UAE Launches First National Payment System, a Rival to Visa and Mastercard
The Central Bank of the UAE, through its subsidiary Al Etihad Payments, has begun rolling out the Jaywan card — the country’s first national payment system, set to sit alongside Visa and Mastercard. Eleven financial institutions have already signed on to issue the cards, including FAB, ADCB, Emirates Islamic, and Citi, while Network International has enabled payment acceptance across thousands of merchants nationwide. The project’s main goals are to reduce reliance on foreign payment networks, keep transaction data within the country, and lower card servicing costs for banks and merchants. The system is expected to eventually offer card acceptance in more than 100 countries worldwide.
Russia Signs Its First Law on Artificial Intelligence
Vladimir Putin has signed a law «On Supporting the Development of Artificial Intelligence Technologies» — Russia’s first regulatory act governing the development and use of large neural networks. The document introduces the concepts of «sovereign» models, which must be developed by Russian companies at every stage of their life cycle, and «national» models, which may incorporate foreign components and open-source solutions. The law permits the use of copyrighted works to train AI systems, provided access to them was obtained lawfully. In addition, owners of major online platforms will now be required to label content generated by AI.
Russia-China Trade Turnover Grew 26% in the First Half of 2026
Russia-China trade turnover reached $134.2 billion in the first half of 2026, up 26% year-on-year, according to data from China’s General Administration of Customs. Russian exports to China rose 23% to $73.6 billion, with oil accounting for nearly half of all shipments. Imports from China grew 28% to $60.6 billion, driven mainly by rising shipments of passenger cars and cross-border e-commerce goods. Russia’s trade surplus with China held at around $13 billion, while the structure of trade remained asymmetric — raw materials in exchange for finished industrial goods.
India to Issue Plastic Banknotes for the First Time
The Reserve Bank of India (RBI) has received government approval for a pilot issuance of plastic banknotes in the 10 and 20 rupee denominations — a total of 2 billion notes worth around 30 billion rupees. There are no plans to replace paper currency: the polymer notes will circulate alongside regular ones, with the trial meant to test their durability and counterfeit resistance. The smaller denominations were chosen because they wear out fastest, accounting for nearly a quarter of all banknotes in circulation. Polymer notes are already in use in Australia, Canada, the UK, and several other countries.
Guggenheim Abu Dhabi to Open December 11, 2026, 15 Years After Construction Began
The Guggenheim Abu Dhabi, designed by Frank Gehry, will open to the public on December 11, 2026, on Saadiyat Island. Construction began in 2011 but was suspended for several years, resuming only in 2019. The museum will become the fourth and largest venue in the global Guggenheim network, with a total built area of 80,000 square meters and an architectural composition of ten sculptural cones up to 88 meters tall surrounding thirty galleries around a central atrium. The project completes the cultural district on Saadiyat Island, alongside the Louvre Abu Dhabi and the Zayed National Museum, on which the emirate has spent billions of dollars.
