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China should more actively pursue the global lead in quantum governance to secure a strategic edge, an influential mainland think tank has urged, as dual-use quantum tech emerges as an increasingly important front in the country’s wide-ranging rivalry with the United States.China could also diversify its technological partnerships by deepening cooperation with EU countries and the United Arab Emirates, according to Grandview Institution, as the country prepares for its next five-year plan.Beijing could exchange expertise to advance quantum computing and actively engage in global rule-setting in the field amid tightening US tech curbs, the Beijing-based think tank said.“The competition in…

OpenAI has signed a seven-year, US$38 billion deal to buy cloud services from Amazon.com, in its first big push to power its AI ambitions after a restructuring last week that gave the ChatGPT maker greater operational and financial freedom.The agreement, announced on Monday, will give OpenAI access to hundreds of thousands of Nvidia graphics processors to train and run its artificial intelligence models.The deal underscores the AI industry’s insatiable appetite for computing power as companies race to build systems that can rival or surpass human intelligence.OpenAI CEO Sam Altman has said the start-up is committed to spending US$1.4 trillion to…

KARACHI: Pakistan Vanaspati Manufacturers Association (PVMA) Chairman Sheikh Umer Rehan has urged the government to immediately release pending sales tax refunds, warning that the edible oil and ghee industry is facing severe financial pressure due to excessive taxation and regulatory hurdles, including enforcement under Sales Tax Sections 8B and 40B. Speaking at the PVMA General Body Meeting, attended by senior office bearers and members of the association, and graced by the presence of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) President Atif Ikram Sheikh, Sheikh Umer Rehan said that the industry is struggling to sustain operations amid rising…

ISLAMABAD: The Board of Investment (BoI), in collaboration with the World Trade Organization (WTO) and the International Trade Centre (ITC), is organizing a two-day workshop on investment facilitation for development (IFD) and the need assessment. The workshop, which began here on Monday, is aimed at enhancing Pakistan’s understanding and implementation of the WTO’s Investment Facilitation for Development Agreement to attract and retain sustainable foreign investment. Ali Sarfraz Hussain, Ambassador and Permanent Representative of Pakistan to the WTO; Jamil Ahmad Qureshi, Secretary, Board of Investment; Claudia Locatelli, Counsellor, Trade in Services and Investment Division, WTO; and Quan Zhao, Senior Programme Manager,…

ISLAMABAD: The Federal Board of Revenue (FBR) has categorically clarified that no taxpayer who has filed an extension application within the prescribed time limit has been removed from the Active Taxpayers List. According to a clarification issued by the FBR on Monday, it has been observed that a misleading report is being circulated on certain media platforms regarding the declaration of a large number of taxpayers as ‘inactive’. FBR hereby clarifies that no taxpayer who has filed an extension application within the prescribed time limit has been removed from the Active Taxpayers List. The Active Taxpayers List for the year…

LAHORE: Overseas Pakistanis are the true ambassadors of Pakistan and are projecting the real image of our country to the world. Remittances sent by overseas Pakistanis play a vital role in stabilizing the national economy, and it is due to these foreign inflows that Pakistan has been able to reduce its trade deficit. These views were expressed by LCCI President Faheem-ur-Rehman Saigol during a meeting with the delegation of the Diaspora Association for Professional Pakistanis (DAPP). Senior Vice President Tanveer Ahmed Sheikh and Vice President Khurram Lodhi were also present on the occasion. The LCCI President said that the contributions…

ISLAMABAD: Senator Mohammad Ishaq Dar, Deputy Prime Minister/Foreign Minister of Pakistan, and Anita Anand, Minister of Foreign Affairs of Canada, held a productive bilateral call, reaffirming the strong and enduring ties between Pakistan and Canada and emphasizing the importance of deepening cooperation in areas of mutual interest. Pakistan and Canada agreed to facilitate the export of Canadian canola to Pakistan, recognizing the significant potential of Pakistan’s expanding market for this Canadian commodity. The Ministers welcomed the successful conclusion of the first round of negotiations toward a Foreign Investment Promotion and Protection Agreement (FIPA). Led by the Qaiser Ahmed Sheikh, Federal…

KATHMANDU, Nepal (AP) — Rescuers were digging through ice and snow on a mountain in Nepal on Tuesday to recover the bodies of seven climbers who were killed by an avalanche a day earlier, officials said.The avalanche pounded the base camp at Mount Yalung Ri, located at 4,900 meters (16,000 feet), on Monday morning. Snowstorms prevented rescuers from reaching the site on the day. Improving weather allowed a helicopter to reach the base camp Tuesday and rescuers were able to begin shifting through the snow and ice.Dolkha district Police Chief Gyan Kumar Mahato said four climbers who were injured in…

ISLAMABAD: President Asif Ali Zardari has directed the Chairman Federal Board of Revenue (FBR) to address grievances of tax advisers/lawyers against the officials of the Corporate Tax office (CTO) Islamabad. According to a letter (Redressal of Grievances) of the President’s Secretariat to FBR Chairman on Monday, necessary action be taken on a petition received from Lahore Tax Bar Association (LTBA) against the FBR officials, the letter added. Lahore Tax Bar Association (LTBA) has requested the President that Cabinet and Members of the Lahore Tax Bar Association strongly condemn for using threatening, and contemptuous tone “Irresponsible blame-shifting will not overshadow the…

As Beijing continues advocating for deeper regional economic cooperation in East Asia amid ongoing tensions with Washington – including by working towards a free-trade agreement (FTA) with Japan and South Korea – analysts say that making substantial progress remains challenging, given the existing trade framework and conflicting interests.In a meeting with South Korean Minister of Trade, Industry and Energy Kim Jung-kwan on Saturday on the sidelines of the Asia-Pacific Economic Cooperation (Apec) forum, Chinese Commerce Minister Wang Wentao pledged to promote the resumption of negotiations on a trilateral FTA involving the two countries and Japan, according to a statement from…