Emirates NBD Bank has successfully acquired a 60 per cent majority stake in RBL Bank through a primary capital infusion of approximately USD 2.75 billion, marking the largest foreign direct investment in India's banking sector.
'India was the emirate's largest international source market by hotel guest volume.'
From four nations to a powerful 11-member bloc, here's how BRICS reshaped the global order in 27 years.
India is hosting the BRICS summit, leveraging the platform to address global trade tensions and champion the developmental priorities of the Global South, including food, energy, and supply chain security. The summit, attended by leaders like President Xi Jinping and Vladimir Putin, will focus on resilience, innovation, cooperation, and sustainability, with India aiming to strengthen intra-BRICS collaboration and discuss global matters. The expanded BRICS grouping represents a significant portion of the world's population and GDP, making its discussions crucial for global economic stability.
The highlight of the successful BRICS Summit was its ability to deliver a joint statement that all members, including Iran and the United Arab Emirates, embroiled in the war in West Asia, signed.
US lawmakers are racing to amend the Russia sanctions bill before recess. One amendment specifically names India, China, and other countries as potential targets for 100% tariffs due to their oil trade with Russia. Another significant amendment proposes to scrap the tariff section entirely, while others address presidential waiver powers and aid to Ukraine.
New photographic evidence and a Pentagon inspector general's report confirm extensive damage to US military installations across the Middle East due to Iranian missile and drone strikes. The report details billions in financial costs, structural losses to hundreds of buildings, and damage to dozens of aircraft, contradicting previous assertions about US military readiness and ordnance stockpiles. The conflict also led to disruptions in the Strait of Hormuz, impacting global oil prices.
The Reserve Bank of India (RBI) has endorsed the introduction of a Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, which levies a 0.4 per cent fee on merchant payments above the threshold, aims to bolster the long-term sustainability and growth of India's digital payments ecosystem. The RBI clarified that person-to-person (P2P) transactions and small person-to-merchant (P2M) payments below Rs 2,000 will remain free for users, ensuring no direct charge on customers.
Arsenal successfully defended their Premier League title challenge by defeating Chelsea 2-1, recovering from an early concession with goals from Kai Havertz and captain Martin Odegaard, maintaining a perfect start to the season.
The Indian government has mandated that banks and payment providers cannot levy charges on UPI transactions up to Rs 2,000 or on payments made via RuPay debit cards. This directive follows an amendment to the Payment and Settlement Systems Act, 2007, aiming to sustain and expand the digital payments ecosystem.
India successfully facilitated a significant diplomatic meeting between Iranian President Masoud Pezeshkian and UAE Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan on the sidelines of the BRICS Summit in New Delhi. This interaction, a diplomatic breakthrough given ongoing West Asia conflicts, occurred as BRICS adopted a declaration urging restraint and protection of civilians in the region, highlighting the bloc's commitment to peace and stability.
A high-level committee, including representatives from banks and payment associations, is set to decide on Merchant Discount Rate (MDR) for UPI transactions exceeding Rs 2,000 to merchants. While person-to-person and person-to-merchant transactions up to Rs 2,000 remain free, the move follows a recent amendment to the Payment and Settlement Systems Act, sparking debate and clarification from the Finance Minister that only certain high-value merchant transactions might incur charges.
The BRICS summit in New Delhi brings together leaders from major emerging economies to address global challenges like trade disputes, geopolitical upheavals, and the economic impact of conflicts in Ukraine and West Asia. India, as chair, aims to position BRICS as an economic growth engine, focusing on the Global South's food, energy, and supply chain security. The summit also highlights the grouping's expansion and its growing influence in global governance.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
Pakistan captain Fatima Sana has been fined 10 per cent of her match fee and received one demerit point for breaching the ICC Code of Conduct during the Women's Asia Cup match against India, after gesturing towards opener Shafali Verma upon her dismissal.
The successful hosting of the 18th BRICS summit in New Delhi has provided a significant boost to the BJP, offering a timely opportunity to strengthen its narrative against the opposition ahead of crucial assembly elections next year. BJP sources highlight the BRICS grouping's strong condemnation of the Pahalgam terror attack and the consensus declaration as major diplomatic victories for the Modi government, countering criticisms of its foreign policy. The party plans to leverage these outcomes during its month-long Seva Sankalp campaign to connect with various sections of society.
Ahead of Xi Jinping's visit, National Security Advisor Ajit Doval and Chinese Foreign Minister Wang Yi held extensive talks in Beijing on August 25 on the boundary issue and reached an eight-point consensus.
BRICS nations have successfully reached a consensus on a joint statement following extensive negotiations, with India playing a crucial role in bridging differences, particularly among West Asian members like Iran, Saudi Arabia, and the UAE, despite regional conflicts and geopolitical tensions.
Cricket Australia has announced that private investment will be introduced into the Big Bash League (BBL) from the 2027-28 season, beginning with the sale of the Melbourne Renegades T20 franchise, a move aimed at strengthening the league's long-term future and boosting finances.
Iranian President Masoud Pezeshkian concluded his visit to India for the 18th BRICS Summit, announcing that Iran and the UAE agreed to move past previous tensions. This diplomatic breakthrough occurred during talks with Abu Dhabi's Crown Prince on the summit sidelines. Pezeshkian also met with PM Modi to discuss bilateral ties and West Asia developments, with Modi emphasising dialogue for regional peace. The BRICS summit adopted the New Delhi Declaration 2026, calling for global governance reforms and de-escalation in West Asia.
Zlatko Dalic, former Croatia manager, has been appointed as the new head coach of the United Arab Emirates national football team. He previously led Croatia to a World Cup final and returns to the UAE where he won a league title with Al Ain.
The question for the next 20 years is not whether India can become a $5 trillion or $10 trillion economy. Those are attractive targets, but the real question is whether India can create enough productive jobs, educate its children properly, make its cities liveable, and give hundreds of millions of people a substantially better life, asserts Ramesh Menon.
India's international football friendly against Panama in Bengaluru has been advanced by a day to September 25 due to the Bengaluru Marathon. The match at Sree Kanteerava Stadium will be a significant test for the Blue Tigers against a 2026 World Cup participant, preceding other high-profile friendlies against Brazil and Uruguay.
India's total goods trade with BRICS nations more than doubled from FY21 to FY26, reaching USD 417.5 billion, but a significant surge in imports, particularly from China and Russia, has caused India's trade deficit with the bloc to more than triple, reaching USD 226.1 billion.
Harshitha Samarawickrama's unbeaten 48 off 37 balls led Sri Lanka to a four-wicket victory over Bangladesh, securing their spot in the women's Asia Cup semi-finals.
Arsenal have officially signed England international Ezri Konsa from Aston Villa on a long-term contract for a reported 55 million, significantly boosting their defensive options ahead of their Premier League title defence.
'The Chinese military cannot advance much in Ladakh, even if they want to.' 'Similarly, in Arunachal Pradesh, they can rename a village or two, intrude here or there, but cannot do much more realistically.'
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
The challenge for India lies in navigating complex landscape to its best advantage. The BRICS Summit will test its navigation skills, asserts former foreign secretary Shyam Saran.
NPCI International and Uzbekistan's NIPC have partnered to enable UPI payments across Uzbekistan, allowing Indian tourists, business travellers, and students to make instant merchant payments using the UZQR code. This agreement, approved by RBI and CBU, integrates UPI with Uzbekistan's national payment system, HUMO, facilitating direct P2M payments from Indian bank accounts and reducing reliance on foreign exchange or international cards.
The BRICS grouping adopted a consensus joint declaration in New Delhi, successfully navigating differences on the West Asia conflict but notably omitting any direct mention of US strikes on Iran or Iranian military attacks on Gulf Arab nations. The declaration also criticised Israel's actions in Gaza and called for a concerted approach against terrorism.
The Reserve Bank of India (RBI) has granted approval for UAE-based Emirates NBD (ENBD) PJSC to acquire up to a 74 per cent stake in RBL Bank for $3 billion, marking the largest foreign investment ever in a domestic Indian bank.
Nandni Sharma surged 38 places after her three-wicket haul against Thailand, while Chamari Athapaththu reached career-best ratings in batting, bowling and all-round performance.
For India, the goal is not simply to host another grand diplomatic gathering. It is to prove that a diverse coalition of emerging powers can still deliver.
Indian mutual fund holdings in overseas equity securities increased by 37.5 per cent year-on-year to approximately '93,602 crore by March-end, according to RBI data. This growth is attributed to mark-to-market gains from a global market rally and heightened investor interest, with the US remaining the primary destination for these investments.
Manchester City secured a narrow 1-0 victory over promoted Coventry City in the Premier League, maintaining their perfect start to the season despite a significant spending spree. Other matches saw Crystal Palace claim their first win against Fulham, while Newcastle United, Tottenham Hotspur, Brighton, Leeds, Brentford, and Sunderland all played out draws. Several teams, including Coventry and Fulham, remain without points after three games.
Unified Payments Interface (UPI) transactions in India reached Rs 29.8 lakh crore in August, approaching record levels. Volume also hit a new high of 24.51 billion transactions, driven by festive activities like Raksha Bandhan. The digital payment system continues its rapid growth, expanding its global presence to 11 countries, with further growth anticipated during the upcoming festive season and new use cases like credit on UPI.
India batter Yashasvi Jaiswal and Sri Lanka bowler Asitha Fernando have been fined 25 per cent of their match fees and received one demerit point each for 'inappropriate physical contact' during the second Test in Colombo.
India's Unified Payments Interface (UPI) recorded an unprecedented 24.51 billion transactions valued at Rs 29.8 lakh crore in August, largely propelled by the Raksha Bandhan festival. This surge marks a 22% annual increase in volume and 20% in value, highlighting the expanding reach and depth of the UPI ecosystem. Experts anticipate further growth during the upcoming festive season, while UPI's international acceptance now spans 11 countries.
The Indian senior men's football team will play an international friendly against Panama at the Sree Kanteerava Stadium in Bengaluru on September 26. This match against a FIFA World Cup-playing nation will be a significant test for the Blue Tigers, marking their return to Bengaluru after their SAFF Championship 2023 victory.
