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Samsung and SK Hynix fall by more than 10% amid renewed fears over AI spending and Chinese competitionBusiness live – latest updatesThe sell-off in AI stocks has intensified, driving South Korea’s stock market down to its lowest level in three months.Investors continued to ditch chip stocks on Tuesday, amid rising concerns about the huge amount of borrowing among AI companies to fund their datacentre expansion plans. Continue reading...

• On 23 July 2026, the European Central Bank (ECB) decided to keep its three key interest rates unchanged, including maintaining the deposit rate at 2.25%. • This pause follows a quarter-percentage-point increase in June, as policymakers weigh slowing underlying inflation against renewed pressure from rising oil and gas prices. • The decision highlights a tension between cooling inflation and upside risks, with hawkish internal debates intensifying.

• The Monsoon Session of Parliament was adjourned for the day following the laying of papers, oath-taking by new members, and obituary references. • Proceedings were disrupted as protests by the CJP intensified and opposition parties launched sharp attacks against the government. • Prime Minister Narendra Modi had previously expressed hope that the session would remain smooth and productive.

• The United States is reportedly deploying additional warplanes to the Middle East as tensions and fighting intensify with Iran. • The IDF has attributed the death of a Lebanese soldier to an explosive device planted by Hezbollah, further escalating regional friction. • Domestically, Avigdor Liberman warned that Benjamin Netanyahu's camp may attempt to weaponize the Shin Bet against political rivals and media outlets.

Sixth day of fighting threatens to turn into all-out war and casts serious doubt on peace deal struck last month• Chaos and confusion bring US no closer to resolution on strait of HormuzMiddle East crisis live – latest updatesThe US has intensified its attacks on Iran, hitting targets near Tehran and striking a ship it accused of trying to break its blockade, while Iran retaliated by firing missiles and drones at US allies in the regionThe back-and-forth attacks, which have reached their sixth consecutive day, threaten to pull the region back into a total war and cast serious doubt about an interim deal reached last month meant to achieve a permanent peace. Continue reading...

• The Indian government is increasing its regulatory scrutiny of major digital platforms, including Meta, WhatsApp, Telegram, and Signal, to combat AI-driven threats such as deepfakes and fraud. • Recent enforcement actions include a notice to Meta regarding child sexual exploitation and abuse material (CSEAM) found in paid Instagram advertisements and a review of WhatsApp's proposed username feature. • This shift reflects a broader effort to safeguard user privacy, transparency, and consent as AI fundamentally reshapes digital content and data ecosystems.

• China is considering new AI export controls following the global success of models like DeepSeek's R1, which offer high capabilities at lower costs than Western alternatives. • This move follows June regulations tightening oversight on overseas agreements involving Chinese investors, data, technology, and national security. • Authorities have already begun investigating several AI startups, including Manus, to identify potential violations of existing export control laws.

More than 200 arrested in raids, comedian and journalists jailed, gay-friendly cruise turned away and protests bannedAuthorities in Turkey have widened a crackdown on public life, arresting more than 200 people during raids across Ankara last month, jailing a comedian and blocking a cruise ship carrying LGBTQ+ passengers from docking in the run-up to the Nato summit in the capital.The arrests followed a ban on demonstrations in Ankara that was put in place until 10 July. Human Rights Watch (HRW) said this was evidence of Turkey’s “ruthless intolerance of freedom of speech and assembly”. The watchdog group said the Nato summit, which starts on Tuesday, was taking place in the context of intensifying violations of basic rights, “including far-reaching restrictions on the main political opposition party, the media, and freedom of expression in general”. Continue reading...

• Analysts warn that cyberattacks from China-based entities are increasing and expanding their targets beyond specific technology sectors as the AI competition with the U.S. intensifies. • Copyleaks, a U.S. AI content detection startup, reported that responses from the Chinese model DeepSeek R1 resembled OpenAI's ChatGPT nearly 75% of the time. • This high level of stylistic similarity suggests that the open-source Chinese model may have been trained using data from the U.S.-developed LLM.

• Internal power struggles within the Iranian regime have intensified as rival factions clash over the direction of the country's nuclear talks. • The conflict has escalated beyond foreign policy disagreements, evolving into a bitter battle for political influence at the highest levels of government. • These regime divisions are coinciding with public protests that continue to challenge the stability of the existing political system.

• An Obama-appointed judge has blocked an executive order issued by Donald Trump intended to prevent non-citizens from registering to vote in federal elections. • The court ruled that the president exceeded his legal authority by attempting to create a federal voter registration list, as election rules typically fall under different jurisdictions. • This decision marks a significant legal setback for the administration's efforts to implement the SAVE America Act's goals through executive action.

• Romanian parliament rejected center-right politician Adrian Veștea as prime minister after he failed to secure the required 233 favorable votes. • President Klaus Iohannis must now select a third candidate to form a government following this failed investiture. • The President is scheduled to meet with representatives from all Romanian political parties on Tuesday afternoon to discuss a new designate.

• French AI startup Mistral is in negotiations to raise €3 billion in new funding, targeting a company valuation of €20 billion. • The move comes as Mistral depletes its existing €3.5 billion war chest of debt and equity faster than its current revenue can replenish. • This funding push highlights the immense capital requirements for frontier AI developers, mirroring massive investment rounds seen by competitors like Anthropic.

• Laos is ramping up regional diplomacy before the 48th ASEAN Summit in Cebu on May 7-8, with Foreign Minister Thongsavanh Phomvihane visiting Indonesia for bilateral talks. • Discussions covered trade, investment, tourism, human resource development, and broader ASEAN priorities, including meetings with business groups and the ASEAN Secretariat. • Prime Minister Sonexay Siphandone will lead Laos at the summit, focusing on unity amid geopolitical tensions in Southeast Asia.

• The Federal Reserve released minutes from its April 16 policy meeting, revealing internal division over the appropriate timeline for interest rate cuts, with several governors questioning whether inflation has declined sufficiently to warrant near-term reductions. • Hawks on the committee expressed concern that premature rate cuts could reignite price pressures, while doves argued that pausing at 5.5% risks unnecessarily constraining growth and employment, setting the stage for a contentious May 2 vote. • Market reactions to the minutes were mixed, with bond futures pricing in only a 28% probability of a rate cut by July 2026, down from 35% before the release, while equity index futures declined 0.6% on expectation of extended higher rates.

• North Korea has deployed an additional 10,000 troops to support Russian forces in Ukraine, escalating foreign involvement in the conflict as fighting intensifies along multiple fronts. • South Korean intelligence reports indicate the troops are equipped with advanced weaponry and are positioned in the Kursk region; this represents a significant expansion of Pyongyang's military commitment to Moscow. • The deployment raises concerns among US and allied officials about the global implications of expanding proxy conflicts and potential technology transfers between Russia and North Korea.

• Russian forces launched coordinated attacks across multiple fronts in Donetsk and Luhansk regions on April 17-18, capturing several villages and pushing Ukrainian defenses back by up to 3 kilometers in key sectors. • Ukraine's military command reports increased use of glide bombs and artillery strikes, with casualty figures on both sides rising significantly; Ukrainian officials estimate Russian forces have committed 50,000 additional troops to the spring campaign. • Military analysts warn the offensive marks Russia's most sustained push since winter 2023, potentially threatening critical Ukrainian supply lines and regional logistics hubs.

• Myanmar's military junta arrested 156 pro-democracy activists over the past week during coordinated raids across Yangon, Mandalay, and other major cities, escalating a campaign that has imprisoned over 3,000 political prisoners since the 2021 coup. • The Association of Southeast Asian Nations (ASEAN) issued a statement expressing "serious concern" about the arrests and called for dialogue; however, the statement stopped short of threatening sanctions or diplomatic consequences. • Activist networks report torture allegations in detention facilities and restricted access to legal representation, prompting calls from international human rights organizations for an independent UN investigation.

• Russia launched a major barrage of cruise and hypersonic missiles targeting Ukrainian power plants and industrial facilities on April 12, damaging critical energy infrastructure across multiple regions. • Ukrainian air defense systems intercepted approximately 60% of the incoming missiles, but strikes on Kharkiv and Dnipro left thousands without electricity and damaged a major steel production facility. • The escalation comes as Russian forces advance in eastern Ukraine, with military analysts warning the campaign aims to weaken Ukraine's ability to sustain military operations through summer.

• Intense fighting between Sudanese Armed Forces and the Rapid Support Forces near Khartoum has displaced over 200,000 civilians in the past week and cut off humanitarian access to vast regions, according to UN agencies on April 7. • The UN warns of imminent famine conditions affecting 18 million people; water and sanitation infrastructure has collapsed in multiple cities, raising cholera and disease outbreak risks. • The US State Department called for an immediate ceasefire and pledged $50 million in emergency humanitarian assistance; neighboring countries report mounting refugee flows straining resources.

• US forces under the Trump administration successfully rescued a second missing pilot in a tactical operation, demonstrating continued military capability amid the 37-day conflict with Iran. • The rescue allows the US to maintain focus on its ultimatum demanding Iran reopen the Strait of Hormuz or face military consequences, with a 10-day pause on strikes against Iran's energy plants.

• Bitcoin and other cryptocurrencies experienced significant price fluctuations as geopolitical tensions surrounding the Iran conflict escalated, with investors reassessing risk exposure.

• The Israeli Defense Force conducted widespread strikes targeting Iran's missile and nuclear infrastructure on Thursday, marking escalation in the month-long Operation Roaring Lion with strikes on facilities including the Arak Reactor. • Oil prices surged and US stock markets fell sharply Thursday amid renewed uncertainty about potential conflict resolution, with investors expressing doubt over prospects for ending the Iran war. • The escalation coincides with Houthi forces joining the conflict through attacks on Israel and a critical April 6 deadline for potential wider regional military engagement.

• The US-China technology rivalry is increasingly centered on quantum computing, with both nations treating the field as a strategic asset with profound economic and national security implications alongside AI and semiconductors. • China has deployed an estimated US$16 billion in public funding—roughly four times current US government investment—embedding quantum computing into its Five-Year Plan as one of seven frontier technologies through a highly centralized, state-led approach. • The US ecosystem remains decentralized, driven by over 40 companies, national laboratories, universities, and hyperscalers, with government support focused on funding, benchmarking, and validation rather than selecting national champions.

Storm is not likely to make a direct hit on Perth, though the city may experience heavy rainfall on Friday and SaturdayFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastTropical Cyclone Narelle was again intensifying into a severe storm off Western Australia’s Kimberley coast on Wednesday with communities in the state’s world heritage-listed Shark Bay preparing for a potential direct hit on Friday night.Narelle had made a rare trip for a cyclone system by forming in the Coral Sea off Queensland and maintaining structure all the way west to the Indian Ocean, where it was expected to build into a major category four system. Continue reading...

IDF is attempting to gain control of border towns, in particular the strategic hilltop city of KhiamMiddle East crisis live – latest updatesIsrael and Hezbollah are engaged in intense ground clashes in at least three strategic areas in south Lebanon as Israel pushes on with its ground invasion of its neighbour, according to a Lebanese security source and residents of the affected towns.Much of the fighting was concentrated around the strategic hilltop city of Khiam, with the Israel Defense Forces carrying out an air and artillery campaign against Hezbollah fighters dug into the city. Fighting escalated there after days of clashes, with a Hezbollah spokesperson acknowledging there were “heightened clashes” on the eastern and northern outskirts of the city. Continue reading...

• Nvidia CEO Jensen Huang is unveiling new chips and software at the GTC conference to solidify the company's position as the industry shifts from training giant foundation models to inference workloads that power real-world applications. • The strategic pivot targets lower-cost, high-throughput AI deployments within enterprise workflows, autonomous systems, and product integrations rather than just headline-grabbing training clusters. • Nvidia's next moves will shape the cost, speed, and competitive structure of the global AI software and infrastructure market as the industry enters a new phase of AI economics.

The United States and Israel have conducted the largest attacks yet against Iran on the 14th day of the conflict, hitting approximately 15,000 targets since the war began. President Donald Trump announced that American forces executed "one of the most powerful bombing raids in the History of the Middle East," destroying military targets on Kharg Island in the Persian Gulf, while threatening to target Iranian oil infrastructure if Tehran continues blocking energy flows. Trump stated the U.S. would continue its campaign "as long as necessary" and indicated the Navy would begin escorting ships through the Strait of Hormuz "very soon," signaling further escalation of the two-week regional conflict. The joint international decision to release record oil reserves this week appeared to have minimal impact on crude prices, while the U.S. simultaneously moved to ease Russian oil sanctions over a 30-day period to alleviate rapidly rising energy costs.