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• The European Union is organizing consortia to develop AI infrastructure, requiring each group to have backing from at least one national government to secure support. • Member states are splitting their interests by scale, with Germany, Greece, Portugal, Italy, and Spain focusing on larger data centers. • Conversely, Czechia, Denmark, Finland, France, and Poland are competing to establish smaller-scale AI facilities.

• The European Union is preparing a strategic initiative to expand its AI capabilities by funding the construction of new data centers. • Member states are splitting into two camps: Germany, Greece, Portugal, Italy, and Spain are pushing for larger facilities, while Czechia, Denmark, Finland, France, and Poland are competing for smaller-scale centers. • To secure funding and support, consortia must obtain backing from at least one national government, highlighting the competitive nature of the bid.

• The global supply of AI chips is doubling every nine months, creating an unprecedented surge in computing power for the technology industry. • According to research firm Epoch AI, there are currently approximately 20 million AI chips deployed across data centers worldwide to support evolving AI capabilities. • This rapid scaling is critical because breakthroughs in AI performance are directly tied to corresponding jumps in available hardware and processing power.

• Singapore has climbed to 4th place globally in the Global Startup Ecosystem Index 2026, according to data from StartupBlink. • The city-state is currently the top-performing economy in the Asia-Pacific region and the only APAC nation to rank within the global top five. • This achievement highlights Singapore's growing dominance as a regional hub for innovation and entrepreneurship.

• NASA announced plans in March to establish a permanent base on the Moon through a strategic series of events and documents titled “Ignition.” • The initiative signals a shift toward long-term lunar habitation rather than short-term exploration missions. • In a significant pivot, the Lunar Gateway—a proposed permanent space station orbiting the Moon designed to support missions to Mars—has been put on hold.

• President Lee Jae-myung unveiled the "Three Mega Projects for AI and Semiconductors" in late June 2026 to secure South Korea's global leadership in technology. • The strategy focuses on three core pillars: semiconductors, physical AI, and AI data centers, with a specific goal to double DRAM output within five years. • The initiative emphasizes expanding capabilities in high-bandwidth memory (HBM), AI processors, advanced packaging, and next-generation memory technologies.

Brent crude jumps nearly 5% and Asian markets drop, with chipmakers including SK Hynix among hardest hitBusiness live – latest updatesOil prices jumped and stocks fell after the US launched a fresh wave of attacks against Iran amid an escalating standoff over the strait or Hormuz.Brent crude, the international benchmark for oil prices, rose 4.7% to $79.59 a barrel. Asian stock markets dropped sharply, with South Korea’s Kospi down 8% and Japan’s Nikkei 225 and China’s Shanghai Composite 2% lower. Continue reading...

• Campaigners have accused GB News co-owner Sir Paul Marshall of "cashing in on climate chaos" following a significant increase in his fossil fuel investments. • The analysis reveals that Marshall's portfolio includes various oil and gasfield services companies, as well as exploration and production firms. • Critics argue that the news channel's frequent attacks on climate action are designed to protect and advance Marshall's specific financial interests.

Exclusive: Campaigners argue news channel’s attacks on climate action ‘work in financial interests’ of Sir Paul MarshallThe hedge fund run by the co-owner of GB News almost tripled its investments in fossil fuel companies in the first quarter of 2026 to $2.8bn (£2.1bn), the Guardian can reveal.Critics have accused Sir Paul Marshall of “cashing in on climate chaos” and have claimed the news channel, which frequently attacks climate science and action, was “working in its owner’s financial interests”. Continue reading...

• South Korea achieved a historic milestone in 2026 by surpassing ten million foreign arrivals earlier than ever before. • The surge is primarily driven by strong demand from China, Japan, and Taiwan, as well as growing middle-class travel from the Philippines, Thailand, Singapore, and Malaysia. • This growth is attributed to improved air connectivity, the global popularity of Korean entertainment, and a significant increase in visitor spending.

China’s LineShine debuts at number one in Top500 – a list sometimes viewed as a national measure of global tech prowessA supercomputer in China now outranks its US counterparts as the world’s most powerful. It is the first time since 2017 that a Chinese computer has topped a list sometimes viewed as a measure of a nation’s technological prowess.The LineShine computer in Shenzhen displaced top-ranked US computer El Capitan in the Top500 rankings released on Tuesday. It was LineShine’s debut on the list. Continue reading...

• A new report reveals that India's labour productivity gap with China has widened significantly since 2000, despite the country's strong overall GDP growth. • India has failed to achieve the industry-led productivity transformation seen in peer nations like China and South Korea due to structural constraints and pandemic-related disruptions. • This gap matters because it indicates that India's economic growth is not yet driven by a high-efficiency manufacturing leap, limiting its global competitiveness.

• India is transitioning its technological focus from software services to artificial intelligence, aiming to establish sovereign AI models and semiconductor capacity. • Despite early breakthroughs like the co-founding of Hotmail in the 1990s, India failed to produce dominant global social platforms, allowing companies like Meta and Twitter to capture the economic value of its massive user base. • This historical gap in platform ownership is attributed to limited venture capital availability and regulatory hurdles that prioritized participation over ownership.

• Minister Jitin Prasada emphasized technology self-reliance and innovation-led growth during the STPI's 35th Foundation Day, identifying AI, semiconductors, and startups as critical pillars for the "Viksit Bharat@2047" vision. • STPI signed a Memorandum of Understanding with the Wadhwani Foundation to strengthen skill development, entrepreneurship, and innovation initiatives across the country. • The event marked the launch of Sayuj, an AI-powered mobile application created to unify the startup ecosystem by connecting innovators, mentors, and incubators on a single digital platform.

• The Renew Europe political group is critiquing the EU's Tech Sovereignty Package, arguing that the current approach is insufficient for the region's digital ambitions. • The group emphasizes that the Chips Act must be integrated with a Cloud and AI Development Act to effectively drive demand for European semiconductors and advanced AI. • This shift is critical because current EU regulations reportedly make it impossible to train a compliant Large Language Model (LLM) within the union.

Xi Jinping urges authorities to ‘spare no effort’ in rescue efforts after blast at mine in northern Shanxi provinceThe death toll from a gas explosion at a coalmine in northern China’s Shanxi province has risen to at least 82, state media Xinhua reported on Saturday, with nine people still missing.The gas explosion happened late on Friday at the Liushenyu coalmine in Qinyuan county, while 247 workers were underground, Xinhua reported. Initial reports said eight people had been killed, while more than 200 people had been brought safely to the surface. Continue reading...

Canada’s Intact Financial Corp is said to be exploring offer, as London-listed Tate & Lyle attracts US suitorShares in Hiscox surged to record highs on Friday as it became the latest UK takeover target after a flurry of overseas bids for British businesses this week.Canada’s Intact Financial Corp, which provides property and casualty insurance, is said to be exploring a potential takeover of Lloyd’s of London insurer Hiscox, according to a report by the Insurance Post. Continue reading...

BEV sales jumped nearly 60% in April, taking total electric car registrations to more than 2m, says SMMTBusiness live – latest updatesA recent jump in electric car sales in the UK is likely to be “tempered” by worries over rising inflation and energy prices caused by the Iran war, a leading industry body has warned.New car sales in the UK rose by 24% year on year to 149,247 in April, according to the Society of Motor Manufacturers and Traders (SMMT). Continue reading...