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Samsung Electronics on Tuesday projected a 32 per cent rise in third-quarter operating profit from a year earlier, beating analysts’ estimates by far, as demand for conventional memory chips helped offset weaker high-bandwidth memory chip sales.The world’s largest memory chipmaker estimated an operating profit of 12.1 trillion won (US$8.5 billion) for the July-September period, which would mark its highest quarterly profit in more than three years, well above the 10.1 trillion won predicted by LSEG SmartEstimate.Samsung’s third-quarter results underscored strong demand for server and artificial intelligence-related chips, which has boosted prices and shipments of conventional DRAM and NAND products.“The third-quarter…

Beijing and Washington conducted working-level talks on Monday despite a renewed escalation in trade tensions, China’s Ministry of Commerce has said, urging the US to “show sincerity for dialogue”.“The US cannot engage in dialogue while intimidating and threatening to impose new restrictions. This is not the right way to deal with China,” the ministry said in a statement on Tuesday.“China urges the US to immediately correct its wrong practices and show sincerity for dialogue.”The two sides have maintained communication under the framework of a bilateral economic and trade consultation mechanism, which was established during trade negotiations earlier this year, the…

NICOSIA, Cyprus (AP) — The island of cats has a cat problem.Officials in Cyprus, the small island nation in the eastern corner of the Mediterranean, estimate there is roughly one feral cat for every one of its 1 million inhabitants — though activists contend the actual population is hundreds of thousands higher.In late September, the island’s parliamentary committee on the environment was told that an existing sterilization program is too limited to contain the burgeoning cat population.“It’s a good program, but it needs to expand,” said Environment Commissioner Antonia Theodosiou, noting that the program conducts only about 2,000 sterilizations annually…

Japan has launched a study into how foreign governments regulate the sale of land and property to non-citizens, with analysts suggesting that lax existing laws make it too easy for “bad actors” to obtain footholds that are detrimental to the domestic economy and national security.The Yomiuri Shimbun newspaper reported on Monday that the Japanese government was studying how Canada, Germany, South Korea and Taiwan regulate property purchases or rentals by foreign nationals, with their laws potentially serving as models for revising Japan’s own rules on the acquisition of agricultural, commercial and industrial properties as well as housing.Although the Important Land…

LAHORE: The Pakistan Banks Association (PBA), in collaboration with the Special Investment Facilitation Council (SIFC), welcomed a high-level Saudi business delegation led by His Highness Prince Mansour bin Mohammad Al Saud, Chairman of the Saudi–Pakistan Joint Business Council (SPJBC). The visit, spanning October 7–11, 2025, aimed to strengthen bilateral trade and investment cooperation between Pakistan and the Kingdom of Saudi Arabia, in line with both countries’ shared vision for enhanced economic integration and long-term strategic partnership. The delegation comprised senior investors and business leaders representing key sectors such as investment holdings, financial services, agriculture and livestock, energy, infrastructure and construction,…

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has conveyed to the companies that the winding up proceedings against companies will continue unless formally stayed by the Court or SECP. The SECP has issued Frequently Asked Questions (FAQs) on Mergers, Amalgamations & Winding up. The SECP has responded to a query: does filing a revival application automatically stop winding up proceedings? The SECP responded, “No. Winding up proceedings continue unless formally stayed by the Court (Section 313) or SECP (for Commission-initiated winding up). It is critical to apply for a stay along with the revival plan to prevent parallel…

KUWAIT CITY: The Kuwait Oil Company said on Monday that it had made a “major” discovery of a new offshore natural gas field projected to have around one trillion cubic feet of gas. The subsidiary of the Kuwait Petroleum Corporation (KPC) said it made “a major exploration achievement in Kuwait’s offshore region with the discovery of the Jazah offshore natural gas field”. The field is estimated to cover an area of 40 square kilometres (15 square miles) “with projections indicating around one trillion cubic feet of gas”, it said in a statement. Initial results showed “production exceeding twenty-nine million cubic…

ISLAMABAD: Economic Policy and Business Development Chairman Dr Gohar Ejaz has called for a sharp reduction in Pakistan’s corporate tax rates, warning that excessive taxation is stifling growth, discouraging investment and undermining competitiveness. ‘Pakistan currently bears one of the highest corporate tax burdens in the region — comprising a 29 percent corporate tax rate, a 10 percent super tax, a 2 percent Workers Welfare Fund, and a 5 percent Workers Participation Fund”, said Ejaz in a statement on X (formerly Twitter) titled “Cut Taxes, Not Growth!.” He further pointed out that dividends are taxed at 15 percent, leading to double…

KARACHI: Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has proposed to the Federal Board of Revenue (FBR) to extend the deadline for filing income tax returns for the Tax Year 2025 – currently set to expire on October 15, 2025 – to October 31, 2025. He apprised that, in a letter addressed to Rashid Mahmood Langrial, Chairman of the FBR, FPCCI has highlighted the challenges faced by taxpayers and stakeholders in meeting the filing deadline. These include delays in obtaining essential financial documents, technical issues with the FBR portal, and difficulties in…

KARACHI: NBP at forefront of digital transformation towards cashless banking in Pakistan, enabled National Accountability Bureau on Smartpay. The initiative has enabled fast, secure, and paperless transaction processing solution to bring ease for round the clock payments. This milestone demonstrates NBP’s commitment to delivering efficient and transparent digital payment solutions, further strengthening NBP’s role in supporting institutional partners with reliable electronic services. To mark this milestone, a signing ceremony was held at NAB Headquarters, led by Chairman NAB Lt-Gen. Nazir Ahmed (retd). The event was also graced by Syed Farooq Hasan, Group Head (A) NBP, along with senior officials from…