The Brief: Asia's economy, 25 September 2026

Economies

US Mortgage Rates Exceed 7% to Two-Year High: The contract rate on a 30-year fixed mortgage reached 7.12% last week, marking the highest point since May 2024 and dampening home financing applications.

India Inc profits slide, FPIs pull out amid West Asia conflict: Foreign portfolio investors withdrew ₹60,847 crore from India in H1 FY27, as rising oil prices and a lack of AI investment opportunities impacted corporate earnings.

Philippines BIR publishes e-invoicing policies, 2026 compliance: The Philippine Bureau of Internal Revenue (BIR) published its implementing policies for electronic invoicing, requiring most businesses to comply by year-end 2026.

Philippines to halve retail bond volume as funding options widen: The Bureau of the Treasury plans to raise less than half of last year's amount from its upcoming retail treasury bond sale, considering alternative financing for the remainder of 2026.

South Korea seeks Mexico tax relief for 562 firms: National Tax Service Commissioner Lim Kwang-hyun highlighted value-added tax refund delays and double taxation in talks with Mexican tax chief Antonio Martinez Dagnino this week.

Markets

Accelya Solutions Leads Indian IT Dividend Yields for FY26: Accelya Solutions India recorded an 8% dividend yield for the 2026 fiscal year, surpassing major Indian IT firms like TCS and Infosys, despite an 11% decline in the Nifty IT index this year.

HKU, Gobi Partners Seek New Funding for HK Tech Startups: A joint delegation from the University of Hong Kong and Gobi Partners visited Astana and Tashkent, engaging with venture capital funds to identify new financing structures for Hong Kong's technology startups.

Singapore's Clifford Capital secures $802.4m in oversubscribed IABS issue: The Bayfront IX offering was two times oversubscribed, showing strong investor demand for infrastructure debt across Asia and globally.

India's RBI sets T-bill yields up to 6.0895% at latest auction: The Reserve Bank of India fully allocated ₹24,000 crore in short-term government debt across three tenors on 23 September, with the 364-day bills yielding 6.0895%.

Banking & Fintech

RBI Fines KLM Axiva Finvest ₹2.70 Lakh for Auction Rule Breach: India's central bank penalised the non-banking financial company (NBFC) for failing to return surplus funds to borrowers after auctioning pledged gold.

Industries

Persona AI deploys humanoids in Korean heavy industry: Houston-based Persona AI partners with HD Hyundai and Posco to integrate bipedal robots into shipyards and steel mills, addressing severe labour shortages.

Globe, Grab expand prepaid fibre WiFi to major Philippine cities: The service allows customers in Metro Manila, Cebu, and Davao to order 300 Mbps internet via GrabMart, with installation possible in two hours.

Oracle Restructuring Costs Hit US$2.8 Billion Amid AI Push: The tech giant increased its restructuring programme by US$700 million, targeting operational efficiency and significant capital expenditure for cloud and AI infrastructure.

VinSpeed Secures €1 Billion Siemens Mobility Rail Deal: The Vietnamese rail firm will acquire high-speed locomotives for new lines connecting Hanoi to Ha Long and Ho Chi Minh City's Ben Thanh to Can Gio, with operations projected for 2028.

Simba confirms spectrum breach, Tuas Ltd profits triple despite M1 deal failure: Singapore telco Simba, a unit of Tuas Ltd, cited hardware issues for exceeding spectrum limits, as its parent company's net profit rose 277% to S$26 million for the year.

SM Prime opens new maritime museum at MOA Complex: The 9,000-square-metre Museo del Galeón, featuring a full-scale 17th-century ship replica, aims to boost cultural tourism in the Philippines.

Wealth

DragonFi first Philippine broker for global equities via SEC sandbox: The brokerage, a DoubleDragon Corp. unit, will allow investors to access foreign stocks and ETFs through an over-the-counter depositary receipt model under regulatory supervision.