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South Korea will prolong its fuel tax reductions through late November 2026, continuing the 15 percent discount on gasoline and the 25 percent cut on diesel and butane in order to shield the national economy from shocks in the global oil markets. During a ministerial session held in Sejong, Finance Minister Koo Yun-cheol confirmed that this two-month extension would be implemented, emphasizing the government’s priority to stabilize consumer energy prices and costs associated with freight logistics.

India issued a warning to Washington, cautioning that the proposed tariffs on nations importing Russian crude oil could jeopardize the strength of bilateral ties and cause disruptions in the global commodity trade. This warning was made in the wake of the passage of the Sanctioning Russia and Iran Act of 2026 by the United States House of Representatives, which grants the administration the authority to impose tariffs of up to 100 percent on key buyers of Russian energy. India has committed to safeguarding its energy security for its citizens while maintaining the flexibility to purchase oil from international sources according to prevailing market conditions.

Gold prices persisted in their downward trajectory across worldwide commodity exchanges as investors digested the U.S. Federal Reserve decision to increase benchmark interest rates by a quarter of a percentage point. Spot bullion declined 1 percent during international trading hours to reach $4,249 per ounce, reflecting increased market pressure stemming from tighter monetary policy conditions. Gold prices decline on Federal Reserve rate decision actions as elevated borrowing costs increase the opportunity cost of holding non-yielding precious metals across major financial trading desks.

NEW DELHI / RankWire.AI / – On September 12, in New Delhi, Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan engaged in discussions with Indian Prime Minister Narendra Modi to explore avenues for deepening the bilateral relationship between the United Arab Emirates and India, with the talks taking place at Hyderabad House during the 18th BRICS Summit. These discussions encompassed a broad spectrum of topics including economic collaboration, investment opportunities, trade relations, and the expansive Comprehensive Strategic Partnership binding the two nations. Sheikh Khaled and Narendra Modi review growing UAE-India economic and strategic ties. During the meeting, Sheikh Khaled and Modi reviewed the progress made under the UAE-India Comprehensive Economic Partnership Agreement, known as CEPA, which has established itself as a pivotal framework facilitating the expansion of trade activities between the two economies. The discussions also touched on political relations, cooperation in energy, cultural exchanges, and people-to-people interactions, with both leaders considering how existing bilateral mechanisms can support further commercial and institutional collaboration under agreements already in place between the UAE and India. Representing the UAE, Sheikh Khaled attended the BRICS Summit on behalf of President Sheikh Mohamed bin Zayed Al Nahyan, while Modi welcomed the UAE delegation during India’s chairmanship of the group in 2026. Both sides affirmed their commitment to continued coordination through BRICS on shared interests and highlighted recent high-level exchanges, including Sheikh Mohamed’s visit to India in January 2026 and Modi’s visit to

Oman’s year-on-year inflation rate reached 3.4% in August 2026, with transport costs experiencing an 8.5% rise and food and non-alcoholic beverages increasing by 7%. Regional variations in inflation rates were observed, with Al Dhahirah at 4.8% and Dhofar at 2.1%. Food items saw significant yearly increases, particularly vegetables by 19% and fruits by 16.3%. Meat prices also rose by 9.8%, while non-alcoholic beverages increased by 3.5%.

During his official state visit to Germany, President His Highness Sheikh Mohamed bin Zayed Al Nahyan convened with prominent German business executives and corporate leaders in Berlin. This high-level gathering involved a roundtable discussion where the UAE President was provided with detailed briefings on company operations, industrial activities, and technological breakthroughs in key European manufacturing sectors. As part of ongoing efforts to boost economic cooperation, the UAE and Germany are working to deepen cross-border commercial partnerships, increase joint venture investments, and expand bilateral trade across critical growth markets.

India and Russia are accelerating efforts to expand non-energy trade and reciprocal investments as both nations target $100 billion in annual bilateral commerce by 2030. Speaking at the INNOPROM India 2026 industrial trade fair, officials outlined strategies to narrow India’s pronounced trade deficit by boosting exports of pharmaceuticals, auto components, textiles, and agricultural products to Russian markets. The trade framework, backed by 40 live priority investment projects and reinforced local-currency payment settlement mechanisms, aims to drive industrial integration and cross-border supply chain resilience across Eurasia.

During President Sheikh Mohamed bin Zayed Al Nahyan’s official visit to Germany, the United Arab Emirates revealed plans to invest €40 billion across various sectors including industry, technology, energy, and digital infrastructure. This significant funding package was unveiled alongside the broader set of economic agreements discussed by both nations, with German Chancellor Friedrich Merz participating in the announcement. Notably, €10 billion of this investment is earmarked for projects in Bavaria, positioning the southern German region as a key beneficiary of the overall commitment. UAE investment in Germany targets industry, AI, digital infrastructure and energy. A substantial portion of the UAE’s investment aims to enhance digital infrastructure, with plans to develop advanced data centres in Germany boasting a combined capacity of approximately 1 gigawatt. The joint declaration also addressed advancements in artificial intelligence, industrial growth, and energy initiatives. Germany committed to supporting the necessary conditions for the execution of these data-centre projects. These initiatives serve to strengthen an already growing economic partnership between the UAE and Germany that spans technology, manufacturing, energy, and other commercial industries. Throughout the visit, companies from both countries formalized 29 agreements and memoranda of understanding, with a total combined value surpassing €9.356 billion. An additional outcome was the establishment of the German-UAE Investment Council, designed to link government agencies with private sector firms and foster increased investment activities between the two nations. Both governments also launched a Strategic Dialogue that will explore cooperation areas including trade, technology, investment, energy, transport

During a diplomatic visit to Berlin, the United Arab Emirates and Germany expanded their bilateral partnership through the announcement of numerous agreements. UAE President Sheikh Mohamed bin Zayed Al Nahyan and German Chancellor Friedrich Merz witnessed the signing of 12 government accords and declarations, which encompass sectors such as investment, energy, technology, aviation, security, environmental policy, legal affairs, and cultural exchange. In addition, both nations launched a Strategic Dialogue aimed at coordinating efforts across various government sectors, building upon their longstanding Comprehensive Strategic Partnership established in 2004.

Gold prices hovered around $4,400 per ounce on Thursday, rebounding from an earlier dip seen in the previous session. The spot price increased by 0.3% to $4,414.28 at 0419 GMT, while December US gold futures declined slightly by 0.1% to $4,457.20. During Asian trading hours, the dollar stayed subdued, providing further support for bullion priced in the US currency. Gold’s level on Thursday closely resembled the stronger prices reached late Wednesday, after recovering from the losses recorded earlier that day.