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World markets dive as Trump sparks trade, North Korea worries

Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain...
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Alibaba sets up AI research centre in Singapore.

Chinese e-commerce giant Alibaba on Wednesday opened an artificial intelligence research institute in Singapore in partnership with a local university, as the battle to develop AI technology heats up.
The institute, a tie-up with Nanyang Technological University (NTU), is Alibaba’s first joint research centre outside mainland China. It aims to develop cutting-edge AI technologies in areas such as elderly care and urban transport.
 
The institute will carry out research on artificial intelligence technologies for an initial five years, starting with a pool of 50 researchers from both organisations, according to a joint press statement.
Alibaba chief technology officer Jeff Zhang said the Singapore venture was part of research and development efforts by Alibaba’s DAMO Academy, which was launched last year.
A focus of the institute will be on technologies to help in caring for the elderly, including developing robot companions to stay with them at home and sensors to help detect problems.
“Using AI technologies, we can address fundamental societal challenges such as an ageing population,” said NTU president Subra Suresh.
Singapore, a city-state of 5.6 million people, has a rapidly ageing population which is causing problems such as labour shortages.
There is intense competition among leading companies in the area of artificial intelligence, with Google, Microsoft and Amazon scrambling to develop new software and technologies.

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