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China has significantly strengthened its energy and resource security over the past five years, with a state-led exploration push discovering 13 new oil fields each holding over 100 million tonnes of reserves. The findings were released during a Ministry of Natural Resources (MNR) press conference . Historic oil and gas haul The 14th Five-Year Plan period (2021-2025) saw China’s oil and gas exploration hit new heights. Total investment in the sector reached nearly 450 billion yuan, said Xiong Zili, head of exploration management at MNR. Beyond the headline-grabbing 13 hundred-million-tonne oil fields, explorers also found 26 gas fields, each with…

Chinese Foreign Minister Wang Yi said  that China and Australia should jointly stand on the right side of history and on the side of multilateralism, jointly uphold the global free trade system and maintain the stability and smooth functioning of industrial and supply chains, play a constructive role in the political settlement of hotspot issues, and promote the building of a more just and equitable global governance system. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when holding the eighth China-Australia diplomatic and strategic dialogue with Australian Foreign Minister…

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…