Reliance

• The European Union is developing a new "tech sovereignty" strategy aimed at reducing its heavy reliance on American technology companies. • This policy marks a strategic shift from primarily regulating Big Tech to actively promoting and favoring homegrown European digital services. • The move is driven by a desire to protect European data, enhance security, and foster economic competitiveness against US dominance.

Rising volume of components imported from China prompts warning of cannibalisation of European industriesEurope is facing a fresh China shock that threatens to cannibalise local factories, leading to job losses and de facto colonisation of industry by Beijing, trade analysts and representatives have said.They fear the plunging exchange rate and support for Chinese “zombie firms” has echoes of the crisis in the US 25 years ago when the term “China shock” was coined. It referred to the impact of China bursting on to the global trade stage after becoming a member of the World Trade Organization, with soaring imports displacing local industries and causing the loss of up to 2.5m jobs. Continue reading...

• Israeli Prime Minister Benjamin Netanyahu stated on 60 Minutes that Israel seeks to phase out its reliance on U.S. military assistance. • Netanyahu declared, 'It's time that we weaned ourselves from the remaining military support.' • The announcement reflects Israel's push for greater military self-sufficiency amid shifting U.S.-Israel dynamics.

• A KPMG study indicates Singaporean respondents have grown more reliant on AI tools, leading to positive efficiency improvements. • Usage trends reflect broader adoption in daily tasks, with respondents reporting tangible productivity benefits from AI integration. • The findings underscore Singapore's proactive AI embrace amid national strategies for technological advancement.

• India's top 10 most valued companies added a combined Rs 2.20 lakh crore in market capitalisation during a holiday-shortened week, with the BSE Sensex climbing 249.29 points or 0.32 per cent. • Reliance Industries emerged as the biggest gainer, adding Rs 1,39,655.8 crore to reach Rs 19,36,303.30 crore, while Bharti Airtel surged Rs 43,503.51 crore to Rs 11,49,222.13 crore and TCS gained Rs 27,569.83 crore. • Six of the top-10 firms faced a combined valuation erosion of Rs 1.24 lakh crore, with HDFC Bank, SBI, ICICI Bank, L&T, HUL, and LIC all declining during the volatile trading environment.

Exclusive: Former UN climate chief to co-chair Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequalityCountries are being “held hostage” by their reliance on fossil fuels, a former UN climate chief has warned, describing the health impacts of climate change as “the mother of all injustices”.Christiana Figueres, an international climate negotiator who helped deliver the Paris agreement signed in 2016, made the comments as she was announced on Wednesday as co-chair of a Lancet Commission examining how sea-level rise is reshaping health, wellbeing and inequality. Continue reading...

Prime minister says US–Israeli war on Iran has shifted the international reality, likening current economic shock to Covid pandemic and Ukraine invasionFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAnthony Albanese says the federal government is preparing new measures to help shield households from the economic fallout of the war in Iran, likening supply chain and fuel disruptions to the Covid-19 pandemic.Announcing a snap meeting of national cabinet on fuel supply set to take place on Thursday morning, the prime minister used a speech to the Australian Automotive Dealer Association in Sydney to warn the international reality had shifted because of the US and Israeli-led bombings. Continue reading...

Electric vehicles reduce exposure to global oil price shocks and shift energy consumption to electricity largely produced domestically, expert saysGet our breaking news email, free app or daily news podcastAustralia could reduce its reliance on foreign fuel by more than 1bn litres a year if we replaced 1m petrol-fuelled cars with electric vehicles, as experts say boosting EV adoption is part of securing the nation’s long-term economic security.Hussein Dia, a professor of transport technology and sustainability at the Swinburne University of Technology, said electric vehicles can play a meaningful role in improving Australia’s energy sovereignty, as well as contributing to the national net zero emissions goal. Continue reading...

Major European companies warned EU leaders on March 13, 2026, that efforts to reduce dependence on US tech like Microsoft and Google cloud services could damage profitability and competitiveness. The EU's new sovereignty package targets AI and software reliance amid geopolitical risks. Firms across banking and manufacturing highlighted the high costs of shifting from entrenched US platforms. Discussions echoed concerns raised at the January Davos World Economic Forum.