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GITEX Global 2025 returns to Dubai, spotlighting “future-critical sectors” worldwide

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China expands rare earth export controls

just now
Nikkei Asia
China has broadened its export controls on rare earths, imposing new licensing rules on technologies and extending restrictions to overseas firms using Chinese materials or know-how. Effective immediately, the measures tighten oversight of the semiconductor and AI sectors ahead of a planned US–China leaders’ summit, further straining trade relations over critical minerals.

Nvidia gets nod for UAE chip deal

just now
Bloomberg
The US has reportedly approved several billion USD in Nvidia chip exports to the UAE under a new bilateral deal linking UAE investment in the US to technology shipments. The first such permits since 2017 support a 5 GW Abu Dhabi data center anchored by OpenAI and G42, underscoring Washington’s push to strengthen AI ties with the Gulf.

Alipay’s “Tap!” gains traction among tourists

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Ant Group
Alipay said payments by international travelers using its "Tap!" service rose 500% during China’s Golden Week holiday from October 1–5. Launched in June 2024, the QR code-based contactless payment feature allows visitors to pay by scanning or tapping with linked overseas cards, underscoring rising cashless adoption among tourists in China.

Alibaba Cloud to power NBA fan tools

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NBA
NBA China and Alibaba Cloud have launched a multiyear collaboration to enhance fan engagement through AI and cloud technologies. Alibaba Cloud will develop a Qwen-based proprietary model based to deliver real-time highlights, player insights, and interactive experiences across the NBA’s digital platforms in China.

HSBC plans full takeover of Hang Seng Bank

just now
Nikkei Asia
HSBC Asia Pacific has offered HKD 106 billion to take Hang Seng Bank private at HKD 155 per share, a 30% premium to its last close. The deal would make Hang Seng a wholly owned subsidiary while preserving its brand and banking license. Hang Seng shares rose sharply, while HSBC’s fell following the announcement.

VeriSilicon revenue doubles on AI demand

just now
SCMP
VeriSilicon reported record Q3 revenue of RMB 1.28 billion, nearly doubling from the prior quarter as AI-driven demand and China’s semiconductor self-sufficiency push boosted sales. The Shanghai-based chip designer said about 65% of new orders were tied to AI-related computing and that losses are expected to narrow significantly.

Alibaba forms in-house robotics team

just now
Bloomberg
Alibaba Group has set up a robotics and embodied intelligence team within Qwen, its unit for foundational AI models, as it expands into physical AI applications. Executive Justin Lin said the team aims to extend multimodal research into real-world use. The move aligns with CEO Eddie Wu’s outlook on rising global AI investment and the broader robotics push by firms like Nvidia and SoftBank.

Chinese AI researcher quits Anthropic

just now
SCMP
Yao Shunyu, a Chinese AI researcher, has left Anthropic to join Google DeepMind, citing the former's “anti-China statements.” Yao, a Stanford-trained physicist and Tsinghua University graduate, said Anthropic’s decision to bar Chinese-affiliated companies and label China an “adversarial nation” made it untenable for him to remain.

China’s new “K visa” sparks backlash

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Dao Insights
China’s new "K visa," introduced on October 1, aims to attract foreign science and technology professionals with flexible entry and extended stays. Critics on social media warned it could reduce opportunities for local graduates in an already tight job market, while officials said it promotes international research and innovation exchange.

ABB sells robotics arm to SoftBank

just now
Bloomberg
SoftBank Group will acquire ABB’s industrial robotics unit for about USD 5.4 billion, strengthening its AI and automation strategy. The unit, employing over 7,000 and supplying BMW and others, expands SoftBank’s robotics portfolio under its new Robo HD holding. ABB plans to focus on electrification and M&A after the sale, due to close in 2026.

Valtor raises pre-seed funding

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Valtor
Valtor Solutions, a construction sourcing startup based in the Philippines, has raised USD 700,000 in a pre-seed funding round led by Wavemaker Impact. The company integrates supplier vetting, logistics, and design services to help developers source sustainable materials faster and at lower cost. Valtor plans to launch its AI-powered BOQ (bill of quantities) platform in October to expand across Southeast Asia.

Optics maker Innolight eyes Hong Kong IPO

just now
Bloomberg
Zhongji Innolight, a maker of optical communication modules, is exploring a Hong Kong listing, according to people familiar with the matter. The company’s Shenzhen-listed shares have more than tripled this year, giving it a market capitalization of about RMB 450 billion. The potential move would add to a wave of mainland firms seeking funds in Hong Kong.

SAIC sales rise 40.4% in September

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Jiemian News
SAIC Motor sold 440,000 vehicles in September, up 40.4% YoY, maintaining its lead in China’s automotive market. Wholesale volumes for the first nine months rose 20.5% to 3.19 million units. Sales of self-owned brands grew 50.4%, new energy models 46.5%, and overseas markets 12.2%, reflecting broad-based growth across key segments.

xAI lifts funding target to USD 20 billion

just now
Bloomberg
Elon Musk’s xAI is expanding its ongoing fundraising round to USD 20 billion, with investors including Nvidia, Apollo Global Management, and Diameter Capital Partners, according to people familiar with the matter. The financing, structured through a special purpose vehicle, will fund Nvidia processors for xAI’s Colossus 2 data center in Memphis.

Tesla rolls out lower-priced EVs amid slump

just now
CNBC
Tesla has unveiled lower-priced standard versions of its Model Y SUV and Model 3 sedan, both priced below USD 40,000, alongside an update to its supervised FSD system. Shares slipped after investors hoping for new model announcements were disappointed. The move comes as Tesla faces mounting competition and slowing sales.

Anthropic’s China ban seen as low impact

just now
SCMP
Anthropic’s new ban on China-backed entities using its AI models is expected to have limited impact on the mainland’s AI development, analysts said. Despite tighter restrictions, users continue to access Anthropic’s Claude models through relay sites, while Chinese firms such as Z.ai and Moonshot AI are moving to capture displaced users.

Mixue takes majority stake in Fulujia

just now
Nikkei Asia
Mixue Group, which operates China’s largest beverage chain, will spend RMB 297 million to acquire a 53% stake in Fulujia, the operator of Fulu Fresh Beer bars. The deal marks Mixue’s entry into draft beer, widening its customer base beyond younger drinkers as it diversifies from fruit teas and coffee into new beverage categories.

Nigeria eyes China funding for “super grid”

just now
Bloomberg
Nigeria is in talks with the Export-Import Bank of China for a USD 2 billion loan to build a new “super grid” linking the country’s eastern and western regions. The cabinet-approved project aims to ease power shortages and attract industrial users back to the national grid as part of wider energy sector reforms.

China widens lead in clean tech exports

just now
Bloomberg
China has pulled ahead of the US in the global energy export race, shipping USD 120 billion in clean technologies through July compared with USD 80 billion in US oil and gas exports. Driven by demand for EVs, solar panels, and batteries, China’s record USD 20 billion in August exports underscores its growing dominance in clean energy trade.

Tesla hints at possible new model

just now
Tesla
Tesla shares rose after the company posted teaser videos on X showing a car's components and headlights, ending with “10/7.” The posts reignited speculation over whether CEO Elon Musk will unveil the next-generation Roadster or a lower-cost model aimed at broadening mass market appeal.
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