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China’s Moonshot unveils world’s largest open AI model, closing in on US rivals

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Kimi K3 debuts month after Washington pulls Anthropic’s Fable, Mythos models over security concerns Founder of Moonshot AI Yang Zhilin delivers a speech at a conference of 2026 Zhongguancun forum, in Beijing, China, March 25, 2026. PHOTO: REUTERS Chinese AI startup Moonshot on Friday unveiled Kimi K3, a 2.8 trillion-parameter model that it said is the world’s largest open-weight AI system and delivers performance approaching United … Read more

China’s Xi calls for ‘secure, controllable’ AI as competition with US grows

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President of China Xi Jinping attends the plenary session during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. GIANLUIGI GUERCIA/Pool via REUTERS/File Photo Acquire Licensing Rights China’s President Xi Jinping on Friday called for developing “secure and controllable” artificial intelligence (AI) amid the growing competition in … Read more

$3b Saudi rollover ‘all good’: FinMin

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[ EASING PAYMENT OBLIGATIONS: Sources said Pakistan was working on multiple options to extend the longevity of its short-term external debt and also stagger the upcoming payments of energy debt being obtained by Chinese firms to set up power plants under CPEC. PHOTO:FILE ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Thursday that it was “all … Read more

Uber in $15b deal for Delivery Hero

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[ Acquisition advances the US ride-hailing firm’s efforts to build a global food-delivery business BERLIN: Uber agreed on Thursday to buy Germany’s Delivery Hero at an equity value of $14.8 billion to create the largest food-delivery group outside China and stave off intensifying competition from US and European rivals. The acquisition advances the US ride-hailing … Read more

Over 100 wildfires prompt Algeria to urgently recall civil protection personnel

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A firefighter sprays water to extinguish flames in the Fontainebleau forest during a wildfire, in Le Vaudoue, during a heatwave affecting large parts of France, July 13, 2026. Photo: REUTERS/file Algeria issued an urgent order Thursday recalling personnel across 45 provinces as the country battled more than 100 wildfires amid an intense heat wave. The … Read more

Reserves down $1.24b on debt repayments

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[ KARACHI: The State Bank of Pakistan’s (SBP) foreign exchange reserves decreased by $1,245 million during the week ended July 10, 2026, reaching $17,225.8 million. The decline was mainly due to external debt repayments. Pakistan’s total liquid foreign currency reserves stood at $22,675.5 million, including $17,225.8 million held by the SBP and $5,449.7 million with … Read more

Digital exchanges eye Pakistani investors

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[ KARACHI: Several global exchange companies are focusing on Pakistan’s market to attract investors after the military crisis in the Middle East shifted their interest in different venues, particularly to multiple high-dividend, accessible, and secure options. Industry experts say geopolitical uncertainty in the Middle East, coupled with changing investor preferences and the rapid expansion of … Read more