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China has rejected US President Donald Trump’s claims that he received a phone call from Chinese leader Xi Jinping.“[Xi]’s called. And I don’t think that’s a sign of weakness on his behalf,” Trump told Time magazine in an interview last week.The Trump administration has repeatedly asserted over the past week that the US president had spoken by phone with Xi and trade talks took place, but Beijing continues to deny any such conversation occurred.Rebutting the claim again on Monday, Chinese foreign ministry spokesman Guo Jiakun said: “To my knowledge, there has been no phone call between the two heads of…

BARCELONA, Spain (AP) — A major power outage hit Spain and Portugal on Monday, including their capitals, knocking out subway networks, phone lines, traffic lights and ATM machines.The Portuguese Cabinet convened an emergency meeting at the prime minister’s residence, and Spanish Prime Minister Pedro Sánchez visited Red Eléctrica to follow efforts at restoring power to the grid.The countries have a combined population of over 50 million people. It was not immediately clear how many were affected.It is rare to have such a widespread outage across the Iberian Peninsula. Spanish generator Red Eléctrica said the incident is being assessed.Portugal’s government said…

The Japanese yen fell in Asian trade on Monday against a basket of major rivals, extending losses for the second straight session against the dollar and about to plumb two-week lows amid calm trading.    It comes as intense trade negotiations between Japan and the US progress in hopes of reaching a suitable deal for both sides.   The Bank of Japan is convening this week to discuss monetary policies appropriate for the latest economic developments, and is widely expected to maintain interest rates unchanged.   The Price   The USD/JPY pair rose 0.2% today to 143.88 yen per dollar,…

Shares of Chinese cancer drug developer Akeso slumped on Monday despite the company receiving a second marketing approval from the mainland’s drug regulator for an innovative medicine.The shares tumbled 10.2 per cent to HK$88.90 in the afternoon, after surging 20.8 per cent in the previous four sessions on the back of a string of favourable clinical trial results announcements. The shares traded as high as HK$105.50 on Friday, 6.5 times their initial public offering price of HK$16.18 five years ago.Guangzhou-based Akeso said in a statement to the Hong Kong stock exchange late on Sunday that the National Medical Products Administration…

Supernet Limited will provide internet and communication infrastructure at the Reko Diq Copper and Gold Mine in Balochistan, according to a notice to the Pakistan Stock Exchange (PSX) on Monday. Supernet Limited announced a strategic partnership with Reko Diq Mining Company in the notice. “Supernet Limited, is pleased to announce a strategic partnership with Reko Diq Mining Company to deliver state-of-the-art internet and communication infrastructure at the Reko Diq Copper and Gold Mine in Balochistan. “This collaboration marks a pivotal step in advancing digital connectivity at one of Pakistan’s most strategically significant mining projects,” the notice read. Under the partnership,…

Japanese Prime Minister Shigeru Ishiba’s visit to the Philippines this week reflects the two countries’ rapidly deepening alliance, analysts say – pointing to a landmark defence pact nearing full ratification as a symbol of Manila’s emergence as Tokyo’s “most reliable partner in Southeast Asia”.The Philippines’ Presidential Communications Office confirmed in a statement last week that Ishiba would undertake an official trip to the country on Tuesday and Wednesday, during which he will meet with President Ferdinand Marcos Jnr.The meeting between both heads of state “will aim to deepen and improve economic and development cooperation, political and defence engagements, and people-to-people…

Shifting production to the US would therefore require years if not decades of coordinated investment in automation, tools, infrastructure and training. Incentivising foreign component manufacturers to build facilities in the US would also be a challenge.“If you’re a Chinese supplier making a certain kind of component that can also be used in a Huawei or a Xiaomi phone, you’ve got leverage,” Mohan says. “The incentive to separate these factories is low, because you are getting scale and efficiency in China that you wouldn’t get if Apple was your sole supplier.”Policy uncertainty is another problem, according to Tsay. “The American system…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted marginal decline against the US dollar, depreciating by 0.03% during trading in the inter-bank market on Monday. At close, the local currency settled at 281.07, down by Re0.10 against the previous day close. On Friday, the rupee had closed at 280.97 against the greenback. During the previous week, the Pakistani rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.25 or 0.09%. Internationally, the dollar made a steady start on Monday as investors prepared for a week packed with economic data that…

The Pakistani rupee posted marginal gain against the US dollar, appreciating by 0.02% during intra-day trading in the inter-bank market on Monday. At 9:58am, the local currency was hovering at 280.92, up by Re0.05 against the previous day close. On Friday, the rupee had closed at 280.97 against the greenback. During the previous week, the Pakistani rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.25 or 0.09%. Internationally, the dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether…

A new study has corroborated an account of the Han conquest of the Nanyue kingdom in southern China (203-111BC) by ancient historian Sima Qian.The researchers also linked the watershed military campaign to the decline of the Chinese swamp cypress, a tree species which is now critically endangered.Geological evidence, pollen analysis and historical records were analysed to determine how the Han dynasty’s riverine warfare tactics reshaped history and the Pearl River Delta’s ecosystem more than 2,100 years ago.The findings of the study – led by Sun Weidong from the Chinese Academy of Sciences’ Institute of Oceanology in Qingdao – were published…