NEW YORK: Warner Bros. Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming giant Netflix to acquire the Hollywood giant and owner of CNN.&nbsp;In a statement, Warner Bros. said the terms of the Netflix merger were better, while the Paramount offer &quot;once again fails to address key concerns that we have consistently communicated...throughout our extensive engagement and review of their six previous proposals.&quot;&nbsp;&quot;We are confident that our merger with Netflix represents superior, more certain value for our shareholders,&quot; it said.&nbsp;Netflix shocked the industry on December 5 by announcing it had sealed an agreement to buy the film and television studio for nearly $83 billion, the entertainment industry&#39;s biggest consolidation deal this decade.&nbsp;Three days later, Paramount -- whose CEO is David Ellison, the son of Larry Ellison, an ally of Donald Trump -- launched an all-cash tender offer valuing the entertainment giant at $108.4 billion.&nbsp;US President Donald Trump said last week that he wanted to ensure CNN gets new ownership as part of the Warner Bros. Discovery sale, targeting the news outlet he has long feuded with.<figure class="fr-media"><figcaption class="caption-cover-image text-sm text-gray-600 italic"> </figcaption></figure>

Film & TV

Warner Bros. Discovery rejected Paramount’s hostile bid, backing Netflix’s $83 billion merger as offering greater certainty and value. Paramount countered with a $108 billion cash offer, amid political scrutiny over CNN’s future ownership and influence.

Warner Bros. Discovery rejects Paramount bid

Web Desk

ISLAMABAD: Pakistan on Wednesday launched its fourth Hangor-class submarine, &ldquo;Ghazi,&rdquo; at the Shuangliu Base in China&rsquo;s Wuhan, the official statement said, marking another milestone in the Pakistan Navy&rsquo;s submarine modernization program.&nbsp;In a statement, the Inter-Services Public Relations (ISPR) said the launch reflects steady progress on the bilateral submarine project between Pakistan and China.&nbsp;&ldquo;The Pakistan Navy has achieved a major milestone as all four submarines being constructed in China are now undergoing rigorous sea trials and are in the final stages of handover to Pakistan,&rdquo; the ISPR said.&nbsp;The military&rsquo;s media wing said the submarine program is being executed under an agreement signed between the governments of Pakistan and China for the acquisition of eight Hangor-class submarines.&nbsp;&ldquo;Under this contract, four submarines are being built in China, while the remaining four will be constructed in Pakistan by Karachi Shipyard and Engineering Works Limited under Transfer of Technology,&rdquo; the statement added.&nbsp;According to the ISPR, the Hangor-class submarines will be equipped with advanced weapons and sensors, enabling them to engage targets from standoff ranges.&nbsp;It said submarines would play a &ldquo;key role in maintaining peace and stability in the region.&rdquo;&nbsp;Senior officials from Pakistan and China attended the launching ceremony, underscoring the &ldquo;deepening bilateral cooperation&rdquo; between the two countries in the defense sector.&nbsp;The Hangor-class project is a central component of the Pakistan Navy&rsquo;s efforts to enhance its undersea warfare capabilities and strengthen maritime security.

Security

Pakistan Navy’s fourth Hangor-class submarine, Ghazi, launched in China, all four China-built vessels undergo sea trials, while remaining submarines will be locally built under technology transfer agreement.

Pakistan launches fourth Hangor-class submarine ‘Ghazi’ at China shipyard naval

PARIS: The winners of the 2026 World Cup will receive $50 million in prize money as part of a record financial contribution for the tournament from FIFA, world football&#39;s governing body announced on Wednesday.&nbsp;The total World Cup prize fund of $655 million (558.5 million euros) represents an increase of almost 50 percent from the $440 million distributed to teams taking part in the last tournament in Qatar in 2022.&nbsp;However, next year&#39;s World Cup -- to be held in the United States, Mexico and Canada from June 11 to July 19 -- will be the first to feature 48 teams, a 50 percent increase from the 32 teams last time.&nbsp;The Argentine Football Association received $42 million in prize money after Lionel Messi inspired them to glory three years ago, when they won on penalties in the final against France.&nbsp;France received $30 million for their run to the final. This time, the beaten finalists will pocket $33 million, with the third-place finishers collecting $29 million and the other defeated semi-finalists getting $27 million.&nbsp;Teams eliminated in the group phase will receive $9 million, while all 48 participating nations will get an additional $1.5 million to cover &quot;preparation costs.&quot;

Football

FIFA announced a record $655 million prize fund for the expanded 2026 World Cup, with winners earning $50 million, higher payouts across all stages, and all 48 teams receiving added preparation funding from governing body.

Winners of 2026 World Cup to pocket $50 million in prize money

ISLAMABAD: Pakistan&rsquo;s Information Minister Attaullah Tarar on Wednesday demanded public apologies and corrections from international media outlets that published unverified claims linking Pakistan to the Bondi Beach shooting incident in Australia, calling the reporting a &#39;vicious disinformation campaign.&#39; Addressing a press conference in Islamabad, Tarar presented video clips and timelines to show how several outlets circulated claims that one of the attackers was Pakistani without verification. &nbsp;&ldquo;A false and deliberate misinformation campaign was launched from hostile countries to malign Pakistan,&rdquo;&nbsp;Tarar said. In the aftermath of the attack, several Indian and Israeli media outlets identified an individual named Naveed Akram as a &ldquo;Pakistani attacker.&rdquo; The assertion was later disproved after a Pakistani-Australian man sharing the same name publicly rejected any involvement in the incident. &ldquo;This is not me, and I have no connection whatsoever to that incident or to the person involved,&rdquo; Akram said, explaining that his personal photographs were taken from social media and wrongly attributed to the suspect. He said the false identification had serious personal consequences. &ldquo;I am stressed and scared and cannot even step outside safely,&rdquo; he said, describing the compounded trauma of witnessing the tragedy and then being misidentified online. Tarar said official clarifications later confirmed there was no Pakistani link to the incident.&nbsp; He cited a police statement from India identifying one of the attackers as a resident of Telangana, Hyderabad, holding an Indian passport issued by the Indian embassy in Sydney.&nbsp; The information minister added that Philippine authorities also verified the individual had traveled to the Philippines on an Indian passport. &ldquo;There was not a shred of evidence linking Pakistan to the incident,&rdquo; Tarar said, praising Australian authorities for waiting for verified facts before drawing conclusions. &ldquo;Now my question is, who&rsquo;s going to cover the damage that was caused to Pakistan through these fake posts and false information?&rdquo; The minister said the misinformation campaign coincided with Pakistan&rsquo;s commemoration of the December 16 APS Peshawar martyrs, calling the timing &ldquo;particularly painful.&rdquo; He reiterated Pakistan&rsquo;s long-standing position against terrorism. &ldquo;Pakistan has lost more than 90,000 lives to terrorism and has consistently condemned it in all forms and manifestations,&rdquo; Tarar said. He said Pakistan was not initiating legal action at this stage but expected corrections and apologies in line with journalistic norms. &ldquo;I think an apology would be nice,&rdquo; he said. &ldquo;It is part of journalistic norms to tender an apology on incorrect news posted and disseminated.&rdquo; Tarar confirmed that Pakistan&rsquo;s foreign missions have been provided verified information and video material to support expatriate communities affected by the false claims. &ldquo;All our embassies have been shared this video and the correct information, and they are available to our citizens for any assistance,&rdquo; he said. Pakistan&rsquo;s government condemned the Bondi Beach attack immediately after the incident and expressed solidarity with the Australian government and people. Tarar said both Prime Minister Shehbaz Sharif and President Asif Ali Zardari issued strong condemnations from the outset.&nbsp;

Foreign Affairs

Information Minister Attaullah Tarar says international media spread false, unverified claims linking Pakistan to the Bondi attack and must issue public apologies and corrections.

Pakistan demands apologies over false Bondi attack reports, disinformation campaign

STRASBOURG:&nbsp;EU chief Ursula von der Leyen said Wednesday the bloc must take a decision on financing Ukraine at a crunch summit this week, with leaders under pressure to agree a plan to use frozen Russian assets. &ldquo;There is no more important act of European defense than supporting Ukraine&#39;s defense. The next days will be a crucial step for securing this, it is up to us to choose how we fund Ukraine&#39;s fight,&rdquo; von der Leyen told EU lawmakers. &ldquo;We know the urgency. It is acute. We all feel it. We all see it.&rdquo; 90B Euro loanVon der Leyen is pushing a plan to use frozen Russian central bank assets to provide Kyiv a 90-billion-euro loan over the next two years -- but that move faces fierce opposition from Belgium, which hosts most of the funds. Belgium fears the scheme could open it up to Russian reprisals and is insisting on rock-solid guarantees from other EU countries that they will share any legal and financial liabilities. Attempts to reassure the Belgian government have so far failed to break the deadlock, setting up a potentially marathon round of wrangling at the summit starting Thursday. In theory other EU leaders could override Belgium and ram the initiative through with a weighted majority -- but that would be a nuclear option that few see as likely for now. Fallback plan&nbsp;Von der Leyen&#39;s executive has floated a potential fallback plan of the EU raising the money itself to lend Ukraine. Diplomats have said that scheme appears to be a non-starter as it requires unanimous approval from the EU&#39;s 27 leaders and Hungary has ruled it out. &ldquo;We will have to decide which way we want to take, which route we want to take -- but one thing is very, very clear, we have to take the decision to fund Ukraine,&rdquo; von der Leyen said. &ldquo;This is also about strengthening Ukraine&#39;s ability to secure a real peace, one that is just, one that is lasting, and one that protects Ukraine and Europe.&rdquo;

Europe

Ursula von der Leyen tells EU lawmakers, ‘There is no more important act of European defense than supporting Ukraine's defense. The next days will be a crucial step for securing this, it is up to us to choose how we fund Ukraine's fight.’ 

Coming days crucial for keeping Ukraine funded: EU chief

ISLAMABAD: Australian wicketkeeper-batsman Alex Carey has emerged as the leading run-scorer for Australia in Test cricket this year, amassing 671 runs, according to ESPNcricinfo.&nbsp;Carey achieved this milestone on the first day of the <a href="https://www.pakistantv.com/article/mccullum-admits-england-have-been-nowhere-near-their-best" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Ashes Test</a> on Wednesday. At a time when the Aussie top order struggled to score runs, Carey went on to smash a century (106), helping the home side reach 326-8 by the end of Day 1.&nbsp; Usman Khawaja added a solid 82, while Josh Inglis contributed 32. All-rounder Mitchell Starc remained unbeaten on 33.&nbsp;Despite England bowling too short too often, they managed to claim eight wickets on a placid, sun-baked pitch. Interestingly, part-time spinner Will Jacks bowled the most overs for England with 20, raising some eyebrows.&nbsp;The statistics highlight Australia&rsquo;s strong batting depth in the ongoing Test season, with contributions coming from both established stars and emerging players. <div class="fr-embed" style="line-height: 2;">Most Test runs for Australia in 2025 <table style="margin-right: calc(49%); width: 51%;"><thead><tr><th>Rank</th><th>Player</th><th>Runs</th></tr></thead><tbody><tr><td>1</td><td>Alex Carey</td><td>671</td></tr><tr><td>2</td><td>Steve Smith</td><td>618</td></tr><tr><td>3</td><td>Travis Head</td><td>589</td></tr><tr><td>4</td><td>Usman Khawaja</td><td>545</td></tr><tr><td>5</td><td>Beau Webster</td><td>381</td></tr><tr><td>6</td><td>Cameron Green</td><td>257</td></tr><tr><td>7</td><td>Mitchell Starc</td><td>255</td></tr><tr><td>8</td><td>Marnus Labuschagne</td><td>244</td></tr><tr><td>9</td><td>Josh Inglis</td><td>174</td></tr><tr><td>10</td><td>Jake Weatherald</td><td>130</td></tr></tbody></table></div>Source: ESPNcricinfo

Cricket

Carey, with 671 Test runs this year, is ahead of Steve Smith, 619, and Travis Head, 589 runs.

Alex Carey becomes Australia’s highest Test run-getter in 2025

LONDON: Britain is to rejoin the European Union&rsquo;s popular Erasmus student exchange programme almost five years after leaving the scheme following Brexit, a joint UK-EU statement said on Wednesday. &ldquo;The UK has successfully agreed terms to join the Erasmus+ programme in 2027, widening opportunities for young people from all backgrounds, learners, educational, youth and sport staff to study and train abroad,&rdquo; a UK government statement added. The scheme, which will have to be approved by all EU member countries, will be open to university students but will also be broadened to include others in further education and on apprenticeships. The UK government said more than 100,000 people in the country could benefit from the scheme in the first year alone. Following negotiations, the UK&rsquo;s contribution to the costs of the scheme in 2027 would be around &pound;570 million, the statement said. The announcement comes as part of Labour Prime Minister Keir Starmer&rsquo;s much-touted &ldquo;reset&rdquo; with the 27-country bloc. Britain exited the Erasmus scheme, in which it had participated since 1987, when it left the EU at the beginning of 2021. EU relations minister Nick Thomas-Symonds hailed the deal as a &ldquo;huge win for our young people&rdquo; that would offer opportunities to those from all backgrounds to &ldquo;study and train abroad&rdquo;. &ldquo;This is about more than just travel: it&rsquo;s about future skills, academic success, and giving the next generation access to the best possible opportunities,&rdquo; he added. EU trade chief Maros Sefcovic said the deal was a &ldquo;big step forward&rdquo; for UK ties. Breakthrough&nbsp;After the UK left Erasmus, former prime minister Boris Johnson launched the Turing scheme as a domestic alternative, arguing that remaining in the EU scheme would have meant a net cost of &pound;2 billion ($2.6 billion) over seven years. The move caused consternation among students and higher education bodies. Work towards rejoining was announced as part of Starmer&rsquo;s post-Brexit reset deal agreed with Brussels at a London summit in May. The breakthrough has been welcomed by UK universities and Britain&rsquo;s third-largest political party, the pro-EU Liberal Democrats, which called it &ldquo;a crucial first step&rdquo; towards a closer relationship with the EU. It urged the government to commit to a wider &ldquo;youth mobility scheme for the benefit of the next generation&rdquo;. The EU is keen on creating a youth mobility scheme that would allow British and European 18- to 30-year-olds to study and work in the UK and vice versa. Since 1987, nine million people have participated in the Erasmus scheme, which also contributed to creating a generation of pro-European Britons. Tim Bradshaw, chief executive of the Russell Group of leading UK universities, said they were &ldquo;delighted&rdquo; at the announcement. &ldquo;With an even greater scope than previous programmes, Erasmus+ opens up fantastic opportunities for students, adult learners and young people to all benefit from new experiences and learning,&rdquo; he said. &ldquo;It will also renew the huge contributions that EU students and staff make to life on our university campuses,&rdquo; he added.

A photograph taken on January 31, 2024 shows a European Union flag flapping in the air in front of the Elizabeth Tower, commonly known by the name of the clock's bell "Big Ben", at the Palace of Westminster, home to the Houses of Parliament, central Londo

United Kingdom

China

Australasia

Asia

Middle East

Americas

Central Asia

Britain is to rejoin the European Union’s Erasmus student exchange program, which it left almost five years ago following Brexit, a joint UK-EU statement said Wednesday.

UK strikes deal with EU to rejoin Erasmus student exchange programme

ISLAMABAD: Pakistan&rsquo;s President Asif Ali Zardari signed the National Commission for Minorities Rights Bill, 2025, into law to protect, empower, and advance the rights of the country&rsquo;s religious minority communities. President Zardari on Wednesday accorded his assent to various important legislative bills on the advice of Prime Minister Shehbaz Sharif, following their passage by both houses of Parliament, state-run Associated Press of Pakistan (APP) reported on Wednesday. Protecting minorities&nbsp;The president assented to the National Commission for Minorities Rights Bill, 2025, which aims to protect, empower, and develop religious minority communities across the country through various measures. The joint sitting of Pakistan&#39;s parliament had passed the National Commission for Minorities Rights Bill, 2025, on Dec. 2, according to Radio Pakistan. The bill was moved by Law Minister Azam Nazeer Tarar, who stated that its purpose is to safeguard the rights of non-Muslims. He said the constitution of Pakistan also provides for the rights of non-Muslims. The minister mentioned that the Supreme Court in 2014 had directed the formation of a commission to protect the rights of non-Muslims. Based on the new law, a dedicated statutory body will be established to protect, promote, and empower non-Muslim religious minority communities, fulfilling the Supreme Court&#39;s directive to ensure the protection of their constitutional rights, freedom of religion, and equal citizenship through policy-making, grievance redressal, and monitoring of the implementation of minority safeguards.&nbsp; President Zardari also signed into law the Qanun-e-Shahadat (Law of Evidence) (Amendment) Bill, 2025, as well as the King Hamad University of Nursing and Associated Medical Sciences Bill, 2025, the APP reported. However, he returned the Daanish Schools Authority Bill, 2025, to the prime minister for reconsideration, given the need for provincial consultation. In his observation, President Zardari stated that prior consultation with the relevant provincial governments was inevitable for the establishment of Daanish Schools in the provinces.

Politics

President Zardari signs the National Commission for Minorities Rights Bill 2025; also signs into law the Qanun-e-Shahadat (Law of Evidence) (Amendment) Bill, 2025, as well as the King Hamad University of Nursing and Associated Medical Sciences Bill, 2025.

Pakistan’s president assents to bill, statutory body to protect minorities' rights

ISLAMABAD: Pakistan recorded a <a href="https://www.pakistantv.com/article/pakistan-records-fy26s-first-current-account-surplus-marks-economic-turnaround" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">current account surplus</a> of $100 million in November 2025, reversing a deficit of $291 million in October, the State Bank of Pakistan (SBP) reported on Wednesday.&nbsp;The surplus contrasts with $709 million recorded in the same month last year.&nbsp;In November, Pakistan&rsquo;s total exports of goods and services stood at $3.09 billion, down over 10 percent from $3.44 billion in October. Meanwhile, total imports fell to $5.68 billion, a nearly 12 percent decline from the previous month.&nbsp;Workers&rsquo; remittances remained strong at <a href="https://www.pakistantv.com/article/pakistan-remittances-rise-9-to-319b-yoy-in-nov-reach-161b-in-5mfy26" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">$3.19 billion</a>, although slightly lower than $3.42 billion in October.&nbsp;For the first five months of the current fiscal year (FY26), Pakistan recorded a cumulative current account deficit of $812 million, compared with a surplus of $503 million in the same period last year.&nbsp;Pakistan&rsquo;s foreign exchange reserves rose to $14.68 billion, up 21 percent year-on-year, indicating improved external buffers despite ongoing structural pressures.

Economy

The surplus follows a defecit of $291 million in October 2025.

Pakistan posts $100 million current account surplus in November

LONDON: The UK government on Wednesday said it was focused on resuming talks promptly after the United States suspended implementation of a tech cooperation deal with Britain. The deal was signed during US President Donald Trump&#39;s pomp-filled state visit to the UK in September. But on Tuesday Michael Kratsios, head of the White House Office of Science and Technology Policy, said on X that the UK must make &quot;substantial progress&quot; on trade talks for the deal to resume. The US and UK have been trying to implement the &quot;Economic Prosperity Deal,&quot; agreed in May and one of the first international agreements signed after Trump threatened the world with punishing tariffs on goods entering the United States. The US-UK Technology Prosperity Deal agreed in September 2025 was a non-binding agreement to sit alongside the broader Economic Prosperity Deal. It was designed to align the two countries on tech innovation while spurring mostly private-sector investment. Following the White House announcement, a UK government spokesperson said: &quot;We look forward to resuming work on this partnership as quickly as possible... and working together to help shape the emerging technologies of the future.&quot; Business and Trade Secretary Peter Kyle held trade talks with US counterparts in Washington DC last week to progress the Economic Prosperity Deal, the spokesperson said. &quot;They celebrated the success of the recent pharma deal and both sides agreed to continue further negotiations next year.&quot; According to the Financial Times, US officials have become increasingly frustrated with Britain&#39;s lack of willingness to address non-tariff barriers, including rules and regulations governing food and industrial goods.

Britain's Prime Minister Keir Starmer (R) and US President Donald Trump (L) show off their signed technology prosperity deal at a Business event at Chequers, in Aylesbury, central England, on September 18, 2025 (AFP/File)

UK seeks to revive tech cooperation after the United States suspended a non-binding deal, tying its return to trade progress, as talks continue amid US frustration over UK non-tariff barriers.

UK seeks to revive tech cooperation after the United States suspended a non-binding deal, tying its return to trade progress, as talks continue amid US frustration over UK non-tariff barriers.


Warner Bros. Discovery rejects Paramount bid

Latest News

Pakistan launches fourth Hangor-class submarine ‘Ghazi’ at China shipyard naval

Winners of 2026 World Cup to pocket $50 million in prize money

Warner Bros. Discovery rejects Paramount bid

Pakistan demands apologies over false Bondi attack reports, disinformation campaign

Coming days crucial for keeping Ukraine funded: EU chief