Chinese demand for foreign luxury cars is waning as customers opt for more affordable Chinese brand models, often sold at big discounts, catering to their taste for fancy electronics and comfort. That is bad news for European carmakers like Porsche, Aston Martin, Mercedes-Benz and BMW that have long dominated the upper reaches of the world’s largest auto market. A prolonged prop...

US start-up OpenAI’s launch of ChatGPT on November 30 three years ago sent China’s technology industry scrambling to get up to speed on the latest artificial intelligence developments. Chinese government authorities sent urgent requests to various experts, including professors from Tsinghua University, to provide briefings on the implications of generative AI technology, accordi...

A record 32,000 entrepreneurs took part in the 2025 African Business Heroes summit in Rwanda on Saturday, in the seventh annual edition of the largest event for start-ups of its kind on the continent. The event, organised by the Jack Ma Foundation since 2018 and sponsored by Alibaba Philanthropy, aimed to recognise 100 outstanding entrepreneurs over the course of 10 years. Appli...

The European Union will start collecting a three-euro flat fee for each small parcel valued below €150 (US$176) sent directly from a non-EU country to customers in the bloc, following a decision adopted by the EU finance ministers meeting in Brussels on Friday. The move, set to kick in next July, marks a milestone in Europe’s fight, led by France, against the influx of small par...

Mexican President Claudia Sheinbaum on Thursday defended her government’s decision to impose new import tariffs, hours after the Senate approved legislation allowing duties of up to 50 per cent on more than 1,400 products from Asian countries. The measure, widely seen as aimed at curbing Chinese imports, comes as Mexico prepares for a review of its trade agreement with the Unite...