Brazil has imposed new tariffs on various imports from China, including a 35% tariff on fibre optic cables and a 25% increase on iron and steel products. The Foreign Trade Chamber Executive Committee (Gecex) justified these tariffs by citing a ‘significant increase in imports that harmed national production.’
Furthermore, most tariffs will remain in effect for approximately six months while the Ministry of Foreign Trade investigates alleged irregular trade practices. The tariff list encompasses a range of items, such as sodium chlorite, metal foils, nebulisers, tarpaulins, PVC laminates, and sewing thread, with a predominant focus on Chinese imports.
Notably, this move coincides with Chinese President Xi Jinping’s upcoming visit to Brazil to sign trade agreements as Brazil joins China’s Belt and Road Initiative. Additionally, Brazilian authorities had previously investigated possible dumping and irregular subsidies related to fibre optics and cables from China; however, the new tariffs are separate from that ongoing investigation.
Despite the significant changes in trade policy, there is uncertainty regarding China’s response to the tariffs. However, analysts suggest an aggressive reaction is unlikely, indicating a complex interplay between economic measures and diplomatic relations.
Russian government spending on iPhones between January and September was four times higher than during the same period last year, according to Vedomosti. Security warnings and restrictions on some officials have not prevented these purchases.
The Federal Security Service (FSB) last year accused the US of using spyware to compromise thousands of iPhones. Although Apple rejected the claim, officials preparing for the 2024 presidential election were instructed to avoid iPhones over espionage concerns.
Contracts for iPhones totalled 6.9 million roubles for the first nine months of 2024, compared to 1.6 million the previous year. Despite the digital ministry banning iPhones for work purposes, officials and institutions continue to procure them.
Demand for the latest iPhone 16 remains strong, with consumers relying on grey-market imports after Apple halted direct exports due to the conflict in Ukraine. Even with higher prices, interest in Apple products across Russia shows no signs of slowing.
Vodafone Greece, in collaboration with the Hellenic Foundation for European and Foreign Policy (ELIAMEP), presented a set of proposed cybersecurity policies to Michalis Bletsas, Governor of the National Cybersecurity Authority. The initiative stems from public opinion surveys conducted by Metron Analysis on the views of Greek citizens and businesses on digital security, and a roundtable discussion at the Delphi Economic Forum’s Center for Cybersecurity.
The project identifies key issues in Greece’s cybersecurity landscape, such as fragmented policies, weak public-private sector collaboration, and a lack of a cybersecurity culture among workers. The proposals aim to improve anticipation, prevention, resilience, and response to cyber threats by reforming Greece’s legislative framework and raising awareness about digital security. Bletsas noted that these proposals align with the European NIS2 Directive, which is currently under public consultation.
Maria Skagou, Vodafone Greece’s Director of Legal and Regulatory Affairs, emphasised the importance of cybersecurity in today’s digital age, stressing the need for risk prevention, staff training, and public awareness to address evolving threats.
Honeywell has formed a partnership with Google to connect AI with industrial data. The collaboration aims to enhance autonomous operations, streamlining processes for Honeywell’s customers.
Google’s Gemini, its advanced AI platform, will merge with data from Honeywell’s Forge platform to automate tasks and shorten project timelines. The first AI-powered solutions will be available in 2025, offering support for engineers, technicians, and warehouse workers.
The partnership seeks to address industry labour shortages by introducing AI tools that boost productivity and efficiency. Automated processes will cut design cycles and process multiple data types, including images, videos, and sensor readings, using Google’s Vertex AI platform.
Honeywell’s CEO Vimal Kapur emphasised the goal of optimising asset performance, improving employee skills, and reducing maintenance costs. The partnership reflects a broader strategy to harness the latest advancements in AI to drive operational improvements.
Vietnam has unveiled a national strategy to develop its semiconductor industry, with a focus on gradually building expertise and integrating it into the assembly, packaging, and testing (APT) stages of the value chain. The goal is to position Vietnam as a global semiconductor hub in the long term. According to a report from The Diplomat, Vietnam’s stable political environment and neutral diplomatic stance are key advantages in attracting foreign investment and partnerships in this sector.
The country’s youthful population also presents a major advantage as labour shortages loom in major semiconductor hubs like the US and South Korea. Investments in education and talent development will help Vietnam strengthen its presence in areas like chip design and research. Partnerships, such as those with Amkor, Cadence, and Synopsys, further support Vietnam’s ambitions to grow in the semiconductor space.
However, the report highlights challenges, including geopolitical pressures to align with either the US or China, competition from other countries like India, Malaysia, and Indonesia, and the need to meet global sustainability standards. Balancing these challenges with the demands of a growing industry will be crucial for Vietnam’s success in becoming a key player in the global semiconductor market.
Spain‘s Santander has launched its digital bank, Openbank, in the United States, aiming to expand its retail presence and fund up to $30 billion in auto loans. As one of the few European banks with a United States retail foothold, Santander hopes this move will help it compete more effectively in the market.
Santander‘s US operations already hold over $45 billion in retail deposits and $60 billion in auto-related loans. The new digital bank aims to reduce funding costs by shifting away from more expensive wholesale funding. Openbank is offering a 5.25% yield on its savings accounts to attract US customers.
Openbank‘s launch is part of Santander’s broader global strategy to become a digital bank with branches, aiming to increase market share in a competitive US banking landscape. The bank has no immediate plans to re-enter the mortgage lending market, focusing instead on its digital offering.
Santander’s CEO for the US, Tim Wennes, emphasised that while hiring for Openbank will be limited, the bank will evaluate partnership opportunities to expand the platform. The digital shift comes as Santander seeks to boost returns from its US operations.
The US government is nearly finalising rules restricting American investments in certain advanced technologies in China, particularly AI, semiconductors, microelectronics, and quantum computing. These regulations are designed to prevent US know-how from contributing to China’s military capabilities following an executive order signed by President Joe Biden in August 2023. The rules are under review by the Office of Management and Budget and are expected to be released soon, possibly before the upcoming US presidential election on 5 November.
The new regulations will require US investors to notify the Treasury Department about specific investments in sensitive technologies. While the rules will ban certain investments outright, they also include several exceptions. For example, some publicly traded securities and certain types of debt financing will not fall under the restrictions. However, US companies and individuals will determine which transactions are subject to the new limits.
Earlier drafts of the rules, published in June, gave the public a chance to provide feedback and proposed banning AI investments that involved systems trained with substantial computing power. The final regulations are expected to provide additional clarity, particularly concerning the thresholds for restricted transactions in AI and the role of limited partners in such investments.
Experts like Laura Black, a former Treasury official, anticipate that the regulations will take effect at least 30 days after release. These measures reflect the US government’s growing focus on curbing China’s access to critical technologies while balancing the need for certain economic exceptions in mutual funds and syndicated debt financing sectors.
The upcoming release will be a significant step in the Biden administration’s broader effort to safeguard US technological advantage and national security interests in the face of growing competition from China.
AI-driven tools are entering wholesale banking, with Intellect Global Transaction Banking introducing the ‘eMACH.ai Cloud’ for the sector. The platform provides banks with a comprehensive suite of services to manage their corporate clients’ complex needs across various industries, supporting both operational efficiency and business growth.
The eMACH.ai Cloud aims to streamline operations by consolidating wholesale banking requirements into one platform, reducing reliance on multiple systems. It offers scalable solutions tailored to different sectors, allowing banks to modernise their operations and meet regulatory requirements.
CEO Manish Maakan highlighted that the platform helps banks reduce costs, unlock new revenue streams, and innovate business models. He stressed the importance of agility in today’s banking landscape, explaining that eMACH.ai empowers banks to deliver greater value to clients while keeping pace with industry changes.
From liquidity management to sustainable finance initiatives, the platform offers tools to address evolving compliance demands and environmental goals. Its integrated design ensures banks can meet both financial and ESG objectives more effectively.
Oppo has revealed ColourOS 15, the latest version of its Android 15-based operating system, promising a more personalised and enhanced user experience. Advanced AI functionalities are at the core of the new software, delivering performance improvements, privacy upgrades, and refreshed design elements.
The new interface will debut with the Find X8 series, featuring updated icons, dynamic lighting effects, and natural light-inspired visuals. Oppo has integrated Aurora and Tidal Engine technology for seamless switching between apps, resulting in faster app installations and a notable 18% boost in responsiveness.
ColourOS 15 introduces several AI-powered tools, including XiaoBu Assistant and Circle to Search. Photography also gets an upgrade with AI image enhancements, offering personality-based adjustments, portrait blur removal, and image upscaling. Additional features enable users to transcribe and summarise notes and voice recordings, as well as add EIS stabilisation for live photos.
The new software will be available across multiple devices, including the Find X7 series, OnePlus 13, and Find N3 Flip. Oppo will begin rolling out the update in November and has already published a detailed roadmap, outlining the release timeline for compatible devices.
Google has enhanced its NotebookLM assistant by introducing a feature that lets users customise AI-generated audio conversations. This update shifts the platform from providing generalised audio summaries to facilitating more focused discussions based on users’ preferences. The tool allows users to guide AI dialogue using specific content, adding precision to audio overviews.
Since launching last month, NotebookLM’s audio overviews have become popular among users looking to digest complex information quickly. With these features, long documents and videos can be summarised into conversational audio snippets. NotebookLM has seen significant traction, with traffic surging by 371% in September, drawing over 3 million monthly visits.
The new ‘Guide the Conversation’ option enables users to give detailed instructions for targeted discussions, such as focusing on niche topics or adjusting the expertise level. Google also introduced a ‘Customise’ button to refine audio overviews further before the AI generates them. This ensures conversations prioritise essential content and align with user intentions.
Google assures users that custom instructions won’t be used to train its AI models, reflecting its commitment to privacy. Alongside the new tools, a ‘Background Listening’ feature allows users to play audio while working within NotebookLM. Additionally, the company has launched a business pilot program, offering select organisations access to advanced features and training.
