Jamie McGeever

The eye-watering surge in U.S. tech giant Oracle&#39;s share price on Wednesday added fuel to a fiery debate: is the U.S. artificial intelligence stock boom a bubble destined to burst?&nbsp;This is a question that has dogged Wall Street for months, as AI euphoria has helped the S&amp;P 500 and tech-heavy Nasdaq hit new highs seemingly every day, swatting away the chaos and uncertainty surrounding tariffs, Washington politics and Fed independence.&nbsp;But Wednesday felt different. It&#39;s not every day that one of the country&#39;s biggest tech companies sees its share price skyrocket by as much as 43%. Oracle is not a penny stock, startup or meme stock. A surge of this magnitude should make everyone reassess where markets are, and whether this boom is moving into unsustainable territory.&nbsp;Below are five charts that suggest what former Federal Reserve Chair Alan Greenspan termed &quot;irrational exuberance&quot; may be engulfing AI and tech.&nbsp;1. Oracle&#39;s soaring valuation&nbsp;Oracle, the cloud computing giant, saw its stock trade at nearly 50x estimated 12-month forward earnings on Wednesday, the highest since the dotcom crash when its forward PE topped 120. Its share price rose as much as 43% on the day, causing it to virtually double since June.&nbsp;Oracle did say it expects cloud revenue to exceed half a trillion dollars and announced four new multi-billion contracts, so some optimism is warranted. But should the company truly be worth twice as much as it was only three months ago?&nbsp;&nbsp;2. The Nvidia juggernautNvidia&#39;s share price has doubled since April, rising an eye-popping 300% in the last two years. The AI chip superpower is now the world&#39;s most valuable company with a market cap of $4.3 trillion, larger than every country&#39;s listed stock exchange apart from the US, China, Japan and India, according to Deutsche Bank.&nbsp;Sure, Nvidia continue to churn out cash, but just two customers made up 39% of its revenue in the last quarter. Is that sustainable?&nbsp;&nbsp;3. Record-high concentrationThe combined weighting of the top 5 companies in the S&amp;P 500 is nearing 30%, higher than the &#39;Nifty Fifty&#39; in the late 1960s/early 1970s and much higher than tech companies in 2000 before the dotcom bust.&nbsp;This doesn&#39;t automatically mean we&#39;re in a bubble, but the market is in unchartered territory and heavily dependent on a handful of companies - all of them in one industry. History suggests this level of concentration rarely ends well.&nbsp;&nbsp;4. Lofty valuationsThe S&amp;P 500 tech sector is nearing its most expensive levels since 2002 when the dust from the dotcom bust was still settling. Of course, this can be sustained as long as the cash keeps rolling in.&nbsp;But the amount of AI-related capex needed to develop the industry &ndash; an estimated $6.7 trillion worldwide by 2030, according to McKinsey - means the amount of cash that will need to keep coming in is enormous. When the bar is that high, even sound companies might struggle to meet it.&nbsp;&nbsp;5. Stretched positioningBank of America&#39;s August fund manager survey showed that the most crowded trade in world markets currently is once again &quot;long Magnificent 7&quot;, according to 45% of those polled. A majority, 52%, say they see no AI bubble, suggesting this packed trade could get even more crowded before it unwinds.&nbsp;Investors have little incentive to go against this trade as long as it remains a winning one. But when a crowded trade reverses it can be sudden, and not everyone gets out the exit door in time. A lot of investors could lose a lot of money.&nbsp;&nbsp;- The opinions expressed here are those of the author, a columnist for Reuters

Articles

Oracle’s massive stock surge intensifies debate over whether the U.S. AI tech boom is a risky market bubble.

Oracle surge pours fuel on fiery AI bubble debate

Web Desk

ISLAMABAD: Former Pakistan Test cricketer Wazir Mohammad passed away on Monday at the age of 95, according to the Pakistan Cricket Board (PCB). According to ESPNcricinfo, Wazir was born in Junagadh in 1929 and was part of the legendary Mohammad cricketing family, which included his renowned brothers Hanif, Mushtaq, and Raees Mohammad. The right-handed batsman represented Pakistan in 20 Test matches between 1952 and 1959, establishing himself as a dependable batter during the formative years of the country&#39;s cricketing history. In a message shared on X (formerly Twitter), the PCB expressed its condolences, stating: &ldquo;One of the four Mohammad brothers to represent Pakistan in Test cricket, he featured in 20 matches for his country from 1952 to 1959.&rdquo; <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowtransparency="true" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=1977681950954389505&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=53a406ca41b8c9e2e6fd427513dda4a1afbbe613&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 921px; display: block; flex-grow: 1;" data-tweet-id="1977681950954389505"></iframe></div></div> PCB Chairman Mohsin Naqvi also paid tribute to Wazir Mohammad in an official statement, remembering him as both a talented cricketer and a gentleman. &ldquo;Wazir Mohammad was a good batsman and an extremely refined human being,&rdquo; Naqvi said, extending thoughts and prayers to the bereaved family.

Cricket

Former Pakistan Test cricketer Wazir Mohammad, a member of the legendary Mohammad family, passed away at the age of 95. He represented Pakistan in 20 Tests between 1952 and 1959.


Former Pakistan Test cricketer Wazir Mohammad passes away at 95

BEIRUT: Lebanese President Joseph Aoun called for negotiations with Israel on Monday, after US President Donald Trump brokered a ceasefire in Gaza. In October 2023, Iran-backed Hezbollah began launching rockets at Israel in support of Hamas in the Gaza war. Months of hostilities escalated into all-out war in September 2024, before a ceasefire was agreed two months later. Israel has continued to strike Lebanon, saying it is hitting Hezbollah targets, but according to the United Nations over 100 civilians have been killed since the truce. &quot;The Lebanese state has previously negotiated with Israel under American and United Nations auspices, resulting in an agreement to demarcate the maritime border... so what prevents the same thing from happening again to find solutions to the outstanding issues,&quot; Aoun said according to a presidency statement. &quot;Today, the general atmosphere is one of compromise, and it is necessary to negotiate,&quot; he added, specifying that &quot;the form of this negotiation will be determined in due time&quot;. The US-brokered ceasefire between Israel and Hamas went into effect on Friday. There are no formal ties between Israel and Lebanon. &quot;We cannot be outside the current path in the region, which is the path of crisis resolution,&quot; Aoun said, stating it was &quot;no longer possible to tolerate more war, destruction, killing, and displacement&quot;. &#39;Bloody messages&#39; The United States began efforts to help demarcate the land border between Lebanon and Israel in 2023, after sponsoring an agreement on the maritime border between the two countries in 2022. However, the violence between Hezbollah and Israel froze those efforts. The current demarcation line between the two countries, drawn by the United Nations in 2000, includes 13 disputed points. Israel also kept its troops deployed in five border points it considered strategic after its war with Hezbollah. In a speech to the United Nations in September, Israeli Prime Minister Benjamin Netanyahu said &quot;peace between Israel and Lebanon is possible&quot;, calling on Beirut to &quot;begin direct negotiations&quot; with his country. Under US and Israeli pressure, Lebanon&#39;s government is seeking to disarm Hezbollah, and the Lebanese army has drawn up a plan to do so beginning in the country&#39;s south. Aoun said &quot;Israel continues to send military and bloody messages to pressure us&quot;, hoping to reach a time now when &quot;Israel commits to halting military operations against Lebanon and the negotiating process begins&quot;.

People gather at a site that sold heavy machinery, where a large number of vehicles were destroyed in Israeli airstrikes, in the southern village of Msayleh, Lebanon. (AP)

Middle East

Lebanese President Aoun urged negotiations with Israel after Gaza ceasefire, emphasizing compromise and peace, and calling on Israel to halt military actions to start talks.​

Lebanon president says 'necessary to negotiate' with Israel

TEL AVIV: US President Donald Trump has said that several Middle Eastern nations were interested in joining the Abraham Accords &ldquo;Those who have joined the accords so far have done unbelievably well&rdquo;, trump said a speech to the Israeli Knesset on Monday. &nbsp; He praised the Abraham Accords as exceeding expectations, with continued interest from additional countries, though he did not name them, only hinting &ldquo;manty of these countries will be in Egypt&rdquo;. He also criticized former US presidents Obama and Biden for inaction while praising his own administration&rsquo;s successes in strengthening ties between Israel and Arab nations. He spoke of transforming the land into a thriving region and declared the potential era of peace for the Middle East. Trump calls for Iran denuclearization He warned that Iran was two months away from acquiring nuclear weapons, justifying the June 2025 strikes on Iranian nuclear sites by US B-2 Spirit stealth bombers. Trump said he was aiming for a peace deal with Iran. &ldquo;They got it from one side, from the other, and you know it would be great if we could make a peace deal with them,&rdquo; he told Israel&rsquo;s parliament. &ldquo;Would you be happy with that? Wouldn&#39;t it be nice, I think. Because I think they want to&rdquo;, he said. Trump added that any agreement depends on Iran&rsquo;s willingness. &ldquo;We&#39;re ready when you are,&rdquo; he said. He defended his decision to end the Iran nuclear deal, calling it a move he was &ldquo;very proud&rdquo; of. &ldquo;Yet even to Iran, whose regime has inflicted so much death on the Middle East, the hand of friendship and cooperation is open,&rdquo; he said. &ldquo;They want to make a deal and we&#39;re going to see if we can do something.&rdquo; He stated that neither the United States nor Israel bore hostility toward the Iranian people, saying, &ldquo;We merely want to live in peace.&rdquo; Trump also criticized former presidents Obama and Biden for their Middle East policies, claiming they did not support Israel as strongly. He said Obama &ldquo;chose Iran over lots of good countries, especially Israel,&rdquo; and called the Iran nuclear deal &ldquo;a disaster,&rdquo; despite Netanyahu&rsquo;s efforts to prevent it. Disarming regional threats Trump announced that the &ldquo;dagger of Hezbollah&rdquo; has been shattered and pledged his administration&rsquo;s support for Lebanon&rsquo;s president in disarming Hezbollah. He called the recent ceasefire &quot;the most challenging breakthrough in the world,&quot; highlighting scenes of people dancing in the streets to celebrate peace. He described the current moment as historic, marking the end of a long, difficult road spanning centuries, with regional support for the plan, Hezbollah demilitarized, and Hamas disarmed. Vision for a &ldquo;peaceful&rdquo; Middle East Trump said Israel, with US help, has achieved all military objectives and it is now time for peace and prosperity in the Middle East. He praised Israeli Prime Minister Benjamin Netanyahu (&ldquo;Bibi&rdquo;) as &ldquo;a nice man&rdquo; and urged Middle Eastern leaders to embrace the peace plan fully. He said that antisemitism and support for terrorism that endured for decades has come to an end. Call for Palestinian reform Trump urged Palestinians to expel &ldquo;wicked forces&rdquo; and focus on rebuilding after tremendous death and pain. He outlined plans for the stability and economic development of Gaza, mentioning the formation of the &ldquo;Board of Peace&rdquo; to oversee reconstruction. Wealthy ME nations reportedly commit to Gaza rebuilding He thanked wealthy Arab and Muslim countries committing significant funds to Gaza&rsquo;s rebuilding and noted upcoming meetings in Egypt with these countries. However, he was careful not to name them. &ldquo;I wanna thank Arab and Muslim countries for their support, they are wealthy countries, we will put up tremendous amount of money, we will build Gaza. &ldquo;I don&rsquo;t wanna say who they are but what they are doing is, they wanna see the good, the good for Israel. [And] the kind money they have, for these countries its relatively little compared to their worth&rdquo;. Promoting partnership Trump said regional countries should be partners, not enemies, and stand together against &ldquo;forces of chaos&rdquo;. Trump called for building a future focusing on innovation, medicine, and AI instead of weapons. Praise for Israel&rsquo;s strength and heritage Trump expressed strong support for Israel, calling it a strong nation that will endure forever. &ldquo;The state of Israel is strong, it will live forever&rdquo;. He stated that the US always supported Israel since its inception due to &ldquo;sharing similar values&rdquo; with the US. He hailed &ldquo;Israel&rsquo;s military&rdquo; and &ldquo;innovative economy&rdquo;, calling Jerusalem the &ldquo;ancient capital&rdquo; of the occupying regime. He also talked about the region&#39;s significance for Judaism, Christianity, and Islam. He described the coexistence of people of all faiths in the sacred land as a &ldquo;modern miracle&rdquo;. Trump urges pardon for Netanyahu The US President told the Israeli parliament that Netanyahu, facing trial in three corruption cases, should be &lsquo;pardoned.&rsquo; He dismissed allegations of accepting luxury gifts worth over $260,000 as trivial, calling Netanyahu one of Israel&rsquo;s greatest wartime leaders. Addressing Israeli President Isaac Herzog, Trump suggested granting Netanyahu a pardon, adding he personally supports the prime minister. Legacy of &lsquo;peace&rsquo;, &lsquo;hope&rsquo;, and &lsquo;prosperity&rsquo; Trump promised to build a legacy across the region&mdash;from the Middle East, to India, Pakistan, Turkey, and Azerbaijan&mdash;of hope and prosperity. He called the Middle East the geographic center of the world and expressed his vision for Israel, the US, and Middle Eastern nations to become stronger and more prosperous together. Russian peace deal Trump was positive about securing a peace deal involving Russia and Ukraine following his success with securing a Gaza ceasefire. He expressed confidence that it will be achieved soon. &ldquo;We will get it done&rdquo;, he stated. The speech was delivered amid the backdrop of a recent Gaza ceasefire, the return of hostages, and ongoing peace negotiations. The conservative president&rsquo;s remarks were met with applause in the Knesset. <img src="https://paktv-assets-7d41fab8.s3.eu-west-2.amazonaws.com/uploads/bcab3a6a-96d8-4d47-9c18-5ff701ff8488-AP25286460826624 (1).jpg" alt="Jared Kushner, acknowledges applause at the Israeli parliament, the Knesset, in Jerusalem, Monday, October 13, 2025. (AP)" class="fr-fil fr-dib"><figcaption class="caption-cover-image text-sm text-gray-600 italic">Jared Kushner, acknowledges applause at the Israeli parliament, the Knesset, in Jerusalem, Monday, October 13, 2025. (AP)</figcaption> With input from the AFP.

President Donald Trump addresses the Knesset, Israel's parliament, Monday, October 13, 2025, in Jerusalem. (AP)

Asia

Americas

Trump announced Middle East peace progress, urged Iran denuclearization, praised Abraham Accords, supported Israel, called for Palestinian reform, and advocated Netanyahu’s pardon.​

Trump says more Middle Eastern nations may join Abraham Accords

SAN FRANCISCO: OpenAI, the company behind ChatGPT, announced Monday it is teaming up with chip giant Broadcom to design and build its own specialized computer processors for artificial intelligence.&nbsp;The partnership was the latest in a series of recent announcements by OpenAI as it seeks to strengthen its position as the preeminent company of the generative AI revolution that began with the release of ChatGPT in November 2022.&nbsp;In the past few weeks, under the leadership of CEO Sam Altman, OpenAI has signed huge investments in data centers and AI chips with US companies Nvidia and AMD, as well as with South Korea&#39;s Samsung and SK Hynix.&nbsp;The partnerships come even as there are no real signs that the AI business is close to breaking even, despite its strong growth.&nbsp;The deals to build out AI&#39;s immense infrastructure needs also threaten further stress on electricity providers, with AI data centers demanding significant power and resources to deliver the computing necessary for the expected usage of the technology.&nbsp;The financial terms of the deal were not part of the announcements and remain unclear for many of the recent deals, drawing some skepticism from observers who worry the AI frenzy may have created a financial bubble, posing a risk to investors.&nbsp;By designing its own chips rather than relying solely on off-the-shelf processors, OpenAI says it can build hardware specifically tailored to how its AI models work, potentially making them faster and more powerful.&nbsp;&quot;Partnering with Broadcom is a critical step in building the infrastructure needed to unlock AI&#39;s potential and deliver real benefits for people and businesses,&quot; said Altman, OpenAI&#39;s co-founder and chief executive.&nbsp;The custom processors will be installed in data centers operated by OpenAI and its partners to keep up with soaring worldwide demand for AI services.&nbsp;OpenAI has grown rapidly to more than 800 million people using its services weekly since its 2022 launch.&nbsp;Broadcom, which will manufacture and help develop the chips, called the collaboration &quot;a pivotal moment&quot; in AI development.

Artificial Intelligence

OpenAI is partnering with Broadcom to develop custom AI chips, aiming to boost performance and reduce reliance on standard processors. This move supports growing AI demands despite financial concerns and energy challenges.

OpenAI announces Broadcom partnership to build AI chips

KYIV: Ukrainian President Volodymyr Zelensky on Monday hailed the &quot;extraordinary&quot; Gaza ceasefire as bringing hope that US President Donald Trump could broker an end to the Russian invasion of his country.&nbsp;&quot;When peace is achieved for one part of the world, it brings more hope for peace in other regions,&quot; Zelensky said on social media.&nbsp;He added: &quot;If a ceasefire and peace have been achieved for the Middle East, the leadership and determination of global actors can certainly work for us too, in Ukraine.&quot;&nbsp;Trump had once vowed he could end the war in a matter of hours, but despite several rounds of talks and a summit with Russian President Vladimir Putin, there has been no significant progress towards a peace deal.&nbsp;Russia has refused multiple calls for a ceasefire and outlined hardline demands, essentially calling for Kyiv to capitulate in exchange for peace.&nbsp;The US leader has grown increasingly frustrated with Putin in recent weeks and recently said he could see Ukraine reclaiming every inch of territory seized by Russia.&nbsp;Moscow&#39;s army currently controls around a fifth of Ukraine, including the Crimean peninsula, which it captured and annexed in 2014.&nbsp;German Chancellor Friedrich Merz also urged Trump to carry the momentum from brokering the Israel-Hamas ceasefire into efforts on Ukraine.&nbsp;&quot;We also hope that the American president will now use the influence he has exerted on the parties involved in the Middle East to work with us on the Russian government,&quot; Merz said in Egypt, where he was to attend a summit of world leaders, including Trump.&nbsp;Merz added that he will discuss the Russia-Ukraine war settlement with Trump at the summit.

Europe

Ukrainian President Zelensky praised the Gaza ceasefire as a hopeful sign for Ukraine, urging US President Trump to apply similar efforts toward ending Russia's invasion. German Chancellor Merz echoed support for renewed peace talks.

Gaza deal brings hope for Ukraine: Zelensky

NAIROBI: Around 300,000 South Sudanese have fled the country in 2025 alone, largely due to escalating conflict, the UN Commission on Human Rights said on Monday. South Sudan has been beset by political instability and ethnic violence since it gained independence from Sudan in 2011. A fragile power-sharing agreement between President Salva Kiir and his first vice-president Riek Machar, suspended last month, has been unravelling for months in the world&#39;s youngest country. &quot;Armed clashes are occurring on a scale not seen since a cessation of hostilities was signed in 2017, with civilians bearing the brunt of human rights violations and displacements,&quot; the United Nations said in a statement. &quot;Women remain disproportionately affected, bearing the greatest burdens and risks of forcible displacement,&quot; the statement continued. The Commission&#39;s chairman, Yasmin Sooka, blamed the crisis on the &quot;deliberate choices&quot; of South Sudanese leaders, saying they have &quot;put their interests above those of their people&quot;.

Former child soldiers stand in line waiting to be registered with UNICEF to receive a release package, in Yambio, South Sudan. (AP)

Africa

South Sudan has been beset by political instability and ethnic violence since it gained independence from Sudan in 2011.

Around 300,000 South Sudanese fled country in 2025, largely due to conflict: UN

ISLAMABAD: Law enforcement agencies dispersed violent protesters in Muridke on Monday, resulting in casualties on both sides after street protests by Tehreek-e-Labbaik Pakistan (TLP) activists. According to law enforcement agency sources, authorities launched an operation to break up the unruly protest but faced resistance from the TLP members. The protesters pelted policemen with stones, attacked officers with spiked batons, and hurled petrol bombs. Authorities said the situation worsened quickly when the unruly protesters randomly opened fire on law enforcement officials and civilians in the area. Security forces were compelled to take limited defensive action to protect themselves and restore order. The confrontation resulted in significant casualties before the protest was brought under control. One Punjab police Station House Officer (SHO) was martyred, 48 were injured, and 17 suffered gunshot wounds. Authorities report that three TLP protesters were killed in the clashes, along with one bystander, while eight civilians were injured. The unruly protesters also set fire to 40 government and private vehicles before they were dispersed. After the dispersal, law enforcement agencies arrested several people involved in the violence. A search operation is ongoing as authorities seek to apprehend more suspects and keep the area secure.

Security

Violent clashes erupted in Muridke as TLP protesters confronted law enforcement, resulting in multiple deaths, injuries, and property damage. Police restored order after using defensive action and launched arrests and search operations to secure the area

LEAs disperse protesters in Muridke

LAHORE: Spinner Noman Ali grabbed four wickets to restrict South Africa to 216-6 at the close of play on day two of the first Test in Lahore on Monday, despite a fighting half-century from Tony de Zorzi.&nbsp;Spinners dominated on a turning Gaddafi Stadium pitch as all the day&#39;s 11 wickets went to slow bowlers, with South African left-armer Senuran Muthusamy taking a career-best 6-117 to dismiss Pakistan for 378.&nbsp;Zorzi was holding the fort at the close with 81 not out and Muthusamy on six as South Africa trail by 162 runs in the first innings.&nbsp;Zorzi batted with guts, knocking nine boundaries and a six, combating Noman, who claimed 4-85.&nbsp;South Africa started off well with 45-0 on the board when Noman removed touring skipper Aiden Markram for 20 and Wiaan Mulder for 17, both caught behind by wicketkeeper Mohammad Rizwan.&nbsp;Ryan Rickelton, who scored a punishing 71 with two sixes and nine boundaries, and Zorzi added 94 for the third wicket, taking on the spinners with some aggressive shots.&nbsp;It was part-timer Salman Agha who broke the stand by forcing an edge from Rickelton with Babar Azam taking a smart low catch in the slips.&nbsp;Noman returned for his third spell to get Tristan Stubbs caught behind for eight and Kyle Kyle Verreynne leg-before for two while Sajid Khan removed Dewald Brevis for a golden duck.&nbsp;Earlier, it was Noman&#39;s like-for-like left-armer Muthusamy who destroyed Pakistan after they resumed on 313-5, losing their last five wickets for just 16 runs.&nbsp;Agha hit five fours and three sixes in his 93 and was last man out, caught in the deep off spinner Prenelan Subrayen, who took 2-78.&nbsp;Agha added 49 with Rizwan to take their sixth-wicket stand to 163 before Muthusamy ripped out the middle order with three wickets in the 12th over of the day.&nbsp;Rizwan was the first to go, for 75, when he edged a sharply turning ball to wicketkeeper Verreynne after a knock containing two fours and two sixes.&nbsp;Two balls later Noman went without scoring, bowled when he played down the wrong line and then Sajid Khan followed first ball, caught in the slips.&nbsp;It became 378-9 when Muthusamy bowled Shaheen Shah Afridi, on seven, for his sixth wicket.&nbsp;His previous Test best was 4-45 against Bangladesh in Chattogram last year.

Spinner Noman Ali’s four wickets reduced South Africa to 216-6 in reply to Pakistan’s 378 on day two of the Lahore Test, despite Tony de Zorzi’s unbeaten 81. Earlier, Muthusamy claimed a career-best 6-117.

Noman derails South Africa to 216-6 in first Pakistan Test

KHAN YUNIS: Several buses carrying prisoners released by Israel in exchange for hostages freed on Monday by Hamas arrived in the Gazan city of Khan Yunis, an AFP journalist saw. Thousands of people gathered to welcome the prisoners, cheering and waving Palestinian and Hamas flags in celebration

Buses carrying Palestinian prisoners arrive in Gaza's Khan Yunis

THE HAGUE: The Dutch government took effective control of Chinese-owned chipmaker Nexperia, in what it said was a &ldquo;highly exceptional&rdquo; move over worries that corporate governance shortcomings pose a potential risk to European economic security. In a statement late Sunday, the Dutch ministry of economic affairs said it had invoked the rarely used Goods Availability Act to intervene in the business of Nexperia, which makes semiconductors used in the automotive and consumer technology industries.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowtransparency="true" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1977462365701501128&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Fdashboard%2F&sessionId=79f3e8bbfb6998ee9f3d17259b8297858543e04e&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 487px; display: block; flex-grow: 1;" data-tweet-id="1977462365701501128"></iframe></div></div>Nexperia based in the Dutch city of Nijmegen but owned by China&#39;s Wingtech Technology.&nbsp;Risk to economic security&nbsp;Concerns about Nexperia&rsquo;s governance &ldquo;posed a threat to the continuity and safeguarding on Dutch and European soil of crucial technological knowledge and capabilities,&quot; the ministry said. &ldquo;Losing these capabilities could pose a risk to Dutch and European economic security,&rdquo; it said, without elaborating. The government said it wanted to prevent a situation in which Nexperia&#39;s chips would &ldquo;become unavailable in an emergency.&rdquo; The government provided few details about its decision to invoke the act on September 30, but the move underscores wider geopolitical tensions between China and the West over the development and mastery of advanced technologies such as computer chips. Nexperia did not immediately respond to a request for comment. &lsquo;Politicization of commercial matters&rsquo;Wingtech said in a social media post that it &ldquo;firmly opposes the politicization of commercial matters.&quot; Wingtech called the Dutch government&#39;s move &ldquo;an excessive intervention based on geopolitical bias rather than a fact-based risk assessment&rdquo; that&#39;s based on the &ldquo;unfounded pretext of national security.&quot; Wingtech shares slumped 10% - the daily limit - on the Shanghai Stock Exchange. Wingtech told the exchange that the decision &ldquo;temporarily restricts&quot; its control over Nexperia. The Dutch government said it wanted to prevent a situation in which Nexperia&rsquo;s chips would &ldquo;become unavailable in an emergency.&rdquo;Nexperia&rsquo;s &ldquo;regular production process can continue,&rdquo; it added. &lsquo;Legal remedies&rsquo;The company said it would pursue &ldquo;legal remedies,&rdquo; vowed to protect the rights and interests of the company and its shareholders; and is &ldquo;actively contacting relevant government departments to seek support.&rdquo; The Dutch government said its move to exert control means &ldquo;company decisions may be blocked or reversed by the Minister of Economic Affairs if they are (potentially) harmful to the interests of the company, to its future as a Dutch and European enterprise, and/or to the preservation of this critical value chain for Europe.&rdquo; Nexperia was spun off from Phillips Semiconductors two decades ago and then purchased in 2018 by Wingtech. In 2023, the British government blocked Nexperia&#39;s bid to acquire Wales-based chipmaker Newport Wafer Fab, citing national security risks. Late last year, the US Commerce Department included Wingtech in an expanded list of Chinese technology companies subject to export controls. &lsquo;Risk to our national security&rsquo;&nbsp;Commerce Secretary Gina Raimondo said the move was intended to impair China&rsquo;s ability to use advanced technologies that &ldquo;pose a risk to our national security.&rdquo; China &ldquo;consistently opposes the overstretching of national security concepts and discriminatory practices targeting companies from specific countries,&rdquo; Ministry of Foreign Affairs spokesman Lin Jian said Monday when asked about the issue. &ldquo;Relevant countries should genuinely uphold market principles and avoid politicizing economic and trade issues.&rdquo; The European Union has been in &ldquo;close contact&rdquo; with Dutch authorities and will now work with the Netherlands on &ldquo;next steps&rdquo; over securing crucial technological capabilities on the continent, European Commission spokesman Olof Gill said.

Dutch ministry of economic affairs says it invoked Goods Availability Act to intervene in the business of Nexperia, which makes semiconductors; Nexperia based in the Dutch city of Nijmegen is owned by China's Wingtech Technology.

Articles by Jamie McGeever