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Investments & Funding;AI & Automation;Cloud & Data Center

Alibaba backs ‘world models’ as llms hit physical reality limits

Alibaba Cloud has led a $290 million investment in startup ShengShu to advance ‘general world models’ using video and physical data. The move signals a strategic pivot beyond text-based LLMs, targeting applications in robotics, autonomous driving, and digital-physical integration.

China | 4 days ago

Engineering & EPC

SLB OneSubsea secures CNOOC contract for integrated subsea systems at Kaiping field

SLB's OneSubsea joint venture has been awarded an EPC contract by CNOOC to supply subsea production systems for the Kaiping 18-1 field in the South China Sea. The 20-well project includes standardized trees, manifolds, and control systems, with installation support and regional supply-chain integration.

4 weeks ago • China

Banking

China allocates $44 billion capital infusion to state banks to strengthen financial stability and support technology sector

China plans to inject 300 billion yuan ($44 billion) into major state-owned banks in 2026 as part of broader efforts to reduce financial system risks and expand funding for technology development. The move signals Beijing’s intent to reinforce banking resilience while accelerating strategic industries amid growing geopolitical competition.

1 month ago • China

Pharmaceuticals

Pfizer enters exclusive global agreement with YaoPharma for GLP-1 obesity drug candidate

Pfizer has entered an exclusive global licensing agreement with YaoPharma for YP05002, an oral GLP-1 receptor agonist in Phase 1 for chronic weight management. The deal includes a USD 150 million upfront payment and potential milestone payments of up to USD 1.935 billion.

2 months ago • China;United States

Chemicals & Fertilizers

WACKER and SICO opens organofunctional silanes development centre in China

WACKER and its joint-venture partner SICO Performance Material have inaugurated a 2,300-square-meter application development center in Jining, China, focused on organofunctional silanes. The facility is designed to accelerate additive innovation and commercialization for plastics, coatings and adhesives industries across high-growth Asian markets.

2 months ago • China

Mergers & Acquisitions

JD acquires majority stake in Ceconomy in strategic European retail expansion

JD secures 59.8% stake in German electronics retailer Ceconomy, with total control reaching 85.2% alongside partner Convergenta. The deal, pending regulatory approval, marks JD's strategic move into overseas markets.

2 months ago • China

Latest News

Energy & Power | 3 days ago

EBRD approves USD 65 million for Egypt’s solar-plus-storage infrastructure project

The European Bank for Reconstruction and Development has committed USD 65 million to finance a hybrid 200 MW solar plant and 120 MWh battery storage facility in Aswan, Egypt. This initiative, developed by HAU Energy, marks a critical step in stabilizing the national grid while advancing the country's transition toward a low-carbon energy infrastructure.

Infrastructure | 3 days ago

USACE awards $113.8 million contract to J.F. Brennan for invasive carp deterrents at Brandon road project

The U.S. Army Corps of Engineers has awarded a $113.8 million contract to J.F. Brennan Company for leading-edge invasive carp deterrents as part of the Brandon Road Interbasin Project in Illinois. The award completes Increment I of the ecosystem restoration effort.

Energy & Power | 3 days ago

CoreMarine and Jumbo Offshore win contract for FLNG mooring installation in Argentina

CoreMarine and Jumbo Offshore have secured a contract from Southern Energy S.A. to transport, install, and hook up soft-yoke mooring systems for two FLNG vessels in Golfo San Matías. The project supports Argentina’s gas export expansion, with installations scheduled for 2027 and 2028.

Government & Policy | 3 days ago

NASA awards $76m data science contract to Development Seed for Marshall space flight center

NASA has selected Development Seed for a $76 million indefinite-delivery/indefinite-quantity contract to provide R&D services to the Office of Data Science and Informatics at Marshall Space Flight Center. The contract includes a two-year base period with three one-year options through June 2031.