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US dollar drops to lowest since 2021 against euro, sterling

US dollar drops to lowest since 2021 against euro, sterling

The Standard26-06-2025
Strategists at Morgan Stanley forecast the Dollar Index to drop to a level last seen during the COVID-19 pandemic by mid-2026. Photo by REUTERS
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‘Global approach' to AI regulation urgently needed, UN tech chief says
‘Global approach' to AI regulation urgently needed, UN tech chief says

South China Morning Post

time5 hours ago

  • South China Morning Post

‘Global approach' to AI regulation urgently needed, UN tech chief says

The world urgently needs to find a global approach to regulating artificial intelligence, the United Nations' top tech chief said this week, warning that fragmentation could deepen risks and inequalities. Doreen Bogdan-Martin, head of the UN's International Telecommunications Union (ITU) agency, said she hoped that AI 'can actually benefit humanity.' But as concerns mount over the risks posed by the fast-moving technology – including fears of mass job losses, the spread of deepfakes and disinformation, and society's fabric fraying – she insisted that regulation was key. 'There's an urgency to try to get … the right framework in place,' she said, stressing the need for 'a global approach.' Her comments came after US President Donald Trump this week unveiled an aggressive, low-regulation strategy aimed at ensuring the United States stays ahead of China on AI. Among more than 90 proposals, Trump's plan calls for sweeping deregulation, with the administration promising to 'remove red tape and onerous regulation' that could hinder private sector AI development.

Global AI regulation urgently needed, UN tech chief says
Global AI regulation urgently needed, UN tech chief says

South China Morning Post

time7 hours ago

  • South China Morning Post

Global AI regulation urgently needed, UN tech chief says

The world urgently needs to find a global approach to regulating artificial intelligence, the United Nations' top tech chief said this week, warning that fragmentation could deepen risks and inequalities. Doreen Bogdan-Martin, head of the UN's International Telecommunications Union (ITU) agency, said she hoped that AI 'can actually benefit humanity.' But as concerns mount over the risks posed by the fast-moving technology – including fears of mass job losses, the spread of deepfakes and disinformation, and society's fabric fraying – she insisted that regulation was key. 'There's an urgency to try to get … the right framework in place,' she said, stressing the need for 'a global approach.' Her comments came after US President Donald Trump this week unveiled an aggressive, low-regulation strategy aimed at ensuring the United States stays ahead of China on AI. Among more than 90 proposals, Trump's plan calls for sweeping deregulation, with the administration promising to 'remove red tape and onerous regulation' that could hinder private sector AI development.

Landmark US Chinatown survived Covid, anti-Asian violence – but tariffs pose new threat
Landmark US Chinatown survived Covid, anti-Asian violence – but tariffs pose new threat

South China Morning Post

time8 hours ago

  • South China Morning Post

Landmark US Chinatown survived Covid, anti-Asian violence – but tariffs pose new threat

Oakland Chinatown, one of the oldest in the United States, almost feels as lively as Hong Kong on a busy afternoon. Shoppers squeeze along narrow pavements lined with hanging lanterns and sacks of oranges, while a variety store welcomes customers with racks of clothing and slippers. While many of the shoppers are Chinese, a considerable number could come from anywhere – a sign that Chinatown draws people from the wider San Francisco Bay Area. Despite signs of a recovery since the Covid-19 pandemic and a concurrent wave of anti-Asian violence , businesses report that tariff-induced price hikes on their goods this year – ranging from 20 to 50 per cent – have stalled growth in the 170-year-old district, founded by early Cantonese immigrants. Some of the nearly 300 merchants in the 35-square-block district acknowledge a steady stream of customers – but note that spending has dropped on the likes of ginseng, dried mushrooms, tea leaves and furniture imported from China. A-li Huang, who has run Long Fa supermarket for 29 years, said costs have risen by an average of 50 per cent due to the tariffs. Customers keep coming but buy less to save money, she said. 'If you used to buy three cans of something, now you buy two,' Huang said from her pavement perch surrounded by tubs of green vegetables and elaborately packaged foods.

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