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Iran and the United States have paused their attacks, offering a respite for Gulf shipping and oil markets. Oil prices fell sharply on Monday as investors reacted to the reduced hostilities, while US envoy Mike Waltz said President Trump was giving talks 'some space'.
The Pakistan Stock Exchange's KSE-100 index rose sharply on Monday, gaining more than 5,000 points intraday, driven by easing US-Iran tensions and expectations of a steady policy rate. The State Bank of Pakistan later maintained its policy rate at 11.5%.
The Federal Court of Australia upheld a ruling that One Nation leader Pauline Hanson racially discriminated against Greens senator Mehreen Faruqi in a 2022 tweet. Hanson had appealed the original finding, arguing that political communication should be protected, but the court dismissed the appeal.
Chinese President Xi Jinping has called for international cooperation on AI governance, announcing the creation of the World Artificial Intelligence Cooperation Organisation (Waico) with 29 founding members including Pakistan. The initiative highlights growing competition between US, EU, and Chinese approaches to regulating the rapidly evolving technology.
Flooding in the Chenab River has subsided from medium to low, according to the Punjab Provincial Disaster Management Authority, while the Met Office forecasts a fresh rainfall spell from July 29. The NDMA warns of possible flash floods and urban flooding in several districts.
Iran has passed another night without US airstrikes as Washington pauses its campaign, with reports suggesting concerns over dwindling munitions are restraining further escalation. The lull has revived hopes of negotiations, but President Trump has threatened strikes at a 'much higher level' if no deal is reached.
The Muttahida Qaumi Movement-Pakistan (MQM-P) has stepped up its campaign for new provinces, with party chairman Khalid Maqbool Siddiqui leading a rally in Hyderabad and senior leader Mustafa Kamal holding a press conference in Karachi. The party argues that the existing administrative system has failed to meet governance needs and that new provinces are essential for better service delivery and equitable resource distribution.
Pakistan's Federal Investigation Agency has set up dedicated units to investigate crimes on the dark web and via cryptocurrency, aiming to counter money laundering, terrorism financing, human trafficking, and other illegal activities. The units, housed in the National Command and Control Centre, will use blockchain forensics and enhanced coordination to trace criminal networks.
Security forces have killed three more terrorists in an ongoing intelligence-based operation in Balochistan's Mastung district, bringing the total to 13 under Operation Al-Azm, according to state media. The operation was launched after an attack on a passenger coach earlier this week. Officials have also reported the destruction of hideouts and recovery of weapons and bomb-making materials.
China is advancing overland trade routes across Central Asia as global shipping chokepoints face continued disruptions. New railway and road links, including a multi-modal corridor to Afghanistan via Uzbekistan, aim to cut delivery times significantly. The Belt and Road Initiative's rapid development in the region has made China the largest trading partner of all Central Asian countries, with trade exceeding $100 billion.
The Pakistani government has announced a daily revision of fuel prices, with petrol increasing by Rs3.66 and high-speed diesel by Rs4.80 per litre, effective July 25. The move, attributed to fluctuating global oil prices and regional tensions, has been met with opposition from fuel dealers. Prices remain high, with petrol at Rs335.18 and HSD at Rs383.46 per litre.
The United States conducted strikes across Iran, reaching the Caspian Sea, as President Trump threatened major military punishment. Iran retaliated against US bases, while Tehran denied reports it rejected a ceasefire proposal. The conflict also draws in the Houthis' naval blockade and rising shipping costs.
A terrorist attack on a joint police checkpost in Khyber Pakhtunkhwa's Tank district killed 15 people, including 14 security personnel, with an explosive-laden vehicle rammed into the perimeter wall. Security forces eliminated a number of militants, though reports differ on the exact figure. The attack was claimed by local Taliban militants, who said four suicide bombers took part.
Local elections in Pakistan-administered Kashmir are set for July 27 amid calls for boycott and ongoing unrest. The outlawed JAAC demands the abolition of 12 reserved seats for refugees, a move the region's Supreme Court has ruled constitutionally protected. Over 30 people have died since June in related violence.
Prime Minister Shehbaz Sharif inaugurated the Sky47 data centre and AI cloud in Islamabad, calling it 'awe-inspiring' and praising the collaboration between military and civilian sectors. He also urged Afghanistan to act against terrorist groups and announced a Rs300 billion Karachi-Chaman dual carriageway project.
Prime Minister Shehbaz Sharif announced the promotion of Lieutenant General Aamer Raza to four-star general and his appointment as the first Commander of the National Strategic Command (CNSC), a post created under Pakistan's 27th Constitutional Amendment. The appointment marks a key step in the ongoing restructuring of the military's higher command, with expectations of further reshuffles.
The United States has imposed new tariffs of 10-12.5% on imports from 60 countries, citing inadequate enforcement of forced labor bans. The tariffs, set under Section 301, affect seven African nations, while Namibia is exempt. Reactions vary, with some small businesses seeing the new rates as manageable compared to previous tariffs.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar, speaking at the SCO Council of Foreign Ministers' meeting, stated that regional peace and stability depend on eliminating terrorism from Afghanistan. Dar also held bilateral meetings with the Kyrgyz president and China's foreign minister on the sidelines.
Pakistan has condemned Houthi threats against Saudi Arabia and commercial shipping in the Red Sea, vowing swift retaliation against any hostile act towards its maritime interests. The country reaffirmed its defence agreements with Saudi Arabia while balancing ties with Iran.
Foreign ministers of eight Arab and Muslim-majority countries issued a joint statement condemning mass settler incursions into the Al-Aqsa Mosque compound, led by Israeli National Security Minister Itamar Ben-Gvir, as a 'flagrant violation of international law.' The statement warned that such actions fuel hatred and obstruct peace efforts.