Banking and Finance

BRICS adopted the New Delhi Declaration (2026), positioning itself as a champion of the Global South with an ambitious blueprint for reforming international financial institutions and trade architecture. The declaration, framed around resilience, innovation, cooperation, and sustainability, also faces operational snags in its implementation.

Property investors may pay less capital gains tax under Labor's reforms, according to new analysis.

The OECD has downgraded its forecast for UK economic growth next year to 1% from a previous estimate of 1.1%, citing the ongoing US-Israel war in Iran and higher fuel prices. However, it upgraded its prediction for 2026 to 1.1% from 0.9% due to solid domestic demand. The conflict has pushed up oil and gas prices globally, contributing to higher inflation in the UK and other countries.

Wegagen Bank reported a profit before tax of 4.3 billion birr for the 2025/26 fiscal year, a 12 percent increase from the previous year. The bank's total assets rose 32 percent to 111.3 billion birr, deposits grew 23 percent to 81.3 billion birr, and its digital lending platform disbursed over 9 billion birr to more than 430,000 borrowers. Earnings per share declined to 34.40 percent from 46.10 percent as paid-up capital expanded 44 percent to 10.09 billion birr.