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South Korea will continue its fuel tax reductions until late November 2026, prolonging a 15 percent discount on gasoline and a 25 percent reduction on diesel and butane in order to shield the national economy from shocks in the global oil markets. During a ministerial session in Sejong, Finance Minister Koo Yun-cheol confirmed this two-month extension, stressing the government’s priority on stabilizing household energy expenses and freight transportation costs. To support logistics operations and small businesses using light utility trucks, the government maintains higher tax discount rates for commercial transport fuels. Under this extended scheme, the legally mandated excise tax on gasoline will stay capped at 698 won per liter, representing a 122 won reduction below standard rates. Diesel taxes will remain at 436 won per liter, with a 145 won discount, while butane excise taxes are fixed at 152 won per liter, offering a 51 won reduction. The goal of extending the South Korea fuel tax cut program is to manage domestic inflation expectations amid ongoing international supply constraints in energy markets. Officials from the Ministry of Finance confirmed that amendments to the Enforcement Decree of the Transportation, Energy, and Environment Tax Act, as well as the Individual Consumption Tax Act, will be presented to the Cabinet for swift administrative approval. They emphasized that, although domestic inventory levels are stable, the persistent geopolitical unrest in the Middle East necessitates active fiscal management to prevent sudden increases in retail fuel prices. Data published by the Ministry of Finance and Economy shows that

India emphasizes its commitment to safeguarding energy security for its citizens while retaining the flexibility to buy oil from international sources based on market conditions. National economic strategies respond to shifting tariff structures and global crude oil supply. The Ministry of External Affairs highlighted that Indian officials have discussed this legislative matter with American counterparts in recent months, highlighting possible repercussions for bilateral economic collaboration and global energy stability. Representatives reaffirmed that access to affordable energy remains crucial for sustaining economic growth and supporting domestic industries. India intends to protect its energy security through diversified crude sourcing and works with national trade and industry bodies to mitigate the economic impacts of the legislation.

As a result of the U.S. Federal Reserve elevating benchmark interest rates by a quarter of a percentage point, gold prices continued their downward trajectory across international commodity exchanges. Spot bullion decreased by 1 percent during global trading hours to reach $4,249 per ounce, reflecting increased market pressure due to 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.

Sheikh Khaled and Narendra Modi review growing UAE-India economic and strategic ties. The UAE-India Comprehensive Economic Partnership Agreement, known as CEPA, was a key point of review by Sheikh Khaled and Modi. This agreement has become the main foundation for growing trade relations between the two economies. Their conversations also encompassed political connections, energy collaboration, cultural exchanges, and mutual people-to-people programs. Both leaders explored how current bilateral mechanisms might be leveraged to promote further commercial and institutional cooperation, building on existing agreements between the UAE and India. Representing the UAE, the Abu Dhabi Crown Prince attended the BRICS Summit as a delegate of President Sheikh Mohamed bin Zayed Al Nahyan. During India’s presidency of BRICS in 2026, Modi expressed his welcome to the UAE delegation. Both parties reaffirmed their commitment to ongoing cooperation within BRICS on shared interests. Notably, they highlighted recent high-level visits, including Sheikh Mohamed’s trip to India in January 2026 and Modi’s visit to the UAE in May. Expansion of economic cooperation through investment initiatives Investment opportunities played a vital role in the discussions, especially those tied to India’s industrial sector. The leaders lauded the International Holding Company’s proposed $11.5 billion integrated greenfield aluminium project in Odisha, which is recognized as India’s largest integrated aluminium investment. The conversation also covered L’Imad, the UAE’s latest sovereign wealth fund, and its potential to facilitate existing bilateral investment channels, connecting Emir

Consumer price data shows transport and food led Oman’s annual inflation in August. Transport costs saw an 8.5% rise from August 2025, representing the largest annual growth among major consumer groups. Food and non-alcoholic beverages followed with a 7% increase. The category of miscellaneous personal goods and services grew by 6.1%, while restaurants and hotels experienced a 3.6% rise. Furniture, household equipment, and routine household maintenance items increased by 3.1%. Education costs went up by 2.2%, and health-related expenses rose 1.7%. Meanwhile, prices for culture and recreation grew more modestly at 0.4%. Some categories saw limited price changes. Clothing and footwear prices edged up by 0.1%, while communications and tobacco costs remained stable compared to the previous year. The housing, water, electricity, gas, and other fuel prices decreased by 0.6%. The August data also revealed notable variations across Oman’s governorates. According to official consumer price figures, inflation ranged from 2.1% in Dhofar to 4.8% in Al Dhahirah. Transport and Food Lead Price Growth in August The highest annual inflation rate among the governorates was recorded in Al Dhahirah at 4.8%. Muscat experienced a rate of 3.9%, while Al Dakhiliyah was at 3.8%. Al Wusta registered 3.4%, and each of Mus

During his official state visit to the Federal Republic of Germany, President Sheikh Mohamed bin Zayed Al Nahyan convened with German business executives and corporate heads in Berlin. The meeting marked a joint effort by both nations to deepen cross-border trade, facilitate joint venture investments, and expand bilateral commercial relations within strategic growth markets. Key topics included strengthening trade and investment ties between the UAE and Germany, with an emphasis on the private sector’s contribution to industrial innovation, artificial intelligence, and clean energy initiatives. UAE President meets German business leaders as bilateral non-oil trade volume increased to €13.4 billion, reflecting the growing economic integration connecting European manufacturing hubs with Middle Eastern trading networks.

India and Russia are stepping up their efforts to broaden trade in sectors outside of energy, aiming for a bilateral commerce volume of $100 billion annually by 2030. At the INNOPROM India 2026 industrial trade exhibition, officials shared strategies to reduce India’s significant trade deficit by increasing exports of pharmaceuticals, auto parts, textiles, and agricultural goods to Russia. The proposed trade structure, supported by 40 ongoing priority investment projects and strengthened local-currency payment settlement mechanisms, is designed to foster industrial integration and bolster cross-border supply chain resilience across Eurasia.

UAE investment in Germany targets industry, AI, digital infrastructure and energy. A substantial portion of the UAE’s investment package is allocated to digital infrastructure. Plans for advanced data centres, with a combined capacity of about 1 gigawatt in Germany, were part of the joint declaration. The document also addressed artificial intelligence, industrial progress, and energy initiatives. Germany has committed to facilitating the conditions necessary for the execution of the planned data-centre investments. These efforts build upon a growing economic partnership between the UAE and Germany in fields such as technology, manufacturing, and energy, among others.

Berlin state visit brings new UAE-Germany agreements and a major investment package. A consensus was reached to form a German-UAE Investment Council aimed at strengthening engagement between public and private sectors. The resumption of the Joint Economic Committee was also agreed upon as another platform for trade and investment dialogue. The Strategic Dialogue will encompass security, defence, commerce, energy, climate policy, transport, education, and digital development, including collaboration on emerging technologies and shared policy issues. Furthermore, Germany and the UAE signed separate agreements concerning legal assistance, crime prevention, data systems, and government information services. The agreements also addressed the aviation sector, which saw new measures such as expanded access for UAE national airlines operating at Berlin Airport. Additional documents focused on passenger procedures and cooperation between relevant authorities. The package also covers defence, security, and environmental collaboration. Both countries signed a memorandum dedicated to cultural cooperation and committed to ongoing work in energy sectors, including liquefied natural gas, renewable energy, and hydrogen. Economic links strengthened through investment initiatives The visit featured a UAE investment initiative valued at 40 billion euros dedicated to Germany. The planned investments include advanced digital infrastructure and new data centres with approximately 1 gigawatt of capacity. Companies from both nations executed 29 commercial agreements and memoranda totaling over 9.356 billion euros. These private-sector deals complemented the government agreements announced in Berlin. The investment initiative significantly enhances the economic dimension of the state visit and broadens their cooperative agenda. Trade data reveal the magnitude of

Gold prices hovered above $4,400 an ounce on Thursday, rebounding after an earlier decline seen in the previous session. Spot gold increased by 0.3% to reach $4,414.28 an ounce by 0419 GMT. Meanwhile, U.S. gold futures for December delivery dipped slightly, falling 0.1% to $4,457.20. The dollar remained subdued during Asian trading hours, providing support to bullion priced in the U.S. currency. After recovering from losses earlier that day, gold entered Thursday close to the higher levels achieved late Wednesday.