05 Oct 2025

Typhoon Bualoi caused significant damage in northern central Vietnam, with property losses estimated at USD 303 million. Nearly 170,000 homes were affected, while roads, schools, and offices suffered damage. Tens of thousands of households faced power outages, and over 34,000 hectares of crops were destroyed. Industrial facilities largely avoided major harm, though some large factories were in the storm's path. The typhoon disrupted transport services and school operations in Hanoi. Vietnam's coastline remains highly vulnerable to typhoons, with previous storms causing severe losses and fatalities.Read more

04 Oct 2025

Indonesia's state utility PLN has begun building a 92 MW-peak floating solar power plant on the Saguling reservoir in West Java, around 180 km from Jakarta, as part of its renewable energy expansion. Scheduled to start operations in November 2026, the plant will generate more than 130 GWh of electricity annually and cut carbon emissions by 104,000 tons. It forms part of Indonesia's broader plan to add 42.6 GW of renewable energy by 2034, with 17.1 GW coming from solar. PLN CEO Darmawan Prasodjo called the project a milestone in Indonesia's clean energy shift. Investment details were not disclosed.Read more

04 Oct 2025

Dubai's real estate market reached a historic high in Q3 2025, posting the largest ever quarterly sales volume and the second-highest value, with 59,228 transactions worth AED170.7 billion, up 17.2% and 19.9% year-on-year respectively. Data from DXBinteract showed sales in the first nine months hit AED498.8 billion from 158,200 deals, marking a 32.3% rise in value and 20.4% in volume compared to 2024. Apartment sales led the surge, while plot and commercial transactions also grew strongly. Villas dipped in volume but prices continued to climb, with the median hitting AED1,685 per sq ft. Luxury sales stood out, including a villa sold for AED250 million.Read more

04 Oct 2025

Serica Energy has agreed to acquire Prax Upstream, the operator of the Lancaster oilfield in the UK North Sea, for USD 25.6 million. The deal includes a 100% interest in Lancaster, a 40% operated interest in the Greater Laggan Area, a 10% interest in the Catcher Field, and a 5.21% interest in the Golden Eagle Area. The acquisition is expected to generate an additional USD 50 million in free cash flow by 2026 and add around 11 million barrels of oil equivalent to Serica's reserves. This step strengthens Serica's operational presence and financial position in the North Sea.Read more

04 Oct 2025

With the recent announcement of the government shutdown, tourists are facing mixed experiences at national parks and historic sites. Status of Liberty and Ellis Island remained open despite New York Governor Kathy Houchul's decision to fund operations. President Jimmy Carter's gravesite in Georgia, Philadelphia's Liberty Bell and Independence Hall, and Atlanta's Martin Luther King Jr. National Historical Park is all shut. While roads and trails largely stayed accessible, visitor centers closed, raising safety concerns. Past shutdowns, like at Joshua Tree in 2019, saw vandalism and damage, fuelling calls from former superintendents to close all parks during shutdowns.Read more

04 Oct 2025

Moldova's GDP grew by 1.1% in the second quarter of 2025, driven by construction, energy, and IT industries. The first quarter had seen a 1.2% contraction, indicating early-year challenges. The European Bank for Reconstruction and Development expects GDP growth of 1.5% this year and 3.8% next year, supported by European Union programs. The central bank's interest rate cut to 6% aims to boost investment and economic activity. Agriculture, remittances, and IT continue to be major contributors, with the IT sector playing an increasing role in supporting the country's economic stability and gradual diversification.Read more

04 Oct 2025

Shein, the online fast-fashion giant, is set to open its first permanent stores in France this November under a deal with Société des Grands Magasins (SGM), starting at Paris's BHV department store and later at Galeries Lafayette outlets in Dijon, Grenoble, Reims, Limoges, and Angers. The move, a shift from Shein's online-only model and past pop-up stores, has sparked backlash from French retailers, lawmakers, and Paris Mayor Anne Hidalgo, who criticised it as undermining local, sustainable commerce. Galeries Lafayette has also opposed the plan, citing conflicts with its brand values. Critics argue Shein's ultra-low-cost model threatens struggling French fashion retailers already hit by fast-fashion competition.Read more

04 Oct 2025

Russia has assigned PSB, a military-linked bank under Western sanctions, to manage accelerated state property sales. A new decree mandates asset valuations within 10 days of signing a contract and speeds up property rights registration. The government aims to raise 100 billion INR this year and up to USD 12 billion by 2030, including part of the USD 50 billion in seized assets. These measures follow Western company exits, expropriations, and state seizures, with officials citing "unfriendly" actions by the U.S. and its allies as the reason.Read more

04 Oct 2025

Fermi, a Texas-based REIT co-founded by Rick Perry, raised USD 682.5 million in its U.S. IPO, selling 32.5 million shares at USD 21 each and achieving a valuation of USD 12.46 billion. The company is developing a large AI data center campus powered by nuclear, solar, and natural gas to serve hyperscale tenants. Strong investor demand led to an increase in IPO size. While still early in operations, with a reported USD 6.4 million loss to date, Fermi aims to deliver up to 11 gigawatts of power by 2038.Read more

03 Oct 2025

Dar Global is set to develop a USD 1 billion Trump Plaza in Jeddah, featuring premium residences, serviced apartments, office spaces, and exclusive townhouses. This is the second Trump-branded development in Saudi Arabia, following Trump Tower Jeddah last year. The project targets high-end buyers and international investors, reflecting growing demand for luxury real estate in the kingdom. Trump Plaza Jeddah aligns with Saudi Arabia's efforts to diversify real estate and hospitality investments and reinforces the role of international brands in shaping Jeddah's urban and luxury property landscape, contributing to the city's position as a growing hub for premium developments.Read more