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.



Japan, South Korea Say Ready to Act Against FX Volatility

FILE PHOTO: Japan's Finance Minister Satsuki Katayama speaks on the day Japan's Prime Minister Sanae Takaichi delivers her policy speech in the parliament, in Tokyo, Japan, February 20, 2026. REUTERS/Kim Kyung-Hoon/File Photo
FILE PHOTO: Japan's Finance Minister Satsuki Katayama speaks on the day Japan's Prime Minister Sanae Takaichi delivers her policy speech in the parliament, in Tokyo, Japan, February 20, 2026. REUTERS/Kim Kyung-Hoon/File Photo
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Japan, South Korea Say Ready to Act Against FX Volatility

FILE PHOTO: Japan's Finance Minister Satsuki Katayama speaks on the day Japan's Prime Minister Sanae Takaichi delivers her policy speech in the parliament, in Tokyo, Japan, February 20, 2026. REUTERS/Kim Kyung-Hoon/File Photo
FILE PHOTO: Japan's Finance Minister Satsuki Katayama speaks on the day Japan's Prime Minister Sanae Takaichi delivers her policy speech in the parliament, in Tokyo, Japan, February 20, 2026. REUTERS/Kim Kyung-Hoon/File Photo

Japan and South Korea expressed concern on Saturday about the rapid declines in their currencies, saying they were ready to act against excessive foreign-exchange volatility.

Finance Ministers Satsuki Katayama of Japan and Koo Yun-cheol of South Korea "expressed serious concern over the recent sharp depreciation of the Korean won and the Japanese yen," they said in a statement after their annual meeting in Tokyo.

The yen and won have slid as mounting tensions from the US-Israeli war on Iran have driven the dollar higher ⁠on safe-haven demand and ⁠battered the currencies of countries heavily reliant on imported oil.

"Furthermore, they reaffirmed that they will closely monitor foreign exchange markets and continue to take appropriate actions against excessive volatility and disorderly movements in exchange rates," the statement said.

The yen touched its lowest in 20 ⁠months on Friday and is near the line of 160.00 to the dollar that many in the market think might prompt Japan to intervene to support the currency. The won breached a psychological barrier of 1,500 per dollar this month for the first time since March 2009.

Tokyo and Seoul shared the view that significant volatility had emerged in financial markets, including foreign exchange, Katayama told a press conference after the meeting.

"The Japanese government ⁠is ⁠fully prepared to respond at any time, bearing in mind the impact that currency moves may have on people's livelihoods amid surging oil prices, and I believe both sides share that understanding," she said.

Katayama regularly says Japan is ready to act regarding yen moves, although some policymakers privately say that intervening to prop up the yen now could prove futile, as the flood of dollar demand will only intensify if the war persists.


BP Wins US Approval for Kaskida Project in Gulf of Mexico

FILE PHOTO: 3D-printed oil pump jacks and the British Petroleum (BP) logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: 3D-printed oil pump jacks and the British Petroleum (BP) logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
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BP Wins US Approval for Kaskida Project in Gulf of Mexico

FILE PHOTO: 3D-printed oil pump jacks and the British Petroleum (BP) logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: 3D-printed oil pump jacks and the British Petroleum (BP) logo appear in this illustration taken March 2, 2026. REUTERS/Dado Ruvic/Illustration/File Photo

British energy major BP has received approval from the Trump administration to advance its Kaskida project in the Gulf of Mexico, a company spokesperson told Reuters in an emailed statement late ⁠on Friday.

The $5 billion ⁠investment would unlock 10 billion barrels of resources that BP has discovered in the Paleogene fields of the US Gulf, the spokesperson said.

The US Department of ⁠the Interior's approval of Kaskida follows a year-long review of the company's development plan, the statement said, according to Reuters.

Bloomberg News first reported on Friday that the Kaskida project is scheduled to start crude production in 2029. The Kaskida project will follow BP’s 2023 start-up of the Argos project, which ⁠was ⁠its first platform launch in the US. Gulf since 2008 and the first since the Deepwater Horizon disaster.

The explosion of BP's Deepwater Horizon rig in April 2010 killed 11 rig workers and caused $70 billion in damages in the largest oil spill in US history.


S&P: Saudi Arabia’s Robust Economy Guarantees its Ability to Withstand Regional Conflict

King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
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S&P: Saudi Arabia’s Robust Economy Guarantees its Ability to Withstand Regional Conflict

King Abdullah Financial District in Riyadh (Asharq Al-Awsat)
King Abdullah Financial District in Riyadh (Asharq Al-Awsat)

Credit ratings agency S&P Global affirmed Saudi Arabia’s sovereign credit rating at “A+/A-1,” with a “stable outlook” on Friday.

The agency said that the Kingdom was well-positioned to withstand the ongoing conflict in the Middle East.

S&P stated in a press release that “the outlook reflects the Kingdom’s ability to redirect oil exports to the Red Sea port via the East-West oil pipeline, utilize its large oil storage capacity, and its ability to increase oil production post-conflict.”

It noted that “the outlook also reflects our view that non-oil growth momentum and associated non-oil revenues, as well as the government’s ability to calibrate investment expenditure tied to Vision 2030, should support the economy and fiscal trajectory.”

S&P forecast real GDP growth of 4.4% for 2026, saying real GDP growth will average 3.3% per year for 2027-2028.

It said the government diversifying away from oil, economic volatility is starting to decrease--albeit sensitivity to oil remains. “The non-oil sector (including government activities) now accounts for about 70% of GDP, up from 65% in 2018. This structural shift is a key objective of Vision 2030,” the agency noted.

It added that “Saudi Arabia’s substantial asset position should remain a key strength over our forecast period even as gross debt rises.”

The ratings agency noted that before the conflict, the government in Riyadh had already been looking at adjusting spending on diversification projects tied to Vision 2030 to manage plans more in line with available resources.

Saudi Arabia's Vision 2030, the Kingdom's “long-term transformation” plan, has a fiscal policy that is expansive to encourage economic diversification. This has been done despite oil price volatility which has put pressure on public finances.

The agency said: “We expect the authorities will continue to adopt a prudent and flexible approach in this regard, having stressed a commitment to achieving Vision 2030 goals without jeopardizing public finances.”

The US and Israeli war on Iran is causing the Strait of Hormuz to be close to shutting down, forcing regional producers to reduce oil output.