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OpenAI said to have been nearing AI deal with Anthropic

OpenAI and Anthropic have been negotiating a deal to “stress-test” each other’s artificial intelligence models, the Information reported on Monday, citing a person with direct knowledge of the talks.

According to the report, the two AI companies were looking into an agreement to test their models and search for any potential vulnerabilities or security risks, but it is unclear whether they finalized the agreement before OpenAI experienced several security incidents, including one of its AI models escaping a secure test environment and hacking Hugging Face, and its agents attacking the software service RubyGems.

The proposed deal would reportedly give each company access to the other’s APIs for commercially available AI models, excluding unreleased models, with both agreeing not to retain each other’s data. The report added that OpenAI has been considering several scenarios for working with the government on safety, and that it weighed new safety practices targeting the period before models are trained and released.

Stock exchange vows to continue its package of major reforms

The Stock Exchange of Thailand (SET) is pursuing a sweeping package of statutory and structural reforms to strengthen corporate governance, attract high-growth new economy listings and make Thai companies more attractive to investors, says SET chairman Kitipong Urapeepatanapong.

“When I assumed the chairmanship [in May 2024], the Thai stock market was in a deep trough, tumbling towards 1,200 because economic conditions and politics were unstable,” he told the Bangkok Post.

“The moment politics turns unstable, foreign investors simply exit. And Thailand requires foreign investment.”

Since May 2024, the SET index has gained nearly 14%, outperforming Malaysia and Indonesia but lagging gains in South Korea, Taiwan, Singapore and Japan, where valuations for tech companies have risen sharply thanks to the investment boom in AI and related infrastructure.

Mr Kitipong acknowledged that the dominance of “old economy” companies in the banking, utilities and petrochemical sectors in the SET index has contributed to the Thai market’s relative underperformance.

But SET aims to close this gap by attracting new listings from companies that support the physical supply chains central to the AI ecosystem, such as data centres, optical fibre fabricators, and tech and power infrastructure manufacturers.

Mr Kitipong also outlined plans to modernise SET’s fundamental architecture to strengthen investor confidence, boost liquidity and attract new high-performing listings.

This includes new dual-class share structures to attract family-owned businesses and startups, introducing sovereign “Golden Shares” in state-controlled enterprises, strengthening investigative powers for securities regulators, proposing private trust legislation, and scaling up its flagship JUMP+ corporate value programme.

The JUMP+ programme, patterned after the “Corporate Value Up” initiatives of Japan and South Korea, targets listed companies identified as fundamentally sound but undervalued “hidden gems” and assists them in drafting three-year roadmaps across growth, governance and green transition metrics.

“I have proposed to the government that if a company joins JUMP+ and adopts online tax filing, we should grant a dividend tax exemption, waiving the 10% withholding tax for the first three years of profit,” Mr Kitipong said.

“The government expands its revenue base, company valuations rise and everybody wins.”

Under JUMP+, eligible enterprises can access advisory subsidies of up to 5 million baht funded by the Capital Market Development Fund to recruit external management consultants, upgrade operational technology and pursue strategic mergers and acquisitions.

To overcome the reluctance of closely held family enterprises and innovative start-ups to list, the exchange has also proposed amendments to the Public Limited Companies Act to authorise dual-class shares with weighted voting rights.

“Dual-class shares are vital for new IPOs,” Mr Kitipong said, noting that founders frequently reject public listings for fear of losing control. “The owner can float 30 to 40% to secure liquidity but retain 70% of the voting power over board appointments and key management matters.”

Also proposed is a plan to issue sovereign “golden shares” for listed state enterprises such as PTT and Krungthai Bank. By allowing state equity holdings to drop below 50%, enterprise debt is removed from the national public debt, giving management greater commercial flexibility.

In return, the government retains a single statutory Golden Share with absolute veto rights over matters of vital national interest, including public utility tariffs and energy security.

Market regulators are also proposing reforms to strengthen investigative powers to boost investor confidence, including giving the Securities and Exchange Commission authority to conduct direct inquiries, bypassing delays in police investigations.

“Previously, manipulation cases took five or six years to reach prosecutors, and more than half ended with no indictment,” Mr Kitipong said. “Manipulators treated it as an asymmetric gamble: even if caught, the fine was negligible compared to their profits. That degree of regulatory delay hurts deterrence.”

SET has also strengthened its real-time algorithmic surveillance, restricted short selling strictly to large-cap companies, and established a centralised credit bureau to prevent multi-broker margin abuse. SET is also launching a certification programme for listed company directors to boost corporate governance.

Mr Kitipong said SET also supported passing a new trust law to encourage wealthy Thai families to establish trusts and family offices locally rather than offshore.

SET is also working with the Thai Bankers’ Association to encourage small and medium-sized enterprises (SMEs) to abandon the practice of maintaining separate bookkeeping accounts.

Companies that adopt electronic filing, invoicing and payments will receive discounted bank lending rates and automatic credit approvals. The Revenue Department will also offer expedited value-added tax refunds for electronic filers.

“The fundamental reason SMEs cannot access bank financing is that they keep two sets of books,” Mr Kitipong said.

New US sanctions disrupt Iranian airlines’ flights to Azerbaijan

Flights operated by Iranian airlines to Azerbaijan are set to be suspended from September 22 amid new US sanctions targeting Iran’s aviation sector, according to Azerbaijan Airlines (AZAL).

AZAL said the decision was taken in connection with the latest package of US sanctions against Iran, which includes restrictions targeting the country’s aviation industry.

‘Due to the current situation, a decision had to be made to suspend flights by Iranian airlines to Azerbaijan,’ AZAL said.

The US Treasury announced on September 8 that it had sanctioned 36 entities linked to Iran’s aviation sector under its ‘Operation Economic Outcast’, targeting airlines, intermediaries and companies accused of supporting Iran’s aviation industry. The measures also suspended several existing aviation-related authorisations.

However, the status of some flights remained unclear on September 22. Iran Air said it had not received any official notification from Azerbaijan regarding the suspension of its flights to Baku. The airline said its flights to Baku were continuing, according to reports carried by Azerbaijani media.

The conflicting statements come as Washington steps up pressure on Iran’s aviation sector. The latest US measures are aimed at restricting the financial and logistical networks supporting Iranian airlines and increasing the risks for foreign companies providing services to them.

The developments could affect air links between Azerbaijan and Iran, with Iranian carriers operating flights between the two neighbouring countries.

Sajith meets UAE Ambassador; discuss bilateral relations and regional developments

Opposition Leader Sajith Premadasa recently met with the Ambassador of the United Arab Emirates to Sri Lanka, Khaled Nasser Sulaiman AlAmeri, at the Office of the Leader of the Opposition in Colombo.

The meeting focused on strengthening bilateral relations between Sri Lanka and the United Arab Emirates, with particular attention to expanding trade and investment cooperation and identifying new areas in which the two countries could work together.

Discussions also covered the impact of the ongoing conflict in the Middle East on oil supplies and energy prices, and the possible implications for Sri Lanka’s economy and consumers.

The safety and wellbeing of Sri Lankan nationals working in the UAE was also discussed, particularly in the context of the wider regional security situation. Sri Lanka and the UAE have longstanding economic and people-to-people ties, with a significant Sri Lankan community contributing to the UAE’s economy.

The meeting further explored opportunities to deepen cooperation in emerging sectors and to strengthen the economic partnership between the two countries, building on existing cooperation in areas including trade, investment, tourism and development. Recent UAE-Sri Lanka discussions have also highlighted opportunities for expanded economic and tourism cooperation.

Both sides emphasised the importance of maintaining close relations and exploring new avenues of collaboration that can create greater economic opportunities for Sri Lanka and the UAE.

New US Ambassador meets Minister Dr. Anil Jayantha

The newly appointed United States Ambassador to Sri Lanka Eric Meyer met with Labour Minister and Finance and Planning Deputy Minister Dr. Anil Jayantha at the Finance Ministry yesterday (21).

Dr. Jayantha first extended his congratulations to Meyer on his appointment as the new Ambassador. Dr. Jayantha said the country’s economy had now been brought to a stable level following the economic crisis of 2022. The two exchanged views on the importance of foreign investment and trade in moving the country from this stable level towards a transformational stage, and Meyer agreed to provide support towards this purpose.

Meyer expressed his appreciation for the Government’s fiscal discipline and the measures taken to stabilise the economy and attract investments.

Shortage

Another major oil price hike hits consumers today, a week after we endured a price spike. The forecast for this vital commodity is discouraging.

The sharp rise in global oil prices could be the front act for an even more serious problem. There might not be enough oil supply to meet the needs of the world’s economies.

According to a report by global bank JP Morgan, world oil inventories are projected to hit their operational floor this month if the Strait of Hormuz remains constricted. Below this level, pipelines cannot maintain pressure and refineries could start failing.

Should refineries fail, the ability to refine oil into usable products will be impaired. Even if Hormuz fully opens, refineries may have to be rehabilitated. The disruption could last longer. Everything becomes an engineering problem, not only a geopolitical one.

In the weeks after the US attack on Iran, governments tried to manage the movement of oil prices by drawing on their strategic petroleum reserves. The drawdown has been such that the reserves are now exhausted. Without the reserves, there is no way the price shocks could be cushioned. This is the reason oil prices are spiking everywhere.

The worse news is that the geopolitical factors causing the oil crisis are getting more severe. Oil deliveries are not only restricted at the Strait of Hormuz. Deliveries through the Red Sea could be blocked at the Bab al-Mandab strait. Houthi forces, allied with Iran, have launched a surprise offensive that extended their control over Yemen’s coastal areas adjacent to the vital strait.

The Houthi offensive now gives the group better ability to harass commercial shipping. The group managed to attack Saudi oil pipelines, including the east-west pipeline that provided an alternative to shipping oil out of the Persian Gulf.

US forces in the region have yet to participate in pushing back the Houthi offensive despite urgent request to do so from Saudi Arabia. There is talk of an arrangement between the US and the Houthis for the former to desist from attacking the latter in exchange for guarantees American commercial shipping will not be attacked.

Saudi Arabia is in obvious peril. The ruling family there avoided building a strong military because it feared a coup being mounted. Saudi military units are led by members of the royal family, not necessarily the most competent commanders available.

For fear the situation in the region might deteriorate further, European countries and Japan have offered to help in securing the shipping lanes. But this might be too late. Oil shortages may begin affecting the world’s economies in a couple of weeks, setting the stage for recession.

Money trail

We see from the ombudsman’s complaint filed against former speaker Martin Romualdez the sort of painstaking work required to uncover the money trail originating from the flood control scam. Corruption, even on a grand scale, is hard to document. Cash is fungible and receipts are never issued.

Consider the controversy over the Mahayhay-Tuburan road project in Del Carmen, Surigao del Norte. The road was reported as completed. The contractor has been fully paid. But on inspection, the road is only partially built.

The ombudsman has taken notice of this particular project and mentioned Surigao del Norte Rep. Francisco ‘Lalo’ Matugas and his son, former congressman Francisco ‘Bingo’ Matugas II, in connection with this uncompleted project. Both deny any connection with this project.

Investigators have identified the contractor as Boometrix Development Corporation. Ronald Abejo and his wife Princess are the principal shareholders of the contracting firm. Abejo is a nephew of Lalo and first cousin of Bingo.

Family relations is only part of the story, however. It does not firmly establish the involvement of Matugas father and son to the failed project. Construction of the road was sealed in a contract between the DPWH and Boometrix. There is no documentary record that Matugas father and son actually participated in selecting the contractor, implementing the project and certifying the accomplishment for purposes of full payment.

This particular project has a contract price of P85.9 million and a contract effectivity period from March 6 to Oct. 28, 2022. The last payment on record was made on March 24, 2024.

Corporate documents do not show that either Lalo or Bingo were involved at any point as incorporator, shareholder or officer of Boometrix. Neither of the two signed any contract documents for the road project. As far as the documentary evidence goes, neither the father nor the son is implicated.

The ombudsman suggests the two politicians are involved in this anomaly. This is a tough matter to prove. The anti-graft agency needs to go beyond the family relationships and the documentary evidence. They will have to find something that connects the two politicians to the anomalous project.

Bringing Boometrix to court to account for a fully paid but unfinished project is easy. Establishing that this anomaly was made possible because of some act of political brokerage is what will challenge the investigators.

There are tens of thousands of public works projects akin to this one. They are either unfinished, substandard of completely ghost. In each of them, politicians are suspected of involvement.

But mere suspicion does not produce conviction. The case against Martin Romualdez and whatever possible case might be filed over this incomplete road in Surigao del Norte requires heroic investigative work.

Kazakhstan tightens transport and inspection rules

Kazakhstan has tightened requirements for vehicle inspection centers and passenger transportation services as part of a broader effort to improve road safety.

Minister of Transport Nurlan Sauranbayev announced the new measures during a government meeting. According to him, companies operating technical inspection centers will now be required to obtain a special permit. Penalties for violations have also been increased from 30 to 100 MCI (monthly calculation index), which is equivalent to approximately 130,000-430,000 tenge, or around 500-1,650 AZN.

The minister emphasized that inspection centers conducting only ‘formal’ inspections without properly checking vehicles could have their operations suspended for up to three years. The authorities want to prevent situations in which vehicles receive certificates of roadworthiness without undergoing a real technical inspection.

The government is also taking measures in the passenger transportation sector. In cooperation with the Ministry of Internal Affairs and ride-hailing services such as Yandex and inDrive, authorities have removed around 70,000 right-hand-drive vehicles from passenger transportation services.

In the future, Kazakhstan plans to introduce a legal ban on using right-hand-drive cars that have been converted to left-hand drive as taxis. The government is also considering stricter liability for passenger transportation aggregators to ensure that vehicles and drivers operating through their platforms meet safety requirements.

Road safety was another major topic discussed at the government meeting. Prime Minister Olzhas Bektenov paid particular attention to drivers of cars and motorcycles that produce excessive noise, especially at night. He called for stricter measures against such violations in order to protect residents from unnecessary noise and improve public safety.

Interestingly, vehicle noise is not only an issue of comfort. Extremely loud exhaust systems can also make it more difficult for emergency vehicles, pedestrians and other drivers to hear important sounds on the road. This is why several countries have introduced special noise limits and roadside inspections for cars and motorcycles.

The new measures are part of Kazakhstan’s broader efforts to make transportation safer, improve technical inspections and strengthen control over passenger services.

UNITED NATIONS-POLITICS-Suriname outlines criteria for incoming UN Secretary General

Suriname Tuesday said the in-coming United Nations Secretary General must portray strong commitment to multilateralism, dialogue, and the rule of law as it endorsed the Guyana diplomat Carolyn Rodrigues-Birkett for the position.

‘Many capable candidates, including women leaders, who have taken up the challenge have been put forth, and for the first time in history, we have a female candidate from the Caribbean,’ Suriname President Jennifer Geerlings-Simons told the 81st session of the United Nations General Assembly (UNGA).

The incumbent Antonio Guterres will office at the end of December at the end of his second five-year term

President Geerlings -Simons told the international community that the 15-member regional integration movement, CARICOM, endorses Rodriques-Birkett’s candidacy, adding ‘we are at that time in history where trust in the United Nations must urgently be restored.

‘Suriname will do what we can, and we call on the more influential members of the United Nations to help maintain peace, to make sure that there is peace in the world, because only a United Nations capable of safeguarding international peace and security will deliver for all,

she added.

Earlier, the Suriname Head of State said that her country is firmly committed to the upholding of international law ‘as we depend on a rule-based international order without which, like many other vulnerable nations, we simply cannot exist as sovereign countries’.

She said the consistent application of international law and the strengthening of its institutions is also essential to maintain international peace and security, protect human rights, and ensure sustainable development for all.

President Geerlings-Simons said that the international community is experiencing profound uncertainty, including energy and food security crises, leading to intensified displacement of many people globally.

‘Armed conflicts continue to claim innocent lives, while geopolitical tensions escalate. Children are living through unimaginable horrors. The United Nations has not been able to prevent this or to end the continuation and we have to ponder on that. ‘

She said other developments, for example in the Strait of Hormuz, demonstrate how quickly wars can affect energy markets, suddenly and steeply increasing the cost of energy, adversely impacting economic and social development.

‘Common people suffer when food and energy prices rise, so the quality of life of our people is directly threatened, even by wars in regions far from their homes. And we as government, we have to make sure that we try to protect them.’

She said Suriname is therefore calling for a renewed commitment to the purposes and principles of the UN Charter, namely the peaceful resolution of disputes, insisting that ‘dialogue is paramount for safeguarding a solid and proven UN system.

‘The people of Cuba, a Caribbean country, are adversely affected by the current situation in their country. Suriname calls on the parties involved to remain committed to dialogue and negotiation, to end the economic, commercial, and financial embargo.

‘We plead for continuing of negotiations in order to prevent further escalation and to reach a resolution that will benefit the people of Cuba,’ she said.

The United States, which has in place a decades old trade and economic embargo against Havana, has in recent months stepped its programme of seeking to remove the government on the island.

The aggressive strategy, led by the Donald Trump administration has pushed the island into an unprecedented humanitarian and economic crisis, and following Washington’s removal of the Nicolás Maduro government in Venezuela, it has completely halted Venezuelan oil shipments to Cuba, cutting off the island’s primary energy lifeline.

In her address, President Geerlings-Simons also called for sustained international support for Haiti to restore security, constitutional order, and democratic governance.

‘Suriname supports solutions that place the Haitian people at the centre,’ she said, adding that reform must protect and improve the United Nations’ capacity to deliver and also make the system easier to navigate.

‘It should not reduce support where it is most needed. Equally important is the overdue reform of the Security Council. Hence, Suriname reiterates its call for making it more representative, more accountable, and more capable of acting.’

She said the Dutch-speaking CARICOM country supports Africa in its demand for ‘just permanent representation’ on the UN Security Council, adding ‘likewise, we underscore the relevance of a dedicated representation for small island states and low-lying coastal developing states’.

President Geerlings-Simons said that regional and international partnerships remain indispensable to achieve economic and social objectives as Suriname continues to actively engage in various regional bodies and mechanisms, including CARICOM, the Community of Latin American and Caribbean States (CELAC) and Brasilia Consensus.

‘As Suriname prepares to be the chair of the Caribbean community CARICOM in 2027 we are also committed to further strengthen our partnership globally in different areas of shared interest.

‘Our regional priorities are practical. Food and energy security, climate resilience, improved connectivity and movement of skilled people, transportation of goods and services,’ she said, adding ‘these are essential to economic integration and our ability to withstand external shocks’.

She said that the pursuit of restorative justice gained new momentum with the adoption of the resolution n slavery and transatlantic trafficking of enslaved Africans in March this year.

‘This development is relevant for Suriname and equally important for the countries of the Caribbean region. The discussion is no longer about whether slavery and colonialism have caused lasting consequences, negative consequences.

‘We know we are living them. We increasingly must focus on how to overcome these effects and on the question of what form reparation should take to achieve that. How countries that have benefited from slavery and colonialism will compensate the effect.

‘That is the important issue now. It is therefore that the CARICOM 10-point plan for restorative justice is now of eminent importance,’ she told the UNGA.

President Ilham Aliyev: The new program reflects our agenda on the socio-economic development of regions

‘The Program on the development of the mining and metallurgical industry must be implemented in just four years-fully executed between 2027 and 2030,’ said President Ilham Aliyev during a meeting dedicated to the State Program on the development of the mining and metallurgical industry.

The head of state noted that the new program to be adopted also reflects the agenda regarding the socio-economic development of the regions.

NUC approves WATS to award degrees in CRS

The National Universities Commission (NUC) has approved the West Africa Theological Seminary (WATS), Ipaja, Lagos, as a degree-awarding institution for undergraduate programmes in Christian Religious Studies.

The approval represents a major development in the seminary’s more than four decades of theological education, academic training, and ministry formation.

WATS also announced that it recently secured full accreditation from the Association for Christian Theological Education in Africa (ACTEA), a continental body responsible for coordinating and accrediting theological education in Africa.

Reacting to the NUC approval, the provost, Pastor Olufemi Emmanuel, said the development marked the culmination of decades of efforts by the institution to obtain national recognition.

Emmanuel, in a statement by the WATS’ Coordinator, Communication and Church Relations, Isaac Daramola stated that the seminary had satisfied the requirements for the approval and will now be able to provide theological education and award degrees in Nigeria’s higher education regulatory framework.

‘For decades, WATS pursued this national recognition and met every rigorous requirement. While we remain grateful for our international and local partnerships, this NUC approval affirms our capacity to deliver world-class theological training and award degrees under Nigeria’s highest academic regulatory framework,’ he said.

The provost said the approval complements WATS’ existing academic affiliations with the University of Nigeria, Nsukka, and Asbury Theological Seminary in the United States.

Emmanuel also disclosed that the seminary had received confirmation of its full ACTEA accreditation.

The seminary described the NUC approval and ACTEA accreditation as significant milestones in its longstanding commitment to theological education and ministry preparation.

Meanwhile, WATS has announced plans to host a three-day discipleship conference designed to equip church leaders and ministry workers with practical and biblical tools for effective discipleship.

The conference will focus on strengthening the capacity of ministry practitioners to promote effective Christian discipleship in their churches and communities