Intensifies

• Italy has condemned Spain's introduction of border controls on Italian visitors, labeling the move "unacceptable." • The retaliation follows a diplomatic dispute triggered by events in Ceuta, leading Madrid to implement checks on travelers from Italy. • This escalation highlights deep sensitivities regarding migration management across the EU and reflects growing tensions between member states.

Travellers caught up in ongoing migration row as Madrid introduces retaliatory measures on visitors from Italy after Rome imposed checks Italy’s foreign minister has called Spain’s decision to impose retaliatory checks on travellers from Italy “incomprehensible and completely unacceptable” as people making their way between the two EU countries were left grappling with the fallout of the escalating feud.Spain started carrying out spot checks on visitors from Italy at midnight on Saturday. The tit-for-tat move came after Rome infuriated Madrid by launching checks on 1 August for travellers from Spain in response to the recent influx of about 72,000 people into Ceuta, a Spanish territory in north Africa. Continue reading...

• Alibaba has unveiled its largest AI model to date, featuring 2.4 trillion parameters, as it seeks to compete with U.S. AI leaders. • Simultaneously, DeepSeek is challenging the market by focusing on dramatically lowering operational costs for AI systems. • This shift indicates that the Chinese AI sector is moving beyond raw capability to a new battleground centered on balancing performance, scale, and affordability.

• Major technology companies have invested over $1.1 trillion in capital expenditure since the AI boom began in 2023. • This massive spending is driven by an intensifying infrastructure race to build the data centers and hardware necessary for advanced AI. • The scale of investment reflects a fundamental transformation in corporate strategy as Big Tech competes for dominance in the AI sector.

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.