Russia has assigned PSB, a military-linked bank under Western sanctions, to manage accelerated state property sales. A new decree mandates asset valuations within 10 days of signing a contract and speeds up property rights registration. The government aims to raise 100 billion INR this year and up to USD 12 billion by 2030, including part of the USD 50 billion in seized assets. These measures follow Western company exits, expropriations, and state seizures, with officials citing "unfriendly" actions by the U.S. and its allies as the reason.Read more

Fermi, a Texas-based REIT co-founded by Rick Perry, raised USD 682.5 million in its U.S. IPO, selling 32.5 million shares at USD 21 each and achieving a valuation of USD 12.46 billion. The company is developing a large AI data center campus powered by nuclear, solar, and natural gas to serve hyperscale tenants. Strong investor demand led to an increase in IPO size. While still early in operations, with a reported USD 6.4 million loss to date, Fermi aims to deliver up to 11 gigawatts of power by 2038.Read more

Dar Global is set to develop a USD 1 billion Trump Plaza in Jeddah, featuring premium residences, serviced apartments, office spaces, and exclusive townhouses. This is the second Trump-branded development in Saudi Arabia, following Trump Tower Jeddah last year. The project targets high-end buyers and international investors, reflecting growing demand for luxury real estate in the kingdom. Trump Plaza Jeddah aligns with Saudi Arabia's efforts to diversify real estate and hospitality investments and reinforces the role of international brands in shaping Jeddah's urban and luxury property landscape, contributing to the city's position as a growing hub for premium developments.Read more

Armani Group has begun exploring the sale of a minority stake, with informal approaches made to potential buyers, sources told Reuters. Among those approached is French cosmetics giant L'Oreal, which already has a licensing deal with Armani running until 2050. Talks are still at an early stage and could take months to progress, while private equity bidders have not yet been contacted. Rothschild is expected to advise on the transaction, with partner Irving Bellotti also serving on the Armani Foundation board. The move comes just weeks after Giorgio Armani's death, sparking interest in the future direction of one of fashion's most iconic brands.Read more

TotalEnergies is raising USD 950 million by selling a 50% stake in its U.S. solar portfolio to KKR, while retaining the other half of its 1.4-gigawatt portfolio. This move is part of a broader strategy to generate USD 3.5 billion by year-end, offsetting acquisitions that more than doubled its debt in the first half of 2025. At the same time, Total is expanding its natural gas presence by acquiring a 49% stake in Continental Resources' upstream gas fields in Oklahoma, boosting net gas production and securing supply for long-term Asian contracts.Read more

The U.S. Federal Trade Commission has filed a lawsuit claiming Zillow paid Redfin USD 100 million to stop competing in online apartment rental listings. The FTC says the deal reduces competition in a concentrated market, likely increasing advertising costs for larger rental properties and limiting improvements in site usability for renters. Under the agreement, Redfin transferred most of its rental business to Zillow, agreed to stay out of the market for up to nine years, assisted with sales staff hiring, and transitioned its customers to Zillow's platform.Read more

Malaysia is preparing a roadmap to transform its steel industry into a fully green sector by 2050. The plan aims to manage overcapacity, restructure licensing, and prepare for decarbonisation. Measures include clear licensing guidelines, carbon pricing, transparency frameworks, and better access to finance for green and high-value production. The industry faces challenges such as high carbon intensity and a supply-demand imbalance. Malaysia also recommends ASEAN collaboration through shared databases, common decarbonisation pathways, and green steel hubs to improve competitiveness and support sustainable growth in the regional steel market.Read more

Australia's housing market has recorded its fastest growth in a year, driven by interest rate cuts, limited listings, and strong buyer demand. National home prices rose 0.8% to a record A$857,280 (USD 565,462), with Brisbane and Perth seeing the largest gains. Growth has shifted to the middle of the market as borrowing capacity improves. Recent government policies allowing first-home buyers to enter the market with minimal deposits, coupled with a tightening rental sector, suggest sustained upward pressure on prices. Despite steady rates, economic uncertainty and inflation remain factors influencing future market trends.Read more

PsiQuantum has begun construction of a major quantum computing facility in Chicago following a USD 1 billion Series E funding round led by Blue Owl Capital. The site at Illinois Quantum and Microelectronics Park will develop the company's largest intermediate-scale quantum test system, monitored by the Defense Advanced Research Projects Agency. PsiQuantum's photonic-based approach aims to overcome technical bottlenecks faced by competitors. The funding will also support development in Australia and advances in quantum photonic chips, while the project is expected to generate thousands of jobs and attract substantial economic investment.Read more

Fermi, a data center real estate investment trust co-founded by former U.S. Energy Secretary Rick Perry, has increased its U.S. IPO to USD 715 million, selling 32.5 million shares at USD 18-22 each, compared with the previous target of 25 million shares. The increase reflects growing energy infrastructure needs for AI development by companies such as OpenAI and Anthropic. Fermi plans to develop a large energy and data complex powered by nuclear, natural gas, and solar energy. Despite a USD 6.4 million loss since inception, investor interest in AI-related infrastructure remains high.Read more