China's top economic planning agency has ordered the cancellation of Meta's planned US$2 billion acquisition of Manus, a Singapore-based AI agent startup. The directive came directly from the National Development and Reform Commission, which told the parties involved to call off the deal entirely. Manus, despite being registered in Singapore, has Chinese roots, its founding team is largely from China, which appears to have given Beijing the standing to intervene. The move fits a broader pattern of China using regulatory and administrative levers to block the transfer of AI technology and talent to US tech giants. Meta had been seeking Manus for its AI capabilities at a time when both countries are racing to lead in artificial intelligence development. The block leaves Meta without the deal and Manus in an uncertain position. It also signals that Chinese authorities are willing to act across borders when they believe strategic technology assets are at stake, even if the target company is incorporated outside mainland China. Watch for whether Meta pursues alternative AI acquisition targets or shifts toward building similar capabilities in-house.
Qatar's foreign ministry said mediators including Qatar, Pakistan, and Oman have reached "very progressive stages" in efforts to end the US-Iran war, pushing Brent crude down more than four percent.
Qatar confirmed it is mediating between the US and Iran but said no direct talks are currently planned. The clarification follows conflicting statements from President Trump, who claimed talks are under way, and Tehran, which denied any dialogue is happening.
Saudi Aramco reported sharply higher second-quarter 2026 profits as the Iran war restricts global oil supply and pushes crude prices up. Other oil supermajors also posted outsized earnings, raising concerns about sustained fuel cost pressure for importing economies.
President Trump called current Iran negotiations the "last chance" to end five months of conflict, pushing oil prices higher. Tehran denied formal talks are taking place, raising the risk of a diplomatic breakdown with direct consequences for global energy markets.
