Space technology: PM expresses his desire to enhance ties with China
The prime minister made the remarks during a meeting with a delegation of Chinese aerospace firm Galaxy Space led by its chairman Xu Ming.
He said that Pakistan hopes to expand joint efforts with China in areas such as satellite development, telecommunications, and satellite internet, adding the country places 'great importance' on advancing its space technology capabilities.
Tiangong: Pakistan to send first astronaut to China's space station
Members of the visiting delegation expressed a strong interest in investing in Pakistan's growing space sector and exploring collaborative projects with national space institutions and private telecom operators.
They also held meetings with Ministry of Information Technology and Telecommunication officials, as well as Space and Upper Atmosphere Research Commission (SUPARCO) – Pakistan's national space agency – which they described as 'very productive'.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
3 hours ago
- Business Recorder
Oil eases as Trump's 50-day deadline for Russia reduces supply fears
NEW YORK: Oil prices edged lower on Tuesday after U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased concerns about any immediate supply disruption. Brent crude futures were down 15 cents at $69.06 a barrel by 10:54 a.m.. U.S. West Texas Intermediate crude futures were down 30 cents at $66.68. 'The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days,' said UBS commodities analyst Giovanni Staunovo. 'Those fears about an imminent additional tightness in the market have dissipated. That's the main story.' Oil prices had climbed on the potential sanctions but later gave up gains as the 50-day deadline raised hopes that sanctions could be avoided. Oil steadies near three-week high on signs of tighter supply In the event the proposed sanctions are implemented, 'it would drastically change the outlook for the oil market,' analysts at ING said in a note on Tuesday. 'China, India and Turkey are the largest buyers of Russian crude oil. They would need to weigh the benefits of buying discounted Russian crude oil against the cost of their exports to the U.S.,' the ING note said. Trump announced new weapons for Ukraine on Monday and had said on Saturday that he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries. Tariffs raise the risk of slower economic growth, which could reduce global fuel demand and drag oil prices lower. China's economy slowed in the second quarter, data showed on Tuesday, with markets bracing for a weaker second half as exports lose momentum, prices continue to fall and consumer confidence remains low. Tony Sycamore, an analyst at IG, said economic growth in China came in above consensus, largely because of strong fiscal support and the front-loading of production and exports to beat U.S. tariffs. 'The Chinese economic data was supportive overnight,' said Phil Flynn, senior analyst with Price Futures Group. Elsewhere, oil demand is set to remain 'very strong' through the third quarter, keeping the market balanced in the near term, the Organization of the Petroleum Exporting Countries' secretary general said, according to a Russian media report.
Business Recorder
6 hours ago
- Business Recorder
Oil holds steady as Trump's 50-day deadline for Russia eases supply fears
Oil prices were little changed on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Brent crude futures were up a marginal 3 cents at $69.24 a barrel by 1313 GMT. U.S. West Texas Intermediate crude futures were down 7 cents at $66.90. 'The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days,' said UBS commodities analyst Giovanni Staunovo. 'Those fears about an imminent additional tightness in the market have dissipated. That's the main story.' Oil prices had climbed on the potential sanctions but later gave up gains as the 50-day deadline raised hopes that sanctions could be avoided. If Trump does follow through and the proposed sanctions are implemented, 'it would drastically change the outlook for the oil market', analysts at ING said in a note on Tuesday. Oil steadies near three-week high on signs of tighter supply 'China, India and Turkey are the largest buyers of Russian crude oil. They would need to weigh the benefits of buying discounted Russian crude oil against the cost of their exports to the U.S.,' the ING note said. Trump announced new weapons for Ukraine on Monday and had said on Saturday that he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries. Tariffs raise the risk of slower economic growth, which could reduce global fuel demand and drag oil prices lower. China's economy slowed in the second quarter, data showed on Tuesday, with markets bracing for a weaker second half as exports lose momentum, prices continue to fall and consumer confidence remains low. Tony Sycamore, an analyst at IG, said economic growth in China came in above consensus, largely because of strong fiscal support and the front-loading of production and exports to beat U.S. tariffs. 'Today's tepid Chinese data has direct implications for commodities including iron ore and crude oil,' he said. Elsewhere, oil demand is set to remain 'very strong' through the third quarter, keeping the market balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report.
Business Recorder
8 hours ago
- Business Recorder
Pakistan, Russia agree to enhance ties in trade, energy, defence sectors
Pakistan and Russia have agreed to further enhance cooperation in trade, energy, agriculture and defence sectors. This understanding came at a meeting between Deputy Prime Minister and Foreign Minister Ishaq Dar and Russian Foreign Minister Sergei Lavrov on the sidelines of the SCO Council of Foreign Ministers meeting in Tianjin, China. During the meeting, both the dignitaries expressed satisfaction over the positive trajectory of bilateral ties, DPM's Office said. On this occasion, the foreign minister reiterated the invitation for FM Lavrov to visit Pakistan. FM Dar met Chinese President Xi Jinping as well at the Great Hall of the People in Beijing and conveyed him the warm greetings of the leadership, government and people of Pakistan. 'As iron-clad brothers and all-weather strategic cooperative partners, we remain committed to deepening Pak-China enduring friendship and advancing shared regional goals,' Dar wrote in a post on X. The meeting between the foreign minister and Chinese president was held on the sidelines of the Shanghai Cooperation Organization (SCO) Council of Foreign Ministers meeting. Meanwhile, Foreign Minister Dar also represented Pakistan at the joint call of the Foreign Ministers of the SCO Member States on President Xi. The Chinese president, welcoming the heads of delegations, underlined the salience of regional cooperation under the ambit of SCO, an organisation covering the Eurasian land mass and a large expanse of the world's population, Radio Pakistan reported. Senator Dar arrived in Beijing, China, on Monday to attend a three-day meeting of the SCO Council of Foreign Ministers being held in Tianjin, China. He is attending the event at the invitation of Foreign Minister of China Wang Yi.
