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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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Iran Urges US to Accept Proposal to Reopen Strait of Hormuz

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. (Reuters)
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. (Reuters)
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Iran Urges US to Accept Proposal to Reopen Strait of Hormuz

Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. (Reuters)
Vessels at the Strait of Hormuz, as seen from Musandam, Oman, October 2, 2026. (Reuters)

Iran's ‌offer to the United States to reopen the Strait of Hormuz within seven days is still on the table, Foreign Minister Abbas Araghchi told Iranian media outlets on Sunday. 

Iran presented its proposal in mid-September after an interim ceasefire collapsed. Tehran later acknowledged receiving a US response, but Iran’s security chief said last week negotiations have stalled because Washington failed to address all seven conditions for ‌reopening the strait. 

"Our ‌situation is clear and based ‌on ⁠the seven-days proposal presented ⁠to the US. They shared comments which we are reviewing, but our proposal is still on the table and if there is any honesty on the US part, which there isn't, the way to reopening the Strait of Hormuz ⁠is obvious," Araghchi said while in Baghdad ‌for a meeting ‌of the Organization of Islamic Cooperation. 

Iran's conditions include, among other ‌demands, the lifting of the US blockade on ‌its ports, the lifting of US sanctions on its oil exports as well as ending hostilities on all regional fronts. 

If Washington accepts Tehran's conditions, the strait ‌could reopen within six days, with talks resuming the following day, Araghchi said. 

A central ⁠point ⁠of disagreement has been Washington’s insistence on addressing Iran's nuclear program from the outset. 

US Vice President JD Vance said earlier this month that Iran must make a "meaningful" reduction in its uranium enrichment capacity to satisfy US demands and end the countries' eight-month war. 

Tehran says negotiations should initially focus on reopening the Strait of Hormuz, which before the war carried about a fifth of the global trade in oil and liquefied natural gas (LNG), and restoring security in the waterway. 

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Congo Confirms Ebola Outbreak Spreads to Eighth Province

Health workers and humanitarian responders on the front lines of the Ebola response gather to receive a vaccination due to their potential exposure to the virus as part of their work with suspected cases, including contacts, as aid agencies intensify efforts to contain the Ebola outbreak involving the Bundibugyo strain, in the North Kivu Province of the Democratic Republic of the Congo, October 16, 2026. (Reuters)
Health workers and humanitarian responders on the front lines of the Ebola response gather to receive a vaccination due to their potential exposure to the virus as part of their work with suspected cases, including contacts, as aid agencies intensify efforts to contain the Ebola outbreak involving the Bundibugyo strain, in the North Kivu Province of the Democratic Republic of the Congo, October 16, 2026. (Reuters)
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Congo Confirms Ebola Outbreak Spreads to Eighth Province

Health workers and humanitarian responders on the front lines of the Ebola response gather to receive a vaccination due to their potential exposure to the virus as part of their work with suspected cases, including contacts, as aid agencies intensify efforts to contain the Ebola outbreak involving the Bundibugyo strain, in the North Kivu Province of the Democratic Republic of the Congo, October 16, 2026. (Reuters)
Health workers and humanitarian responders on the front lines of the Ebola response gather to receive a vaccination due to their potential exposure to the virus as part of their work with suspected cases, including contacts, as aid agencies intensify efforts to contain the Ebola outbreak involving the Bundibugyo strain, in the North Kivu Province of the Democratic Republic of the Congo, October 16, 2026. (Reuters)

The Ebola outbreak in Democratic Republic of Congo has spread to an eighth province, North Ubangi, Congo's public health institute said on Sunday, confirming earlier Reuters reporting. 

The emergence of cases in the province, which borders Central African Republic, poses a new challenge for health authorities struggling ‌to contain ‌the outbreak. 

The National Institute ‌for ⁠Biomedical Research confirmed ⁠two cases - including one death - in North Ubangi. 

Reuters reported on Thursday that two cases were confirmed in the province, citing two health officials. At the time, there was no ⁠official statement by Congolese ‌authorities. 

North Ubangi ‌becomes the eighth province affected by the outbreak, ‌alongside North Kivu, Ituri, Haut-Uele, ‌Tshopo, Sud-Kivu, Bas-Uele and South Ubangi. 

The outbreak, the worst Ebola epidemic in Congo's history, has already spread beyond the country's ‌borders, with cases recorded in Uganda and seven infections confirmed ⁠in ⁠Kenya this month. 

Congo's latest situation report showed 67 new confirmed cases and 26 new deaths in the 24 hours to Oct.16, bringing the cumulative total to 9,415 cases and 4,536 deaths since the outbreak began. 

The outbreak remains concentrated in eastern Congo, with Ituri province reporting 44 of the 67 new cases. 

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Iran’s New Defense Minister Threatens ‘Enormous Damage’ if US Attacks

Demonstrators wave Iranian flags during a pro-government gathering at a square in Tehran, Iran, Thursday, Oct. 8, 2026. (AP)
Demonstrators wave Iranian flags during a pro-government gathering at a square in Tehran, Iran, Thursday, Oct. 8, 2026. (AP)
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Iran’s New Defense Minister Threatens ‘Enormous Damage’ if US Attacks

Demonstrators wave Iranian flags during a pro-government gathering at a square in Tehran, Iran, Thursday, Oct. 8, 2026. (AP)
Demonstrators wave Iranian flags during a pro-government gathering at a square in Tehran, Iran, Thursday, Oct. 8, 2026. (AP)

Newly appointed Iranian defense minister Mehrdad Akhlaghi threatened on Sunday to inflict "enormous damage" on the United States and its allies in the Middle East if Washington resumes its military campaign against the country. 

"People can rest assured that they will most likely not dare to attack us," Akhlaghi told reporters shortly after securing parliament's vote of confidence. "If they (the US) do, they themselves and the region will suffer enormous damage." 

Iranian lawmakers had earlier approved Akhlaghi's appointment as the country's new defense minister, after his predecessor was killed on the first day of the war with the United States. 

"Members of the Islamic Consultative Assembly (parliament) today gave a vote of confidence to Mehrdad Akhlaghi, the nominee for minister of defense and armed forces logistics," state television reported, nearly eight months after the initial US-Israeli strikes that sparked the conflict. 

According to the government website, Akhlaghi "was elected to the post with 237 votes in favor", out of a total of 277 votes cast. 

The veteran defense official replaces Aziz Nasirzadeh, who was killed in a US-Israeli attack on a leadership compound on February 28, alongside former supreme leader Ali Khamenei and senior military commanders. 

"If I receive parliament's vote of confidence, responsibility for the Ministry of Defense will fall to me at a sensitive juncture," Akhlaghi said before the vote, according to the ISNA news agency. 

"Under such circumstances, defending the country requires an accurate understanding of the environment, an understanding of the logic behind developments, the identification of influential trends, and preparedness to face different possible futures," he added. 

Although he does not hold a military rank, Akhlaghi has worked in the defense ministry for 42 years and has headed the Iranian Defense Industries Organization, the state's weapons manufacturer, since 2013. 

The United Nations sanctioned Akhlaghi in 2007 over his alleged involvement in nuclear or ballistic missile activities.