Alibaba launches open-source AI coding model, touted as its most advanced to date
The launch comes amid intensifying competition among Chinese technology companies in the global AI development race, with firms on both sides of the Pacific releasing increasingly sophisticated models. Qwen3-Coder is designed for software development tasks such as code generation and managing complex coding workflows, Alibaba said in a statement.
The company positioned the model as particularly strong in 'agentic AI coding tasks,' automated processes where AI systems can work independently on programming challenges. According to performance data released by Alibaba, Qwen3-Coder outperformed domestic competitors, including models from DeepSeek and Moonshot AI's K2 in key coding capabilities.
The company also claimed its model matched the performance of leading U.S. models, including Anthropic's Claude and OpenAI's GPT-4 in certain areas.
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Mint
19 minutes ago
- Mint
Tata Steel Q1 preview: All eyes on UK business turnaround, cost cuts, and margin expansions
MUMBAI : Tata Sons' chairman N. Chandrasekaran was all praises for Tata Motors Ltd in his letter to shareholders included in the 2024-25 annual report of Tata Sons, the privately held parent company of the Tata group, released last week. Deservedly so. Chandrasekaran shared the performance record of both listed and privately held group companies for the last five fiscal years, which showed the carmaker recorded a 69% revenue increase between 2019-20 and 2024-25. The top commercial vehicle maker's 955% stock-market return ranks among the best within the group. Tata Power Co. Ltd was the top-performing entity, with its shares delivering a return of 1,250%. That makes Tata Steel's impressive 529% return look a shade paler. But the performance of the country's second-largest steelmaker (behind JSW Steel Ltd) is no less commendable. This is especially true as the steel giant nears turning its loss-making European operations profitable, a vision shared by Chandrasekaran at the company's shareholder meeting in June. Higher steel prices surely helped the company. But credit also goes to the company's senior management, led by chief executive T.V. Narendran, who took over the top post eight months after Chandrasekaran assumed the role of Tata Sons chairman in February 2017. Still, Tata Steel's performance over the next 18 months will determine whether it can turn its UK operations profitable by September 2026. The US President Donald Trump-led tariff war and consequent global uncertainty could lead to a correction in steel prices, nullifying the management's efforts. For this reason, all eyes will be on the company's June-quarter results to be announced on 30 July. In the first three months of 2025-26, steel prices rose quarter-on-quarter but were slightly lower year-on-year. Hot-rolled coil (HRC), used in automobile parts and consumer durables, was sold for approximately ₹52,000 per tonne, and rebar, used in infrastructure and housing, for around ₹56,600, according to Antique Stock Broking analysts. Prices had recovered from January lows but dropped about 3% recently due to seasonal factors, as early rains led to slower construction. Rebar is selling at a higher price than HRC, which is good for companies such as Jindal Steel and Power Ltd that make more long steel. HRC prices are also higher than Chinese imports, even after including the 12% import tax, pressuring domestic steelmakers, said the brokerage's 5 June report. Mint lists five major areas to focus on in the company's first-quarter results: Revenue and profitability: Analysts at Systematix Institutional Equities expect Tata Steel's revenues to decline 7% on-year to ₹50,700 crore on weak demand and profits to rise by 72% to ₹1,580 crore due to an increase in steel prices. However, the companies in the sector are likely to report a 20% on-year Ebitda growth led by better cost efficiency, operating leverage, and better steel prices, said the 11 July report. Ebitda is short for earnings before interest, taxes, depreciation, and amortization. Demand and prices: Given the rise in steel prices, coupled with lower input costs, domestic steel producers such as Tata Steel are likely to report an improved Ebitda/tonne in Q1FY26 compared to Q4FY25. Domestic steel prices rebounded during the quarter due to the government's 12% safeguard duty. Analysts at Systematix Institutional Equities believe India will continue to be the growth engine for the ferrous sector. They also expect the safeguard duty to be extended beyond its 200-day period to continue protecting local producers. European operations profitability: The key focus for investors would be Tata Steel's overseas operations, where improved steel prices in Europe are likely to help narrow losses in the UK. Ebitda per tonne is expected to rise to $103, indicating early signs of a turnaround. Cost reduction and margin expansion: The steelmaker achieved ₹6,600 crore in cost savings in 2024-25. The management commentary in the March quarter suggested higher margins across geographies, supported by the 12% safeguard duties and a drop in coking coal prices for the next fiscal year, with a further cost reduction target of ₹11,500 crore in India and Europe. At least one of the brokerage firms said the cost-saving targets are ambitious, and they would factor in only partial cost benefits. Commentary on margin expansion due to safeguard duties and cost cuts would be a key factor to watch. Outlook: Analysts do not expect the India-UK free trade agreement to have any significant impact as the UK's business primarily sources its raw materials from the Netherlands. Tata Steel's outlook for 2025-26 hinges on aggressive cost takeouts and margin recovery. However, the steelmaker is expected to see a squeeze in margins in the next quarter, more than their peers, as prices of both steel and iron ore are on a downward trend. This is because of the fixed costs associated with their mines, which help them earn better margins when things are going well but become a burden during a slowdown.
Indian Express
an hour ago
- Indian Express
To further tech manufacturing, India rethinks China blockade
Nearly half a decade ago, India adopted a 'China-out' strategy of sorts, in response to the border clashes in 2020, introduced an anti-Beijing foreign investment policy, and kept Chinese firms out of critical sectors like telecommunications. Now, however, necessitated by changing geopolitical dynamics, following US President Donald Trump's unprecedented onslaught on global trade, and India's own manufacturing ambitions, New Delhi is undertaking a serious rethink on the existing strategy, and is strongly considering particularly easing China-based entities' entry into the country, with some riders. The most recent sign of the thaw came in the form of a recommendation made by the government think tank Niti Aayog, earlier this month, to ease India's foreign direct investment (FDI) rules, which involves government scrutiny into investments made by Chinese firms. Earlier, the Economic Survey 2023-24 had sprung a surprise by advocating attracting investments from Chinese companies to boost exports. India had earlier put restrictions on investments from China through Press Note 3 in April 2020 to curb potential opportunistic takeovers of Indian companies during the Covid-19 pandemic by making a government approval mandatory for all investments from countries sharing a land border with India, including China. It continued to be in force in the wake of national security concerns due to border tensions after the Galwan clash. Early signs of a thaw There have been some signs that India is slowly, but surely, allowing Chinese companies to partner with Indian entities. Dixon Technologies, which is a major Indian electronics assembly company, received approval from the IT Ministry to set up a joint venture with China-based Longcheer. The new company will focus on manufacturing and supplying a wide range of electronics, including smartphones, tablets, true wireless stereo (TWS) devices, smartwatches, AI-powered PCs, automotive electronics, and healthcare devices. Dixon will hold 74 per cent in the JV, and the remaining 26 per cent will be with Longcheer. 'We can not continue to avoid China. The truth is, they make things which we need for our assembly operations, and if we want to go deeper into the supply chain, our companies have to work with Chinese companies,' a senior government official said. The IT Ministry, earlier this year, notified a Rs 23,000 crore policy for electronic components manufacturing, and it is widely anticipated that Indian firms would partner with Chinese entities to participate in the scheme, given the expertise they have. Recently, India also resumed issuance of tourist visas to Chinese nationals as part of a broader effort to repair bilateral ties. Earlier this month, External Affairs Minister S Jaishankar travelled to China where he had underlined that 'differences should not become disputes' nor should 'competition ever become conflict' and that while India and China have made good progress in the past nine months towards the normalisation of bilateral relations, they should work to address de-escalation on the border. China out in letter, not in spirit, and some repercussions Of course, while the government managed to keep China out in some sectors like finished smartphones, imports from the country continued, particularly for a number of electronic components, which are crucial for the final assembly process in India, but for which New Delhi has little to no production base. The Indian Express had earlier reported that the financial year 2023-24, India imported electronic components worth over $12 billion from China and $6 billion from Hong Kong, with the two accounting for more than half of total such imports to India – suggesting that the country's growing footprint in electronics manufacturing was not necessarily into reduced reliance on Beijing. In the last five years, electronics imports from China and Hong Kong have far outnumbered imports from other major manufacturing hubs like South Korea, Japan, Taiwan, and all ASEAN countries, combined. China, for its own part, and seeing India's growing manufacturing footprint, also imposed restrictions on its companies, making it harder for them to do business with Indian firms. For instance, India's share in US smartphone imports surged to nearly 36 per cent in the first five months of 2025, from about 11 per cent in 2024. China, which continues to dominate the product category, saw its share drop from 82 per cent to 49 per cent over the same period, this paper had reported earlier. China's actions include pulling workers out of India, and making it more difficult for India-based manufacturing companies to obtain capital goods, which are needed for the assembly process. China has also imposed a blockade on several rare earth metals and magnets, and while the prime target of that restriction is the United States, India has found itself caught in the crosshairs. Soumyarendra Barik is Special Correspondent with The Indian Express and reports on the intersection of technology, policy and society. With over five years of newsroom experience, he has reported on issues of gig workers' rights, privacy, India's prevalent digital divide and a range of other policy interventions that impact big tech companies. He once also tailed a food delivery worker for over 12 hours to quantify the amount of money they make, and the pain they go through while doing so. In his free time, he likes to nerd about watches, Formula 1 and football. ... Read More
Time of India
an hour ago
- Time of India
RBI bets on gold! Reserve Bank of India buys half a tonne of gold in June; yellow metal fastest growing component of India's forex reserves
Despite gold generating one of the highest returns in India, the central bank rarely disposes of its gold assets. (AI image) RBI gold reserves: After a relatively conservative spell of gold buying, the Reserve Bank of India (RBI) stacked up almost half a tonne of gold in the last week of June. In India's foreign exchange reserves, gold has shown the most substantial growth in recent years, with its value increasing by more than 80% over five years. The proportion of gold in India's foreign exchange reserves rose to 12.1% as of July 18, 2025, compared to 8.9% on July 19, 2024. The central bank's gold holdings increased to 879.8 tonnes as of June 27, showing a rise from 879.6 tonnes recorded the week before. The addition represents a purchase of 4 quintals during this period. Gold, serving as a protection against inflation, has recently gained substantial institutional support. According to World Gold Council (WGC) statistics, central banks' gold acquisitions exceeded 1,000 tonnes annually for three consecutive years, marking a notable increase from traditional purchasing patterns. "While safety and liquidity constitute the twin objectives of reserve management in India, return optimisation is kept in view within this framework," states the central bank's latest report on foreign exchange reserves. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable; please help! Donate For Health Donate Now Undo Despite gold generating one of the highest returns in India, the central bank rarely disposes of its gold assets. According to central bank data, RBI's most recent gold acquisition occurred in the last week of March. Investment-wise, gold yielded approximately 26% returns during the initial six months of this calendar year in India, as per WGC calculations. Only Turkey surpassed India's returns, exceeding 40%. India's gold returns surpassed those denominated in major currencies like the pound sterling, Japanese yen and euro, as well as the Chinese renminbi, despite China being one of the primary gold consumers. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
