Web Desk

ISLAMABAD: Pakistan Deputy Prime Minister and Foreign Minister Ishaq Dar spoke with his Chinese counterpart Wang Yi on Friday regarding the situation in the Middle East, said a post on the minister&rsquo;s X account. Yi conveyed China&rsquo;s &ldquo;appreciation and support to Pakistan&rdquo; for its role as a mediator in the conflict, according to the post on X.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowtransparency="true" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2037473118588178909&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=fd25b5b85ace2f874ce6272131a6b0e4c68e6067&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;" data-tweet-id="2037473118588178909"></iframe></div></div>&ldquo;It was a pleasure to speak today with my friend, Wang Yi,&rdquo; Dar added that both sides&nbsp;&ldquo;reaffirmed the need to restore peace&rdquo; and &ldquo;stability in the Middle East and the wider region.&rdquo; Dar also mentioned that during the conversation, both parties agreed to put efforts into &ldquo;an immediate end to hostilities, resumption of peace talks, protection of non-combatants, security of shipping lanes, and adherence to the UN Charter.&rdquo; &ldquo;We also agreed to continue our endeavors for the resolution of all disputes through dialogue and diplomacy,&rdquo; the deputy prime minister concluded.&nbsp;

Foreign Affairs

Ishaq Dar and Wang Yi discuss Middle East tensions, reaffirming support for peace talks, protection of civilians and shipping lanes, and a diplomatic resolution to the conflict.

China appreciates, supports Pakistan’s role in Middle East conflict: Chinese FM

BEIJING: Chinese electric vehicle giant BYD said on Friday its annual net profit in 2025 fell 19 percent from a year earlier as it battled weak spending and fierce competition at home while looking to expand overseas.&nbsp;BYD&#39;s net profit attributable to shareholders last year was 32.6 billion yuan ($4.7 billion), down from 40.3 billion yuan in 2024, the company said in a filing to the Hong Kong Stock Exchange.&nbsp;BYD -- which uses the English slogan &quot;Build Your Dreams&quot; -- has emerged in recent years as the clear leader in China&#39;s highly competitive EV market, the world&rsquo;s largest.&nbsp;China&#39;s EV industry is world-leading but a cutthroat domestic market has weighed on profitability, with BYD and other carmakers turning to overseas markets in response.&nbsp;Scrutiny of the EV market is also growing, with a top industry group rebuking Chinese automakers last May for fueling a price war, a week after BYD announced sweeping trade-in discounts.&nbsp;&quot;Competition in the NEV industry has reached a fever pitch, and is undergoing a brutal &#39;knockout stage&#39;,&quot; BYD&#39;s chairman Wang Chuanfu said in a statement, using an acronym for new energy vehicles.&nbsp;BYD recorded 804 billion yuan in revenue last year, up a modest 3.5 percent compared to 2024.&nbsp;Its annual revenue surpassed that of its American rival Tesla in 2024 and crossed the symbolic $100 billion mark, at 777 billion yuan.&nbsp;However, profit in the third quarter of 2025 slumped by 33 percent year-on-year, its second consecutive quarterly decline.&nbsp;The recent slowdown comes after a period of sustained, intense growth, and BYD&#39;s profit in the first quarter of 2025 was a record for the company in that reporting period.&nbsp;BYD&#39;s overseas ambitions appear to be gathering pace, with its vehicles now operating in &quot;119 countries and regions worldwide&quot;, according to Friday&#39;s filing.&nbsp;It sold more than 13,000 units in European Union countries in September, a year-on-year increase of 272.1 percent, according to a report by the European Automobile Manufacturers&#39; Association.

Business

Chinese EV maker BYD reported a 19% drop in 2025 net profit due to weak demand and intense competition, despite rising revenue and expanding global sales as it targets overseas markets for growth.

Chinese EV giant BYD says annual net profit down 19 percent 

VIENNA: Austria on Thursday announced it will soon ban social media for children up to the age of 14, saying it spawned addiction, glorified violence, spread misinformation and set unrealistic beauty standards.&nbsp;&quot;It is almost impossible for parents to control their children&#39;s consumption&quot; on these platforms, which are designed to make them &quot;deliberately dependent,&quot; Vice-Chancellor Andreas Babler told a press conference.&nbsp;The country of 9.2 million hopes to be able to present the new law &quot;as early as this summer&quot; so it can enter into force &quot;as quickly as possible,&quot; he said.&nbsp;Babler said Austria will target platforms using &quot;algorithms that create addiction, generate profits and have harmful effects&quot;.&nbsp;Babler said children were &quot;left to their own devices in a world where they are confronted, for example, with unrealistic beauty ideals, the glorification of violence, disinformation, and where they are also manipulated.&quot;&nbsp;But he said there was still no consensus among the three parties in the ruling coalition regarding the verification method that will be put in place.&nbsp;A three-week &quot;no mobile phone&quot; experiment, led by the education ministry and involving 72,000 pupils and their families, has just ended in Austria.&nbsp;&quot;The feedback we have is that this has been a kind of withdrawal experience for the pupils and that they are aware of the harmful effects of their excessive consumption,&quot; Education Minister Christoph Wiederkehr told the news conference.&nbsp;In addition to the ban itself, the Austrian government plans to introduce a new compulsory subject in schools called &quot;Media and Democracy,&quot; intended to help pupils distinguish truth from falsehood and recognize anti-democratic attempts at influence.&nbsp;The far-right FP&Ouml; party, which came first in the 2024 legislative elections without managing to form a government, denounced the move as a &quot;frontal assault on freedom of expression&quot;.&nbsp;&quot;Now that critical voices, alternative media and patriotic forces are gaining reach on social networks, they suddenly want to impose bans and censorship measures,&quot; FP&Ouml; MP Katayun Pracher-Hilander said.&nbsp;Several European Union countries have announced their intention to introduce a digital age of majority for social networks, such as France, Spain and Denmark, while others are actively considering it.&nbsp;In the United States, Meta and Google were found liable on Wednesday for contributing to a teenage girl&rsquo;s depression via Instagram and YouTube by a Los Angeles civil court, which also ruled that the two California giants were responsible for not sufficiently warning young users about the risks of overconsumption, even though they were aware of this danger.&nbsp;On Tuesday, a jury in Santa Fe in the United States found Meta liable for endangering underage users of Facebook and Instagram.

Artificial Intelligence

Austria plans to ban social media for children under 14, citing addiction, misinformation, and harm. The government will introduce new laws, education measures, and age checks, though critics warn it threatens free expression.

Austria to ban social media for children under 14

Pakistan TV Satellite

ISLAMABAD: Former Pentagon spokesperson Dana W. White has described Prime Minister Shehbaz Sharif&rsquo;s offer to facilitate talks as a &ldquo;very smart&rdquo; and strategic move. Speaking in Pakistan TV&rsquo;s programme Newsroom with Sana Maqbool, Dana W. White said the offer underscores Pakistan&rsquo;s constructive role in advancing diplomatic engagement and helping de-escalate tensions. White said the initiative demonstrated foresight on Islamabad&rsquo;s part, adding that President Trump&rsquo;s public acknowledgement of the offer reflected &ldquo;a great deal of respect&rdquo; for Pakistan. The former Pentagon spokesperson said the development could positively shape bilateral ties, particularly at a time when Trump has voiced dissatisfaction with NATO, Great Britain, and Europe, making new and willing partners more significant. She further said the move aligned with Trump&rsquo;s stated desire to end bloodshed quickly, arguing that he requires partners ready to help resolve the crisis.&nbsp; According to White, Pakistan is well positioned to assist in these conversations and could play a meaningful role in moving diplomatic efforts forward. Dana W. White said Washington believes there is still a possibility of a deal with Tehran, but warned that President Trump &ldquo;is not going to wait forever&rdquo;, pointing to ongoing backchannel communications despite what she described as public &ldquo;bluster&rdquo; from Iran.&nbsp; She said the United States&rsquo; objective remains unchanged, which was dismantling Iran&rsquo;s nuclear ambitions and ballistic missile capabilities.&nbsp; The former Pentagon spokesperson said while US military operations have degraded Iran&rsquo;s missiles and drones, attention is now shifting to diplomacy and identifying credible interlocutors.&nbsp; She said Washington and its allies may look beyond ideological leadership toward mid-level military figures and other actors willing to engage. She also emphasized that regional players, including Gulf states and potentially Pakistan, could help shape post-conflict dynamics, while Iran may seek an &ldquo;exit ramp&rdquo; that allows it to save face.&nbsp; White said Trump is pursuing a dual-track approach of pressure and diplomacy, insisting that Tehran must eventually come to the negotiating table or face further consequences.

The Newsroom

Former Pentagon spokesperson Dana W. White said PM Sharif offer to help talks is smart. It improves Pakistan’s image, gains Trump’s respect, and could help reduce US-Iran tensions through diplomacy and pressure.

PM Sharif’s offer to facilitate talks a ‘very smart’, strategic move: ex-Pentagon official

ISLAMABAD: Kuwait has endorsed Pakistan&rsquo;s growing diplomatic role in efforts to ease tensions between Iran and the United States, as the ongoing conflict continues to destabilize the Middle East and threaten regional security.&nbsp;Prime Minister Shehbaz Sharif received a telephone call on Friday from Kuwait&rsquo;s Crown Prince Sheikh Sabah Al Khaled Al Hamad Al Sabah, according to a statement from his office.&nbsp;During the conversation, the crown prince &ldquo;fully endorsed Pakistan&rsquo;s efforts for mediation between Iran and the US,&rdquo; the statement said, acknowledging Islamabad&rsquo;s increasing role in facilitating indirect contacts between the two sides.&nbsp;Pakistan has recently emerged as a key intermediary, relaying messages between Washington and Tehran as part of ongoing backchannel diplomacy aimed at ending the war, which has triggered missile exchanges across Gulf states and disrupted global energy flows.&nbsp;Sharif reiterated Pakistan&rsquo;s condemnation of recent attacks on Kuwait and expressed solidarity with its people.&nbsp;&ldquo;The Prime Minister expressed Pakistan&rsquo;s strong condemnation of the attacks on Kuwait and conveyed condolences on the loss of precious lives,&rdquo; the statement said, adding that he also prayed for the recovery of those injured.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px; line-height: 2;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=2037484854955409462&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=fd25b5b85ace2f874ce6272131a6b0e4c68e6067&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>&nbsp;The Kuwaiti crown prince thanked Pakistan for its support and highlighted Sharif&rsquo;s outreach, including a recent message of solidarity to Kuwait&rsquo;s leadership.&nbsp;He also conveyed his &ldquo;desire to visit Pakistan as soon as the situation improves in the Middle East,&rdquo; the PMO said.&nbsp;Sharif reaffirmed Islamabad&rsquo;s commitment to continued diplomatic engagement.&nbsp;&ldquo;Pakistan would continue to play a constructive role for bringing peace and stability in the region,&rdquo; the statement concluded.&nbsp;The exchange reflects Pakistan&rsquo;s broader strategy of maintaining ties with all sides while advocating dialogue, as regional leaders intensify efforts to prevent further escalation in a conflict now impacting security, diplomacy and global economic stability.

Kuwait endorses Pakistan’s mediation efforts as Islamabad relays messages between Washington and Tehran, with both sides emphasizing diplomacy and coordination amid escalating regional tensions and growing concerns over the wider impact of the ongoing conflict.

Kuwait backs Pakistan mediation role as Iran war diplomacy intensifies

GENEVA: The deadly bombing of an Iranian school on the first day of the Middle East war was a &quot;calculated&quot; assault by the United States, Iran&#39;s foreign minister said Friday.&nbsp;In a video address to the United Nations Human Rights Council, Abbas Araghchi slammed the &quot;calculated, phased assault&quot; on an elementary school &quot;in the city of Minab, south of Iran, where more than 175 students and teachers were slaughtered in cold blood&quot;.&nbsp;The attack happened on February 28, the day the United States and Israel launched the war with attacks across Iran, with Tehran in turn striking targets in Israel and Gulf nations.&nbsp;A US Tomahawk cruise missile hit the school due to a targeting mistake, according to the preliminary findings of a US military investigation reported by The New York Times.&nbsp;Speaking during an urgent council debate focused on the February 28 strike, Araghchi stressed that &quot;at a time when the American-Israeli aggressors, in their own assertions, possess the most advanced technologies, and the highest-precision military and data systems, no one can believe that the attack on the school was anything other than deliberate and intentional&quot;.&nbsp;The strike, he said, &quot;was a war crime and a crime against humanity, one that demands unequivocal condemnation by all and unambiguous accountability for the culprits&quot;.&nbsp;&quot;This atrocity cannot be justified, cannot be concealed, and must not be met with silence and indifference,&quot; the minister said.&nbsp;The attack, he insisted, &quot;was not a mere &#39;incident&#39; nor a &#39;miscalculation&#39;.&quot;&nbsp;&quot;The United States&#39; contradictory remarks aimed at justifying their crime could not, in any manner, elude their responsibility,&quot; he said.

Middle East

Iran’s foreign minister told the UN that the US deliberately bombed a school in Minab on February 28, killing over 175 people, rejecting Washington’s claim of a targeting mistake and calling it a war crime.

School strike 'calculated' assault by US: Iran foreign minister

KYIV: Ukraine and Saudi Arabia have signed an air defence agreement during President Volodymyr Zelensky&#39;s visit to the kingdom facing Iranian drone attacks, two senior officials told AFP on Friday. Kyiv has sought to leverage its expertise in downing Russian drones to help Gulf nations, which are being attacked with the same kind of Iranian-designed Shahed drones that Russia fires on Ukraine. &quot;The point of the agreement is that Ukraine will support them in developing all the necessary components of air defence, which they currently lack,&quot; one official said of the document which, according to another was signed on Thursday. Both spoke to AFP on the condition of anonymity. Kyiv has been using a mix of cheap drone interceptors, electronic jamming tools and anti-aircraft guns to down Russian drones fired at its cities on a nightly basis for four years. It touts its anti-drone defences as the best in the world. Ukraine has proposed swapping its interceptors for vastly more expensive air-defence missiles that Gulf countries are using to down Iranian drones. Ukraine says it needs more of them to fend off Russian missile attacks. The deal signed between Ukraine and Saudi Arabia &quot;is not only about interceptors as such, but about building a system, integrating it with other air defence components, Ukrainian experience in its use, AI, and all the other elements of data analysis needed to counter Shaheds and other drones,&quot; one of the officials said. Zelensky confirmed on social media that both countries had &quot;reached an important arrangement&quot; on defence cooperation and that he had met Saudi Crown Prince Mohammed bin Salman during his visit. &quot;We are ready to share our expertise and systems with Saudi Arabia,&quot; Zelensky said, adding: &quot;Saudi Arabia also has capabilities that are of interest to Ukraine, and this cooperation can be mutually beneficial.&quot; He did not disclose what exactly has been agreed as part of the deal. Zelensky also met with Ukrainian anti-drone experts that have been deployed to the country since US and Israel launched strikes on Iran that spurred retaliatory drone and missile attacks from Tehran. &quot;Even in such a short time, Ukrainian experts were able to share extensive expertise,&quot; Zelensky said. &quot;Ukraine&#39;s expertise is unique, and recognised as such, and that is why everyone is so interested in our technologies and experience.&quot;

Europe

Ukraine and Saudi Arabia have signed a defence cooperation deal focused on air defence, with Kyiv offering anti-drone expertise developed against Russian attacks as Riyadh faces Iranian drone threats, in a partnership Zelensky said could benefit both countries.

Ukraine, Saudi signed air defence deal: senior officials to AFP

HONG KONG: Oil prices rose Friday and stocks were mixed as initial optimism over Donald Trump&#39;s decision to again push back a deadline for Iran to reopen the Strait of Hormuz petered. The tepid response came as governments around the world looked to shore up their economies against surging energy costs and the Organization for Economic Cooperation and Development (OECD) warned US inflation would top four percent. The US president warned last Saturday he would strike the Islamic republic&#39;s energy sites if it did not unblock the crucial waterway within 48 hours, but pushed that back five days citing positive peace talks, which Tehran denied had taken place. But after days of attacks by both sides and mixed reports of negotiations -- including the exchanging of multi-point demands -- he announced Thursday that he would again delay the attacks to April 6 after a request from Tehran. &quot;Talks are ongoing and, despite erroneous statements to the contrary by the Fake News Media, and others, they are going very well,&quot; Trump posted on his Truth Social platform. &quot;As per Iranian Government request... I am pausing the period of Energy Plant destruction by 10 Days to Monday, April 6, 2026, at 8 P.M., Eastern Time,&quot; he posted. Trump earlier denied he was desperate for a deal to end the war, despite Tehran&#39;s cool response to an American peace plan and fears the oil spike would fan inflation. Trump later told a cabinet meeting Iran had allowed 10 oil tankers passage through the Strait of Hormuz -- through which about a fifth of world oil and gas pass -- to show it was serious about talks. Iran&#39;s Tasnim news agency said the country&#39;s response to Washington&#39;s 15-point plan to end the war &quot;was officially sent last night through intermediaries&quot;. The report, citing an unnamed official, said officials had called for an end to US-Israeli attacks on Iran and Tehran-backed groups elsewhere in the region. It also called for war reparations and Iran&#39;s &quot;sovereignty&quot; over the Strait of Hormuz be respected. However, Trump&#39;s announcement came as the Wall Street Journal cited Department of Defense officials as saying the Pentagon was considering sending up to 10,000 extra ground troops to the Middle East. Oil prices initially fell more than one percent Friday but reversed course to turn higher as Europe opened for business, with Brent back near $110. Brent is up almost 50 percent since the war began on February 28, while West Texas Intermediate has risen about 40 percent. Time but &#39;not clarity&#39;Shares in Tokyo, Seoul, Sydney, Wellington, Taipei, Mumbai, Jakarta and Manila were sharply lower, but Hong Kong, Shanghai, Singapore and Bangkok rose with London, Frankfurt and Paris. Investors are increasingly sceptical about the messaging from the White House, with Trump often flipping between threats and talk of peace. &quot;A 10-day extension sounds like breathing room, but in market terms, it feels more like a trader rolling a losing position forward, hoping the next candle delivers what the last one refused to give,&quot; said SPI Asset Management&#39;s Stephen Innes, referring to an investors analysis tool. &quot;Time has been purchased, not clarity. And the market knows the difference.&quot; The World Trade Organisation warned the global trading system was experiencing the &quot;worst disruptions in the past 80 years&quot;, while the World Bank said it was prepared to provide immediate financial assistance to emerging market countries. That came as the OECD warned US inflation could hit 4.2 percent this year as a result of the spike in crude prices. That compares with its previous projection of 2.8 percent. And several Federal Reserve officials expressed concern about the outlook for the world&#39;s top economy and suggested interest rates were unlikely to come down any time soon. Meanwhile, Australian oil and gas giant Woodside said a third major LNG processing plant in the country had closed as a cyclone approached. With the crisis continuing to cause havoc, governments around the world have unveiled a range of support measures. Vietnam temporarily waived an environmental levy on fuel to cut petrol prices by more than a quarter, India said it had lowered fuel taxes and Japan plans to temporarily lift restrictions on coal-fired power plants in a bid to ease an energy crunch. Spain, Poland and South Korea earlier this week announced support plans that included fuel tax cuts. Key figures at around 0815 GMTTokyo - Nikkei 225: DOWN 0.4 percent at 53,373.07&nbsp;(close)Hong Kong - Hang Seng Index: UP 0.4 percent at 24,951.88 (close)Shanghai - Composite: UP 0.6 percent at 3,913.72 (close)London - FTSE 100: UP 0.2 percent at 9,992.82West Texas Intermediate: UP 0.5&nbsp;percent at $94.95 a barrelBrent North Sea Crude: UP 1.8 percent at $109.91 a barrelEuro/dollar: DOWN at $1.1520 from $1.1523 on ThursdayPound/dollar: DOWN at $1.3312 from $1.3313Dollar/yen: UP at 159.95 yen from 159.83 yenEuro/pound: DOWN at 86.51&nbsp;pence from 86.55 penceNew York - Dow: DOWN 1.0 percent at 45,960.11 (close)

Oil prices rise and global markets turn mixed as Donald Trump delays action on Iran over the Strait of Hormuz, while uncertainty over talks and supply risks fuels inflation concerns worldwide.

Oil rises, stocks mixed as joy over Trump Iran strike pause fades

BEIJING: China announced two separate investigations on Friday into US trade practices in response to Washington&#39;s probes this month of Beijing, including over alleged forced labour. The probes into alleged disruptions to the global supply chain and trade of &quot;green products&quot; were &quot;in response to the two US Section 301 investigations against China&quot;, a commerce ministry spokesperson said in a statement. The United States launched trade investigations this month into dozens of countries, including China, centred on overproduction and importing goods made with forced labour. The efforts came weeks after the US Supreme Court struck down President Donald Trump&#39;s global tariffs, saying he had exceeded his authority in tapping emergency economic powers to impose them on virtually all countries. China had called those &quot;Section 301&quot; investigations which target foreign trade &quot;political manipulation&quot;. Beijing&#39;s commerce ministry said on Friday it would &quot;take corresponding measures in accordance with the investigation situation (and) firmly safeguard its own legitimate rights and interests&quot;. Both investigations would &quot;conclude within six months&quot; but may be extended up to three months, it added. The White House has said Trump will visit Beijing from May 14-15, with the timing postponed by several weeks as a result of the war in the Middle East.

China

China launched two trade investigations against the U.S. in retaliation for Washington’s probes into Chinese goods and practices.

China announces two reciprocal trade investigations against US

Web Desk/AFP

ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Friday congratulated Nepal&rsquo;s new Prime Minister Balendra Shah on winning the national elections, according to a post on his official X account. &ldquo;I congratulate Balen Shah on assuming office as the Prime Minister of Nepal after a landslide victory of Rashtriya Swantatra Party,&rdquo; PM Sharif added, &ldquo;Pakistan deeply values its longstanding and friendly relations with Nepal and looks forward to working closely.&rdquo;<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2037435610689130669&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Flogin%2F&sessionId=ad3b4609defee31047de59400e5fe272e1548027&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 345px; display: block; flex-grow: 1;"></iframe></div></div>Rapper-turned-politician Shah was Kathmandu&rsquo;s mayor before he challenged and defeated the veteran Marxist leader KP Sharma Oli, the 74-year-old four-time ex-premier, in his own seat. Shah not only unseated Oli, but his Rastriya Swatantra Party (RSP) party secured a landslide parliamentary majority, securing 182 of 275 seats in the lower house of parliament. He gave his victory speech in a rap song ahead of being sworn into office on Friday, where he sang &quot;unity is my national power&quot;. Born in Kathmandu in 1990, he was a schoolboy during Nepal&#39;s 1996-2006 Maoist civil war, which killed thousands and eventually ended the monarchy. Shah trained as a civil engineer but first gained national attention through Nepal&#39;s underground hip-hop scene, releasing songs that railed against corruption and inequality. His music, which has drawn millions of views online, helped him cultivate a devoted following on social media -- a platform he continues to favour over traditional outlets for communicating with supporters. That popularity translated into a political shock in 2022, when Shah became the first independent candidate elected mayor of Kathmandu, stunning Nepal&#39;s entrenched political establishment.

Shehbaz Sharif congratulates Balendra Shah on becoming Nepal’s prime minister after a landslide election victory, pledging to strengthen bilateral ties between the two countries.