India orders government-developed app to be installed on all smartphones

Good morning and welcome again to FirstFT Asia. In at the moment’s e-newsletter:

• Indian government-developed app triggers snooping issues

• OpenAI declares “code purple”

• China’s booming pharma business

We begin in India, the place the telecoms ministry has demanded that Apple and different smartphone makers set up a authorities cyber safety app on new handsets, elevating issues about privateness. Right here’s what to know.

In regards to the app: The ministry-developed app, known as Sanchar Saathi, can have entry to the phone’s call log, memory and camera, in keeping with the app’s privateness assertion. The federal government has demanded that producers have the app pre-installed on telephones on the market in India, which it stated was supposed to curb “misuse of telecom assets for cyber frauds and [ensure] telecom cyber safety”.

Snooping issues: Privateness advocates argue that the app dangers giving the federal government extra surveillance powers. The directive “represents a pointy and deeply worrying enlargement of govt management over private digital gadgets”, stated Apar Gupta, the director of Web Freedom Basis, an organisation selling free speech on-line in India. The order may additionally put Prime Minister Narendra Modi’s authorities in battle with smartphone makers and builders together with Apple and Google.

Read the full story.

Right here’s what else we’re holding tabs on at the moment:

• Financial knowledge: Australia and South Korea report third-quarter GDP knowledge. S&P International companies PMI is due for China, Japan, India, Singapore and Australia.

• Europe-China relations: French President Emmanuel Macron begins a three-day visit to Beijing, the place he’s anticipated to be the most recent European chief to warn about China’s crushing commerce surpluses with the continent. Scroll all the way down to at the moment’s Chart of the Day for extra.

• Books: The Monetary Instances and Schroders Enterprise E book of the 12 months is introduced at a ceremony in London and on-line. Here is the shortlist.

Be part of senior FT editors at the moment for a dialogue on what’s going to form the yr forward. Register for free.

5 extra high tales

1. Robust demand for Japanese authorities bonds helped to calm Asian markets yesterday, a day after hawkish feedback from the central financial institution governor sparked a world sell-off. The yen steadied and fairness markets have been flat, with traders reassured by demand at an auction of Japanese government bonds.

2. Vladimir Putin accused European nations of undermining Washington’s efforts to finish the warfare in Ukraine, as US envoy Steve Witkoff held talks with the Russian president in Moscow yesterday. In a belligerent speech at a Moscow investment forum, Putin threatened to “minimize Ukraine off from the ocean fully” in retaliation for assaults on Russia-linked tankers.

• Associated information: The European Central Financial institution has refused to backstop a €140bn payment to Ukraine, dealing a blow to an EU plan to lift a “reparations mortgage” backed by frozen Russian belongings.

3. OpenAI chief govt Sam Altman has declared a “code purple” over the necessity to enhance ChatGPT, as rivals Google and Anthropic slim its early lead within the race to develop synthetic intelligence. In response to an inner memo despatched on Monday, Altman instructed workers the $500bn start-up was planning to delay different merchandise as “we are at a critical time for ChatGPT”.

4. Donald Trump stated he would announce his decide to guide the Federal Reserve “early subsequent yr”, as he touted Kevin Hassett, the highest White Home financial official, because the “potential” new head of the US central bank. The president’s feedback observe a months-long choice course of to switch Jay Powell as Fed chair that’s nearing its conclusion.

5. Belgian police detained the EU’s former high diplomat Federica Mogherini and a senior Brussels official yesterday in a probe into suspected fraud over contracts to coach junior officers. Read more about the raids on the EU’s diplomatic arm in Brussels and the Faculty of Europe in Bruges.

The Huge Learn

China’s biopharmaceutical corporations are creating medication sooner and extra cheaply than overseas rivals due to a surge in funding and improved provide chains. However can the nation’s business match rivals like AstraZeneca and Pfizer?

We’re additionally studying . . . 

• India’s labour reforms: Any rapid prices for companies and employees will likely be greater than offset by the long-run benefits of the federal government’s modifications, writes the editorial board.

• The billionaires and the financial institution boss: A 35-page warrant seen by the FT alleges a plot to seize control of Generali, one of many key gamers in Italian finance.

• Tech start-ups: A new ritual has taken hold in Silicon Valley and it’s changing the pitch deck for entrepreneurs hoping to lift finance, writes Amber Atherton.

Chart of the day

European producers are increasing their investment in Chinese factories, regardless of rising nervousness among the many continent’s political leaders about industrial dependence on the world’s exporting superpower.

Take a break from the information . . . 

Ariella Budick, the FT’s US artwork critic, shares her top-10 favourite works in Washington DC, as a part of FT Globetrotter’s new guide to the capital.