Australia will invest an additional US$3.2 bln to build nuclear-powered submarines, Defence Minister Marles said, calling it another key step in establishing sovereign capability and saying Australia needs the capacity to build, operate, maintain and secure its future submarine fleet.

Traders' bets on the ECB held steady, pricing in 48bps of rate hikes by year-end.

At a July 24 server industry supply-demand event in Dongguan, municipal authorities launched the Dongguan Computing Power Industry Island and invited global compute firms to settle there. The project in Shatian town is presented as the Pearl River Delta’s rare — and Dongguan’s only — near-10,000-mu contiguous industrial zone dedicated to compute hardware. The island consolidates 9,000 mu of industrial land with a permitted gross floor area of 7.3 million sqm. Under city-level top planning, Dongguan plans to invest 100 billion yuan over the next five years to develop the site and targets, by 2030, making it the core growth pole of a 500 billion yuan AI server industry cluster.