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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)
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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.

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Business

Saudi Arabia Consolidates Its Position Among the World’s Top 20 Economies in 2026

Riyadh, Saudi Arabia (Reuters) 
Riyadh, Saudi Arabia (Reuters) 
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Saudi Arabia Consolidates Its Position Among the World’s Top 20 Economies in 2026

Riyadh, Saudi Arabia (Reuters) 
Riyadh, Saudi Arabia (Reuters) 

As the global financial landscape is reshaped by accelerating geopolitical shifts, economic data show that Saudi Arabia has firmly consolidated its place among the world’s 20 largest economies in 2026.

This standing reflects the success of Vision 2030 in diversifying income sources and expanding gross domestic product. The Kingdom ranks 19th globally, outperforming several long-established economies, with GDP projected at $1.316 trillion.

According to data based on International Monetary Fund reports released in October 2025, the global economy is expected to reach $123.6 trillion in 2026. Economic power remains highly concentrated, with the world’s five largest economies accounting for more than 55 percent of total global output:

United States: Continues to lead with GDP of $31.8 trillion, supported by a resilient labor market and sustained consumer spending, with real growth projected at 2.1 percent.

China: Ranks second with an estimated GDP of $20.7 trillion, despite demographic challenges and its transition toward advanced manufacturing.

Germany: Retains Europe’s top position in third place with GDP of $5.3 trillion, despite pressure from high energy costs.

India: The “rising star,” securing fourth place globally with GDP of $4.5 trillion and posting the fastest growth among major economies at 6.2 percent.

Japan: Slips to fifth place with GDP of $4.4 trillion, facing demographic headwinds despite strengths in robotics and automotive industries.

Linked to recent IMF assessments, Saudi Arabia stands out as a key pillar in what experts describe as a new “economic geography.” While many emerging markets have struggled with interest-rate volatility and inflation distortions in advanced economies - particularly the United States - the Kingdom has demonstrated a strong ability to absorb external shocks.

The IMF views Saudi Arabia’s large-scale investments in high-potential sectors not merely as a driver of domestic growth, but as part of a broader global shift in capital flows toward destinations offering stability and long-term attractiveness.

The data also underscore the strong performance of other economies on the list. Brazil ranks 11th with GDP exceeding $2.2 trillion, while Türkiye and Indonesia continue to compete closely in 16th and 17th place, respectively.

 

 

Business

Saudi Industrial Production Index Records Highest Growth Since Early 2023

A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
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Saudi Industrial Production Index Records Highest Growth Since Early 2023

A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)
A facility operated by the Saudi International Petrochemical Company (Sipchem). (Sipchem)

Saudi Arabia’s Industrial Production Index posted a year-on-year increase of 10.4 percent in November 2025, compared with the same month a year earlier, marking its highest growth rate since the beginning of 2023, according to preliminary data. On a monthly basis, however, the index declined by 0.7 percent.

Data released by the General Authority for Statistics on Sunday showed that the index for oil-related activities rose by 12.9 percent year on year in November, while the index for non-oil activities increased by 4.4 percent compared with the same month of the previous year.

Month on month, the index for oil activities recorded a rise of 0.5 percent, while the non-oil activities index fell by 3.4 percent compared with October 2025.

In November, the sub-index for mining and quarrying activities climbed 12.6 percent year on year, driven by higher oil production during the month. Saudi oil output rose to 10.1 million barrels per day, compared with 8.9 million barrels per day in November last year.

On a monthly basis, the mining and quarrying sub-index also increased by 0.5 percent.

The manufacturing sub-index recorded an annual rise of 8.1 percent, supported by a 14.5 percent increase in the manufacture of coke and refined petroleum products, as well as a 10.9 percent rise in the manufacture of chemicals and chemical products.

In monthly terms, preliminary results showed the manufacturing sub-index edged up by 0.3 percent, buoyed by a 0.3 percent increase in the manufacture of coke and refined petroleum products and a 1.0 percent rise in the manufacture of chemicals and chemical products.

As for other activities, the sub-index for electricity, gas, steam and air-conditioning supply fell by 4.3 percent year on year. In contrast, the sub-index for water supply, sewerage, waste management and remediation activities rose by 10.2 percent compared with November last year.

Compared with October 2025, the electricity, gas, steam and air-conditioning supply sub-index dropped sharply by 28.6 percent, while the water supply, sewerage, waste management and remediation activities sub-index declined by 3.1 percent.

Business

India and Germany Sign Deals to Deepen Economic and Security Ties

German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)
German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)
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India and Germany Sign Deals to Deepen Economic and Security Ties

German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)
German Chancellor Friedrich Merz, left, shakes hands with Indian Prime Minister Narendra Modi following a joint statement to the media in Gandhinagar, India, Monday, Jan. 12, 2026. (AP)

Indian Prime Minister Narendra Modi and German Chancellor Friedrich Merz met on Monday in western Gujarat state to push for deeper economic and security ties between the South Asian nation and Europe’s largest economy.

Modi and Merz held talks in the city of Gandhinagar, where the two countries signed various agreements to enhance cooperation in the defense sector, skill development, health and education, as both nations seek to reduce dependence on China and bolster economic ties.

After the bilateral talks, Modi noted that Germany is India’s most important trading partner in the European Union and said both leaders were seeking to expand those ties.

He said the two countries are pursuing new projects in areas such as climate action, energy and mining of rare earth elements, and have also agreed on a road map to boost cooperation between their defense industries for joint development and production.

“We want to elevate the relations between India and Germany to an even higher level,” Modi said.

Germany has not traditionally had close defense ties with India, but the two sides have been trying to boost cooperation in the sector. Germany’s Thyssenkrupp is expected to partner with Indian firms to build six advanced conventional submarines in India, part of New Delhi’s ongoing efforts to modernize its naval capabilities.

Merz said India and Germany share “tremendous economic potential,” and the two countries are working together to strengthen ties in the field of security policy and defense cooperation.

“India is a desired partner, a partner of choice for Germany,” Merz said, according to a live official translation. He added that negotiations on a free trade agreement between India and the EU need to be concluded to fully realize the potential of economic ties between the two countries.

The two sides also signed an agreement that makes it easier for Indians to work in Germany's health care sector.

Merz’s visit to India — also his first to an Asian country since he took office last year — comes ahead of a planned India-EU summit later this month, where leaders hope to make progress on a long-pending free trade agreement. India hopes to deepen economic engagement with Europe in the face of US tariff rates of 50%.

During his visit, Merz toured the Sabarmati Ashram, once home to independence leader Mahatma Gandhi, and attended the International Kite Festival at the Sabarmati riverfront. Modi and Merz flew kites during the event.