19/05/2025

BIZ & FINANCE MONDAY | MAY 19, 2025

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Robots will not replace human workers: Beijing

Turkiye discovers new natural gas reserve in Black Sea ISTANBUL: Turkiye has discovered a new natural gas reserve in the Black Sea that will meet its residential energy needs for more than three years, President Recep Tayyip Erdogan said on Saturday. “We have discovered 75 billion cubic metres of new natural gas. “With this amount, we will meet the needs of our homes alone for about 3.5 years,” he said. Erdogan valued the reserve as worth some US$30 billion (RM129 billion). “Our work at the Goktepe-3 well, which started on March 27 with our seventh generation drilling ship Abdulhamid Han , was completed yesterday,” he said. Turkiye is still highly dependent on imports to cover its energy needs, though Erdogan stressed Ankara’s desire to achieve energy independence. “We will continue on our path without stopping, without resting, and without paying heed to criticism or obstacles until we reach our goal of a fully energy-independent Turkiye.” – AFP Several ministers and several senior officials, former president Ilir Meta, and the mayor of Tirana – a close Rama associate – are currently in detention on suspicion of embezzlement. – AFP Macron urges investment in Europe as Albania nears EU goal TIRANA: French President Emmanuel Macron on Saturday invited foreign investors to come to “stable” Europe, including to Albania, which he sees obtaining EU entry in 2027. Europe “is a stable and reliable place,“ he told economic forum “Priority Europe”, organised by the Future Investment Initiative (FII) institute of advertising executive Richard Attias. “And in this crazy world, don’t underestimate the strengths of such qualities,” Macron said at the Tirana event aimed at connecting European leaders and innovators with sovereign wealth funds and Middle East, Asia and US business leaders. “Here in Albania, clearly, you have the entry point in this region of Western Balkans, but much more broadly it’s a key point in the Mediterranean place and Europe. “And in two years to come, as now he has a clear mandate, he will join the EU,” added Macron, referring to Albanian Prime Minister Edi Rama. Albania entered talks to join the European Union in 2022 and Rama said that the process could conclude with the country joining in 2027 if all goes to plan. “That would be incredible,” said Rama in an interview with AFP. The country of some three million is by far the most pro-EU in the Balkans. In 2024, 92% of those questioned in a poll said they would vote “yes” if a referendum were held on EU membership compared to 40% in Serbia. The challenges of meeting accession requirements remain sizeable, notably in terms of combating corruption.

limits, and the machines have their own track where they jointly challenge their limits – but they aren’t trying to take over the human course to sprint to the finish line. “The future will be like this too,” Liang said. Liang spoke to reporters at the headquarters of state-backed X-Humanoid, also known as the Beijing Humanoid Robotics Innovation Centre, whose robot Tiangong Ultra won the inaugural robot half-marathon. Besides the sports-focused Ultra model, which can reach a top speed of 12 kph, the centre also displayed other protypes that showed it was working on robots that can complete mundane tasks in the face of obstructions and changing environments. In one demonstration, an employee repeatedly moved the position of a piece of litter or snatched it from the robot’s hand, which would then relocate the object and carry out the task until it was completed, a self-corrective ability the centre says will be key in turning the humanoids into productive workers. – Reuters

o Humanoid machines to do dangerous and mundane tasks

BEIJING: China’s humanoid robots will not replace human workers and cause mass unemployment, according to a Chinese official who oversees a tech hub in Beijing, amid a rapid expansion of the sector and state funding for it. Liang Liang, a deputy director at the Beijing Economic-Technological Development Area, which hosts one of China’s largest tech hubs, said in an interview with foreign media that he does not believe that humanoid robots will replace their human creators, but will boost productivity and operate in hazardous environments. “We don’t believe robots will make people unemployed, but rather they’ll boost efficiency or take on tasks humans are unwilling to do – like exploring the vast universe or the ocean depths where people can’t go.

“Machines can assist us in that exploration. “When it’s nighttime and humans need rest, machines could keep working, giving us better, cheaper, and more user-friendly products. “So we see this as the direction for our future development,” he added. Liang explained that the world’s first robot half-marathon held last month in Beijing was deliberately set up in a way that would highlight his and other officials’ hopes that these humanoids will support and assist humans, rather than replace them. The half-marathon featured two tracks separated by a railing, with humans competing against each other on one side while on the other side 20 teams each operated a robot, varying wildly in size and ability. “You see, in the marathon, humans have their track where they push their physical

Humanoid robot Walker S picking up objects operated by a staff member, during a demonstration simulating a factory’s assembly line, at the Beijing Robotics Industrial Park. – REUTERSPIC

UK to strike deal with EU in coming days: PM’s office LONDON: UK Prime Minister Keir Starmer is set to sign a new deal with the EU seeking to reset ties after Brexit, his office said on Saturday ahead of landmark talks. the previous Conservative government. That deal “isn’t working for anyone”, Starmer’s office said.

der Leyen and Antonio Costa as well as top EU diplomat Kaja Kallas for today’s talks at the storied Lancaster House venue in London. “The prime minister will set out how a strengthened, forward-looking partnership with the European Union will deliver for working people and lead to more money in pockets,” the statement said. Talks looked set however to go down to the wire due to last-minute squabbling over long-standing issues, such as fishing rights and food checks. But negotiators were hopeful of at least signing a defence and security partnership. Starmer, elected Labour prime minister last July, wants a deeper relationship with the European Union than the one negotiated by

The move is aimed at opening the door to closer cooperation as both the EU and Britain race to rearm in the face of the threat from Russia and fears the United States under President Donald Trump will no longer help protect Europe. That should mean more regular security talks, Britain considering joining EU military missions and the potential for London to fully tap into a €150 billion (RM717 billion) defence fund being set up by the bloc. In an interview with The Times on Saturday, Starmer said a deal would be a “really significant moment”. – AFP

Starmer will meet today with EU chiefs for the first post-Brexit EU-UK summit aimed at agreeing steps towards a closer relationship between Britain and the 27-country bloc which it left five years ago after an acrimonious and knife-edge referendum. “This week, the prime minister will strike yet another deal that will deliver in the national interest of this country,” Downing Street said in a statement, also pointing to recent trade deals with the United States and India. Starmer will welcome EU bosses Ursula von