Day: May 29, 2025

Zuckerberg touts Meta AI’s billion-user milestone

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SAN FRANCISCO: Mark Zuckerberg, the CEO of Meta, praised the internet company’s generative artificial intelligence (Gen AI) assistant, telling shareholders on Wednesday that a billion people use it every month across all of its platforms. As the social media giant competes with Google, Microsoft, OpenAI, and others to become a leader in Gen AI, Zuckerberg once again highlighted the milestone during Meta’s annual shareholder meeting. It was not clear how much Meta AI use involved people seeking out the chatbot versus passive users of Meta AI, as it is built…

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US vows to ‘aggressively’ oust Chinese students

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WASHINGTON: President Donald Trump’s administration on Wednesday vowed to “aggressively” revoke visas of Chinese students, one of the largest sources of revenue for American universities, in his latest broadside against US higher education. The announcement by Secretary of State Marco Rubio marked a show of defiance after China criticised his decision a day earlier to suspend visa appointments for students worldwide at least temporarily. The Trump administration has already sought to end permission for all international students at Harvard University, which has rebuffed pressure from the president related to student…

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US urges India to exercise restraint amid regional tensions

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WASHINGTON: The United States has once again looked to restrain India’s aggressive posturing following recent provocations against Pakistan, with diplomatic sources saying that the Trump administration urged New Delhi to uphold regional peace and stability during high-level talks this week. The development came as Indian Foreign Secretary Vikram Misri called on US Deputy Secretary of State Christopher Landau in Washington. According to sources, the US conveyed in a blunt manner to India, making it clear that regional peace and stability are to be maintained. India struck a blow to regional…

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SECP represents Pakistan at Tokyo life insurance seminar

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TOKYO: Securities and Exchange Commission of Pakistan (SECP) Commissioner Insurance Mujtaba Ahmad Lodhi led Pakistan delegation to represent the country at the Oriental Life Insurance Seminar in Tokyo, Japan. The event, organised by the Oriental Life Insurance Cultural Development Center (OLICD), brought together regional stakeholders to deliberate on emerging trends, challenges, and opportunities within the life insurance sector. Lodhi appreciated OLICD President Yonekura Tsukasa for his efforts in organising the seminar. The seminar, hosted by the International Insurance Society (IIS) in collaboration with Japan’s Financial Services Agency (FSA), revolved around…

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PSX rises amid expectations of fiscal discipline, IMF support

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Investor sentiment lifted the equity market on Thursday, posting strong gains amid optimism over upcoming budget measures and adherence to (International Monetary Fund’s (IMF) fiscal benchmarks. “There is overall optimism on IMF’s dollar being transferred, budget to remain in line with IMF targets ensuring fiscal discipline and continuing growth story rally,” said AAH Soomro, an independent investment and economic analyst The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed at 118,971.40 points, up 638.50 points, or 0.54%, from the previous close of 118,332.90. During the session, the index climbed to…

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Federal budget date set for June 10, confirms finance secretary

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ISLAMABAD: The federal budget is set to be presented on June 10, according to Finance Secretary Imdadullah Bosal in an informal chat with journalists. He added that the date of the National Economic Council (NEC) meeting may be revised, and that the budget for the new fiscal year is being finalised in consultation with the International Monetary Fund (IMF). Bosal also said Pakistan and the IMF will resume virtual talks today, where relief measures for the salaried class and industrial sector will be discussed. He noted that the date for…

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Pakistan enters crypto race with govt-led Bitcoin reserve

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At Bitcoin Vegas 2025, Pakistan’s Minister for Crypto and Blockchain, Bilal Bin Saqib, made a groundbreaking declaration by introducing the nation’s first state-backed Strategic Bitcoin Reserve — a move that signals a transformative shift in Pakistan’s digital and economic trajectory. Addressing a global audience that included US Vice President JD Vance, Eric Trump, and Donald Trump Jr, Bilal Bin Saqib positioned Pakistan as a forward-looking digital hub, powered by its tech-savvy youth and strengthened by a shift toward decentralised finance. “I’m not just here as a minister,” he said during…

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Imran says no to give-and-take deal: PTI leader

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RAWALPINDI: PTI founding chairman Imran Khan has dismissed the possibility of any personal deal or “give-and-take” arrangement, emphasising that he is only willing to engage in dialogue if it serves the country’s broader interest. This was stated by Senator Ali Zafar following his recent meeting with the incarcerated PTI leader in Adiala Jail in Rawalpindi. The 71-year-old cricketer-turned-politician has been behind bars since August 2023 after he was booked in multiple cases ranging from corruption to terrorism since his ouster from power via the opposition’s no-trust motion in April 2022.…

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Telegram to partner with Musk’s xAI to bring Grok chatbot to its users

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Elon Musk’s AI company, xAI, is teaming up with Telegram to integrate its Grok chatbot into the messaging platform, Reuters reported. As part of the deal, xAI will pay Telegram $300 million in a combination of cash and stock, targeting the app’s user base of over one billion to strengthen its position in the fast-growing AI sector. According to Telegram founder Pavel Durov, the one-year agreement also includes a revenue-sharing component: Telegram will receive 50% of all subscription sales generated through the app. Durov emphasised that xAI will only access data that…

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China pursues space ambitions with launch of Tianwen-2

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BEIJING: China has taken another big step in its space journey by launching the Tianwen-2 probe. The spacecraft will travel to a nearby asteroid to collect rock samples and bring them back to Earth. This is the country’s first mission to an asteroid, and it shows China’s growing plans for space exploration. The launch is part of China’s long-term goal to become a major space power. Beijing has ploughed billions of pounds into its space programme in recent years in an effort to achieve what President Xi Jinping describes as…

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