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Jack Dorsey has launched Bitchat, a peer-to-peer messaging app that reportedly operates over Bluetooth mesh networks with no internet, servers, or use…

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Deals in brief: East Ventures invests in Sxored, Shieldbase and Transcelestial raise funding, HeySara enters Hong Kong with ILS acquisition, and more

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Jack Dorsey has launched Bitchat, a peer-to-peer messaging app that reportedly operates over Bluetooth mesh networks with no internet, servers, or user data. Now in beta, the app supports encrypted, ephemeral chats and group rooms, expanding Dorsey’s push for off-grid, censorship-resistant communication.

<a href="/company/bytedance">ByteDance</a> has denied reports that it agreed to sell TikTok’s US operations to an Oracle-led American consortium, calling the claims inaccurate. Any such deal would require approval from both the US and Chinese governments, with a US-imposed deadline set for September 17.

US President Donald Trump has announced 25% tariffs on goods from Japan and South Korea, and up to 40% on imports from a dozen other nations, effective August 1. The move, framed as an economic emergency, drew criticism from trade allies and rattled markets amid recession fears.

Amid trade frictions with the US, China is turning to inland regions like Guizhou as industrial backup zones. The mountainous province is attracting investment in aviation, data infrastructure, and relocated manufacturing, backed by central support under a new “strategic hinterland” initiative tied to China's next five-year plan.

The Chinese government has pledged to curb disorderly price competition in its solar panel industry and guide weaker producers toward exit or restructuring. The move comes amid falling prices and rising losses from overcapacity, threatening the viability of a industry where China holds over 80% of global capacity.

Sxored, a Jakarta-based credit tech startup, has raised funding from East Ventures to expand its <a href="/industry/ai">AI</a>-powered platform for credit document analysis. The system uses OCR and machine learning to detect fraud, extract borrower data, and appraise collateral, aiming to cut costs and improve accuracy for lenders. Ten pilot programs are said to be underway.

Hikvision is seeking a judicial review of Canada’s June 27 order requiring it to cease operations on national security grounds. Its Canadian unit has resumed business under a temporary agreement with the attorney general while the court considers its motion to stay the order.

J&amp;T Express reported a 23.5% YoY rise in Q2 parcel volume to 7.39 billion. Southeast Asia led with a record 65.9% growth, driven by <a href="/industry/e-commerce">e-commerce</a> partnerships and infrastructure expansion. China and new markets also posted double-digit gains as the company scaled its global logistics network.

Huayou Cobalt expects H1 2025 net profit to reach RMB 26–28 billion, up 55.6–67.6% YoY. The outlook reflects stronger cobalt prices, operational restructuring, and cost-efficiency improvements under its integrated production strategy.

<a href="/company/huawei">Huawei’s</a> Noah Ark Lab has rejected claims that its Pangu Pro MoE model copied from <a href="/company/alibaba">Alibaba’s</a> Qwen 2.5 14B. The allegations, made by an anonymous group called HonestAGI in a GitHub paper, cited strong similarities and potential copyright violations. Huawei said the <a href="/industry/ai">AI</a> model was independently developed on its Ascend chips and complies with open-source rules.

China is considering expanding its Southbound Bond Connect quota to RMB 1 trillion, including a new annual allotment for non-bank financial institutions, according to sources. The move would broaden access to offshore bonds via Hong Kong and support Beijing’s push to ease capital controls.

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Focused on safety and affordability, the Chinese firm aims to address gaps in general aviation with its certified piston and hybrid engines.

Falcon Aviation eyes liftoff with low-cost, airworthy aircraft engines

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Better-than-expected earnings in Greater China fuel optimism as Nike revamps its product lineup and retools its brand for growth.

Jack Dorsey launches offline chat app Bitchat

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Deals in brief: East Ventures invests in Sxored, Shieldbase and Transcelestial raise funding, HeySara enters Hong Kong with ILS acquisition, and more

Falcon Aviation eyes liftoff with low-cost, airworthy aircraft engines

Nike rallies behind “Sport Offense” strategy after surprise fiscal year showing