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Nvidia blew past all expectations on Wednesday, reporting soaring profits driven by its graphics processing units (GPUs) that excel at powering artificial intelligence workloads. But other classes of AI chips are beginning to gain momentum.   Every major cloud provider is now designing its own application-specific integrated circuits (ASICs), from Google’s TPU to Amazon’s Trainium to OpenAI’s plans with Broadcom. These chips are smaller, cheaper, easier to use, and may reduce those companies’ dependence on Nvidia’s GPUs. Daniel Newman of Futurum Group told CNBC he expects ASIC chips “to grow faster than the GPU market over the next several years.”…

Chinese Premier Li Qiang has urged Germany to stand by a rational and pragmatic China policy and focus on common interests in his meeting with German Chancellor Friedrich Merz, who plans a state visit next year.“We hope the German side will adhere to a rational and pragmatic China policy, rule out interference and pressure, focus on shared interests and consolidate the foundation for cooperation,” Li told Merz on Sunday on the sidelines of the Group of 20 summit in Johannesburg, South Africa. China and Germany strive to reset trade ties in BeijingChina and Germany strive to reset trade ties in…

Malaysia’s plan to bar children aged 16 and under from having social media accounts from next year has sparked a public backlash, as experts warn that enforcement gaps, privacy risks and vague guidelines could blunt the policy’s impact.Communications Minister Fahmi Fadzil said on Sunday that social media platforms would be required to implement electronic know-your-customer (eKYC) identity checks in 2026 under the Online Safety Act, which comes into force on January 1.Users will have to verify their age using government-issued identity documents such as the MyKad identity card, passports or the national digital ID in a move away from the…

The race to develop artificial intelligence has pushed governments and technology giants to build new electricity plants and upgrade their decades-old grid networks, creating significant opportunities for Chinese power equipment companies, according to analysts.Chinese firms have been benefiting from the spillover of a US order boom, which was driven by US President Donald Trump’s push for tech leaders like Meta and SoftBank to invest in AI infrastructure.“The US buys products from Japan and South Korea instead of China amid geopolitical tensions,” said Pierre Lau Hin-tat, China equity strategist and head of Asian utilities and clean energy research at Citigroup Global…

A picture taken on December 8, 2014 in Abidjan shows a Chinese shoe dealer in a transaction at Adjamene’s market. Sia Kambou | Afp | Getty ImagesChinese business dealings in Africa, once dominated by state-owned enterprises, are now increasingly shifting toward consumer products from the private sector.While Africa’s faster-growing economies, such as Kenya, Uganda and Zambia, see annual growth rates of 4.8%, 6.4% and 5.8%, respectively, the GDP of the overall continent’s 50-plus countries is 4.1%. That is according to IMF’s economic outlook report last month. Chinese investments in Africa’s resource-intensive sectors have declined by roughly 40% since their 2015…

The Pakistani rupee recorded marginal improvement against the US dollar, appreciating 0.07% during the opening hours of trading in the inter-bank market on Monday. At 10am, the currency was hovering at 280.43, a gain of Re0.19 against the greenback. During the previous week, the Pakistan rupee posted marginal gain as it appreciated by Re0.10 or 0.04% against the US dollar in the inter-bank market. The local unit closed at 280.62, against 280.72 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the US dollar was steady and traders were wary on…

More than two years after launching its economic security strategy and with the world swept up in economic warfare, the European Union still cannot decide what economic security means.Despite this, under the strain of US tariffs and Chinese export controls, the bloc is preparing to unveil a new “economic security doctrine” in early December, which will provide bureaucrats with a dashboard of all the weapons at its disposal and the levers to pull – even as progress on its 2023 strategy appears to have stalled.“It came from lessons of the past mandate. We realised that today everything could be weaponised…

The Indian Navy marks a milestone on Monday with the launch of its first locally made anti-submarine ship, but it still faces a naval capabilities gap compared with arch-rival Pakistan, which is set to acquire potent Chinese-made submarines.The core issue is the Indian Navy’s long-standing failure to modernise its conventional submarine fleet, analysts say. This leaves India vulnerable to the new-generation, air-independent propulsion (AIP) equipped Hangor-class vessels that Beijing is supplying to Islamabad.While the new Mahe-class anti-submarine warfare shallow water craft commissioned on Monday provides a coastal defence boost, its utility is limited to shallow waters, despite being a key…

Hongkongers are happy with their current weight and want to stay fit, but are dissatisfied with their finances and jobs, according to a Cigna Healthcare International survey released on Monday.Only 36 per cent of respondents in the city aimed to lose weight, below the global average of 46 per cent and 41 per cent in Asia-Pacific, according to the survey of over 11,000 respondents in 13 markets, including 1,000 in Hong Kong in May.The other markets surveyed were the US, UK, Spain, the Netherlands, Belgium, Switzerland, Kenya, United Arab Emirates, Saudi Arabia, Singapore, Japan and South Korea.Some 43 per cent…

China’s down jacket and coat makers are the unlikely beneficiaries of the winter season, as more young consumers splash out on coveted brands despite significant price increases.Buoyed by strong buying interest in mid to high-end winter wear, retailers like Bosideng expect the sales boom to continue over the next three months as the weather gets colder.“Garment makers that offer clothes specific for winter have received a windfall from the cold temperatures this year,” Shanghai-based securities firm Shenwan Hongyuan Group said in a recent research report. “A late arrival of the Lunar New Year will also boost sales.”The Lunar New Year,…