS formalised its PPP cooperation in 2016, and the BRICS Taskforce on Public-Private Partnerships was set up to manage that work and establish best practices among member states. The remit of this cooperation has been about infrastructure. At the finance ministers' meeting in October 2024, the task force flagged blended finance as the key instrument for pulling private capital into infrastructure aligned with the Sustainable Development Goals. Brazil's presidency opened its first task force meeting in March 2025 on climate-resilient infrastructure. In May that year, Abu Dhabi hosted the task force and a seminar on flexible financing models for education, healthcare, clean energy and transport. Running underneath it all is the New Development Bank, whose project pipeline and membership expansion have shaped the bloc's infrastructure conversation since 2018.

The PPP agenda of BRICS has so far been about physical infrastructure. But it should also be a story about counters, queues and certificates. About people facing services, &nbsp;like those offered by VFS Global.

BRICS beyond infrastructure: The next PPP revolution could be in citizen services

Web traffic to artificial intelligence platforms experienced explosive growth in 2025, reaching 125.7 billion total visits, a 46% surge compared to the previous year, according to newly released analytics from market intelligence platform AITools.xyz. The data, which aggregates traffic estimates from SEMrush and Ahrefs across more than 9,500 AI platforms, reveals a heavy concentration of desktop and web-based usage dominated by a small group of nations. The United States leads the world by a wide margin, accounting for one out of every five AI website visits globally. Traffic originating from the US surpassed second-place India by more than double, while the top three countries combined generated 36.5% of all web-based AI interactions worldwide.&nbsp;<a href="https://www.wionews.com/videos/ai-hacking-scare-anthropic-s-claude-model-hacked-external-systems-during-test-1789062587216/embed">https://www.wionews.com/videos/ai-hacking-scare-anthropic-s-claude-model-hacked-external-systems-during-test-1789062587216/embed</a>&nbsp;&nbsp;Brazil claimed the third spot globally with 7.0 billion visits, placing it comfortably ahead of major European markets including Germany (4.6 billion), the United Kingdom (3.8 billion), and France (3.4 billion).&nbsp;Large populations significantly contributed to the elevated totals in India and Brazil, but several Southeast Asian nations also showed remarkably strong engagement. Indonesia ranked sixth globally with 3.7 billion visits, while the Philippines ranked tenth with 2.9 billion. Both nations outperformed larger or wealthier economies such as Italy (2.6 billion), Spain (2.5 billion), and South Korea (2.3 billion).&nbsp;Also read: <a href="https://www.wionews.com/technology/anthropic-says-scientists-used-claude-ai-for-research-that-could-aid-biological-weapons-development-1789112065887">Anthropic says scientists used Claude AI for research that could aid biological weapons development</a>&nbsp;Conversely, China ranked 15th with 2.4 billion visits, an unexpectedly low position for the world’s second-largest AI developer. Industry analysts emphasize that this ranking reflects methodological boundaries rather than total national engagement. Major Western platforms like ChatGPT, Gemini, and Claude face restrictions in China, driving domestic users toward native services like DeepSeek, Doubao, and Quark. Because these local platforms primarily operate through mobile applications and the dataset strictly tracks web browser traffic while excluding mobile apps, China's total usage is significantly understated.&nbsp;Also read: <a href="https://www.wionews.com/world/houthis-used-claude-ai-for-weapons-development-and-guided-rocket-test-what-anthropic-threat-report-claimed-1789110359900">Houthis used Claude AI for weapons development and guided-rocket test? What Anthropic threat report claimed</a>&nbsp;The report also highlights a divergence between overall web volume and population adoption rates. While the US drives the highest absolute traffic volume, separate findings from Microsoft rank the U.S. 21st in workplace adoption, with 31.3% of working-age adults using AI regularly. By contrast, smaller economies exhibit far higher penetration rates; the United Arab Emirates leads global workforce integration, with 70.1% of adults regularly utilizing AI tools.

Global web traffic to AI platforms grew 46% in 2025 to 125.7 billion visits, driven by the US, India, and Brazil, according to new data from AITools.xyz.

Web traffic to artificial intelligence platforms experienced explosive growth in 2025, reaching 125.7 billion total visits, a 46% surge compared to the previous year, according to newly released analytics from market intelligence platform AITools.xyz. The data, which aggregates traffic estimates from SEMrush and Ahrefs across more than 9,500 AI platforms, reveals a heavy concentration of desktop and web-based usage dominated by a small group of nations. The United States leads the world by a wide margin, accounting for one out of every five AI website visits globally. Traffic originating from the US surpassed second-place India by more than double, while the top three countries combined generated 36.5% of all web-based AI interactions worldwide. https://www.wionews.com/videos/ai-hacking-scare-anthropic-s-claude-model-hacked-external-systems-during-test-1789062587216/embed Brazil claimed the third spot globally with 7.0 billion visits, placing it comfortably ahead of major European markets including Germany (4.6 billion), the United Kingdom (3.8 billion), and France (3.4 billion). Large populations significantly contributed to the elevated totals in India and Brazil, but several Southeast Asian nations also showed remarkably strong engagement. Indonesia ranked sixth globally with 3.7 billion visits, while the Philippines ranked tenth with 2.9 billion. Both nations outperformed larger or wealthier economies such as Italy (2.6 billion), Spain (2.5 billion), and South Korea (2.3 billion). Also read: Anthropic says scientists used Claude AI for research that could aid biological weapons development Conversely, China ranked 15th with 2.4 billion visits, an unexpectedly low position for the world’s second-largest AI developer. Industry analysts emphasize that this ranking reflects methodological boundaries rather than total national engagement. Major Western platforms like ChatGPT, Gemini, and Claude face restrictions in China, driving domestic users toward native services like DeepSeek, Doubao, and Quark. Because these local platforms primarily operate through mobile applications and the dataset strictly tracks web browser traffic while excluding mobile apps, China's total usage is significantly understated. Also read: Houthis used Claude AI for weapons development and guided-rocket test? What Anthropic threat report claimed The report also highlights a divergence between overall web volume and population adoption rates. While the US drives the highest absolute traffic volume, separate findings from Microsoft rank the U.S. 21st in workplace adoption, with 31.3% of working-age adults using AI regularly. By contrast, smaller economies exhibit far higher penetration rates; the United Arab Emirates leads global workforce integration, with 70.1% of adults regularly utilizing AI tools.

Global web traffic to AI platforms grew 46% in 2025 to 125.7 billion visits, driven by the US, India, and Brazil, according to new data from AITools.xyz.

Global AI web traffic soars to 125.7 billion visits in 2025; US and India lead market: report

BRICS is aiming to make cross-border payments faster, cheaper and less dependent on traditional financial channels. The Reserve Bank of India’s (RBI) recent comments and recommendations point towards a potentially significant shift in how trade and other cross-border payments could be settled among BRICS economies. This is not being described as dedollarisation per se. But it has elements of countries being able to settle trade in their local currencies.<h2>What did RBI Governor Sanjay Malhotra say on BRICS payments?</h2>RBI Governor Sanjay Malhotra recently said BRICS members were discussing possible links between their fast payment systems and central bank digital currencies, or CBDCs. “Cross-border payments is an area of interest for all of us, including the BRICS, because we feel there is a lot of scope for reducing cost,” Malhotra said in Mumbai.Various options are on the table, he said, while highlighting the speed of India’s Unified Payments Interface (UPI), compared with international remittances that can take hours or days to settle.<a href="https://www.wionews.com/videos/brics-focuses-on-diversification-over-de-dollarisation-1789104909152/embed">https://www.wionews.com/videos/brics-focuses-on-diversification-over-de-dollarisation-1789104909152/embed</a><h2>BRICS is considering more than one mechanism</h2>Linking existing fast-payment systems is one way, while interoperability between national CBDCs is another. But a single BRICS-wide payment network is yet to take shape.The Indian central bank had recommended that the linking of BRICS members’ CBDCs be included on the agenda of the 2026 BRICS Summit. The aim was to streamline cross-border trade, trade finance and tourism payments through compatible technology and governance arrangements.India has been pushing the CBDC-linking proposal ahead of the BRICS Summit. But technical and political hurdles remain. There are questions over governance, technology compatibility and the issue of trade imbalances between member countries.Currency-swap arrangements and regular settlement mechanisms could be required in the case of large bilateral trade imbalances.Finance ministers and central bank governors have been discussing the BRICS Cross-Border Payments Initiative for some time. The BRICS Payment Task Force is exploring greater interoperability between member states’ payment systems.The idea is for facilitating cross-border payments that are fast, low-cost, accessible, efficient, transparent and safe, while supporting trade and investment flows.&nbsp;Also read: <a href="https://www.wionews.com/world/de-dollarisation-question-of-the-brics-economy-how-upi-cips-pix-and-spfs-could-link-up-to-bypass-swift-explaind-1788694362366">De-dollarisation question of the BRICS economy: How UPI, CIPS, Pix and SPFS could link up to bypass SWIFT? EXPLAIND</a><h2>Settling trade in local currencies: The other part of the equation</h2>The RBI is also pushing to expand the international use of the rupee and other national currencies. Malhotra said the RBI would continue efforts to internationalise the rupee and promote the use of local currencies for cross-border payments and trade. India already has bilateral local-currency settlement arrangements with the UAE, Indonesia, Maldives and Mauritius.The RBI’s framework for international trade settlement through the rupee, including Special Rupee Vostro Accounts (SRVAs), is an arrangement alongside the existing system using freely convertible currencies.The RBI’s Inter-Departmental Group on Internationalisation of the Indian Rupee (INR) had recommended expanding the use of local currencies, particularly with major trading partners.&nbsp;<h2>Reducing dollar dependence without removing it entirely</h2>These measures could reduce the need for, and dependence on, the US dollar in some bilateral transactions, even if “dedollarisation” is not the stated objective.If two BRICS nations can use interoperable payment systems to settle directly in their respective currencies, the transaction may not need to be routed through the dollar.For CBDCs, if digital currencies issued by participating central banks can eventually interact directly under agreed technical and regulatory standards, cross-border payments could become faster and potentially cheaper.It is a form of smart diversification, and eventually a third currency such as the dollar may be required less for such transactions.<h2>Is this BRICS dedollarisation?</h2>The RBI and Indian government have not presented these initiatives as dedollarisation or as a move towards establishing a BRICS currency.The RBI’s CBDC proposal is not aimed at promoting dedollarisation, and India’s objective is to make international transactions easier and faster, rather than to replace the US dollar as the world’s reserve currency.India has been cautious about BRICS turning into an explicitly anti-dollar financial bloc. There is no agreed BRICS common currency yet. No plan has been announced for a BRICS alternative to the existing international monetary system either.Also read: <a href="https://www.wionews.com/world/peskov-russia-brics-transactions-national-currencies-1788862059036">BRICS 2026: Russia says over 90% of Russia-BRICS trade settled in national currencies</a><h2>The big challenge of trade imbalances</h2>The basic problem on any future payment mechanism is how to settle persistent trade imbalances. If a country accumulates large balances in another country’s currency but has limited opportunities to spend or invest them, local-currency settlement can become unsustainable.To manage such imbalances, potential BRICS arrangements could require currency swaps and regular settlement mechanisms.

RBI’s BRICS payments push could make cross-border trade faster and cheaper. Mechanisms being considered include CBDCs, UPI links and local currency settlments. These could reduce dollar dependence without formally pursuing dedollarisation 

BRICS is aiming to make cross-border payments faster, cheaper and less dependent on traditional financial channels. The Reserve Bank of India’s (RBI) recent comments and recommendations point towards a potentially significant shift in how trade and other cross-border payments could be settled among BRICS economies. This is not being described as dedollarisation per se. But it has elements of countries being able to settle trade in their local currencies. What did RBI Governor Sanjay Malhotra say on BRICS payments? RBI Governor Sanjay Malhotra recently said BRICS members were discussing possible links between their fast payment systems and central bank digital currencies, or CBDCs. “Cross-border payments is an area of interest for all of us, including the BRICS, because we feel there is a lot of scope for reducing cost,” Malhotra said in Mumbai. Various options are on the table, he said, while highlighting the speed of India’s Unified Payments Interface (UPI), compared with international remittances that can take hours or days to settle. https://www.wionews.com/videos/brics-focuses-on-diversification-over-de-dollarisation-1789104909152/embed BRICS is considering more than one mechanism Linking existing fast-payment systems is one way, while interoperability between national CBDCs is another. But a single BRICS-wide payment network is yet to take shape. The Indian central bank had recommended that the linking of BRICS members’ CBDCs be included on the agenda of the 2026 BRICS Summit. The aim was to streamline cross-border trade, trade finance and tourism payments through compatible technology and governance arrangements. India has been pushing the CBDC-linking proposal ahead of the BRICS Summit. But technical and political hurdles remain. There are questions over governance, technology compatibility and the issue of trade imbalances between member countries. Currency-swap arrangements and regular settlement mechanisms could be required in the case of large bilateral trade imbalances. Finance ministers and central bank governors have been discussing the BRICS Cross-Border Payments Initiative for some time. The BRICS Payment Task Force is exploring greater interoperability between member states’ payment systems. The idea is for facilitating cross-border payments that are fast, low-cost, accessible, efficient, transparent and safe, while supporting trade and investment flows. Also read: De-dollarisation question of the BRICS economy: How UPI, CIPS, Pix and SPFS could link up to bypass SWIFT? EXPLAIND Settling trade in local currencies: The other part of the equation The RBI is also pushing to expand the international use of the rupee and other national currencies. Malhotra said the RBI would continue efforts to internationalise the rupee and promote the use of local currencies for cross-border payments and trade. India already has bilateral local-currency settlement arrangements with the UAE, Indonesia, Maldives and Mauritius. The RBI’s framework for international trade settlement through the rupee, including Special Rupee Vostro Accounts (SRVAs), is an arrangement alongside the existing system using freely convertible currencies. The RBI’s Inter-Departmental Group on Internationalisation of the Indian Rupee (INR) had recommended expanding the use of local currencies, particularly with major trading partners. Reducing dollar dependence without removing it entirely These measures could reduce the need for, and dependence on, the US dollar in some bilateral transactions, even if “dedollarisation” is not the stated objective. If two BRICS nations can use interoperable payment systems to settle directly in their respective currencies, the transaction may not need to be routed through the dollar. For CBDCs, if digital currencies issued by participating central banks can eventually interact directly under agreed technical and regulatory standards, cross-border payments could become faster and potentially cheaper. It is a form of smart diversification, and eventually a third currency such as the dollar may be required less for such transactions. Is this BRICS dedollarisation? The RBI and Indian government have not presented these initiatives as dedollarisation or as a move towards establishing a BRICS currency. The RBI’s CBDC proposal is not aimed at promoting dedollarisation, and India’s objective is to make international transactions easier and faster, rather than to replace the US dollar as the world’s reserve currency. India has been cautious about BRICS turning into an explicitly anti-dollar financial bloc. There is no agreed BRICS common currency yet. No plan has been announced for a BRICS alternative to the existing international monetary system either. Also read: BRICS 2026: Russia says over 90% of Russia-BRICS trade settled in national currencies The big challenge of trade imbalances The basic problem on any future payment mechanism is how to settle persistent trade imbalances. If a country accumulates large balances in another country’s currency but has limited opportunities to spend or invest them, local-currency settlement can become unsustainable. To manage such imbalances, potential BRICS arrangements could require currency swaps and regular settlement mechanisms.

RBI’s BRICS payments push could make cross-border trade faster and cheaper. Mechanisms being considered include CBDCs, UPI links and local currency settlments. These could reduce dollar dependence without formally pursuing dedollarisation&nbsp;

BRICS Summit 2026: Dedollarisation by other methods? What RBI’s remarks on easier trade payment mechanisms means

China's AI chip race has produced another explosive stock-market debut. Tencent-backed Enflame surged roughly 200% on its first day in Shanghai, with investors betting that the company can help build a domestic alternative to Nvidia.&nbsp;Enflame opened at 410 yuan, compared with its IPO price of 142.18 yuan, and later traded around 430 yuan. That pushed its market value to about 185 billion yuan, roughly three times its IPO valuation.&nbsp;The enthusiasm was visible even before trading began. Enflame's online IPO portion attracted orders for 6,109 times the shares available, forcing the company to move additional shares into the retail allocation. More than seven million investor accounts took part.<h2>China’s Nvidia challengers are gaining momentum</h2>Enflame is one of China's so-called “four little GPU dragons”, alongside Moore Threads, MetaX and Biren Technology. All four are trying to build AI accelerators that can reduce China's dependence on foreign chipmakers such as Nvidia. That effort has become more urgent as US export controls restrict China's access to advanced AI processors. Beijing is also pushing technology self-sufficiency, giving domestic chipmakers a major strategic opportunity.&nbsp;Enflame plans to use money from its 6.12 billion yuan ($912 million) IPO to develop its fifth- and sixth-generation AI chips and related technology.<h2>Investors are betting on a much bigger AI market</h2>The optimism comes despite Enflame still losing money. Its revenue reached 990 million yuan in 2025, up 37% from the previous year. However, it recorded a net loss of about 1.2 billion yuan.&nbsp;The company expects to reach break-even or profitability in 2026 or 2027.&nbsp;There is another important factor: Tencent is both Enflame's biggest shareholder and its largest customer. Tencent will hold about 17.95% after the IPO, while it accounted for 83.79% of Enflame's 2025 revenue. The surge shows how strongly investors are backing China's AI hardware ambitions. But Enflame and its peers still face a difficult test: turning enormous market expectations into chips that can genuinely compete with Nvidia's technology and ecosystem.

Tencent-backed Chinese AI chipmaker Enflame surged roughly 200% in its Shanghai debut, tripling its IPO valuation. The explosive listing reflects investor confidence in China's push for domestic Nvidia alternatives amid US export restrictions and booming AI demand.

China's AI chip race has produced another explosive stock-market debut. Tencent-backed Enflame surged roughly 200% on its first day in Shanghai, with investors betting that the company can help build a domestic alternative to Nvidia. Enflame opened at 410 yuan, compared with its IPO price of 142.18 yuan, and later traded around 430 yuan. That pushed its market value to about 185 billion yuan, roughly three times its IPO valuation. The enthusiasm was visible even before trading began. Enflame's online IPO portion attracted orders for 6,109 times the shares available, forcing the company to move additional shares into the retail allocation. More than seven million investor accounts took part. China’s Nvidia challengers are gaining momentum Enflame is one of China's so-called “four little GPU dragons”, alongside Moore Threads, MetaX and Biren Technology. All four are trying to build AI accelerators that can reduce China's dependence on foreign chipmakers such as Nvidia. That effort has become more urgent as US export controls restrict China's access to advanced AI processors. Beijing is also pushing technology self-sufficiency, giving domestic chipmakers a major strategic opportunity. Enflame plans to use money from its 6.12 billion yuan ($912 million) IPO to develop its fifth- and sixth-generation AI chips and related technology. Investors are betting on a much bigger AI market The optimism comes despite Enflame still losing money. Its revenue reached 990 million yuan in 2025, up 37% from the previous year. However, it recorded a net loss of about 1.2 billion yuan. The company expects to reach break-even or profitability in 2026 or 2027. There is another important factor: Tencent is both Enflame's biggest shareholder and its largest customer. Tencent will hold about 17.95% after the IPO, while it accounted for 83.79% of Enflame's 2025 revenue. The surge shows how strongly investors are backing China's AI hardware ambitions. But Enflame and its peers still face a difficult test: turning enormous market expectations into chips that can genuinely compete with Nvidia's technology and ecosystem.

Tencent-backed Chinese AI chipmaker Enflame surged roughly 200% in its Shanghai debut, tripling its IPO valuation. The explosive listing reflects investor confidence in China's push for domestic Nvidia alternatives amid US export restrictions and booming AI demand.

Nvidia rival Enflame soars 200% in China debut as investors pile into AI chip stocks

Anthropic has reported that a Yemen-based guided weapons engineering cell used its Claude AI models to develop software for several weapons programmes, including a guided rocket and missile systems. The activity was detailed in Anthropic’s September 2026 threat-intelligence report, “Detecting and Countering Misuse of AI”. The company said the activity occurred between December 2025 and August 2026. Anthropic described the actors as a “Yemen-based guided weapons engineering cell” operating in northern Yemen. It did not explicitly identify the cell as the Houthis, but the reported activity took place in Houthi-controlled territory. The cell has been described in subsequent reports as Houthi-linked.&nbsp;<h2>Three weapons programmes identified</h2>Anthropic said the actors used Claude models, including Claude Haiku, Sonnet and Opus, as well as Claude Code. The company investigated the activity, banned the associated accounts and shared information with government and industry partners.&nbsp;<a href="https://www.wionews.com/videos/houthis-vs-saudi-arabia-structures-at-king-khalid-air-base-damaged-1789012190643/embed">https://www.wionews.com/videos/houthis-vs-saudi-arabia-structures-at-king-khalid-air-base-damaged-1789012190643/embed</a>Anthropic identified three weapons-development programmes associated with the Yemen-based cell.One involved a guided rocket using a commercially available, phone-class flight computer and final-phase homing guidance designed to steer the rocket towards a target.A second programme was for a multi-stage ballistic missile with a stated range goal of more than 2,000 kilometres.The third, referred to as the “R2000” set, involved proposed missile variants, including one incorporating a hypersonic glide vehicle.Also read: <a href="https://www.wionews.com/world/houthis-capture-al-mokha-yemen-bab-el-mandeb-red-sea-1789041773019">Houthis capture Yemen's al Mokha port city, advance towards strategic Bab el-Mandeb</a><h2>How Claude was used in weapons development by Yemen-based group</h2>According to Anthropic, Claude Code was used as a substitute for human software engineers for parts of the development of guidance, navigation and control (GNC) software. GNC software is used to steer and stabilise flying vehicles.The reported uses included integrating an open-source autopilot onto a phone-class flight computer, writing control and position-estimation software, tuning control settings, running firmware build pipelines and conducting flight simulations.The actors used multiple Claude instances at the same time, each handling coding, research and code review. Human operators directed the overall work.Anthropic said the cell also attempted to conceal the full purpose of its activities by dividing work across multiple Claude sessions. As a result, no individual conversation revealed the true intent of the weapons programme.The company said its safeguards blocked many weapons-related requests, but not all, as the actors found ways to work around some of its access controls and refusals. The group concealed its objectives and divided tasks in an effort to avoid triggering its safety systems.Also read: <a href="https://www.wionews.com/world/pakistan-walks-back-on-houthi-warning-rules-out-military-action-under-mecca-pact-1789048794860">Pakistan walks back Houthi threat, rules out military action as rebels target Saudi Arabia</a><h2>Claude consulted after guided-rocket test failed</h2>Anthropic said it had no evidence that the actors successfully fielded an operational weapon. However, the company reported that the cell carried out a live field test of a guided rocket.The test appeared to have failed. Anthropic said the actors returned to Claude shortly afterwards to diagnose the failure and investigate what had gone wrong.The disclosure does not establish that Claude independently designed or built a functioning weapon. But it shows that the AI models were used to assist human operators with engineering, coding, simulation and troubleshooting tasks connected to weapons development.Anthropic said it detected the activity through its own investigations into suspected weapons-related misuse, banned the relevant accounts, and shared information with the government and industry partners.The Yemen case was part of a wider set of examples in Anthropic’s September report concerning the misuse of AI models. The company found weapons-related activity in China and Russia, including the use of AI agents and code in drone-related work.&nbsp;&nbsp;

Anthropic said in its latest threat report that a Yemen-based weapons cell used Claude AI to develop missile guidance software and test a guided rocket. Reports say it could be the Houthis


Anthropic has reported that a Yemen-based guided weapons engineering cell used its Claude AI models to develop software for several weapons programmes, including a guided rocket and missile systems. The activity was detailed in Anthropic’s September 2026 threat-intelligence report, “Detecting and Countering Misuse of AI”. The company said the activity occurred between December 2025 and August 2026. Anthropic described the actors as a “Yemen-based guided weapons engineering cell” operating in northern Yemen. It did not explicitly identify the cell as the Houthis, but the reported activity took place in Houthi-controlled territory. The cell has been described in subsequent reports as Houthi-linked. Three weapons programmes identified Anthropic said the actors used Claude models, including Claude Haiku, Sonnet and Opus, as well as Claude Code. The company investigated the activity, banned the associated accounts and shared information with government and industry partners. https://www.wionews.com/videos/houthis-vs-saudi-arabia-structures-at-king-khalid-air-base-damaged-1789012190643/embed Anthropic identified three weapons-development programmes associated with the Yemen-based cell. One involved a guided rocket using a commercially available, phone-class flight computer and final-phase homing guidance designed to steer the rocket towards a target. A second programme was for a multi-stage ballistic missile with a stated range goal of more than 2,000 kilometres. The third, referred to as the “R2000” set, involved proposed missile variants, including one incorporating a hypersonic glide vehicle. Also read: Houthis capture Yemen's al Mokha port city, advance towards strategic Bab el-Mandeb How Claude was used in weapons development by Yemen-based group According to Anthropic, Claude Code was used as a substitute for human software engineers for parts of the development of guidance, navigation and control (GNC) software. GNC software is used to steer and stabilise flying vehicles. The reported uses included integrating an open-source autopilot onto a phone-class flight computer, writing control and position-estimation software, tuning control settings, running firmware build pipelines and conducting flight simulations. The actors used multiple Claude instances at the same time, each handling coding, research and code review. Human operators directed the overall work. Anthropic said the cell also attempted to conceal the full purpose of its activities by dividing work across multiple Claude sessions. As a result, no individual conversation revealed the true intent of the weapons programme. The company said its safeguards blocked many weapons-related requests, but not all, as the actors found ways to work around some of its access controls and refusals. The group concealed its objectives and divided tasks in an effort to avoid triggering its safety systems. Also read: Pakistan walks back Houthi threat, rules out military action as rebels target Saudi Arabia Claude consulted after guided-rocket test failed Anthropic said it had no evidence that the actors successfully fielded an operational weapon. However, the company reported that the cell carried out a live field test of a guided rocket. The test appeared to have failed. Anthropic said the actors returned to Claude shortly afterwards to diagnose the failure and investigate what had gone wrong. The disclosure does not establish that Claude independently designed or built a functioning weapon. But it shows that the AI models were used to assist human operators with engineering, coding, simulation and troubleshooting tasks connected to weapons development. Anthropic said it detected the activity through its own investigations into suspected weapons-related misuse, banned the relevant accounts, and shared information with the government and industry partners. The Yemen case was part of a wider set of examples in Anthropic’s September report concerning the misuse of AI models. The company found weapons-related activity in China and Russia, including the use of AI agents and code in drone-related work.

Anthropic said in its latest threat report that a Yemen-based weapons cell used Claude AI to develop missile guidance software and test a guided rocket. Reports say it could be the Houthis &nbsp;

Houthis used Claude AI for weapons development and guided-rocket test? What Anthropic threat report claimed

New Delhi, September 11, 2026: WION (World Is One News—India's global news channel) today announced WION World Conferences, a curated series of summits, conferences, conclaves, and engagements that will bring together policymakers, business leaders, diplomats, investors, academics, experts, and changemakers to examine the issues transforming India and the world.&nbsp;The initiative comes at a defining moment for the global order. As globalisation faces profound disruption, geopolitical realignments deepen and technology and economic forces redraw traditional boundaries, WION World Conferences will examine these shifts, debate their implications, and explore new opportunities for cooperation.&nbsp;Built around WION’s core philosophy of ‘World Is One’, the platform will take conversations beyond headlines—bringing global perspectives into dialogue with country-specific priorities.&nbsp;Its agenda will span AI, sustainability, tourism, defence, diplomacy, global economics, education, technology, and the future of work, alongside country-to-country partnerships through high-level keynotes, panel discussions, fireside conversations, closed-door roundtables, and strategic networking.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/bond-tokenization-summit-2026-tokenization-explained-how-blockchain-could-change-the-way-you-own-everything-from-homes-to-bonds-1789026218424">Bond Tokenization Summit 2026: How blockchain could change the way you own everything from homes to bonds</a>&nbsp;Announcing the initiative, Raktim Das, CEO, Zee Media Corporation Limited, said: “WION has been about taking India’s conversations to the world and bringing the world’s conversations to India. WION World Conferences is a natural extension of that mission. The world is changing rapidly, and so are the relationships between countries, economies, and people. These platforms will bring together those shaping policy, business and society to engage with the big questions of our time, challenge conventional thinking, and explore new possibilities for collaboration.”<h2>From a Soft Start to a Global Platform</h2>&nbsp;While WION World Conferences is being formally announced today, the platform has already begun taking shape.&nbsp;In May 2026, WION made a soft start with the WION Global Innovation and Leadership Summit in Colombo, bringing together leading Sri Lankan business leaders, policymakers, and influential voices to examine the future of the India-Sri Lanka relationship.&nbsp;The discussions highlighted the potential for deeper economic cooperation, with Sri Lankan business leaders calling for a rethink of existing trade dynamics with India, greater market access and deeper economic integration to unlock the full potential of bilateral ties.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/bond-tokenization-summit-2026-how-india-s-bond-market-is-transforming-for-retail-investors-1789026873158">Bond Tokenization Summit 2026: How India's bond market is transforming for retail investors</a>&nbsp;The Colombo summit offered an early demonstration of the role WION seeks to play — creating credible spaces where countries and communities can move beyond conventional narratives, openly examine shared challenges and identify opportunities for stronger partnerships.&nbsp;Building on that momentum, September 2026 will see WION convene focused forums on Tourism, Bond Tokenization and AI in Education, marking the next phase in the rollout of WION World Conferences.

<h2>From India’s Window to the World — to the World’s Window into India</h2>&nbsp;WION has established itself as a global-facing news platform connecting India with audiences and conversations across geographies. WION World Conferences takes that proposition from the newsroom to the conference room, creating spaces for international engagement, cross-border dialogue, and collaboration.&nbsp;With engagements spanning India, Asia, and Africa, as well as major global platforms such as Davos, the initiative will strengthen WION’s role as a forum for international dialogue.&nbsp;The conversation will not end when the event does. WION’s television, digital and social platforms will take the ideas and debates from the room to audiences across India and the world through interviews, explainers, television specials, digital stories, opinion pieces and follow-up programming.

From AI and sustainability to tourism, diplomacy, defence, trade and the future of work, WION World Conferences will explore India’s place in a rapidly changing world.

New Delhi, September 11, 2026: WION (World Is One News—India's global news channel) today announced WION World Conferences, a curated series of summits, conferences, conclaves, and engagements that will bring together policymakers, business leaders, diplomats, investors, academics, experts, and changemakers to examine the issues transforming India and the world. The initiative comes at a defining moment for the global order. As globalisation faces profound disruption, geopolitical realignments deepen and technology and economic forces redraw traditional boundaries, WION World Conferences will examine these shifts, debate their implications, and explore new opportunities for cooperation. Built around WION’s core philosophy of ‘World Is One’, the platform will take conversations beyond headlines—bringing global perspectives into dialogue with country-specific priorities. Its agenda will span AI, sustainability, tourism, defence, diplomacy, global economics, education, technology, and the future of work, alongside country-to-country partnerships through high-level keynotes, panel discussions, fireside conversations, closed-door roundtables, and strategic networking. Also read: Bond Tokenization Summit 2026: How blockchain could change the way you own everything from homes to bonds Announcing the initiative, Raktim Das, CEO, Zee Media Corporation Limited, said: “WION has been about taking India’s conversations to the world and bringing the world’s conversations to India. WION World Conferences is a natural extension of that mission. The world is changing rapidly, and so are the relationships between countries, economies, and people. These platforms will bring together those shaping policy, business and society to engage with the big questions of our time, challenge conventional thinking, and explore new possibilities for collaboration.” From a Soft Start to a Global Platform While WION World Conferences is being formally announced today, the platform has already begun taking shape. In May 2026, WION made a soft start with the WION Global Innovation and Leadership Summit in Colombo, bringing together leading Sri Lankan business leaders, policymakers, and influential voices to examine the future of the India-Sri Lanka relationship. The discussions highlighted the potential for deeper economic cooperation, with Sri Lankan business leaders calling for a rethink of existing trade dynamics with India, greater market access and deeper economic integration to unlock the full potential of bilateral ties. Also read: Bond Tokenization Summit 2026: How India's bond market is transforming for retail investors The Colombo summit offered an early demonstration of the role WION seeks to play — creating credible spaces where countries and communities can move beyond conventional narratives, openly examine shared challenges and identify opportunities for stronger partnerships. Building on that momentum, September 2026 will see WION convene focused forums on Tourism, Bond Tokenization and AI in Education, marking the next phase in the rollout of WION World Conferences.

From AI and sustainability to tourism, diplomacy, defence, trade and the future of work, WION World Conferences will explore India’s place in a rapidly changing world.

WION announces WION World Conferences — A global platform for the power of ideas

Diesel's average price in the United States has jumped to $6 a gallon. This marks the first time the price has surged in fuel costs, as the war including the US, Israel and Iran, and disruptions at Russian refineries have strained the global supply chain. GasBuddy reports indicate that the US national average had crossed $6 a gallon on Friday, prompting AAA to put the average price at $5.98 a gallon on the same day, rising 61 per cent from $3.71 last year. The price surge is driven by power trucks, trains, ships, farm machinery and construction equipment. Higher diesel prices can also increase the cost of mobile goods and operating businesses. Meanwhile, Benchmark Brent crude oil price also rose more than $100 a barrel on Friday amid escalating conflicts in the region. Amid this, Brent crude oil price settled at $107.63 a barrel; however, the price of the US West Texas Intermediate crude oil settled at $102.48.&nbsp;While crude oil remains the main factor behind fuel prices, the recent spike in diesel prices is being made worse by a shortage of refined fuel. The escalating conflict involving the US, Israel and Iran has disrupted oil shipments through the Strait of Hormuz, a key global energy route that typically carries around one-fifth of the world's oil supply.&nbsp;Also read: <a href="https://www.wionews.com/india-news/economic-diplomacy-need-of-the-hour-piyush-goyal-pushes-for-simplified-trade-at-brics-1789102769070">‘Economic diplomacy need of the hour’: Piyush Goyal pushes for simplified trade at BRICS Business Forum</a><h3>Strain in diesel market due to disruptions in Russia's refining capacity</h3>The diesel market is under further strain due to disruptions in Russia's refining capacity, caused by repeated Ukrainian drone strikes on the country's energy infrastructure. Adding to this, Russia has restricted diesel exports, cutting down the fuel available to global markets, while China's own export restrictions have tightened supplies even more. As a result, diesel prices have climbed faster than gasoline prices.&nbsp;&nbsp;According to AAA data, the average US gasoline price stood at around $4.28 a gallon on September 10. This price surge is happening even though US refiners are running at high utilisation rates. Data from the US Energy Information Administration shows that US diesel inventories stood at 106.3 million barrels, about 13 per cent below the five-year average.&nbsp;

The price surge is driven by power trucks, trains, ships, farm machinery and construction equipment. Higher diesel prices can also increase the cost of mobile goods and operating businesses.

Diesel's average price in the United States has jumped to $6 a gallon. This marks the first time the price has surged in fuel costs, as the war including the US, Israel and Iran, and disruptions at Russian refineries have strained the global supply chain. GasBuddy reports indicate that the US national average had crossed $6 a gallon on Friday, prompting AAA to put the average price at $5.98 a gallon on the same day, rising 61 per cent from $3.71 last year. The price surge is driven by power trucks, trains, ships, farm machinery and construction equipment. Higher diesel prices can also increase the cost of mobile goods and operating businesses. Meanwhile, Benchmark Brent crude oil price also rose more than $100 a barrel on Friday amid escalating conflicts in the region. Amid this, Brent crude oil price settled at $107.63 a barrel; however, the price of the US West Texas Intermediate crude oil settled at $102.48. While crude oil remains the main factor behind fuel prices, the recent spike in diesel prices is being made worse by a shortage of refined fuel. The escalating conflict involving the US, Israel and Iran has disrupted oil shipments through the Strait of Hormuz, a key global energy route that typically carries around one-fifth of the world's oil supply. Also read: ‘Economic diplomacy need of the hour’: Piyush Goyal pushes for simplified trade at BRICS Business Forum Strain in diesel market due to disruptions in Russia's refining capacity The diesel market is under further strain due to disruptions in Russia's refining capacity, caused by repeated Ukrainian drone strikes on the country's energy infrastructure. Adding to this, Russia has restricted diesel exports, cutting down the fuel available to global markets, while China's own export restrictions have tightened supplies even more. As a result, diesel prices have climbed faster than gasoline prices. According to AAA data, the average US gasoline price stood at around $4.28 a gallon on September 10. This price surge is happening even though US refiners are running at high utilisation rates. Data from the US Energy Information Administration shows that US diesel inventories stood at 106.3 million barrels, about 13 per cent below the five-year average.

The price surge is driven by power trucks, trains, ships, farm machinery and construction equipment. Higher diesel prices can also increase the cost of mobile goods and operating businesses.

US diesel prices cross $6 per gallon for first time, surge 61% in a year amid Middle East conflict

India’s corporate bond market is beginning to take a closer look at blockchain as a possible way to modernise some of its long-standing processes. At the Zee Business Bond Tokenization Summit 2026, co-presented by E-Sutra and Blockmaze, leaders from the finance, policy and technology sectors discussed whether blockchain could fundamentally alter how bonds are issued, settled and owned in India. Held in Mumbai on Wed (Sep 9), the event brought together voices who discussed the future of bond tokenization and the broader application of blockchain-based digital assets. A key focus was the use of digital tokens to represent ownership or economic value connected to real-world financial and physical assets. The conversation moved beyond the realm of fintech experimentation.&nbsp;<h2>What does bond tokenization actually mean?</h2>Bond tokenization involves creating digital tokens using blockchain infrastructure to represent ownership or economic rights associated with a bond.Rather than relying solely on conventional systems to maintain ownership records, the information can be stored on a shared digital ledger. Smart contracts can automatically handle tasks such as interest payments, principal repayments and some compliance requirements. This could have three immediate implications: fewer intermediaries, quicker transactions and the possibility of breaking a large bond into smaller units that investors can purchase individually.<h2>Four ways tokenization could change the bond market.&nbsp;</h2>At the Zee Business Bond Tokenization Summit 2026, participants highlighted four ways tokenization could change the bond market. First, it could make bonds more accessible through fractional ownership, allowing large bonds to be divided into smaller digital units so retail and smaller investors can participate with lower amounts. Second, tokenization could speed up issuance and settlement by using smart contracts to automatically handle coupon payments, redemptions and corporate actions, reducing manual work and enabling near real-time transfers. Third, blockchain could improve transparency by creating a time-stamped and verifiable record of ownership and transactions, while permissioned systems could provide issuers, investors and regulators with a clear audit trail, subject to KYC, custody and SEBI and RBI requirements. Finally, tokenization could lower distribution and settlement costs, making smaller bond issues more viable and allowing more issuers to access the market directly.<h2>Regulation remains the key hurdle</h2>Panelists repeatedly highlighted the importance of regulation at the Zee Business Bond Tokenization Summit 2026. Blockchain infrastructure by itself cannot determine whether tokenized bonds become a mainstream financial product, they said. Issues such as investor protection, KYC and anti-money laundering requirements, custody, settlement finality, taxation and interoperability with existing depositories will all have to be addressed.The regulatory architecture could ultimately determine how quickly tokenized bonds move from experimental projects and pilots into the mainstream market. Without sufficient certainty around these issues, the technology cannot become part of the wider financial system.<h2>Why India could have an advantage</h2>Experts at the Zee Business Bond Tokenization Summit 2026 said that the case for India is also linked to the country's rapidly developing digital financial infrastructure. Systems such as UPI, account aggregators and e-rupee pilots are developing alongside the broader digital economy. If blockchain-based infrastructure for bonds can connect with this ecosystem, while regulation evolves at the same pace, India could potentially create a tokenized bond market that is globally competitive while still operating within a trusted-intermediary framework.<h2>The top focus</h2>The summit focused on four key conversations around the technology, regulation and investment potential of tokenized assets. “Code to Capital” explored how traditional bonds can be represented on blockchain and what bond tokenization means in practical terms. “Sandbox to Scale” looked at the regulatory, custody and settlement frameworks needed to take tokenization from pilot projects to wider adoption. “Code, Connectivity &amp; Capital” examined how blockchain and smart contracts could make bond issuance and settlement faster and reduce manual processes. “Think Global, Tokenize Local” focused on whether fractional investment through tokenized bonds could increase retail participation and make fixed-income investments more accessible.

Bond tokenization could reshape India’s corporate bond market by using blockchain to enable fractional ownership, faster settlement, automated payments and greater transparency. At the Zee Business Bond Tokenization Summit 2026, experts discussed the road ahead.

India’s corporate bond market is beginning to take a closer look at blockchain as a possible way to modernise some of its long-standing processes. At the Zee Business Bond Tokenization Summit 2026, co-presented by E-Sutra and Blockmaze, leaders from the finance, policy and technology sectors discussed whether blockchain could fundamentally alter how bonds are issued, settled and owned in India. Held in Mumbai on Wed (Sep 9), the event brought together voices who discussed the future of bond tokenization and the broader application of blockchain-based digital assets. A key focus was the use of digital tokens to represent ownership or economic value connected to real-world financial and physical assets. The conversation moved beyond the realm of fintech experimentation. What does bond tokenization actually mean? Bond tokenization involves creating digital tokens using blockchain infrastructure to represent ownership or economic rights associated with a bond. Rather than relying solely on conventional systems to maintain ownership records, the information can be stored on a shared digital ledger. Smart contracts can automatically handle tasks such as interest payments, principal repayments and some compliance requirements. This could have three immediate implications: fewer intermediaries, quicker transactions and the possibility of breaking a large bond into smaller units that investors can purchase individually. Four ways tokenization could change the bond market. At the Zee Business Bond Tokenization Summit 2026, participants highlighted four ways tokenization could change the bond market. First, it could make bonds more accessible through fractional ownership, allowing large bonds to be divided into smaller digital units so retail and smaller investors can participate with lower amounts. Second, tokenization could speed up issuance and settlement by using smart contracts to automatically handle coupon payments, redemptions and corporate actions, reducing manual work and enabling near real-time transfers. Third, blockchain could improve transparency by creating a time-stamped and verifiable record of ownership and transactions, while permissioned systems could provide issuers, investors and regulators with a clear audit trail, subject to KYC, custody and SEBI and RBI requirements. Finally, tokenization could lower distribution and settlement costs, making smaller bond issues more viable and allowing more issuers to access the market directly. Regulation remains the key hurdle Panelists repeatedly highlighted the importance of regulation at the Zee Business Bond Tokenization Summit 2026. Blockchain infrastructure by itself cannot determine whether tokenized bonds become a mainstream financial product, they said. Issues such as investor protection, KYC and anti-money laundering requirements, custody, settlement finality, taxation and interoperability with existing depositories will all have to be addressed. The regulatory architecture could ultimately determine how quickly tokenized bonds move from experimental projects and pilots into the mainstream market. Without sufficient certainty around these issues, the technology cannot become part of the wider financial system. Why India could have an advantage Experts at the Zee Business Bond Tokenization Summit 2026 said that the case for India is also linked to the country's rapidly developing digital financial infrastructure. Systems such as UPI, account aggregators and e-rupee pilots are developing alongside the broader digital economy. If blockchain-based infrastructure for bonds can connect with this ecosystem, while regulation evolves at the same pace, India could potentially create a tokenized bond market that is globally competitive while still operating within a trusted-intermediary framework. The top focus The summit focused on four key conversations around the technology, regulation and investment potential of tokenized assets. “Code to Capital” explored how traditional bonds can be represented on blockchain and what bond tokenization means in practical terms. “Sandbox to Scale” looked at the regulatory, custody and settlement frameworks needed to take tokenization from pilot projects to wider adoption. “Code, Connectivity & Capital” examined how blockchain and smart contracts could make bond issuance and settlement faster and reduce manual processes. “Think Global, Tokenize Local” focused on whether fractional investment through tokenized bonds could increase retail participation and make fixed-income investments more accessible.

Bond tokenization could reshape India’s corporate bond market by using blockchain to enable fractional ownership, faster settlement, automated payments and greater transparency. At the Zee Business Bond Tokenization Summit 2026, experts discussed the road ahead.

Bond Tokenization Summit 2026: How blockchain could change the way you own everything from homes to bonds

The global push for bond tokenisation is gaining momentum, but financial experts warn that creating digital tokens is only the beginning of a much longer journey. The Zee Business Bond Tokenization Summit 2026, organised in Mumbai on September 9, brought together leaders from finance, policy and technology to examine how real-world asset (RWA) tokenisation and digital bonds could reshape India’s financial landscape and democratise passive income for retail investors.&nbsp;The penultimate panel discussion at the summit focused on the need for robust frameworks, safeguards and stronger investor protection as tokenised assets move closer to mainstream adoption. STOEX CEO Sudeep Chatterjee said the concept of Security Token Offerings (STOs) has helped streamline the asset issuance process, but argued that a much broader infrastructure is required to support digital assets beyond the point of issuance. Chatterjee said industry leaders are increasingly turning their attention to the logistical, legal and operational challenges that emerge after a token is minted.<h2>Singapore offers a glimpse of the challenges</h2>Chatterjee cited Singapore as an example of the gap that can emerge between technological capability and market readiness. The country has emerged as a major testing ground for digital finance, with the Monetary Authority of Singapore (MAS) using Project Guardian to explore tokenised financial assets. "Under the Monetary Authority of Singapore's (MAS) Project Guardian, financial institutions have conducted approximately 15 localized sandbox experiments to test tokenized assets.While these trials proved that tokenized bonds can be successfully issued on a ledger, they also exposed a fragmented secondary market," said Chatterjee. The experience, he said, highlights a fundamental challenge facing the tokenisation industry: successfully creating a token does not automatically create a functioning market around it.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/over-919-kolkata-hotels-receive-temporary-closure-notices-over-fire-safety-lapses-1789023488468">Over 919 Kolkata hotels receive temporary closure notices over fire safety lapses</a><h2>Three key challenges after a token is created</h2><ul><li>Trading and liquidity: Tokenised bonds need access to traditional and digital exchanges where they can be listed and actively traded. Without sufficient secondary-market liquidity, tokenisation may not deliver its promised benefits to investors.</li><li>Asset safeguarding: The industry needs secure, institutional-grade custody infrastructure capable of protecting digital assets while providing investors with confidence around ownership and security.</li><li>Settlement and onboarding: Market participants also need mechanisms for real-time distribution and standardised processes through which global investors can legally access tokenised asset networks.</li></ul><h3>Legal recognition of digital ownership</h3>One of the biggest challenges, he said, is establishing the legal status of tokenised ownership. "First, the industry is introducing an entirely new method of asset ownership. For these digital bonds to scale, this new format must be deeply regularized and legislated. Global legal frameworks must explicitly define what a token represents, ensuring that digital ownership holds the exact same legal weight as traditional paper-and-registry documentation in a court of law," he said.<h2>Cybersecurity remains another major hurdle</h2>Beyond regulation, blockchain-based infrastructure introduces a new set of operational and cybersecurity risks. "Second, blockchain infrastructure brings its own distinct operational challenges, most notably the threat of cyberattacks and hacking risks. Smart contracts and distributed networks open up new vulnerabilities that require robust, institutional-grade defense systems," said Chatterjee.&nbsp;He argued, however, that such technology-related risks should be viewed as part of the broader evolution of financial systems rather than as a reason to halt innovation. Chatterjee emphasised that the banking sector itself has faced significant IT and technology risks during its digital transformation over the past three decades. Tokenisation, he said, will face similar challenges as traditional financial ownership is combined with blockchain-based technology. The priority now, according to Chatterjee, should be to address these vulnerabilities proactively by establishing stronger legal, regulatory, cybersecurity and market infrastructure.

Bond tokenisation in India faces challenges beyond issuance, with experts highlighting regulation, liquidity, custody, settlement and cybersecurity risks

The global push for bond tokenisation is gaining momentum, but financial experts warn that creating digital tokens is only the beginning of a much longer journey. The Zee Business Bond Tokenization Summit 2026, organised in Mumbai on September 9, brought together leaders from finance, policy and technology to examine how real-world asset (RWA) tokenisation and digital bonds could reshape India’s financial landscape and democratise passive income for retail investors. The penultimate panel discussion at the summit focused on the need for robust frameworks, safeguards and stronger investor protection as tokenised assets move closer to mainstream adoption. STOEX CEO Sudeep Chatterjee said the concept of Security Token Offerings (STOs) has helped streamline the asset issuance process, but argued that a much broader infrastructure is required to support digital assets beyond the point of issuance. Chatterjee said industry leaders are increasingly turning their attention to the logistical, legal and operational challenges that emerge after a token is minted. Singapore offers a glimpse of the challenges Chatterjee cited Singapore as an example of the gap that can emerge between technological capability and market readiness. The country has emerged as a major testing ground for digital finance, with the Monetary Authority of Singapore (MAS) using Project Guardian to explore tokenised financial assets. "Under the Monetary Authority of Singapore's (MAS) Project Guardian, financial institutions have conducted approximately 15 localized sandbox experiments to test tokenized assets.While these trials proved that tokenized bonds can be successfully issued on a ledger, they also exposed a fragmented secondary market," said Chatterjee. The experience, he said, highlights a fundamental challenge facing the tokenisation industry: successfully creating a token does not automatically create a functioning market around it. Also Read: Over 919 Kolkata hotels receive temporary closure notices over fire safety lapses Three key challenges after a token is created Trading and liquidity: Tokenised bonds need access to traditional and digital exchanges where they can be listed and actively traded. Without sufficient secondary-market liquidity, tokenisation may not deliver its promised benefits to investors. Asset safeguarding: The industry needs secure, institutional-grade custody infrastructure capable of protecting digital assets while providing investors with confidence around ownership and security. Settlement and onboarding: Market participants also need mechanisms for real-time distribution and standardised processes through which global investors can legally access tokenised asset networks. Legal recognition of digital ownership One of the biggest challenges, he said, is establishing the legal status of tokenised ownership. "First, the industry is introducing an entirely new method of asset ownership. For these digital bonds to scale, this new format must be deeply regularized and legislated. Global legal frameworks must explicitly define what a token represents, ensuring that digital ownership holds the exact same legal weight as traditional paper-and-registry documentation in a court of law," he said. Cybersecurity remains another major hurdle Beyond regulation, blockchain-based infrastructure introduces a new set of operational and cybersecurity risks. "Second, blockchain infrastructure brings its own distinct operational challenges, most notably the threat of cyberattacks and hacking risks. Smart contracts and distributed networks open up new vulnerabilities that require robust, institutional-grade defense systems," said Chatterjee. He argued, however, that such technology-related risks should be viewed as part of the broader evolution of financial systems rather than as a reason to halt innovation. Chatterjee emphasised that the banking sector itself has faced significant IT and technology risks during its digital transformation over the past three decades. Tokenisation, he said, will face similar challenges as traditional financial ownership is combined with blockchain-based technology. The priority now, according to Chatterjee, should be to address these vulnerabilities proactively by establishing stronger legal, regulatory, cybersecurity and market infrastructure.

Bond tokenization is gaining momentum, but experts warn that regulation, liquidity, custody, settlement and cybersecurity must evolve before digital bonds scale

Bond Tokenization Summit 2026: Experts flag liquidity, custody and cybersecurity challenges for digital bonds

Real-world asset (RWA) tokenization could open up new ways of investing in bonds, private credit, trade receivables and other income-generating assets, according to experts speaking at the&nbsp;Zee Business Bond Tokenization Summit 2026, organised in Mumbai on Wednesday, September 9. The Summit saw the country’s finance, policy and technology leaders come together to discuss the future of bond tokenization. The central idea was to use blockchain-based digital tokens to represent the ownership or economic value associated with real-world financial and physical assets.&nbsp;Experts said the technology could potentially improve access, liquidity, price discovery and fractional participation in assets that are currently difficult for smaller investors to access. However, they also cautioned that India will need to clearly define what a token represents from a legal and regulatory perspective before the market can scale.<h2>What is real-world asset (RWA) tokenization?</h2>&nbsp;RWA tokenization broadly refers to bringing an asset or its economic value onto a blockchain-based digital infrastructure through tokens. During the discussion, Ramana Kumar A, President of ADI Foundation of Abu Dhabi, said tokenization should not be viewed only through the lens of corporate bonds.&nbsp;"I think the concept is very clear. People have run behind equity. Debt is now the biggest factor," Kumar said, arguing that investors should look beyond conventional bonds at other assets capable of generating cash flows.&nbsp;According to Kumar, these could include trade receivables, private credit, treasury-related cash flows and other forms of economic interests linked to real-world assets.&nbsp;"We should not just focus on bonds. Focus on trade receivables. Focus on cash flow arbitrage. Focus on treasury tokens," he said.&nbsp;Kumar said the broader opportunity could create new liquidity and investment avenues for investors who currently have relatively limited choices between bank deposits, savings products and more complex wealth-management offerings.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/bond-tokenization-summit-market-leaders-map-out-the-future-of-digital-debt-in-mumbai-1789021040196">Bond Tokenization Summit 2026: Market leaders map out the future of digital debt in Mumbai</a><h2>How could tokenization change the bond market?</h2>&nbsp;Zubin Goyal, CEO and Director of Exchange One, said bond tokenization could be particularly significant for India because many bonds currently have limited liquidity and price discovery. Goyal, who previously worked as a bond trader, said the market for government securities and corporate bonds has significant potential for wider participation.&nbsp;"If you're able to tokenize these assets, open up the access to this market, to not just institutional investors, but high net worth investors, retail investors, foreign investors, and just make the sort of guardrails a little bit more relaxed," he said, clarifying that he was referring to participation rather than relaxing compliance requirements. According to Goyal, greater participation could improve price discovery and liquidity in bonds.&nbsp;He said tokenization could also expand the utility of a bond after it has been purchased. A tokenized bond, for example, could potentially be used as collateral to borrow funds."If that bond is sitting in my ledger, I can take that anywhere," Goyal said. He gave an example of an investor using a Rs 10 lakh bond as collateral to borrow against it. Because the asset is tokenized, borrowing periods could potentially become more flexible, allowing for shorter-duration funding rather than requiring conventional three-month, six-month or one-year borrowing periods, he said. "The settlement cycle, everything gets accelerated," Goyal added.<h2>Could tokenization improve access to credit for SMEs?</h2>&nbsp;Prashant Nikam, co-founder and Chairman of Sapio Analytics, said bond tokenization could potentially help deepen and widen India's financial markets, particularly by improving access for smaller businesses.&nbsp;According to Nikam, government and highly rated blue-chip issuers generally do not face major difficulties in accessing the bond market through existing systems. "It is the SME who hasn't been able to really access the bond market," he said. Nikam said tokenization and fractionalisation could potentially help bring a wider pool of investors into SME financing.&nbsp;"If we can use this new methodology, this new technology, to give them better access to the market, to raise finance, and to get more wider participation through getting that bond fractionalized, I think that will be the real great value we can unleash in a bond tokenization market," he said. However, he acknowledged that attracting investors to SME-linked credit would remain challenging because of credit-risk concerns.&nbsp;"If we can fractionalize the bonds, then we might be able to attract a new set of investors who may be willing to take the chances on this new asset class," Nikam said, while adding that the process would not necessarily be easy. He said the benefits could outweigh the cost of building the required blockchain infrastructure if the system succeeds in bringing SMEs and new investors into the market.<h2>Beyond bonds: Trade receivables and private credit</h2>&nbsp;Kumar said some of the biggest opportunities in RWA tokenization may lie outside traditional corporate bonds. He cited examples from overseas markets involving trade receivables, private credit and other cash-flow-linked assets.&nbsp;For example, Kumar described a model in which receivables from fintech companies were pooled through a special purpose vehicle, or SPV, to create what he called a "treasury token".&nbsp;He said such structures could create investment products linked to short-duration receivables rather than requiring investors to rely solely on conventional corporate bonds.Kumar also pointed to private credit and trade-related financing as areas that could potentially be replicated in India.&nbsp;"These are the assets that should go into tokenization," he said while discussing suppliers that wait 90 to 120 days to receive payments. The opportunity, according to Kumar, lies in bringing economic interests and cash flows associated with such assets onto digital infrastructure.&nbsp;<h2>Fractional investing and faster movement of capital</h2>&nbsp;One of the major potential benefits of tokenization is fractionalisation, which could allow investors to participate in assets in smaller units. Goyal compared the potential impact of tokenization with the way digital infrastructure increased the speed and convenience of payments in India.&nbsp;"Nothing in the existing infra has been replaced, but you've been able to add a level of speed, a level of velocity to sort of daily life," he said, referring to the evolution of India's digital financial infrastructure.&nbsp;According to Goyal, tokenization could similarly add "velocity, discoverability, fractionalization" to financial markets and real-world assets. The underlying idea, he said, is that faster circulation and movement of capital could potentially improve liquidity across the financial system.<h2>Token ownership versus economic value: The key legal question</h2>&nbsp;Despite the potential benefits, experts said one of the most important questions for India is determining exactly what ownership of a token represents. Kumar said the industry cannot treat all forms of tokenization in the same way. "We should understand, while we are talking tokenization very easily, let's understand what is a token," he said.&nbsp;"Are we talking about a legal ownership? Are we talking about a financial instrument? Are we talking about a token being an economic value? It's important what it is, so we know what regulation is needed."&nbsp;According to Kumar, direct tokenization of legal ownership of physical assets could create complex legal and jurisdictional questions. He gave the example of a coffee-related asset, where questions could arise over responsibility if there were disputes over the quality of the underlying product.&nbsp;Kumar said his experience had led to a different approach: instead of directly tokenizing legal ownership of an underlying asset, structures could potentially place assets into an SPV and create a tokenized fund or instrument linked to their economic value. "You're not buying the legal ownership of the tokens. You're buying the economic value of the tokens and that's how you create liquidity," he said.<h2>Can India use its existing financial infrastructure?</h2>&nbsp;Goyal argued that tokenization does not necessarily require India to replace its existing financial system.&nbsp;"I don't think you need fresh regulation, you don't need fresh institutions, you don't need fresh platforms to come out," he said, adding that regulators, exchanges, market infrastructure providers and other existing participants could potentially continue to operate while tokenization adds another layer to the system.&nbsp;However, Kumar took a more nuanced view, saying that existing frameworks may not be sufficient where tokens represent direct legal ownership of assets. "If you talk about asset ownership, you cannot have existing systems work. It will not work," he said.&nbsp;"You need to have new regulation that defines what is a token legal ownership means."The discussion highlighted that the regulatory approach may depend on the nature of the underlying asset and what rights the token holder receives.&nbsp;Zubin Goyal also pointed out that fungible assets such as bonds may be easier to structure than unique or bespoke physical assets.&nbsp;A unit of a particular government security or bond can be interchangeable, whereas different lots of physical commodities such as coffee may have different characteristics and associated risks, he said.<h2>Why bonds could be India's starting point</h2>&nbsp;Nikam said beginning with bond tokenization could be a practical way for India to build investor awareness and experience before expanding tokenization into more complex real-world assets such as infrastructure. "I think the government is doing the right thing. They have started off with a bond tokenization," he said.&nbsp;"To tokenize real world asset, infrastructure asset, is gonna be a little more complicated. So before we can go there, I think the bond tokenization will probably set the stage, will create investor awareness."&nbsp;He said tokenization could later potentially be extended to infrastructure financing and municipal bonds.&nbsp;Infrastructure projects require capital at different stages, including planning and design, construction, and operations and maintenance, Nikam said. Different financing structures could potentially be designed for different stages to access capital more efficiently.<h2>The road ahead for India</h2>&nbsp;The experts agreed that RWA tokenization could create new investment and financing possibilities, but its success would depend on balancing innovation with governance.Nikam said India should not lose sight of governance while pursuing efficiency."We have embarked on a new journey," he said. “Governance and efficiency will have to be finally balanced. So I think we must not lose sight of governance, just to push efficiency agenda.” Kumar, meanwhile, said India should look beyond simply copying global models and develop structures that work within clear legal and financial frameworks.&nbsp;The opportunity, according to the panel, could extend from tokenized bonds to SME financing, private credit, trade receivables and other cash-flow-generating assets.For investors, tokenization could eventually mean access to a wider range of assets in smaller units. For borrowers and businesses, it could potentially open new channels for raising capital. And for financial markets, supporters believe it could improve liquidity, price discovery and the speed at which capital moves through the system.&nbsp;But before that opportunity can fully take shape, India will have to answer a fundamental question: when an investor buys a token, what exactly do they own—the underlying asset, a financial instrument or simply its economic value? The answer could determine how India's real-world asset tokenization market develops.

Discover how discussions at the Bond Tokenization Summit 2026 are paving the way for digital debt, real-world asset tokenization, and fresh investment avenues across India's financial landscape.

Real-world asset (RWA) tokenization could open up new ways of investing in bonds, private credit, trade receivables and other income-generating assets, according to experts speaking at the Zee Business Bond Tokenization Summit 2026, organised in Mumbai on Wednesday, September 9. The Summit saw the country’s finance, policy and technology leaders come together to discuss the future of bond tokenization. The central idea was to use blockchain-based digital tokens to represent the ownership or economic value associated with real-world financial and physical assets. Experts said the technology could potentially improve access, liquidity, price discovery and fractional participation in assets that are currently difficult for smaller investors to access. However, they also cautioned that India will need to clearly define what a token represents from a legal and regulatory perspective before the market can scale. What is real-world asset (RWA) tokenization? RWA tokenization broadly refers to bringing an asset or its economic value onto a blockchain-based digital infrastructure through tokens. During the discussion, Ramana Kumar A, President of ADI Foundation of Abu Dhabi, said tokenization should not be viewed only through the lens of corporate bonds. "I think the concept is very clear. People have run behind equity. Debt is now the biggest factor," Kumar said, arguing that investors should look beyond conventional bonds at other assets capable of generating cash flows. According to Kumar, these could include trade receivables, private credit, treasury-related cash flows and other forms of economic interests linked to real-world assets. "We should not just focus on bonds. Focus on trade receivables. Focus on cash flow arbitrage. Focus on treasury tokens," he said. Kumar said the broader opportunity could create new liquidity and investment avenues for investors who currently have relatively limited choices between bank deposits, savings products and more complex wealth-management offerings. Also read: Bond Tokenization Summit 2026: Market leaders map out the future of digital debt in Mumbai How could tokenization change the bond market? Zubin Goyal, CEO and Director of Exchange One, said bond tokenization could be particularly significant for India because many bonds currently have limited liquidity and price discovery. Goyal, who previously worked as a bond trader, said the market for government securities and corporate bonds has significant potential for wider participation. "If you're able to tokenize these assets, open up the access to this market, to not just institutional investors, but high net worth investors, retail investors, foreign investors, and just make the sort of guardrails a little bit more relaxed," he said, clarifying that he was referring to participation rather than relaxing compliance requirements. According to Goyal, greater participation could improve price discovery and liquidity in bonds. He said tokenization could also expand the utility of a bond after it has been purchased. A tokenized bond, for example, could potentially be used as collateral to borrow funds. "If that bond is sitting in my ledger, I can take that anywhere," Goyal said. He gave an example of an investor using a Rs 10 lakh bond as collateral to borrow against it. Because the asset is tokenized, borrowing periods could potentially become more flexible, allowing for shorter-duration funding rather than requiring conventional three-month, six-month or one-year borrowing periods, he said. "The settlement cycle, everything gets accelerated," Goyal added. Could tokenization improve access to credit for SMEs? Prashant Nikam, co-founder and Chairman of Sapio Analytics, said bond tokenization could potentially help deepen and widen India's financial markets, particularly by improving access for smaller businesses. According to Nikam, government and highly rated blue-chip issuers generally do not face major difficulties in accessing the bond market through existing systems. "It is the SME who hasn't been able to really access the bond market," he said. Nikam said tokenization and fractionalisation could potentially help bring a wider pool of investors into SME financing. "If we can use this new methodology, this new technology, to give them better access to the market, to raise finance, and to get more wider participation through getting that bond fractionalized, I think that will be the real great value we can unleash in a bond tokenization market," he said. However, he acknowledged that attracting investors to SME-linked credit would remain challenging because of credit-risk concerns. "If we can fractionalize the bonds, then we might be able to attract a new set of investors who may be willing to take the chances on this new asset class," Nikam said, while adding that the process would not necessarily be easy. He said the benefits could outweigh the cost of building the required blockchain infrastructure if the system succeeds in bringing SMEs and new investors into the market. Beyond bonds: Trade receivables and private credit Kumar said some of the biggest opportunities in RWA tokenization may lie outside traditional corporate bonds. He cited examples from overseas markets involving trade receivables, private credit and other cash-flow-linked assets. For example, Kumar described a model in which receivables from fintech companies were pooled through a special purpose vehicle, or SPV, to create what he called a "treasury token". He said such structures could create investment products linked to short-duration receivables rather than requiring investors to rely solely on conventional corporate bonds. Kumar also pointed to private credit and trade-related financing as areas that could potentially be replicated in India. "These are the assets that should go into tokenization," he said while discussing suppliers that wait 90 to 120 days to receive payments. The opportunity, according to Kumar, lies in bringing economic interests and cash flows associated with such assets onto digital infrastructure. Fractional investing and faster movement of capital One of the major potential benefits of tokenization is fractionalisation, which could allow investors to participate in assets in smaller units. Goyal compared the potential impact of tokenization with the way digital infrastructure increased the speed and convenience of payments in India. "Nothing in the existing infra has been replaced, but you've been able to add a level of speed, a level of velocity to sort of daily life," he said, referring to the evolution of India's digital financial infrastructure. According to Goyal, tokenization could similarly add "velocity, discoverability, fractionalization" to financial markets and real-world assets. The underlying idea, he said, is that faster circulation and movement of capital could potentially improve liquidity across the financial system. Token ownership versus economic value: The key legal question Despite the potential benefits, experts said one of the most important questions for India is determining exactly what ownership of a token represents. Kumar said the industry cannot treat all forms of tokenization in the same way. "We should understand, while we are talking tokenization very easily, let's understand what is a token," he said. "Are we talking about a legal ownership? Are we talking about a financial instrument? Are we talking about a token being an economic value? It's important what it is, so we know what regulation is needed." According to Kumar, direct tokenization of legal ownership of physical assets could create complex legal and jurisdictional questions. He gave the example of a coffee-related asset, where questions could arise over responsibility if there were disputes over the quality of the underlying product. Kumar said his experience had led to a different approach: instead of directly tokenizing legal ownership of an underlying asset, structures could potentially place assets into an SPV and create a tokenized fund or instrument linked to their economic value. "You're not buying the legal ownership of the tokens. You're buying the economic value of the tokens and that's how you create liquidity," he said. Can India use its existing financial infrastructure? Goyal argued that tokenization does not necessarily require India to replace its existing financial system. "I don't think you need fresh regulation, you don't need fresh institutions, you don't need fresh platforms to come out," he said, adding that regulators, exchanges, market infrastructure providers and other existing participants could potentially continue to operate while tokenization adds another layer to the system. However, Kumar took a more nuanced view, saying that existing frameworks may not be sufficient where tokens represent direct legal ownership of assets. "If you talk about asset ownership, you cannot have existing systems work. It will not work," he said. "You need to have new regulation that defines what is a token legal ownership means." The discussion highlighted that the regulatory approach may depend on the nature of the underlying asset and what rights the token holder receives. Zubin Goyal also pointed out that fungible assets such as bonds may be easier to structure than unique or bespoke physical assets. A unit of a particular government security or bond can be interchangeable, whereas different lots of physical commodities such as coffee may have different characteristics and associated risks, he said. Why bonds could be India's starting point Nikam said beginning with bond tokenization could be a practical way for India to build investor awareness and experience before expanding tokenization into more complex real-world assets such as infrastructure. "I think the government is doing the right thing. They have started off with a bond tokenization," he said. "To tokenize real world asset, infrastructure asset, is gonna be a little more complicated. So before we can go there, I think the bond tokenization will probably set the stage, will create investor awareness." He said tokenization could later potentially be extended to infrastructure financing and municipal bonds. Infrastructure projects require capital at different stages, including planning and design, construction, and operations and maintenance, Nikam said. Different financing structures could potentially be designed for different stages to access capital more efficiently. The road ahead for India The experts agreed that RWA tokenization could create new investment and financing possibilities, but its success would depend on balancing innovation with governance. Nikam said India should not lose sight of governance while pursuing efficiency. "We have embarked on a new journey," he said. “Governance and efficiency will have to be finally balanced. So I think we must not lose sight of governance, just to push efficiency agenda.” Kumar, meanwhile, said India should look beyond simply copying global models and develop structures that work within clear legal and financial frameworks. The opportunity, according to the panel, could extend from tokenized bonds to SME financing, private credit, trade receivables and other cash-flow-generating assets. For investors, tokenization could eventually mean access to a wider range of assets in smaller units. For borrowers and businesses, it could potentially open new channels for raising capital. And for financial markets, supporters believe it could improve liquidity, price discovery and the speed at which capital moves through the system. But before that opportunity can fully take shape, India will have to answer a fundamental question: when an investor buys a token, what exactly do they own—the underlying asset, a financial instrument or simply its economic value? The answer could determine how India's real-world asset tokenization market develops.

Discover how discussions at the Bond Tokenization Summit 2026 are paving the way for digital debt, real-world asset tokenization, and fresh investment avenues across India's financial landscape.

Bond Tokenization Summit 2026: How India's bond market is transforming for retail investors

The air inside Mumbai's grand Sahara Star ballroom was thick with quiet, electric energy on Wednesday (Sep 9). On stage, the high-definition LED backdrop glowed with a single, compelling title:&nbsp;BOND TOKENIZATION SUMMIT 2026. In the world of global finance, bonds have long been the bedrock of stability. Yet, traditionally, they have remained locked behind institutional doors—burdened by mountains of paperwork, high minimum investment thresholds, and slow settlement layers. Co-hosted by&nbsp;WION&nbsp;and&nbsp;Zee Business, the landmark summit brought together a rare assembly of exchange leaders, Web3 pioneers, and policy architects under one roof to address a fundamental question:&nbsp;What happens when you rewrite the DNA of capital markets with code?<h2>The Prime Minister's Spark</h2>The momentum in the room was fueled by an unmistakable policy tailwind. Just two days earlier in Mumbai, Prime Minister Narendra Modi had set the stage at the Global Fintech Fest. In his address, PM Modi highlighted&nbsp;tokenisation—alongside Agentic AI and quantum computing—as one of the three cornerstone technologies destined to drive the next global financial revolution. Emphasising the need to move real-world asset digitisation from experimental sandboxes into full-scale market execution, the Prime Minister’s remarks provided a clear vision for the evening’s discussions.&nbsp;At its foundation, bond tokenisation converts traditional debt instruments into programmable digital assets hosted on secure blockchain networks. By automating interest (coupon) payouts via smart contracts, reducing settlement timelines from days to instant atomic execution, and fractionalising large issues into smaller ticket sizes, tokenisation opens high-yield debt markets to a vastly wider pool of investors.<h2>Setting the vision</h2>Summit host WION's&nbsp;Disha Yadav&nbsp;brought the central theme into sharp focus. "Bond tokenisation may sound technical," she told the gathered audience, “but at its core, it is about using technology to make debt markets more digital, efficient, and accessible.” The tone for the evening was established by key figures in Indian financial sector.&nbsp;Anil Singhvi, Managing Editor of Zee Business, delivered the opening welcome, highlighting the structural shifts already sweeping across global fixed-income markets. Raktim Das, CEO of ZEE Media Corporation Limited, joined Singhvi and&nbsp;NN Kumar&nbsp;(Advisor, E-Sutra) on stage to felicitate the Chief Guest of the evening:&nbsp;Sundararaman Ramamurthy, MD &amp; CEO of BSE Ltd.Taking the podium, Ramamurthy delivered an authoritative keynote address on how traditional stock exchanges must actively lead asset digitisation while preserving the regulatory trust and investor protections that anchor robust capital markets.<h3>From code to capital: Key highlights of Bond Tokanization Summit</h3>&nbsp;The narrative of the evening unfolded through a series of focused, high-impact conversations:&nbsp;<ul><li>Code to Capital:&nbsp;In the opening panel,&nbsp;Tajinder Virk&nbsp;(Co-Founder &amp; CEO, Blockmaze),&nbsp;Kanhaiya Singh(Co-Founder, E-Sutra), and&nbsp;Mohan Lal Kumawat&nbsp;(Executive Director, REC), moderated by WION's Kanishka Sarkar, debated how programmable digital debt unlocks liquidity and lowers issuance costs.</li><li>Sandbox to Scale:&nbsp;Addressing the regulatory landscape, compliance experts&nbsp;C.A. Sonu Jain&nbsp;(Tickr),&nbsp;Edul Patel&nbsp;(Mudrex &amp; Saber Money), and&nbsp;Sudeep Chatterjee&nbsp;(Stoex) explored how risk management protocols and legal safeguards can be coded directly into smart contracts.</li><li>Strategic Roadmap:&nbsp;Media personality&nbsp;Bhupendra Chaubey&nbsp;detailed strategic market initiatives, complemented by presentation insights from Blockmaze and E-Sutra leadership.</li><li>The Troika of Trust:&nbsp;Moderated by&nbsp;Nikhil Aggarwal&nbsp;(Founder, Grip Invest), industry leaders&nbsp;Ashish Singhal&nbsp;(CoinSwitch/Lemonn),&nbsp;Rudresh Kunde&nbsp;(BSE), and&nbsp;DC Patwari&nbsp;(Former Chairman, MSE) examined how code, network connectivity, and institutional capital must converge to build long-term market confidence.</li><li>Civic Infrastructure in Action:&nbsp;A fireside chat with&nbsp;Devidas Kshirsagar, Joint Municipal Commissioner (Finance) at the BMC, offered a practical look at how municipal debt tokenization could transform urban development by funding local infrastructure projects.</li><li>Think Global, Tokenize Local? Led by moderator&nbsp;Avinash Rao&nbsp;(ALT DRX), international perspectives were shared by&nbsp;Ramana Kumar&nbsp;(ADI Foundation, Abu Dhabi),&nbsp;Jubin Goyal&nbsp;(eXchange1), and&nbsp;Prashant Nikam&nbsp;(Sapio Analytics) on building cross-border digital asset standards.</li></ul><h2>A new chapter for digital assets</h2>Presented by&nbsp;E-SUTRA&nbsp;and&nbsp;Blockmaze, co-powered by&nbsp;Grip Invest&nbsp;and&nbsp;STOEX, and supported by associate partner&nbsp;Alt DRX, the&nbsp;Bond Tokenization Summit 2026&nbsp;demonstrated that digital debt has moved out of theoretical whitepapers and into the core architectural design of modern finance.As co-hosts&nbsp;WION&nbsp;and&nbsp;Zee Business&nbsp;brought the evening to a close, the consensus across the ballroom was clear: with strong regulatory alignment and institutional technology, tokenised bonds are set to define the next era of global capital markets.

At the Bond Tokenization Summit in Mumbai, industry leaders and market experts mapped out the future of digital debt and blockchain-powered finance.

The air inside Mumbai's grand Sahara Star ballroom was thick with quiet, electric energy on Wednesday (Sep 9). On stage, the high-definition LED backdrop glowed with a single, compelling title: BOND TOKENIZATION SUMMIT 2026. In the world of global finance, bonds have long been the bedrock of stability. Yet, traditionally, they have remained locked behind institutional doors—burdened by mountains of paperwork, high minimum investment thresholds, and slow settlement layers. Co-hosted by WION and Zee Business, the landmark summit brought together a rare assembly of exchange leaders, Web3 pioneers, and policy architects under one roof to address a fundamental question: What happens when you rewrite the DNA of capital markets with code? The Prime Minister's Spark The momentum in the room was fueled by an unmistakable policy tailwind. Just two days earlier in Mumbai, Prime Minister Narendra Modi had set the stage at the Global Fintech Fest. In his address, PM Modi highlighted tokenisation—alongside Agentic AI and quantum computing—as one of the three cornerstone technologies destined to drive the next global financial revolution. Emphasising the need to move real-world asset digitisation from experimental sandboxes into full-scale market execution, the Prime Minister’s remarks provided a clear vision for the evening’s discussions. At its foundation, bond tokenisation converts traditional debt instruments into programmable digital assets hosted on secure blockchain networks. By automating interest (coupon) payouts via smart contracts, reducing settlement timelines from days to instant atomic execution, and fractionalising large issues into smaller ticket sizes, tokenisation opens high-yield debt markets to a vastly wider pool of investors. Setting the vision Summit host WION's Disha Yadav brought the central theme into sharp focus. "Bond tokenisation may sound technical," she told the gathered audience, “but at its core, it is about using technology to make debt markets more digital, efficient, and accessible.” The tone for the evening was established by key figures in Indian financial sector. Anil Singhvi, Managing Editor of Zee Business, delivered the opening welcome, highlighting the structural shifts already sweeping across global fixed-income markets. Raktim Das, CEO of ZEE Media Corporation Limited, joined Singhvi and NN Kumar (Advisor, E-Sutra) on stage to felicitate the Chief Guest of the evening: Sundararaman Ramamurthy, MD & CEO of BSE Ltd. Taking the podium, Ramamurthy delivered an authoritative keynote address on how traditional stock exchanges must actively lead asset digitisation while preserving the regulatory trust and investor protections that anchor robust capital markets. From code to capital: Key highlights of Bond Tokanization Summit The narrative of the evening unfolded through a series of focused, high-impact conversations: Code to Capital: In the opening panel, Tajinder Virk (Co-Founder & CEO, Blockmaze), Kanhaiya Singh(Co-Founder, E-Sutra), and Mohan Lal Kumawat (Executive Director, REC), moderated by WION's Kanishka Sarkar, debated how programmable digital debt unlocks liquidity and lowers issuance costs. Sandbox to Scale: Addressing the regulatory landscape, compliance experts C.A. Sonu Jain (Tickr), Edul Patel (Mudrex & Saber Money), and Sudeep Chatterjee (Stoex) explored how risk management protocols and legal safeguards can be coded directly into smart contracts. Strategic Roadmap: Media personality Bhupendra Chaubey detailed strategic market initiatives, complemented by presentation insights from Blockmaze and E-Sutra leadership. The Troika of Trust: Moderated by Nikhil Aggarwal (Founder, Grip Invest), industry leaders Ashish Singhal (CoinSwitch/Lemonn), Rudresh Kunde (BSE), and DC Patwari (Former Chairman, MSE) examined how code, network connectivity, and institutional capital must converge to build long-term market confidence. Civic Infrastructure in Action: A fireside chat with Devidas Kshirsagar, Joint Municipal Commissioner (Finance) at the BMC, offered a practical look at how municipal debt tokenization could transform urban development by funding local infrastructure projects. Think Global, Tokenize Local? Led by moderator Avinash Rao (ALT DRX), international perspectives were shared by Ramana Kumar (ADI Foundation, Abu Dhabi), Jubin Goyal (eXchange1), and Prashant Nikam (Sapio Analytics) on building cross-border digital asset standards. A new chapter for digital assets Presented by E-SUTRA and Blockmaze, co-powered by Grip Invest and STOEX, and supported by associate partner Alt DRX, the Bond Tokenization Summit 2026 demonstrated that digital debt has moved out of theoretical whitepapers and into the core architectural design of modern finance. As co-hosts WION and Zee Business brought the evening to a close, the consensus across the ballroom was clear: with strong regulatory alignment and institutional technology, tokenised bonds are set to define the next era of global capital markets.

At the Bond Tokenization Summit in Mumbai, industry leaders and market experts mapped out the future of digital debt and blockchain-powered finance.

Bond Tokenization Summit 2026: Market leaders map out the future of digital debt in Mumbai

Oil is approaching the psychologically important $100-a-barrel price. Americans are already paying record-high prices for the Labor Day period. This could become a political problem for Trump and the Republican Party as the November midterm elections loom. At the time of writing, Brent futures briefly hit $100 a barrel. The US West Texas Intermediate was around $94.13 on Wednesday (Sep 9). Brent has risen about 25 per cent since early August as renewed fighting with Iran crushed hopes of an end to the six-month conflict. Reports suggested that oil could hit $100 as early as Friday. Here is why it matters for Trump's midterm prospects.&nbsp;<h2>The Iran war is showing up at the pump for Americans</h2>Trump returned to office promising an energy boom, lower prices and inflation relief. The US military adventure in Iran upended these plans, emerging as a major source of uncertainty for the global oil market. Much of the Gulf's critical energy infrastructure is under attack or threat, caused by US strikes, Iranian attacks on Gulf energy infrastructure, and Houthi hits on Saudi targets. Oil shipping is disrupted from the Strait of Hormuz to the Red Sea and further afield. &nbsp;Iran conflict is leading to supply fears, causing higher crude prices and renewing inflation pressure on the US.Also read: <a href="https://www.wionews.com/world/brent-crude-hits-100-per-barrel-after-seven-weeks-as-tension-in-middle-east-escalates-1788940129398">Brent Crude hits $100 per barrel after seven weeks as tension in Middle East escalates</a><h2>$4 gasoline is already a political problem</h2>The national average price of regular gasoline was about $4.15 a gallon around Labor Day, according to the American Automobile Association (AAA), a record for this holiday period. AAA said the national average never exceeded $4 on Labor Day. For diesel prices, the national average climbed to a record of roughly $5.85-$5.90 a gallon. Diesel also powers much of America's freight, agriculture, construction and rail economy. And that could contribute to the inflation problem, as higher diesel and petrol prices hurt household budgets.&nbsp;<a href="https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed">https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed</a><h2>Oil prices spike: The timing could hardly be worse for Republicans</h2>Republicans are entering the midterms with narrow margins, even as a Reuters/Ipsos poll put Trump approval ratings at just 33 per cent, with only 25 per cent of Americans saying the Iran war is worthwhile. A Financial Times/Focaldata survey found that 57 per cent of voters felt financially worse off under Trump. That is precisely why petrol prices are so dangerous politically.Republicans have spent years telling voters that Democratic policies were responsible for expensive petrol, but that won't wash this election season.Democratic candidates have been using gas prices as a political weapon against Republican incumbents, linking Trump's Iran policy to higher cost of living for Americans.Also read: <a href="https://www.wionews.com/world/oil-prices-jump-over-3-brent-tops-86-after-us-says-it-intercepted-iranian-missile-attack-1785285962484">Oil prices jump over 3% after US says it intercepted Iranian missile attack</a><h2>How oil prices historically affected the prospects of the ruling party</h2>A 2026 Morgan Stanley analysis found that since 1978, midterm cycles in which gasoline prices rose from January of the previous year through October of the election year were associated with an average loss of 32 House seats for the incumbent party, as opposed to lower prices, in which case the average loss was six seats. A TIME analysis said that in the three midterms in which inflation-adjusted oil prices were around or above $100 a barrel, the ruling party lost an average of 29 House seats. An energy shock just ahead of midterms is a scary prospect for the incumbent party.<h2>A looming inflation: Why Trump needs to bring down gas prices</h2>If gasoline prices fall dramatically in October, Trump - who put himself at the centre of the Republican campaign - can point to the decline as evidence that his administration's strategies worked. But if they still hover around $4 or higher, Democrats will be able to tell voters that Trump's war made energy more expensive.But will the market correct itself? Brent repeatedly approached $100 in past months without decisively breaking through it. So far, whatever oil is passing via Hormuz, alternative export routes, rising production outside OPEC and weaker Chinese demand have prevented a larger price shock.But if prolonged disruptions to oil shipments cause Brent to remain around $100, the pinch at the pump could persist. And that could translate into anger against Trump and the Republicans at the elections.

US oil prices are near $100 once again as the Iran conflict disrupts energy supplies. The pinch at the pump and looming inflation could become a political headache for Trump and Republicans ahead of the midterms. Here is how

Oil is approaching the psychologically important $100-a-barrel price. Americans are already paying record-high prices for the Labor Day period. This could become a political problem for Trump and the Republican Party as the November midterm elections loom. At the time of writing, Brent futures briefly hit $100 a barrel. The US West Texas Intermediate was around $94.13 on Wednesday (Sep 9). Brent has risen about 25 per cent since early August as renewed fighting with Iran crushed hopes of an end to the six-month conflict. Reports suggested that oil could hit $100 as early as Friday. Here is why it matters for Trump's midterm prospects. The Iran war is showing up at the pump for Americans Trump returned to office promising an energy boom, lower prices and inflation relief. The US military adventure in Iran upended these plans, emerging as a major source of uncertainty for the global oil market. Much of the Gulf's critical energy infrastructure is under attack or threat, caused by US strikes, Iranian attacks on Gulf energy infrastructure, and Houthi hits on Saudi targets. Oil shipping is disrupted from the Strait of Hormuz to the Red Sea and further afield. Iran conflict is leading to supply fears, causing higher crude prices and renewing inflation pressure on the US. Also read: Brent Crude hits $100 per barrel after seven weeks as tension in Middle East escalates $4 gasoline is already a political problem The national average price of regular gasoline was about $4.15 a gallon around Labor Day, according to the American Automobile Association (AAA), a record for this holiday period. AAA said the national average never exceeded $4 on Labor Day. For diesel prices, the national average climbed to a record of roughly $5.85-$5.90 a gallon. Diesel also powers much of America's freight, agriculture, construction and rail economy. And that could contribute to the inflation problem, as higher diesel and petrol prices hurt household budgets. https://www.wionews.com/videos/goldman-warns-brent-could-top-120-again-wion-news-world-business-watch-1784783515303/embed Oil prices spike: The timing could hardly be worse for Republicans Republicans are entering the midterms with narrow margins, even as a Reuters/Ipsos poll put Trump approval ratings at just 33 per cent, with only 25 per cent of Americans saying the Iran war is worthwhile. A Financial Times/Focaldata survey found that 57 per cent of voters felt financially worse off under Trump. That is precisely why petrol prices are so dangerous politically. Republicans have spent years telling voters that Democratic policies were responsible for expensive petrol, but that won't wash this election season. Democratic candidates have been using gas prices as a political weapon against Republican incumbents, linking Trump's Iran policy to higher cost of living for Americans. Also read: Oil prices jump over 3% after US says it intercepted Iranian missile attack How oil prices historically affected the prospects of the ruling party A 2026 Morgan Stanley analysis found that since 1978, midterm cycles in which gasoline prices rose from January of the previous year through October of the election year were associated with an average loss of 32 House seats for the incumbent party, as opposed to lower prices, in which case the average loss was six seats. A TIME analysis said that in the three midterms in which inflation-adjusted oil prices were around or above $100 a barrel, the ruling party lost an average of 29 House seats. An energy shock just ahead of midterms is a scary prospect for the incumbent party. A looming inflation: Why Trump needs to bring down gas prices If gasoline prices fall dramatically in October, Trump - who put himself at the centre of the Republican campaign - can point to the decline as evidence that his administration's strategies worked. But if they still hover around $4 or higher, Democrats will be able to tell voters that Trump's war made energy more expensive. But will the market correct itself? Brent repeatedly approached $100 in past months without decisively breaking through it. So far, whatever oil is passing via Hormuz, alternative export routes, rising production outside OPEC and weaker Chinese demand have prevented a larger price shock. But if prolonged disruptions to oil shipments cause Brent to remain around $100, the pinch at the pump could persist. And that could translate into anger against Trump and the Republicans at the elections.

US oil prices are near $100 once again as the Iran conflict disrupts energy supplies. The pinch at the pump and looming inflation could become a political headache for Trump and Republicans ahead of the midterms. Here is how

US oil prices at $100 could be bad news for Trump ahead of midterm elections

Robots building robots is no longer just a science-fiction idea. Chinese electric vehicle maker XPeng says it has commissioned an automated production line where humanoid robots can help manufacture other humanoid robots.&nbsp;XPeng CEO He Xiaopeng announced the development on X, calling it the world’s first automated production line for advanced general-purpose humanoid robots. The company says the system is designed to reduce manual involvement and help take humanoid production towards larger-scale manufacturing. The first robot produced on the line has also been given a name: IRON.&nbsp;

<blockquote class="twitter-tweet">Today, we launched the world’s first automated production line for advanced general‑purpose humanoid robots, using robots to mass‑produce robots, autonomously. This was uncharted territory, and we solved it from scratch. The commissioning of our production line means humanoid… <a href="https://t.co/qlpeSLJx77">pic.twitter.com/qlpeSLJx77</a>&mdash; Xiaopeng He (@xiaopenghexpeng) <a href="https://x.com/xiaopenghexpeng/status/2097135503015616798?ref_src=twsrc%5Etfw">September 8, 2026</a></blockquote> <script async src="https://platform.x.com/widgets.js" charset="utf-8"></script>

<h2>XPeng’s IRON robot walks off the line</h2>According to He, IRON completed its assembly and then walked away from the production line on its own. The moment is significant because XPeng is not simply showing a robot performing one task inside a factory. The company says its manufacturing system can produce a complete advanced general-purpose humanoid.&nbsp;He shared images of the facility and IRON, saying the production line had been developed from scratch. However, XPeng has not disclosed how many robots the factory can currently produce, or provided detailed information about its production capacity.<h2>Why robots building robots matters</h2>The bigger challenge for the humanoid robotics industry may not simply be making robots walk, talk or perform tasks.&nbsp;It is making them cheaply and quickly enough to produce in large numbers.Humanoid robots contain complex mechanical, electrical and computing systems. If companies can automate more of the manufacturing process, production could eventually become faster and more consistent while reducing the need for manual assembly. That could be crucial if humanoids are ever expected to move beyond expensive prototypes and enter factories, warehouses, homes and other workplaces at scale.&nbsp;<h2>XPeng wants IRON to do more than factory work</h2>He said he hopes future versions of IRON will develop stronger general-purpose abilities.&nbsp;The longer-term goal is for humanoids to handle dangerous, repetitive or undesirable jobs that people may not want to perform. He also suggested a much more ambitious future, saying robots could one day become companions, friends or even part of a family.&nbsp;For now, that remains a vision rather than a demonstrated capability.&nbsp;XPeng has yet to reveal IRON’s full capabilities, commercial availability or the actual scale of the new production line. But the development highlights a major shift in the robotics race: companies are no longer only trying to build smarter humanoids. They are also trying to build the factories that can build them.&nbsp;

Chinese EV maker XPeng says it has launched an automated production line where humanoid robots help build other humanoid robots. Its first IRON robot reportedly completed assembly and walked off the line autonomously, though production capacity remains undisclosed.

Robots building robots is no longer just a science-fiction idea. Chinese electric vehicle maker XPeng says it has commissioned an automated production line where humanoid robots can help manufacture other humanoid robots. XPeng CEO He Xiaopeng announced the development on X, calling it the world’s first automated production line for advanced general-purpose humanoid robots. The company says the system is designed to reduce manual involvement and help take humanoid production towards larger-scale manufacturing. The first robot produced on the line has also been given a name: IRON.

Chinese EV maker XPeng says it has launched an automated production line where humanoid robots help build other humanoid robots. Its first IRON robot reportedly completed assembly and walked off the line autonomously, though production capacity remains undisclosed.

Future of manufacturing is here: Chinese EV maker sets up factory where robots are building robots

Over the last decade, five countries have been quietly building over $40 billion alternative to the World Bank and the IMF-dominated global financial system: the New Development Bank or the BRICS Bank. The amount is modest when compared to the Bretton Woods Twins, but it's a project aimed at dismantling 80 years of financial control, creating a parallel system without replacing it.&nbsp;There is huge asymmetry in place; by the end of 2025, the National Development Bank has approved roughly $42.9 billion. The World Bank approves roughly $100 billion in every fiscal year. The New Development Bank has an authorised capital base of $100 billion. The World Bank has an authorised capital base of roughly $327 billion, while the IMF has a $646 billion quota base. Combined, the Bretton Woods System has roughly $1 trillion in capital base.But there are positive signs too; the New Development Bank has been around for just over a decade, and the Bretton Woods System has been there since the aftermath of the Second World War. It has grown from five founding members to eleven members. It has sanctioned development projects such as in India, the Delhi-Ghaziabad-Meerut original rapid transit system; in China, an offshore wind power plant which generated over 1 billion kWh of carbon-free electricity in the first year; in Brazil, Pernambuco state expanded water supply and sanitation services, which benefits roughly $2 million people; and in South Africa, they are modernising the Durban port, a gateway to the African continent. It is more democratised, where every nation has an equal vote, despite China being a bigger economy and Brazil being comparatively smaller. Unlike the World Bank and IMF, where the US holds veto power with over 16 per cent of total voting rights. It does not seek harsh austerity measures, nor does it require structural and political change in exchange for loans to nations.&nbsp;Also Read: <a href="https://www.wionews.com/world/zohran-mamdani-170000-9-11-records-toxic-air-1788882722776">Zohran Mamdani releases 170,000 pages of 9/11 records, says officials misled New Yorkers over toxic air</a><h2>Can it help the Global South out of Western hegemony?</h2>Structurally, the New Development Bank is an extension of the same capitalist financial architecture that fuels the Bretton Woods System. It's not a radical break from the Western Hegemony; it is an extension of it. It is merely a scaled-up and pooled version of domestic development banks, copying the exact financial blueprint of the World Bank.But the real problem is that it is still dependent on dollar-based assets; it seeks finance from Wall Street and international capital markets for the majority of its bond issuances. Its credit rating is associated with Western credit agencies like Flich and S&amp;P. This is one of the reasons the bank had to freeze one of its founding members, Russia, following the Western sanctions in 2022 to maintain its credit rating of AA+.&nbsp;Under the leadership of President Dilma Rousseff, the NDB has grown its local currency lending portfolio to approximately 25 per cent and plans to achieve the 30 per cent mark by 2026. It actively issues bonds and uses local-currency financing such as the Chinese Yuan, Indian Rupee, and South African Rand to protect from US monetary policy shocks and exchange rate volatility. The position is somewhere between hegemony and autonomy. &nbsp;It is not breaking free but trying to build a more inclusive pipeline inside the existing global financial grid.&nbsp;&nbsp;

The New Development Bank, or BRICS Bank, has emerged as an alternative development finance institution, expanding local-currency lending while seeking to reduce dependence on the Western-dominated financial system.

Over the last decade, five countries have been quietly building over $40 billion alternative to the World Bank and the IMF-dominated global financial system: the New Development Bank or the BRICS Bank. The amount is modest when compared to the Bretton Woods Twins, but it's a project aimed at dismantling 80 years of financial control, creating a parallel system without replacing it. There is huge asymmetry in place; by the end of 2025, the National Development Bank has approved roughly $42.9 billion. The World Bank approves roughly $100 billion in every fiscal year. The New Development Bank has an authorised capital base of $100 billion. The World Bank has an authorised capital base of roughly $327 billion, while the IMF has a $646 billion quota base. Combined, the Bretton Woods System has roughly $1 trillion in capital base. But there are positive signs too; the New Development Bank has been around for just over a decade, and the Bretton Woods System has been there since the aftermath of the Second World War. It has grown from five founding members to eleven members. It has sanctioned development projects such as in India, the Delhi-Ghaziabad-Meerut original rapid transit system; in China, an offshore wind power plant which generated over 1 billion kWh of carbon-free electricity in the first year; in Brazil, Pernambuco state expanded water supply and sanitation services, which benefits roughly $2 million people; and in South Africa, they are modernising the Durban port, a gateway to the African continent. It is more democratised, where every nation has an equal vote, despite China being a bigger economy and Brazil being comparatively smaller. Unlike the World Bank and IMF, where the US holds veto power with over 16 per cent of total voting rights. It does not seek harsh austerity measures, nor does it require structural and political change in exchange for loans to nations. Also Read: Zohran Mamdani releases 170,000 pages of 9/11 records, says officials misled New Yorkers over toxic air Can it help the Global South out of Western hegemony? Structurally, the New Development Bank is an extension of the same capitalist financial architecture that fuels the Bretton Woods System. It's not a radical break from the Western Hegemony; it is an extension of it. It is merely a scaled-up and pooled version of domestic development banks, copying the exact financial blueprint of the World Bank. But the real problem is that it is still dependent on dollar-based assets; it seeks finance from Wall Street and international capital markets for the majority of its bond issuances. Its credit rating is associated with Western credit agencies like Flich and S&P. This is one of the reasons the bank had to freeze one of its founding members, Russia, following the Western sanctions in 2022 to maintain its credit rating of AA+. Under the leadership of President Dilma Rousseff, the NDB has grown its local currency lending portfolio to approximately 25 per cent and plans to achieve the 30 per cent mark by 2026. It actively issues bonds and uses local-currency financing such as the Chinese Yuan, Indian Rupee, and South African Rand to protect from US monetary policy shocks and exchange rate volatility. The position is somewhere between hegemony and autonomy. It is not breaking free but trying to build a more inclusive pipeline inside the existing global financial grid.

The New Development Bank, or BRICS Bank, has emerged as an alternative development finance institution, expanding local-currency lending while seeking to reduce dependence on the Western-dominated financial system.

BRICS Bank: Can the New Development Bank challenge the World Bank and IMF?