Brazilian companies sharply increased trading in dollar-backed stablecoins during Sunday’s presidential election, seeking protection against currency volatility as the country’s conventional financial markets remained closed. Corporate accounts accounted for 78% of trading volume on cryptocurrency exchange Mercado Bitcoin on 25 October, when President Luiz Inácio Lula da Silva defeated challenger Flávio Bolsonaro. Turnover in Tether’s dollar-pegged USDT token jumped nearly 800% compared with the preceding Sunday, while […]
Arabian Post Staff -Dubai Saudi Arabia has opened a two-month window for eligible Yemeni workers without valid residency status to regularise their employment and transfer to new employers through government digital platforms. The Ministry of Human Resources and Social Development said the programme, launched on 11 October, covers Yemeni nationals whose residence permits have expired and those recorded as absent from work. Applicants must hold valid travel […]
China could become the global leader in advanced artificial intelligence models by 2030 while matching or challenging other countries across strategically important technologies, according to a new assessment by Bloomberg Intelligence.
The forecast identifies large language models, which underpin generative AI applications, as an area where China is particularly well positioned to establish leadership. It also anticipates that Chinese companies and research institutions will become at least competitive across other critical technology sectors, potentially reshaping the balance of technological capabilities between Beijing and Washington.
The assessment comes as Chinese AI developers narrow the performance gap with American competitors despite restrictions on access to advanced semiconductors. Improvements in model efficiency, expanding domestic computing infrastructure and competitive pricing have strengthened China’s position in the global market.
Bloomberg Intelligence senior analyst Robert Lea identified a sharp improvement in Chinese model performance earlier this month. Leading Chinese systems trailed their American counterparts by approximately 3% on benchmark scores, compared with around 9% in May and 15% earlier this year.
That narrowing gap followed the September introduction of DeepSeek’s V4.1 Flash model, which demonstrated further advances in reasoning and computational efficiency. The findings suggest that restrictions on sophisticated American chips have not prevented Chinese developers from improving their systems.
The projections nevertheless remain conditional on technological progress, investment and commercial adoption over the next four years. Competitive performance in individual benchmarks does not necessarily establish overall leadership, particularly when computing capacity, profitability and enterprise deployment are considered.
China’s expanding capabilities are already influencing international adoption patterns. Models developed by DeepSeek, Alibaba and Moonshot AI have attracted developers seeking alternatives to comparatively expensive proprietary systems offered by American technology companies.
Data from OpenRouter, a platform providing access to multiple AI models, showed Chinese systems gaining substantial shares of usage during 2026. However, the figures represent activity through that platform rather than the entire global market, where direct subscriptions and enterprise contracts remain significant.
Chinese developers have also benefited from distributing models with openly available weights, allowing businesses and programmers to customise systems without depending entirely on proprietary services. This approach has encouraged international experimentation and strengthened adoption among cost-conscious users.
American companies retain important advantages, particularly in advanced semiconductor access, large-scale computing infrastructure and commercial relationships with enterprise customers. OpenAI, Anthropic and Google continue investing heavily in frontier models and the infrastructure required to train increasingly sophisticated systems.
Financial performance illustrates the distinction between technological competitiveness and commercial success. Anthropic disclosed revenue of $16.3 billion for the first half of 2026, compared with $1.2 billion during the corresponding period a year earlier, reflecting strong demand for its enterprise services.
Chinese developers face greater pressure on pricing, with intense domestic competition limiting opportunities to convert growing usage into sustainable earnings. Lower-cost models can accelerate adoption while simultaneously reducing margins available to finance future development.
Semiconductor manufacturing remains another constraint. Washington’s export controls restrict Chinese access to certain advanced processors and manufacturing equipment, although domestic suppliers including Huawei are developing alternatives intended to support national computing requirements.
China’s response increasingly combines domestic chip development with software optimisation. Researchers have demonstrated that improvements in training methods, architecture and inference efficiency can reduce dependence on the most powerful available hardware.
Beijing is also pursuing greater integration between artificial intelligence and telecommunications infrastructure. A three-year programme issued by the Ministry of Industry and Information Technology in June established targets for autonomous networks, computing access and specialised AI applications through 2028.
The programme envisages significant breakthroughs in core technologies by 2030, alongside improved coordination between communications networks, computing resources and intelligent services. Its objectives complement broader efforts to establish domestic technological capabilities.
Regulatory developments could influence the international availability of Chinese technology. Authorities proposed export restrictions this month covering 23 categories of AI technology, including language models, autonomous agents, chip designs and computing clusters.
The draft measures would potentially subject transfers of certain model weights, source code and advanced technologies to government approval. Their final scope and implementation remain undetermined.
China’s Ministry of Commerce has presented the proposals as part of a wider effort to regulate strategically sensitive technology transfers. The consultation also covers technologies beyond artificial intelligence, reflecting the government’s expanding attention to intellectual property and national security.
For overseas developers using Chinese models, the eventual rules could affect access to advanced systems and associated technical resources, depending on the restrictions adopted and the thresholds applied to particular technologies.
Arabian Post Staff -Dubai Saudi Arabia and Türkiye have signed a memorandum of understanding to expand educational cooperation, covering student exchanges, teacher development, academic research and educational technology, following talks between their education ministers in Ankara. Saudi Minister of Education Yousef bin Abdullah Al-Benyan and Turkish Minister of National Education Yusuf Tekin signed the agreement on October 26 during Al-Benyan’s official two-day visit to Türkiye, which concluded […]
South Korean cryptocurrency exchange Bithumb has confirmed a cyberattack on its internal employee communications system, exposing personal information and prompting an investigation into whether customer data was compromised. The exchange discovered unauthorised access to its mobile groupware system on Tuesday and disclosed the incident on Wednesday, as financial regulators examined separate security breaches at brokerage Daishin Securities and asset manager Mirae Asset Global Investments. Bithumb said the […]
Generation Z singles are showing greater interest in dating while remaining cautious about artificial intelligence features introduced by matchmaking platforms, according to surveys that expose a divide between enthusiasm for technology and expectations of authentic relationships. Research commissioned by Bloomberg Intelligence and conducted by Attest among nearly 1,000 US respondents in May 2025 found younger adults more uncomfortable than millennials with AI drafting profile descriptions, composing replies […]
Dubai has approved a development programme exceeding Dh2 billion alongside new population planning and digital government policies, as authorities seek to align economic expansion with infrastructure capacity and residents’ needs. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, chaired Tuesday’s Executive Council meeting at Emirates Towers, where the three initiatives were endorsed. The […]
Defence technology company Anduril Industries and chipmaker Qualcomm have unveiled plans for a laptop designed and assembled in the United States, with orders expected to open in 2027 as the partners seek to establish a domestic computer manufacturing network. The initiative, called BlueChip, will initially target government agencies, military organisations, emergency responders and public safety customers. Anduril has produced working prototypes, but neither company has disclosed production […]
Home Minister Ramesh Chennithala has expressed concern in the Assembly over the growing popularity of Korean films among children, warning that violent content in some productions could encourage aggressive behaviour among young viewers. Chennithala said many children across the state were watching Korean films and ar…
Kylian Mbappe has apologised for remarks about former Chinese leader Mao Zedong that provoked widespread criticism in China, cost the Real Madrid forward major sponsorship agreements and prompted an extraordinary intervention by Spanish football authorities. The France captain issued his apology on Tuesday after several Chinese companies terminated commercial partnerships following the circulation of a video in which he appeared to describe Mao as a dictator while […]
China’s state television network CCTV has suspended broadcasts of Spain’s La Liga football competition following controversial remarks attributed to Real Madrid striker Kylian Mbappé about former Chinese leader Mao Zedong, escalating a dispute that has also cost the French international several commercial partnerships. The suspension took effect on Monday night, with television coverage involving Mbappé and promotional material featuring the player also withdrawn. The development prompted an […]
The world’s dominant chipmaker now owns a slice of one of its largest customers. Nvidia’s $3 billion purchase of Meta stock, part of a share sale worth up to $95 billion, deserves far closer attention than it’s getting. The arrangement is easy to follow. Capital leaves the chipmaker as an investment and returns as revenue when Meta buys more processors and networking gear. Meta, for its part, […]
Arabian Post Staff -Dubai Apollo Global Management has agreed to acquire a minority stake in Abu Dhabi-based Mubadala Capital, with the US investment group and other strategic investors expected to commit a combined $5 billion to its investment strategies. The agreement, announced on Monday, October 26, brings Apollo into the ownership structure of Mubadala Capital, the alternative asset management subsidiary of sovereign investor Mubadala Investment Company. The […]
Cybercriminals are exploiting Instagram advertisements and neglected website tracking code to infect vulnerable iPhones with powerful spyware, according to a joint investigation by cybersecurity firms iVerify and Report URI, tracing attacks across social media and retail websites. The researchers identified multiple delivery routes for Coruna and DarkSword, two exploit kits capable of compromising devices and extracting sensitive information. Their findings, published on 21 and 22 October, show […]
Arabian Post Staff -Dubai Bahrain-based alternative investment manager Investcorp is joining Saudi investors in a consortium seeking a stake in a fire safety and equipment company, signalling continued private equity interest in the kingdom despite escalating Houthi attacks on strategic infrastructure. The proposed investment comes as Saudi Arabia faces mounting security pressures following attacks targeting energy facilities, airports and other installations. The transaction would provide an indication […]
Veeam Software is holding its VeeamON Tour Dubai conference on Tuesday, bringing together more than 400 technology executives, cybersecurity specialists and partners to examine the protection of corporate data used by artificial intelligence systems. The event, scheduled at Address Sky View, focuses on data security, recovery and governance as businesses increasingly deploy autonomous AI agents capable of accessing sensitive information and performing tasks across enterprise systems. Organisers […]
Artificial intelligence and cryptocurrency are moving towards practical financial applications, but regulatory uncertainty, technological limitations and institutional infrastructure remain significant obstacles, industry executives and investment specialists told the CryptoAI Summit 2026 in New York. The conference, organised by blockchain news platform Bitpush, brought together representatives from banking, investment management, technology, academia and digital asset businesses to examine how artificial intelligence could reshape payments, trading and financial services. […]
Artificial intelligence has yet to produce measurable gains in profitability or revenue per employee across most major US companies, according to Apollo Global Management chief economist Torsten Slok, challenging expectations that heavy investment in the technology would rapidly improve business performance. Slok’s analysis, published on October 24, compares the seven largest technology-oriented stocks with the remaining 493 companies in the S&P 500. He found that revenue per […]
The Mosprom Export Support Center arranged a series of meetings between Moscow industrial companies and potential clients in Manama. The parties to the talks discussed joint projects in construction, IT and telecoms, as well as supplies of sweet goods to the local market. This was reported by Maksim Liksutov, Deputy Mayor of Moscow for Transport and Industry. “The capital is a confident leader among Russian regions in […]
New Merck Hong Kong Centre to Connect Global Expertise with Local Innovators and Accelerate R&D Commercialisation
HONG KONG SAR – Media OutReach Newswire – 26 October 2026 – Hong Kong Science and Technology Parks Corporation (HKSTP) and Merck, a leading science and technology company in life science, healthcare and electronics, signed a collaboration agreement today to establish their strategic partnership. Under the agreement, Merck will establish the “Merck Hong Kong Centre” at Hong Kong Science Park, dedicated to bringing in advanced scientific products, showcasing live technological demonstrations, and providing expert consultation services. Through technical training and clinical advisory sessions, an innovation scouting programme, and the co-hosting of an annual flagship event, the partnership will connect HKSTP’s I&T ecosystem with Merck’s domain expertise and global networks, supporting local startups and I&T talent, accelerating the translation of R&D outcomes into real-world applications, and jointly capturing opportunities across the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and international markets.
Witnessed by Dr Annika Bolten-Drutschmann, Consul General of Germany (Second row middle), Ms Cordelia Chung, Chairman of HKSTP (Second row first from left), and Mr Peter Yan, Director-General of the OASES (Second row first from right), Mr Terry Wong, Chief Executive Officer of HKSTP (Front row first from left), and Mr Rogier Janssens, President of Merck China (Front row first from right), signed the partnership agreement to establish their strategic partnership.
The HKSAR Government’s recently announced First Five-Year Plan places a strong focus on strategic industries, including life and health technology, artificial intelligence (AI), and new industrialisation, while the latest Policy Address sets out Hong Kong’s ambition to accelerate its development into an international health and medical innovation hub, progressively expanding access to the GBA, international markets, and capital markets. Arriving at a pivotal moment as Hong Kong I&T development enters a new phase, the partnership will bring together top-tier global scientific resources and inject fresh momentum into the city’s I&T sector.
Witnessed by Dr. Annika Bolten-Drutschmann, Consul General of Germany, Ms Cordelia Chung, Chairman of HKSTPand Mr. Peter Yan, Director-General of the Office for Attracting Strategic Enterprises (OASES), Mr. Terry Wong, Chief Executive Officer of HKSTP, and Mr. Rogier Janssens, President of Merck China, signed the partnership agreement. The signing was followed by the “Merck x HKSTP Groundbreaking Ceremony”, marking the official commencement of the Merck Hong Kong Centre and turning the partnership to a new chapter.
Mr. Terry Wong, Chief Executive Officer of HKSTP, said, “We are delighted to welcome Merck, a leading science and technology company, in establishing a strategic partnership with HKSTP and Hong Kong’s I&T ecosystem. As Hong Kong enters an exciting new phase of I&T development, collaboration with global leaders like Merck is crucial to foster the growth of the life and health tech sector. Our shared vision goes beyond offering physical space: we are bringing Merck’s advanced technologies, scientific expertise and global networks closer to our startups and researchers, helping them turn discoveries into practical solutions and explore opportunities for pilot projects, commercial partnerships and investment. Powered by the city’s unique positioning as the super connector between the Chinese Mainland and global markets, this partnership will catalyse collaboration between Merck’s global excellence in life sciences and HKSTP’s thriving ecosystem — taking the discovery and commercialisation of R&D results in the life and health sector to the next level, creating global impact and benefiting humankind.”
Mr. Rogier Janssens, President of Merck China, said, “Hong Kong’s first Five-Year Plan places innovation and technology at the heart of the city’s future, giving science and technology companies like Merck a clear direction for lasting engagement. For 358 years, Merck has advanced science and technology with a patient, generational outlook, and we are now deepening our presence in the Greater Bay Area’s innovation landscape. Merck Hong Kong Centre is the first step of that commitment in Hong Kong. Located next to HKSTP’s shared biomedical laboratory, it places our products and experts alongside the scientists and startups driving the research. We can help them build reliable, reproducible workflows from early experimentation to scale-up, and we can understand earlier what their science needs. Together with HKSTP, we aim to prove this approach in Hong Kong and replicate it elsewhere in China and beyond.”
Under the agreement, the collaboration will focus on four key initiatives:
Merck Hong Kong Centre: The dedicated physical facility at Hong Kong Science Park will provide Park startups and researchers with advanced scientific product supply, live demonstrations of cutting-edge technologies and expert consultation services. The Centre will serve as a physical hub connecting local innovators with Merck’s technology resources.
Training and Consultation Initiative: Connecting Merck’s industry experts with HKSTP’s startups and researchers through technical training, clinical advisory and professional consultation services to promote knowledge exchange and strengthen research and application capabilities.
Innovation Scouting Program: Establishing a structured mechanism to identify, evaluate and connect high-potential startups directly with Merck’s global innovation network, exploring collaboration opportunities including commercial partnerships, proof-of-concept pilot projects and strategic venture investment opportunities.
Merck Innovation Day: An annual flagship event held at Hong Kong Science Park focusing on life science, healthcare and electronics, bringing together startups, academia and industry leaders to showcase innovations and foster cross-sector exchange and co-development.
HKSTP is committed to building a vibrant I&T ecosystem and is currently home to around 400 life and health technology companies, supported by comprehensive R&D infrastructure and one-stop support services that help turn ideas into real-world applications. The partnership will further connect Park companies with Merck’s global resources, while providing Merck with a platform to access emerging technologies, research talent and high-potential companies in Hong Kong and the GBA, fostering two-way innovation exchange and opening up long-term collaboration opportunities.
Hashtag: #HKSTP
The issuer is solely responsible for the content of this announcement.
HKSTP
More information about HKSTP is available at www.hkstp.org.
Kerala’s new Vistadome service on the Kollam–Sengottai railway route faces an immediate capacity constraint, with short platforms at several stations preventing the addition of tourist coaches without reducing accommodation for ordinary passengers. The problem has emerged just days after the panoramic coach began oper…
Kerala’s new Vistadome service on the Kollam–Sengottai railway route faces an immediate capacity constraint, with short platforms at several stations preventing the addition of tourist coaches without reducing accommodation for ordinary passengers. The problem has emerged just days after the panoramic coach began oper…
Joint study shows emerging markets will generate 60% of new online spending over the next decade — most of it from consumers without a credit card
SINGAPORE – Media OutReach Newswire – 21 October 2026 – Asia is projected to add 702 million middle-class adults between 2026 and 2036, three-quarters of all middle-class growth in emerging markets, according to a new study from World Data Lab (WDL) and EBANX, a global technology company specializing in payment services for emerging markets.
Emerging markets will add USD 8.7T in online spending by 2036
But this new consumer class will not shop the same way developed-market consumers do: by 2036, only 20% of adults in emerging markets will hold a credit card, against 66% in developed markets.
Global online spending is projected to grow from USD 11 trillion in 2026 to USD 25.6 trillion in 2036. Emerging markets add USD 8.7 trillion of that increase (60% of all new online spending), with China (USD +4.7 trillion) and India (USD +1.3 trillion) leading this growth. Indonesia (USD +243 billion), Brazil (USD +249 billion) and Mexico (USD +191 billion) form the next tier.
The categories matter as much as the markets. Online gaming spending in emerging markets grows 14% a year over the decade, the fastest of any category, and SaaS nearly 10%. Emerging markets will generate 76% of global growth in social media spending and 64% in SaaS.
The demographic picture challenges a common assumption. Consumers aged 45 and over account for 51% of emerging markets’ online spending growth through 2036, and spending by those aged 65 and over grows 12% a year, faster than any other age group.
The outlook was discussed during “Navigating Payments: How innovation and fragmentation are changing the game for e-commerce,” a webinar co-hosted by World Data Lab (WDL) and EBANX.
“Over the next ten years, people aged 45 and over will add USD 4.4 trillion in online spending in emerging markets, half of all the growth. Some of them already shop on their phones and will keep doing so as they get older. Others will buy online for the first time in their fifties or sixties. Merchants who build their checkout only for a 25-year-old will miss both groups,” explained Wolfgang Fengler, CEO of WDL.
The study models consumer spending, demographics, and financial access across 184 countries to 2036, drawing on the World Bank’s Global Findex and WDL’s consumer models, combined with EBANX’s experience processing payments for global merchants in emerging markets since 2012.
“If your checkout only takes credit cards, you are competing for one in five adults in emerging markets and conceding the other four”, said Marie-Elise Droga, Chief Revenue Officer of EBANX. “The merchants growing fastest with us didn’t wait for cards to arrive: they added the payment rails their customers already use, and they’re taking new buyers, bigger baskets and recurring revenue that card-only competitors can’t even see.”
834 million new online buyers, 281 million new credit cards
Between 2026 and 2036, the global economy will add 834 million online buyers but only 281 million credit card holders—a ratio of nearly three to one. In emerging markets, two in three new online buyers (67%) will arrive without a credit card. Adults without it already account for 55% of online spending in emerging markets, a share that rises to 90% in India and 93% in Sub-Saharan Africa. Credit cardless adults also represent 52% to 59% of spending in every digital category, from gaming and SaaS to streaming and travel.
Digital payment use is also running ahead of online shopping. Of the 2.6 billion emerging-market adults spending between USD 6 and USD 25 a day, 70% already pay merchants digitally while only 33% buy online, leaving at least 957 million digitally active consumers who are not yet online buyers. Many hold a bank account or mobile wallet but no card that works at an international checkout.
“This is closely tied to the innovation that came out of the financial industry in emerging markets, which developed solutions for an increasingly mobile economy and for the habits of local consumers. Today, we call them local payment methods, or LPMs, and they allowed e-commerce growth to decouple from the credit card, which still has very low penetration in these countries,” said Estelita Hass, head of Market Intelligence at EBANX.
Subscriptions are the next frontier — and India shows why
Recurring categories such as streaming, SaaS and online education will reach USD 2.1 trillion a year in emerging markets by 2036, with USD 1.1 trillion coming from adults without a credit card. In India, 82% of recurring online spending will be cardless. Account-based recurring rails are beginning to close that gap: a global SaaS company saw a 20% uplift in new subscribers after adding UPI at checkout in India, and cybersecurity company Nord Security now generates 28% of its revenue in Brazil through Pix Automático, Brazil’s recurring instant payment, six months after launching it with EBANX.
The issuer is solely responsible for the content of this announcement.
ABOUT EBANX
EBANX is the leading technology platform connecting global businesses to the world’s fastest-growing digital markets. Founded in 2012 in Brazil, EBANX was built with a mission to expand access to international digital commerce. Leveraging proprietary technology, deep market expertise, and robust infrastructure, the platform enables global businesses to offer hundreds of local payment methods and streamline cross-border payments across Latin America, Africa, and Asia. With a global footprint, it established a technology and regulatory headquarters in Singapore in 2026. More than just payments, EBANX drives growth, enhances sales, and delivers seamless purchase experiences for businesses and end users alike.
By Kalyani Shankar In India, festivals are more than just celebrations; they are significant traditions. Families often spend a considerable amount on new clothes, sweets, decorations, and gifts during these times. However, rising prices and inflation are forcing consumers to adjust their budgets and shopping habits. Many families are choosing to celebrate on a smaller […]
www.hkstp.org
https://www.linkedin.com/company/ebanx/
