Alibaba Group has priced an HK$80 billion share placement to fund artificial intelligence investment and expand its AI infrastructure. The Chinese technology group will issue 710 million new ordinary shares at HK$112.70 each, worth about US$10.2 billion. The placement targets non-U.S. investors outside the United States through offshore transactions. The offering price sits 8.4% below Alibaba’s HK$123 closing price on Friday. AI infrastructure spending expands across Alibaba, with capital expenditure reaching RMB67.68 billion during the quarter ended June 30.
News
Nearly 22,000 Pakistanis deported from Gulf over four months for visa violations and begging highlights tightening immigration enforcement across the Middle East. The written statement submitted by the Ministry for Narcotics Control detailed that Saudi Arabia accounted for the vast majority of repatriations, expelling 15,500 Pakistani nationals during the four-month window. The United Arab Emirates deported 3,803 individuals, followed by Oman with 1,606 deportations, Bahrain with 521, Qatar with 429, and Kuwait with 97. A significant subset of the repatriated individuals involved 4,628 absconders, 1,294 individuals who served prison sentences, and 472 individuals specifically identified as beggars.
Health
Australian researchers from Adelaide University and the Olivia Newton-John Cancer Research Institute have identified a novel molecular switch that drives the spread of aggressive tumors. Published in EMBO Molecular Medicine, the breakthrough study reveals that Australian researchers uncover a promising new way to tackle triple-negative breast cancer by restoring a critical regulatory molecule known as miR-342. The discovery opens new avenues to prevent life-threatening secondary cancers in organs such as the lungs and bones.
The Democratic Republic of the Congo will receive 70,000 Ervebo Ebola vaccine doses as the Bundibugyo outbreak expands. Congolese authorities reported 5,208 confirmed cases and 2,476 deaths as of Aug. 18. The outbreak now affects 56 health zones across six provinces in the east and northeast. Authorities also listed 1,115 recoveries, while 730 patients remained in isolation or hospital care. The International Coordinating Group on Vaccine Provision approved the release after the government requested doses from the global Ebola stockpile. WHO said 20,000 doses will support a Phase 3 clinical trial focused on Bundibugyo virus disease. The other 50,000 doses will go to frontline and health workers under current vaccination recommendations. WHO and Africa CDC welcomed the allocation, which officials announced on Aug. 20.
WHO incident manager Thierno Baldé said the three-month timeline depends on securing the resources required for the response. The agency has received about $69.3 million of the $115 million it says it needs, or roughly 60%. Teams added more than 400 treatment beds during the past two weeks. They also deployed 100 additional epidemiologists and more than 500 community health workers for surveillance and contact tracing. The response requires vehicles, ambulances, medical supplies and personnel across a growing affected area. Transmission has reached Bas-Uélé, making it the sixth affected province. As of Aug. 12, Ituri accounted for 85% of confirmed cases and 79% of reported deaths nationwide. Officials said 70% to 80% of new cases had no known link to existing patients. Health teams are expanding surveillance to identify cases faster and transfer patients into treatment centers. Bas-Uélé’s first confirmed case had traveled from Haut-Uélé before symptoms began on Aug. 4.
Automotive
German luxury sports car manufacturer Porsche announced an agreement with labor representatives on Monday to reduce its workforce by an additional 5,000 positions by 2035 as part of a restructuring program. The decision brings total planned job eliminations across the company to approximately 9,000 positions, representing roughly 21 percent of its 42,066 workforce. Company leadership confirmed that Porsche to cut 5,000 more jobs under restructuring plan negotiations following months of talks between management and labor councils. The initiative aims to bolster operational efficiency as the vehicle producer confronts declining market share in Asia, elevated global tariffs, and sluggish demand for electric vehicles.