Europe has a chance to attract investment and boost strategic autonomy but must reform and cut red tape to compete with the US and Asia, according to speakers at the FII Institute summit in Rome. Greater regulatory flexibility and faster decision-making are key to channeling capital into strategic sectors.
Lee Man hires Giancarlo Italiano, former Wellington Phoenix coach, to lead the club with a new perspective, enhancing competitiveness on and off the pitch.
EU leaders meet in Brussels for a two-day summit addressing competitiveness, trade, Ukraine, the Middle East, defense, and the bloc's next seven-year budget. The summit is the first since leadership changes in Hungary and Bulgaria.
Hong Kong has climbed to second place in the global competitiveness ranking, its highest position in seven years, trailing only Singapore. The report by the IMD highlights sustained performance across government efficiency, infrastructure, economic performance, and business efficiency, reinforcing Asia's dominance at the top.
South Korea climbed six spots to 21st in global competitiveness in the 2026 IMD report, driven by gains in business efficiency and infrastructure. The nation also secured second place among major economies for countries with GDP per capita over $30,000.
Chinese AI models are competitive with US counterparts, but hardware lags. While domestic chips are used for inference, pre-training still relies on foreign silicon. China is pushing for self-sufficiency in AI hardware across all development stages.
Alexander Lvov, CEO of MIET International Research and Technology Center, stated at the Electronic Engineering - 2026 conference that a systemic approach to industrial design is crucial for creating competitive electronic engineering products. This approach integrates design, engineering, and user research, leading to improved quality and a common industry style.
UK manufacturers face a "heavy drag" on competitiveness due to the highest electricity prices in the G7. Make UK and TUC call for expanded government relief, costing ยฃ3bn, to cover all manufacturers, as current schemes are too narrow.
Slovak Prime Minister Robert Fico criticized the EU's approach to the Ukraine conflict, stating it's a 'war-until-the-last-Ukrainian' and 'until the last euro.' He urged EU leaders to prioritize declining competitiveness and high energy prices, and plans to seek EU compensation for military aid to Ukraine.
Geely Auto plans to restructure assets to eliminate excess capacity and enhance global competitiveness in its battle with BYD. The company aims to become a stronger, larger automaker with improved systemic development, governance, and international presence.
Shanghai-based GPU designer MetaX announced plans for a Hong Kong listing, aiming to raise capital for R&D, expansion, and strategic investments. The proposed H-share offering, representing up to 5% of enlarged capital, follows its recent debut on Shanghai's Star Market.
Bluesky has introduced group chat functionality, allowing up to 50 users to interact privately. This feature aims to enhance community focus and compete with rivals like X, which recently launched its own chat app.
Google declined $2 billion in US government quantum computing funding due to restrictive conditions, according to COO Charina Chou. The company prioritizes rapid development and seeks increased government investment in basic research and talent recruitment to compete with China.
The Korea Startup Forum (KOSPO) hosted AXIS 2026, emphasizing the shift of AI leadership from institutions to startups. Speakers urged the government to become the first customer for AI startups, fostering national competitiveness and global leadership.
Daegu Mayor-elect Chu Kyoung-ho criticized the potential for political interference in national strategic industry investments, particularly in semiconductors. He argued that investment decisions should be based on objective factors like market competitiveness and infrastructure, not political considerations, to maintain national competitiveness and ensure fair opportunities for all regions.
Australia's Socceroos drew 1-1 with Switzerland in a World Cup warm-up, with Nestory Irankunda and Connor Metcalfe impressing, though coach Tony Popovic remains tight-lipped on his starting lineup for the World Cup opener against Turkey on June 14.
A new report by the National Foundation for American Policy (NFAP) reveals that immigrant-founded startups in the US are collectively worth nearly $5 trillion and create an average of 833 jobs per company. Indian immigrants lead in founding billion-dollar startups, with 96 companies.
France, Italy, and Spain have jointly proposed new rules to ease cross-border banking and cut red tape in the EU. The proposals aim to address market fragmentation and boost competitiveness, with a European Commission report on the sector due July 15.
Hungarian Prime Minister Peter Magyar stated that Hungary remains dependent on Russian oil and cannot sacrifice its companies' competitiveness or risk energy poverty for families. He emphasized the need for affordable energy for economic growth and ongoing diversification efforts.
Baku Energy Week 2026 focused on AI, upstream investment, and gas security, showcasing how energy companies are adapting to geopolitical uncertainty through automation, digital infrastructure, and emissions reduction.
Europe faces a critical choice with the Digital Networks Act (DNA): continue old regulatory paths or embrace connectivity as a backbone for economic security and technological sovereignty. The current draft needs reform to foster investment and competitiveness against global rivals.
A report by the Korea Institute for Advanced Automotive Research urges Korean semiconductor firms like Samsung Electronics and SK Hynix to strengthen their competitiveness in the automotive semiconductor market, where they currently lag behind international rivals.
Celltrion announced on the 26th its plan to strengthen competitiveness by introducing AI in new drug development and manufacturing. The company aims to significantly shorten the drug development period, which typically takes over 10 years, by utilizing AI for candidate substance discovery and verification.
Samsung Electronics averted a strike by reaching a tentative wage agreement, but concerns are rising about the fixed 'N% of operating profit' bonus system's impact on domestic semiconductor competitiveness amid heavy investment by rivals like Micron and TSMC. The bonus structure also faces scrutiny for potentially breaching shareholder duties.
