Nvidia chief says H20 chip shipments to China not a security concern

Shipping Nvidia’s H20 chips to China was “great” for Beijing and Washington and not a security threat, the tech giant’s chief said Friday.  The California-based company produces some of the world’s most advanced semiconductors but cannot ship its most cutting-edge chips to China due to concerns from Washington that Beijing could use them to enhance military capabilities.Nvidia developed the H20 — a less powerful version of its AI processing units — specifically for export to China. That plan stalled when the Trump administration tightened export licensing requirements in April.The H20 was “not a national security concern”, Jensen Huang told reporters in Taipei, describing the chip as “great for America” and “great for the Chinese market”.Huang insisted there were “no security backdoors” in the H20 chip allowing remote access, after China summoned company representatives to discuss security issues. “We have made very clear and put to rest that H20 has no security backdoors, there are no such things, there never has, and so hopefully the response that we’ve given to the Chinese government will be sufficient,” Huang said.He sidestepped a question about reports that Nvidia would pay the United States 15 percent of its revenues from the sale of H20 chips to China, which US President Donald Trump confirmed last week.Instead, Huang expressed gratitude to the Trump administration for allowing the chips to be shipped to the Chinese market. “The demand I believe is quite great and so the ability to ship products to, H20s to China, is very much appreciated,” the CEO said.Huang also said Nvidia is in talks with the US government about a new chip for China.”Offering a new product to China for the data center, AI data centers, the follow on to H20, that’s not our decision to make. It’s up to of course the United States government, and we’re in dialogue with them but it’s too soon to know,” he said.Huang met with Trump at the White House this month and agreed to give the federal government the cut from its revenues, a highly unusual arrangement in the international tech trade, according to reports in the Financial Times, Bloomberg and The New York Times.Investors are betting that AI will transform the global economy, and last month Nvidia — the world’s most valuable company and a leading designer of high-end AI chips — became the first company ever to hit $4 trillion in market value.The firm has, however, become entangled in trade tensions between China and the United States, which are waging a heated battle for dominance to produce the chips that power AI.It comes as the Trump administration has been imposing stiff tariffs, with goals varying from addressing US trade imbalances, wanting to reshore manufacturing and pressuring foreign governments to change policies.A 100 percent tariff on many semiconductor imports came into effect this month, with exceptions for tech companies that announce major investments in the United States.

Zelensky accuse Poutine de vouloir “se soustraire” à une rencontre pour la paix

Le président ukrainien Volodymyr Zelensky a accusé jeudi son homologue russe Vladimir Poutine de chercher à “se soustraire” à une rencontre destinée à trouver une issue à la guerre provoquée par l’invasion russe, Donald Trump lui-même tempérant son enthousiasme.”A l’heure actuelle, les signaux envoyés par la Russie sont tout simplement indécents. Ils essaient de se soustraire à la nécessité d’organiser une réunion”, a accusé M. Zelensky dans son adresse quotidienne sur les réseaux sociaux jeudi soir.A la place, les Russes “poursuivent leurs attaques massives contre l’Ukraine et leurs assauts féroces le long de la ligne de front”, a-t-il dénoncé.La Russie a lancé dans la nuit de mercredi à jeudi une attaque massive sur l’Ukraine, utilisant 574 drones et 40 missiles, selon l’armée de l’air ukrainienne, un nombre record depuis la mi-juillet. Ces frappes ont fait deux morts, un à Kherson et un autre à Lviv, dans l’ouest du pays. Elles ont aussi largement détruit une entreprise américaine dans la ville de Moukatchevo, dans l’ouest de l’Ukraine, a précisé M. Zelensly.”Les Russes savaient exactement où ils avaient lancé les missiles. Nous croyons qu’il s’agissait d’une frappe délibérée spécifiquement sur une propriété appartenant à des Américains”, a noté le président ukrainien. L’attaque contre Moukatchevo a fait 23 blessés, selon un nouveau bilan des autorités locales.- “Approche différente” -Très satisfait de sa rencontre avec M. Poutine le 15 août, Donald Trump a reconnu jeudi qu’il n’en saurait davantage sur les chances de paix que “dans les deux prochaines semaines”.”Après cela, nous devrons peut-être adopter une approche différente”, a-t-il estimé sans plus de détail.Après avoir rencontré M. Poutine en Alaska puis M. Zelensky lundi à la Maison Blanche, Donald Trump avait dit préparer une rencontre entre les dirigeants russe et ukrainien. Mais la participation des belligérants semble encore loin d’être acquise. Si Vladimir Poutine semble avoir accepté le principe de cette rencontre, qu’il refusait jusque-là, ni date ni lieu n’ont été annoncés, et Moscou a souligné mercredi qu’une telle rencontre devait être “préparée avec le plus grand soin”.Paris a dénoncé jeudi une “absence de volonté” de la Russie de mettre fin à la guerre.Volodymyr Zelensky, de son côté, a déclaré devant un groupe de médias parmi lesquels l’AFP vouloir comprendre “l’architecture des garanties de sécurité d’ici sept à dix jours” .Ensuite, “nous devrions avoir une réunion bilatérale dans une semaine ou deux”, a souhaité le dirigeant ukrainien, dont ce serait le cas échéant la première rencontre avec son homologue russe depuis 2019.M. Zelensky a proposé la Suisse, l’Autriche ou la Turquie pour une éventuelle rencontre. Il a en revanche écarté la Hongrie, jugée trop proche du Kremlin.- Nouveau missile -Les contacts diplomatiques se sont accélérés ces dernières semaines pour trouver une issue à la guerre provoquée par l’invasion russe en février 2022, mais positions de Moscou et Kiev restent diamétralement opposées, notamment sur la question des territoires ukrainiens occupés.Trouver un accord sur les garanties de sécurité s’annonce également complexe.Européens et Américains ont évoqué ces derniers mois différentes possibilités allant de garanties similaires au fameux “article 5” de l’Otan au déploiement d’un contingent militaire en Ukraine.Epine dorsale de l’Otan, à laquelle ni Moscou ni Washington ne veulent voir l’Ukraine adhérer, l’article 5 stipule que toute attaque contre un pays membre est considérée comme une attaque contre tous.Kiev considère que, même si une issue est trouvée à cette guerre, la Russie tentera encore de l’envahir à l’avenir, d’où l’importance de ces garanties.Moscou, qui qualifie l’expansion de l’Otan à ses frontières comme l’une des “causes profondes” ayant mené au conflit, rejette de son côté catégoriquement la plupart des scénarios envisagés.Le chef de la diplomatie russe, Sergueï Lavrov, a averti jeudi que tout déploiement d’un contingent militaire européen en Ukraine serait “inacceptable”.Parallèlement, l’Ukraine cherche à augmenter sa production d’armement, une façon de réduire sa dépendance à l’aide des alliés.Volodymyr Zelensky a ainsi affirmé jeudi que son pays avait testé avec succès un nouveau missile d’une portée de 3.000 kilomètres appelé Flamingo.

Zelensky accuse Poutine de vouloir “se soustraire” à une rencontre pour la paix

Le président ukrainien Volodymyr Zelensky a accusé jeudi son homologue russe Vladimir Poutine de chercher à “se soustraire” à une rencontre destinée à trouver une issue à la guerre provoquée par l’invasion russe, Donald Trump lui-même tempérant son enthousiasme.”A l’heure actuelle, les signaux envoyés par la Russie sont tout simplement indécents. Ils essaient de se soustraire à la nécessité d’organiser une réunion”, a accusé M. Zelensky dans son adresse quotidienne sur les réseaux sociaux jeudi soir.A la place, les Russes “poursuivent leurs attaques massives contre l’Ukraine et leurs assauts féroces le long de la ligne de front”, a-t-il dénoncé.La Russie a lancé dans la nuit de mercredi à jeudi une attaque massive sur l’Ukraine, utilisant 574 drones et 40 missiles, selon l’armée de l’air ukrainienne, un nombre record depuis la mi-juillet. Ces frappes ont fait deux morts, un à Kherson et un autre à Lviv, dans l’ouest du pays. Elles ont aussi largement détruit une entreprise américaine dans la ville de Moukatchevo, dans l’ouest de l’Ukraine, a précisé M. Zelensly.”Les Russes savaient exactement où ils avaient lancé les missiles. Nous croyons qu’il s’agissait d’une frappe délibérée spécifiquement sur une propriété appartenant à des Américains”, a noté le président ukrainien. L’attaque contre Moukatchevo a fait 23 blessés, selon un nouveau bilan des autorités locales.- “Approche différente” -Très satisfait de sa rencontre avec M. Poutine le 15 août, Donald Trump a reconnu jeudi qu’il n’en saurait davantage sur les chances de paix que “dans les deux prochaines semaines”.”Après cela, nous devrons peut-être adopter une approche différente”, a-t-il estimé sans plus de détail.Après avoir rencontré M. Poutine en Alaska puis M. Zelensky lundi à la Maison Blanche, Donald Trump avait dit préparer une rencontre entre les dirigeants russe et ukrainien. Mais la participation des belligérants semble encore loin d’être acquise. Si Vladimir Poutine semble avoir accepté le principe de cette rencontre, qu’il refusait jusque-là, ni date ni lieu n’ont été annoncés, et Moscou a souligné mercredi qu’une telle rencontre devait être “préparée avec le plus grand soin”.Paris a dénoncé jeudi une “absence de volonté” de la Russie de mettre fin à la guerre.Volodymyr Zelensky, de son côté, a déclaré devant un groupe de médias parmi lesquels l’AFP vouloir comprendre “l’architecture des garanties de sécurité d’ici sept à dix jours” .Ensuite, “nous devrions avoir une réunion bilatérale dans une semaine ou deux”, a souhaité le dirigeant ukrainien, dont ce serait le cas échéant la première rencontre avec son homologue russe depuis 2019.M. Zelensky a proposé la Suisse, l’Autriche ou la Turquie pour une éventuelle rencontre. Il a en revanche écarté la Hongrie, jugée trop proche du Kremlin.- Nouveau missile -Les contacts diplomatiques se sont accélérés ces dernières semaines pour trouver une issue à la guerre provoquée par l’invasion russe en février 2022, mais positions de Moscou et Kiev restent diamétralement opposées, notamment sur la question des territoires ukrainiens occupés.Trouver un accord sur les garanties de sécurité s’annonce également complexe.Européens et Américains ont évoqué ces derniers mois différentes possibilités allant de garanties similaires au fameux “article 5” de l’Otan au déploiement d’un contingent militaire en Ukraine.Epine dorsale de l’Otan, à laquelle ni Moscou ni Washington ne veulent voir l’Ukraine adhérer, l’article 5 stipule que toute attaque contre un pays membre est considérée comme une attaque contre tous.Kiev considère que, même si une issue est trouvée à cette guerre, la Russie tentera encore de l’envahir à l’avenir, d’où l’importance de ces garanties.Moscou, qui qualifie l’expansion de l’Otan à ses frontières comme l’une des “causes profondes” ayant mené au conflit, rejette de son côté catégoriquement la plupart des scénarios envisagés.Le chef de la diplomatie russe, Sergueï Lavrov, a averti jeudi que tout déploiement d’un contingent militaire européen en Ukraine serait “inacceptable”.Parallèlement, l’Ukraine cherche à augmenter sa production d’armement, une façon de réduire sa dépendance à l’aide des alliés.Volodymyr Zelensky a ainsi affirmé jeudi que son pays avait testé avec succès un nouveau missile d’une portée de 3.000 kilomètres appelé Flamingo.

Rice prices up 91 pct year-on-year in Japan

Rice prices in Japan soared 90.7 percent in July year-on-year, official data showed Friday, but the rate of increase slowed from previous months offering some relief for Prime Minister Shigeru Ishiba.Ishiba’s future is uncertain after his coalition lost its majority in both chambers in elections this year, as voters angry about rising prices deserted his long-dominant Liberal Democratic Party.Rice prices have skyrocketed in recent months because of supply problems linked to a very hot summer in 2023 and panic-buying after a “megaquake” warning last year, amongst other factors.Overall, Japan’s core inflation eased to 3.1 percent from 3.3 percent in June.But it remains above the Bank of Japan’s two-percent target, cementing expectations that it will hike interest rates this year.The reading, which excludes fresh food prices, was slightly above market expectations of 3.0 percent. Stripping out energy too, consumer prices rose 3.4 percent — the same as in June.The BoJ last hiked interest rates in January but has been reluctant to tighten monetary policy further.It sees above-target inflation as caused by temporary factors — including the price of rice.This month US Treasury Secretary Scott Bessent added to pressure on the BoJ to hike, saying the central bank was “behind the curve” on inflation.”Although inflation is likely to cool a bit further in the months ahead, it shouldn’t prevent the Bank of Japan from resuming its tightening cycle in October,” Abhijit Surya at Capital Economics said Friday.- Rice reserves -In June the price of rice was 100.2 percent higher than a year earlier. In May the rate was 101.7 percent.Ishiba has appointed a new farm minister and his government has released emergency stocks in an effort to bring prices down.Earlier this month it announced a change in its decades-old policy of encouraging farmers to grow crops other than rice.US President Donald Trump also wants Japan to import more American rice.Last week, data showed that Japan’s economy grew at an annualised pace of 1.0 percent in the second quarter.The reading suggested the economy was suffering less than feared from US tariffs.But other data released Wednesday showed exports to the United States plunging 10.1 percent in July, with cars down 28.4 percent.Trump initially imposed across-the-board tariffs of 10 percent on Japan, as well as levies of 27.5 percent on cars.Japan’s automobile industry, which includes giants such as Toyota and Honda, accounts for around eight percent of the country’s jobs.Japan last month secured a trade deal that cut threatened 25 percent “reciprocal” tariffs to 15 percent.The rate on Japanese cars was also cut to 15 percent, although this has yet to take effect.

Asian markets tick up as investors eye Jackson Hole meeting

Asian markets were mostly up Friday morning ahead of a pivotal speech by the US central bank chief, expected to shed light on possible interest rate cuts in the world’s top economy.Recent days have seen cautious trading as investors parse a mixed outlook for the global economy, beset by worries over inflation even as a boom in tech — especially artificial intelligence — continues.US Federal Reserve Chairman Jerome Powell is set to deliver remarks during an annual gathering of central bankers in Jackson Hole, Wyoming on Friday, a key event for observers weighing the chances of a rate cut at a September meeting of policymakers.Powell has come under intense public pressure this year from President Donald Trump to lower rates — an unusual political intervention at the independent central bank.Stock markets across Asia were up narrowly on Friday, roughly 12 hours before Powell’s speech.Tokyo’s Nikkei index was barely above flat during morning trading, an improvement from Thursday’s 0.7 percent drop.Japan announced Friday that its core inflation rate had eased to 3.1 percent in July from 3.3 percent the previous month — still above its central bank’s two-percent target and boosting expectations of an October rate hike.Stocks in Hong Kong, Shanghai, Seoul and Taipei were also up.Sydney and Bangkok were slightly down.After a shaky few days on Wall Street, Asia “should act as a safe harbour while the Fed’s credibility is under the spotlight”, said Chris Weston, head of research at Pepperstone, in a note.Still, “hesitation to push risk higher will remain”, he said, adding that there is “a very low probability” of Powell calling explicitly for rate cuts in his speech later in the day.Also weighing heavily on investors’ minds is the potential for a peace deal in Ukraine more than three years after Russia’s invasion.Trump on Thursday set a two-week time frame for assessing peace talks between Moscow and Kyiv, following days of high-stakes diplomacy that saw him meet in person with Russian and Ukrainian counterparts Vladimir Putin and Volodymyr Zelensky, as well as several European leaders.Observers have been speculating lately about the impact on oil markets of the possible lifting of sanctions on Russia, a major producer.Oil prices were down slightly on Friday morning, paring back gains over recent days.- Key figures at around 0215 GMT -Tokyo – Nikkei 225: UP 0.1 percent at 42,634.00Hong Kong – Hang Seng Index: UP 0.5 percent at 25,232.39Shanghai – Composite: UP 0.3 percent at 3,783.76Euro/dollar: UP at $1.1611 from $1.1604 on ThursdayPound/dollar: UP at $1.3414 from $1.3412Dollar/yen: UP at 148.52 yen from 148.37 yenEuro/pound: UP at 86.57 pence from 86.52 penceWest Texas Intermediate: DOWN 0.3 percent at $63.35 per barrelBrent North Sea Crude: DOWN 0.3 percent at $67.46 per barrelNew York – Dow: DOWN 0.3 percent at 44,785.50 (close)London – FTSE 100: UP 0.2 percent at 9,309.20 (close)

Texas, California race to redraw electoral maps ahead of US midterms

Republican-controlled Texas and Democrat-run California forged ahead Thursday with creating new congressional maps, in a cutthroat struggle to tilt the outcome of next year’s US midterm elections.The battle between the country’s two largest states was set off by President Donald Trump’s drive to protect the thin Republican majority in the US House of Representatives and avoid becoming mired in Democratic Party investigations from 2027.Under pressure from Trump, Texas fired the starting gun in a tussle that pro-democracy activists warn could spread nationwide. Its state house on Wednesday approved new congressional boundaries that would likely eke out five extra Republican districts.The state senate is expected to green-light the bill on Friday morning and send it to Governor Greg Abbott for a signature.California Governor Gavin Newsom — an early frontrunner for the 2028 Democratic presidential nomination — struck back with a plan for a new map that would likely cancel out Texas by adding five Democratic seats.The state’s legislature on Thursday overwhelmingly approved the plan, with thumping majorities in the house and the senate, both of which are Democrat controlled.”We will not let our political system be hijacked by authoritarianism,” Speaker Robert Rivas said, shortly before the vote.”Today, we give every Californian the power to say no… to Donald Trump’s power grab and yes to our people, to our state and to our democracy.”Voters will now be asked if they want to temporarily redraw constituency boundaries for elections, up to and including 2030.The Texas House approved its new district boundaries after a two-week drama sparked by Democrats fleeing the state in an effort to block the vote and draw nationwide attention to the issue of partisan redistricting, known as “gerrymandering.”The Senate Special Committee on Congressional Redistricting passed the new map in a 5-3 vote Thursday lunchtime, teeing up a Friday vote of the full chamber.Redistricting usually occurs once every decade, taking into account population changes registered in the latest census.- ‘Clinging to power’ -The unusual mid-decade effort in Texas is expected to spark a tit-for-tat battle, potentially dragging in liberal-leaning Illinois and New York, and conservative Florida, Louisiana, Ohio, Indiana and Missouri. “The Great State of Missouri is now IN,” Trump announced Thursday on social media, in a post understood to be referring to redistricting.”I’m not surprised. It is a great State with fabulous people. I won it, all 3 times, in a landslide. We’re going to win the Midterms in Missouri again, bigger and better than ever before!”But New York’s Democratic Governor Kathy Hochul called the push the “last gasp of a desperate party clinging to power,” warning Trump that she would “meet him on the same field and beat him at his own game.” Former president Barack Obama endorsed California’s retaliation as a “smart and measured” response to anti-democratic moves by Trump.”(Since) Texas is taking direction from a partisan White House and gerrymandering in the middle of a decade to try and maintain the House despite their unpopular policies, I have tremendous respect for how Governor Newsom has approached this,” he said.Newsom has a tougher task than Abbott in pushing through the redistricting plans, as California voters must first agree in a referendum in November to bypass the independent commission that normally controls the process. Californians have traditionally been wary of partisan redistricting, and while Democrats have called for independent commissions nationwide, a new Politico-UC Berkeley Citrin Center poll shows they would make an exception for the pushback against Texas.Republicans are suing Democrats, alleging that November’s vote would be unlawful, although the California Supreme Court rejected an initial challenge late Wednesday.”Yes, we’ll fight fire with fire. Yes, we will push back. It’s not about whether we play hardball anymore — it’s about how we play hardball,” Newsom said in a call with reporters. 

Pakistan woos old rival Bangladesh, as India watches on

Decades after Pakistani troops killed his friends in Bangladesh’s independence war, veteran freedom fighter Syed Abu Naser Bukhtear Ahmed eyes warming ties between Dhaka and Islamabad with cautious pragmatism.Bangladesh is hosting the foreign minister and trade envoy this week, its most senior Pakistani visitors in years, in a bid to reset relations scarred by the bloody 1971 conflict and shaped by shifting regional power balances.”The brutality was unbounded,” said Ahmed, 79, a banker, describing the war in which East Pakistan broke away to form Bangladesh.Hundreds of thousands were killed -– Bangladeshi estimates say millions -– and Pakistan’s military was accused of widespread atrocities.”I would have loved to see the responsible people tried — the ones who killed six of my friends,” Ahmed told AFP.”I don’t mind normalising relations with those who opposed the war, but were not directly involved in the atrocities committed.”Contact between the two Muslim-majority nations was long limited to little more than cultural ties: a shared love of cricket, music and Pakistan’s prized cotton used to make the flowing trousers and shirt known as shalwar kameez.Bangladesh instead leaned heavily on India, which almost encircles the country of 170 million people.- ‘Flirting’ -However, a mass uprising in Dhaka last year that toppled longtime India ally Sheikh Hasina has strained ties with New Delhi and opened the door for dialogue with Islamabad.Pakistan’s Commerce Minister Jam Kamal Khan arrived in Dhaka on Thursday and Foreign Minister Ishaq Dar is expected on Saturday.Analysts say India, which fought a four-day conflict with Pakistan in May, will be watching closely.”Bangladesh had been one of India’s closest partners in its neighbourhood, and now it is flirting with India’s chief adversary,” said Michael Kugelman, a US-based analyst.The last time a Pakistani foreign minister visited Dhaka was in 2012, according to Bangladesh newspapers.Pakistan and Bangladesh began sea trade last year, expanding government-to-government commerce in February.”It is the emergence of a new strategic equation — one that reduces Indian influence and instead strengthens a cooperative axis between Pakistan and Bangladesh,” Azeem Khalid, a New York-based international relations expert, told AFP.”If sustained, this evolution has the potential to reshape South Asia’s geopolitical and economic order.”Bangladesh’s interim government led by Nobel Peace laureate Muhammad Yunus is furious that Hasina fled to India and has defied a summons to answer charges amounting to crimes against humanity.”Under Yunus, there have been a number of high-level meetings, trade relations have expanded, the two countries have agreed to relax visa rules and there has even been some limited military cooperation,” said analyst Thomas Kean from the International Crisis Group.- ‘Wound remains open’ -Still, reconciliation faces obstacles.Calls for Pakistan to apologise for the 1971 killings remain popular in Bangladesh, but foreign policy expert Qamar Cheema believes it is unlikely Islamabad will oblige.”Pakistan’s engagement with Bangladesh is only possible if Bangladesh does not bring historical animosity in re-establishing ties”, said Cheema, from Islamabad’s Sanober Institute.”Bangladesh always demanded an apology, which (Pakistan) never provided — and even today, doesn’t have any such intentions.”Dhaka’s foreign affairs adviser Mohammad Touhid Hossain, asked if Bangladesh would raise the issue of a public apology, said that “all issues will be on the table”.Bangladesh courts have sentenced several people for “genocide” during the 1971 war, accusing them of aiding Pakistani forces in the ethnic cleansing of Bengalis.”As long as the wound remains open, the relationship cannot be sustainable,” said anthropologist Sayeed Ferdous from Dhaka’s Jahangirnagar University.Others strike a more balanced tone.”From a victim’s perspective, I can’t accept a warming of bilateral relations before Pakistan meets certain conditions,” said Bangladeshi academic Meghna Guhathakurta, whose father was killed by Pakistani troops.She said Islamabad “should make all information related to the war public”.However, the retired international relations professor from Dhaka University also accepted that it was “natural to have trade relations with Pakistan”, and acknowledged the “geopolitical dimensions”.With elections in February, when Yunus’s administration will hand over power, relations could shift once again.”If the next government is prepared to patch up ties with India — and Delhi is willing to reciprocate — then the surge in ties with Islamabad could become a casualty,” Kugelman said.burs-pjm/pbt/sco