By Dr. Gyan Pathak Once upon a time people in India exercised their “right to protest” in front of the ruling establishment in New Delhi free of cost, though they still needed government permissions for assembly of people for protest. However, under PM Narendra Modi, it has been abolished altogether with denotification of designated protest […]
Blockchain security company SlowMist has uncovered malicious JavaScript associated with Udesk customer-service software that can capture website visitors’ login information and replace cryptocurrency deposit addresses, potentially exposing accounts and diverting transfers. The company disclosed its findings on 27 October after examining two JavaScript samples obtained during routine threat monitoring. Its investigation identified separate mechanisms for collecting sensitive browser data and manipulating payment destinations on three cryptocurrency trading […]
By Ashok Nilakantan Ayers NEW YORK: India’s digital media industry has taken an unusually significant step in challenging Prime Minister Narendra Modi’s government. Twenty-one major news publishers, including media organisations owned by Mukesh Ambani and Gautam Adani, have approached the Supreme Court, arguing that India’s digital privacy legislation could undermine investigative journalism, compromise confidential sources […]
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.
India is considering sweeping changes to investment rules governing its $180 billion National Pension System, potentially allowing fund managers greater exposure to lower-rated corporate debt, alternative assets and other financial instruments as authorities seek to deepen domestic capital markets.
The proposed overhaul would expand investment opportunities for pension funds while maintaining safeguards for retirement savings. The Pension Fund Regulatory and Development Authority (PFRDA) is examining changes to the framework that determines how contributions are allocated across government securities, corporate bonds, equities and alternative investments.
The exercise comes as the regulator reassesses investment restrictions that have traditionally favoured highly rated debt and relatively conservative portfolios. Greater flexibility could channel additional institutional capital towards companies, infrastructure projects and investment vehicles that currently face restrictions on accessing pension money.
No final decision has been announced on the proposed changes, and the precise investment limits, eligibility requirements and implementation timetable remain subject to regulatory consideration.
The authority established a Strategic Asset Allocation and Risk Governance committee in January to undertake a comprehensive examination of investment guidelines. Its mandate includes reviewing permissible asset classes, portfolio diversification, valuation practices, liquidity management and safeguards against excessive risk concentration.
The committee has also been tasked with comparing the pension system’s investment architecture with international practices and recommending adjustments that reflect changing domestic financial markets.
One area under examination concerns the credit quality of debt securities eligible for pension investment. Existing regulations impose rating requirements designed to protect subscribers against defaults and deterioration in the financial condition of borrowers.
Relaxing some restrictions could expand demand for corporate bonds beyond the highest-rated issuers, potentially improving financing opportunities for companies that struggle to attract long-term institutional investors.
Such changes would nevertheless expose pension portfolios to additional credit risks. Lower-rated securities generally offer higher yields to compensate investors for greater uncertainty over repayment, making effective credit assessment and portfolio supervision particularly important.
Alternative investments represent another area of potential expansion. These can include infrastructure investment trusts, real estate investment trusts, securitised instruments and regulated alternative investment funds, subject to the applicable scheme guidelines.
The existing framework already permits limited exposure to several such instruments. For certain subscriber investment choices, alternative assets are restricted to 5% of the portfolio, illustrating the cautious approach adopted towards less conventional investments.
An expansion would require careful consideration of liquidity, valuation transparency and the ability of pension managers to exit investments when necessary.
The regulator’s review specifically addresses valuation standards for alternative investment funds and strategies for managing assets that cannot readily be sold. These questions are significant because retirement funds must balance long investment horizons against subscribers’ withdrawal requirements.
The possible changes could also affect the corporate bond market, where greater participation by pension funds would provide an additional source of long-term financing.
However, the eventual market impact would depend on the permitted allocations, the credit standards adopted and investment decisions made by individual fund managers. Regulatory permission would not necessarily translate into immediate purchases of newly eligible securities.
The pension system has accumulated substantial assets as contributions from government employees, corporate workers and individual subscribers have increased.
Government figures put National Pension System assets under management at approximately ₹15.95 lakh crore at the end of March 2026. The separately administered Atal Pension Yojana held approximately ₹51,400 crore.
The scale of these savings makes investment policy an important consideration for both financial market development and retirement security.
Existing guidelines distinguish between government and non-government subscribers, with different investment patterns and restrictions applying to particular schemes.
Non-government subscribers can exercise greater control over their portfolios through available investment choices, while default arrangements for government employees operate under prescribed allocation rules.
The authority has already demonstrated its willingness to broaden eligible investments within established safeguards.
A regulatory circular issued in May permitted pension funds to purchase rupee-denominated bonds issued by the New Development Bank, adding the institution to an existing list of eligible multilateral lenders.
That amendment retained the applicable minimum AA credit rating requirement and maturity conditions, underscoring the distinction between expanding eligible securities and lowering credit standards.
The regulator’s broader review also covers performance benchmarks, accountability mechanisms and asset-liability management practices. These determine how investment results are assessed and whether portfolio risks remain compatible with long-term pension obligations.
The committee’s mandate further includes examining concentration limits, operational risks and sustainability considerations within pension investment decisions, alongside measures intended to strengthen oversight of participating fund managers.
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 […]
Arabian Post Staff -Dubai Oil prices climbed on Wednesday, with Brent crude rising above $115 a barrel as uncertainty surrounding Israel’s parliamentary election and indications of possible renewed American military operations against Iran heightened concerns over Middle Eastern energy supplies. West Texas Intermediate traded near $101 a barrel, reversing part of its losses from the previous two sessions, as investors assessed the implications of Israel’s inconclusive election […]
HONG KONG SAR – Media OutReach Newswire – 28 October 2026 – Prudential plc (“Prudential”), a leading insurer and asset manager in Asia and Africa, brought together senior leaders from key banking and strategic partnerships for its inaugural Prudential Partnership Summit in Chengdu, China. Held under the theme “Catalyst for the Next Wave”, the two-day event gathered over 150 participants, including economists, banking and fintech leaders, and Prudential executives, to strengthen collaboration, expand capabilities and accelerate innovation.
The Summit explored the trends reshaping customer expectations and the future of financial services. Discussions focused on rising wealth, increasing cross-border mobility, and the growing convergence of data, artificial intelligence and human expertise. Participants exchanged perspectives on how deeper partnerships can enhance customer outcomes and unlock new opportunities for the next phase of growth.
Chengdu’s history provided a fitting backdrop for the Summit. More than a thousand years ago, the city pioneered “jiaozi”, widely regarded as the world’s first paper money. Its success depended on trust in the promise behind it, a principle that remains equally important in successful partnerships today.
Dennis Tan, Regional CEO, Thailand, Vietnam, Cambodia, Myanmar; Group Partnership Distribution, Prudential plc, said: “Keeping promises sits at the heart of every partnership for Prudential. Founded on trust and strengthened through collaboration, these relationships help us meet customers’ increasingly interconnected health, protection and wealth needs.
“The Summit demonstrated the strength of Prudential’s partnership ecosystem and the opportunities ahead. By bringing together distribution expertise, digital capabilities and market insights, we are working to create better customer experiences and drive long-term, sustainable growth with our partners.”
The programme also featured guest speaker Pierluigi Collina, FIFA’s Chief Refereeing Officer and referee of the 2002 FIFA World Cup Final. Drawing on his experience at the highest level of international football, he shared perspectives on leadership, accountability and sound decision-making in complex and rapidly changing environments.
Partnership distribution at Prudential
Prudential harnesses the strength of its partnership ecosystem to translate shared priorities into action, helping more customers achieve greater financial security and confidence for the future.
Partnership distribution has long been central to Prudential’s growth strategy. Since establishing its first strategic bancassurance partnership in 1998, Prudential has built one of Asia’s largest bancassurance franchises, comprising more than 180 banking partnerships across markets. In the first half of 2026, the bancassurance channel delivered US$586 million in new business profit, up 13 per cent on a constant exchange rate basis from US$505 million in the same period last year.
Hashtag: #Prudentialplc
The issuer is solely responsible for the content of this announcement.
About Prudential plc
Prudential provides life and health insurance and asset management in Greater China, ASEAN, India and Africa. Prudential’s mission is to be the most trusted partner and protector for this generation and generations to come, by providing simple and accessible financial and health solutions. The business has dual primary listings on the Stock Exchange of Hong Kong (HKEX: 2378) and the London Stock Exchange (LSE: PRU). It also has a secondary listing on the Singapore Stock Exchange (SGX: K6S) and a listing on the New York Stock Exchange (NYSE: PUK) in the form of American Depositary Receipts. It is a constituent of the Hang Seng Composite Index and is also included for trading in the Shenzhen-Hong Kong Stock Connect programme and the Shanghai-Hong Kong Stock Connect programme.
Prudential is not affiliated in any manner with Prudential Financial, Inc. a company whose principal place of business is in the United States of America, nor with The Prudential Assurance Company Limited, a subsidiary of M&G plc, a company incorporated in the United Kingdom.
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 […]
OpenAI has patched a vulnerability in its application programming interface that allowed security researchers to extract protected reasoning traces from an advanced artificial intelligence model, following a disclosure by cybersecurity firm Xint. The researchers said OpenAI fixed the weakness on 23 October and awarded their team a $6,000 bug bounty. Xint published its findings on 26 October, describing a technique called compaction smuggling that circumvented safeguards intended […]
ISC2 plans to convene its new Cyber-AI Workforce Coalition in November, with initial employment toolkits targeted for spring 2027 as artificial intelligence reshapes cybersecurity jobs and recruitment. Chief executive Scott Beale outlined the timetable during the organisation’s Security Congress in Denver on 26 October, saying the coalition would bring employers, technology companies and workforce specialists together to establish clearer descriptions of emerging security roles. Some companies could […]
The RTI Kerala Federation has approached the Kerala High Court against the state government’s decision to exempt two confidential sections of the Vigilance and Anti-Corruption Bureau (VACB) from the Right to Information Act, 2005. The petition, filed through Supreme Court advocate Jose Abraham, challenges the October…
Doctors who examined former Kerala Health Minister Veena George following a protest at Kannur railway station have told a Special Investigation Team (SIT) that she had no visible external injuries or wounds caused by weapons, further weakening the original attempted murder allegation against five student activists. Th…
Transit cargo shipments through Russia’s Northern Sea Route are expected to exceed seven million tonnes in 2026, nearly doubling last year’s volume, according to a forecast by state nuclear corporation Rosatom. Vladimir Panov, Rosatom’s head of Arctic development, said the increase would establish a new record for cargo travelling through the Arctic corridor rather than originating from projects within the region. He also expects total freight movements […]
Britain must prepare to fight a war alongside its allies within little more than 1,000 days, Defence Secretary Wes Streeting has warned, citing the expanding military capabilities of hostile states. Streeting said adversaries, including Russia, could acquire military strength and capacity to mount an attack by 2030. He described preparing Britain to fight and win a conflict as his defining priority, while emphasising that stronger defences were […]
Ukraine’s cybersecurity authorities have warned that hackers are infiltrating Dahua surveillance cameras and video recorders through predictable serial numbers, weak passwords and unpatched software vulnerabilities. The Computer Emergency Response Team of Ukraine, CERT-UA, identified intrusions in which attackers altered device configurations and created unauthorised accounts, potentially giving them continuing access to surveillance equipment. The agency has not disclosed the number of affected devices, the dates of 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 […]
Microsoft has opened a voluntary departure programme to approximately 60,000 employees across four countries, offering severance support as the technology group adjusts staffing across several major businesses. The initiative, announced on Monday, covers eligible workers in the United States, United Kingdom, Canada and India. It encompasses more than a quarter of Microsoft’s global workforce, although the company has not specified how many departures it expects. Amy Coleman, […]
Anthropic has confirmed that its Claude artificial intelligence model obtained Georgia election statistics through a payment-restricted government dashboard without being instructed to do so, prompting new safeguards against unauthorised actions. The company said on Sunday that Claude retrieved aggregate vote counts during an internal statistics project. The information was publicly available for a fee, but the model independently requested an access token and used it to query […]
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 […]
Arabian Post Staff -Dubai Israelis vote on Tuesday in their first general election since the October 2023 Hamas-led attacks, with Prime Minister Benjamin Netanyahu facing a closely fought challenge over his wartime leadership and the country’s political direction. The election follows four years marked by Israel’s worst security failure, the devastating war in Gaza and military campaigns against Hezbollah in Lebanon and Iran. Final opinion polls indicate […]
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. […]
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.
www.prudentialplc.com
https://www.linkedin.com/company/ebanx/
