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China’s aerospace manufacturers have become a growing presence at overseas air shows as the country seeks to expand its arms sales abroad, bolstered by technological advances in the defence and aviation industries.More than 1,500 companies took part in this year’s Dubai Airshow, the largest air show in the Middle East, including around 80 Chinese companies, such as China National Aero-Technology Import & Export Corporation (Catic).Catic is the international arms sales subsidiary and the global representative of the Aviation Industry Corporation of China (AVIC), a major Chinese military aircraft manufacturer.At the Dubai Airshow, Catic displayed miniature and life-size models of Chinese…

Across Southeast Asia, millions of young people are launching start-ups and driving rapid digitalisation, with new unicorns emerging in a sign that the region is becoming a global force in entrepreneurship, according to former Indonesian president Joko Widodo.Speaking at the closing of the Bloomberg New Economy Forum on Friday, Widodo said the next unicorn – meaning a privately held start-up valued at more than US$1 billion – might emerge not from Silicon Valley or Shenzhen but from Jakarta, Singapore, Bangkok, Kuala Lumpur, Manila or Hanoi.“Southeast Asia is no longer just a market, it is becoming a global force,” he said.He…

Kingbhai Digisol (Private) Limited, an investee of First National Equities Limited (FNEL), has secured an agreement worth approximately Rs3 billion with Prime Construction Company, one of the country’s leading infrastructure development firms. FNEL disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Friday. “We hereby inform you that Kingbhai Digisol (Private) Limited, an investee of the company, has successfully secured its largest-ever single order amounting to approximately Rs3 billion through an agreement signed with Prime Construction Company, one of Pakistan’s leading infrastructure development firms engaged in national-level projects including construction of roads, highways, bridges, and dams,”…

Japanese Prime Minister Sanae Takaichi said on Friday the country had been “consistent” over Taiwan but insisted she wanted better relations with Beijing.But when asked if she would do so, she did not answer directly but said Tokyo would “make a comprehensive judgment based on all available information regarding a situation threatening Japan’s existence”.Speaking to reporters before she left for the Group of 20 summit in South Africa, she added: “I myself have repeatedly stated this position in my responses. The government’s stance remains consistent.”Takaichi added that she still hoped for better relations with China. She said that when she…

Gold prices fell in European trading on Friday, extending losses for a second consecutive session and nearing a weekly decline, pressured by the strong performance of the US dollar in the foreign-exchange market amid fading expectations for a Federal Reserve rate cut in December.   Minutes from the Fed’s latest policy meeting reduced the likelihood of continued monetary easing, and investors are now awaiting key US sector data later today to reassess those expectations.   Price overview   •Gold today: spot gold fell 1.2% to 4,029.36 dollars, down from the opening level of 4,077.27 dollars, after hitting an intraday high…

NEW DELHI: Air cargo services between India and Afghanistan will be launched soon, an Indian foreign ministry official said on Friday, as the two countries seek to reset ties amid soured relations with their common neighbour, Pakistan. The announcement came during a visit to New Delhi by Afghanistan’s Taliban Trade Minister Nooruddin Azizi, who has urged India to boost trade and open cargo hubs as Kabul seeks access to grains, medicines and industrial goods following the closure of its border with Pakistan after military clashes. Kabul’s air freight corridors with Delhi and the northern Indian city of Amritsar have been…

Huawei Technologies on Friday introduced open-source software that it claimed can significantly improve the utilisation rate of artificial intelligence chips, marking the latest effort by Chinese companies to achieve world-class AI training capabilities even without access to the latest Nvidia processors.Flex:ai, which pools and orchestrates processors to squeeze out more performance, came as part of Huawei’s effort to develop a self-sufficient compute ecosystem by overcoming China’s shortcomings in individual chipsets.Built on an open-sourced platform called Kubernetes, the software is an orchestration system for graphics processing units (GPUs), neural processing units (NPUs) and other accelerators from different chipmakers. It could slice…

Beijing’s recent fury directed towards Japan is hammering home a point on Taiwan to the wider world, especially the United States and its allies, analysts in mainland China have suggested.The comments appeared to challenge Japan’s policy of strategic ambiguity about how it would respond to any crisis – something Beijing said would undermine the post-war international order.This stance could be a “multilayered” strategic signal, according to Chen Yang, director of the Japan Research Centre at the Beijing-based think tank Haiyi Institute.“[It] is not only aimed at Japan but also a reminder to the United States and its system of allies…

Philippine President Ferdinand Marcos Jnr has confirmed that an arrest warrant has been issued for former lawmaker Zaldy Co and 17 others accused of involvement in anomalous infrastructure projects.The move marks the first major enforcement action since authorities began probing so-called “ghost” flood control projects, referring to substandard or non-existent works now at the centre of a sprawling corruption scandal.Marcos announced the development in a video posted to his social media accounts on Friday, saying the warrants covered Co – the former House appropriations committee chair – as well as officials from the Department of Public Works and Highways (DPWH)…

The Chinese and Russian militaries have pledged to deepen cooperation in sensitive areas including missile defence, following high-level talks in Moscow involving China’s top general.General Zhang Youxia, the first-ranking vice-chairman of China’s Central Military Commission, met with his Russian counterpart Andrei Belousov on Thursday, according to China’s defence ministry announcement. The visit – Zhang’s first in two years – signalled a continued strengthening of defence ties between the two countries.In a statement released on its website on Thursday night, China’s defence ministry said the two sides had “an in-depth exchange of views on the relations between the two countries and…