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Pakistan seeks economic lifeline with fresh China loans

Pakistan expects to obtain fresh Chinese loans worth $1-2 billion to help it avert a balance of payments crisis, Pakistani government sources said, in another sign of Islamabad’s growing reliance on Beijing for financial support. Lending to Pakistan by China and its banks is on track to hit $5 billion in the fiscal year ending…

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Pakistan doubles size of currency swap agreement with China

China has increased the size of a currency swap agreement with Pakistan by 10 billion yuan ($1.57 billion), two Pakistani central bank sources said, with cash earmarked for boosting fast-depleting foreign currency reserves. Two State Bank of Pakistan (SBP) sources told Reuters that the currency swap agreement between SBP and China’s central bank has been…

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China, Pakistan reject ‘baseless’ Indian paper report about Hafiz Saeed

The Chinese Foreign Ministry has rejected a report that appeared in an Indian newspaper about Beijing’s suggestion to relocate JuD chief Hafiz Saeed to a West Asian country. On May 23, The Hindu had reported that Chinese president Xi Jinping had asked Pakistan to relocate Hafiz Saeed to a West Asian country. The report said…

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China digging gold near disputed border with India

China has reportedly started a large-scale mining operation near its border along Arunachal Pradesh in India, potentially increasing the friction between the two Asian giants, reported South China Morning Post. According to the report, a huge trove of gold, silver and other precious minerals, valued at nearly US$60 billion by Chinese state geologists, has been…

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China relieved U.S. trade war is ‘on hold’; U.S. business ambivalent

China on Monday praised a significant dialing back of trade tension with the United States, with the government saying agreement was in the interests of both countries while state media trumpeted what it saw as China’s refusal to surrender. The cooling of tension elicited mixed reactions from U.S. business leaders dealing with China, with some…

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China satellite heralds first mission to dark side of Moon

China launched on Monday a relay satellite that will allow a rover to communicate with the Earth from the far side of the Moon during an unprecedented mission later this year. The Queqiao (“Magpie Bridge”) satellite was blasted into space from the southwestern Xichang launch centre in the pre-dawn hours, according to the China National…

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US, China agree to abandon trade war: Beijing

Washington and Beijing have agreed to abandon any trade war and back off from imposing tariffs on each other, Chinese state media reported Sunday.                  The announcement came after high-level talks in the US capital and followed months of tensions over what President Donald Trump has blasted as an unfair commercial relationship between the two economic…

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China does not want to see escalation in Sino-U.S. trade tension

China does not want to see escalation in Sino-U.S. trade tensions, its commerce ministry said on Thursday, expressing hope that the two sides could minimize conflict during talks being held in the United States. China hopes the U.S. will take action as soon as possible on the case of Chinese technology company ZTE and resolve…

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Global demand for air conditioning to triple by 2050: report

The worldwide demand for air conditioning is expected to triple over the next 30 years, making the pursuit of energy-efficient cooling systems a top priority, the International Energy Agency said Tuesday. Some 1.6 billion buildings worldwide have AC today, a number that will grow to 5.6 billion by 2050, “which amounts to 10 new ACs…

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China says will welcome if Afghanistan wants to join CPEC

China will welcome Afghanistan to become part of CPEC as the economic corridor will help bring about peace in Afghanistan, said the Chinese ambassador in Pakistan. Yao Jing, China’s ambassador in Pakistan, told SAMAA that it will be a positive move. “Economic cooperation will also bring about peace in Afghanistan,” he said. “Reconciliatory process is…

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General Bajwa in Forbes’ list of most powerful people

Pakistan’s Army Chief General Qamar Javed Bajwa has been named in Forbes list of most powerful people. General Bajwa was ranked 68 among 75 people. “Two years into his tenure as the head of the world’s sixth largest Army, Bajwa has established himself as a mediator and proponent of democracy,” Forbes said. “Javed Bajwa joins…

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China’s Alibaba Group buys Pakistani e-commerce website Daraz

China’s Alibaba group has bought Rocket Internet’s South Asian e-commerce platform Daraz, confirmed Rocket Internet on Tuesday.  Daraz is a popular e-commerce website that sells everything from items related to fashion to electronics. Daraz sales have over the years become popular with Pakistanis so much so that items have sold out within hours. The deal…

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China jails ex-top communist official for life term over graft

A former Chinese Communist Party official who was once tipped for a top leadership post was sentenced to life in prison for bribery on Tuesday, the latest senior cadre to fall in President Xi Jinping’s sweeping anti-corruption crusade. Sun Zhengcai, a former Politburo member and party chief of the southwestern mega-city of Chongqing, was found…

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Oil prices dip in Asian markets ahead of Trump decision on Iran nuclear deal

Oil prices slipped in Asia on Tuesday morning from three-and-a-half-year highs as investors cautiously await Donald Trump’s Iran nuclear decision later in the day. The US president announced in a tweet that he would make an announcement at 1800 GMT on whether or not to tear up the agreement with Tehran and reimpose painful sanctions…

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US condemns China for ‘Orwellian nonsense’ over airline websites

The White House on Saturday sharply criticized China’s efforts to force foreign airlines to change how they refer to Taiwan, Hong Kong and Macau, labeling China’s latest effort to police language describing the politically sensitive territories as “Orwellian nonsense.” Amid an escalating fight over China’s trade surplus with the United States, the White House said…

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Critical US-China trade talks end in Beijing

China and the US ended the second day of high-stakes trade talks Friday with “big differences”, Beijing said, leaving the world’s two largest economies on the brink of a trade war that could have knock-on effects on the global economy. The talks were aimed at forestalling momentum towards the looming conflict, with both sides prepared…

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China, India have failed to realize that they need to co-exist, says expert

An article published on an international strategic analysis on South Asia stated that China and India have failed to realize that they cannot come to terms over the fact that they have to co-exist and “a zero-sum perception of each other’s role will inevitably lead to an escalation of hostility”. Yun Sun, an expert in…

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Taliban fighters seize district in northern Afghanistan

Taliban fighters seized a district in Afghanistan’s remote northern province of Badakhshan after several days of fierce fighting, officials said on Friday, as the insurgents pushed forward their annual spring offensive launched last month. Fighting across Afghanistan has picked up in recent weeks with the return of warmer weather, putting government forces under pressure in…

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Stuck in second gear: Chinese fans ponder life without ‘Friends’

No one told them it was gonna be this way. Millions of Chinese “Friends” fans are heartbroken after a video site pulled the US sitcom, beloved by millennials in China for its endearing young characters and as an English conversation resource. Top portal Sohu had broadcast reruns of Monica, Rachel, Chandler and the gang since…

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China’s Xi, India’s Modi seek new relationship after summit

The leaders of China and India agreed to open a new chapter in their relationship on Saturday after an informal summit, just months after a dispute over a stretch of their high-altitude Himalayan border rekindled fears of war. Indian Prime Minister Narendra Modi spent around 24 hours in the central Chinese city of Wuhan for…

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Knife attacker kills nine children in China

BEIJING: A knife-wielding man with a grudge killed nine middle school children and injured at least 10 others as they returned home in northern China on Friday, authorities said, in one of the deadliest such rampages in the country in recent years. The 28-year-old suspect was detained and the injured children were receiving hospital treatment,…

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