News related to
President

China’s gross domestic product grew 4.5% year on year during July to September, exceeding economists’ forecast of 4.4% and accelerating from 4.3% in the preceding quarter, according to the National Bureau of Statistics.

Bitcoin briefly climbed towards $82,500 as cryptocurrency traders responded to the stronger economic figures and improving conditions in traditional financial markets. Nasdaq futures also advanced, reflecting renewed demand for technology shares following a difficult period for companies associated with artificial intelligence.

The market recovery was uneven, however. South Korea’s Kospi faced selling pressure after an initial improvement, highlighting continuing concerns about technology valuations and the substantial financing requirements of artificial intelligence development.

US Nasdaq futures gained approximately 1% during Asian trading, while contracts tracking the broader S&P 500 advanced around 0.7%. Lower energy prices provided additional support as investors assessed their implications for inflation, corporate earnings and borrowing costs.

China’s economic figures offered a measure of reassurance about activity in the world’s second-largest economy. Quarterly output increased 1.2% from the preceding three months, exceeding expectations for a 1.1% expansion and improving from 0.9% growth during April to June.

The stronger performance was supported by exports and industrial production, although weaknesses in household consumption and property investment continued to complicate the economic outlook.

Official figures showed industrial production increasing 5.5% year on year in September, compared with 5.2% in August. Retail sales grew 1.1%, indicating modest improvement in consumer spending despite persistent pressure on household confidence.

China’s government has established an annual economic growth target of approximately 4.5% to 5%, making the third-quarter performance significant for policymakers considering whether further stimulus measures are necessary.

Growth during the first nine months reached 4.6%, according to official estimates, keeping the economy within reach of the government’s full-year objective.

Financial markets nevertheless remained sensitive to concerns that China’s expansion depends heavily on exports and industrial investment rather than sustained improvements in domestic demand.

The property sector remained a particular concern, with investment continuing to contract despite measures intended to support homebuyers and stabilise developers.

Oil markets supplied another important influence on trading. Brent crude futures declined approximately 1.7% to $107.95 a barrel, while US crude futures slipped 0.8% to $100.62.

The decline followed developments surrounding Washington’s sanctions policy towards Russia. President Donald Trump indicated that restrictions could be eased, potentially allowing additional Russian energy supplies into international markets, although the administration had not finalised its position.

US Secretary of State Marco Rubio indicated that the administration could take up to 60 days to assess the economic consequences of changing sanctions arrangements.

Lower crude prices helped ease immediate concerns about inflation, particularly because energy costs influence transport, manufacturing and household expenditure across major economies.

US government bonds strengthened as yields declined. The benchmark 10-year Treasury yield fell approximately four basis points to 5.0525%, providing some relief to financial markets concerned about elevated borrowing costs.

Expectations surrounding Federal Reserve policy remained important for cryptocurrency investors. Lower inflation could eventually create additional room for monetary easing, although policymakers face competing pressures from energy markets and economic activity.

The Federal Reserve’s benchmark interest rate currently stands between 4.75% and 5%, with financial markets expecting policymakers to leave borrowing costs unchanged at their next meeting.

Across Asian equities, the initial advance reflected bargain hunting following substantial losses in technology stocks. Japan’s Nikkei and South Korea’s Kospi both experienced volatile trading as investors reassessed exposure to semiconductor manufacturers.

Concerns about artificial intelligence spending remained prominent. Goldman Sachs estimates that five major technology companies could increase their combined capital expenditure to approximately $1.2 trillion next year, raising questions about investment returns.

China’s currency strengthened against the dollar, with the yuan reaching approximately 6.6828, its strongest level since July 2022.

Gold traded around $4,181 an ounce, supported by declining bond yields, while the dollar remained under pressure against several currencies.

Elsewhere, European equity futures weakened amid political uncertainty in France, demonstrating the differing regional influences on international investment flows.

Chinese blue-chip shares edged lower after initially benefiting from the economic figures, with investors continuing to assess whether stronger industrial activity would translate into a sustained improvement in domestic consumption.

https://youtu.be/6Zoz_hxLRxk?si=948OAjqPhndVNE7J

In China, AITO has earned the trust of over 1.2 million customers. Globally, in Brand Finance’s Automobiles 100 2026 ranking, AITO ranked among the world’s top 10 luxury automotive brands and was the No.1 Chinese luxury automotive brand by brand value, making it the only Chinese automotive brand.

Driven by its philosophy of “Intelligence Redefining Luxury”, AITO is committed to bringing together traditional luxury and technological luxury to create an elevated intelligent mobility experience.

“AITO stands for ‘Adding Intelligence to Auto’. We believe a vehicle should be a mobile intelligent agent that understands you and responds to your needs. That is why we introduced our brand philosophy, Intelligence Redefining Luxury. It is our interpretation of what New Luxury means for AITO,” said Clifford Kang, Board Member and Vice President of SERES Group. “We come with deep respect for Europe’s automotive heritage. We come to collaborate and grow with partners around the world. And we come with our philosophy: Intelligence Redefining Luxury.”

As AITO strengthens its global presence, it looks forward to working with partners across the value chain to build a healthy automotive ecosystem, foster mutual growth and bring intelligent luxury mobility to more customers around the world.

Hashtag: #AITO

The issuer is solely responsible for the content of this announcement.

Vishnu Vardhan Reddy, Consul General of India in Dubai and the Northern Emirates, said innovation, renewable energy, defence and space technology could contribute to the next phase of economic expansion. He was addressing the Innovators and Investors Series organised by the Indian People’s Forum on October 16.

The proposal comes as both governments pursue a target of $200 billion in bilateral trade by 2032. Trade reached $101.25 billion during India’s 2025-26 financial year, exceeding $100 billion for a second consecutive year, according to official figures.

Reddy urged businesses and investors to establish partnerships capable of taking emerging enterprises into international markets. Investment in technology businesses, he argued, could create additional commercial activity while linking the UAE’s capital providers with enterprises developing products and services in India.

His remarks were an assessment, not a new government commitment or forecast backed by contracts. Achieving the target would require substantial expansion across multiple sectors, including those already accounting for the largest share of bilateral commerce. The $200 billion figure is a bilateral merchandise trade ambition, not a valuation of technology investments or start-up fundraising.

India’s exports to the UAE totalled approximately $37.36 billion in 2025-26, while imports were about $63.89 billion. The UAE remained India’s third-largest trading partner and second-largest export destination. India was the UAE’s second-largest trading partner, according to diplomatic trade data.

The technology emphasis follows a September meeting of the UAE-India High Level Joint Task Force on Investments, where officials agreed to advance work on local-currency settlement, payment-system integration and central-bank digital currencies. Those initiatives are intended to make financial transactions and cross-border commerce more efficient. Officials also discussed cooperation in financial infrastructure, an area where payment interoperability could lower friction for businesses operating in both markets.

The task force also examined investment proposals involving manufacturing, food processing and logistics. Projects discussed included an integrated aluminium complex proposed for Odisha, a food park in Gujarat and opportunities for aviation and logistics development at Dholera.

At the Dubai forum, speakers called for greater participation by UAE investors in start-ups seeking financing, commercial partnerships and access to international customers. The gathering connected entrepreneurs with businesses and potential financial backers.

Two enterprises, JE Plus Healthcare and University Living, presented their business models. JE Plus Healthcare focuses on distribution and logistics for healthcare products, while University Living provides accommodation services for students studying away from home. Both were seeking investment to expand their operations. Their presentations illustrated the range of businesses seeking support, from physical supply chains to digital services for international customers.

Actor and investor Vivek Oberoi told participants that unsuccessful investments were part of entrepreneurship and that investors needed to recognise the lessons associated with business failures. He said he had invested in 35 companies, with mixed results across his portfolio.

Jitendra Vaidya, national president of the Indian People’s Forum, said stronger two-way investment could support commercial ties between the countries. The organisation’s business representatives encouraged investors to examine opportunities in technology, artificial intelligence, machine learning and robotics.

Mahesh Advani, convenor of the forum’s business council, urged UAE investors to consider start-up financing. Piyush Jhunjhunwala, co-convenor of its business and professional council, identified technology-led businesses as a potential destination for private capital.

Figures circulated at the event described a substantial start-up and venture investment ecosystem in India, including companies operating in financial services and advanced technology. However, the figures covered different categories of businesses and financing activity, making direct comparisons difficult without consistent definitions and reporting periods.

The bilateral trade framework rests on the Comprehensive Economic Partnership Agreement, which entered into force in May 2022. It reduced trade barriers across numerous product categories and provided a platform for wider business cooperation. Trade volumes nevertheless remain sensitive to energy prices, demand conditions and changes in the composition of imports and exports.

Government initiatives now include Bharat Mart, intended to support access to markets, and a Virtual Trade Corridor designed to simplify trade processes. Both form part of efforts to improve the movement of goods and information between the two economies.

The Dubai forum was organised by the Indian People’s Forum, a community organisation that also conducts business and professional networking activities in the UAE.

To watch the video: https://www.chinadaily.com.cn/a/202610/16/WS6ad1f5d7e4b06d4aa05633a1.html

Social Media Account: https://x.com/ChinaDaily

The issuer is solely responsible for the content of this announcement.

By Rahil Nora Chopra The Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Thursday requested President Droupadi Murmu to ask the Union Government to reconsider Dushyant Gautam’s appointment as Sikkim governor and defer his assumption of office until the CBI completes its investigation into the alleged VIP angle in the 2022 murder of […]

The article Rahul Urges President Murmu To Reconsider Sikkim Gov’s Appointment appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Japan’s foreign ministry confirmed on Thursday that the initial project would cost approximately $10 billion, with construction scheduled to begin before the end of 2026. Expansion of production facilities could eventually raise the total investment to about $21 billion, although the second factory remains conditional.

The agreement forms part of a $550 billion Japanese investment commitment negotiated with President Donald Trump’s administration in 2025, alongside a reduction in American tariffs on Japanese vehicles and other imports to 15 per cent.

GlobalFoundries said the first manufacturing plant at its existing Malta campus would begin production in 2029. An additional investment of approximately $10 billion would finance a second facility, with a decision on that expansion expected before the end of 2028.

Japan will supply the investment capital, while GlobalFoundries will provide manufacturing technology, technical expertise and operational management. The factories will be jointly owned by American and Japanese interests under an arrangement intended to expand semiconductor output without requiring the company to finance construction itself.

The first plant is expected to produce approximately 900,000 silicon wafers measuring 300 millimetres annually when fully operational. A second plant would add comparable capacity, substantially increasing the company’s manufacturing footprint in upstate New York.

GlobalFoundries estimates that the initiative will support approximately 27,000 construction and associated supply-chain jobs, alongside more than 1,000 skilled manufacturing positions in New York’s Capital Region. Those figures are projections rather than employment already created.

The US Commerce Department will separately receive an equity interest of approximately four per cent in GlobalFoundries. Chief executive Tim Breen said the transaction would raise the government’s overall holding to about seven per cent. The company is majority owned by Abu Dhabi’s Mubadala Investment Company.

GlobalFoundries shares advanced after the announcement, reflecting investor interest in an expansion model that could increase manufacturing capacity while limiting construction expenditure.

The ownership arrangements distinguish the investment from conventional private-sector semiconductor expansion. Japanese financing will underpin the factories, while the American government will gain a larger financial interest in the operator and participate in the broader manufacturing initiative.

GlobalFoundries also agreed with the Commerce Department to revise an existing award under the CHIPS and Science Act, reallocating $955 million towards investments in silicon photonics, silicon-germanium technology and advanced packaging at facilities in Malta and Burlington, Vermont.

These technologies are used in communications systems and data centres, where manufacturers are seeking faster connections and more efficient processing of large volumes of information. The separate funding revision does not represent an additional Japanese commitment to the two factories.

Japan’s foreign ministry described the New York project as the first semiconductor investment under the bilateral Strategic Investment Initiative announced in September 2025. It said the initiative was intended to strengthen supplies of mature-node chips used in automobiles, industrial machinery, smartphones and artificial intelligence data centres.

Although attention has focused heavily on advanced processors for artificial intelligence, mature-node semiconductors remain essential components in vehicles, industrial equipment and connected devices. Their availability is important to manufacturers seeking more geographically diversified supply chains.

The first facility will be built at an established semiconductor manufacturing location, allowing the investment to draw on existing industrial infrastructure and a local workforce. However, the announced timetable does not mean projected production capacity will be available immediately when operations begin.

Breen said GlobalFoundries had been chosen because large fabrication projects required manufacturing expertise and operational capabilities alongside financing. US Commerce Secretary Howard Lutnick welcomed the investment as a contribution to domestic manufacturing and employment.

The Japanese government expects the project to create commercial opportunities for its semiconductor equipment and materials suppliers. Tokyo Electron and SCREEN Holdings have expressed interest in supplying manufacturing equipment, while Tokyo Ohka Kogyo has indicated interest in materials and components.

Renesas Electronics, a major Japanese chipmaker supplying automotive and industrial customers, has expressed interest in purchasing output from the proposed facilities. Its participation could provide an important customer relationship as production plans advance.

Japan’s foreign ministry also identified smaller suppliers, including Fujikin and Kusakawa Seiki, as potential participants in the equipment and materials supply chain. Their involvement remains prospective, rather than a confirmed allocation of orders.

https://youtu.be/sbUyQWx8ItQ

The event was opened by Tin Pei Ling, Member of Parliament, and Dato’ Tony Khor Chong Boon, President of the Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM). Through keynote presentations, panel discussions and live technology demonstrations, participants examined how AI-driven solutions can improve customer experiences while ensuring transparency, security and responsible decision-making.

AIMCONNECT 2026 Highlights the Shift Towards Connected Mobility

During the keynote address, “The Next Mobility Economy: Intelligence, Connection, Trust,” X Star Technology CEO Shawn Yang highlighted the growing gap between consumers’ digital engagement and completed automotive transactions.

Shawn Yang noted that consumers increasingly begin their vehicle purchase journey online, with research showing strong demand for AI-supported decision-making. According to figures shared during the keynote, 90% of car buyers conduct online research before visiting dealerships, 63% expect to use AI during their next vehicle purchase and 67% believe AI will influence their financing decisions.

However, the automotive journey remains fragmented. Customers often move between dealerships, financing providers and multiple systems, creating unnecessary friction during purchasing and ownership processes.

“Customers are not lost in one stage; they are lost to the friction between them,” Yang said. Yang said. The CEO explained that the next stage of mobility innovation requires closer cooperation between automotive companies, financial institutions and technology providers. Rather than improving isolated parts of the journey, the industry must create connected experiences that allow information, decisions and services to move more efficiently between stakeholders.

During AIMCONNECT 2026, technology demonstrations showcased emerging solutions designed to address these challenges. X Star Technology presented its Xport platform, demonstrating one-click lead-to-loan matching and real-time approval capabilities. Aimotion, MStar, AI Wingman and MK.X also introduced their latest innovations, highlighting the potential of AI-enabled tools across the automotive value chain.

Building Trust as AI Takes a Greater Role in Decision-Making

A key theme throughout AIMCONNECT 2026 was the importance of trust as artificial intelligence becomes increasingly involved in customer-facing processes.

While AI can improve speed and efficiency, industry leaders emphasised that technology must operate within clear boundaries. Decisions involving financing, customer eligibility and financial commitments require transparency, human oversight and accountability.

Yang introduced X Star Technology’s proprietary Harness framework, which combines AI operating boundaries, human supervision and traceable data management. The framework is designed to ensure that AI systems operate within authorised parameters while allowing complex cases to be escalated for human review.

“In auto finance, a single flawed decision risks customer harm and regulatory non-compliance. For AI to operate across the customer journey with true autonomy, trust cannot be an afterthought; it must be engineered into the architecture from day one,” Yang said.

The discussions also highlighted the importance of balancing personalisation with privacy. While consumers increasingly expect services tailored to their needs, excessive automation or unnecessary intervention may reduce trust. Effective AI solutions must therefore combine intelligence with appropriate restraint.

Strengthening Connections Across the Auto Finance Ecosystem

Another major discussion at AIMCONNECT 2026 focused on how stronger collaboration between automotive companies, financial institutions and technology providers can create a more efficient and trusted financing experience.

During the panel discussion “Building a Connected Auto Finance Ecosystem,” moderated by MStar CEO Zhang Peng, industry representatives explored the role of data connectivity, cybersecurity and responsible technology adoption in shaping the future of automotive finance.

Speakers from Deloitte, Deutsche Bank, The CEO Circle and JWT Bespoke examined how financial institutions and mobility businesses can use technology to improve decision-making while maintaining customer confidence.

“Better data infrastructure and connectivity can help the industry make more informed financing decisions, but technology must go hand in hand with trust,” Zhang said.

The discussion emphasised that connectivity is not simply about collecting more data. A truly integrated ecosystem requires organisations to establish clear principles for how information is shared, protected and used. Customers must also understand what information they provide and how it contributes to a better service experience.

Matthew Duncan, Director and CEO of JWT Bespoke, highlighted the importance of balancing innovation with consumer protection, drawing from Australia’s experience in automotive and financial regulation.

“Regulation works best when it protects customers and still gives the industry room to improve how people buy and finance their cars,” Duncan said.

Exploring the Future of Vehicle Ownership

Beyond financing and transactions, AIMCONNECT 2026 also examined a broader question facing the mobility industry: how will consumers define vehicle ownership in the future?

The rise of leasing, subscription services, car-sharing and ride-hailing has expanded consumer choices, creating new possibilities beyond traditional ownership models.

During the panel “The Future of Owning a Car,” moderated by Shawn Yang, industry leaders discussed how changing consumer expectations may influence future mobility behaviour.

An audience poll showed a closely divided perspective. While 54% of participants believed flexible mobility solutions could become the preferred choice within the next decade, 46% expected vehicle ownership to remain the dominant preference.

The result reflected the complexity of future mobility trends. Rather than replacing ownership completely, emerging mobility models may provide consumers with more options depending on their lifestyle, financial situation and travel needs.

James Ng, Managing Director of BYD Singapore and President of BYD Philippines, shared insights into BYD’s technology development journey.

“BYD’s first phase was electrification, delivering performance. The second phase is intelligence, using AI to enhance the customer experience. The third phase will focus on integration,” Ng said.

Xiao Ting, CEO of MK.X, noted that increasingly capable AI assistants could change how consumers approach mobility decisions.

“The decision may increasingly be less about owning a car and more about finding the right mobility solution for each journey,” noted the CEO.

Ng also highlighted the broader applications of BYD’s technology beyond vehicles, including Battery Energy Storage Systems (BESS) and renewable energy solutions that contribute to a wider technology ecosystem.

These developments suggest that the future mobility landscape will involve not only automakers, but also dealers, financial institutions and technology platforms adapting their services to meet changing consumer expectations.

AI Is Expanding the Vehicle Experience Beyond the Point of Sale

The role of artificial intelligence throughout the vehicle ownership lifecycle was another key focus at AIMCONNECT 2026.

During the panel “How Is AI Reshaping Mobility?” moderated by X Star Chief Technology Officer Michael Jia, industry experts discussed how AI can support consumers beyond vehicle selection and purchase.

Panel participants included Carson Zhang of Aimotion, Connor Liu of Google Cloud, Dr Harold Teng of MK.X Technology and Bryan Tan of Carro.

When delegates were asked where AI would create the greatest impact, personalised ownership services ranked ahead of vehicle selection, automotive financing and in-car intelligence. The results suggested that industry participants see significant opportunities in improving the ownership experience after purchase.

Bryan Tan, Chief Scientist at Carro Group and CEO of Carro Indonesia, explained that vehicle value assessment is becoming increasingly influenced by new data sources. For electric vehicles, factors such as battery condition and charging history are becoming important considerations alongside traditional indicators such as mileage.

Tan also noted that markets such as Singapore have unique considerations, including the impact of the Certificate of Entitlement (COE) system on vehicle value.

These examples demonstrate how advances in automotive technology are influencing areas beyond driving performance, extending into finance, resale value and long-term ownership decisions.

However, industry leaders agreed that AI adoption must remain focused on practical benefits.

“The focus must remain on delivering practical benefits, enhancing safety and making mobility more intuitive for consumers,” Dr Teng said.

Collaboration Will Define the Next Stage of Mobility Innovation

Across the discussions at AIMCONNECT 2026, one common message emerged: the future of mobility will be shaped by collaboration.

Automotive manufacturers and dealers must better understand customer needs and reduce unnecessary friction throughout the ownership journey. Financial institutions must improve efficiency while maintaining responsible lending practices. Technology providers must develop solutions that meet operational, regulatory and customer expectations.

For policymakers and industry stakeholders, the challenge will be encouraging innovation while maintaining public confidence.

“No single company can transform the entire mobility journey on its own,” Xiao Ting said.

Zhang highlighted that the success of future mobility solutions should be measured not only by speed and efficiency, but also by how effectively the industry works together to serve customers.

“Progress should be measured not only by how quickly a loan can be approved, but by how well the industry works together to serve the customer,” Zhang said.

AIMCONNECT 2026 demonstrated that artificial intelligence will play an increasingly important role in mobility, but technology alone will not define the future. The next phase of automotive transformation will depend on building systems that are intelligent, transparent and connected — supported by stronger partnerships across the mobility ecosystem.

Hashtag: #XStar

The issuer is solely responsible for the content of this announcement.

About AIMCONNECT 2026

AIMCONNECT 2026 brings together automotive leaders, dealers, original equipment manufacturers (OEMs), financial institutions, technology innovators and industry decision-makers to explore the future of automotive commerce and mobility.

Through industry dialogue, thought leadership sessions and live technology demonstrations, AIMCONNECT provides a platform for stakeholders to exchange insights and collaborate on the next generation of connected mobility solutions.

By Dr. Gyan Pathak Prime Minister Narendra Modi’s government has appointed four new governors on October 12, but serious controversies have instantly erupted on two of them – Governor for Odisha Braj Mohan Ram and Governor for Sikkim Dushyant Gautam. Governor of Odisha has betrayed the political motif of the Modi government, while mother and […]

The article Controversies Over Two Governor Designates Are Too Serious To Ignore appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By Bhasha Singh The clouds of unrest are once again gathering over the Gulf region. This time, the epicentre is Yemen’s internal power struggle, which has spilled over into Saudi Arabia, claiming several lives, including that of an Indian national. The Houthi rebels’ attacks on Saudi airports have prompted retaliatory strikes by the Saudi-led coalition […]

The article Iran’s Mediation Efforts In Yemen Are Aimed At Expanding Tehran’s Influence appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).