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ISLAMABAD: Pakistan and Jordan have agreed to negotiate a preferential trade agreement (PTA) and enhance cooperation across 16 key sectors, formalized through a newly signed protocol aimed at converting longstanding ties into practical economic and institutional outcomes, according to an official statement.&nbsp;The announcement comes months after Jordan&rsquo;s King Abdullah II visited Pakistan last year, during which he and Prime Minister Shehbaz Sharif pledged to broaden strategic, economic and political cooperation. The two leaders discussed expanding collaboration in trade, investment, health, education, science and technology and defense. A Memorandum of Understanding in media, culture and education was also exchanged, marking an expansion of institutional cooperation between the two countries.&nbsp;&ldquo;Welcoming the signing of the protocol, the [Pakistan Commerce] Minister [Jam Kamal Khan] said the JMC reflected the shared resolve of both countries to pursue result-oriented cooperation, particularly in trade, investment and private-sector engagement,&rdquo; the Ministry of Commerce said in a statement.&nbsp;The two countries reaffirmed their commitment to hold the Pakistan&ndash;Jordan Joint Ministerial Commission (JMC) regularly, describing it as a key mechanism to strengthen bilateral economic ties.&nbsp;The JMC outlined plans to enhance cooperation in banking and finance, including central bank collaboration, and expand engagement in industry, agriculture, halal standards, education, skills development, healthcare, climate change, energy, mining, maritime affairs, media, culture, and tourism through institutional linkages and joint working groups.&nbsp;&ldquo;The Commission also welcomed the signing of a Memorandum of Understanding on Information Technology and Telecommunications, aimed at promoting cooperation in digital innovation, technology services and collaboration between the ICT sectors of both countries,&rdquo; the statement added.&nbsp;A Joint Working Group on Trade and Investment will oversee implementation, alongside efforts to activate the Pakistan&ndash;Jordan Business Council and promote business-to-business linkages.&nbsp;During the 10th JMC session, co-chaired by Pakistan&rsquo;s Khan and Jordan&rsquo;s Minister of Industry, Trade and Supply Yarub Qudah, both sides agreed to begin consultations on a PTA aimed at improving market access and reducing trade barriers.&nbsp;Muhammad Humair Karim Kidwai, Pakistan&rsquo;s Ministry of Economic Affairs Secretary, emphasized the need for &ldquo;structured follow-up mechanisms to ensure effective implementation of the agreed decisions.&rdquo;

Foreign Affairs

Islamabad and Amman agree to negotiate a preferential trade pact and expand cooperation in 16 sectors, following King Abdullah II’s November visit to strengthen strategic and economic ties.

Pakistan, Jordan agree on trade pact, expand cooperation across sectors

WASHINGTON: US President Donald Trump on Thursday called for a brand-new nuclear treaty after the last agreement with Russia expired, prompting fears of a new global arms race. The Trump administration has repeatedly pressed for a new treaty to include China, whose arsenal is growing but still significantly smaller than those of Russia and the United States, but Beijing has publicly rejected the pressure. Trump had been mostly mum on Russian calls to extend New START, the 2010 treaty that imposed the last restrictions on the two largest nuclear powers after decades of agreements dating from the Cold War. But hours after it expired, Trump said that the treaty, signed by predecessor Barack Obama and extended by Joe Biden, was &quot;badly negotiated&quot; and &quot;is being grossly violated.&quot; &quot;We should have our Nuclear Experts work on a new, improved, and modernized Treaty that can last long into the future,&quot; he wrote on his Truth Social platform. Asked if Washington and Moscow had agreed to stick to the terms of the expired START treaty while negotiations on a new accord are ongoing, White House spokesperson Karoline Leavitt said: &quot;Not to my knowledge.&quot; Russia had refused inspections under New START as relations deteriorated with the Biden administration. It said Wednesday that it no longer considered itself bound on the number of nuclear warheads due to the expiration of New START. Despite the stalemate on New START, Trump has enthusiastically restarted diplomacy with Russia and invited President Vladimir Putin to Alaska last August. The United States announced Thursday that it was resuming military dialogue with Russia after three-way talks in Abu Dhabi on the Ukraine war. &#39;Unconstrained nuclear competition&#39; Campaigners have warned that the end of the New START treaty could trigger a global arms race, and urged nuclear powers to enter negotiations. A group of former senior arms control officials from around the world, in a joint statement Thursday, called on the United States and Russia to agree to keep observing New START&#39;s limits as a first step. The end of New START &quot;will reduce nuclear stability and predictability, threaten global security, and increase the risk of a new era of unconstrained nuclear competition,&quot; they wrote. UN Secretary-General Antonio Guterres said the nuclear treaties between the United States and Russia after more than half a century were at a &quot;grave moment.&quot; &quot;This dissolution of decades of achievement could not come at a worse time &mdash; the risk of a nuclear weapon being used is the highest in decades,&quot; Guterres said, after Russian suggestions of using tactical nuclear weapons early in the Ukraine war. A NATO official, speaking on condition of anonymity, called for &quot;restraint and responsibility&quot; and said that the US-led military alliance &quot;will continue to take steps necessary&quot; to ensure its defense. The official condemned &quot;Russia&#39;s irresponsible nuclear rhetoric.&quot; China rejects pressureOn Wednesday, US Secretary of State Marco Rubio said that arms control was &quot;impossible&quot; without including China. China&#39;s foreign ministry expressed regret Thursday over New START&#39;s demise but said Beijing &quot;will not participate in nuclear disarmament negotiations at this stage.&quot; &quot;China&#39;s nuclear capabilities are of a totally different scale as those of the United States and Russia,&quot; foreign ministry spokesman Lin Jian told a news conference. Russia and the United States together control more than 80% of the world&#39;s nuclear warheads. China&#39;s nuclear arsenal is growing faster than any country&#39;s, by about 100 new warheads a year since 2023, according to the Stockholm International Peace Research Institute. China is estimated to have at least 600 nuclear warheads, the institute says &mdash; well below the 800 each at which Russia and the United States were capped under New START. France and Britain, treaty-bound US allies, together have another 100. Daryl Kimball, executive director of the Arms Control Association, which warns of nuclear risks, agreed that China should engage. But &quot;there is no indication that Trump or his team have taken the time to propose risk reduction or arms control talks with China since returning to office in 2025,&quot; Kimball said.

Americas

Europe

Trump administration has repeatedly pressed for a new treaty to include China, whose arsenal is growing but still significantly smaller than those of Russia and the United States, but Beijing has publicly rejected the pressure.

Trump urges new nuclear treaty after Russia agreement ends

LONDON: Bitcoin, the world&#39;s biggest cryptocurrency, extended its price slump Thursday to trade under $70,000 for the first time since Donald Trump&#39;s presidential election victory in November 2024.&nbsp;The digital currency dropped as low as $69,821.18 before climbing back above $70,000.&nbsp;Bitcoin has fallen sharply in recent weeks as investors pull back from risky assets. It had reached a record high above $126,000 in October.&nbsp;&quot;Bitcoin continues to suffer... caught up in the broader risk-off mood and geopolitical turmoil that has pushed investors away from riskier assets towards safe havens,&quot; noted Victoria Scholar, head of investment at Interactive Investor.&nbsp;The volatile cryptocurrency soared after Trump was elected as he was widely viewed as a strong supporter of the sector.&nbsp;He publicly celebrated bitcoin crossing $100,000 for the first time in December 2024.&nbsp;However it suffered a sharp setback in April last year, falling below $75,000 after the president&#39;s announcement of sweeping US tariffs rattled global markets.&nbsp;It went on to reach a record-high of $126,251.31 six months later.&nbsp;The latest downturn is driven largely by regulatory uncertainty.&nbsp;While the US Congress passed a law in July to regulate stablecoins -- a form of cryptocurrency backed by traditional assets -- a broader crypto bill, the Clarity Act, has stalled in the Senate.&nbsp;Bitcoin&#39;s has been hit also by Trump recently nominating former Federal Reserve governor Kevin Warsh to head of the US central bank.&nbsp;Warsh, seen by observers as a defender of the Fed&#39;s independence, reassured traditional markets, prompting investors to sell safe-haven assets such as gold and silver, whose prices plunged.&nbsp;Many investors rushed also to sell cryptocurrencies and other risky assets to help raise cash.&nbsp;Trump&#39;s close ties to the crypto sector have sparked accusations of conflicts of interest, as he has promoted his own cryptocurrency-related ventures since returning to office.&nbsp;According to recent Bloomberg estimates, his family&#39;s fortune grew by $1.4 billion last year from digital assets alone.&nbsp;Just hours before his inauguration in January 2025, the 79-year-old billionaire launched his own cryptocurrency, $TRUMP, which slumped after a blockbuster debut.

Crypto

Bitcoin fell below $70,000 for the first time since November 2024 as investors sold risky assets amid market and regulatory uncertainty.

Bitcoin under $70,000 for first time since Trump's election

MUMBAI: At least 18 people died Thursday after an explosion ripped through an illegal coal mine in the northeastern Indian state of Meghalaya, officials said.&nbsp;&quot;During the course of the rescue operation, a total of 18 dead bodies have been recovered from the site of the explosion,&quot; local police said in a statement.&nbsp;Eight other people were injured, said Manish Kumar, top official in East Jaintia Hills district where the explosion happened.&nbsp;Rescuers were digging through the rubble at the site to find out if more miners were trapped inside but the operations halted at sundown.&nbsp;Kumar said it was an &quot;illegal rat-hole mine&quot; and that authorities were awaiting personnel from state and federal disaster management agencies to resume the search on Friday morning.&nbsp;Rat-hole mines are deep vertical shafts dug mostly into hillsides that branch out into narrow tunnels to reach and retrieve coal and other minerals.&nbsp;A federal environment court banned rat-hole mining in Meghalaya in 2014 after local communities complained it was polluting water sources and putting lives at risk.&nbsp;But it&#39;s still widely practised across the state, especially in the East Jaintia Hills.&nbsp;District police chief Vikash Kumar told AFP that the explosion was likely due to a dynamite blast but added that further forensic investigation was underway.&nbsp;&quot;After the explosion, a fire happened. Lots of toxic gas has accumulated,&quot; Vikash Kumar said.&nbsp;Meghalaya chief minister Conrad K. Sangma said a &quot;comprehensive inquiry&quot; had been ordered into the incident and promised accountability.&nbsp;Prime Minister Narendra Modi said he was &quot;pained by the mishap&quot;.&nbsp;&quot;Condolences to those who lost their loved ones. May the injured recover at the earliest,&quot; he said in a statement on social media.&nbsp;The families of the deceased would receive 200,000 rupees ($2,216) compensation, the statement said.

Asia

At least 18 people were killed after an explosion at an illegal coal mine in India’s northeastern state of Meghalaya. Police said all bodies were recovered during rescue operations at the site on Thursday.

Explosion in illegal Indian coal mine kills 18: police

KYIV: Ukraine and Russia have conducted their first prisoner exchange in months, each releasing at least 157 people, both countries said Thursday, amid US-brokered talks in Abu Dhabi aimed at ending the war.&nbsp;The two sides have in the past conducted several rounds of prisoner swaps, one of the rare areas of direct cooperation between Ukraine and Russia amid the four-year war, but last month Kyiv accused Moscow of halting the exchanges.&nbsp;On Thursday, amid three-way talks in <a href="https://www.pakistantv.com/article/ukraine-delegation-arrives-in-uae-for-russia-talks" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Abu Dhabi</a>, the countries swapped 157 captured soldiers and civilians each in an exchange mediated by Washington -- the first since October.&nbsp;&quot;Today&#39;s exchange came after a long pause, and it is critical that we were able to make it happen. I thank everyone who works to make these exchanges possible,&quot; Ukrainian President Volodymyr Zelensky said on social media.&nbsp;Images he posted showed the released prisoners, their heads freshly shaven, wrapped in Ukrainian flags and smiling amid falling snow.&nbsp;Ukrainian Ombudsman Dmytro Lubinets said among the 157 Ukrainians released &quot;are seven civilians and those whom the Russians unlawfully convicted.&quot;&nbsp;Zelensky&#39;s aide Kyrylo Budanov said that in the group of the freed prisoners were 19 Ukrainians &quot;who were illegally sentenced, 15 of them to life imprisonment.&quot;&nbsp;Russia, who said the United States and United Arab Emirates acted as mediators for the exchange, announced earlier it had handed over 157 Ukrainian soldiers and that 157 Russian servicemen were returned.&nbsp;&quot;In addition, three Russian citizens, residents of the Kursk region... &nbsp;will be returned home,&quot; the Russian defence ministry said in a statement.&nbsp;Ukrainian forces launched a surprise incursion into Russia&#39;s western Kursk region in 2024.

Ukraine and Russia carried out their first prisoner exchange in months, releasing 157 people each during US-brokered talks in Abu Dhabi. The swap included soldiers and civilians and was welcomed by President Zelensky on Thursday.

Ukraine, Russia exchange POWs for first time in months

LONDON: England Test captain Ben Stokes has suffered a severe facial injury after being struck by a cricket ball.&nbsp;The 34-year-old all-rounder posted a picture on Instagram showing his right eye heavily swollen and bruised, a graze on his cheek and lip, and a bandage stuffed in his nose.&nbsp;&quot;You should see the state of the cricket ball,&quot; read Stokes&#39; caption of the picture, alongside a laughing face emoji.&nbsp;Stokes is back in England following a woeful Ashes tour, which ended with a 4-1 series loss to Australia last month.&nbsp;Although Stokes has made it clear he wants to continue to captain the red-ball side, his position remains uncertain amid an England and Wales Cricket Board review.&nbsp;England coach Brendon McCullum has labelled some of the ensuing fall-out from the Ashes &quot;out of order&quot;.&nbsp;Stokes is no longer a member of England&#39;s white-ball set-up and won&#39;t feature in the T20 World Cup in India and Sri Lanka that starts this weekend.&nbsp;He could next play for Durham in the early rounds of the County Championship before England begin their home Test season against New Zealand at Lord&#39;s on June 4 -- Stokes&#39;s 35th birthday.&nbsp;Stokes is currently recovering from an adductor injury suffered during the fifth Ashes Test in Sydney in January.&nbsp;The injury prevented him from bowling in Australia&#39;s second innings and completed a frustrating tour for the England skipper, who bowled well throughout the series but struggled with the bat.&nbsp;Stokes&#39; groin problem is the latest of several injuries that have blighted his career.&nbsp;In 2024, he tore his hamstring twice and he finished last season&#39;s home series against India on the sidelines due to a shoulder problem, having undergone an operation in late 2023 to deal with knee issues.&nbsp;Stokes is contracted by England until the end of the 2027 home season summer and he may now avoid entering next month&#39;s auction for the Hundred, leaving him free to focus on the Test team.

Cricket

England captain Ben Stokes suffered a facial injury after being hit by a cricket ball. He is recovering from injuries and remains uncertain about his future after the Ashes loss.

England captain Stokes suffers facial injury after being hit by ball

Azhar Javaid

KUWAIT CITY: Pakistan on Thursday formally assumed the presidency of the Digital Cooperation Organization (DCO) during a handover ceremony at the body&rsquo;s 5th General Assembly in Kuwait, attended by senior officials and representatives from 16 member states. Information Technology and Telecommunication Minister Shiza Fatima Khawaja represented Pakistan at the ceremony, taking over the presidency and reaffirming Islamabad&rsquo;s commitment to digital cooperation, inclusion and shared technological progress. In a video message posted by the DCO on its official Instagram page, Khawaja thanked the organization&rsquo;s leadership and accepted the presidency on behalf of Pakistan. &ldquo;First of all, I would like to thank the Secretary General, Deemah Al-Yahya, for her continuous leadership of the Digital Cooperation Organization over the past five years,&rdquo; she said. &ldquo;I would also like to humbly accept the presidency of the DCO on behalf of Pakistan. It is an absolute honor, and one that comes with great responsibility, to work collaboratively on our shared digital future,&rdquo; Khawaja added. Emphasizing cooperation among member states, she said, &ldquo;At the DCO, we believe in the power of collaboration, especially in the field of digital cooperation.&rdquo; The DCO is a multilateral platform focused on advancing digital infrastructure, data governance and international collaboration. Pakistan&rsquo;s presidency is expected to prioritize inclusive digital growth, cybersecurity, digital literacy and responsible adoption of emerging technologies. Officials said Pakistan&rsquo;s leadership of the organization reflects its expanding role in global digital policy discussions and its push for equitable access to technology across developing and emerging economies.

Pakistan IT Minister Shiza Fatima Khawaja assumes DCO presidency in Kuwait, pledging collaboration, inclusion and shared digital progress among member states at fifth General Assembly.

Pakistan assumes DCO presidency, pledges inclusive digital future

ISLAMABAD: Uzbek President Shavkat Mirziyoyev arrived in Islamabad on Thursday for a two-day state visit as Pakistan and Uzbekistan signed a wide-ranging set of agreements aimed at boosting bilateral trade to $2 billion over the next five years and expanding cooperation across multiple sectors, according to an official statement.&nbsp;Mirziyoyev, accompanied by a high-level delegation of cabinet ministers and business leaders, was welcomed at Nur Khan Airbase with a red-carpet reception. A 21-gun salute was fired, while a contingent of the Pakistan Armed Forces presented a guard of honor. Children in traditional dress waved the national flags of both countries and presented floral bouquets to the visiting leader.&nbsp;Prime Minister Shehbaz Sharif greeted the Uzbek president, describing the visit as an opportunity to &ldquo;further strengthen the close and brotherly ties between Pakistan and Uzbekistan and translate political understanding into concrete economic outcomes.&rdquo;&nbsp;The visit comes amid intensified regional engagement by Islamabad, following the 10th session of the Pakistan&ndash;Uzbekistan Intergovernmental Commission earlier this week, where both sides agreed on a time-bound plan to expand trade, investment and regional connectivity. It also follows a high-level visit by Kazakh President Kassym-Jomart Tokayev, underscoring Pakistan&rsquo;s broader push to deepen economic links with Central Asian partners.&nbsp;During talks at the Prime Minister&rsquo;s House, Sharif and Mirziyoyev signed a bilateral trade and economic cooperation agreement, committing both sides to raise trade volumes to $2 billion within five years. The two leaders also witnessed the exchange of 28 agreements and memoranda of understanding spanning trade and investment, defense, agriculture, pharmaceuticals, information technology, mining, energy, education, culture, disaster management and maritime cooperation.&nbsp;Key accords included a defense cooperation action plan, agreements on preferential trade, maritime connectivity through Karachi, Gwadar and Port Qasim, cooperation in pharmaceuticals, agriculture and food security, digital technologies, climate change and disaster risk reduction, as well as the establishment of a Pakistan&ndash;Uzbekistan Interregional Forum and a Joint Business Council to strengthen business-to-business ties.&nbsp;In remarks to the media, Sharif praised Mirziyoyev&rsquo;s role in advancing regional peace and development, saying:&nbsp;&ldquo;I would like to convey my heartfelt congratulations on being awarded the highest civil award of Pakistan, Nishan-e-Pakistan, for your great services and contribution to strengthen our brotherly relations and your commitment to convert these friendly relations into economic cooperation, trade and investment.&rdquo;&nbsp;Sharif also highlighted the shared historical and cultural bonds between the two countries, noting:&nbsp;&ldquo;The Mughal legacy from the valley of Fergana and the intellectual luminaries of Samarkand and Bukhara have marked Pakistan&rsquo;s history. These historical facts provide a very sound foundation for our durable relations and a very bright future.&rdquo;&nbsp;The leaders inaugurated the High-Level Strategic Cooperation Council, a new mechanism designed to ensure implementation of bilateral decisions. They also discussed regional connectivity initiatives, including the Uzbekistan&ndash;Afghanistan&ndash;Pakistan railway project, which Sharif described as &ldquo;a game changer, not only for our countries but for the entire region.&rdquo;&nbsp;&ldquo;We have agreed to constitute a joint working group to chart out a five-year plan covering all spheres of economic activity, with quarterly reviews to ensure tangible results,&rdquo; Sharif said.&nbsp;As part of the visit, the two leaders unveiled plaques for Tashkent Street and Babur Park in Islamabad. Mirziyoyev also visited Global Industrial &amp; Defense Solutions, where he met Pakistan&rsquo;s Chief of Army Staff and Chief of Defense Forces Field Marshal Asim Munir to discuss defense cooperation.&nbsp;Deputy Prime Minister and Foreign Minister Ishaq Dar described the visit as a milestone, saying:&nbsp;&ldquo;Both sides reaffirmed their commitment to further deepen and diversify the longstanding brotherly relations between Pakistan and Uzbekistan.&rdquo;&nbsp;This is President Mirziyoyev&rsquo;s second visit to Pakistan in four years, reflecting what officials describe as the upward trajectory of bilateral relations, anchored in shared history and an expanding economic and strategic partnership across Central and South Asia.

Uzbek President Shavkat Mirziyoyev begins two-day state visit as Islamabad and Tashkent sign 28 agreements, pledging to raise bilateral trade to $2 billion and expand cooperation across key sectors.

Pakistan, Uzbekistan seal 28 deals, target $2 billion trade expansion

ISLAMABAD: Pakistan&rsquo;s Interior Minister Mohsin Naqvi met Chinese Ambassador Jiang Zaidong on Thursday, with both sides condemning recent terrorist attacks in Balochistan and reaffirming their commitment to strengthening security cooperation under the China-Pakistan strategic partnership.&nbsp;During the meeting at the Interior Ministry, the Chinese envoy expressed condolences over the loss of&nbsp;<a href="https://www.pakistantv.com/article/12-indianbacked-militants-killed-in-clearance-operation-after-terrorists-attack-in-police-station-banks-pakistan-army" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">civilian and security personnel&#39;s lives</a>&nbsp;in the attacks and conveyed China&rsquo;s solidarity with the affected families. He said Beijing strongly opposes terrorism in all its forms and stands firmly with Pakistan in its fight against militancy, according to an official statement.&nbsp;&nbsp;Naqvi said the attacks in Balochistan were carried out under what he described as a &ldquo;well-planned and organized scheme,&rdquo; adding that Pakistan&rsquo;s security forces had&nbsp;<a href="https://www.pakistantv.com/article/pakistan-security-forces-kill-216-terrorists-in-balochistan-operation-military" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">responded in a timely and effective manner</a>.&nbsp;He briefed the ambassador on ongoing security operations in the province and on measures being taken to protect Chinese nationals and projects in Pakistan, calling their safety a top priority.&nbsp;Naqvi said Pakistan was in the process of establishing a Special Protection Unit for Chinese citizens and added that modern Chinese technology and equipment would support coordinated counter-terrorism operations.&nbsp;The two sides discussed counter-terrorism, internal security cooperation, intelligence sharing, and collaboration in tackling cybercrime, according to an official statement.&nbsp;Both Naqvi and Jiang reaffirmed their commitment to further strengthening the China-Pakistan strategic partnership. The Chinese ambassador thanked Pakistan for the steps taken to ensure the security of Chinese nationals, while Naqvi expressed appreciation for China&rsquo;s continued support for Pakistan.&nbsp;Minister of State for Interior Talal Chaudhry, senior Interior Ministry officials, and Chinese embassy representatives were also present at the meeting.

Ambassador Jiang Zaidong meets Mohsin Naqvi

Security

The Chinese envoy expresses condolences over the loss of civilian and security personnel's lives in the attacks and conveyed China’s solidarity with the affected families

Pakistan, China reaffirm security cooperation after Balochistan attacks

TOKYO: Japanese giant Sony hiked its full-year forecasts on Thursday, as a weaker yen compensates for its ageing PlayStation games console and a memory chip crunch.&nbsp;Sony now expects net profit of 1.13 trillion yen ($7.2 billion) in the 2025-26 fiscal year, up from its previous projection of 1.05 trillion yen, and a 6%&nbsp;rise on last year.&nbsp;It also projected a 20.6%&nbsp;rise in operating profit and revenues of 12.3 trillion yen, up 2.2%, as well as an improved operating margin of 12.5%, a statement said.&nbsp;For its third quarter, Sony&#39;s net profit rose 11%, and revenues were up 1%. Operating income of 515 billion yen beat analysts&#39; expectations.&nbsp;Sony&#39;s&nbsp;<a href="https://www.pakistantv.com/article/marvels-wolverine-trailer-delivers-cuttingedge-graphics-gritty-violence" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">PlayStation 5</a>&nbsp;(PS5), launched in 2020, is beginning to get old, and sales volumes of the games console fell 16%&nbsp;in the last quarter.&nbsp;The company offered steep discounts on the device last year in an attempt to boost demand.&nbsp;However, the Japanese group, like its competitors worldwide, is suffering from a growing shortage of memory chips.&nbsp;That is driving up the prices of the chips and eroding the profit margins of all sorts of electronic goods.&nbsp;Shares in Nintendo, maker of the rival Switch 2, dived 11%&nbsp;on Wednesday over concerns about software sales and the impact of the memory chip supply crunch.&nbsp;Sony shares initially soared almost 6%&nbsp;on Thursday but were flat in late trade in a falling overall market.&nbsp;&lsquo;AI boom&rsquo;The artificial intelligence boom has pushed up prices and shipments of conventional NAND and DRAM memory chips, while demand for high‑bandwidth memory (HBM) chips used in AI servers has soared.&nbsp;&quot;It will definitely get more difficult to offer reduced prices (of the PS5) this year than in 2025,&quot; gaming industry consultant Serkan Toto told AFP.&nbsp;Sony did not comment on the chip issue in its earnings release, which analysts say could also hit its hardware products, such as cameras, TVs, and smartphones, as well as its image sensor segment.&nbsp;Last month, Sony said it was spinning off its home entertainment business, which includes TVs, into a joint venture with Chinese giant TCL.&nbsp;It might also force Sony to delay the launch of a potential PlayStation 6 to the second quarter of 2028, Yasuo Nakane from Mizuho said in a recent note. &#39;Grand Theft Auto VI&#39;&nbsp;The hotly anticipated upcoming release of &quot;<a href="https://www.pakistantv.com/article/grand-theft-auto-vi-video-game-delayed-again-until-nov-2026" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Grand Theft Auto VI</a>&quot; is also important for PlayStation&#39;s continued sales.&nbsp;GTA&#39;s creators, Rockstar Games, delayed the launch again last year, this time until November.&nbsp;&quot;In 2026, GTA VI will do to PS5 what Covid did a few years ago to Sony: provide a massive boost, enough to carry the platform to 2028,&quot; Toto said.&nbsp;&quot;Nobody doubts that GTA VI will be the biggest game launch (and perhaps of an entertainment product) of all time.&quot;&nbsp;Sony is also banking on growth in the music division thanks to increased sales related to concerts and merchandise, while results are expected to stagnate in film and consumer electronics.&nbsp;It began reducing its exposure to this low-margin sector several years ago to focus on entertainment and imaging technologies, its main growth drivers.&nbsp;Sony&#39;s forecast for the estimated impact of tariffs this year imposed on Japanese imports by US President Donald Trump&#39;s administration remained at 50 billion yen.

People walk past the Sony headquarters in Tokyo on February 10, 2025. (Photo: AFP/File)

Business

It also projects a 20.6% rise in operating profit and revenues of 12.3 trillion yen, up 2.2%, as well as an improved operating margin of 12.5%, a statement said.

Pakistan, Jordan agree on trade pact, expand cooperation across sectors

Latest News

Trump urges new nuclear treaty after Russia agreement ends

Pakistan, Jordan agree on trade pact, expand cooperation across sectors

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