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China's Singles Day shopping festival puts AI selling power to the test
If you are looking for evidence of how enthusiastically China is adopting AI, look no further than the country's premier month-long Singles Day shopping festival.
Zoom wants AI agents to do the work that follows the meeting
Zoom has introduced a new AI platform that converts business conversations into tasks, enhancing productivity. This platform integrates data from meetings, calls, and chats to provide valuable context. The new features allow users to access meeting summaries and automate workflows across various applications.
Crypto’s leverage machine finds new life beyond Bitcoin bets
Despite a decline in crypto trading activities, there is a rising interest in traditional assets among investors. Open interest in real-world asset contracts has increased to $9 billion, claiming 14% of total volume. The transition marks a significant change in the derivatives markets as crypto inroads are being utilized for traditional trading. This shift indicates a maturation of the digital asset space, making it more accessible to mainstream investors.
Chinese startup DexForce trains humanoid robots using virtual data to slash costs
DexForce, based in the southern tech hub of Shenzhen, is betting that such simulated training can help solve one of the humanoid-robot industry's biggest challenges: teaching machines to perform a wide range of real-world tasks without human assistance.
Chinese 'robot brain' startup sees ChatGPT-style breakthrough as soon as next year
Despite impressive hardware advances allowing Chinese humanoids to sprint, dance and do backflips on command, Chinese robot firms are increasingly focusing on the software that determines robots' intelligence and their economic productivity in real-world settings.
India's BRICS play may have a payment plan with no hard cash
India is unlikely to back a common BRICS currency at the September 12-13 summit, instead favouring links between national payment systems and CBDCs to make cross-border transactions faster and cheaper. The story traces India’s opposition to a new BRICS currency, Trump’s tariff threats, the RBI’s push for CBDC interoperability, and the technical and trade hurdles that could stand in the way.
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How a 13-year-old girl with no coding skills built an AI app for busy parents from a study problem, earned Rs 2.5 lakh in 3 days
A 13-year-old Shanghai student has turned a common study problem into an AI product that generated 18,000 yuan (Rs 2,600) from 90 orders in three days. Zhu Shuhan, who has no programming background, built the app with AI assistance in three to four days and won third prize at a national competition in Hangzhou, where more than 50 participants competed.
China to allow more banks to handle digital yuan, sources say
The push to put the digital yuan into the real economy has been slow so far since its launch in 2019, with most retail customers already able to make safe and low-cost electronic transactions via platforms such as Alibaba's Alipay and Tencent Holdings' WeChat Pay.
China debates how to handle criminal crypto cache
Money involved in crypto-related crimes surged 10-fold to 430.7 billion yuan ($59 billion) in 2023, according to blockchain security firm SAFEIS. Last year, China sued 3,032 people involved in crypto-related money laundering, according to the country's top procurator.
Alibaba Group lays off dozens of employees to cut costs: report
Alibaba layoffs: China's Alibaba Group has reduced the Yuanjing team, its metaverse arm, as part of a broader reset. The division was set up in 2021 to cash in on the virtual boom, joining rivals Tencent and ByteDance.
China's $138 billion stimulus bond sale starts on Friday
The finance ministry confirmed what four sources had told Reuters earlier on Monday that the 1 trillion yuan ($138.23 billion) of special government bonds would have tenors of 20 to 50 years and issuance will begin on May 17. The sources who have direct knowledge of the plans said 300 billion yuan worth of 20-year bonds, 600 billion yuan worth of 30-year bonds and 100 billion yuan worth of 50-year bonds would be issued.
China's Tencent Music beats revenue estimates on paid subscriber growth
The company's social entertainment services posted a nearly 50% drop in revenue as Beijing's crackdown on online gambling continues to cast a shadow over its livestreaming revenue, after it shut down features like virtual lucky draws.
China aims to ship 25 million virtual reality devices by 2026
The China Academy of Information and Communications, a state-backed think tank, published a report on Tuesday saying that China's motivation for the action plan should be seen in the context of the U.S. and South Korea governments having identified virtual reality as an important industry.
Xiaomi unveils Xiaomi 12S, 12S Pro & 12S Ultra, price starts at Rs 47K. Check out details
All three smartphones in Xiaomi 12S series were launched in China in a virtual event.
A metaverse with Chinese characteristics is a clean and compliant metaverse
The descriptions point to the long shadow thrown by Chinese authorities who have already intimated they will have a heavy regulatory hand in how it will develop - a shadow some China metaverse advocates fear will stunt its growth.
What Beijing's new crackdown means for cryptocurrency in China
Many of the new rules expand on previous restrictions aimed at cryptocurrencies and close loopholes that had allowed some finance and payment firms to continue in the trade.
How a Digital Yuan threatens to imperil Bitcoin’s biggest markets
“Once a digital yuan is introduced, that’s going to be one of the biggest risks in crypto,” Gillespie, who previously worked in currency markets for Goldman Sachs Group Inc., said.
JD.com becomes first online platform to accept China's digital currency
JD Digits, the company's fintech arm, will accept digital yuan as payment for some products on its online mall, as part of an experimental giveaway of digital yuan to citizens of Suzhou, near Shanghai, according to a post on the company's official WeChat account.
India is our second biggest user base, opening new office in Bangalore: Zoom founder Eric Yuan
When asked about what the future of video communications look like when the world will come out of Covid-19, Yuan said even after the coronavirus outbreak will be gone, work from home will become a preferred working style for many.
Zoom transforms hype into huge jump in sales, customers
The company said its expects adjusted profit in the fiscal year will be $355 million to $380 million, or $1.21 to $1.29 a share. Analysts had estimated 46 cents, just more than Zoom’s earlier forecast.
Zoom CEO seeks redemption as trolls invade coronavirus haven
“Zoombombing” -- where unauthorized people get access to a meeting and share hate-speech or pornographic images -- started trending on social media.
Single's Day sales smash records in China with USD 45 billion
Alibaba Group, during its Double 11 (also called 11.11 sale), surpassed its last year's "Single's Day" sales of USD 18 billion, netting about USD 25.3 billion.
China eyes double-digit growth in software, IT service sectors
The country also aims to bring sales revenue from information security products to 200 billion yuan in 2020 with average annual growth over 20 per cent.
China's yuan hits 5-year low as Brexit fears roil global currency markets
Concerns that Britain may vote to leave the European Union in a referendum next week continued to rattle global financial markets and policymakers.
China reserves show stabilisation as growth slows
Overseas shipments rose 4.1% in yuan terms from a year earlier yet fell 1.8% in dollar terms, the customs administration said Sunday.
China launches $24 billion Integrated Circuit project in Central Hubei
The project focuses on research and development of memory products. Monthly production capacity is expected to reach 300,000 chips in 2020 and one million in 2030.
China to invest $70 bn to improve Internet
China said it would invest $70 billion to increase Internet speeds and expand broadband access in rural areas by this year.
China Singles Day online shoppers spend almost $ 6 billion
The most popular items sold on Singles' Day included underwear, diapers, baby milk formula, mobile phones, cars, diamond rings and home appliances.
India way behind China in securing petroleum supplies
India faces an uneven contest with China, which is dipping into $2.4 trillion of foreign currency reserves to buy stakes in oil & natural gas fields from Iraq to Uganda, compared with India’s $250 bn in foreign exchange reserves.
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