WASHINGTON: The United States issued an updated list Monday of Chinese companies that it believes are aiding the country&#39;s military -- including e-commerce giant Alibaba, search engine provider Baidu and electric vehicle maker BYD. The US Defense Department unveiled the designations just weeks after President Donald Trump met Chinese leader Xi Jinping in Beijing, with both sides seeking to maintain stability in the bilateral relationship. Trump has since invited Xi to pay a reciprocal visit to Washington in September. But the latest release could fan tensions between the world&#39;s two biggest economies. The Pentagon&#39;s update Monday comes months after it briefly released -- then withdrew -- an earlier version of the list without explanation. The new list is largely similar to the version momentarily published in February, except for two memory chipmakers, which were reinstated to the blacklist after having been removed from it at the time. The re-added companies are ChangXin Memory Technologies and Yangtze Memory Technologies. The companies targeted also cover some of China&#39;s key tech giants involved in artificial intelligence, like Alibaba, Baidu and Tencent. Tencent was already previously designated. While the determinations have few immediate legal implications for many of the companies, it is seen as a move that could precede more punitive measures. Other companies that were added include pharmaceutical firm WuXi AppTec and start-up Unitree, which makes humanoid robots.

China

The United States adds Alibaba, Baidu, BYD and other Chinese firms to a Pentagon list of companies allegedly supporting China's military, a move that could pave the way for future restrictions.

Pentagon says Alibaba, Baidu and other tech firms aiding China's military

SEOUL: Chinese President Xi Jinping said Monday that Beijing&#39;s friendship with Pyongyang was &quot;invincible&quot; and pledged closer cooperation, North Korean state media reported, as Xi prepared to visit the North for the first time in seven years. &quot;No matter how the times change or how the international situation evolves, the traditional friendship between China and North Korea will always remain invincible,&quot; Xi wrote in an article featured on the front page of Rodong Sinmun newspaper.

Chinese President Xi Jinping says that Beijing's friendship with Pyongyang is 'invincible,' pledging closer cooperation.

China's Xi says friendship with North Korea 'invincible' ahead of visit

BEIJING: Chinese President Xi Jinping will visit North Korea next week, state media said Friday, the latest in a series of high-level summits as Beijing asserts its position as a diplomatic superpower on the world stage. State broadcaster CCTV said that Xi would visit from June 8 to 9 at the invitation of North Korean leader Kim Jong Un, his first trip to Pyongyang in seven years. Beijing is a vital source of political and economic support to North Korea, which is one of the most diplomatically isolated countries in the world and under heavy international sanctions. The upcoming meeting will be Xi&#39;s first official trip abroad this year, and comes after he hosted back-to-back summits with US President Donald Trump and Russia&#39;s Vladimir Putin last month. &quot;China is meeting leaders from around the world, coordinating positions and playing a mediating role,&quot; Lim Eul-chul, a North Korea expert at South Korea&#39;s Kyungnam University, told AFP. &quot;As China&#39;s international standing rises, Beijing is likely seeking to draw Pyongyang more actively into its diplomatic orbit as a partner in advancing a more multilateral order.&quot; Pyongyang depends on China for up to 95% of total trade and 85% of its exports, according to 2022 statistics from the National Committee on North Korea, a Washington-based think tank. But North Korea has drawn closer to Russia in recent years, particularly since Moscow&#39;s full-scale invasion of Ukraine in 2022, with Pyongyang sending thousands of troops and weapons to support the war effort. In return, analysts say North Korea is receiving financial aid, military technology, food, and energy, helping it circumvent sanctions over its banned nuclear programmes. Xi&#39;s choice of Pyongyang for his first overseas trip of 2026 is &quot;a deliberate visual rebuttal to the prevailing read in Western capitals that Pyongyang had quietly migrated into Moscow&#39;s orbit&quot;, said Seong-Hyon Lee from the George H. W. Bush Foundation for US-China Relations. Managing the relationshipXi last met Kim in September, when he invited the North Korean leader and Russia&#39;s Vladimir Putin as guests of honor to a military parade in Beijing marking the 80th anniversary of the victory over imperial Japan in World War II. In 2019, Xi and his wife Peng Liyuan were welcomed to North Korea with great pomp and fanfare to celebrate the two countries&#39; &quot;unbreakable friendship&quot;. Prior to that trip, no Chinese leader had visited the North since Hu Jintao in 2005. Beijing&#39;s Foreign Minister Wang Yi said during a visit to Pyongyang in April that China and Korea should &quot;enhance coordination&quot; on international and regional issues and &quot;maintain close communication and interaction&quot;. China&#39;s interests include keeping an eye on North Korea&#39;s nuclear programme, the advancement of which is &quot;extremely rapid&quot;, Hong Min of the Korea Institute for National Unification (KINU) told AFP. &quot;This aspect needs to be managed. If North Korea acts in a provocative and belligerent manner, it could trigger regional conflict, which could run counter to China&#39;s interests,&quot; Hong said. Kim vowed an &quot;exponential&quot; increase in nuclear military capabilities on Wednesday as he visited a new atomic facility, Pyongyang&#39;s state-run Korean Central News Agency reported. South Korea&#39;s foreign ministry has said it hopes exchanges between North Korea and China contribute to peace and stability, and that China can play a constructive role. Pyongyang has repeatedly shunned efforts by the South Korean government to improve relations, calling Seoul its most &quot;hostile&quot; adversary. Traditional US allies, including Britain&#39;s Keir Starmer and France&#39;s Emmanuel Macron, have also come to Beijing. However, Hong, of KINU, judged the chances that Xi might help broker a meeting between Trump and Kim as &quot;very low&quot;.

This June 21, 2019 picture released from North Korea's official Korean Central News Agency (KCNA) on June 22, 2019 shows China's President Xi Jinping (centre R) speaking with North Korean leader Kim Jong Un (front L) upon his departure at the airport in P

State broadcaster CCTV said that Xi would visit from June 8 to 9 at the invitation of North Korean leader Kim Jong Un, his first trip to Pyongyang in seven years.



China's Xi to visit North Korea next week

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ISLAMABAD: China&#39;s Pinglu Canal, a strategic inland waterway project in Guangxi Zhuang Autonomous Region in southwestern China, began its water-testing phase after two key navigation hubs started filling on Wednesday, according to reports from Chinese state media. The canal is scheduled for full navigation in September. The Madao and Qishi hubs commenced water-filling operations, enabling the entire 134.2-kilometer canal to become fully connected by water, as reported by China News Service (ECNS). The canal stretches from the city of Hengzhou in Guangxi to the Beibu Gulf. It is designed to accommodate vessels of up to 5,000 tons. The Pinglu Canal is China&#39;s first nationally coordinated canal linking inland rivers to the sea since 1949, according to ECNS. It forms a key component of the New International Land-Sea Trade Corridor. Goods from southwestern China destined for Southeast Asia had to detour hundreds of kilometers through southern ports, increasing transport time and costs. The canal will directly link the region&#39;s inland waterways with maritime shipping networks, shortening sea routes by about 560 kilometers. The canal is also expected to reduce logistics costs for southwestern China&#39;s exports to Association of Southeast Asian Nations members by 18 to 30%, potentially saving more than $739 million annually, according to expert estimates reported by ECNS. The Chinese news outlet reported that trade efficiency gains will particularly benefit automotive, machinery, new energy and electronics sectors.

The Pinglu Canal is China's first nationally coordinated canal linking inland rivers to the sea since 1949, and is part of the ambitious New International Land-Sea Trade Corridor.

China's Pinglu canal enters water tests, targets September opening

BEIJING: China&#39;s top diplomat said during a trip to Ottawa that high-level political and security talks with Canada would resume, Beijing&#39;s foreign ministry said on Saturday, in a further sign of improving ties. The relationship has warmed in recent months even as Ottawa&#39;s ties with traditional ally Washington have soured following Canadian Prime Minister Mark Carney&#39;s meeting with Chinese President Xi Jinping in Beijing in January.&nbsp;&lsquo;Fully restored&rsquo;Wang Yi&#39;s short visit to Canada, which began on Thursday, was the first by a Chinese foreign minister in a decade. &quot;Bilateral relations have set sail anew, exchanges and cooperation across all fields have been fully restored and the major economic and trade concerns of both sides have been properly addressed,&quot; Wang told his Canadian counterpart Anita Anand, according to the Chinese foreign ministry.&nbsp;High-level dialogue&quot;The two sides agreed... to resume consultations on political and security issues at the foreign ministry level, as well as high-level dialogue on national security and the rule of law,&quot; the statement said. Beijing lowered some duties on Canadian goods this year, while Ottawa agreed to import tens of thousands of Chinese electric vehicles under preferential tariffs.&nbsp;$90B bilateral trade&nbsp;According to China&#39;s foreign ministry, Anand told Wang that Canada was &quot;looking forward to increasing exports to China by 50% before 2030&quot;. Bilateral trade between the countries reached nearly $90 billion in 2025, up 4.9% year-on-year, according to analysis by the University of Alberta, as Canadian exports to China surged by 13.8%.

Beijing lowered some duties on Canadian goods this year, while Ottawa agreed to import tens of thousands of Chinese electric vehicles under preferential tariffs.

China's top diplomat says Canada ties 'fully restored'

BEIJING: Rescue teams were searching for two people missing in a coal mine blast in northern China that left at least 82 dead, state media said early Sunday. The blast marked China&#39;s worst mining disaster in 17 years and authorities said the company involved had committed &quot;serious&quot; violations, with toxic gases accumulating in the mine. The state news agency Xinhua said early Sunday an all-out rescue operation was under way to save the two people who were missing. A total of 247 workers were underground at the time of the blast, which occurred at 7:29 pm (1129 GMT) on Friday at the Liushenyu coal mine in Shanxi province, according to Xinhua. Of those, 128 people were sent to hospital for treatment, CCTV said. Toxic and harmful gases under the mine shaft had exceeded safe limits for a long time, posing a risk of secondary disasters, officials told a news conference Saturday evening, according to Xinhua. Preliminary findings showed the mining company had committed &quot;serious illegal violations&quot;, authorities said in the press conference broadcast on CCTV.A total of 755 emergency and medical personnel were dispatched to the site, CCTV said. On Saturday evening rescue teams took turns going down into the mine shaft to look for the missing workers. &quot;As long as there is hope, we will make every possible effort,&quot; one rescuer told Xinhua. Friday&#39;s explosion was the deadliest mining disaster in China since 2009, when 108 people were killed in a mine blast in northeast Heilongjiang province. Sulphur smellInjured miner Wang Yong told CCTV he heard no sound but smelled sulphur when the explosion happened. &quot;I didn&#39;t hear any sound at all, but then a cloud of smoke appeared,&quot; Wang said. &quot;When I smelled it, it was the smell of sulfur like when people set off firecrackers. When the smoke came down, I shouted for people to run,&quot; he said.He recalled seeing people choked by smoke before he fainted. &quot;After more than an hour, I came to on my own, and then I woke up the person next to me&quot; and got out, he told CCTV. Helmeted rescuers were carrying stretchers at the site, with ambulances visible in the background, CCTV footage showed. Hospitalized people lay in beds with bandages around their heads, the images showed. Others were on oxygen support. Doctors provided oxygen, dehydration to reduce intracranial pressure and psychological treatment to patients, a nurse told CCTV. President Xi Jinping urged &quot;all-out efforts&quot; to treat the injured and called for thorough investigations into the incident, according to Xinhua. China&#39;s government vowed to severely punish those responsible and ordered a nationwide crackdown on illegal mining activities, Xinhua said. &quot;The State Council&#39;s accident investigation team will conduct a rigorous and uncompromising investigation,&quot; Xinhua said. &quot;Those found responsible will be severely punished in accordance with laws and regulations.&quot; &quot;All regions and relevant authorities are required to... launch tough crackdowns on illegal and unlawful activities&quot;, including the falsification of safety data, unclear headcounts of underground workers and illegal contracting, it added. A person &quot;responsible for&quot; the company involved in the explosion has been &quot;placed under control in accordance with the law&quot;, Xinhua said. Lax safety protocolsShanxi, one of China&#39;s poorer provinces, is the center of the country&#39;s coal mining. Mine safety in China has improved in recent decades, but accidents still occur.&nbsp;In 2023, a collapse at an open-pit coal mine in the northern Inner Mongolia region killed 53 people. China is the world&#39;s top consumer of coal, despite installing renewable energy capacity at record speed.

Rescue teams search for missing workers as authorities investigate serious safety violations and toxic gas buildup, with hundreds of workers affected and officials pledging a nationwide crackdown on illegal mining.

China authorities report 82 dead in coal mine blast, serious violations

BEIJING: A gas explosion at a coal mine in northern China has killed at least 90 people, state media reported on Saturday, the country&#39;s biggest mining disaster in 17 years. A total of 247 workers were underground at the time of the blast, which occurred at 7:29 pm (1129 GMT) on Friday at the Liushenyu coal mine in Shanxi province, according to state news agency Xinhua. Most of them were brought to the surface by Saturday morning, Xinhua said, confirming that at least 90 people had died. A total of 345 emergency personnel were dispatched to the site, with rescuers earlier searching &quot;intensively&quot; for nine people who remained unaccounted for, the news agency added. Friday&#39;s explosion was the worst mining disaster in China since 2009, when 108 people were killed in a mine blast in northeast Heilongjiang province. Gas &#39;exceeded limits&#39; Helmeted rescuers were carrying stretchers at the site, with ambulances visible in the background, video by state broadcaster CCTV showed. President Xi Jinping urged &quot;all-out efforts&quot; to treat the injured and called for thorough investigations into the incident, according to Xinhua. He &quot;emphasised that all regions and departments must draw lessons from this accident, remain constantly vigilant regarding workplace safety ... and resolutely prevent and curb the occurrence of major and catastrophic accidents&quot;. A person &quot;responsible for&quot; the company involved in the explosion has been &quot;placed under control in accordance with the law,&quot; Xinhua said. State media initially reported four deaths and dozens trapped after levels of carbon monoxide -- a highly toxic, odourless gas -- in the mine were found to have &quot;exceeded limits.&quot; Some of those stuck underground were in &quot;critical condition,&quot; that report said. The death toll then jumped sharply as the morning wore on. Lax safety protocols Shanxi, one of China&#39;s poorer provinces, is the centre of the country&#39;s coal-mining. Mine safety in China has improved in recent decades, but accidents still occur in an industry where safety protocols are often lax and regulations vague. In 2023, a collapse at an open-pit coal mine in the northern Inner Mongolia region killed 53 people. China is the world&#39;s top consumer of coal and the largest greenhouse gas emitter, despite installing renewable energy capacity at record speed.

A gas explosion at a coal mine in northern China has killed at least 90 people, state media reported on Saturday, the country's biggest mining disaster in 17 years.

China coal mine blast kills at least 90, more missing

BEIJING: China&#39;s top diplomat Wang Yi will visit Canada next week, seeking to build &quot;a new type of strategic partnership&quot;, Beijing said Friday. Wang will visit Canada from May 28 to 30, the first time a Chinese foreign minister has done so in 10 years, according to a government statement. China&#39;s ties with Canada have improved recently as the latter&#39;s relations with traditional ally Washington have soured, with Prime Minister Mark Carney visiting Beijing in January. Wang&#39;s trip &quot;is of great significance for consolidating the positive momentum in the improvement of bilateral relations&quot;, Chinese foreign ministry spokesman Guo Jiakun told a news briefing Friday. &quot;China&ndash;Canada relations are currently undergoing a transition and continuing to improve, with both sides working to build a new type of strategic partnership,&quot; Guo said. Carney&#39;s winter trip to Beijing was one of a steady stream by foreign leaders hoping to woo China as they recoil from US President Donald Trump&#39;s mercurial policies and trade tariffs. Carney secured what he called a &quot;landmark trade agreement&quot; following talks with leader Xi Jinping, which has since seen China reduce anti-dumping duties on rapeseed imported from Canada. Beijing also temporarily lowered some tariffs on Canadian goods, while Ottawa agreed to import 49,000 Chinese electric vehicles under preferential tariffs. Wang will hold talks on advancing agreements reached between the two countries in January during his trip, spokesman Guo said. The trip will promote &quot;the development of a truly productive new China&ndash;Canada strategic partnership&quot;, Guo added.

China's President Xi Jinping (L) speaks next to China's Foreign Minister Wang Yi (2nd L) during a meeting at the Great Hall of the People in Beijing on May 14, 2026. (Photo by Brendan SMIALOWSKI / AFP)

Wang Yi is set to visit Canada from May 28 to 30, marking the first visit by a Chinese foreign minister in 10 years as Ottawa and Beijing move toward 'a new type of strategic partnership.'

China's top diplomat to boost 'new partnership' with Canada visit

BEIJING:&nbsp;Chinese President Xi Jinping and Russian President Vladimir Putin signed in Beijing on Wednesday a joint statement on further enhancing the comprehensive strategic coordination and deepening good-neighbourliness and friendly cooperation between the two countries, said the Chinese state news agency Xinhua. The news agency quoted President Xi as saying that the China-Russia relationship has entered a new stage of greater achievements and faster development. Xi made the remarks when holding talks with Russian President Vladimir Putin, who is on a state visit to China, at the Great Hall of the People in Beijing. The Chinese President pointed out that in recent years, faced with a fluid and turbulent international situation, China and Russia have developed a comprehensive strategic partnership of coordination for a new era based on equality, mutual respect, good faith, and win-win cooperation. Earlier, Russian President Vladimir Putin held talks with Chinese leader Xi Jinping on Wednesday in Beijing&#39;s Great Hall of the People, Russian media reported. Putin is in Beijing seeking to underscore their unshakeable alliance, days after US President Donald Trump visited the Chinese capital. Russian President Vladimir Putin had arrived in Beijing late on Tuesday for talks with his Chinese counterpart and &quot;long-time good friend&quot; Xi Jinping, intending to show their ties are unshakeable days after a visit by Donald Trump. The confirmation of Putin&#39;s trip came just hours after Trump wrapped up his visit on Friday, the first by a US president to China in nearly a decade and one aimed at stabilizing their turbulent relations. Putin arrived at Beijing Capital International Airport around 11:15 p.m. (1515 GMT) on Tuesday, where he was greeted by Chinese Foreign Minister Wang Yi and a military band. It was a near-mirror image of Trump&#39;s arrival days earlier, with both leaders stepping out of their planes onto a red carpet as Chinese youths chanted &quot;welcome, welcome&quot; - &nbsp;this time, waving Russian flags instead of American. Putin and Xi are set to discuss how to strengthen Russia and China&#39;s strategic partnership and &quot;exchange views on key international and regional issues&quot;, according to a Kremlin statement. Their ties have deepened since Russia invaded Ukraine in 2022, with Putin visiting Beijing every year since as his country is cut off diplomatically on the world stage. However, their relationship is far from equal, with Moscow heavily dependent economically on Beijing, the main buyer of sanctioned Russian oil. Among topics Xi and Putin could discuss is the construction of the major &quot;Power of Siberia 2&quot; natural gas pipeline from Russia to China through Mongolia - a land alternative to crude imported by sea from the Middle East - which Moscow is keen to get underway. Setting a warm tone for the visit, Xi and Putin exchanged &quot;congratulatory letters&quot; on Sunday to mark 30 years of their countries&#39; strategic partnership. Chinese foreign ministry spokesperson Guo Jiakun lauded &quot;the enduring friendship between China and Russia&quot; on Tuesday. And in a video message to the Chinese people released on Tuesday, Putin said relations have reached &quot;a truly unprecedented level&quot;, and that &quot;trade between Russia and China continues to grow&quot;. &quot;The close strategic relationship between Russia and China plays a major, stabilizing role globally. Without allying against anyone, we seek peace and universal prosperity,&quot; Putin said, without mentioning any third country. The two leaders are also expected to sign a joint declaration after their talks. &#39;Dear, old friends&#39;Xi welcomed Putin with open arms as an &quot;old friend&quot; when he last visited Beijing in September 2025 - language the Chinese leader did not extend to Trump last week. Putin, who in turn called Xi his &quot;dear friend&quot;, will be keen to show the world that their relations are unaffected by Trump&#39;s visit. While Putin&#39;s visit is not expected to receive the same pomp as Trump&#39;s, &quot;the Xi-Putin relationship does not require that kind of performative reassurance&quot;, said Patricia Kim from the Brookings Institution in Washington. Both sides view ties as &quot;structurally stronger and more stable&quot; than those between China and the United States, she said. Beijing has regularly called for talks to end the war in Ukraine but has never condemned Russia for sending in troops, presenting itself instead as a neutral party. Trump and Xi discussed Ukraine last week, but the US president left China without a breakthrough. &quot;Xi will almost certainly brief Putin on his summit with Trump,&quot; Kim said. The lack of clear outcomes from the Xi-Trump meeting, though, &quot;likely reassures Moscow that Xi did not strike any understanding with Trump that would materially undercut Russian interests&quot;. Appetite for oilPutin will be hoping that China deepens its commitment to Moscow, after Trump told Fox News during his visit that Beijing had agreed to buy US oil to feed its &quot;insatiable&quot; appetite for energy. With Russia reliant on sales to China to sustain its war effort, &quot;Putin does not want to lose that support&quot;, Asia Society&#39;s Lyle Morris told AFP. &quot;Putin will likely be keen to hear from Xi about China&#39;s next step in the Middle East,&quot; Morris said, after &quot;Trump signaled clearly that he hopes Beijing will play a leading role&quot;. When it comes to the US-Israeli war on Iran, though, China and Russia may have different priorities. &quot;(China) relies on the freedom of the world&#39;s major waterways to sustain its economic activities, and would prefer that the standoff in the Strait of Hormuz end sooner rather than later,&quot; James Char of Singapore&#39;s Nanyang Technological University told AFP. On the other hand, Moscow has &quot;been benefitting economically from the fighting in Iran due to the relaxation of sanctions against Russian energy supplies, so may have a different view&quot;, he said. Russia&#39;s top diplomat, Sergei Lavrov, said after meeting Xi in April that Russia could &quot;compensate&quot; for China&#39;s energy shortages as the Middle East war hits global supplies. &quot;Expanded energy ties may feature prominently at the meeting (as) Beijing seeks more Russian energy,&quot; said Joseph Webster from the Atlantic Council. &quot;From Moscow&#39;s perspective, shipping more oil east may be more attractive in the wake of Ukraine&#39;s relentless campaign targeting Russian energy infrastructure.&quot;

Xi Jinping and Vladimir Putin signed a joint statement in Beijing aimed at strengthening the partnership between China and Russia.

China, Russia double down on strategic coordination, energy cooperation

BEIJING: President Donald Trump said he had made &quot;fantastic trade deals&quot; with China&#39;s Xi Jinping, as the pair met on Friday at final talks of a superpower summit that according to the US leader has also reaped a Chinese offer to help open the Strait of Hormuz. Trump had arrived in Beijing seeking to seal deals in sectors including agriculture, aviation and artificial intelligence, as well as to contain differences between the two sides in a number of tense geostrategic areas -- not least the Middle East war. Trump&#39;s overtures to Xi, whom he described as a &quot;great leader&quot; and &quot;friend&quot;, have so far been met with more muted tones by the Chinese leader. But the US leader said &quot;a lot of good&quot; has come out of the visit. &quot;We&#39;ve made some fantastic trade deals, great for both countries,&quot; he said after a walk with Xi among the rosebushes in the gardens of Zhongnanhai, a central leadership compound next to Beijing&#39;s Forbidden City. &quot;We&#39;ve settled a lot of different problems that other people wouldn&#39;t have been able to solve,&quot; he added, without providing details. Xi said it was a &quot;milestone visit&quot;, and that the two sides had to date established &quot;a new bilateral relationship, which is a relationship of constructive strategic stability&quot;. He promised to send Trump seeds for the White House Rose Garden. &#39;Help on Hormuz&#39;&nbsp;In an interview with Fox News after the first day of the summit wrapped, Trump said Xi had agreed to several US wish list points. On the topic of the war in Iran, the US president said Xi had effectively assured his counterpart that China was not preparing to militarily aid Tehran, which has essentially closed the Strait of Hormuz. &quot;He said he&#39;s not going to give military equipment... he said that strongly,&quot; Trump told Fox. &quot;He&#39;d like to see the Hormuz Strait open, and said &#39;if I can be of any help whatsoever, I would like to help,&#39;&quot; Trump added. Asked whether the two leaders had discussed Iran, the Chinese foreign ministry on Friday released a statement calling for &quot;a comprehensive and lasting ceasefire&quot;. &quot;Shipping lanes should be reopened as soon as possible in response to the calls of the international community,&quot; it added. Boeing, oil, soybeans&nbsp;Trump did not spell out on Friday the trade agreements that he said had been sealed with China. However, in the Fox interview, Trump said one big business deal struck involved Xi agreeing to purchase &quot;200 big&quot; Boeing jets. Shares of the US aviation giant fell after Trump&#39;s comments, in a sign the market had expected a more robust purchase from China. The US president also said Beijing had also voiced interest in buying US oil and soybeans. And Treasury Secretary Scott Bessent told CNBC that Trump and Xi were talking about setting up &quot;guardrails&quot; for the use of artificial intelligence. Bessent said the world&#39;s &quot;two AI superpowers are going to start talking&quot;, though US export controls on the advanced technology to China remain a sore point in relations.

'We've made some fantastic trade deals, great for both countries,' he said after a walk with Xi among the rosebushes in the gardens of Zhongnanhai, a central leadership compound next to Beijing's Forbidden City.

Trump says made 'fantastic trade deals' with Xi

BUENOS AIRES: Temperatures in the Antarctic Peninsula have reached a record-breaking high of 15.4C for June, and ice is melting at abnormal rates during the current winter, climate scientists told AFP on Thursday. Esperanza Base, an Argentine research station located in the north of the peninsula, recorded the unprecedented figure on June 6. The previous highest temperature on record for that month -- 13.3C -- dates back to 1998. The current heat also significantly exceeds Esperanza&#39;s June average of -6.2C. Such a figure is &quot;very unusual for this time of year,&quot; Jose Luis Stella, a climatologist at Argentina&#39;s National Meteorological Service, told AFP. Argentine bases Marambio and San Martin also recorded unequalled temperatures between June 5 and 6. Marambio recorded 11.8C, surpassing a previous high of 9.2C and its June average of -10.7C. San Martin meanwhile saw 9.4C compared to its previous 7.8C record and June average of -5.6C. &#39;Confirms a trend&#39;The northern Antarctic heatwave is not an isolated event, University of Groningen professor Raul Cordero told AFP. &quot;It confirms a trend,&quot; he said, warning that &quot;these kinds of events will continue to occur with increasing frequency&quot; if global warming is not derailed. Thomas Caton Harrison, a polar climate scientist at the British Antarctic Survey, believes a combination of factors including climate change resulted in the current heat. &quot;There is credible evidence that climate change is playing a role, but the effect is complex in this region,&quot; he said. &quot;Because Antarctica sees such big swings in temperature, we have to collect lots of data over many years to build a picture of the underlying climate.&quot; Both specialists agree that regional temperatures have been rising for years and are already showing visible effects. &quot;A surprising amount of precipitation has been falling as rain rather than snow,&quot; Caton Harrison said. &quot;This has implications for polar ecosystems such as penguin colonies,&quot; he said, adding that &quot;it poses a challenge to my colleagues working on Antarctic bases because a lot of liquid rain has been falling and creating runoff and ice.&quot; Esperanza Base has been recording above-zero temperatures daily for three consecutive weeks. This trend has caused &quot;large areas in the far north of the white continent to remain free of snow,&quot; according to Cordero, who called it &quot;an unusual scene in the Antarctic landscape during winter.&quot;

Climate

Temperatures in the Antarctic Peninsula reach a record-breaking high of 15.4C for June, as ice melts at abnormal rates during the current winter.

Antarctic Peninsula sees record high June temperatures

MEXICO CITY: Mexico ignited their World Cup party with a dominant 2-0 victory over nine-man South Africa on Thursday as the biggest ever edition of the global footballing showpiece kicked off at the iconic Estadio Azteca. Julian Quinones scored the opening goal of the tournament and veteran striker Raul Jimenez added a second as the co-hosts&#39; bid for qualification from Group A got off to smooth start. South Africa meanwhile never looked like spoiling the opening day fiesta, and finished with only nine men after Sphephelo Sithole and Themba Zwane were sent off. The Mexican-colored red, green and white smoke from pre-game fireworks had barely dissipated before Quinones fired the hosts into the lead on nine minutes, drilling a low shot through the legs of South Africa&rsquo;s goalkeeper and captain Ronwen Williams. A deafening roar cascaded down from the stands of the Azteca, the footballing cathedral that became the only stadium to host games at three different World Cups. South Africa coach Hugo Broos had warned his players to be ready for the intimidating atmosphere created by a capacity 80,824 crowd at the imposing concrete arena. But South Africa&rsquo;s players looked to have a bad case of stage fright as Mexico&#39;s fans &nbsp;greeted each completed pass with a raucous chorus of &quot;Ole!&quot; in the opening minutes Sithole seemed particularly affected, being caught in possession trying to play out of the back for Quinones&#39; opening goal. Sithole&#39;s miserable afternoon ended with a 49th minute dismissal after bundling over Mexico&rsquo;s Brian Gutierrez when clean through on goal. Mexico rammed home their advantage in the 67th minute, with a fine counter attack culminating in Roberto Alvarado crossing for Wolverhampton Wanderers forward Jimenez to nod home at the far post. It got worse for South Africa in the 84th minute when Zwane was dismissed after a VAR review for flinging an arm into the face of Alvarado. There was still time for late drama when Mexican defender Cesar Montes was shown a red card for a clumsy challenge on Khulisa Mudau on the edge of the penalty area.

Football

Mexico launches World Cup campaign with a 2-0 win over South Africa at a packed Estadio Azteca, while the visitors finish with nine men after two red cards.

Mexico beat South Africa to kick off World Cup

NEW YORK: Taylor Swift on Thursday became the youngest woman ever inducted into the prestigious Songwriters Hall of Fame, another milestone in the 36-year-old US pop star&#39;s record-breaking career. The female record was previously held by Carole Bayer Sager, who was 43 when she joined in 1987. Stevie Wonder remains the youngest person ever admitted, at age 32 in 1983. Artists become eligible for the Hall of Fame 20 years after the release of their first commercial track. For Swift, that was &quot;Tim McGraw,&quot; released in June 2006. Her success since is undeniable: the American artist has recorded 12 albums spanning country, pop, and folk, earning her 14 Grammy Awards in the United States, including four Album of the Year trophies -- a record. &quot;Swift&#39;s ability to shapeshift as a songwriter, to inhabit different sonic landscapes and write as credibly in the world of one genre as she does another is part of her superpower as a songwriter,&quot; reads her bio on the Hall of Fame website. &quot;It also represents the boldness and bravery of her artistry: to explore new frontiers when the most practical next step would be to keep mining the material that has gotten you the success in the first place.&quot; Swift appeared on the red carpet in New York on Thursday wearing a strapless black dress with floral motifs ahead of the naming ceremony. &#39;Great honor&#39;Also inducted on Thursday were Gene Simmons and Paul Stanley of KISS, the band behind hits such as &quot;Rock and Roll All Nite&quot; and &quot;Detroit Rock City.&quot; &quot;It doesn&#39;t suck,&quot; Stanley told AFP when asked how it felt to join the prestigious songwriting ranks. &quot;It&#39;s really hard to digest the idea. I certainly don&#39;t consider myself in that rarified air of some of the writers, but if you wanna be in that club, I&#39;m there.&quot; Kenny Loggins, the hitmaker behind movie soundtrack classics like &quot;Footloose&quot; and &quot;Danger Zone&quot; from &quot;Top Gun,&quot; was inducted into the Hall of Fame as well. &quot;It&#39;s a great honor and I appreciate it,&quot; Loggins told AFP. &quot;It&#39;s the culmination of a lifetime writing, and that&#39;s exciting for me.&quot; Canadian singer Alanis Morissette, inescapable in the 1990s, and American record producer Walter Afanasieff were also among the total of nine songwriters joining the Hall of Fame this year. Estimates put Taylor Swift&#39;s worldwide sales at over 250 million album-equivalents. Her most recent tour in 2023 and 2024, titled &quot;The Eras Tour,&quot; brought in a record sum of around two billion dollars. She is also the female artist with the most songs ever to reach the top 10 list compiled by Billboard, the leading US music magazine. Swift is omnipresent in the media. After unveiling a country track for the soundtrack of the film &quot;Toy Story 5,&quot; she was at Madison Square Garden on Wednesday for a game of the NBA Finals.

Entertainment

Taylor Swift becomes the youngest woman ever to be inducted into the prestigious Songwriters Hall of Fame, another milestone in the 36-year-old US pop star's record-breaking career.

Taylor Swift becomes youngest woman in Songwriters Hall of Fame

This live blog follows the latest developments across the Middle East crisis, including regional diplomacy, maritime security, ceasefire negotiations, and economic fallout.<hr>Catch up: Yesterday&rsquo;s top developments<ul style="list-style-type: square;"><li style="font-size: 14px; color: rgb(0, 0, 0);">Iran has not made a final decision on the deal: FM spokesperson</li><li style="font-size: 14px; color: rgb(0, 0, 0);">&lsquo;We&#39;ll probably have a signing in Europe,&rsquo; says Trump on Iran war</li><li style="color: rgb(0, 0, 0);">Islamabad backs diplomacy, dialogue</li><li style="font-size: 14px; color: rgb(0, 0, 0);">Three Indian sailors killed aboard ship hit by US off Oman</li><li style="font-size: 14px; color: rgb(0, 0, 0);">Kremlin calls on US, Iran to &#39;return to negotiating table&#39;</li></ul><hr> Egypt urges US, Iran to seize &#39;available opportunity&#39; for deal after Trump cancels strikesPublished: June 12, 2026 | 03:49 GMT | by AFP Egypt urged the United States and Iran to seize what it called an &quot;available opportunity&quot; for a deal to end the war, after President Donald Trump withdrew his threat to carry out further strikes on Tehran. Cairo&#39;s foreign ministry said in a statement late Thursday it hoped &quot;the available opportunity will be seized to reach a deal on the various outstanding issues and to prepare the atmosphere for reaching an end to the war and beginning a new phase of regional stability&quot;. <hr> Trump says &lsquo;we ended the war with Iran today&rsquo;Published: June 12, 2026 | 02:45 GMT | by Web Desk US President Donald Trump, during a tele-rally in support of Senate candidate Barry Moore, claimed that the war is now over, according to local media outlets. &ldquo;I don&rsquo;t know if you heard, but we ended the war with Iran today, and they have agreed never to have a nuclear weapon, something that we, we insisted on,&rdquo; Trump said in the audio clip. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page;"><br style="box-sizing: border-box; color: rgb(65, 65, 65); font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Japan, S. Korea markets jump after Trump cancels Iran strikesPublished: June 12, 2026 | 01:59 GMT | by AFP Japan&#39;s Nikkei share index soared more than three percent Friday after US President Donald Trump withdrew his threat of further strikes against Iran and said a deal to end the war could be signed in coming days. At around 0015 GMT the Nikkei 225 was up 3.5 percent, while South Korea&#39;s benchmark Kospi index jumped 7.59 percent. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page;"><br style="box-sizing: border-box; color: rgb(65, 65, 65); font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Iran&rsquo;s FM spokesman condemns US attacks on Indian vesselsPublished: June 11, 2026 | 23:40 GMT | by Web Desk Iran&rsquo;s Foreign Ministry Spokesman&nbsp;Esmaeil Baqaei&nbsp;condemned the US attacks on Indian commercial vessels, which killed at least three Indian nationals. In a post on X, he said that these attacks &quot;stand as clear evidence of America&rsquo;s ongoing policy of armed robbery and State piracy.&quot; <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page;"><br style="box-sizing: border-box; color: rgb(65, 65, 65); font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Iran has not made a final decision on the deal: FM spokespersonPublished: June 11, 2026 | 21:55 GMT | by Web Desk Iran&rsquo;s Foreign Ministry Spokesperson Esmaeil Baqaei said Iran has not made a final decision about a deal, according to Iran&rsquo;s official news agency&nbsp;IRNA. &quot;Once the relevant authorities reach a conclusion on the details of the draft text of an agreement, Iran&rsquo;s government will make a formal announcement,&quot; he said. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page;"> &lsquo;We&#39;ll probably have a signing in Europe,&rsquo; says Trump on Iran warPublished: June 11, 2026 | 20:05 GMT | by Web Desk US President Donald Trump on Thursday said a deal to end the Middle East war was nearing completion, describing it as a &ldquo;great settlement&rdquo; and indicating that a formal signing could take place in Europe within days once the remaining documents are finalized. &ldquo;We just made a great settlement of the war with Iran,&rdquo; Trump told reporters in the Oval Office.&nbsp; &ldquo;Subject to finalization of documents, which should get done over the next few days, we&#39;ll probably have a signing, maybe in Europe.&rdquo;&nbsp; He added that the agreement would ensure &ldquo;Iran will never have a nuclear weapon,&rdquo; calling it the central objective of months of negotiations and conflict. Trump also said he believed Iran&#39;s Supreme Leader Ayatollah Mojtaba Khamenei had approved the proposed arrangement.&nbsp; Asked whether Khamenei had personally given the green light, Trump replied: &ldquo;I understand the answer is yes.&rdquo; He described the agreement as &ldquo;a very strong memorandum of understanding.&rdquo; The US president said he had spoken with leaders from across the region, including Israel, Qatar, the United Arab Emirates, Saudi Arabia, Bahrain and Kuwait, as diplomatic efforts intensified ahead of a possible signing ceremony.&nbsp; Trump said the Strait of Hormuz would reopen once the agreement is finalized and argued that the deal had already boosted market confidence, pointing to rising stock markets and falling oil prices. Trump also singled out Pakistan for its role in the diplomatic process, praising both Prime Minister Shehbaz Sharif and Field Marshal Asim Munir.&nbsp; &ldquo;Pakistan was fantastic,&rdquo; he said. Referring to Munir, Trump added: &ldquo;He&#39;s a great, great general. He&#39;s so great that he&#39;s actually a field marshal.&rdquo;&nbsp; Pakistan has played a central mediation role in recent months, hosting talks and maintaining engagement with Washington, Tehran and regional partners in support of a negotiated settlement. <hr style="box-sizing: border-box; height: 0px; overflow: visible; clear: both; user-select: none; break-after: page;"><br style="box-sizing: border-box; color: rgb(65, 65, 65); font-family: sans-serif; font-size: 14px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Read our June 11 live blog for earlier developments&nbsp;<a href="https://www.pakistantv.com/article/middle-east-june-11-2026" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">here</a>

Middle East

Americas

Says a 'great settlement' with Iran has been reached and approved by Iran's Supreme Leader; Trump praises Pakistan for a 'fantastic role' in mediation, calling Field Marshal Asim Munir a 'great general'; Iran's foreign ministry spokesperson denies that any final decision on a deal with the US has been made.

Trump says Iran deal nearing signing, praises Pakistan's role

ISLAMABAD: Pakistan on Thursday rejected any attempt to draw a &ldquo;false equivalence&rdquo; between the situation in Indian Illegally Occupied Jammu and Kashmir (IIOJK) and matters relating to Azad Jammu and Kashmir (AJK), while also raising concerns over India&rsquo;s expanding strategic capabilities. Speaking at the weekly media briefing in Islamabad, Foreign Office Spokesperson Tahir Andrabi said Pakistan was addressing issues in Azad Jammu and Kashmir within a &ldquo;democratic and constitutional framework&rdquo; and rejected recent remarks by the Indian leadership and its foreign affairs office. &ldquo;Any attempt to conflate the two is misleading and does not withstand objective scrutiny,&rdquo; Andrabi said. Responding to questions regarding Indian statements on AJK, the spokesperson said Pakistan rejected India&#39;s remarks &ldquo;in their entirety.&rdquo; &ldquo;It&rsquo;s untenable for a state like India, which has consistently denied the people of Jammu and Kashmir their right to self-determination, to claim concerns over the rights of Kashmiris,&rdquo; he said. The remarks come amid continued tensions between Pakistan and India over the disputed Jammu and Kashmir region, a longstanding issue between the two nuclear-armed neighbours.&nbsp; Pakistan maintains that the final status of Jammu and Kashmir should be determined in accordance with relevant United Nations Security Council resolutions and the aspirations of the Kashmiri people. The spokesperson said India&rsquo;s statements appeared aimed at diverting attention from the &ldquo;unresolved status of Jammu and Kashmir&rdquo; and what he described as its &ldquo;abysmal record&rdquo; in IIOJK. &ldquo;We also reject any insinuation of a false equivalence between the situation in Indian Illegally Occupied Jammu and Kashmir and matters relating to Azad Jammu and Kashmir,&rdquo; Andrabi said. &ldquo;Indian Illegally Occupied Jammu and Kashmir is an illegally annexed, internationally recognized disputed territory whose people have suffered systemic abuses under draconian laws and have been denied their rights, including the right to self-determination, as affirmed by the relevant UN Security Council resolutions and as promised by the Indian founding fathers to the Kashmiri people,&rdquo; he added. Concerns over India&#39;s strategic capabilitiesThe Foreign Office also commented on a recent Stockholm International Peace Research Institute (SIPRI) report suggesting India may have altered aspects of its traditional nuclear posture by reportedly deploying nuclear warheads during peacetime alongside developments in missile systems. Andrabi said Pakistan did not wish to endorse SIPRI&rsquo;s methodology but noted that the findings were &ldquo;not surprising.&rdquo; &ldquo;We do not wish to endorse or lend credence to SIPRI&rsquo;s methodology. Its findings, nevertheless, are &lsquo;not surprising,&rsquo;&rdquo; he said, adding that Pakistan had consistently raised concerns regarding India&rsquo;s continued &ldquo;vertical proliferation.&rdquo; The spokesperson said open-source assessments might not fully reflect the actual scale of India&rsquo;s nuclear arsenal. &ldquo;We also believe that open-source estimates, such as SIPRI&rsquo;s, may not fully reflect the actual scale of India&rsquo;s nuclear arsenal, which may actually be higher than the existing estimates,&rdquo; he said. According to Andrabi, Pakistan remained &ldquo;cognizant of developments in India&rsquo;s strategic capabilities,&rdquo; including the canisterization of missile systems, the expansion of sea-based nuclear-capable submarines and the pursuit of longer-range missile systems extending beyond India&rsquo;s immediate region. &ldquo;These developments enhance operational readiness, complicate crisis stability, and carry implications that extend beyond South Asia, with grave consequences for international peace and security,&rdquo; he said. Reiterating Pakistan&rsquo;s position, Andrabi said the country did not seek an arms race. &ldquo;Pakistan does not seek an arms race and matching warheads or arms and ammunition by number. However, we remain mindful of the evolving security environment. We will continue to take measures essential for preserving strategic stability and deterring India&rsquo;s aggression,&rdquo; he said. The spokesperson urged the international community to closely monitor developments related to India&rsquo;s strategic capabilities and their potential impact on regional and global security. He also called on countries supplying advanced technologies to India to consider the wider implications of emerging capabilities being incorporated into India&rsquo;s strategic posture. &ldquo;These developments threaten consequences far beyond South Asia into the wider world,&rdquo; Andrabi said.

Foreign Affairs

Pakistan also voices concern over India's evolving strategic capabilities, saying recent assessments reinforce longstanding fears about regional stability and urging the international community to closely monitor developments with wider security implications.

‘False equivalence’: Pakistan rejects Indian remarks on Kashmir

PARIS: A leather bag made from Tyrannosaurus rex cells failed to sell on Thursday, the Paris auction house Drouot said, commenting that bids were well below expected. Auctioneers Giquello had touted the &quot;one-of-a-kind&quot; piece to sell for more than $500,000 but bids barely broke the $150,000 mark, said the Drouot house where the sale took place. Unveiled in the spring in Amsterdam, the bag was created from traces of collagen from the femur of a T‑Rex found in the US state of Montana 25 years ago. &quot;In recent years, we&#39;ve developed techniques -- biotechnologies that allow us to instruct a cell culture to produce, so to speak, genuine T‑Rex skin in the laboratory,&quot; Iacopo Briano, a palaeontology expert associated with the sale, recently told AFP. He noted the material differs from vegan leather, which is mostly made from plastic. &quot;In this case, it&#39;s derived from a cell culture, so it&#39;s 100 percent skin. And at the same time, it comes from an animal that went extinct 67 million years ago!&quot; he said. With no precedent to go on, Alexandre Giquello, whose auction house is organising the sale, explained they had to &quot;come up with a price&quot; that would reflect both the amount of investment required to create the bag and its rarity. Giquello estimated the value at between 300,000 and 500,000 euros ($346,000 to $576,000).

Wildlife

A handbag created from lab-grown material derived from Tyrannosaurus rex collagen fails to sell at auction, attracting bids far below expectations despite its rarity and estimated value of up to $576,000.

First leather bag made from T-Rex cells fails to sell at Paris auction

ISLAMABAD: Pakistan on Thursday held funeral prayers for military personnel martyred in an army helicopter crash near Muzaffarabad, with Prime Minister Shehbaz Sharif and senior civilian and military leaders attending the ceremony, according to the military&#39;s media wing. The funeral prayer was offered at Chaklala Garrison in Rawalpindi for the martyrs of the Mi-17 helicopter crash, the Inter-Services Public Relations (ISPR) said. PM Sharif, Chief of Army Staff and Chief of Defense Staff Field Marshal Syed Asim Munir, Foreign Minister Ishaq Dar, Defense Minister Khawaja Asif, Information Minister Attaullah Tarar, senior civil and military officials, relatives of the martyrs, and members of the public attended the service. The crash occurred Wednesday near Muzaffarabad, the capital of Azad Jammu and Kashmir, during takeoff.&nbsp; The military said the helicopter went down because of a technical fault, and all personnel on board were martyred. A board of inquiry has been ordered to determine the exact cause of the accident. Earlier in the day, a separate funeral service for two Christian soldiers martyred in the crash was held at Christ Church in Rawalpindi and attended by political and military leaders. The ceremonies highlighted the participation of Pakistan&#39;s diverse communities in national service and remembrance. Addressing the gathering, PM Sharif said the martyrs&#39; &quot;devotion to duty, professionalism, and commitment to safeguarding the motherland will remain a source of inspiration for future generations.&quot; He said the sacrifices made by Pakistan&#39;s armed forces for &quot;peace, security, and national sovereignty can never be forgotten,&quot; and reaffirmed the nation&#39;s support for the families of the martyrs. The ISPR said the martyrs would be laid to rest in their respective hometowns with full military honors. Separately, President Asif Ali Zardari and PM Sharif expressed grief over the crash and offered condolences to the families of the martyrs. &quot;The entire nation pays tribute to the great sacrifice of the martyrs and shares the grief of the families,&quot; Zardari said in a statement. Interior Minister Mohsin Naqvi also expressed condolences, extending sympathies to the families of the personnel martyred in the accident. The military leadership, including Field Marshal Munir and all ranks of the Pakistan Army, expressed deep sorrow over the loss of life and conveyed condolences to the bereaved families.

Security

Prime Minister Shehbaz Sharif, senior military commanders and government officials attended funeral prayers in Rawalpindi for army aviation personnel lost in the Mi-17 accident, while separate services were held for two Christian soldiers before burial with full military honors.

Pakistan honors helicopter crash martyrs at Rawalpindi funeral service

NEW YORK: Elon Musk&#39;s SpaceX on Thursday confirmed it will begin trading on the Nasdaq exchange Friday in the biggest initial public offering in history, a blockbuster market debut that could propel the entrepreneur to trillionaire status. In a filing with the US markets regulator, the company priced more than 555 million shares at $135 each, placing SpaceX among Wall Street&#39;s most elite companies with a valuation of just under $1.8 trillion. The offering will raise a record $75 billion, easily outranking Saudi Aramco&#39;s $29.4 billion debut in 2019, until now the biggest ever. Underwriters hold an option to buy nearly 83 million additional shares, which would push the total above $86 billion if exercised in full. Goldman Sachs, Morgan Stanley and Bank of America led a syndicate of more than 20 banks on the deal. The space and rocket company, co-founded by Musk in 2002, will trade under the ticker symbol &quot;SPCX,&quot; with a parallel listing on Nasdaq Texas. All eyes will be on how Wall Street absorbs the offering, which could send tremors across global markets. As is traditional for high-profile debuts, executives are expected to ring the opening bell on Friday to mark the start of the session -- in this case at New York&#39;s Times Square, home of the Nasdaq. SpaceX will be the first out of the gates among the tech and AI giants eyeing public markets, with OpenAI and Anthropic expected to follow -- both having recently filed with regulators for their own market debuts. The IPO is Musk&#39;s biggest financial gamble yet, with his xAI company and the X social media platform (formerly Twitter) also included in the offering after the multi-billionaire folded them into the company earlier this year. The offering was more than four times oversubscribed by major banks and financial institutions, according to Bloomberg, with interest from everyday investors reported to also be high. More than 20 percent of the shares will be reserved for these retail investors, a far greater proportion than is typically allocated in IPOs, giving Musk&#39;s legions of fans a chance to buy a slice of the company. Data centers in spaceThe success of the IPO rests squarely on investors&#39; faith in Musk as a visionary entrepreneur. The tech multi-billionaire will serve as chief executive, chief technology officer and board chairman of the newly traded company. The IPO is expected to mint thousands of new millionaires and many billionaires, with former and current employees -- and a long list of investors -- from the company&#39;s near quarter-century history looking to cash in. The financials of the company are giving some on Wall Street pause, as the valuation largely depends on Musk delivering on promises worthy of science fiction, including putting data centers in space as well as people on Mars using as yet unproven technology. While the company is growing fast -- revenue hit $18.7 billion in 2025 -- it is also losing money, producing a net loss of $4.9 billion. In an extraordinary prediction, SpaceX&#39;s filing claims it can pull in over $28.5 trillion in revenue from its various markets. Musk&#39;s fortune on Thursday stood at $782 billion according to the Forbes list of the world&#39;s richest people, nearing three times the wealth of number two, Google co-founder Larry Page. A successful IPO could make him the first trillionaire in history on Friday.

Artificial Intelligence

SpaceX confirms a record $75 billion IPO, valuing the company at nearly $1.8 trillion, as investors back Elon Musk’s space, AI and long-term technology ambitions worldwide for growth.

SpaceX to make historic IPO that could make Musk a trillionaire

LONDON: British Defense Secretary John Healey sensationally quit on Thursday, accusing beleaguered Prime Minister Keir Starmer and the finance ministry of failing to commit enough money to protect the country. His shock resignation weakens Starmer&#39;s authority further at a precarious moment for the embattled Labour leader, a week before a by-election that could prompt a bid to replace him. In stinging criticism, Healey warned that Starmer&#39;s long-awaited Defense Investment Plan (DIP) for funding over the next decade&mdash;which the premier has yet to publish&mdash;risked making Britain &quot;less safe.&quot; &quot;You have been unable, and the Treasury has been unwilling, to commit the resources that the nation needs to defend the country at this time of rising threats,&quot; Healey wrote in a resignation letter to Starmer posted on his X account. &quot;After explaining to you that I would not be able to accept a DIP settlement that does not give our Forces the resources they need, I am now left with no other option than to submit my resignation.&quot; Healey&#39;s sudden departure comes after months of delays to the defense plan, which Starmer has insisted he will publish before a NATO summit in Turkey beginning on July 7. Starmer&#39;s centre-left government, elected in July 2024 following 14 years of Conservative rule, has pledged to ramp up defense spending, with priority given to NATO commitments. The rise comes amid threats from Russia and as US President Donald Trump repeatedly urges NATO allies to spend more and become less reliant on Washington for security. &#39;Grave moment&#39;Starmer has vowed to raise defense spending to 2.5 percent of gross domestic product from next year, increasing to three percent if Labour wins the next general election, expected in 2029, before reaching 3.5 percent in 2035. British media has for weeks been reporting on behind-the-scenes battles within the government over the DIP settlement. In his resignation letter, Healey said he was first given full sight of DIP on Monday, and it sees defense spending rise to only 2.68 percent of GDP in 2030. A source close to the former defense secretary told AFP the deal offered by the Treasury did not put a date on the three percent commitment. The plan &quot;falls well short of what is required for defense and the country at this dangerous time,&quot; Healey wrote. &quot;Without a DIP that meets the moment in this way, I am being forced to make decisions that would reduce the readiness of our forces and increase the risk to personnel on operations, and could make the country less safe.&quot; Tan Dhesi, chair of parliament&#39;s defence committee, said the government must take Healey&#39;s warning &quot;with the utmost seriousness&quot;. &quot;That a defence secretary of his integrity and commitment has felt compelled to resign in response to the inadequacy of the proposed defence settlement is a grave moment,&quot; the Labour MP said in a statement. Starmer faces political peril in next Thursday&#39;s contest when Greater Manchester mayor Andy Burnham stands for the Makerfield parliamentary seat. Both men have said they would participate in any Labour leadership race, although none has yet been triggered. Wes Streeting quit as health secretary last month following disastrous local and regional election results for Labour and has also said he would run in any future contest. Healey, 66, has been previously talked about as another potential contender, but there was no immediate suggestion that his resignation is linked to the leadership speculation. It &quot;underlines that Starmer has become a lame duck prime minister who cannot get decisions through his own government,&quot; Patrick Diamond, a politics professor at Queen Mary University of London, told AFP. The investment plan, originally due to be published in late 2025, has repeatedly been pushed back, to the frustration of industry and others. Healey&#39;s resignation &quot;creates a sequence of political headaches in terms of a replacement, and trying to get the defence investment plan published,&quot; said Ed Arnold, senior associate fellow at the RUSI think-tank. A government source insisted that Starmer had made Britain &quot;safer,&quot; adding the defense spending proposals &quot;will deliver the capability our armed forces need.&quot;

Europe

British Defense Secretary John Healey sensationally quit on Thursday, accusing beleaguered Prime Minister Keir Starmer and the finance ministry of failing to commit enough money to protect the country

UK defense minister quits with stinging rebuke of PM Starmer

JERUSALEM: Radio France Internationale (RFI) condemned Thursday Israel&#39;s entry ban on French reporter Alice Froussard, who freelances for the station and other outlets, as &quot;an obstacle to press freedom&quot;. &quot;Israeli authorities have not provided any justification to RFI for this decision,&quot; the broadcaster said in a statement. &quot;RFI&#39;s management offers its full support to Alice Froussard and protests against this expulsion, which constitutes an obstacle to press freedom and comes at a time when journalists are facing increasing difficulties in covering current events in the region,&quot; it added.

Calls it an as "an obstacle to press freedom"