Tencent Unveils AI Platform, Eyes Middle East Expansion at Global Digital System Summit  

Tencent’s logo is displayed at its pavilion at the China International Fair for Trade in Services in Beijing, China. (Reuters)
Tencent’s logo is displayed at its pavilion at the China International Fair for Trade in Services in Beijing, China. (Reuters)
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Tencent Unveils AI Platform, Eyes Middle East Expansion at Global Digital System Summit  

Tencent’s logo is displayed at its pavilion at the China International Fair for Trade in Services in Beijing, China. (Reuters)
Tencent’s logo is displayed at its pavilion at the China International Fair for Trade in Services in Beijing, China. (Reuters)

Chinese technology giant Tencent has announced the global rollout of new scenario-driven artificial intelligence (AI) capabilities, aiming to help enterprises improve industrial efficiency and accelerate international expansion.

The announcement came Tuesday at the Global Digital System Summit 2025, held on September 16 and 17 at the Shenzhen World Exhibition and Convention Center.

During his keynote, Dowson Tong, Senior Executive Vice President of Tencent and CEO of its Cloud and Smart Industries Group, said: “Practical applications of AI drive business efficiency, while international expansion unlocks new growth opportunities. The solutions we launch today will empower enterprises on their journey toward intelligence and globalization, ensuring sustainable and scalable growth.”

At the summit, Tencent Cloud unveiled its Agent Development Platform 3.0, enabling companies to create autonomous AI agents and integrate them into operations such as customer service, marketing, inventory management, and research. The company also introduced its Agent Runtime infrastructure, designed to provide a robust environment for developing and deploying these agents.

Tencent expanded its SaaS+AI suite, adding advanced office collaboration tools. These include AI Minutes within Tencent Meetings, which recorded 150% year-on-year growth, and Learn Share, now used by more than 300,000 clients with a 92% accuracy rate. Another highlight was Code Buddy, an AI programming tool that cuts coding time by 40% and boosts R&D efficiency by 16%.

The company also launched new models in its Hunyuan 3D series, offering advanced 3D content generation for media and gaming. With more than 2.6 million downloads on Hugging Face, Hunyuan has become the most widely adopted open-source 3D model series.

Over the past year, the Hunyuan ecosystem has expanded with more than 30 models, including translation tools covering 30+ languages, as well as image, video, and 3D content generation tools.

Expanding global footprint

Tencent Cloud reported that its international customer base has doubled in the past year, with double-digit growth across Asia over the last three years in markets such as Hong Kong, Southeast Asia, and Japan. More than 90% of China’s leading internet companies and 95% of its top gaming firms now rely on Tencent Cloud to power their overseas growth.

Day one of the summit featured discussions with global partners including UAE-based e&, Indonesia’s Dana, GoTo Group, and MUFG Bank (China). Executives highlighted the importance of adopting AI and cloud solutions to drive global competitiveness.

Tencent also announced a series of new partnerships across Asia-Pacific, the Middle East, Europe, and North America. Notably, it revealed plans to invest $150 million in its first Middle East data center in Saudi Arabia, while building a third data center in Osaka, Japan, alongside a new regional office.

Alongside its technology push, Tencent plans to raise about $1 billion by issuing offshore yuan-denominated “dim sum” bonds in three tranches (5, 10, and 30 years). Initial price guidance stands at 2.6%, 3.0%, and 3.6% respectively, targeting non-US investors.

The company continues to spend heavily on AI, though at a moderated pace. After capital expenditures of 36.6 billion yuan ($5.14 billion) in Q4 2024 and 27.5 billion yuan in Q1 2025, spending fell to 19.1 billion yuan in Q2. Tencent has told analysts it will adopt a more cautious approach to ensure long-term profitability from its AI initiatives.

Rival Alibaba recently raised $3.2 billion through zero-coupon convertible bonds to fund international growth and cloud expansion. Around 80% of those proceeds will be directed toward new data centers, technology upgrades, and improved cloud services.

Today, Tencent operates 55 data centers across 21 markets, supported by nine international technical hubs in Asia, Europe, and the Americas.

The company has also released international versions of key products, including Code Buddy and Cloud Mall, while its EdgeOne security and acceleration platform has gained more than 100,000 global users within three months of its latest update, reducing website deployment times from a full day to just one minute.



Iraq Studies Alternative Options for Oil Exports

Floating oil export loading platforms at the Basra Oil Port, Iraq, March 12, 2026. REUTERS/Mohammed Aty
Floating oil export loading platforms at the Basra Oil Port, Iraq, March 12, 2026. REUTERS/Mohammed Aty
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Iraq Studies Alternative Options for Oil Exports

Floating oil export loading platforms at the Basra Oil Port, Iraq, March 12, 2026. REUTERS/Mohammed Aty
Floating oil export loading platforms at the Basra Oil Port, Iraq, March 12, 2026. REUTERS/Mohammed Aty

Iraq is studying alternative measures to export crude oil after disruptions to the process amid the US-Israeli war against Iran. At the same time, the country intends to continue producing crude oil at a level of 1.4 million barrels per day.

Iraqi Oil Minister Hayyan Abdul Ghani told the official television channel Al-Iraqiya News that oil exports account for 90 percent of Iraq’s revenues, and that the ministry has decided to continue producing crude oil at 1.4 million barrels per day.

He emphasized that the production and supply of petroleum products to meet domestic demand have not stopped.

He added that refineries are operating at full design capacity to cover local needs, and that sufficient quantities of liquefied gas are available to fully meet domestic needs.

Regarding exports, he explained that the export process has stopped in the south, prompting the government to search for possible alternatives to export crude oil. He revealed that an agreement is close to being signed to export oil through the Turkish Ceyhan pipeline.

Abdul Ghani added that the ministry has prepared a comprehensive plan to manage the current phase, particularly after the new circumstances in the Strait of Hormuz, noting that a plan has been activated to transport 200,000 barrels per day by tanker trucks through Türkiye, Syria, and Jordan.

In a separate context, the oil minister denied that tankers targeted in Iraqi waters belonged to Iraq, explaining that they were not Iraqi vessels and were carrying naphtha.

Iraq recently lost its entire oil export capacity of 3.35 million barrels per day after Iran closed the Strait of Hormuz following escalating conflict in the region.

Iraq relies on crude oil sales for about 95 percent of its revenues to meet the needs of the country’s annual federal budget. This means that the country would face a critical situation if the conflict in the Gulf region and the Strait of Hormuz continues.


Gold Set for Weekly Drop as Oil Price Surge Weighs on Rate-cut Hopes

FILE PHOTO: A goldsmith weighs gold jewelry inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith weighs gold jewelry inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
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Gold Set for Weekly Drop as Oil Price Surge Weighs on Rate-cut Hopes

FILE PHOTO: A goldsmith weighs gold jewelry inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo
FILE PHOTO: A goldsmith weighs gold jewelry inside a showroom in Ahmedabad, India, July 31, 2025. REUTERS/Amit Dave/File Photo

Gold prices were on track for a second consecutive weekly drop, despite edging up on Friday, as surging energy prices due to the Middle East war dimmed prospects for near-term US interest rate cuts.

Spot gold was up 0.3% at $5,095.55 per ounce, as of 0633 GMT on Friday. US gold futures for April delivery fell 0.1% to $5,100.20.

The US 10-year Treasury yields eased, increasing the appeal of the non-yielding bullion. Bullion, however, has ‌lost more ‌than 1% so far this week. Since the war ‌started ⁠on February 28, ⁠it has dropped over 3% so far.

Fears of inflation and questions about the Federal Reserve's ability to cut interest rates if high oil prices persist are somewhat counteracting gold's appeal, said Tim Waterer, KCM Trade chief market analyst.

"Given the ongoing uncertainty about the duration and scope of the conflict in the Middle East, I expect gold to remain on the ⁠radar for investors as a safety play." Heightening geopolitical ‌tensions, Iran's Supreme Leader Mojtaba Khamenei said ‌on Thursday that Tehran will keep the strategic Strait of Hormuz closed as ‌leverage against the US and Israel, which has stoked concerns about ‌global energy supply and risk assets.

Oil prices rose above $100 a barrel, as attacks on oil tankers in the Gulf and warnings from Iran shattered prospects of quick de-escalation in the Middle East conflict. As oil prices surged, US President Donald ‌Trump again demanded Fed Chair Jerome Powell cut interest rates.

Traders, however, expect the Fed to keep rates ⁠steady in the current ⁠3.5%-3.75% range at the end of its two-day meeting on March 18, according to CME Group's FedWatch tool. While recent inflation data suggest price growth is under control, the war and the resulting spike in crude prices have yet to filter through the data.

Investors are awaiting the release of the delayed January Personal Consumption Expenditures Index, expected on Friday. Gold discounts in India widened this week to their deepest point in nearly a decade as demand stayed subdued and some traders steered clear of paying import duties, while the escalating Middle East war boosted safe-haven demand in China.

Spot silver was down 1% at $82.91 per ounce. Spot platinum lost 1% to $2,111.45 and palladium fell 1% to $1,603.


Iran War and Rising Fuel Costs Could Boost Panama Canal Traffic, Administrator Says

A cargo ship sails under Las Americas bridge through the Panama Canal, in Panama City, Thursday, March 12, 2026. (AP)
A cargo ship sails under Las Americas bridge through the Panama Canal, in Panama City, Thursday, March 12, 2026. (AP)
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Iran War and Rising Fuel Costs Could Boost Panama Canal Traffic, Administrator Says

A cargo ship sails under Las Americas bridge through the Panama Canal, in Panama City, Thursday, March 12, 2026. (AP)
A cargo ship sails under Las Americas bridge through the Panama Canal, in Panama City, Thursday, March 12, 2026. (AP)

Panama Canal Administrator Ricaurte Vásquez said Thursday that the conflict in the Middle East and rising fuel costs could ultimately benefit the interoceanic waterway as global shippers adjust routes.

In an interview with The Associated Press, Vásquez said that higher energy, fuel and navigation costs could make the Panama Canal a more attractive option for commercial traffic.

“When costs increase, in general when the price of marine fuel rises, the Panama Canal becomes a more attractive route,” Vásquez said.

Oil prices have risen amid the war in the Middle East, which has led to the temporary closure of the Strait of Hormuz by Iran in response to US and Israeli attacks. About one-fifth of the world’s oil passes through the waterway at the mouth of the Gulf.

If higher energy costs persist, routing cargo through Panama can cut voyages by between three and 15 days, depending on the route, while reducing fuel consumption, he said.

Vásquez said higher fuel costs are expected to affect container ships, bulk carriers and tankers transporting liquefied natural gas. If Middle Eastern supplies are disrupted, shipments may be replaced by other sources, including the United States, which could redirect some LNG cargo from Europe to Asia via Panama.

Gerardo Bósquez, an executive with the Panama Maritime Chamber, said a prolonged conflict could reshape global trade routes, with gas transport among the segments likely to benefit.

Vásquez cautioned that any changes will not be immediate and will depend on how long cargo operators expect the conflict and instability in the Gulf last.