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President Asif Ali Zardari on Wednesday met CEO of Hangzhou Jinjiang Group Wang Jian, and encouraged the company to expand its footprint in Pakistan, particularly in energy, industrial and agricultural sectors. During the meeting, the president was briefed that the group is already engaged in multiple projects in Pakistan and ranks among the top 100 business groups in China, with operations spanning heavy industry, fertiliser, oil and gas, coal gasification, renewable energy, agriculture and irrigation. The president noted that Pakistan is actively encouraging foreign investment in various sectors, especially water treatment, electric vehicle battery systems and alternate energy. He emphasised…

Asian stocks fluctuated on Wednesday while oil prices swung as talks to end the Iran war appeared to be at a standstill and the crucial Strait of Hormuz no nearer being reopened. While the White House has said Donald Trump and his team were considering Tehran’s latest proposal to restore traffic through the waterway, CNN and the Wall Street Journal said the president was sceptical. The Islamic republic this week submitted a plan that would reportedly see it ease the chokehold and Washington lift its retaliatory blockade on the country’s ports as talks continued, including over its nuclear programme. While US Secretary of State…

Pakistan’s permanent envoy to the United Nations on Tuesday called for restraint, diplomacy and strict adherence to international law amid escalating tensions across the Mideast, warning that the situation remains volatile and interconnected. Addressing a UN Security Council debate, Ambassador Asim Iftikhar Ahmad stressed that multiple crises in the region require urgent de-escalation efforts. “The serious situation in the Middle East remains extremely volatile with multiple and interconnected crises. In this environment, strict adherence to international law, the UN Charter and Security Council resolutions, the principles of restraint, responsible conduct and diplomacy are indispensable to prevent further escalation,” the ambassador…

Alphabet’s Google joined a growing list of technology firms to sign a deal with the US Department of Defence to use its artificial intelligence models for classified work, The Information reported on Tuesday, citing a person familiar with the matter. The agreement allows the Pentagon to use Google’s AI for “any lawful government purpose”, the report added, putting it alongside OpenAI and Elon Musk’s xAI, which also have deals to supply AI models for classified use. Classified networks are used to handle a ⁠wide range of sensitive work, including mission planning and weapons targeting. The Pentagon signed agreements worth up…

Pakistan’s satellite internet framework has entered its final phase, with the federal cabinet expected to approve the licensing structure for fixed satellite services. Federal Minister for IT and Telecommunication Shaza Fatima Khawaja has reported in a progress report to parliament regarding satellite internet developments. The final stages of establishing a comprehensive regulatory framework for satellite communication are under way. This includes draft Satellite Communication Regulations, incorporating non-geostationary satellite orbit (NGSO) and other operational rules, prepared by the Pakistan Space Activities Regulatory Board (PSARB). The consultation process on these regulations has already been completed. Meanwhile, the Pakistan Telecommunication Authority (PTA) has…

Meta Platforms (META.O) ​is preparing ‌to unwind its ​acquisition of ​the artificial intelligence ⁠startup ​Manus after ​China blocked the deal ​on ​national security grounds, ‌the ⁠Wall Street Journal reported on ​Monday, ​citing ⁠people familiar ​with ​the ⁠matter. Earlier, China ordered U.S. tech giant Meta (META.O) to unwind its $2 billion-plus acquisition of artificial intelligence startup Manus on Monday, as Beijing tightens scrutiny of U.S. investment in domestic startups developing frontier technologies. The National Development and Reform Commission’s move ​highlights China’s commitment to stopping U.S. firms acquiring Chinese AI talent and intellectual property, as Washington tries to limit Chinese tech firms’…

Microsoft (MSFT.O) and OpenAI renegotiated a ‌pact that let Microsoft exclusively sell the ChatGPT creator’s artificial intelligence models, clearing the way for the startup to forge new deals with rivals to the software and enterprise giant, including Amazon (AMZN.O). The loosened ties between Microsoft and OpenAI, which have been expected for a while, are a sweeping change to one of the AI era’s most consequential alliances. It is arguably advantageous for both companies. Microsoft shares initially fell 1.3% on the news but closed largely unchanged. Alphabet closed up 1.81%, while Amazon closed down 1.1%. Microsoft’s early investment, totaling $13 billion…

 An image of Donald Trump will soon appear in some US passports, officials said , shattering another norm as the president aggressively puts his personal stamp on government institutions. There are few precedents anywhere in the world, let alone in a democracy, of displaying sitting leaders’ pictures in passports, and Trump would be the first sitting US president featured in Americans’ travel documents. The State Department said it would offer the limited-edition passport to mark this year’s 250th anniversary of the US Declaration of Independence. The department – which has historically viewed itself as outside US partisan politics – posted…

Britain’s King Charles told the US Congress on Tuesday that the United Kingdom and the United States must remain “staunch allies” in a more uncertain and dangerous world, even as deep divisions over the war with Iran have strained relations between the two longtime partners. Speaking during a rare joint meeting of the Senate and House of Representatives, Charles called for unity in defending democracy, supporting Ukraine, strengthening NATO and resisting isolationism. King Charles entered the chamber alongside Queen Camilla to a prolonged standing ovation before delivering one of the most significant diplomatic speeches of his reign. “Whatever our differences,…

The US government ratcheted up pressure on Tehran on Tuesday, imposing ​sanctions on 35 entities and individuals for their roles in Iran’s shadow banking sector, and threatened sanctions against banks doing business with Chinese “teapot” refineries that it ‌said are paying tolls for shipments to cross the Strait of Hormuz. The Treasury Department’s Office of Foreign Assets Control said the designated individuals and firms had facilitated the movement of the equivalent of tens of billions of dollars tied to sanctions evasion and what it called Iran’s sponsorship of terrorism. OFAC separately warned banks against doing business with any firm paying…