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Pakistan's Finance Minister Muhammad Aurangzeb has formally requested a $10 billion Exchange Stabilisation Support Facility from the US Treasury to strengthen the national economy. The facility, which would rely on the Treasury's Exchange Stabilisation Fund, aims to bolster foreign exchange reserves and ease debt pressures. Diplomatic sources indicate strong chances of approval, though the US Treasury has not commented officially.
The US military has completed its 11th night of strikes on Iran, targeting aircraft hangars and drone storage sites, while Iran continues attacks on a tanker in the Strait of Hormuz and other regional targets. Diplomatic efforts in Pakistan, led by Iranian Interior Minister Eskandar Momeni, have yet to yield a new arrangement, and the conflict has pushed oil prices higher.
US Secretary of State Marco Rubio says Washington is open to a diplomatic solution but accuses Iran of not being serious about talks, as US strikes continue for consecutive nights. Rubio warns Iran will 'pay a price' and reiterated the US goal of denuclearization.
Pakistan merges its Board of Investment and Special Investment Facilitation Council, sparking debate on whether institutional changes can overcome deep-rooted economic challenges. Analysts point to declining FDI, high taxes, and policy inconsistency as critical hurdles.
Persian Gulf monarchies are increasingly frustrated with the US-Iran conflict and may seek new security partnerships, while some states push for escalation and others for de-escalation, according to experts and reports cited by TASS.
Pakistan's petroleum dealers have suspended a planned nationwide strike after the government agreed to review daily fuel pricing and address dealers' commission demands within two weeks. The move follows a split within the dealers' association, with one faction calling off the shutdown while another claimed talks had failed.
Yemen's Houthi rebels have declared a naval blockade on Saudi Arabia, threatening global energy supplies and trade routes through the Red Sea. The move escalates the US-Iran war and tests Saudi Arabia's strategic patience, with UN officials warning of further regional confrontation.
Prime Minister Shehbaz Sharif launched a new AI-based digitisation platform for the Prime Minister's Office, aiming to replace paper-based working with digital processes. The government also outlined a broader digital vision for national digitalisation, with priority sectors including health, agriculture, utilities, housing, and SMEs.
Monsoon-driven flash floods have killed at least 20 people in Afghanistan's eastern Nuristan province, with around 100 missing and over 80 injured. Rescue operations are underway, hampered by remote terrain and debris.
Pakistan's stock market opened sharply higher on Tuesday, with the KSE-100 index gaining nearly 1,200 points intraday, before giving up most gains to close marginally up. The volatility came as global oil prices eased amid US-Iran mediation efforts, but later rose on fresh Gulf hostilities.
ASEAN foreign ministers gathered in Manila to address regional security issues, overshadowed by renewed fighting between the US and Iran. The conflict has disrupted energy supplies through the Strait of Hormuz, prompting the Philippines to declare a national energy emergency. The bloc called for a ceasefire and discussed Myanmar, South China Sea tensions, and energy security.
Seoul stocks snapped a two-day losing streak, closing up 3.56% as investors bought tech heavyweights. The Korean won strengthened, and market breadth was positive. Analysts cited bargain hunting in semiconductors and a bullish outlook from global investment banks.
The Pakistan Stock Exchange's KSE-100 index jumped by more than 2,000 points during early trading on Tuesday, buoyed by softening global oil prices and renewed US-Iran mediation efforts. The rally followed a volatile Monday session that ended with modest gains.
Regional mediators have presented the US and Iran with a proposal for a 10-day ceasefire aimed at reopening the Strait of Hormuz and salvaging the collapsing memorandum of understanding. Both sides have responded, with Washington reportedly holding fire for two nights and demanding a longer truce, while some experts warn the ceasefire could be a US ploy to prepare a ground operation.
The Gilgit-Baltistan Assembly has unanimously adopted a resolution calling on Pakistan's federal government to grant the region provisional provincial status, alongside constitutional and political rights. The move, supported across party lines, also urges inclusion in the NFC Award and has been endorsed by the All Parties Hurriyat Conference's AJK chapter.
Flash floods in Afghanistan's Nuristan province have killed at least 20 people, injured dozens more, and left over 100 missing as rescue crews search through mud and rubble. Officials warn of further heavy rain as the monsoon season exacerbates the region's vulnerability to extreme weather.
The Pakistani government has announced successive changes to petrol and high-speed diesel prices in July, reflecting international market fluctuations linked to regional tensions. Petroleum Minister Ali Pervaiz Malik said the Oil and Gas Regulatory Authority will take over daily price-setting based on weekly international averages, a step the government frames as improving transparency. Pump owners’ groups have raised objections and deferred strike action after talks.
Iranian Interior Minister Eskandar Momeni has arrived in Islamabad for an official visit, holding meetings with Prime Minister Shehbaz Sharif, Chief of Defence Forces Field Marshal Syed Asim Munir, and Interior Minister Mohsin Naqvi. The discussions focus on bilateral cooperation, regional security, and the ongoing US-Iran conflict, with Pakistan continuing its mediation efforts.
Canadian Foreign Minister Anita Anand arrived in Islamabad for a two-day visit, meeting Pakistan's Deputy PM and Foreign Minister Ishaq Dar. The talks focused on strengthening cooperation in trade, investment, education, and people-to-people exchanges, marking the first such visit in nearly two decades.
Oil prices jumped above $90 per barrel on Monday and extended gains midweek as the US and Iran exchanged airstrikes and attacks on commercial vessels around the Strait of Hormuz, raising fresh concerns about supply security from the critical waterway.