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Global stock markets find balance amid European equities
News

Global stock markets find balance amid European equities

Global stock markets maintained a sense of equilibrium, with European equities showing resilience, particularly in response to Italy’s decision to allay concerns about a proposed bank profit tax. Meanwhile, the dollar experienced a slight decline as new economic data highlighted shifts in the Chinese economy. As Wall Street opened to mixed sentiments, the Nasdaq and […]

Binance records $90 billion Crypto trade in China amidst ban
Crypto

Binance records $90 billion Crypto trade in China amidst ban

The world’s largest cryptocurrency exchange, Binance, reportedly facilitated a staggering $90 billion worth of cryptocurrency trades in China. Meanwhile, crypto trading has been banned in China since 2021. The transactions, unveiled by the Wall Street Journal on Tuesday, were detailed in internal figures and confirmed by current and former Binance employees. Curiously, this bustling trading […]

China restricts drone equipment exports over US tech tension
News

China restricts drone equipment exports over US tech tension

China placed export limitations on selected drones and drone-related equipment on Monday, citing the need to protect “national security and interests” amid rising tensions with the US over technological access. According to Reuters, the Commerce Ministry announced that on September 1st, there would be limits on some drone engines, lasers, communication devices, and anti-drone systems. A ministry […]

Musk's Starlink challenges China's broadband satellite
Tech

Musk’s Starlink challenges China’s broadband satellite

China has unveiled its ambitious plan to launch thousands of satellites into low-Earth orbit, aiming to provide broadband internet services to millions of people worldwide. However, the project will face a formidable challenge from SpaceX’s Starlink, which already dominates the market with about 55% of functioning satellites in orbit. China’s broadband satellite project, known as […]

Chinese smartphone and electric vehicle manufacturer Xiaomi Corp is set to raise up to $5.27 billion through a top-up share placement. 
News Tech

Xiaomi to concentrate on retail to boost sales

China’s Xiaomi will concentrate on growing its retail sales in India, according to its India president after making significant bets on e-commerce for years. This is as the electronics giant tries to boost smartphone sales after slipping behind Samsung. With 600 million smartphone users, India is one of the fastest-growing marketplaces in the world. In […]

Chinese hackers hack US Commerce chief's emails
News Tech

Chinese hackers hack US Commerce chief’s emails

Secretary of the U.S. Department of Commerce, Gina Raimondo, has become one of several high-ranking Americans whose emails were compromised earlier this year by hackers that Microsoft claims is located in China. In a meeting with Wang Yi on Thursday in Jakarta, Secretary of State Antony Blinken made it clear that any action that targets […]

US, China demand pushes oil prices beyond $83pb
News

Why Microsoft claimed China hacked US government emails

Microsoft has reported that hackers based in China have gotten access to the email accounts of about 25 organizations, including governmental organizations. According to BBC, The software giant has not specified the locations of the government organizations. The secretary of commerce, Gina Raimondo, was reportedly one of those affected by the breach. According to a US Department […]

Huawei revisits 5G phones to overcome US ban - Report
News Tech

Huawei revisits 5G phones to overcome US ban – Report

China’s Huawei Technologies is planning to enter the 5G smartphone market by the end of this year, marking a comeback after a U.S. ban on equipment sales destroyed its consumer electronics sector, according to research firms. According to three independent technological research organisations covering China’s smartphone market, Huawei should be able to obtain 5G chips […]

Chinese businessman launches ChatGPT rival
News Tech

Chinese businessman launches ChatGPT rival

Chinese businessman and founder of Sogou Wang Xiaochuan on Tuesday unveiled a next-generation huge language model Baichuan-13B. Its founder’s illustrious career as a computer science prodigy from Tsinghua University and founded the search engine provider Sogou, which was later acquired by Tencent, Baichuan is being hailed as one of China’s most potential LLM developers. At […]

Apple opens store on WeChat
News Tech

Apple opens store on WeChat

Tencent’s WeChat, has disclosed that Apple, the maker of the iPhone, has created a store on expanding the American company’s retail options in the second-largest economy in the world. WeChat, the most popular messaging app in China that also offers e-commerce, livestreaming, and payment services, announced that customers would be able to purchase Apple items […]

Alibaba considers selling shares to Ant as probe ends
News Tech

Alibaba considers selling shares to Ant as probe ends

Alibaba Group Holding Ltd. is considering selling shares to Ant Group Company as part of the fintech company’s planned buyback. This follows the conclusion of a nearly three-year investigation by financial regulators into the financial technology business. In a stock exchange statement in Hong Kong, Alibaba, which owns nearly a third of Ant, stated that […]

China launches first open-source computer operating system
News Tech

China launches first open-source computer operating system

China has launched OpenKylin, its first domestic open-source desktop operating system, as the country intensifies attempts to reduce its reliance on American technology. China’s version of the open-source Linux operating system, which was made available on Wednesday and is based on the current version, was created by a group of about 4,000 developers and is […]

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