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China's Xi Calls for Stronger Fintech Oversight, Security

File Photo: Chinese President Xi Jinping attends the commemoration of the 110th anniversary of the Xinhai Revolution which overthrew the Qing Dynasty and led to the founding of the Republic of China, at the Great Hall of the People in Beijing on October 9, 2021. (AFP)
File Photo: Chinese President Xi Jinping attends the commemoration of the 110th anniversary of the Xinhai Revolution which overthrew the Qing Dynasty and led to the founding of the Republic of China, at the Great Hall of the People in Beijing on October 9, 2021. (AFP)
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China's Xi Calls for Stronger Fintech Oversight, Security

File Photo: Chinese President Xi Jinping attends the commemoration of the 110th anniversary of the Xinhai Revolution which overthrew the Qing Dynasty and led to the founding of the Republic of China, at the Great Hall of the People in Beijing on October 9, 2021. (AFP)
File Photo: Chinese President Xi Jinping attends the commemoration of the 110th anniversary of the Xinhai Revolution which overthrew the Qing Dynasty and led to the founding of the Republic of China, at the Great Hall of the People in Beijing on October 9, 2021. (AFP)

A high-level Chinese government meeting led by President Xi Jinping has called for stronger oversight and better security in financial tech, state media reported, with the sector hit hard by a regulatory crackdown.

The government action has pummeled some of China's biggest tech firms, wiping out hundreds of billions of dollars in market value since last year, AFP said.

But with the Chinese economy hammered by Covid lockdowns, the government has rolled out a series of support measures, including a call for "predictable" tech regulation.

"Regarding large payment and fintech platform enterprises, Xi called for efforts to improve regulations, strengthen institutional weak links, ensure the security of payment and financial infrastructure, and guard against and defuse potential systemic financial risks," according to a readout of the Wednesday meeting by the official Xinhua news agency.

The Chinese leader also "called for these enterprises to be better supported in serving the real economy", Xinhua said.

The officials at the meeting discussed promoting the "healthy development" of fintech companies, it added, and said "China will tighten oversight" of financial holding firms and internet financial services.

Investors have been heartened in recent weeks by similar statements by the Chinese government, with some perceiving them as signals that the tech crackdown is finally easing.

Hopes also soared this month when dozens of new video games were approved, and tech stocks rose on reports that authorities were wrapping up a cybersecurity probe into ride-hailing giant Didi.

But regulators this month denied reports that they were discussing the potential revival of Ant Group's scuppered IPO, which would have been the world's largest public offering at the time.

Ant Group -- the payments affiliate of e-commerce giant Alibaba -- had its share offering cancelled at the last minute in 2020.

Alibaba was later hit with a $2.75 billion fine over alleged unfair practices.

Ant Group is set to apply for a financial licence as soon as this month, Bloomberg News reported Wednesday, citing unnamed people familiar with the matter.

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World

Putin Says Russia will Achieve War Goals, Keep Expanding 'Buffer Zone'

Russian President Vladimir Putin attends a meeting with Kazbek Kokov, head of the North Caucasus region of Kabardino-Balkaria, in Moscow, Russia December 16, 2025. Sputnik/Mikhail Metzel/Pool via REUTERS
Russian President Vladimir Putin attends a meeting with Kazbek Kokov, head of the North Caucasus region of Kabardino-Balkaria, in Moscow, Russia December 16, 2025. Sputnik/Mikhail Metzel/Pool via REUTERS
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Putin Says Russia will Achieve War Goals, Keep Expanding 'Buffer Zone'

Russian President Vladimir Putin attends a meeting with Kazbek Kokov, head of the North Caucasus region of Kabardino-Balkaria, in Moscow, Russia December 16, 2025. Sputnik/Mikhail Metzel/Pool via REUTERS
Russian President Vladimir Putin attends a meeting with Kazbek Kokov, head of the North Caucasus region of Kabardino-Balkaria, in Moscow, Russia December 16, 2025. Sputnik/Mikhail Metzel/Pool via REUTERS

President Vladimir Putin said on Wednesday that Russia would achieve its goals in Ukraine by diplomatic or military means, and would seek to expand a "security buffer zone" there.

"First, the goals of the special military operation will undoubtedly be achieved. We would prefer to do this and address the root causes of the conflict through diplomacy," Putin said.

"If the opposing side and their foreign patrons refuse to engage in substantive discussions, Russia will achieve the liberation of its historical lands by military means. The task of creating and expanding a security buffer zone will also be consistently addressed."

Of the regions of Ukraine that Russia has claimed as its own territory, it currently controls Crimea, around 90% of the Donbas region and 75% of Kherson and Zaporizhzhia, Reuters reported.

In addition, Russia holds some territory in the adjoining regions of Kharkiv, Sumy, Dnipropetrovsk and Mykolaiv. Putin's comments signalled that Moscow would seek further gains on some of these fronts.

With the war at a key juncture as US President Donald Trump pushes hard for a quick peace agreement, Putin said Russia was advancing on all fronts.

But his defense minister, Andrei Belousov, acknowledged that Ukrainian forces were trying to take back control of the northeastern town of Kupiansk - an effort he said was not succeeding.

Ukraine said on Wednesday it had taken 90% of the town, which Russia said it had captured in November.

Putin said people in Europe were being indoctrinated with fears of a war with Russia, and accused their leaders of whipping up hysteria.

"I have repeatedly stated: this is a lie, nonsense, pure nonsense about some imaginary Russian threat to European countries. But this is being done quite deliberately," he said.

Putin has said Russia is not seeking war with Europe, but is ready for war if that is Europe's choice.

World

Pakistan Says ‘Hostile Countries’ behind False Online Claims Linking it to Australia Shootings

A man waves Pakistan's flag as he along with others gather in support of Pakistan Army, day after the ceasefire announcement between India and Pakistan, in Islamabad, Pakistan, May 11, 2025. REUTERS/Akhtar Soomro
A man waves Pakistan's flag as he along with others gather in support of Pakistan Army, day after the ceasefire announcement between India and Pakistan, in Islamabad, Pakistan, May 11, 2025. REUTERS/Akhtar Soomro
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Pakistan Says ‘Hostile Countries’ behind False Online Claims Linking it to Australia Shootings

A man waves Pakistan's flag as he along with others gather in support of Pakistan Army, day after the ceasefire announcement between India and Pakistan, in Islamabad, Pakistan, May 11, 2025. REUTERS/Akhtar Soomro
A man waves Pakistan's flag as he along with others gather in support of Pakistan Army, day after the ceasefire announcement between India and Pakistan, in Islamabad, Pakistan, May 11, 2025. REUTERS/Akhtar Soomro

Pakistan’s information minister said Wednesday that his country has been the victim of a coordinated online disinformation campaign following the mass shooting at Australia’s Bondi Beach.

Attaullah Tarar accused “hostile countries,” including India, of spreading false claims that one of the two attackers was a Pakistani national.

Speaking at a news conference in Islamabad, Tara said Pakistan's leadership strongly condemned Sunday's attack, which killed 15 people in an antisemitic shooting targeting Jews celebrating Hanukkah, The AP news reported.

The minister said misleading information began circulating almost immediately after the attack, with social media posts falsely identifying one of the suspects as a Pakistani national named Naveed Akram. He said the claims spread rapidly across digital platforms and were repeated by some media outlets without verification.

Tarar said subsequent findings, including confirmation by Indian police, established that one of the attackers, Sajid Akram, was from India, while his 24-year-old son, Naveed Akram — who was also involved — was born in Australia.

The minister said the misinformation appeared to stem from a case of mistaken identity, as a Pakistani man living in Sydney shares the same name as one of the two suspects.

“How do we restore the situation to where it was before the Bondi Beach attack?” Tarar asked, adding that the Pakistani man — also named Naveed Akram — had released a video denying any involvement and urging the public not to associate him with the attack.

Tara said the Pakistani man was “a victim of a malicious and organized campaign” and that the disinformation effort originated in India.

There was no immediate response from Indian officials.

Tarar called on media outlets that published the false reports to issue apologies and said Pakistan had not yet decided whether to pursue legal action.

Pakistan and India, nuclear-armed rivals, have a long history of strained relations and have fought three wars since gaining independence from British rule in 1947, most of them over the disputed Himalayan region of Kashmir. The two sides came close to war in May before US President Donald Trump brokered a ceasefire.

World

UK Removes Duplicate Entries from Sanctions Lists, Designations Remain in Place

All affected individuals and entities remained subject to sanctions under other regimes - Reuters/File photo
All affected individuals and entities remained subject to sanctions under other regimes - Reuters/File photo
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UK Removes Duplicate Entries from Sanctions Lists, Designations Remain in Place

All affected individuals and entities remained subject to sanctions under other regimes - Reuters/File photo
All affected individuals and entities remained subject to sanctions under other regimes - Reuters/File photo

Britain removed duplicate entries from some of its sanctions lists on Wednesday, the government said in a notice, as it moves to consolidate its designations under a single authority, Reuters reported.

The update, which does no affect any restrictions already in place, eliminated four duplicate listings under the Syria sanctions regime and one under the Iran nuclear sanctions regime.

All affected individuals and entities remained subject to sanctions under other regimes, including Iran, Iran Nuclear or Chemical Weapons, according to the government notice.