Day: April 18, 2024

Iran activates air defence systems after reports of explosion

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Iran has activated air defence systems across several provinces, according to official news agency IRNA, after reports that an explosion was heard near the city of Isfahan. Tasnim news agency, which is close to Iran’s elite Revolutionary Guards, reported the explosion. Isfahan is home to a major base for the Iranian military. Flights in Tehran, the capital, and the cities of Isfahan and Shiraz have been suspended, IRNA said. Oil…

China’s diplomats working abroad are about to get ‘very rare’ pay rise, sources say

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Officials working in foreign relations within China would not receive the pay increase, the sources said. It is a substantial raise for Chinese officials and comes as government bodies at various levels are looking to make deep budget cuts. Qin Gang has not been seen in public since June last year. Photo: AP Deng Yuwen, former deputy editor of Study Times, the Central Party School’s official newspaper, said the move could be aimed at trying to stabilise the diplomatic corps after Qin Gang was suddenly removed as foreign minister last…

India election opens as Modi seeks third term in power

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Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. India has kicked off a six-week election, as Indians began going to the polls in a closely watched contest that is expected to return Prime Minister Narendra Modi to another five-year term in power. Modi’s ruling Bharatiya Janata party is seeking a third consecutive victory and an increased majority that would tighten its control over India’s politics, economy and society. His party currently holds just over half of the seats in…

China’s 4 new ‘AI tigers’ – Baichuan, Zhipu AI, Moonshot AI and MiniMax – emerge as investor favourites

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A group of artificial intelligence (AI) start-ups are emerging as China’s best hopes for reaching the frontier of ChatGPT-like technology, as they draw increasing attention from users and investors. Among them, Baichuan is the latest to complete a new round of fundraising. While the start-up told the Post on Thursday that there had been some “discrepancies” in local reporting about the amount raised, several outlets estimated Baichuan’s latest valuation to be at about US$1.8 billion. That puts the Beijing-based company in a league of domestic AI unicorns – start-ups valued…

FBI calls out China for making critical infrastructure ‘fair game’ for cyber operations 

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washington —  Efforts by China-linked hackers to infiltrate computer systems and networks that run key sectors of the U.S. economy — only to lie in wait for an opportunity to strike — appear to predate Chinese cyber operations that sparked warnings by U.S. officials earlier this year. FBI Director Christopher Wray on Thursday said Chinese government efforts to penetrate critical U.S. infrastructure for the purpose of setting up a possible cyberattack go back more than a decade. “China-sponsored hackers pre-positioned for potential cyberattacks against U.S. oil and natural gas companies…

Chinese official criticizes US for its UN votes on Gaza cease-fire

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jakarta, indonesia —  Chinese Foreign Minister Wang Yi criticized the United States on Thursday for its votes on previous United Nations resolutions for a Gaza cease-fire, following talks in Jakarta with his Indonesian counterpart, Retno Marsudi. During the talks, Wang highlighted the importance of maintaining peace and stability in the Middle East, and he called on all parties to exercise restraint in the conflict. “The conflict in Gaza has lasted for half a year and caused a rare humanitarian tragedy in the 21st century. The United Nations Security Council responded…

Lenovo and Alibaba team up to build AI computers, as generative AI race heats up in China

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Lenovo Group, the world’s largest personal computer (PC) maker, is collaborating with Alibaba Group Holding to create a series of artificial intelligence (AI) products, as Big Tech companies in China race to attract more users to their generative AI products. Those products will include PCs that are equipped with semiconductors designed to run generative AI tasks locally, known as AI PCs, as well as other AI-powered devices and enterprise intelligence solutions, according to an announcement by Lenovo during its Tech World event in Shanghai on Thursday. The company has also…

US firms MSCI, BlackRock ‘funnelled’ billions to Chinese companies accused of human rights abuses: panel

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The committee’s leaders – retiring Republican congressman Mike Gallagher of Wisconsin and Democratic congressman Raja Krishnamoorthi of Illinois – did not issue their own statements on the findings. But a press release attributed to the panel said the report examined “the broader US financial industry” while lamenting that the activities it documented were “not illegal” under existing American laws. Republican congressman Mike Gallagher of Wisconsin, an ardent critic of Beijing and its policies, chairs the US House select committee on the Chinese Communist Party, which produced the report. Photo: Reuters…