Economy

President Javier Milei’s role in cryptocurrency launch does not translate into a fraudulent scheme, judge says.

An Argentinian federal judge has dropped a criminal investigation into President Javier Milei and his sister Karina Milei over the collapse of a cryptocurrency he promoted online.

Judge Marcelo Martinez de Giorgi issued the decision on Friday, according to court records, ending an inquiry into Milei’s role in the launch of the $Libra token, which crashed after a brief rally.

“The reported events do not constitute a criminal offence,” the judge said in a ruling. He also wrote that investor losses and the rise and fall in the currency’s price were insufficient to establish fraud.

In his ruling, Martinez de Giorgi said that Milei’s institutional standing could have given the launch “greater impact” when he posted about it, but that does not translate into a fraudulent scheme.

Javier Milei recommended the little-known meme coin in a post on X in February 2025. He later deleted the post and denied any link to the cryptocurrency, whose value soon plunged.

The judge also dismissed an investigation into US businessman Hayden Davis, who described himself as a “launch adviser” for the token. Davis has acknowledged that he held close to $100m after the crash and denies any wrongdoing.

“For the first time in history, a President of the Nation was investigated with complete freedom, resulting in absolute proof of his innocence,” read a post shared on X by the official presidential office.

“The question that remains is this: Who will take responsibility for having wasted Argentine taxpayers’ money and the President of the Nation’s time in a failed attempt at an institutional coup?”

Milei’s friendship with Trump

Milei is one of US President Donald Trump’s closest allies. Trump firmly backed him a year ago and has called him his “favourite president”.

Trump made clear the support hinged on a victory for Milei’s party.

“I’m with this man because his philosophy is correct,” he said ahead of a White House lunch with the Argentinian leader last year. “If he wins, we’re staying with him. And if he doesn’t win, we’re gone.”

Earlier this month, Milei urged Trump to emerge stronger from the US midterm elections, saying the vote mattered for the West as a whole.

Austerity at home

Since taking office in 2023, Milei has laid off thousands of state employees, shut ministries, cut subsidies and reduced government-funded programmes. The measures were meant to fight high inflation, which has fallen to about 2 percent a month.

Milei says his plan is working, claiming that Argentina has grown for 27 consecutive months and is expanding at four times its historical rate.

When the coin crashed, Milei said he had acted “in good faith” and accused his political rivals of trying to exploit the situation.

With the US midterm elections approaching, the balance of power in Congress is at stake, and the outcome could shape the legacy of President Donald Trump’s second term. As Republicans face growing voter dissatisfaction, Trump’s record has become a central battleground in the fight to control Congress.

Trump faces mounting challenges, including low approval ratings, an unpopular war in Iran, high inflation and petrol prices, economic uncertainty surrounding his tariff policies, and widespread backlash over his immigration crackdown.

How does Trump’s second term measure up against the promises he made on the campaign trail?

In this interview, Mehdi Hasan goes head-to-head with Steve Cortes, a former Trump campaign adviser, who defends the president’s second-term agenda, including his economic and immigration policies, and Islamophobic rhetoric.

Joining the discussion:

Olivia Troye – Former homeland security and counterterrorism adviser to Vice President Mike Pence
Mike Nellis – Democratic strategist and former senior adviser to Vice President Kamala Harris
Rob Arlett – Former Trump campaign chair and political commentator

For the past four-and-a-half years, the war on Europe’s doorstep has haunted policymakers. Yet they have treated it as a looming threat rather than one already eroding the very foundations on which Europe stands.

Russia’s war has devastated much of Ukraine’s south and east, even as the front lines have shifted only slowly. For Europe, however, the challenge has never been confined to the battlefield. Supporting Ukraine and constraining Russia have tested the continent’s economic resources and political unity. Now, as United States President Donald Trump seeks to force a disadvantageous settlement on Kyiv and repeatedly threatens to withdraw US support, Europe faces the prospect of shouldering even more of that burden alone.

Even if the latest crisis is averted, Europe can no longer assume that Washington will guarantee its security. It must develop the financial capacity to sustain Ukraine’s defence, the industrial strength to defend itself and the economic leverage to constrain Moscow. To meet these challenges, Europe must build a war economy.

The past four years offer lessons in how Europe can finance such an effort, but also warnings about the divisions that could undermine it. The European Union has already been at the forefront of Ukraine’s recent financing, moving from an 18.1-billion-euro ($21bn) share of the G7’s $50bn Extraordinary Revenue Acceleration (ERA) loans in 2024 to finalising a new 90-billion-euro ($100bn) loan this April, one that came without US commitment. Yet internal divisions remain over numerous issues, particularly as they pertain to constraining Russia. This month, the EU adopted its largest-ever round of sanctions listings. But while the measures added a record number of designations, they did little to broaden the scope of restricted activity and did not accelerate the phase-out of Russian energy imports, with pipeline gas imports still permitted until autumn 2027. European leaders have also expressed concern over Trump’s decision to waive new Russia-related sanctions as he seeks to grapple with the costs his foreign policy has wrought.

However, the US-Israel war on Iran has, if anything, shown that Europe’s measures against Russian hydrocarbons could have gone further. Before February, some 20 million barrels per day (bpd) of crude and oil products and roughly 110 billion cubic metres (bcm) a year of liquefied natural gas (LNG) passed through the Strait of Hormuz. By comparison, Russia exported about 6.5 million bpd of oil and products in September, and some 43bcm of LNG last year – about a third of Hormuz’s oil and two-fifths of its LNG. As the crisis continues and Trump seeks additional Russian supplies, Europe must complement its efforts to constrain Moscow with greater investment in its own security.

The first and most important step is to establish a standing framework for joint EU borrowing – not only to finance Ukraine’s continued defence, but also to fund the defence industry Europe will need to sustain its own defence and, if necessary, prevail against future threats from Russia. Crisis begets innovation, as demonstrated during the COVID-19 pandemic, when EU member states pushed past their long-held aversion to mutualised borrowing, creating the 750-billion-euro NextGenerationEU recovery fund in 2020. The EU’s contribution to the ERA loans and this year’s 90-billion-euro facility, both financed by common EU borrowing, extended that logic to wartime finance. But these remain crisis-by-crisis improvisations. Deepening fiscal and capital markets union and building a genuine fiscal-military state would provide the foundations of Europe’s power and its ability to deter and win wars.

The same logic plays out in the US today, where deep capital markets have given companies such as SpaceX, which invested heavily for years before seeing returns, the space to develop technologies such as its Starlink network that have reshaped modern warfare. The importance of this technology is now keenly felt on Ukraine’s battlefields, where Kyiv’s communications have rested on a network subject to the whims of one man, SpaceX CEO Elon Musk. Europe therefore needs the fiscal capacity to fund its own technological development and procurement.

There are understandable jitters about the existing indebtedness of European states such as France and the United Kingdom. However, Russia’s frozen sovereign assets offer a potential way to support further borrowing. Divisions remain over using these assets, with Belgium, which hosts the lion’s share at Euroclear, opposing such a move over fears of Russian legal action and damage to its position in the global financial system. The bloc must come together to share that risk, which is overblown in any case. Not all EU fiscal support needs to come in the form of direct joint debt either. Greatly expanding the EU capital markets union and creating tax-advantaged structures across the region for defence firms and technological innovators may prove even more effective.

Beyond the assets themselves, Europe must also take greater control over its continued economic linkages with Russia. That means intervening far more actively in cases such as that of Austria’s Raiffeisen Bank. In 2025, following a Russian court ruling, more than 2.1 billion euros were taken from Raiffeisen’s Russian subsidiary to compensate Rasperia, a company tied to the sanctioned oligarch Oleg Deripaska. A Vienna court’s ruling last month now paves the way for Raiffeisen to seek compensation from Rasperia’s frozen assets in the EU – using the same sanctions derogation through which Euroclear released some $3bn in 2025. It is precisely this kind of legalised dealing with Moscow that keeps threats like those levelled at Belgium credible: if the Kremlin can seize European assets and prompt the release of Russian-linked assets frozen in the EU, every expropriation becomes a bargaining chip.

Furthermore, the UK and the EU have increasingly made use of measures against circumvention that share some features with US secondary sanctions. Europe should now be more assertive in making it clear that firms helping Russia evade its sanctions risk losing access to European financial systems and markets. US firms will choose Europe over the Kremlin, even if Trump waives more sanctions.

Finally, Europe should seek to reduce US influence over its foreign and security relationships. Speaking in Qatar this week, US Ambassador to Turkiye Tom Barrack said Washington was moving away from its decades-old bargain of security for Gulf oil. Europe may not be able to offer the same level of security, but it can offer a mutually beneficial partnership that addresses both sides’ concerns. And it is Europe that is now stepping up in the Gulf, with the UK and France deploying jets, air defences and refuelling support to help Saudi Arabia against Houthi attacks. Unlike Washington, Europe can promise a deeper partnership in the future and serve as a reliable buyer of Gulf oil and gas exports in exchange for Gulf states doing more to address Europe’s security concerns about Russia through enhanced sanctions compliance and, first and foremost, ending the Kremlin’s role in OPEC plus.

Europe has the means to finance its own security. It must now find the will to borrow for it.

The views expressed in this article are the author’s own and do not necessarily reflect Al Jazeera’s editorial stance.

Tech-heavy Nasdaq falls 2.6 percent as debate rages over whether AI is a bubble.

US tech stocks have dropped sharply amid market jitters over the sustainability of companies’ enormous capital investments in AI.

The Nasdaq Composite, which is dominated by tech firms linked to the AI boom, fell 2.6 percent on Thursday, its steepest fall since the index tumbled 4.2 percent on June 5.

The broader S&P 500 slid 1.21 percent, the benchmark’s biggest drop since a 1.52 percent decline on July 29.

Apart from Apple, each of the “Magnificent 7”, which make up more than one-third of the overall market, saw substantial losses.

Meta dropped nearly 7 percent after it raised its projected capital spending for this year to $135bn to $145bn in its latest earnings report, even as the Facebook parent company’s net profit fell short of expectations.

Amazon fell 4.6 percent, while Nvidia dropped 4.4 percent.

Tesla and Alphabet both fell 3.1 percent, while Microsoft declined 2.2 percent.

Apple rose 1.2 percent.

The sell-off extended to other major tech players, including Intel and Advanced Micro Devices, both of which fell about 8 percent, and Broadcom, which slid 4.3 percent.

Rising oil prices since February, due to the fallout of the US-Israel war on Iran, added to the downbeat mood.

Brent crude futures rose 4 percent on Thursday and continued to climb on Friday morning, taking the international benchmark above $114.20 a barrel, its highest since May.

Stocks slip in Asian trading

Major stock markets in Asia opened lower on Friday, following the losses on Wall Street.

Japan’s benchmark Nikkei 225 fell more than 2 percent in morning trading before recovering some ground, while South Korea’s KOSPI dropped as much as 3.5 percent.

The Hang Seng Index in Hong Kong fell about 0.5 percent.

Jay Goldberg, a senior analyst at Seaport Research Partners in San Francisco, said the swings in the market appeared to be driven more by sentiment than underlying fundamentals.

“In short, nothing has changed. Investors have just decided to be afraid this week. Everyone I speak to points to a different cause for the downfall … It’s just a giant wall of worry,” Goldberg told Al Jazeera.

“There are legitimate concerns about the AI trade, but this level of shift in the markets is driven much more by investor sentiment than any tangible reason.”

US tech companies’ huge investments in AI have stoked intense debate about whether a market bubble is forming similar to the one that preceded the 2000 dot-com crash.

While some Wall Street analysts view current levels of investment in datacentres and graphics processing units as unsustainable, others argue that AI will revolutionise society to a degree that justifies the eye-watering sums involved.

Global AI investment is forecast to reach $2.7 trillion in 2026 and $3.6 trillion in 2027, according to technology insights company Gartner.

On trade, investment and innovation, leaders will work toward conclusion of a Canada-Turkiye Free Trade Agreement.

Canadian Prime Minister Mark Carney and Turkish President Recep Tayyip Erdogan have announced the launch of a Canada-Turkiye Strategic Partnership, backed by a three-year action plan.

“In an increasingly complex global security environment, rising geopolitical uncertainties, and evolving humanitarian challenges, a strong and resilient Canada-Turkiye partnership is essential, providing a foundation to mitigate shared threats and capitalise on new opportunities,” said a statement by the two leaders on Thursday.

This comes as Carney is on a two-day visit to Turkiye, seeking to forge a new partnership as Canada looks to reduce its dependence on the United States.

The partnership’s three-year action plan rests on four pillars: trade and investment; defence and security; energy; and ties between people, the statement said.

On trade, investment and innovation, the two leaders agreed to “work toward successful conclusion of a Canada-Turkiye Free Trade Agreement”, it said. They will also expand bilateral trade and investments in priority sectors including energy supply, defence production, aerospace, and Artificial Intelligence (AI).

On defence and security, the leaders “underlined their intent to deepen bilateral and multilateral cooperation”. They also agreed to “strengthen cooperation in support of peace and security in the Euro-Atlantic region and beyond including Ukraine, South Caucasus, and the Middle East, in particular Gaza”.

Meanwhile, energy ministers from both countries will work on areas such as LNG, nuclear energy and critical minerals.

‘Launching a new era’

Speaking to reporters in Ankara alongside Carney on Thursday, Erdogan said the two countries “hope to increase our trade volume, which currently stands at around $3 billion, to $5 billion initially and then to $10 billion through the steps we will take”.

He said the two sides had agreed to begin free trade agreement negotiations before the end of the year to boost trade and investment, adding that elevating Turkiye-Canada relations to the level of a strategic partnership would not be merely a symbolic step on paper.

“We have today overcome the disconnect that had persisted between Turkiye and Canada for many years. Now we are launching a new era between Turkiye and Canada,” he said.

Canadian and Turkish leaders will convene next month in Ankara for the first round of trade talks, the joint statement said.

Carney is on the first bilateral visit by a Canadian prime minister to Turkiye, although he travelled to Ankara in July to attend the NATO summit.

He was scheduled to meet with Erdogan and other officials before travelling to Istanbul for talks with Turkish business groups as the two countries seek to deepen trade ties.

The Canadian prime minister has sought to diversify partnerships and reduce reliance on the US amid an escalating trade war with President Donald Trump, marked by US tariffs on Canadian goods, retaliatory measures by Canada and statements questioning Canadian sovereignty.

WASHINGTON — President Clinton famously said he could feel voters’ pain over the economy. But these days, when it comes to questions about high prices, President Trump insists that the pain is his.

“They hit me with affordability, and that’s the first time I ever heard the word used,” he complained in Nebraska earlier this month.

The White House leaves Vice President JD Vance to use a softer touch. Last month in Texas, he admitted “there are people out there who are frustrated by the pace of progress.” And during a CBS News town hall on Saturday, Vance said, “I recognize that gas prices are too high right now” and “we’re working on it.”

Depending on which Republican is speaking, Americans are getting a different perspective on how bad things are with the economy. Trump says “the golden age of America is upon us.” Vance walks a tightrope to show that he knows voters are feeling an economic pinch while still selling them on Trump’s agenda.

The disconnect comes as Americans’ confidence in the economy sank to the lowest level in more than a decade this month, the average long-term U.S. mortgage rate jumped this month to its highest level in nearly three years and the unemployment rate ticked up last month.

Recent economic data released this month shows that high gasoline prices are intensifying inflation and more expensive oil and gas have begun to push prices up in other parts of the economy.

While most of Trump’s supporters don’t hold him at fault, some acknowledge that the president’s penchant for salesmanship may not hit the mark.

“I think he talks it up,” said Conda Little, a 76-year-old retiree who went to see Trump in Dalton, Ga., on Friday. “I think Vance is more real.”

Little takes the president at his word that he will achieve a victory over Iran in a way that benefits U.S. consumers back home. But she said it’s impossible to deny the fallout from the conflict.

“Everybody’s real upset about the gas” and “groceries are out of sight,” she said. “It’s hard. It’s really hard,” she said, adding that, “I think that people need to hear the truth.”

‘We need to do more’

Trump is loath to acknowledge concerns. He told reporters earlier this month that he gives himself “an A+ on the government, on economics, on everything.” He has dismissed concerns about high costs, arguing that concerns about affordability are a “hoax.”

“We’re in the golden age of America. So our nation is doing better now than ever before,” he told a crowd in Kentucky on Saturday while campaigning for Republican candidates.

Trump has occasionally acknowledged that gas prices are high, but has called it “a small price to pay” for keeping the country and the world safe with the Iran war.

Trump’s discordant message with one of the top concerns voters are voicing ahead of the midterm elections has seemed heightened by his fixation on beautifying Washington and building a large ballroom at the White House.

During a visit this month to an economically struggling corner of Arizona, he regaled the crowd with the story about how he ended up with a luxury jet gifted by Qatar to use as Air Force One.

Vance, as he crisscrosses the country, is quick to say that the administration has more work to do.

To cast blame, the vice president often says that his administration’s Democratic predecessors put the country in such a deep hole that they need more time to climb out.

To show empathy, he often references his own experience growing up in a working-class family in a Rust Belt town. That’s far different from Trump, who comes from a wealthy family, is a billionaire and even joked during his speeches on Friday and Saturday that if people have lunch at his Mar-a-Lago club, “for $5,000, you’ll get one hamburger and a small dessert.”

Vance, during a CBS News town hall that aired on Saturday, said: “I grew up in a working-class family. When gas prices were high, I know that it made my grandmother suffer, and I’m sure that you’re struggling with it in a variety of ways.”

When asked by the moderator about the mixed message he and Trump are giving on the economy, Vance said Trump was speaking about new investments coming into the country, but said the changes take time.

“We need to do more, and we can certainly do better,” he acknowledged.

Many Trump supporters trust his pitch

Some voters said Trump’s rosy view on the economy turns them away, like Santiago Rodriguez, a 19-year-old Texas college student who will be voting for the first time this year.

Rodriguez, who attended a campaign rally last week for Democratic Senate candidate James Talarico, said he would consider voting for a Republican but not while Trump is in charge because he doesn’t grasp the high cost of living for Americans.

“I think he’s out of touch, I think he’s never seen what a true day as a Texan or anybody in general who is in the working class,” Rodriguez said.

Trump’s most loyal supporters aren’t interested in blaming high prices on anything the president has done.

Cindy Massengill, a 67-year-old who came to see Trump in Dalton, Ga., said she felt he’s doing the best he can.

“I’m positive that he’s got done more than any other president after the mess we were left with Obama and Biden,” she said.

Mary Bunker, a 67-year-old Republican who attended Trump’s Monday rally near Wichita, Kan., said she works multiple jobs, including as a waitress and DoorDash driver.

She feels the pressure of high gas prices, but she likes the tax breaks that Trump signed into law last year and she doesn’t fault the way he speaks about economic concerns.

“I think he’s a very good businessman,” Bunker said. “He’s been in business a long time, so I think he knows what he’s talking about.”

Price writes for the Associated Press. AP writers Bill Barrow in Dalton, Ga., Jesse Bedayn in San Marcos, Texas, and Nicholas Ingram in Park City, Kan., contributed to this report.

The lawsuit argues Trump bypassed Congress and misused a century-old law to impose sweeping tariffs on Canadian imports.

A US food importer is suing US President Donald Trump over his 50 percent tariffs on Canadian goods, arguing he lacks the legal authority to impose sweeping tariffs without congressional approval.

Gellert Global Group, a New Jersey-based company that imports Canadian cheese, filed the lawsuit on Tuesday in the US Court of International Trade in New York.

The company says the tariffs are driving up its costs and disrupting its relationships with suppliers on both sides of the border. Between September 16 and October 11, Gellert had paid more than $520,000 in duties, according to the complaint.

“Gellert Global Group has spent generations building trusted relationships with suppliers, customers and partners across the food industry,” said Thomas Gellert, the company’s co-chief executive officer, in a press release. “These tariffs disrupt those relationships overnight and create costs and uncertainty that ripple through the entire supply chain.”

The lawsuit challenges Trump’s decision to use a Depression-era law to impose tariffs on a wide range of Canadian products, including dairy products, furniture, clothing and wine.

Trump first imposed the 50 percent tariffs over the summer, accusing Canada of discriminating against American-made cars, alcohol and dairy products. He expanded the measures in September, adding more products in response to Canadian retaliatory tariffs.

The lawsuit argues that the law doesn’t apply to the Canadian policies the Trump administration says are discriminatory, since two of them “arose in response to the president’s own tariffs, while the third involves Canadian dairy policy governed by the US-Mexico-Canada Agreement (USMCA)”.

It also questions why Canadian cheese is being taxed over disputes involving alcohol and cars.

“No president should have the power to pull a dormant statute off the shelf and use it to impose sweeping tariffs or import bans without the limits Congress required,” said Sara Albrecht, chairman and CEO of the Liberty Justice Center, a nonprofit legal organisation that filed the suit on Gellert’s behalf.

The White House did not immediately respond to a request for comment, according to the Reuters news agency.

At the centre of the case is Section 338 of the Smoot-Hawley Tariff Act of 1930, which allows the president to impose tariffs of up to 50 percent on imports from countries found to discriminate against American businesses.

The provision had never been used until Trump invoked it this year.

The lawsuit argues that newer laws passed by Congress since then, such as Section 301 of the Trade Act of 1974, require investigations, public comment and other safeguards that Gellert says the Trump administration has bypassed, and that these override Section 338.

“The administration cannot skip those protections by reaching for a 1930 statute that no president had ever used to impose a tariff,” said Jeffrey Schwab, the Liberty Justice Center’s senior counsel and director of litigation.

In addition, the lawsuit says that even if Trump is allowed to use the older law, he hasn’t met its requirements, including waiting 30 days before tariffs can be collected on new products added to the list.

The administration only waited seven days to start collecting tariffs on cheese in September, according to the lawsuit.

Gellert is asking the court to declare the tariffs illegal, stop them from being collected, and order refunds with interest for importers who have been impacted.

The lawsuit marks the fourth major legal challenge to Trump’s tariffs.

In February, the US Supreme Court struck down most of the tariffs he imposed in 2025, and a trade court later ruled against a temporary 10 percent global tariff. A separate challenge to tariffs imposed over alleged forced labour in international trade is still pending.

Riyadh postpones flagship investment conference until 2027, orders government staff to work from home.

Saudi Arabia’s Future Investment Initiative (FII) conference has been postponed until next year, according to a statement on the official website, as deadly strikes by the Iran-backed Houthis against the kingdom continue.

The annual event was due to start next week on October 26 and run through October 29, with a date next year to be announced “very soon”, the statement released on Tuesday said.

FII Institute chief executive officer Dr Maha Bint Mishari Al Saud said the decision “comes from a deep commitment to our partners, members, speakers and delegates”.

“Because this is our landmark tenth edition, we want to ensure it delivers the full scale, extraordinary quality, and unforgettable impact that our community has come to expect and truly deserves,” she said.

Informally dubbed “Davos in the Desert”, a nod to the World Economic Forum’s annual meeting in Switzerland, the state-backed conference showcases the kingdom’s ambitious investment plans in a bid to attract billions of dollars needed to fund its economic transformation away from hydrocarbons towards tourism, sport and technology.

Expected speakers included: Alphabet & Google’s president and chief information officer, Ruth Porat; Goldman Sachs Group chairman and CEO David Solomon; and BlackRock chairman and CEO Laurence Fink, according to the FII website.

Fighting between a Saudi-led coalition supporting Yemen’s internationally recognised government and the Iran-aligned Houthis has escalated in recent weeks.

The Houthis, also known as Ansar Allah, have hit military, energy and civilian infrastructure across Saudi Arabia, including Riyadh’s international airport, killing at least 18 people and injuring hundreds more.

Government staff to work from home

Government agencies in the Saudi capital, Riyadh, have told employees to work from home, one worker and two consultants told the AFP news agency, as the city comes under repeated attack from the Houthis.

The Kingdom Centre, a 99‑storey tower in downtown Riyadh that houses the International Monetary Fund’s regional office, also requested workers stay away until further notice.

On Sunday, an employee of a government agency in the capital received a message saying, “It has been decided to implement remote work from Monday to Thursday this week”. The message added: “We ask everyone to continue their activities as normal.”

Companies based in the King Abdullah Financial District, which hosts offices of major United States firms, have also asked employees to work from home, according to other sources.

US federal prosecutors allege the defendant was in frequent contact with unnamed member of royal family.

An ex-OpenAI engineer accused of planting a recording device in an executive conference room at the AI company appears to have received considerable support from the Saudi government, United States prosecutors have said in a court filing.

Federal prosecutors allege that the defendant, Abdulrahman Alfozan, 35, was in frequent communication with an unnamed member of the Saudi royal family and that a Saudi military official paid for a one-way plane ticket for Alfozan’s wife and young son to return to Saudi Arabia after his arrest, according to the court document, made public late on Sunday.

Prosecutors made those allegations as they asked a federal judge to keep Alfozan in US custody to await trial, arguing he is a flight risk. Alfozan, a Saudi national and lawful permanent resident in the US, is scheduled to appear in federal court in San Francisco later on Monday.

The case has highlighted security challenges around sensitive AI research as companies and governments compete fiercely for an edge in the transformational technology.

“The defendant went to significant lengths to create customized, encrypted recording devices to secretly record highly sensitive meetings involving senior OpenAI personnel and executives, high-level business counterparts, and government officials, all while communicating with individuals of significance in Saudi Arabia and pursuing opportunities in — and making plans to travel to — Saudi Arabia,” prosecutors wrote in a detention memo.

The Saudi government media office did not immediately respond to a request for comment. A lawyer for Alfozan did not immediately respond to a request for comment.

The lawyer, William Pernik, previously asked for Alfozan to be released from custody, subject to conditions including location monitoring and surrendering his passport, and said Alfozan had spent the last 15 years in the US and had applied to become a citizen.

The lawyer said a planned trip by Alfozan to Saudi Arabia this month was booked before he was under investigation and was for “family and immigration reasons”, according to a court filing.

Investigation remains active

US prosecutors charged Alfozan last week with using an electronic device to intercept oral communications. Alfozan plugged a recording device into the back of a television in an executive conference room at one of OpenAI’s San Francisco buildings, according to a criminal complaint.

Meetings involving government officials took place in the conference room around the time the device was installed, according to the prosecutors’ detention memo.

Prosecutors said the investigation remains active and additional charges could be brought against Alfozan.

A member of the Saudi royal family sought to recruit Alfozan for an AI-focused role in Saudi Arabia, writing in one message, “Saudi needs you more then [sic] the US!” Alfozan replied, “100,” according to messages cited by prosecutors.

Before his arrest, Alfozan was scheduled to fly to Riyadh during a planned two-month parental leave. His wife told investigators that she and their son planned to move permanently to Saudi Arabia and that Alfozan eventually intended to join them, according to prosecutors.

In an Arabic-language interview on the Identity Capital podcast last month, Alfozan said that he visits Saudi Arabia three or four times a year, follows developments there and advises or mentors Saudi startups.

He said meeting Prince Mohammed bin Salman, then deputy crown prince, during a 2016 gathering with young Saudi tech workers in Silicon Valley persuaded him to learn at a top tech company before bringing those skills back home.

While Alfozan was working at Facebook, he and other Saudis in Silicon Valley formed a consulting initiative that linked Saudi public- and private-sector organisations with expertise in big data, the internet of things and machine learning.

OpenAI previously said it discovered the device on September 30 and referred the matter to the FBI.

Al Jazeera has reached out to the Saudi embassy for comment.

Chuck Schumer urges FCC to reject petition allowing AI robocalls ahead of key November midterm elections.

United States Senate Democratic leader Chuck Schumer of New York has urged the Federal Communications Commission (FCC) not to approve a petition by the conservative group Club for Growth to allow AI-generated robocalls ahead of the November midterm elections.

“Under this change, campaigns could use their opponents’ voice to send out a message that is, at best, disingenuous and, at worst, a blatant lie,” Schumer said on Monday.

The petition was originally filed on August 31, and the public comment period began on September 4 and expires on Monday.

Earlier this month, Anna Gomez, the Democratic member of the FCC, urged her colleagues not to allow consideration of the petition brought by the national conservative fiscal policy organisation.

Her concerns echoed Schumer’s. “[If] the FCC allows a dark money group to flood Americans’ phones with AI-generated robocalls they never agreed to receive, it would bring chaos so close to Election Day,” commissioner Gomez told the Reuters news agency at the time.

There is precedent for the concerns being raised. In the 2024 presidential election, ahead of the New Hampshire primary, voters received an AI-generated version in the voice of President Joe Biden, the then Democratic incumbent, telling them not to vote. The FCC said that a political consultant working with longshot primary challenger Dean Phillips was responsible.

At the state level, Louisiana, Tennessee and Vermont passed laws this year requiring disclosures for AI-generated campaign phone calls. While robocalls have been used in political campaigns for years, FCC rules prohibit such calls to cellphones without prior consent, but the restrictions do not apply to landlines.

Club for Growth’s president, David McIntosh, in a statement earlier this month, said that the group is asking for “the FCC to treat First Amendment-protected political speech the same way it already treats wireless calls about package deliveries, bank accounts, and doctor’s appointments”.

“There is no one at the FCC that has expressed any interest in moving to an order on this or any of the petitions, and there are zero plans to do so. The FCC seeks comment on petitions that come in as a matter of normal procedure,” a spokesperson for the FCC told Al Jazeera.

WASHINGTON — Asian Americans, Native Hawaiians and Pacific Islander adults have become more disillusioned with President Trump and Republicans as the Nov. 3 midterm elections approach, according to a new AP-NORC/AAPI Data poll, giving Democrats a substantial edge on major issues like the economy and health care.

The survey, which was conducted from Sept. 8-15 by AAPI Data and The Associated Press-NORC Center for Public Affairs Research, reveals that Trump’s standing on the economy has fallen among AAPI adults over the course of his second term.

About one-quarter of AAPI adults approve of the way Trump is handling his job as president overall. Only about 2 in 10 approve of his performance on the economy, which the vast majority of AAPI adults see as one of the most important issues for the upcoming election.

But although AAPI adults trust Democrats more than Republicans on a wide range of issues, views of the Democratic Party itself are still split.

Rebecca Larocco, a 45-year-old Korean American in Corning, Iowa, voted for Trump in 2016 and is leaning Republican in the midterm elections. She approves of his immigration policies but is unsure about Trump’s handling of the economy as the Iran war continues to compound gas prices.

“Where I’m at, it’s went up almost $1.50 (a gallon),” she said. “I didn’t expect to go into war at all, that has been definitely unexpected and I’m not sure… I’m just hoping they’ll do what they’re saying and get our economy back on track, get immigration and crime lowered.”

The economy is a top issue for AAPI adults

The economy remains top of mind for an overwhelming majority of the AAPI adult population when they consider the midterms. With the ongoing Iran war affecting gas prices and other costs staying elevated, Americans overall are deeply pessimistic about the state of the economy and see it as a high priority for the midterms. That includes AAPI adults — according to the poll, about 9 in 10 rank the economy as one of the most important issues for the upcoming election, and about 8 in 10 say this about the cost of living.

The economy, the cost of living and healthcare dwarf other issues for AAPI adults. About 7 in 10 AAPI adults say healthcare is one of the most important issues for the election, while only about half say this about foreign policy, crime, immigration, election fairness or climate change.

At the same time, Trump’s economic approval among AAPI adults has dropped about 10 percentage points over the course of the year, and there are other signs his popularity has waned with this group. In late 2024, just after the election, about 4 in 10 AAPI adults had a “somewhat” or “very” favorable view of Trump. That’s fallen to about 3 in 10 now.

“What the data show is that any gains that he made not only during the 2024 election — there was a bit of a honeymoon period that Trump enjoyed after the election before Inauguration Day — that has now largely disappeared,” said Karthick Ramakrishnan, founder and executive director of AAPI Data.

Len Takahashi, 57, of Universal City, Texas, describes himself as conservative but voted for Democrats in the last three presidential elections and for Republicans in midterm elections. For this midterm election, he is simply open to candidates who prioritize the economy.

“I would like policies that look in the best interest of the American public,” said Takahashi, who is Japanese American. “That could be bringing down spending, a balanced budget of U.S. spending, bringing down inflation, working towards a more stable economy and, lastly, just a better atmosphere between the far left and far right.”

AAPIs trust Democrats more on most issues but are not entirely sold on the party

Democrats have gained at Republicans’ expense since Trump returned to the White House when it comes to AAPI adults’ trust in handling many key issues.

In a March 2025 poll, AAPI adults were evenly divided over which political party would better handle the economy and immigration. Now, Democrats have a roughly 20-percentage-point advantage on both issues.

Meanwhile, around two-thirds of AAPI adults have a “somewhat” or “very” unfavorable view of the GOP. Only about one-quarter have a “somewhat” or “very” favorable view.

But while trust in the Democrats on specific issues has increased, AAPI adults are ambivalent about the party as a whole. About half, 48%, of AAPI adults have a “somewhat” or “very” unfavorable impression of the Democratic Party, while 44% have a “somewhat” or “very” favorable impression.

A separate AP-NORC survey of registered voters in September found, similarly, that while voters in general are deeply dissatisfied with Trump and the GOP, few think either party is capable of solving important problems.

Louise Rider, 40, is a Democrat living in Chicago. She believes Democrats are better than Republicans across all issues but says she’s unhappy with how the party has governed.

“I don’t think the Democrats are doing great, I think they need a lot of change as a party,” she said. “It’s kind of a helpless feeling, that nothing will get done with both parties unless there’s major changes.”

Some Republicans still stand behind Trump. James Finley, 74, of Lenox, Massachusetts, said Trump deserves some understanding because he cannot bring down high prices overnight. When it comes to Republicans in general, Finley is a little more critical.

“They’ve had the majority for a couple of years,” said Finley, whose ancestry includes Japanese heritage. “I think they could have done a little bit more or maybe a lot more in terms of passing certain things that I wanted to pass.”

Still, he sticks to the party line and because “all I ever hear from Democrats is to get Trump,” Finley said.

AAPIs concerned about fair midterm elections

As the election approaches, many AAPI adults are worried about problems with misinformation, legal challenges to the results, and voter suppression. About half of AAPI adults say it’s a “major problem” in U.S. elections that people who are eligible are not allowed to vote, while about two-thirds see foreign government attempts to influence results as a “major” problem.

Looking ahead to the November election, about half of AAPI adults are “extremely” or “very” concerned about fake or false information about the candidates, and about half also feel this way about legal challenges to the election results.

Finley is unsure if the voting process can be tightly monitored to prevent undocumented or unregistered people from attempting to vote.

But Takahashi, the conservative from Texas, is worried that Trump will try to manipulate the election.

He’s concerned, he said, that Trump would amplify claims of “fraud in the election system” should the midterms not go in his favor. “(He’ll) make that a point to distract the American public,” he said.

Tang, Jiang and Sanders write for the Associated Press. Tang reported from Phoenix and Jiang from New York. The poll of 1,023 U.S. adults who are Asian American, Native Hawaiian and Pacific Islander was conducted Sept. 8-15, using a sample drawn from NORC’s probability-based Amplify AAPI Panel, designed to be representative of the Asian American, Native Hawaiian and Pacific Islander population. The margin of sampling error for all respondents is ±4.7 percentage points. This poll is part of an ongoing project exploring the views of Asian Americans, Native Hawaiians and Pacific Islanders, which are usually not highlighted in other surveys because of small sample sizes and lack of linguistic representation.

GDP growth picks up from Q2 amid AI-driven boom in exports.

China’s economy has grown faster than expected in the most recent quarter amid booming exports underpinned by artificial intelligence, according to official figures.

China’s gross domestic product (GDP) expanded 4.5 percent in the July-September period from the same quarter a year earlier, picking up from 4.3 percent growth in the second quarter and beating most analysts’ forecasts, figures released on Monday by the National Bureau of Statistics showed.

During the first nine months of the year, GDP grew 4.6 percent year-on-year, according to the preliminary figures.

While China’s technology-related exports have surged during the AI boom, growth in the world’s second-largest economy has been dampened by weak domestic demand and a sagging property market.

China’s ruling Communist Party has set a GDP growth target of 4.5 to 5 percent for 2026, which would be among the slowest expansions in decades, excluding during the COVID-19 pandemic.

Chinese exports surged more than 16 percent in the first three quarters of the year to reach 23.19 billion yuan ($3.47bn), according to the official data, largely due to strong demand for semiconductors and other tech-related goods.

Retail sales, a key measure of domestic consumption, increased 1.1 percent year-on-year in September and 2.6 percent during the first nine months of 2026.

Industrial production, which measures output in sectors such as manufacturing and mining, rose 5.5 percent in September, taking growth in the first three quarters to 5.3 percent.

Investment in fixed assets, which covers spending on real estate, factories and machinery, edged up 0.7 percent last month but contracted 7.2 percent during the January-September period.

Zhiguo He, a finance professor at Stanford University’s Graduate School of Business who studies the Chinese economy, said that while China’s economy is on track to hit official targets, Beijing will be wary of the continuing reliance on export-driven growth.

“I expect Beijing is getting 4.5 percent as wanted,” He told Al Jazeera.

“A managed slow slowdown is the best Beijing can hope for,” he said.

“Real estate is still shrinking. This is what Beijing wanted and a good thing, and China’s households have been adapting their expectations based on this.”

Protests are sweeping France as anger over conditions in schools meets frustration with high living costs and a government accused of doing little to address problems facing people.

Protests are sweeping France as anger over conditions in schools meets frustration with high living costs and a government accused of doing little to address problems facing people.

About 550,000 people demonstrated nationwide on Saturday, according to the Interior Ministry. Most marched peacefully, while a small minority attacked buildings, looted shops and clashed with police, who fired tear gas and charged protesters.

Prime Minister Sebastien Lecornu said 1,200 people were arrested and 150 police officers were injured. Behind the confrontations lies a political crisis, fuelled by anger at deteriorating services and overstretched household budgets, and compounded by a sense that France’s political institutions offer little hope of change.

Here is how school blockades became a nationwide movement – and what that means for President Emmanuel Macron.

How have the protests spread, what are protesters demanding?

The movement began last month in high schools in Paris’ working-class northern suburbs, where students protested against teacher shortages and poor facilities. School blockades and demonstrations later spread to cities including Bordeaux, Rennes, Nantes, Lyon, Lille and Marseille.

Saturday brought together students and trade unions, alongside supporters of the “yellow vest” movement that emerged in 2018 to challenge rising living costs and economic inequality.

Emile Chabal, a professor of contemporary history at the University of Edinburgh, told Al Jazeera the demonstrations were “the logical outcome of a series of protests” stretching back to the yellow vests.

That movement was driven by financial pressures and resentment at “the French presidential system”, he told Al Jazeera, alluding to a structure which often leads to the election of a centrist candidate, such as President Emmanuel Macron.

Saturday combined those longstanding grievances with students’ anger at deteriorating state schools. The yellow vests had demanded better public services.

Bringing students’ grievances together with wider social demands, therefore, represented “the worst possible outcome for the French government”, Chabal said.

Students’ immediate demands concern conditions in France’s lycees (public high schools), which generally educate pupils aged 15 to 18. They want smaller classes, enough teachers, better buildings and less exhausting timetables. Their complaints also reflect broader concerns about whether the state can provide the education and opportunities young people need.

But for workers, including school staff, the dispute also concerns wages and the resources available to deliver public services.

The school protests coincided with a nationwide public sector strike against the government’s budget plans. Bringing all these concerns together under one umbrella represented “the worst possible outcome for the French government”, Chabal said.

It comes as the proposed 2027 budget includes a 54 billion euro ($60.8bn) package of cost-cutting and tax measures, which the government says is necessary to reduce France’s deficit. The proposals include freezing the pay scale used to calculate civil servants’ basic salaries, which unions say would be the fourth consecutive annual freeze.

Donatella della Porta, a sociologist and political scientist, said students were inspiring wider mobilisation around inequality, cuts to public investment and democratic rights, with demands for social welfare spending rather than militarisation.

“They do not want to fight wars; they want a different future,” she told Al Jazeera.

She also linked the movement to young people’s mobilisation over Gaza, with Palestinian flags appearing at demonstrations across several European countries.

How has the government responded?

The government has focused its immediate response on public order, with President Macron saying those responsible for violence would be “prosecuted and punished”.

His comments came as a fire largely destroyed the historic town hall in the city of Limoges, while public buildings and shops were attacked elsewhere.

But those involved in violence represent only a small minority of the much larger mobilisation. Jean-Luc Melenchon, leader of the left-wing France Unbowed party, has accused the government of repressing school students and allowing the confrontation to intensify.

His argument reflects a wider political dispute about whether the government treats the protests chiefly as a security problem or addresses the grievances that have brought different groups together.

Experts say France’s problems extend beyond disagreement over individual budget measures and reflect deeper discontent. Emile Chabal, from the University of Edinburgh, said political paralysis since the 2024 parliamentary elections, which left no bloc with an outright majority, had created “an environment in which no political party or movement is able to channel social discontent”.

That fragmentation makes it difficult to build a durable agreement on spending, taxation or public services. It also leaves protesters questioning whether changing governments produces meaningful changes in policy.

The protests are also “a tough blow for Macron”, Chabal said, whose promises of youthful energy and a reformed, dynamic France have been undermined by “his inability to articulate his political project and his deeply unempathetic persona”.

Chabal added that the unrest included violence sometimes seen on the fringes of French demonstrations, with direct-action tactics associated with the yellow vests. Targets included shops and, more unusually, public buildings. He described the destruction of Limoges’ town hall as particularly significant because of its place in France’s civic history.

Other researchers emphasise the role of policing. Guya Accornero, a specialist in social movements at Lisbon’s University Institute, said previous confrontations had created lasting tensions between protesters and police.

During the current protests, a 15-year-old lost a hand to a police stun grenade, while a 14-year-old suffered a shattered jaw after being struck by a tear gas canister fired at close range, according to Human Rights Watch. The organisation condemned excessive force against children, saying the demonstrations had been overwhelmingly peaceful.

“Young people have been violently repressed also when using non-disruptive tactics,” she told Al Jazeera.

Who could benefit politically?

There is no clear answer from the experts who spoke to Al Jazeera. Paul Smith, an associate professor in French history and politics at the University of Nottingham, believes far-right leader Marine Le Pen stands to gain.

“I see only one beneficiary and that’s Le Pen,” he told Al Jazeera, suggesting the unrest could also damage Melenchon’s presidential prospects.

Chabal cautioned against assuming a far-right gain, but he said fear of disorder had historically benefited conservative or centrist parties in France, including after the 1968 protests.

Le Pen has not entirely dismissed the protesters’ grievances, describing them on X on Saturday as “legitimate social demands”, while claiming they had been “held hostage by the far left”.

The far-right may seek to reap the rewards of public discontent, but experts say it is more likely to channel that anger towards immigration and the scapegoating of migrants, rather than blaming the structures of neoliberalism and capitalism for the protesters’ woes, as Melenchon has suggested.

With a presidential election due in April 2027, candidates face competing pressures, demonstrating that they can restore order while convincing voters they will address the conditions behind the mobilisation.

The challenge, Chabal said, is how to create change in “an environment in which no political party or movement is able to channel social discontent”.

Paris, France – France is counting the cost of a day of unrest after hundreds of thousands of people took to the streets nationwide, in the largest mobilisation since protests over education reforms and the cost of living began last month.

At Place de la Republique, in the heart of the French capital, people on Sunday surveyed the previous day’s destruction in dismay: smashed windows, gutted buildings, looted shops.

“I find it unacceptable – absolutely unacceptable,” said Rabah, who has been living in Paris for more than 70 years. “Back in the day, we also demonstrated, but peacefully,” he said.

Staring at the burned skeleton of what used to be a newspaper stand, 56-year-old Claire was also shaken. “I love Paris so much, and seeing it like this makes me furious,” she said. “It’s absolutely appalling. I’m actually quite overcome with emotion.”

Nearby, the statue of Marianne, the symbol of the French Republic, was covered in graffiti. “Those who sow misery reap anger,” read one inscription.

The student-led protests began in mid-September, caused by grievances ranging from overcrowded classrooms and teacher shortages to systemic inequality and a lack of opportunity.

The movement quickly spilled out of the schoolyards and into the streets, tapping into broader social and economic anxieties.

On Saturday, these complaints converged in a mobilisation that saw a nationwide turnout of 550,000 people, according to authorities; unions and organisers put the estimate at 800,000.

But while the vast majority of demonstrators rallied peacefully, the scale of the violent unrest threatened to eclipse their message. In Paris, there was also heavy use of tear gas and stun grenades by the police, including before the start of the march, which set the tone for a tense day.

“I marched from the 10th arrondissement town hall to Place de Clichy. I was there from start to finish, and it was very peaceful – just all kinds of people, all of them nonviolent,” said Stephanie, a 23-year-old Parisian student.

“But once again, the violence was so spectacular that the actual message – the reasons behind the protesters’ grievances – was never conveyed,” she said.

Macron to address nation

French President Emmanuel Macron, whose second and final term ends next year, will give a televised address to the nation at 18:00 GMT on Sunday after meeting government ministers, his office announced.

Interior Minister Laurent Nunez said nearly 1,800 people had been arrested – almost half of them in Paris – and more than 500 police officers, gendarmes and firefighters had been injured in the unrest.

“Protesting is a fundamental right. Causing disorder through violence and in a concerted manner is not,” he said on Sunday.

During Saturday’s protest in Paris, Al Jazeera saw groups of black-clad, masked young men smashing shop windows with what appeared to be golf clubs before fleeing with bags of stolen goods.

In Marseille, France’s second-largest city, dozens of shops were looted and a group of people broke into the city hall before being forced out.

“Students and others have real claims they want to air which no one is listening to now because idiots are smashing everything,” said Benoit Payan, the city’s mayor.

In Limoges, footage showed flames engulfing the city hall as the fire spread through the historic building. Public buildings were also damaged in Bordeaux and other cities.

Police conduct has also come under scrutiny. France’s police inspectorate, the IGPN, had opened 36 investigations into alleged police violence since the high-school protests began, according to figures released by the Ministry of the Interior on October 13. The figure predates Saturday’s demonstrations.

Human rights lawyers have described some of their clients’ injuries as comparable to those seen in conflict zones. These include a minor who has lost his hand, another with his jaw smashed and a third pupil who lost sight in one eye.

“There is an increasingly systematic use of crowd-control measures that would normally be reserved for much more serious situations,” said Christophe Calvao, president of the Paris Young Lawyers’ Union. “This only serves to inflame tensions and make people even angrier.”

The government now faces the challenge of responding to widespread social discontent while trying to pass a budget aimed at bringing France’s public finances under control.

Prime Minister Sebastien Lecornu wants to reduce the country’s deficit through spending restraint and tax measures – a move that will likely deepen public anger. Cuts to France’s generous welfare system have traditionally faced strong public resistance.

All of this takes place in a highly toxic political environment as parties harden their positions ahead of next year’s presidential election.

Jean-Luc Melenchon, the leader of the left-wing France Unbowed party and potential presidential contender who has sought to appeal to young voters, accused the government of fuelling the unrest.

“In Paris, aberrant leadership has opened the door to chaos. Those in charge no longer know what to do; the rank and file are afraid and are running wild,” he said.

Lecornu hit back. “This is YOUR political responsibility,” said the prime minister on social media, accusing far-left groups of orchestrating the violence.

Egyptian president pledges ‘any measure’ to help defend Saudi Arabia ‘if it is requested of us’.

Egypt’s President Abdel Fattah el-Sisi has called for an emergency parliamentary session to authorise him to approve any requests from Saudi Arabia for defence assistance, if Riyadh were to ask.

Speaking at a graduation ceremony at the Egyptian Military Academy on Saturday, el-Sisi emphasised Cairo’s readiness to back the kingdom.

Egypt will “carry out any measure to protect” Saudi Arabia “in accordance with the directives of His Majesty King Salman and the directives of the Crown Prince, Mohammed bin Salman”, he said.

“I know that this matter requires the approval of the Egyptian parliament, and I hope that parliament will convene in an emergency session to give us this authorisation, if it is requested of us,” he said.

“I am not speaking in order for us to fight anyone or attack anyone. I am speaking only for defence.”

Attacks on Saudi Arabia

The request follows a barrage of attacks on the kingdom from Yemen’s Iran-backed Houthis, including airports and oil facilities.

Recent Houthi strikes on Saudi Arabia have mainly targeted key infrastructure on the outskirts of the capital, Riyadh, but they appear to be edging closer to the city centre.

Houthi attacks on Riyadh’s King Khalid International Airport earlier this month killed 14 people and wounded more than 300. Houthi attacks have also been reported on other airports, including Dammam, Abha, Jazan and Najran.

Yemen’s Saudi-backed, internationally recognised government launched a full-scale military campaign against the Houthis this month to recapture territory seized by them.

El-Sisi had backed Saudi calls for secure and unhindered navigation in the Red Sea in a meeting with the Saudi Crown Prince, known as MBS, in Cairo last month.

A statement from the Egyptian presidency then said that “the security of Saudi Arabia and the Gulf states is an integral part of Egypt’s national security”.

Red Sea security

That meeting came just days after the Houthis seized Yemen’s Red Sea coast, gaining significant control over the Bab al-Mandeb strait, the southern gateway to the Suez Canal.

Saudi Arabia already has a defence pact with Pakistan and Turkiye, known as the Mecca Alliance for Defence, which was signed in August.

Earlier this month, the three countries agreed to activate “deterrence measures” under the pact and rapidly deploy forces to the Gulf kingdom to counter attacks by Yemen’s Houthis.

Analysts say Riyadh is looking for help to protect the kingdom and Red Sea shipping and that Egypt, whose Suez Canal revenue depends on the same traffic, is an obvious partner.

They say Egypt is eager to prevent Iran and its allies from imposing control over the region, especially over maritime traffic in the Red Sea, given the direct repercussions for the Suez Canal.

Saudi Arabia has accused Iran of encouraging Houthi attacks against the kingdom, a claim Tehran rejects. Iran has offered assistance to halt the conflict between the two sides.

Manila, Philippines – Keith Cantera and his family have been thinking about having their own solar power grid at home for years. But spending up to $5,000 for solar panels was nothing to scoff at, so they put the idea on the back burner.

It all changed this year when the United States-Israel war on Iran rattled global energy markets and sent electricity prices soaring. From paying a monthly bill of about $150 before the war began in late February, Cantera said his family went to forking out as much as $220.

Eight months later, they are having solar panels installed on their rooftop.

“The cost is about the same as paying our electric bills for three or four years based on the current rate,” Cantera said. “But in the fifth year, we’ll have recovered our investment, and electricity will essentially be free.”

Cantera is one of a growing number of Filipino homeowners turning to solar power in a country that had Southeast Asia’s highest electricity costs even before the war. They were comparable only to Singapore, where the average income is more than 10 times higher.

A report by the energy think tank Ember estimated that rooftop panels had nearly doubled in the Philippines since early 2025.

And in the first months of the war from March to May, the rush for solar power led to $407m in panel imports, according to government trade data from China, where most panels are manufactured. The Philippines became the biggest single overseas market for that period. Only the Netherlands bought more, but it redistributes them to the rest of Europe.

Lexus Grepo, CEO of the solar power supplier Solarmaxx, can attest to the boom.

“There is a 30-day wait because solar panel shipments can’t keep up,” Grepo said. “In March, we had 40 projects, which was almost triple our monthly clientele. Since then, we have been setting up 25 to 30 systems a month.”

Grepo does not expect demand to slow down even if tensions in the Middle East ease and shipping routes for energy supplies reopen.

“I think people now realise that the world is an unpredictable place, so they have to be ready for any eventuality. Filipinos now see that they don’t necessarily have to be at the mercy of the global energy market.”

The Philippines, one of the few countries in the region where electricity is not subsidised, relies on imported coal and gas for more than 70 percent of its power mix. The value of its currency, the peso, which has slid to a record low of more than 63 to the US dollar, is making these imports even costlier.

In late March, President Ferdinand Marcos Jr declared a national energy emergency in response to the war ⁠and what he described as the “imminent danger” posed to the national energy supply. Still, electricity rates have continued to increase.

The shift to solar is also partly driven by anger at electric companies that have come under scrutiny for charging customers for so-called system losses, which include illegal connections.

Cantera said learning about having to pay for someone else’s electricity consumption was the last straw.

“Who would agree to paying for something that you did not use? It’s not like the money we spend for electricity just fell from heaven,” he added.

But while the soaring demand is real, the upfront cost of a solar power system is still too high for most Filipinos. The government in March launched a new initiative offering loans for residential rooftop installations, but these are available only to public sector workers.

What officials hope can bring power rates down for the majority of people are the dozens of renewable energy projects in the pipeline, including a 3,500-hectare (8,650-acre) solar farm north of the capital, Manila, that is projected to be the largest in the world. When fully operational, the project is expected to generate 850 megawatts of electricity for 2.4 million households.

But some consumers said such projects could take years to complete, leaving them with ballooning electricity bills unless they take action themselves.

“It’s just so unpredictable nowadays. You have the impending El Nino weather pattern. There’s still war, the continuing fuel price hikes and so much more,” Cantera said. “So why not utilise a natural resource?”

The messages, reported by a Brazilian daily, say the platform recommended Bolsonaro’s profile and his WhatsApp channel.

Employees at Meta have acknowledged in internal communications that the Instagram accounts of Brazilian President Luiz Inacio Lula da Silva were negatively affected by restrictions during the country’s election, media reports say.

The messages, reported on Friday by Brazilian daily Folha de S Paulo, also acknowledged the platform recommended the profile of Lula challenger Senator Flavio Bolsonaro, as well as his WhatsApp channel. Folha, the Sao Paulo-based paper, cited messages it had reviewed.

Meta told the Reuters news agency that the technical issues cited in the report were already public and the conversations it referenced related solely to the severity of the issues, not political interference.

“Any suggestion that Meta favors one side is false,” it added in a statement.

Lula, the left-wing incumbent, will face right-wing challenger Bolsonaro in a presidential runoff on October 25, following a stronger-than-expected performance by the senator in the first-round vote earlier this month.

Friday’s report came on the heels of a Brazilian court ruling on Thursday that ordered Meta to immediately adopt measures to provide equal treatment of the two candidates ahead of the runoff.

The ruling by a judge in Brazil’s top electoral court was made shortly after Lula filed a complaint that accused the tech giant – which owns Instagram, Facebook and WhatsApp – of using biased algorithms and AI restrictions to favour opposition candidate Bolsonaro ahead of the election.

Justice Marco Aurelio Bellizze ruled that Meta cannot reduce the distribution of political content, restrict searches or remove posts in a way that creates an imbalance between Lula and Bolsonaro. His ruling also orders the company to ensure its artificial intelligence tool applies identical criteria to both candidacies.

Bellizze said in his ruling that Meta must pay a fine of 500,000 reais ($98,700) per day if it fails to comply.

According to Lula’s party, some of his posts appeared without a share button and had reduced reach. Options for reactions, sharing, audio or accelerated speed were also missing.

China is increasing its gold reserves in a bid to reduce its dependence on US dollar assets and protect against financial and geopolitical risks, analysts say, while households are turning to the precious metal amid uncertainty over the domestic economy.

The People’s Bank of China reported buying gold for a 23rd consecutive month in September, when the country’s central bank also made its largest monthly purchase in nearly three years. The sustained buying points to a longer-term effort to spread risk associated with its vast reserves, experts say.

Among concerns is high US debt and Western governments’ freezing of assets, which has highlighted the inherent risk in holding money overseas, particularly for emerging market and Global South economies. Gold bought and stored domestically offers protection against that risk because access does not depend on the will of another government.

But central bank buying and household demand for gold in China have different drivers. While Beijing is managing its financial exposure, private investors are seeking somewhere to preserve their savings. Here is what we know.

How much gold has China bought?

China’s central bank added approximately 23 tonnes of gold in September, bringing its reported holdings to about 2,410 tonnes, according to the World Gold Council. That was its largest monthly purchase since October 2023. Gold accounted for 8.5 percent of China’s total official reserves at the end of September, compared with 5.5 percent at the end of 2024.

Reserves are assets central banks hold to ensure they can meet international payments and respond to financial disruption. They usually include foreign currencies, foreign government debt and gold.

Private demand for gold within China has also risen, with purchases of gold bars and coins 28.4 percent higher in the first half of 2026 than during the same period last year, according to the China Gold Association. The buying of gold has continued amid falling prices, with gold down around 8.5 percent over the month.

The World Gold Council attributed the decline in gold prices partly to a stronger dollar and higher returns on US government debt. With interest rates going up in an attempt to curb inflation, these investments are attractive for buyers as they pay interest, making them more attractive to private investors than gold, which does not.

Why is China buying more gold?

A key objective is to reduce dependence on US government debt, known as Treasuries, according to Thu Lan Nguyen, head of commodity research at Commerzbank in Frankfurt.

China holds substantial reserves in dollar-based assets and, therefore, buying gold reduces its exposure to decisions taken in Washington. “China’s gold purchases are part of a broader effort to make its reserves more resilient,” Nguyen told Al Jazeera.

The freezing by Western countries of roughly $300bn in Russian Central Bank overseas assets following Moscow’s invasion of Ukraine in 2022 demonstrated how reserves held abroad can quickly become inaccessible.

The concern for China may be that a future confrontation with Washington could expose some of its overseas assets to similar restrictions. “Gold held domestically has a crucial advantage in this respect: it does not represent a claim on another country and is therefore much less exposed to sanctions or asset freezes,” Nguyen said.

“I would interpret it primarily as risk management,” she added, pointing to increased geopolitical tensions and economic and fiscal risks.

America’s rising debt, which hit $40 trillion for the first time in history earlier this year, adds another source of uncertainty. In February, the US Congressional Budget Office projected that federal debt held by the public would rise from 101 percent of the size of the US economy in 2026 to 120 percent in 2036. That provides context for concerns about Washington’s ability to repay that debt going forward should an economic crash occur. Much of this debt is held by China. Gold, therefore, offers a less volatile and risky asset to hold.

Chinese households have different motivations for buying gold. When confidence in other investments weakens, gold can become more attractive as a way to hold savings. “Strong demand for gold can partly reflect a search for alternative stores of value,” Nguyen said.

The World Gold Council has identified weak Chinese share markets as one factor supporting domestic demand for gold, while its property market is burdened by heavy borrowing and overbuilding, contributing to a fall in housing prices, making it a poorer investment.

What this means for the US dollar

Analysts warned that China’s increased buying of gold does not signal an imminent end to the dollar’s global dominance. “I would be cautious about describing this as a major shift away from the dollar,” Nguyen said. “The dollar remains by far the dominant global reserve currency.”

But a gradual shift could still matter if China and other central banks put more of their new reserves into gold, buying fewer US assets than they normally would. That could weaken one source of demand for US government debt. But the effect would depend on how widely and quickly the shift developed.

“The key point is, therefore, that this is likely to be a slow diversification process rather than a sudden abandonment of the dollar,” Nguyen said. She added that the consequences for the US economy would remain limited unless the trend broadened and accelerated substantially.

Central banks also need readily available foreign currency to support international payments and the dollar remains central to those transactions. So gold can provide financial protection, but it cannot directly replace all the functions of dollar reserves.

Who else is buying gold?

China is part of a wider trend, particularly among central banks in emerging economies, Nguyen said.

“The trend is particularly visible among emerging market central banks,” Nguyen said. “But sanctions are only part of the story.”

Poland has also become a more prominent buyer. Its central bank purchased 31 tonnes in the first quarter of 2026 and another eight tonnes in July, according to the World Gold Council.

Large holdings do not necessarily indicate recent purchases. India, for example, confirmed in June that its physical gold stock remained unchanged at about 880.5 tonnes. India’s gold reserves have changed little since mid-2025, according to the World Gold Council. It bought about four tonnes in 2025, down from 73 tonnes in 2024.

Despite China’s sustained buying, its reserves remain far smaller than those of the United States. Its holdings of about 2,300 tonnes at the end of 2025 amounted to less than one-third of the US stockpile of approximately 8,133 tonnes.

As China and North Korea cut the ribbon on New Yalu River Bridge this week, officials described the new border crossing in momentous terms.

Chinese Premier Li Qiang said the 3km (1.9-mile) bridge, which links China’s Dandong and North Korea’s Sinuiju, would “vigorously promote” trade and “strengthen emotional bonds”.

North Korean Premier Pak Thae-song expressed his belief that the crossing would “accelerate the advance for the prosperity of the two countries” and “add fresh vigour” to their economic cooperation.

Analysts on China-North Korea ties are much more circumspect.

While the bridge is a concrete symbol of China and North Korea’s efforts to revitalise relations that have waned from their Cold War-era peak, the prospects for trade are hindered by obstacles ranging from international sanctions to a North Korean leadership that prioritises security above all else, experts say.

“It reflects China’s renewed effort to strengthen its relationship with North Korea at a time of changing regional alignments,” Phillip Park, a professor at the University of North Korean Studies in Seoul, South Korea, told Al Jazeera.

“But whether this leads to substantially deeper economic integration, greater North Korean dependence, or a significant shift in Pyongyang’s strategic orientation remains an open question.

“The bridge could facilitate trade and logistics, but it does not remove international sanctions,” Park added.

China, whose troops fought alongside Pyongyang in the 1950-53 Korean War, has long been North Korea’s most crucial economic benefactor.

China accounts for as much as 95 percent of official trade with the secretive country, which is among the world’s most diplomatically and economically isolated states.

Before the four-lane New Yalu River Bridge officially opened on Thursday, road and rail freight between Dandong and Sinuiju, the main route for China-North Korea trade, travelled exclusively via the ageing Sino-Korean Friendship Bridge.

Opened in 1943, the bridge, which has a single-lane road and a rail track, can only carry vehicles weighing a maximum of 20 tonnes.

Jae-woo Joo, a professor of Chinese foreign policy at Kyung Hee University in Seoul, said the new bridge could “tremendously” boost trade between the sides, including the transfer of components banned under sanctions against Pyongyang’s nuclear and missile programmes.

“It is therefore really significant to open this bridge with China,” Joo told Al Jazeera.

After coming under strain from North Korea’s nuclear weapons tests in the mid-2000s, Beijing-Pyongyang ties have warmed under Chinese President Xi Jinping and North Korean leader Kim Jong Un.

At Xi and Kim’s most recent meeting in June, their seventh summit since 2018, the leaders pledged to enhance cooperation in areas spanning trade, defence, agriculture, law, science and technology.

Analysts have, in part, cast Beijing’s deepening engagement with Pyongyang as a response to the latter’s growing ties with Moscow, which have included the deployment of thousands of North Korean troops to the front lines of Russia’s war in Ukraine.

Last month, North Korean and Russian officials opened the first road bridge linking their countries across the Tumen River.

North Korea and China’s two-way trade grew 25 percent in 2025 to reach $2.74bn, according to figures from China’s General Administration of Customs.

Bilateral trade has continued to grow in 2026, jumping nearly 20 percent to reach $1.5bn in the first half of the year, putting it on track to reach its highest volumes since the COVID-19 pandemic.

But while growing, trade remains relatively minuscule in the context of global commerce.

With China’s overall trade hitting $6.36 trillion in 2025, North Korea’s contribution to the total was a little more than 0.04 percent.

Official trade between the neighbours also remains substantially below its 2010s heyday.

Trade hovered around $5-6bn throughout much of the decade, peaking at $6.45bn in 2013.

Economists have offered explanations for the slowdown that range from tightened sanctions to China’s waning reliance on imports amid its efforts to boost economic self-reliance.

Christopher Green, a senior consultant for the Korean Peninsula at International Crisis Group, said the new border crossing’s significance should not be overstated, considering that China-North Korea trade “is fundamentally driven by politics”.

“Lack of cross-border transit routes is not the main obstacle,” Green told Al Jazeera.

“If the bridge opening signifies a political desire on both sides to give political cover to rising trade volumes, then a boost to trade should follow,” Green said, describing ties up until now as “steady-as-she-goes” economic engagement.

“Time will tell. But the key is the politics of national security, not economics.”

As much as officials have hailed the New Yalu River Bridge as a reflection of Chinese-North Korean cooperation, the project had a long and torturous road to completion.

Construction began in 2011 and was finished on the Chinese side in 2014.

But North Korean authorities only completed roads and customs facilities on their side of the river this year following repeated pauses in construction amid tensions with Beijing.

“The 12-year delay certainly suggests that economic cooperation is more conditional than the language of friendship might imply,” Marco Mari, a PhD researcher at Bocconi University in Italy who studies China-North Korea economic ties, told Al Jazeera.

“The bridge can facilitate supplies and economic activity, while Russian support gives North Korea alternatives that diminish Beijing’s leverage,” Mari added.

“This does not necessarily imply broader economic reform or a comparable improvement in ordinary people’s lives.”

Weiqi Zhang, an associate professor at Suffolk University who studies relations between North Korea and China, said the history of China-North Korea economic ties is littered with abortive projects, such as the Hwanggumpyong Special Economic Zone, a North Korean-Chinese development near Dandong.

“There were cases, like the Hwanggumpyong Special Economic Zone – established by China and North Korea – where China built infrastructure on its side, but North Korea didn’t even pave the road on their side,” Zhang told Al Jazeera.

“One reason is that, unlike its neighbours, North Korean government doesn’t really pay much attention to trade for economic development,” Zhang said.

“International trade is used by North Korea more like a foreign policy tool.”

With China wishing to demonstrate its “indispensability” as a trade partner and North Korea eager to strengthen their economic ties, trade is likely to grow, said Edward Howell, a lecturer in international Relations at the University of Oxford.

Even so, economic engagement will be subject to political considerations, Howell said.

“North Korea will obviously want to avoid facing any Chinese influence to change its economic model, but Pyongyang will want to reap the economic benefits of trade with its principal economic benefactor,” Howell told Al Jazeera.

Review prompted by Gaza action calls for Norway’s sovereign wealth fund to lift ethical risk limitations on its investments.

A government-appointed committee has called for Norway’s sovereign wealth fund to lift limitations on its investments based on ethical risks, including those regarding nuclear weapons and Israel’s genocidal war on Gaza.

In a report released on Thursday, the committee said the world’s largest sovereign wealth fund, which controls assets totalling nearly $2.3 trillion, should be allowed to invest in companies that produce nuclear weapons. With reference to Gaza, it also called for the fund to refrain from involvement in diplomatic issues.

Led by former Central Bank Governor Svein Gjedrem, the committee recommended easing the fund’s investment conditions as part of a broader overhaul that would give its manager, the central bank, greater discretion over how it addresses ethical risks.

The review was prompted in part by controversy over the fund’s disinvestment last year from United States construction giant Caterpillar. The fund said the move was prompted by Caterpillar’s purported involvement in rights violations perpetrated by Israel amid its genocidal war on Gaza and in the occupied West Bank. Washington has since pressured Oslo over the move.

“Parts of the rationale for the appointment of the Committee was the Fund’s management related to the war in Gaza,” the committee commissioned by the government said. In the report, it argued that decisions regarding “another state’s conduct” should not be made by the fund but “reserved for the ordinary diplomatic channels of the Norwegian authorities”.

The unanimous recommendations of the committee in the report, which was submitted to the Ministry of Finance, also called for a review of the fund’s exclusion of investment in companies involved in the production of nuclear weapons.

Citing Norway’s reliance on NATO’s nuclear deterrent and a worsening security environment, the report suggested that investments in companies based in the US, United Kingdom and France that are involved in the production of nuclear weapons should be allowed.

The proposals also extended to reshaping the role of the fund’s independent ethics watchdog, allowing some assessments of potential investments to remain confidential.

‘Pandora’s box’

The report has already provoked a backlash in Norway, with opposition politicians slamming the potential changes. Meanwhile, analysts suggested that weakening ethics considerations could have a wide impact.

“If the Norwegian sovereign wealth fund – often considered a global gold standard – changes its posture towards nuclear weapons, it will open Pandora’s box for many global investors to follow suit,” Lawrence Loh, director of the Centre for Governance and Sustainability at the National University of Singapore Business School, told Al Jazeera.

The committee framed the proposed change as an obligation to protect Norway’s national security, citing the country’s dependence on its allies’ nuclear umbrella.

“The global security situation has changed. Norway is building up its defence capabilities, and the protection provided by NATO’s nuclear umbrella has become increasingly important. The companies that would be reincluded produce weapons that Norway needs for its own defence”, the report argued.

Gareth Evans, former Australian foreign minister, told Al Jazeera the report was “an encouraging initiative in a world that has become alarmingly complacent about the risks of nuclear war, with every major nuclear arms control agreement dead, dying or on life support, and the longstanding taboo against threat or use eroding”.

Amid US President Donald Trump’s shake-up of NATO, European countries are increasingly looking to join France’s nuclear deterrent umbrella.

Trump said on Thursday that Washington is holding talks with Russia and China aimed at denuclearising the countries with the biggest stockpiles of nuclear weapons.

However, Loh warned that shifting the Norwegian fund’s investment conditions could encourage investment by others in nuclear companies “in scenarios different from the Norwegian’s condition of the invested companies being based in allied, nuclear-armed NATO countries”.