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The White House on Wednesday reiterated its call to defend its artificial intelligence lead against a quickly advancing China by exporting “cohesive AI tech stacks” that integrate not just chips but also algorithms and applications to foreign countries.Michael Kratsios, director of the White House Office of Science and Technology Policy, told a Senate subcommittee hearing that the US once commanded a “comfortable” lead in AI over closest competitors, such as China, in 2020, but by 2024 the gap had begun to “close significantly”.“We stood in danger of losing our pre-eminence in this critical technology,” he said.US President Donald Trump speaks…

The founder and CEO of diversified investment group Freedom Holding, Timur Turlov, sees a boost in cross-border e-commerce activity between China and Kazakhstan, following a recent cooperation agreement signed in Beijing.Freedom Bank, part of Nasdaq-listed Freedom Holding, last week entered into an agreement with virtual payment provider Verum Payments and UnionPay Business, a unit of the Chinese state-owned financial services firm UnionPay, to support the development of Kazakhstan-China cross-border e-commerce and promote economic ties between the two countries.In an interview, Turlov said the pact marked “another step in boosting regional trade”, as it would help open payment channels and corresponding…

The JL-1 is a nuclear-capable air-launched ballistic missile (ALBM) and debuted during Beijing’s military parade last week.It appeared alongside land-based intercontinental ballistic missiles (ICBMs) and submarine-launched ballistic missiles (SLBMs) – the first time that China has publicly displayed a full nuclear triad.With a range of up to 8,000km (5,000 miles), the JL-1 can move at hypersonic speed and with terminal manoeuvrability, giving it strong penetration abilities and making it difficult to intercept, according to Chinese state media reports.The JL-1 can be carried on a modified H-6N strategic bomber, which can be refuelled in the air, extending the aircraft’s operational range,…

Nasa has barred Chinese nationals on US visas from its facilities and networks, in the latest reflection of Washington’s mounting concern over Beijing’s progress in space and other advanced technologies.Although the space agency has typically restricted the employment of Chinese citizens, Chinese nationals on US visas have long been able to contribute as contractors, graduate students, or university scientists.On Wednesday, Nasa spokeswoman Bethany Stevens said the agency had taken “internal action” pertaining to Chinese nationals. This includes “restricting physical and cybersecurity access to our facilities, materials, and network to ensure the security of our work,” she said.On September 5, Chinese…

Texas Roadhouse’s compelling growth story ran into the wall of soaring beef prices this summer — a real problem for a steakhouse chain that prides itself on offering diners a tasty but affordable meal. Signs of relief have finally appeared in the cattle futures market, though, giving us reason to start warming back up to Texas Roadhouse’s stock. Accordingly, we added to our position on Tuesday for the first time in a month. We’ve now bought back all 80 shares of Texas Roadhouse that we sold at higher prices back in May. With cattle prices starting to roll over in…

Chinese imports supported 5.2 million jobs in Brazil, more than twice the number tied to exports to China, highlighting both the depth of the relationship and the risks of relying on a single partner, according to a comprehensive study released on Wednesday by the China-Brazil Business Council.The report, produced with the country’s Development, Industry, Trade and Services Ministry, shows how bilateral commerce has grown nearly fivefold in the past two decades and now shapes not just trade flows but employment, wages and social patterns across the country. It found that while export-related roles paid higher salaries, the impact of imports…

CNBC’s Jim Cramer was just astounded by the 40% surge in Oracle stock to all-time highs on Wednesday, calling it life-changing for the individual investors who owned a lot of shares. “I have been saying [for decades] you can get rich in individual stocks,” Cramer told members of the CNBC Investing Club. He pointed to the stunning rally in shares of Oracle on staggering AI projections as a prime example. Since leaving his hedge fund in 2000, Cramer has dedicated his life to teaching investors how to make money in stocks. ” Mad Money ” on CNBC celebrated its 20th…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market moves : The S & P 500 hit another new record high on Wednesday. The gains are mostly centered around technology and beneficiaries of the AI Infrastructure buildout, while most consumer stocks and health care lagged. Bond yields were down slightly after the August producer price index surprisingly declined from July. Barring a major surprise from Thursday’s consumer price index, odds are the Federal Reserve will cut interest rates by…

KARACHI: Pakistan’s banking sector remained resilient and well-capitalised in the first half (Jan-Jun) of the year 2025 in progress – gaining strength from growing deposits, contained credit risk, and robust capital buffers, the State Bank of Pakistan (SBP) said in its Mid-Year Performance Review of the Banking Sector January–June 2025. “Encouragingly, under different scenarios of stress testing exercise, the banking sector shows sufficient resilience to withstand severe shocks to key risk factors and hypothetical adverse economic conditions,” the central bank said. The asset base of the banking sector expanded by 11% during Jan-Jun 2025 (H1CY25); primarily supported by an increase…

KARACHI: Image REIT, a Shariah-compliant hybrid and perpetual Real Estate Investment Trust (REIT) scheme, got oversubscribed by 17% on first day of the book building process, receiving investors’ interest to acquire 107.85 million shares against an offer to sell 92.02 million shares at Pakistan Stock Exchange (PSX) on Wednesday. The “strike price” of REIT units, however, remained stuck at the opening level (floor price) of Rs10/unit throughout the day despite of the notable investors’ interest, as it has the liberty to move upward by 40% to Rs14 per unit during the initial public offering (IPO). The two-day Dutch bidding (book…