Sustainable development

Major companies back global nuclear energy expansion

Several major companies, including Amazon and Google, have pledged to support the goal of tripling the world’s nuclear energy capacity by 2050.

However, this commitment was made during the CERAWeek conference in Houston, with other signatories such as shale company Occidental and Japanese firm IHI Corp. The World Nuclear Association (WNA) facilitated the pledge and expects more industries, including maritime and aviation, to join in the coming months.

Nuclear energy currently accounts for 9% of the world’s electricity, produced by 439 power reactors. As large tech companies like Amazon and Google pursue nuclear projects, including small modular reactors, the demand for uranium, essential for nuclear technology, has surged.

However, uranium supply remains constrained, mainly coming from Kazakhstan, Canada, and Australia.

With high demand, uranium prices reached a 16-year peak last year, driven by supply disruptions during the COVID-19 lockdowns.

Despite this, global nuclear power generation continues to be concentrated in just a few countries, with 411 reactors in operation as of early 2025, providing a combined 371 gigawatts of capacity.

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Indian police arrest Garantex administrator wanted by US

Indian authorities have arrested Aleksej Besciokov, an administrator of the Russian cryptocurrency exchange Garantex, at the request of the US.

Besciokov, a Russian resident and Lithuanian national, was taken into custody in Kerala on charges of money laundering and violating sanctions. The Central Bureau of Investigation (CBI) said he was planning to flee India, and Washington is expected to seek his extradition.

The arrest follows a joint operation by the US, Germany, and Finland to dismantle Garantex’s online infrastructure.

The exchange, under US sanctions since 2022, has processed at least $96 billion in cryptocurrency transactions since 2019. The US Justice Department recently charged two administrators, including Besciokov, with operating an unlicensed money-transmitting business.

Experts warn that sanctioned exchanges often attempt to bypass restrictions by setting up new entities. Blockchain research firm TRM Labs called the Garantex takedown a significant step in combating illicit finance but emphasised the need for continued vigilance against evasion tactics.

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Singapore fraud case involves $390 million in transactions

Singapore prosecutors revealed on Thursday that a fraud case involving local firms accused of illegally supplying US servers to Malaysia involves transactions worth $390 million.

Three men—Singaporeans Aaron Woon and Alan Wei, along with Chinese national Li Ming—have been charged with deceiving tech giants Dell and Super Micro by misrepresenting the servers’ final destination.

The case has been linked to Chinese AI firm DeepSeek, which is under US scrutiny over the potential use of banned Nvidia chips.

While Singapore authorities confirmed the servers may have contained Nvidia components, they did not specify whether these were the restricted high-end semiconductors subject to US export controls.

Singapore’s Law and Home Affairs Minister K Shanmugam declined to comment on the alleged connection.

Prosecutors claim Wei paid himself tens of millions in dividends, while Woon received a multimillion-dollar bonus. Singaporean authorities are investigating a wider network of 22 individuals and companies suspected of similar fraudulent practices, with six additional arrests made.

The accused are set to reappear in court on May 2, while Malaysian authorities are also probing potential legal violations.

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India plans five-year limit on satellite spectrum

India’s telecom regulator plans to recommend allocating satellite broadband spectrum for around five years to assess market adoption, a move that goes against Elon Musk’s Starlink, which has been pushing for a 20-year permit.

The Telecom Regulatory Authority of India (TRAI) is finalising key recommendations on the licensing timeframe and pricing, opting for a shorter period to monitor industry growth before making long-term commitments.

A government official confirmed TRAI is inclined towards a five-year limit, allowing regulators to review the market and revise spectrum pricing as needed.

However, this decision could impact Starlink’s long-term plans in India, as its deals with Reliance and Airtel are still pending regulatory approvals. Meanwhile, industry forecasts suggest India’s satellite communication sector could expand over tenfold, reaching $25 billion by 2028.

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Zhipu AI raises 500 million yuan amid rising competition

Chinese startup Zhipu AI has secured 500 million yuan (£54.8 million) in funding from the state-owned Huafa Group, following a separate 1 billion yuan capital raise earlier this month.

Huafa Group, a government-backed conglomerate based in Zhuhai, Guangdong province, announced its investment as Chinese cities compete to support AI firms, a sector seen as critical in Beijing’s technological rivalry with the US.

The funding comes amid increasing competition in China’s AI industry, particularly with Hangzhou-backed DeepSeek, whose large language models have gained attention for their cost-effectiveness and performance against Western alternatives.

Zhipu AI, established in 2019 and recognised as one of China’s ‘AI tigers,’ has received investments from major tech firms including Tencent, Meituan, and Xiaomi. The startup was valued at 20 billion yuan (£2.2 billion) in a funding round last July, according to business registration platform Qichacha.

With the new funding, Zhipu AI aims to enhance technological innovation and further develop its GLM foundation model.

However, the company faces challenges on the international stage, having been added to the US Commerce Department’s export control list in January, restricting its access to American components.

Despite these hurdles, China continues to bolster its AI sector as it seeks to establish a leading position in global artificial intelligence development.

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FTC confirms no delay in Amazon trial

The US Federal Trade Commission (FTC) announced on Wednesday that it does not need to delay its September trial against Amazon, contradicting an earlier claim by one of its attorneys about resource shortages.

Jonathan Cohen, an FTC lawyer, retracted his statement that cost-cutting measures had strained the agency’s ability to proceed, assuring the court that the FTC is fully prepared to litigate the case.

FTC Chairman Andrew Ferguson reaffirmed the agency’s commitment, dismissing concerns over budget constraints and stating that the FTC will not back down from taking on Big Tech.

Earlier in the day, Cohen had described a ‘dire resource situation,’ citing employee resignations, a hiring freeze, and restrictions on legal expenses. However, he later clarified that these challenges would not impact the case.

The lawsuit, filed in 2023, accuses Amazon of using ‘dark patterns’ to mislead consumers into enrolling in automatically renewing Prime subscriptions, a program with over 200 million users.

With claims exceeding $1 billion, the trial is expected to be a high-profile battle between regulators and one of the world’s largest tech companies. Amazon has denied any wrongdoing, and three of its senior executives are also named in the case.

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Reliance Jio and SpaceX partner for Starlink in India

Mukesh Ambani’s Reliance Jio has struck a deal with Elon Musk’s SpaceX to bring Starlink satellite internet services to India, marking a surprising turn after months of rivalry over spectrum allocation.

Under the agreement, Jio will stock Starlink equipment in its retail stores, giving the US company direct access to thousands of outlets across the country.

Move like this one comes after New Delhi sided with Musk’s preferred method of spectrum allocation, despite Ambani’s earlier concerns that Starlink could dominate India’s telecom sector.

The deal follows a similar partnership between Starlink and Bharti Airtel, India’s second-largest telecom provider, both of which depend on government approval for operations to begin. While Airtel’s shares dipped slightly after the Jio announcement, Reliance Industries saw a marginal rise in trading.

Starlink, which has been awaiting licenses since 2022 due to national security concerns, is using the agreement as a low-cost entry into India’s fast-growing satellite internet market, expected to reach $1.9 billion by 2030.

For Musk, the stakes in India go beyond Starlink, as he recently secured a deal to open Tesla’s first showroom in the country.

However, high tariffs on imported electric vehicles remain a challenge. Meanwhile, Jio and SpaceX are also exploring other areas of cooperation, while Jio continues its own satellite broadband plans with Luxembourg-based SES.

Despite past disputes, the partnership signals a shift from competition to collaboration in India’s evolving telecom landscape.

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Duffy criticises Verizon over FAA contract delays

US Transportation Secretary Sean Duffy criticised Verizon on Tuesday for delays in its $2.4 billion, 15-year contract with the Federal Aviation Administration (FAA), saying the company is ‘not moving fast enough.’

As the FAA works to upgrade ageing air traffic control systems, Duffy stressed the need for multiple companies to contribute to the effort, adding that the American public ‘can’t wait 10 or 12 years’ for improvements.

Verizon defended its progress, stating it is actively working with FAA technology teams and is open to collaborating with other firms offering complementary services.

Meanwhile, SpaceX’s Starlink denied reports that it aims to take over the FAA contract, saying it could be a partial solution but has no plans to replace Verizon’s role.

The FAA has been testing Starlink terminals in Alaska to improve weather data access, while the Government Accountability Office warns that one-third of US air traffic control systems are outdated and unsustainable.

Some Democrats have suggested shifting the FAA contract to Starlink due to Elon Musk’s ties to Donald Trump, but no official decisions have been made.

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OpenAI launches responses API to boost AI agents

OpenAI has unveiled new tools for developers to build advanced AI agents, stepping up its game amid rising competition from Chinese startups.

The latest offering, called the Responses API, allows developers to create AI systems that execute complex tasks independently. This new tool replaces the Assistants API, which will be phased out by mid-2026.

The launch comes as Chinese startups make rapid advances in AI, with some claiming their models rival or surpass those of leading US firms at a lower cost.

One such company, Monica, recently introduced its autonomous AI agent, Manus, which it says outperforms OpenAI’s DeepResearch agent.

Monica’s rise follows growing recognition of Chinese AI innovations, including DeepSeek, which has impressed Silicon Valley executives.

On Tuesday, Monica announced a partnership with the team behind Alibaba’s Qwen AI models, further intensifying the global AI race.

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ICBC unveils $11 billion innovation fund

China’s Industrial and Commercial Bank (ICBC), the world’s largest commercial lender by assets, has launched an 80 billion yuan ($11.04 billion) technology and innovation fund to bolster the private sector.

The state-owned bank announced that the fund will focus on ‘hard technology’ fields such as semiconductors and advanced manufacturing rather than ‘soft’ technology like internet services.

ICBC chairman Liao Lin emphasised that the initiative aligns with central leadership directives, aiming to turn supportive policies into tangible benefits for private enterprises. The bank described the fund as ‘patient capital,’ indicating a long-term investment strategy rather than a rush for quick profits.

The launch follows China’s recent policy priorities for 2025, unveiled at its annual parliamentary meeting, which stress boosting consumption and achieving technological advances amid ongoing tensions with the US.

Additionally, the government plans to establish a state-backed fund to raise 1 trillion yuan from private investment to support technology startups.

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