China and the United States have agreed to extend their trade truce until January 10, 2027, while moving toward tariff reductions covering about $60 billion worth of goods. The agreement is intended to provide businesses with greater stability as Beijing and Washington continue negotiations on trade and economic issues.
Global oil markets remain highly volatile as traders assess the impact of the Iran war, security risks around the Strait of Hormuz and possible US-Iran diplomatic progress. Oil prices recently moved higher after attacks raised concerns about supply disruptions, while hopes for a truce have put downward pressure on crude prices.
New Zealand’s central bank has warned that continued increases in global oil prices could keep inflation higher than previously expected. At the same time, the bank expects the country’s economic recovery to strengthen, supported by exports and gradually improving household spending.
Alibaba has announced plans to develop future Qwen AI models with between 5 trillion and 10 trillion parameters, potentially making them several times larger than its current flagship model. The Chinese technology giant has also introduced a new AI chip designed to support the next generation of large-scale AI systems.
The United States has approved a potential $24.3 billion sale of 48 F-35 stealth fighter jets to Saudi Arabia. The proposed deal still requires approval from the US Congress and could strengthen Saudi Arabia’s air defence and military cooperation with Washington.
Pakistan’s federal government has introduced fresh austerity and fuel conservation measures amid rising international petroleum prices and Middle East tensions. Fuel allocations for official vehicles have been reduced by 50% for three months, while government spending, foreign travel and vehicle purchases face new restrictions.