Category Archives: Business

Dubai sees summer shift as tenants move home to reduce rents by 15%

Dubai Land Department analysis by fäm Properties shows switch to better-quality apartments as leasing activity remains steady

 Dubai, UAE, Sept 23: The Dubai real estate market has witnessed a clear shift during the summer months as hundreds of tenants moved home to take advantage of new leases reducing annual rents by up to 15%.
 
An analysis by fäm Properties of Dubai Land Department tenancy registrations shows that new leases exceeded renewals by 633 contracts in July, and by 2,139 in August – the first time this has happened in any month since the dataset began in January 2023.
 
Renewals had outnumbered new leases for 36 months in succession before the summer turnaround, with the switching by tenants concentrated in mid-market and prime districts.

 
 
“The reason for this is very simply about price, with new-lease rents for the same building and unit type now 15.3% lower than in January, while renewal rents are down about 1%,” said Firas Al Msaddi, founder and CEO of fäm Properties.
 
“Previously, it was in the interests of tenants to stay where they were, especially as moving home can be challenging in various ways. But that has all changed because tenants can now move to a comparable apartment for less than a renewal would cost.”

Data from DXBijnteract shows that, in August, new leases outnumbered renewals by 1,102 in Al Barsha South Fourth (Jumeirah Village Circle), 609 in Business Bay, 598 in Al Merkadh, 564 in Marsa Dubai (Dubai Marina) and 342 in Downtown Dubai.
 
Meanwhile, in more affordable districts like Al Warsan First (International City), Jabal Ali First (Jebel Ali) and Nadd Hessa (Dubai Silicon Oasis), renewals still outnumbered new.

Overall, leasing activity has remained steady. New-lease contracts for January to August are 1% below the same period in 2025, with July (about 14,100) and August (about 15,600) above last year’s levels. Renewals are also 1% below 2025.

The median rent on new apartment leases was AED 94.6 per square foot in August, 8.3% below its October 2025 peak of AED 103.1.

 
“The difference is that the leases still being signed are weighted towards better-quality and better-located stock, so the average of what is let holds up, while the price of any given apartment falls,” said Al Msaddi.
 
“Where landlords observed market conditions, leases were signed, while other tenants moved to capitalise on lower rents and other attractions. That is why the volume of registered contract held while rents fell.”

Where to Café-Hop This Weekend: NCR’s Most Charming Spots

The weekend is  just around the corner, and if your idea of a perfect Saturday is also a good cup of coffee, good food, and an even better vibe to chill in, you have come to the right place. The cafe scene in NCR has exploded in the last few years, and choosing where to spend your Sunday mornings (or your lazy Tuesday afternoons, we don’t judge) has never been a harder or more delicious problem. Whether you’re a coffee enthusiast, a gelato devotee, or someone who just wants a dreamy and aesthetic corner to sit and pretend you’re writing a novel or even daydreaming of being a main lead in a k drama, this list is your weekend sorted.

Here are five cafes in NCR you must visit on weekends:

1. Barista Coffee Company 

There are some cafes which will always stay popular and Barista Coffee Company is one such cafe. The popular name among coffee enthusiasts all around India, Barista has kept up with the changing trends but never lost the reason why people like it – tasty coffee in a cozy and warm atmosphere.

Be it a classic cappuccino, an iced coffee, or some of its seasonal offerings like Main Hoon Mango series including Dirty Mango Latte, Chilli Mango Tango, Mango Iced Espresso, Mango Matcha, and Mango Affair, along with a tasty Mango Cheesecake Slice, whatever you wish to have will be available. Complement your coffee with a freshly baked croissant, a sandwich, or some cake, and you will enjoy a wonderful afternoon.

With its comfortable seats and a relaxed environment, Barista is a place where you can meet with friends, conduct business meetings, or just relax on your own with a cup of coffee. If you’re looking for a dependable café where conversations flow as easily as the coffee, Barista continues to be a favourite 

2. Gram Street Coffee 

Gram Street Coffee is a cozy little café located in Gurugram and is frequented by individuals who love gourmet and specialized food. This is the sort of place where one feels right at home once inside because of its brightly lit interiors and laidback feel.

While coffee is certainly a highlight here, the menu at Gram Street Coffee includes some interesting dishes for breakfast and brunch that are comforting yet fresh, making it a great place to come during weekends. There are also homemade gelatos at Gram Street Coffee that have now become one of the most popular items on the menu.

For those looking to catch up with friends over a delicious meal or just looking for some time out from the busy life to relax and enjoy coffee, Gram Street Coffee is the perfect spot.

3. Nubo

A café with deliciously healthy and hearty food is something most people would like to try. If such a café is what you want, then a visit to Nubo should definitely be a part of your weekend schedule.

The menu at Nubo is filled with healthy foods, such as bowls of fresh fruits and vegetables, salads, sandwiches, smoothies, and other healthy drinks that will provide you with energy and flavor. It is the kind of café that does not leave a person feeling sluggish after the meal.

Nubo’s interior space also follows its philosophy. Clean design, soft color palette, and an abundance of light make for a cozy place where one can have a relaxing conversation with friends or enjoy a peaceful brunch or lunch.

4. Pour Over Coffee Roasters 

If you think coffee should be enjoyed and not rushed through, then this is the place to be at. The cafe has made itself famous for its dedication towards specialty coffee and attracts everyone from beginners to experienced coffee connoisseurs because of their approach towards the art of coffee making.

Starting from the quality of the beans used, right down to how every cup is brewed, everything is done in such a way that maximizes the taste of the coffee. Whatever drink you choose to have – whether it is a poured-over, a flat white or even an espresso, the whole aim is to bring out the natural flavors of the coffee.

The food menu keeps things simple with fresh bakes and light bites that pair beautifully with the drinks . With the serene environment and minimalistic decor, you get a chance to sit back, relax and savor your coffee.

5. Subko Coffee 

Few names have generated as much excitement in India’s specialty coffee scene as Subko. . The brand takes pride in celebrating not just the culture of Indian coffee but the art of crafting great coffee by using skilled artisans to create a unique café experience.

While the star of the café experience is undoubtedly the coffee, the bakery deserves equal attention. With fresh croissants, layered pastries, sourdough loaves, and seasonal specialties taking up counter space, you will be tempted to try out everything there is on offer. Similarly, the menu at the café is also created by giving the same level of thought and care into each dish that is offered.

The café is modern enough for the connoisseurs of coffee but not so pretentious that the average visitor would feel intimidated.

Your Weekend, Sorted

A good café is never all about coffee. These places encourage people to linger a bit longer and create ideas. Cafés make the weekends go by a little slower so that everyone can enjoy their small joys of life. You might like a place such as Barista Coffee Company, a place where you can relax with friends during brunch at Gram Street Coffee, have healthy food at Nubo, enjoy coffee that has been prepared carefully at Pour Over Coffee Roasters, or enjoy artisan coffee at Subko.

So the next time your group chat asks, “Where are we meeting this weekend?”, you’ll have more than one great answer. Pick a café, order your favourite brew, and let the weekend unfold one cup at a time. 

Happy hopping, NCR.

Tungaloy and NTK Cutting Tools Announce Merger, Building on Complementary Strengths

Tungaloy Corporation and NTK Cutting Tools announce that, effective January 1, 2027, NTK Cutting Tools will merge with Tungaloy, marking a new chapter for both organizations. The merger is subject to compliance with applicable legal and regulatory requirements.

Sept 23: Following the merger, the integrated organization will operate under the Tungaloy corporate name, while retaining the NTK Cutting Tools brand. NTK Cutting Tools will operate as a dedicated division within Tungaloy, building on the technology, heritage and expertise that have established its strong reputation in the cutting tool industry.

Alongside the integration, plans have been finalized for a new headquarters and state-of-the-art manufacturing facility for NTK Cutting Tools in the Nagoya area, Japan. This multi-million investment will increase production capacity, introduce advanced manufacturing technologies and provide a modern environment for manufacturing, engineering, marketing and corporate functions.

1+1>2: Combining Complementary Strengths

The merger brings together synergy and complementary strengths from both organizations. Tungaloy combines a broad cutting tool portfolio with strong expertise in grade development and innovation, while NTK Cutting Tools is recognized as a global leader in ceramic cutting tool technology and miniature lines.

The integration will also bring together the dedicated people and industry knowledge behind them.

For customers and distribution partners, this combination will provide a broader range of technologies, application expertise and industry knowledge to support manufacturers worldwide.

Four Seasons Hotel Mumbai Earns a MICHELIN Key for its Contemporary Take on Luxury

Mumbai, 22 September 2026: Four Seasons Hotel Mumbai has been awarded a MICHELIN Key by the MICHELIN Guide, recognising the hotel as one of the distinguished stays in its 2026 hotel selection.

In its review, the MICHELIN Guide notes that while Mumbai is home to some of India’s grandest palace hotels, Four Seasons Hotel Mumbai takes a distinctly contemporary approach. The Guide highlights the hotel’s gleaming glass tower and stone-clad lobby, with interiors in subdued, natural colours that favour a contemporary aesthetic over traditional or colonial references. The MICHELIN Guide also draws attention to the guest rooms, where design takes a back seat to the views, particularly those overlooking the Arabian Sea. Marble bathrooms with separate soaking tubs, oversized televisions and other five-star comforts further shape the stay.

The hotel’s location in southern Worli is noted as particularly convenient for business travellers, while the two-floor spa and daily yoga sessions offer a counterpoint to the pace of the city.

“Receiving a MICHELIN Key is a meaningful recognition for the team at Four Seasons Hotel Mumbai. What makes it particularly significant is that the recognition comes from a guide that has looked closely at the experience of the hotel and what sets it apart within Mumbai’s luxury hospitality landscape. The MICHELIN Guide’s observations on our contemporary design and approach to guest comfort speak to the experience we have worked to create,” says Nitesh Gandhi, General Manager, Four Seasons Hotel Mumbai.

Four Seasons Hotel Mumbai continues to set its own standards with its rooftop bar AER, all-day dining at Opus, spacious spa rooms and personalised service. The recognition comes as the hotel looks towards its next chapter, with SanQi, its upcoming restaurant, adding to its offering.

India-EU Talks Focus on EVs, Batteries and Industrial Decarbonisation

New Delhi, September 23, 2026: Union Minister for Heavy Industries and Steel H.D. Kumaraswamy held discussions with a delegation from the European Parliament’s Committee on Industry, Research and Energy (ITRE) in New Delhi, with talks centred on strengthening cooperation between India and the European Union in electric mobility, battery manufacturing, clean energy and industrial decarbonisation.

The meeting brought together Members of the European Parliament and officials from the ITRE Secretariat to discuss opportunities for deeper collaboration in industrial development, technology, investment and sustainable manufacturing.

Kumaraswamy said the visit comes at an important stage in India-EU relations following the 16th India-EU Summit held in January 2026, where FTA negotiations were concluded and the two sides adopted a Joint India-EU Comprehensive Strategic Agenda. He highlighted the scope for expanding cooperation in trade, investment, technology and global supply chains.

During the discussions, the Minister outlined several initiatives being implemented by the Ministry of Heavy Industries to strengthen India’s manufacturing capabilities and accelerate the transition towards electric mobility.

These include the Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components, the PLI Scheme for Advanced Chemistry Cells (ACC) and the PM E-DRIVE scheme. According to the Ministry, these programmes are designed to support domestic manufacturing, encourage investment and strengthen India’s electric vehicle and battery ecosystem.

Kumaraswamy also invited European companies to participate in India’s ongoing global bidding process for 10 GWh of Advanced Chemistry Cell manufacturing capacity intended for stationary energy storage applications. The bidding process is open until October 13, 2026.

Industrial decarbonisation was another key area of discussion. The Minister highlighted India’s efforts to reduce emissions from industrial sectors while maintaining manufacturing growth. Among the initiatives discussed was BHEL’s indigenous gasification technology, along with measures aimed at improving resource efficiency and supporting cleaner industrial production.

The Minister also outlined India’s approach to greening the steel sector through greater use of scrap recycling, steel slag utilisation and circular economy practices. These measures are aimed at improving resource efficiency while reducing the environmental footprint associated with steel production.

Senior officials from the Ministry of Heavy Industries and Steel, including Secretary Kamran Rizvi and Additional Secretary Hanif Qureshi, participated in the discussions alongside the European Parliament delegation.

Members of the European Parliament delegation acknowledged India’s efforts to expand electric mobility, strengthen domestic manufacturing and advance industrial decarbonisation. They also expressed interest in expanding cooperation in clean technologies, sustainable transportation and advanced energy solutions.

The discussions highlighted areas where India and European industries could potentially collaborate on emerging technologies, manufacturing capabilities and energy-transition solutions. Electric vehicles, battery technologies and industrial decarbonisation are increasingly important areas of cooperation as both sides work towards more sustainable industrial systems.

Kumaraswamy said India and the European Union could combine their respective strengths to support the clean-energy transition and develop sustainable transport solutions. He also emphasised the potential for continued engagement between Indian and European stakeholders in the industrial sector.

The meeting underlined the growing scope of India-EU cooperation beyond traditional trade and investment, with clean technology, advanced manufacturing, electric mobility and sustainable industrial practices emerging as important areas for future collaboration.

Telecom Manufacturing Zone Draws INR 5,500 Crore Investment Interest as DoT Holds Bengaluru Roundtable

Bengaluru, September 23, 2026: The Department of Telecommunications (DoT) held its third Investors’ Roundtable in Bengaluru to attract investments and strengthen India’s domestic telecom manufacturing ecosystem, with discussions centred on the proposed Telecom Manufacturing Zone (TMZ) at Gwalior, Madhya Pradesh.

Union Minister for Communications and Development of North Eastern Region Jyotiraditya M. Scindia and Madhya Pradesh Chief Minister Mohan Yadav jointly chaired the investor interaction. The meeting brought together companies and industry leaders from the telecom, technology, semiconductor and electronics sectors to discuss manufacturing, research and development, innovation, exports and domestic value addition.

Scindia said that 24 companies are already on board and have proposed investments of around ₹5,500 crore in the Gwalior Telecom Manufacturing Zone. He said the initiative demonstrates cooperation between the Union and State governments in creating an investment environment for technology and manufacturing companies.

According to the Minister, the Madhya Pradesh government has put in place incentives and subsidies estimated at around ₹8,000 crore to support investments in the State. He emphasised that coordinated government support is intended to give private-sector investors greater confidence to establish manufacturing and innovation operations.

The Bengaluru roadshow marked the completion of the first phase of the government’s investor outreach programme for the TMZ. Scindia said the government intends to respond quickly to investor concerns, with a proposed mechanism to address queries or issues related to the zone within 48 hours.

The Minister also highlighted the changing structure of India’s technology economy, pointing to the need to increase domestic value addition and develop intellectual property within the country. He said the telecom sector represents an important opportunity for India to move beyond services and expand its capabilities in designing and manufacturing products for domestic and international markets.

Chief Minister Mohan Yadav said Madhya Pradesh’s location and infrastructure provide a foundation for attracting investments across sectors. He highlighted the State government’s focus on creating an environment conducive to emerging industries, particularly technology and telecommunications, and said the TMZ could contribute to investment and employment generation.

The Telecom Manufacturing Zone project formally took shape with a Memorandum of Understanding signed on July 30, 2026, between the Department of Telecommunications and the Government of Madhya Pradesh in New Delhi. The first phase is planned as an integrated, plug-and-play industrial cluster for telecom and electronics manufacturing, research and development, innovation and allied activities.

Under the agreement, the Central Government is providing 100% funding support of ₹493 crore for Phase I of the project. The Madhya Pradesh government has allocated approximately 170 acres of land free of cost, along with incentives aimed at encouraging investors to establish facilities within the zone.

The Bengaluru meeting follows investor roundtables held earlier in Delhi and Mumbai, where companies indicated investment commitments of approximately ₹5,500 crore and the potential creation of around 18,000 employment opportunities through the TMZ initiative.

At the third roundtable, participating companies expressed interest in investing an estimated ₹700 crore to ₹800 crore, subject to internal management approvals and further evaluation. Several companies also indicated plans to conduct site visits before taking investment decisions.

The proposed Gwalior zone is intended to create an integrated ecosystem covering manufacturing, product development, innovation and supporting activities. The initiative is expected to encourage greater domestic value addition in telecom and electronics while creating opportunities for technology companies and component manufacturers.

As part of his Bengaluru engagement, Scindia also visited Qualcomm, where he met the company’s leadership and senior representatives. Discussions covered developments in telecommunications technology, semiconductor capabilities, indigenous product development, research and innovation, and opportunities for technology companies to participate more actively in India’s telecom manufacturing ecosystem.

The visit also provided an opportunity for government and industry representatives to discuss requirements relating to telecom equipment, semiconductor technologies, product design, R&D and next-generation communication systems.

The Telecom Manufacturing Zone is being positioned as a component of India’s broader efforts to expand domestic manufacturing and reduce dependence on imported technology and components. By combining industrial infrastructure with investment incentives, research capabilities and manufacturing facilities, the initiative aims to support the development of a more integrated telecom and electronics ecosystem in India.

With investor outreach now moving through its next phase, the government is expected to continue engaging companies to translate expressions of interest into manufacturing projects, investment and employment opportunities at the Gwalior Telecom Manufacturing Zone.

Coal India’s CSR Journey Expands from Community Welfare to Inclusive Growth

New Delhi, September 23, 2026: Coal India Limited (CIL) has significantly expanded the scale and scope of its Corporate Social Responsibility (CSR) initiatives, moving from traditional community welfare programmes around mining areas to a broader model focused on inclusive growth, healthcare, education, livelihoods and community development.

CIL’s commitment to communities around its mining operations predates the mandatory CSR framework introduced under the Companies Act, 2013. Under the Community Development Policy, 2005, CIL’s subsidiaries undertook welfare activities in villages located within an 8-kilometre radius of their mining operations. These initiatives included drinking water facilities, healthcare camps and basic infrastructure projects.

During FY 2011-12 to FY 2013-14, the company’s consolidated expenditure under the earlier community development framework increased from Rs. 82 crore to Rs. 409 crore. The introduction of Section 135 of the Companies Act, 2013 subsequently provided a formal statutory framework for CSR expenditure, with activities guided by Schedule VII and overseen through Board-level CSR mechanisms.

CIL subsequently developed its own CSR framework, including a focus on communities located close to its mines and establishments. At least 80% of annual CSR expenditure is directed within a 25-kilometre radius, with priority given to project-affected areas, while the remaining allocation supports state and national-level initiatives. More than 90% of CIL’s CSR expenditure is incurred in coal-bearing states, according to the company.

The company’s CSR spending has also moved substantially beyond its statutory requirement. Between FY 2014-15 and FY 2025-26, CIL spent approximately Rs. 7,276 crore on CSR, compared with a statutory requirement of Rs. 5,795 crore. Annual CSR expenditure has grown from levels of around Rs. 500 crore in earlier years to nearly Rs. 1,000 crore annually, placing CIL among India’s significant corporate CSR contributors.

A major component of CIL’s CSR portfolio has been its alignment with national development priorities. The company has supported initiatives covering sanitation, healthcare, education, emergency relief, skill development and livelihoods. Under the Swachh Vidyalaya Abhiyan, CIL became the largest CPSE contributor and supported the construction of more than 50,000 toilets in government schools.

CIL has also undertaken several healthcare and social welfare programmes. Its NIRMAN initiative has supported more than 1,300 UPSC aspirants from mining districts, while the Thalassemia Bal Sewa Yojana has enabled more than 1,000 bone marrow transplants. Through the Nanha Sa Dil programme, more than 2 lakh children have been screened, with over 1,700 children receiving treatment for congenital heart disease.

Education has emerged as another major area of intervention. CIL’s scholarship initiatives, including programmes undertaken with the Supreme Court of India, have reached more than 2,500 children. The company’s Digital Vidya initiative has also commissioned more than 2,300 smart classrooms and 500 ICT/STEM laboratories in government schools. A 5,000-seat state library is also under construction in Ranchi.

CIL’s CSR investments have additionally contributed to strengthening regional healthcare infrastructure. A 500-bed medical college and hospital at Angul and a cardiac care centre at Jharsuguda, together representing an investment of approximately Rs. 596 crore, are intended to expand access to specialised healthcare in their respective regions.

Beyond healthcare and education, the company has placed emphasis on employment-oriented programmes and livelihood generation. Initiatives such as Project PRAGATI, tribal women’s poultry programmes, plastic engineering courses and multi-skill training have benefited more than 48,000 people over the past four financial years, according to CIL.

Sports and institutional development have also formed part of the company’s CSR portfolio. The Khelgaon Sports Academy, operated in partnership with the Government of Jharkhand, has produced more than 1,800 medals, including 15 at the international level. Other projects have included support for institutions such as IIT (ISM) Dhanbad and public-interest infrastructure initiatives such as the illumination of Kolkata’s Howrah Bridge.

Collectively, CIL estimates that its CSR initiatives have reached approximately 3.56 crore people, directly and indirectly. The programmes have particularly focused on communities and vulnerable groups, including SC/ST populations, women and persons with disabilities. The initiatives also correspond with several Sustainable Development Goals, including those relating to poverty reduction, healthcare, education, gender equality, and water and sanitation.

The company has developed a structured mechanism for planning, implementing and monitoring its CSR projects. Annual Action Plans are prepared based on identified community requirements, while project agreements specify deliverables and timelines. Funds are released in stages linked to project milestones and utilisation certificates, with larger initiatives subject to third-party impact assessments.

Oversight is further supported through internal and statutory audits, along with CAG-related scrutiny. This approach is intended to strengthen transparency, accountability and measurement of outcomes rather than focusing solely on expenditure.

The broader CSR framework for the coal sector is also evolving. On September 8, 2026, the Ministry of Coal launched a sector-wide CSR framework, becoming the first Union ministry to introduce such an initiative. The framework is aimed at promoting greater consistency, convergence and accountability across CSR programmes undertaken by coal-sector public sector enterprises.

CIL’s CSR trajectory therefore reflects a broader transition from location-based community welfare towards structured programmes that combine social infrastructure, human development, livelihoods and measurable outcomes. With annual expenditure approaching Rs. 1,000 crore and programmes spanning multiple sectors, the company’s CSR model continues to evolve alongside the development needs of communities associated with India’s coal-producing regions.

World Financial Planning Day Marks 10 Years with Global Activities and New Research on AI in Financial Planning

DENVER, COLO – 23 September 2026 – As financial decisions grow more complex, Financial Planning Standards Board Ltd. (FPSB) and its global network will celebrate the 10^th annual World Financial Planning Day (WFPD) on 7 October 2026 to show how financial planning with the help of a CERTIFIED FINANCIAL PLANNER professional can help individuals and families make informed decisions, reach their goals and achieve greater financial confidence. 

Held as part of the International Organization of Securities Commissions’ (IOSCO) World Investor Week (WIW) , the global campaign provides an opportunity to reinforce the value of financial planning and the role CFP professionals play in strengthening financial education and consumer protection worldwide. View video remarks from IOSCO Secretary General Rodrigo Buenaventura.

“World Financial Planning Day is a chance for people everywhere to see how financial planning can help them take meaningful steps toward the lives they want to live,” said FPSB CEO Dante De Gori, CFP. “As we mark the 10^th year of this global initiative, FPSB and our Network are pleased to highlight the many ways CFP professionals can help people make informed decisions, improve their financial wellbeing and plan for the future.”

FPSB will mark World Financial Planning Day with the release of new global findings from its 2026 Impact of Artificial Intelligence on Financial Planning study. The research explores how artificial intelligence is shaping the way consumers engage with financial information and how financial planners are using AI to improve efficiency and better serve clients, while reinforcing the importance of professional judgment, ethical responsibility and human understanding in financial planning.

Activities around the world

Across Brazil, Canada, Chinese Taipei, Germany, Hong Kong, India, Italy, Japan, Thailand, U.S. and Vietnam, World Financial Planning Day will be celebrated through activities designed to help people better understand the benefits of financial planning, including:

• Pro bono financial planning clinics
• In-person and virtual financial education webinars, panel discussions and videos
• Release of new findings from FPSB’s 2026 Impact of AI on Financial Planning global research
• Media and social media initiatives to raise awareness of the value of financial planning

More details of these activities are available on the World Financial Planning Day website.

New videos showcase the value of financial planning

New this year, FPSB has released videos featuring CFP professionals sharing how financial planning can support people and help them recognize benefits they may overlook. The videos explore two questions: How does financial planning help people in their everyday lives? and What’s one benefit of financial planning people often overlook?

Get involved

Individuals are invited to take part in World Financial Planning Day activities and explore resources to understand how financial planning can help them achieve their goals. More information is available on worldfpday.org and worldinvestorweek.org, and by joining the #WFPD2026 and #IOSCOWIW2026 conversations on FPSB’s social media channels.

At the Eastern Economic Forum 2026, Rosatom representatives took part in a session dedicated to international cooperation in the Arctic

Moscow, Sept 22: At the session “International Cooperation in the Arctic: From Strategic Dialogue to Joint Projects” at the Eastern Economic Forum, Vladimir Panov, Director for the Development of the Northern Sea Route (NSR) and the Arctic and Director of the Arctic Directorate of the Rosatom State Corporation, presented a strategic vision for the development of the Northern Sea Route in today’s reality. Emphasizing the Arctic route’s competitive advantages for international shipping, he noted the route’s geographic and geopolitical stability.

” Predictability is critical for any business, and the events of the last year have brought security to the forefront. The NSR route runs along the borders of just six countries, and the fact that Russia is responsible for security along 70% of its length creates a unique competitive advantage ,” said Vladimir Panov.

The effectiveness of the system built by Rosatom State Corporation is confirmed by real economic indicators: container shipments along the NSR increased 2.5-fold last year, and another significant increase is predicted for this year. Following their Chinese partners, who have upgraded their pilot routes to regular service, South Korea is already operating its own pilot route, and India will join the route next year. To consolidate this success, Rosatom is moving to the next strategic stage: concluding long-term contracts with shipping companies, for which balanced financial and economic models are already being developed.

Alongside logistics, technological and infrastructure projects are being actively implemented. A joint venture with the Chinese company New New Shipping Line is underway to develop the world’s first high-ice-class container ships. These could be the first vessels of their kind to be built.

In conclusion, Vladimir Panov noted the Arctic’s high potential as a space for developing both individual initiatives and implementing projects jointly with international partners. ” The Arctic Council was formed on a geographical basis. And the new international format, for which all the necessary conditions have been created, based on pragmatism and economics, creates the preconditions for the emergence of a new international organization ,” he said.

For reference:

The Northern Sea Route is Russia’s main shipping route in the Arctic, stretching over 5,600 kilometers. It is part of the Trans-Arctic Transport Corridor (TTC). Travel time along the NSR from Asia to Europe is approximately 21 days, 1.5 times faster than via the Suez Canal (approximately 31 days). In recent years, the route has been developing dynamically: cargo traffic along the NSR has consistently exceeded 37 million tons over the past two years, and a new record for cargo volume is planned for 2026. Interest in international transit along the NSR is growing: during the 2025 summer-fall navigation season, 400,000 tons of containerized cargo passed along the route—2.3 times more than in 2024 (176,000 tons).

The Trans-Arctic Transport Corridor is a new international route being created at the direction of the President of the Russian Federation following the Murmansk Forum. The TTC will improve the efficiency and competitiveness of logistics by leveraging synergies from the integration of rail, road, river, and maritime infrastructure into a single complex linked to the NSR. The advantages of the TTC have also been recognized in other countries, and international container traffic along the NSR is growing: 7 container shipments were made along the NSR in 2023, 14 in 2024, and 24 in 2025.

The Eastern Economic Forum (EEF) is a key international platform for discussing the investment potential of the Russian Far East, presenting new projects, and exploring business conditions in the advanced development territories. Established by decree of Russian President Vladimir Putin on May 19, 2015, the EEF is held annually. It has become an effective platform for strengthening cultural and economic ties with countries friendly to Russia. The event is operated by the Roscongress Foundation.

The comprehensive development of the Russian Arctic zone is one of the state’s strategic priorities. Increasing the volume of traffic along the NSR is paramount to achieving the stated objectives in transportation and cargo delivery. The development of this logistics corridor is supported by establishing regular cargo transportation, building new nuclear-powered icebreakers, and modernizing the associated infrastructure. Rosatom State Corporation enterprises are actively participating in this effort.

M Group selects HCLTech for AI-led IT transformation across over 200 locations

LONDON and NOIDA, Sep 22: HCLTech, a global technology company, has been selected by M Group, the essential infrastructure services provider in the UK and Ireland, to modernize and transform IT operations across its 200-plus locations.

Through AI-led managed services spanning infrastructure and end-user operations, HCLTech will deploy its AI Force service transformation platform to streamline M Group’s IT landscape, strengthen resilience and build a scalable digital foundation for growth. The program will also accelerate broader digital transformation across M Group’s water, energy, technology and communications, transport, and defense, industrial and public sector business lines.

“Technology is critical to helping our people deliver essential infrastructure services safely, efficiently and at scale. As we continue to transform M Group, we’re investing in a stronger digital foundation and partnering with HCLTech, a global leader in IT services, to bring a new level of service for every team member in the field and in the office. Together, we’ll enhance the quality, reliability and scalability of our IT operations, helping colleagues work more effectively while supporting innovation and sustainable growth across the business,” said Chloe Anfield, Chief Technology Officer at M Group.

“M Group keeps critical infrastructure running for millions across the UK and Ireland. Being trusted to modernize the IT backbone behind that is a responsibility we take seriously. Our teams bring deep experience in complex, multi-site environments and we are committed to ensuring M Group’s technology keeps pace with the demands of the sectors it serves,” said Ajay Bahl, Chief Growth Officer and Global Head, Energy and Manufacturing at HCLTech.

This win extends HCLTech’s track record in essential infrastructure, an environment where operational continuity and regulatory compliance leave little margin for error and marks a significant deployment of AI Force at scale across a multi-sector services business.