Author: Neel Achary

India-Uzbekistan Payment Deal Brings UPI Closer to Global Mainstream

New Delhi, Sep 1: India’s digital payments ecosystem is taking another step towards global expansion as NPCI International Payments Ltd (NIPL) partners with Uzbekistan’s National Interbank Processing Centre (NIPC) to enable UPI-based merchant payments across the country.

Under the new arrangement, Indian tourists, business travellers and students visiting Uzbekistan will be able to use their UPI-enabled applications to scan the country’s UZQR code and make payments at participating merchants.

The commercial agreement between NIPL, the international arm of the National Payments Corporation of India, and NIPC, which operates Uzbekistan’s HUMO payment system, was signed on August 30 during Prime Minister Narendra Modi’s visit to Uzbekistan.

The partnership follows approvals from the Reserve Bank of India and the Central Bank of Uzbekistan. HUMO has been designated as NIPL’s authorised partner for cross-border merchant acceptance.

The integration of UPI with Uzbekistan’s national QR infrastructure is expected to make everyday payments easier for Indian visitors. Travellers will be able to pay directly from their Indian bank accounts, reducing the need to carry large amounts of cash or depend entirely on international payment cards.

The development could also benefit Uzbekistan’s tourism, hospitality, retail and service sectors by making payments more convenient for Indian visitors. Hotels, restaurants, shops and other merchants can gain access to another digital payment channel as the movement of Indian travellers between the two countries grows.

From India’s perspective, the agreement strengthens the international presence of UPI and highlights the expanding role of Indian digital payment technology in cross-border commerce.

The partnership also creates scope for deeper cooperation in financial technology, digital payments and related services between the two countries. For businesses, easier payment connectivity can support tourism spending, trade-related travel and other commercial activities.

UPI is already accepted in several international markets, including Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia and Greece.

The addition of Uzbekistan further expands the international footprint of the Indian payment platform and strengthens India’s efforts to promote digital payment connectivity with partner countries.

The agreement comes at a time when QR-based payments are becoming increasingly important in international travel. For consumers and businesses alike, interoperable digital payment systems can make cross-border transactions faster, simpler and more accessible.

The India-Uzbekistan partnership therefore goes beyond a payment arrangement, offering potential benefits for tourism, retail, hospitality, fintech and wider economic engagement between the two countries.

ClearTax and Odoo Partner to Embed Tax Compliance and E-Invoicing Across Five GCC Markets

Dubai, UAE, Sep 1: ClearTax, a global tax compliance and e-invoicing technology company, has announced a partnership with Odoo, one of the world’s leading open-source business management platforms, to simplify tax compliance and e-invoicing for businesses across the Gulf region.

As part of the partnership, Odoo will develop a native integration with ClearTax for customers in the UAE and GCC. The integration will enable Odoo users to manage indirect tax compliance, invoicing and evolving regulatory requirements directly within their existing ERP workflows.

The partnership comes as governments across the region accelerate the digitisation of tax administration and introduce new e-invoicing frameworks. This is creating a growing need, particularly among small and medium-sized enterprises, for technology that can reduce manual processes, improve accuracy and keep pace with changing regulations.

Through the native connector, Odoo customers will be able to access ClearTax’s compliance capabilities through a simplified, self-service onboarding journey. By embedding compliance into software businesses already use, the integration is expected to reduce the time, effort and operational complexity involved in implementing compliant tax and invoicing processes.

The partnership is expected to initially benefit an estimated 4,000 to 5,000 businesses using Odoo across the UAE and Oman, while also extending access to Odoo customers across the wider GCC. ClearTax and Odoo plan to explore opportunities to expand the partnership into additional international markets over time.

“Businesses do not want tax compliance to operate as a separate and disconnected process. They expect it to be built into the systems they already use to manage their operations,” said Archit Gupta, Founder and CEO, ClearTax. “Our partnership with Odoo responds directly to that need. By bringing ClearTax’s compliance infrastructure into the Odoo ecosystem, we are making it easier for businesses across the region to manage regulatory change while remaining focused on growth.”

Pavitra Singh, Managing Director at Odoo Middle East, said, “The partnership between Odoo and ClearTax will allow Odoo customers to seamlessly stay compliant with the ever-evolving e-invoicing landscape across the region. At Odoo, our priority has always been to provide fully localized solutions that meet the needs of each market we operate in, and our partnership with ClearTax is a step in that direction.”

Odoo has established a strong presence among small and medium-sized businesses through its integrated suite of applications covering accounting, finance, sales, inventory, manufacturing, human resources, customer relationship management and e-commerce.

ClearTax supports more than 5,000 enterprises globally and processes over one billion e-invoices annually. Its tax compliance and e-invoicing platform enables businesses to integrate regulatory compliance into existing ERP and finance systems through automation, intelligent workflows and API-led integrations.

By combining Odoo’s business management platform with ClearTax’s compliance technology and regional expertise, the partnership aims to make tax compliance a more seamless part of everyday business operations for companies across the Gulf.

Argentinian President Javier Milei and FIA President Mohammed Ben Sulayem open FIA American Congress in Buenos Aires

During their meeting, the two Presidents discussed the future of mobility and motorsport in Argentina and across the Americas

 Dubai, UAE, Sept 01:  The President of Argentina, Javier Milei, and FIA President H.E. Mohammed Ben Sulayem have officially opened the 2026 FIA American Congress in Buenos Aires, bringing together FIA Member Clubs from across the Americas to advance the future of mobility and motor sport.

President Milei joined President Ben Sulayem and representatives from 32 FIA Member Clubs from North, Central and South America and the Caribbean at the opening of the three-day Congress, hosted by the Automóvil Club Argentino (ACA).

Ahead of the opening yesterday (Monday), President Ben Sulayem met with President Milei, with discussions focused on the opportunities to strengthen cooperation between the FIA and Argentina across both mobility and motorsport.

The two Presidents discussed Argentina’s ambitions for the continued growth of motorsport, including Formula One and the FIA’s five other World Championships, building on a proud racing heritage and passionate fanbase.

They also discussed the rapidly changing mobility landscape and the importance of collaboration between governments, FIA Member Clubs and industry to deliver safer, more accessible and more sustainable transport for road users.

The meeting continued a series of high-level engagements by the FIA President across South America, following meetings with President José Antonio Kast of Chile and President Santiago Peña of Paraguay in recent days, as the Federation works with governments and its Member Clubs to grow motorsport and strengthen mobility across the region.

Opening the Congress, the President of Argentina Javier Milei said: “The Argentine Automobile Club has made an enormous contribution to national motorsport, and Argentina is a country that loves cars. The Argentine passion for racing is timeless.

“That is why I invite you to dream with me. Argentina has all the conditions necessary to once again welcome Formula One and the World Rally Championship onto its calendar. We have the tradition. We have the drivers. And now we are once again developing the institutional seriousness that these categories demand before choosing a country. We have absolutely everything.

“It is time to accelerate at full speed in this direction, and I invite you to make this [FIA American] Congress the first step towards that return. Because at the end of the day, the freedom to move, to choose the car you drive, the route you take and the destination you want to reach is one of the most concrete and everyday expressions of freedom.

“Today, we welcome you with those same roads, more open than ever, and with the same conviction that anyone who wants to move, compete or build in Argentina should be able to do so in freedom. Let us move forward together at full speed to turn this dream into reality.”

 

FIA President H.E. Mohammed Ben Sulayem said: “It was an honour to meet with President Milei and to open the FIA American Congress together here in Buenos Aires. Argentina has an extraordinary history in motor sport and a passionate community of fans, competitors and volunteers.

“We discussed how we can build on that heritage, create new opportunities for the next generation and support Argentina’s ambition to bring more international motor sport to the country.

“Across mobility too, this is a region undergoing significant change. Our Member Clubs are at the heart of that transformation, and this Congress is about bringing their knowledge together, sharing solutions and ensuring the FIA continues to deliver for road users and motor sport communities across the Americas.”

The Congress is being hosted by the Automóvil Club Argentino, one of the FIA’s long-standing Member Clubs with over 122 years of operations in the country, playing a central role in the development of both mobility and motor sport across Argentina.

The three-day FIA American Congress is providing a platform for FIA Member Clubs to share expertise and develop solutions around some of the biggest opportunities and challenges facing motorsport and mobility across the region.

Argentina provides a fitting backdrop. Motorsport is deeply embedded in the country’s culture, from five-time FIA Formula One World Champion Juan Manuel Fangio to current Formula One driver Franco Colapinto and the country’s thriving national competition scene across touring cars, rallying, karting and single-seaters.

Alongside its sporting heritage, Argentina is one of Latin America’s most significant mobility markets, with more than 15 million vehicles, an extensive road network and a major domestic automotive industry.

UPI Sets New Monthly Record as Digital Payments Touch 24.51 Billion in August

New Delhi, Sep 1: India’s digital payments landscape continued to expand at a rapid pace in August, with the Unified Payments Interface (UPI) recording a new monthly high of 24.51 billion transactions worth Rs 29.82 lakh crore.

Data released by the National Payments Corporation of India (NPCI) showed that UPI transaction volumes increased 3.6 per cent from 23.66 billion in July. On a year-on-year basis, transaction volumes rose 22 per cent, highlighting the growing dependence of consumers and businesses on instant digital payments.

The value of transactions, however, remained broadly stable on a monthly basis. UPI processed transactions worth Rs 29.88 lakh crore in July, compared with Rs 29.82 lakh crore in August, marking a marginal decline of around 0.2 per cent. On a year-on-year basis, transaction value increased 20 per cent.

On an average day, UPI processed nearly 791 million transactions during August, while the average daily transaction value stood at around Rs 96,205 crore.

The latest performance underlines how deeply digital payments have become embedded in everyday economic activity. From neighbourhood shops and food outlets to online purchases, utility payments and money transfers, UPI has increasingly become a preferred payment option because of its speed and convenience.

The sharp rise in transaction volumes, despite the marginal decline in overall value from July, also points to the continued popularity of smaller-ticket digital payments. The government has noted that a large share of UPI merchant transactions consists of payments below Rs 500, reflecting its widespread use for routine purchases.

UPI’s growth has been particularly striking over the past decade. The platform has evolved from a relatively new digital payment system into a core part of India’s financial infrastructure, with annual transaction volumes rising dramatically since its launch.

The August milestone comes after UPI crossed the 23-billion monthly transaction mark earlier this year. Its latest performance further reinforces the platform’s position at the centre of India’s shift towards a real-time, mobile-first payments ecosystem.

Meanwhile, the Immediate Payment Service (IMPS) recorded 360 million transactions in August, with the transaction value rising 18 per cent year-on-year to Rs 7.04 lakh crore, according to NPCI data.

UPI is also steadily expanding its international footprint, with the payment system now available for merchant payments in multiple countries. The expansion is enabling Indian travellers to use familiar UPI-enabled applications for digital payments overseas while strengthening India’s presence in the global real-time payments ecosystem.

With transaction volumes continuing to set new records, the August numbers highlight the increasing role of digital payments in India’s consumer economy and the growing preference for fast, convenient and interoperable payment methods.

HiLITE Group Hands Over Olympus Tower 1, Reshaping Modern Urban Living and a Sense of Community at HiLITE City, Calicut

Kozhikode, Sept 01: HiLITE Group has handed over Olympus 1, the first tower of HiLITE Olympus, an ultra-modern residential development that brings together luxury, expansive amenities and nature at HiLITE City, Kozhikode. Set across 7.07 acres, Olympus features more than 100 amenities and India’s largest terrace recreation space, spanning over 40,000 sq ft, alongside 526 apartments across 33 floors. With a built-up area of 12,70,039 sq ft and apartments ranging from 919 sq ft to 3,150 sq ft, Olympus is designed to offer a distinctive, future-ready living experience. Sustainability and urban forestry are woven into the development, creating a balance between modern comforts and green spaces. The second tower, Olympus 2, comprises 412 apartments across 32 floors and is currently under construction.

 Unlike conventional designs where multiple towers accommodate numerous apartments, all 938 apartments across the project are designed within just two towers. Each tower features a single straight passage connecting the apartments, a distinctive architectural choice that enhances connectivity and togetherness among residents. Beyond its architectural brilliance, Olympus is built on the idea of community living.

The concept of community living within a luxurious space was a vision deeply rooted in the mind of P. Sulaiman, the driving force behind HiLITE.  “When someone chooses to settle in their homeland, they should not only experience global standards of luxury but also be part of a vibrant, secure, and engaging community,” said P. Sulaiman, Chairman, HiLITE Group.  His vision was brought to life through the meticulous design crafted by Stapati Architects, ensuring that Olympus stands as a benchmark in modern living.  

This sense of community is further strengthened by 100+ unparalleled amenities spread across what is among India’s largest recreation terraces. From expansive social spaces to world-class recreational facilities, every detail has been thoughtfully planned to create a living experience like no other.

Olympus 1‘s handover comes close on the heels of two other significant project completions by HiLITE Group, HiLITE Cypress and HiLITE Patras, emphasizing the Group‘s consistent momentum in delivering premium residential spaces across Calicut. The Group has already inaugurated HiLITE Countryside project at Chemmad, an innovative retail concept introduced by the Group, for smaller towns and emerging Tier 3 markets. It functions as a compact extension of the Group’s flagship HiLITE Mall format, tailored to deliver high-quality retail, dining, and entertainment experiences closer to rapidly developing locales.

“Bringing a project of this scale and ambition to Calicut has been both a privilege and a responsibility, and we are truly proud to see it take shape as one of the finest residential innovations in the region,” said Ajil Mohammed, CEO of HiLITE Group.

With 22 apartments on a single floor, HiLITE Olympus sets several records straight. Apart from the enormous terrace, the Plaza on the 4th Basement, sprawling across 20,000+ sq ft, provides further space for various amenities. Residents of HiLITE Olympus need not look elsewhere for entertainment and relaxation, they only need to step onto the recreational floor.

“This project is the culmination of meticulous planning and architectural innovation to redefine what urban living truly means. Every detail, from its architecture to its amenities, has been thoughtfully designed to give our residents an unmatched quality of life,” said Mohamed Fazeem, CEO – HiLITE Builders.

Located within HiLITE City, one of India’s largest mixed-use developments, HiLITE Olympus offers residents a host of added advantages, all within reach at HiLITE City. This includes the HiLITE Mall and HiLITE Business Park, along with everyday conveniences such as Hug a Mug, a 24×7 coffee shop, and Palaxi Cinemas, an 8-screen world-class theatre. Residents can also unwind at Compass, a dedicated center for rejuvenation, or spend time at Club 6T6. Adding to the everyday convenience is a 65,000 sq. ft. hypermarket within HiLITE Mall, while HiLITE City is home to over 2,000 apartments.