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The Pakistan Stock Exchange (PSX) on Wednesday witnessed yet another bloodbath this year — tumbling by over 3,500 points — as investors’ fears of a military action by India against Pakistan came true last night. The Pakistani military brought down five Indian jets in retaliation for late-night strikes launched by its neighbouring country at six sites in Punjab and Azad Jammu and Kashmir. The benchmark KSE-100 index decreased by 6,560.82 points (5.78pc) to stand at 107,007.68 from the last close of 113,568.50 when the market opened at 9:30am. Due to the massive dip, the market was immediately suspended briefly. This…

We have put together stories from our coverage on science from the past two weeks to help you stay informed. If you would like to see more of our reporting, please consider subscribing.1. China defies ASML prediction with EUV breakthrough in advanced chip productionChinese researchers have cracked a barrier to the home-grown production of advanced chips by building an extreme ultraviolet (EUV) light source platform that operates at internationally competitive parameters, according to a research paper.2. Chinese civilian handheld device can compromise US stealth radar: studyResearchers at one of China’s top defence electronics institutes say they can track advanced US…

Advanced Micro Devices, Nvidia’s closest rival in artificial intelligence (AI) processors, said that US restrictions on sales to China will cost US$1.5 billion in revenue this year, a warning that clouded an otherwise upbeat outlook.The guidance stems from an export restriction imposed in April that targeted AMD’s MI308 chips, the company said during an earnings call on Tuesday. Data centre revenue will decline in the current period, hurt by a US$700 million reduction in sales of that product, AMD predicted.CEO Lisa Su remains bullish about overall demand for AI infrastructure. She also reiterated her projection that new chips debuting soon…

Japanese police have found a surprising new way to curb the country’s rampant prostitution – by painting a street yellow.The unusual tactic in Osaka has led to a dramatic 90 per cent decrease in sex workers soliciting customers in a previously notorious alley, authorities said.Last December, the 100-metre (330-foot) street in the city’s Taiyujicho neighbourhood located near the JR Osaka Station, was painted bright yellow and decorated with colourful artwork of marine creatures.The tactic was based on nudge theory, a concept that suggests subtle changes in surroundings can influence behaviour.Data from four daily police surveys of the alley revealed an…

Malaysia’s ruling party is pushing for Prime Minister Anwar Ibrahim’s daughter – Nurul Izzah – to contest to be his number two, in a race which appears to have caused a rift within the government.Parti Keadilan Rakyat (PKR), a key party in the Pakatan Harapan (PH) coalition that anchors Anwar’s “Madani” government, will hold its central leadership elections on May 21, with all positions except the presidency available.Party branches in Kuala Lumpur, Selangor, Penang, Perak and Pahang have backed the prime minister’s eldest daughter candidacy for the deputy presidency, a post currently held by Economics Minister Rafizi Ramli.Nurul Izzah, in…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.BMW has reported a 25 per cent fall in earnings as it adjusts to new global tariffs and stiff competition in the Chinese market. However, the carmaker maintained its full-year forecast that profits would broadly match last year’s, saying it anticipated some global tariffs would be rolled back from July. The company said on Wednesday that its earnings before tax in the first quarter reached €3.1bn — 25 per cent down on the same period last year.It added that the EU’s anti-subsidy tariff…

Semeen Akhter is stepping down as the Chief Executive Officer (CEO) of Engro Powergen Qadirpur Limited (EPQL), effective June 5, 2025. The company shared this development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. “This is to inform you that Semeen Akhter has resigned from her position as CEO of Engro Powergen Qadirpur Limited with effect from June 5, 2025,” read the notice. Meanwhile, the company added that its Board of Directors will appoint a new CEO in due course. “The company wishes to extend its deepest gratitude and appreciation to Semeen Akhter for her contributions to…

China’s top securities regulator pledged to further open up the nation’s financial markets and boost foreign institutional access, with a focus on promoting Hong Kong as a global finance hub, as a trade war and decoupling risks stoke fears of contagion effects.Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said in a briefing on Wednesday that the watchdog would protect the interests of Chinese companies listed abroad and help high-quality firms that are listed overseas to offer shares on mainland and Hong Kong exchanges.The regulator would also streamline processes for Chinese firms to list abroad and strengthen Hong…

China’s top securities regulator pledged to further open up the nation’s financial markets and boost foreign institutional access, with a focus on promoting Hong Kong as a global finance hub, as a trade war and decoupling risks stoke fears of contagion effects.Wu Qing, chairman of the China Securities Regulatory Commission (CSRC), said in a briefing on Wednesday that the watchdog would protect the interests of Chinese companies listed abroad and help high-quality firms that are listed overseas to offer shares on mainland and Hong Kong exchanges.The regulator would also streamline processes for Chinese firms to list abroad and strengthen Hong…

Nvidia CEO Jensen Huang said losing China’s artificial intelligence (AI) market would be a huge loss, with the market poised for significant growth in the coming years, as the chip designer faces tightening export restrictions from Washington.China’s AI market is likely to grow to US$50 billion in the next two to three years, Huang said in an interview with US broadcaster CNBC on Tuesday. “It would be a tremendous loss not to be able to address it as an American company,” he said.Selling to China would also help bring revenue back to the US, contributing to taxes and helping to…