Gaitty Ara Anis

WASHINGTON: Prime Minister Shehbaz Sharif and US President Donald Trump are scheduled to meet in Washington today, with the two leaders expected to discuss matters of mutual interest, as well as regional and global issues, according to Radio Pakistan. Following his time at the United Nations, PM Sharif will travel to Washington, DC, for the highly anticipated one-on-one meeting with President Trump at White House.&nbsp; A Trump administration official told Reuters on Wednesday that the US and Pakistan are &ldquo;working through a number of issues when it comes to counter-terrorism, when it comes to economic and trade ties.&rdquo; &quot;And so the president remains focused on advancing US interests in the region, which includes engaging with Pakistan and their government leaders,&quot; the official said. Meeting to cover range of issuesPM Sharif&rsquo;s visit, his first to the US Capitol for a direct meeting with Trump, is seen by analysts as a pivotal moment for the newly reset relationship between Washington and Islamabad. Their discussion is expected to cover a range of critical topics, including strengthening bilateral relations, counter-terrorism efforts, regional stability in Afghanistan, and expanding trade, including pressing&nbsp;international matters.&nbsp; He earlier met with the US president during a separate meeting of Islamic and Arab nations focused on establishing sustainable peace in Palestine and the Middle East. After his meeting in DC, PM Sharif will return to New York to prepare for his address to the United Nations General Assembly on September 26.&nbsp; He is expected to use the platform to call for action on key issues, including the right to self-determination for Kashmiris and Palestinians and the global challenge of climate change, which has had a devastating impact on Pakistan.&nbsp; Trade with Pakistan, IndiaThe United States and Pakistan announced a trade deal on July 31 with a 19% tariff rate imposed by Washington. Trump has yet to reach a trade deal with India. When asked about frictions with India, the official said Trump believed in being frank about frustrations in ties, but the relationship was strong. Washington viewed New Delhi as a good friend and partner, and felt that their relationship would define the 21st century, the Trump administration official said. He added that Washington had been working on planning for a summit of the Quad grouping, comprising India, Australia, Japan, and the United States, which was expected to take place in November. That would happen, &quot;if not this year, [then] early next year,&quot; the official said.

Americas

Trump administration official says US-Pakistan are “working through a number of issues when it comes to counter-terrorism, when it comes to economic and trade ties.”



PM Sharif, Trump to meet in Washington today

Web Desk

ISLAMABAD: The Royal Swedish Academy of Sciences has awarded the 2025 Nobel Prize in Economic Sciences to Joel Mokyr, Philippe Aghion, and Peter Howitt for their work explaining how innovation drives sustained economic growth. The 11 million Swedish kronor ($1.156 million) prize was split half to Mokyr, half shared between Aghion and Howitt. Joel Mokyr Joel Mokyr was born in 1946 in Leiden, the Netherlands. He is a professor at Northwestern University, US. Awarded half of the 2025 Nobel Prize in Economic Sciences, he identified the prerequisites for sustained growth through technological progress. Mokyr&rsquo;s research shows that for continuous innovation, societies need both knowledge that innovations work and scientific explanations of why. He also emphasized the importance of openness to new ideas and allowing change for growth to flourish. Philippe Aghion Philippe Aghion was born in 1956 in Paris, France. He shares half of the prize with Peter Howitt. He is a professor at Coll&egrave;ge de France, INSEAD, and the London School of Economics. Aghion co-developed a mathematical model explaining sustained growth through creative destruction, where new and better products replace older ones, driving economic progress but also disrupting existing companies. Peter Howitt Peter Howitt, born in 1946 in Canada, is a professor at Brown University, USA. He jointly received half the prize with Aghion for their theory of creative destruction. Howitt&rsquo;s work focuses on how firms innovate by developing better products and processes in a competitive rivalry that fuels economic growth, balanced by the social and economic effects of displaced businesses. Laureates&rsquo; research Over the past two centuries, economic growth fueled by technological progress has radically transformed societies. The laureates&rsquo; research uncovers why this sustained growth emerged and how the process of creative destruction underpins ongoing innovation and prosperity. Laureates recognized for explaining innovation-driven growth The Nobel Prize for Economic Sciences 2025 is divided with one half awarded to Joel Mokyr of Northwestern University, US, &ldquo;for having identified the prerequisites for sustained growth through technological progress.&rdquo; The other half is shared by Philippe Aghion of Coll&egrave;ge de France, INSEAD, and the London School of Economics, UK, and Peter Howitt of Brown University, US, &ldquo;for the theory of sustained growth through creative destruction.&rdquo; From centuries of stagnation to continuous growth For most of human history, economic growth was stagnant and irregular, despite occasional breakthroughs. Mokyr&rsquo;s historical research explains that sustained growth requires not only knowing that a technology works but understanding why it works scientifically. This connection between propositional knowledge (scientific explanation) and prescriptive knowledge (practical instruction) created a self-reinforcing cycle essential for continuous innovation. Mokyr also highlights society&rsquo;s openness to new ideas as vital, as during the Enlightenment in Europe, when institutions limited the blocking of innovation by privileged groups. The economic model of creative destruction Aghion and Howitt developed a 1992 mathematical model describing creative destruction, where companies with innovations outcompete older ones, leading to sustained progress. Their macroeconomic model captures the balance between research investment, market competition, and the monopoly profits that incentivise innovation. This process is &ldquo;creative&rdquo; because it fosters new technologies but also &ldquo;destructive&rdquo; as older technologies become obsolete. Economic growth beyond GDP The laureates stated that growth means more than a rise in GDP; it encompasses advances in education, healthcare, job opportunities, and overall quality of life. Since the Industrial Revolution, countries like Sweden and the UK have experienced steady annual growth rates of about 1.5% to 2%. Practical and social foundations for growth Mokyr&rsquo;s work stresses practical and commercial knowledge&rsquo;s importance in turning ideas into innovations. Britain&rsquo;s early growth benefited from skilled artisans and engineers who translated concepts into products. Sustained growth creates winners and losers, often provoking resistance from displaced groups. Managing these conflicts through social institutions is essential for ongoing innovation. Balancing innovation and its social costs Aghion and Howitt show that innovation benefits society but can impose losses on existing firms and their workers. This dual effect requires policies that balance encouraging research and development while addressing social impacts, such as supporting displaced workers through flexible labor arrangements. Insights for future economic policy Their research sheds light on recent challenges, like slowing growth and market dominance reducing competition. Encouraging social mobility and supporting innovators remain crucial.&nbsp;The laureates also warn sustained growth is not synonymous with sustainability, as well-designed policies are needed to address climate change, pollution, and inequality. John Hassler, chair of the Nobel committee, said: &ldquo;Economic growth cannot be taken for granted. We must uphold the mechanisms that underly creative destruction, so that we do not fall back into stagnation.&rdquo;

Professor John Hassler, from left, Hans Ellegren, Permanent Secretary of the Academy of Sciences and Professor Kerstin Enflo, announce Joel Mokyr, Philippe Aghion and Peter Howitt as the recipients of the Nobel Memorial Prize in Economics (AP)

Artificial Intelligence

Innovation’s role in economic growth wins Nobel Prize for Economics

BEITUNIA: Under a ceasefire deal many hope will finally turn the page on a two-year war, Israel has been preparing to exchange nearly 2,000 Palestinian prisoners for the 48 hostages &mdash; some alive, some dead &mdash; still held in the Gaza Strip. The releases have a powerful resonance on both sides. For Israelis, they&#39;re deeply painful, since some of those being released have been convicted over attacks that killed civilians and soldiers. For Palestinians, the issue of prisoners is among the most politically charged, with nearly every Palestinian having a friend or family member who has been jailed by Israel, particularly young men. While Israel views them as terrorists, many Palestinians consider the prisoners as freedom fighters resisting a decades-long Israeli military occupation. In previous exchanges, both sides have sought to tightly manage the releases &mdash; including the images, clothing and ceremonies &mdash; because of their political sensitivity. The 2,000 include some 1,700 of the several thousand Palestinians that Israeli troops seized from Gaza during the 2-year war and have held without charge. Those slated for release also include 250 Palestinians sentenced to prison terms, most of them convicted of murder and terrorism in deadly attacks on Israelis dating back decades, as well as others convicted on lesser charges, according to Israel&#39;s Justice Ministry. The longest serving among them has been imprisoned for nearly 40 years. How the Palestinians&#39; release is to play outIsrael&#39;s Prison Service said it has been preparing the prisoners held at two prisons &mdash; Ofer, near Jerusalem, and Ketziot, in the southern Negev desert. Israeli government spokesperson Shosh Bedrosian said Sunday the release would take place after the living hostages are freed. Those seized from Gaza during the war will be returned there. Some of the 250 convicted Palestinians will return home to East Jerusalem or the West Bank or Gaza, while a majority will be sent to Gaza or into exile abroad. Palestinians on Monday morning gathered at viewpoints on the hills overlooking Ofer Prison, from which some of the detainees and prisoners are expected to be freed. Eagerly awaiting their friends and relatives, they drank coffee and said they hoped the agreement could pave a path toward peace. An armored Israeli vehicle drove up the hill from the prison fired tear gas and rubber bullets at one side of the hill. As drones buzzed overhead, the crowd scattered. The tear gas followed the circulation of a flier warning that anyone supporting what it called &ldquo;terrorist organizations&rdquo; risked arrest. &ldquo;You have been warned,&rdquo; read the flier, which AP obtained on site. Israel has warned people in the West Bank against celebrating, as has frequently happened in past releases, a Palestinian Authority official and the family of a prisoner told AP. In neighborhoods where prisoners&rsquo; families live, Israeli forces distributed fliers warning that &ldquo;anyone who participates in such activities exposes himself to punishment and arrest,&rdquo; the official said. The Associated Press reviewed a copy of the flier. Israel&rsquo;s military did not respond to questions about the flier or restrictions. The official spoke on condition of anonymity because he was not authorized to talk to the press, and the family because they feared reprisals. Israel&rsquo;s military did not respond to questions about restrictions or warnings. Who is on the listThe rapid developments since last week&rsquo;s ceasefire agreement have left questions up to the last minute over who will be freed. Israel released a list of some 250 convicted prisoners it would free, but Hamas sought changes. Early Monday, Hamas published the names of just over 1,900 prisoners and detainees it said were slated for release, though Israel did not confirm the list. Israel has provided little information about the 1,700 from Gaza to be freed. Israeli forces detained thousands of Palestinians over the course of the war during raids on shelters and hospitals, and at checkpoints stopping families as they were fleeing their homes amid military operations. Hundreds have been released over the course of the war. Monday&#39;s release would still leave about 1,300 Palestinians from Gaza in Israeli custody, according to a count of detainees in September by the Israeli human rights group Hamoked. According to Hamas&#39;s list, the Gaza detainees to be freed include two women, six teenagers under 18, and around 30 men over 60. Most of the detainees have been held under new laws passed in Israel at the start of the war that allowed Palestinians to be detained for months as &ldquo;unlawful combatants&rdquo; without judicial review or access to lawyers. Rights groups, the UN, and detainees have reported routine abuse in the detention facilities, including beatings and insufficient food. Israel says it adheres to its prison standards under law and investigates any reports of violations. The list of 250 convicted prisoners to be freed, ranging in age from 19 to 64, includes 159 affiliated with Fatah, the political party that runs the Palestinian Authority in the occupied West Bank, and 63 associated with Hamas. The remainder are unaffiliated or belong to other groups. Many were arrested in the early 2000s, which saw the eruption of the Second Intifada, a Palestinian uprising fueled by anger over continued occupation despite years of peace talks. The uprising turned bloody, with Palestinian armed groups carrying out attacks that killed hundreds of Israelis, and the Israeli military killing several thousand Palestinians. Some were convicted in military trials that rights advocates say often lack due process. Others have been incarcerated for months or years without trial in what is known as administrative detention. Israel says the practice, widely criticized by Palestinians and human rights groups, is needed to prevent attacks and avoid sharing sensitive intelligence. The list does not include the roughly half dozen highest-profile prisoners, including Marwan Barghouti, Hassan Salameh, Ahmed Saadat, and Abbas Al-Sayyed. Barghouti is widely seen as a potential successor to Palestinian President Mahmoud Abbas. Israel&#39;s list includes:Raed SheikhA 51-year-old Palestinian police officer and Fatah member, Sheikh was sentenced to multiple life terms in 2000 for his role in the killing of two Israeli soldiers who were attacked by a mob at a West Bank police station, including one thrown from the station&#39;s window. Mahmoud IssaA 57-year-old Hamas commander imprisoned for life in 1993 &mdash; before the Oslo interim peace accords &mdash; Issa was among those convicted of kidnapping and killing a 29-year-old Israeli border police officer that year. Much of his more than three decades behind bars were spent in solitary confinement, conditions that have made him a symbol among prisoners&rsquo; rights advocates. Shamasneh brothersThe two brothers &mdash; 56-year-old Mohammed and 62-year-old Abdel Jawad Shamasneh &mdash; were in 1993 sentenced to multiple life terms for their role in a stabbing attack that killed Israeli hitchhikers whose bodies were later found in a Jerusalem riverbed in 1990 during the first Palestinian intifada. Iyad FataftaA 47-year-old Fatah member serving a life sentence, Fatafta was one of two men convicted of murder for stabbing American tourist Kristine Luken and a friend who was hiking with her and survived.

Middle East

Israel will release nearly 2,000 Palestinian prisoners in exchange for 48 Israeli hostages under a ceasefire deal, marking a tense, politically charged moment for both sides.

Who are the Palestinian prisoners being freed in exchange for Israeli hostages?

DAMASCUS: Syrian Kurdish leader Mazloum Abdi has announced to AFP that he had reached a &quot;preliminary agreement&quot; with Damascus on the integration of his troops into Syria&#39;s military and security forces. Abdi, who heads the powerful Syrian Democratic Forces (SDF), had met Syrian interim President Ahmed al-Sharaa in Damascus last week, along with US envoy Tom Barrack and US commander Brad Cooper. While the Kurdish forces -- who control large swathes of Syria&#39;s oil-rich northeast -- had signed an agreement with the new Syrian authorities in March to merge their civil and military institutions, the deal&#39;s terms were not implemented. &quot;What is new in our recent talks in Damascus is the shared determination and strong will to accelerate the implementation of the terms&quot; of the agreement, Abdi told AFP in an interview at a military base in the northeastern city of Hasakeh on Sunday. &quot;The most important point is having reached a preliminary agreement regarding the mechanism for integrating the SDF and the (Kurdish) Internal Security Forces within the framework of defence and interior ministries,&quot; he added. The Washington-backed SDF and Kurdish security forces consist of around 100,000 male and female members, according to them. The SDF played a vital role in the fight against the Islamic State group in Syria, which ultimately led to the jihadist organisation&#39;s territorial defeat in the country in 2019. Abdi said that military and security delegations from his forces are currently in Damascus to discuss the mechanism for their integration. Disagreements After the fall of longtime leader Bashar al-Assad in December, Sharaa announced the dissolution of all armed groups, to be absorbed by state institutions.&nbsp;Abdi explained that &quot;the SDF will be restructured through its integration into the defence ministry&quot;, as part of several formations. However, some disagreements remain. &quot;We demand a decentralised system in Syria... we have not agreed on it,&quot; he added, as they are &quot;still discussing finding a common formula acceptable to all&quot;. He stressed that they &quot;agree on the territorial integrity of Syria, the unity of national symbols, the independence of political decision-making in the country, and the fight against terrorism&quot;. &quot;We all agree that Syria should not return to the era of war, and that there should be stability and security. I believe these factors are sufficient for us to reach a permanent agreement.&quot; During the last meeting with Sharaa, Abdi said he had called for &quot;modifying or adding some clauses to the existing constitutional declaration&quot; announced in March, particularly those related to &quot;guaranteeing the rights of the Kurdish people in the constitution&quot;. &quot;There was a positive response to this matter, and we hope this will happen soon,&quot; he added. Abdi also expressed his gratitude to the United States and France for facilitating negotiations with Damascus. Asked about Damascus&#39;s main backer Turkey, which has always been hostile to the SDF, Abdi said &quot;any success of the negotiations will certainly depend on Turkey&#39;s role&quot;, expressing hope that it will play a &quot;supportive and contributing role in the ongoing negotiation process&quot;. Turkish President Recep Tayyip Erdogan urged the SDF on Wednesday to &quot;keep their word&quot; and &quot;complete their integration with Syria&quot;. When questioned on the region&#39;s fossil fuel reserves, Abdi noted they &quot;have not yet discussed the oil issue, but it will certainly be addressed in upcoming meetings&quot;.&nbsp; &quot;Oil and other underground resources in northeastern Syria to belong to all Syrians, and their revenues and revenues must be distributed fairly across all Syrian provinces&quot;.

Syrian men attend their noon prayer, left, as others play racket ball at a public beach on the Mediterranean sea, in the coastal city of Latakia, Syria. (AP)

While the Kurdish forces -- who control large swathes of Syria's oil-rich northeast -- had signed an agreement with the new Syrian authorities in March to merge their civil and military institutions, the deal's terms were not implemented.

Syrian Kurdish leader says reached first deal on merging forces with regular army

BRUSSELS: The European Union will Wednesday restart a civilian mission to monitor the Rafah border crossing between Gaza and Egypt in support of a US-brokered ceasefire deal, the bloc&#39;s top diplomat said Monday. &quot;The EU stands ready to do its part,&quot; EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, posted on X after Hamas released a first group of Israeli hostages as part of the agreement.&nbsp; &quot;This mission can play an important role in supporting the ceasefire,&quot; she said. <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" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 611px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1977624674449391943&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Fdashboard%2F&sessionId=79f3e8bbfb6998ee9f3d17259b8297858543e04e&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px"></iframe></div></div>The 27-nation bloc set up a civilian mission in 2005 to help monitor the Rafah crossing, but it was suspended two years later after Hamas took control of Gaza. Neutral, third-party presence&nbsp;The EUBAM monitoring mission aims to provide a neutral, third-party presence at the key crossing and involves police from Italy, Spain and France. It was briefly redeployed in January but suspended again in March. Welcoming Monday&#39;s hostage release, Kallas highlighted US President Donald Trump&#39;s role in this &quot;crucial milestone towards peace&quot;, saying the leader &quot;made this breakthrough possible&quot;. In a separate statement, European Commission chief Ursula von der Leyen said Monday&#39;s Gaza summit in Sharm el-Sheikh finalizing the agreement to end the war would be &quot;a historical milestone.&quot; Bloc fully supports peace plan&nbsp;The bloc &quot;fully supports the peace plan brokered by the United States, Qatar, Egypt, and Turkiye,&quot; she wrote. &quot;We stand ready to contribute to its success with all tools at our disposal,&quot; she said, including by &quot;providing support on governance and for the reform of the Palestinian Authority&quot;. The EU is represented in Sharm el-Sheikh by Antonio Costa, who heads the European Council of the bloc&#39;s member states.

The EU will restart its Rafah border monitoring mission to support a US-brokered Gaza ceasefire. Officials praised recent hostage releases and pledged full support for the peace plan and Palestinian Authority reform.

EU to restart Gaza-Egypt border monitoring mission

JOHANNESBURG: A bus veered off a road and plunged down an embankment on a steep mountain pass in northern South Africa, killing at least 42 people and leaving another 49 passengers injured, authorities said Monday. The crash happened around 6 pm Sunday on the N1 highway near the town of Louis Trichardt, around 400 kilometers (248 miles) north of the capital, Pretoria. Seven children&nbsp;The Transport Ministry said in a statement that the victims included seven children, 17 men and 18 women. It said six people were critically injured and another 31 had serious injuries and had been taken to several hospitals.&nbsp;One critically injured child was airlifted to a hospital, the ministry said. Images released by authorities showed the blue bus lying upside down in the embankment with rescuers working underneath it to search for victims. The Limpopo provincial government said rescue operations continued late into Sunday night. The bus was traveling to Zimbabwe and was carrying Zimbabwean and Malawian nationals who were on their way to their home countries, the Transport Ministry said. It said the cause of the crash was not yet known. &lsquo;Deep condolences&rsquo;&nbsp;In a statement, South African President Cyril Ramaphosa offered &ldquo;his deep condolences to the nations of Zimbabwe and Malawi who have lost compatriots.&rdquo; &ldquo;This sadness is compounded by the fact that this incident has taken place during our annual transport month, where we place a special focus on the importance of safety on our roads,&quot; Ramaphosa said. Last year, 45 people were killed in a bus crash in the same Limpopo province when their vehicle veered off a bridge and into a ravine. An 8-year-old girl was the only survivor of that crash.&nbsp; That bus was carrying mainly Botswana nationals who were traveling to an Easter church gathering in South Africa.

Africa

A bus crash in northern South Africa killed at least 42 people and injured 49. The bus, carrying Zimbabwean and Malawian nationals, veered off a mountain pass. Authorities are still investigating the cause.

Bus crash in South Africa kills at least 42 people

BANGKOK: Asian shares tumbled on Monday as escalating trade tensions with China shattered a months&#39; long calm on Wall Street. US stocks skidded on Friday after President Donald Trump threatened to crank tariffs higher on China, signaling more trouble ahead between the two biggest economies. He was responding to restrictions Beijing is imposing on exports of rare earths, which are materials that are critical for the manufacturing of everything from consumer electronics to jet engines. But US futures advanced, with the contract for the S&amp;P 500 gaining 1.4% while that for the Dow Jones Industrial Average gained 1%. Strongest growth in six monthsChina reported its global exports rose 8.3% in September from a year earlier, the strongest growth in six months and further evidence that its manufacturers are shifting sales from the US to other markets. Exports to the US tumbled 27% year-on-year last month, customs data showed.&nbsp;In Hong Kong, the Hang Seng sank 2.2% to 25,700.07.&nbsp;Most other major regional markets logged losses of more than 1%.&nbsp; The Shanghai Composite index edged 0.2% lower to 3,889.50 and the Kospi in South Korea gave up 0.7% to 3,584.55. Australia&rsquo;s S&amp;P/ASX 200 declined 0.8% to 8,882.80. Taiwan&#39;s Taiex shed 1.4% and India&#39;s Sensex was down 0.4%.&nbsp;Markets in Tokyo were closed for a holiday. Re-escalation of trade warOn Friday, the S&amp;P 500 sank 2.7% in its worst day since April, closing at 6,552.51. The Dow Jones Industrial Average dropped 1.9% to 45,479.60, and the Nasdaq composite lost 3.6% to 22,204.43. The setback reflected signs of a re-escalation of the trade war.&nbsp;&ldquo;We have been contacted by other Countries who are extremely angry at this great Trade hostility, which came out of nowhere,&rdquo; Trump wrote on Truth Social, alluding to Beijing.&nbsp; He also said &ldquo;now there seems to be no reason&rdquo; to meet with China&rsquo;s leader, Xi Jinping, after earlier agreeing to do so as part of an upcoming trip to South Korea. Roughly six out of every seven stocks within the S&amp;P 500 fell. Nearly everything weakened, from Big Tech companies like Nvidia and Apple to stocks of smaller companies looking to get past uncertainty about tariffs and trade. The market may have been primed for a slide. US stocks were already facing criticism that their prices had shot too high following the S&amp;P 500&rsquo;s nearly relentless 35% run from a low in April.&nbsp; The index, which dictates the movements for many 401(k) accounts, is still near its all-time high set earlier in the week. Artificial-intelligence industryCritics say the market looks too expensive after prices rose much faster than corporate profits. Worries are particularly high about companies in the artificial-intelligence industry, where pessimists see echoes of the 2000 dot-com bubble that imploded.&nbsp; For stocks to look less expensive, either their prices need to fall, or companies&rsquo; profits need to rise. In the bond market, the yield on the 10-year Treasury sank to 4.05% from 4.14% late Thursday. In the doldrums&nbsp;It had already been lower before Trump made his threats, as a report from the University of Michigan suggested that sentiment among US consumers remains in the doldrums. Some of Friday&rsquo;s strongest action was in the oil market, where the price of a barrel of benchmark US crude sank 4.2% to $58.90. It fell as a ceasefire between Israel and Hamas came into effect in Gaza. An end to the war could remove worries about disruptions to oil supplies, which had kept crude&rsquo;s price higher than it otherwise would have been. Losses accelerated following Trump&rsquo;s tariff threat, which could gum up global trade and lead the economy to burn less fuel. Brent crude, the international standard, dropped 3.8% to $62.73 per barrel. However, early Monday it was trading 85 cents higher at $63.58 per barrel. US benchmark crude oil gained 72 cents to $59.62 per barrel. In other dealings early Monday, the dollar rose 152.22 Japanese yen from 151.89 yen late Friday. The euro fell to $1.1605 from $1.1614.

Business

The markets fell sharply after Wall Street’s worst day since April, triggered by renewed US-China trade tensions. Trump's tariff threats and China's export restrictions rattled investors, despite China's export growth outside the US.

Asian markets plunge amid renewed US-China trade tensions

ISLAMABAD: &nbsp;Left-arm spinner Senuran Muthusamy produced a superb spell, taking six wickets to help South Africa dismiss Pakistan for 378 on the second morning of the first Test on Sunday.&nbsp;By lunch on Day 2, South Africa reached 10 without loss in their first innings, with openers Ryan Rickelton (4*) and Aiden Markram (5*) surviving a tricky phase before the break.<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" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1977637922347335737&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2Fnew%2F&sessionId=cd53a0764c561af21cbde874b8bb5292f5ba9e36&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: absolute; visibility: hidden; width: 0px; height: 0px; display: block; flex-grow: 1;">&nbsp;</iframe></div><blockquote class="twitter-tweet">VGOTEL Mobile Presents Bank Alfalah Pakistan vs South Africa Test Series 2025 🏏 1st Test Lunch (day 2) at Gaddafi Stadium Lahore 🏟️ South Africa 10-0 in 4 overs Pakistan 378 all out in 110.4 overs.<a href="https://twitter.com/hashtag/PAKvSA?src=hash&ref_src=twsrc%5Etfw" style="color: rgb(0, 115, 230);">#PAKvSA</a> | <a href="https://twitter.com/hashtag/GreenPeYaqeen?src=hash&ref_src=twsrc%5Etfw" style="color: rgb(0, 115, 230);">#GreenPeYaqeen</a> <a href="https://t.co/rb9izwPamU" style="color: rgb(0, 115, 230);">pic.twitter.com/rb9izwPamU</a>&mdash; Pakistan Cricket (@TheRealPCB) <a href="https://twitter.com/TheRealPCB/status/1977637922347335737?ref_src=twsrc%5Etfw" style="color: rgb(0, 115, 230);">October 13, 2025</a></blockquote>Resuming on 314-5, Mohammad Rizwan and Salman Ali Agha extended Pakistan&rsquo;s total to 362 with a composed partnership before Muthusamy broke through. Rizwan, who had looked solid, edged one outside off-stump to the left-arm spinner, triggering a collapse. The remaining four wickets fell for just 16 runs as Muthusamy ripped through the lower order. His figures of 6-82 were a career-best, while off-spinner Prenelan Subrayen chipped in with two wickets, and Simon Harmer and Kagiso Rabada took one apiece.&nbsp;For Pakistan, Imam-ul-Haq (93), Agha Salman (93), Shan Masood (76), and Mohammad Rizwan (75) were the major contributors, building a strong foundation after early trouble. However, a late collapse saw Pakistan lose their last five wickets for just 16 runs.&nbsp;With some turn already visible, the spinners are expected to play a key role as the match progresses. South Africa&rsquo;s immediate goal will be to lay a solid foundation in response to Pakistan&rsquo;s total when play resumes after lunch.

Cricket

South Africa are 10-0 at the lunch on Day 2.

Muthusamy takes six, as South Africa fold Pakistan for 378

ISLAMABAD: Prime Minister Shehbaz Sharif arrived in the Egyptian resort city of Sharm El-Sheikh on Monday to attend the signing ceremony of the landmark Gaza peace plan &mdash; a crucial step toward lasting peace in the Middle East.&nbsp;&quot;Alhamdolillah, arrived in Sharm El-Sheikh this morning to attend the signing ceremony of the landmark Gaza peace plan &mdash; a crucial step towards lasting peace in the Middle East,&rdquo; the prime minister said in a post on X.&nbsp;Expressing gratitude to Egypt&rsquo;s President Abdel Fattah El-Sisi and US President Donald Trump for co-hosting the event, Sharif said the world would not have seen this moment without President Trump&rsquo;s &ldquo;outstanding leadership and unwavering commitment.&rdquo;&nbsp;&ldquo;It took his single-minded pursuit of peace to end the needless killing and destruction,&rdquo; he said.<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" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=1977648035669680624&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Fmedia-library%2F&sessionId=0e645648d26a1939fec5b2b4007e83063710ec63&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 663px; display: block; flex-grow: 1;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div>The premier described the day&rsquo;s ceremony as marking the &ldquo;closing of a genocidal chapter,&rdquo; stressing that the international community must ensure such tragedy is never repeated anywhere again.&nbsp;Reaffirming Pakistan&rsquo;s long-standing stance on Palestine, Prime Minister Sharif said the &ldquo;brave and resilient Palestinian people deserve to live in a free Palestine, with pre-1967 borders, with Al-Quds Al-Sharif as their capital city.&rdquo; The visit takes place at the special invitation of President Trump and President El-Sisi. Deputy Prime Minister and Foreign Minister Ishaq Dar and Minister for Information and Broadcasting Attaullah Tarar are accompanying the prime minister as part of the official delegation, according to a statement issued by the Prime Minister&rsquo;s Office. The summit, being hosted in the Egyptian resort city of Sharm el-Sheikh, brings together global and regional leaders, including President Trump, President Sisi, Emir of Qatar Sheikh Tamim bin Hamad Al Thani, and Turkish President Recep Tayyip Erdoğan, for the signing ceremony of the Gaza Peace Agreement. According to the Foreign Office, the Sharm el-Sheikh Peace Summit is the outcome of sustained diplomatic efforts that began on the sidelines of the 80th Session of the UN General Assembly in New York last month. On September 23, PM Sharif joined leaders from seven Arab and Islamic countries, including Egypt, Jordan, Qatar, Saudi Arabia, the UAE, Indonesia, and T&uuml;rkiye, in a high-level meeting with President Trump to explore pathways for ending the ongoing conflict in Gaza. &ldquo;Through a joint statement, these countries welcomed President Trump&rsquo;s efforts to achieve peace and reaffirmed their collective commitment to work with the US for a comprehensive and sustainable ceasefire, while addressing the critical humanitarian situation in Gaza,&rdquo; the foreign office said. The Prime Minister&rsquo;s Office stated that the visit underscores Pakistan&rsquo;s &ldquo;steadfast commitment to advocating for the rights of the Palestinian people and extending all possible political and diplomatic support to them.&rdquo; It added that Pakistan hopes the peace agreement &ldquo;will help end the ongoing atrocities in Gaza, ensure Israeli withdrawal, enable the safe return of displaced Palestinians, and begin the process of reconstruction.&rdquo; Pakistan remains hopeful that such initiatives will pave the way for the establishment of an &ldquo;independent and sovereign State of Palestine within pre-1967 borders, with Al-Quds Al-Sharif as its capital,&rdquo; in line with UN resolutions and the Arab Peace Initiative.

Foreign Affairs

The summit brings together global and regional leaders from 20 countries to secure a ceasefire and establish lasting peace in Gaza.

PM Sharif arrives in Egypt to attend signing of Gaza peace plan

ISLAMABAD: Pakistan Army team has won the gold medal in the Exercise Cambrian Patrol - 2025 held in Wales, UK from 03-13 October 2025. This was shared in a statement released by Pakistan military&rsquo;s media wing, the Inter-Services Public Relations (ISPR) on Monday. &nbsp; This year, the Exercise Cambrian Patrol celebrated its 66th anniversary. Gold medal&nbsp;The exercise has retained its demanding professional standards; patrols from all across the globe had to move tactically across inhospitable terrain, covering a distance of 60 kilometers within 48 hours, completing specialist tasks in a contested environment. This year, 137 teams from 36 countries participated in the exercise and out of all these teams, Pakistan Army&rsquo;s team lead by Captain Muhammad Saad showed exceptional performance in the exercise and were awarded with the gold medal, the statement said. &lsquo;Proud moment&rsquo;&nbsp;&ldquo;It is indeed a proud moment for the whole nation and the Pakistan Army, which is known for its professionalism and highest standards of training.&quot; &quot;Pakistan Army has always held the country&#39;s flag high and will keep endeavoring in the future as well,&rdquo; the ISPR statement concluded.

Athletics

Led by Captain Muhammad Saad, the team won a Gold Medal at Exercise Cambrian Patrol 2025 in Wales, UK, competing among 137 teams from 36 countries in a grueling 60 km tactical challenge.

Pakistan Army team wins gold in Exercise Cambrian Patrol 2025 in UK 

ISLAMABAD: US President Donald Trump on Sunday mentioned the ongoing Pakistan-Afghanistan border clashes while highlighting his role in global peace efforts. He made these remarks aboard Air Force One, while on his way to the Middle East. During an interaction with the media, a reporter said that the president was receiving credit from Democrats and Republicans for securing the peace deal in Gaza and asked him, &ldquo;Where do you think it fits into your legacy?&rdquo; The US president replied, &ldquo;This will be my eighth war that I&rsquo;ve solved. And I hear there is a war now going on between Pakistan and Afghanistan. I said, I&rsquo;ll have to wait till I get back [to ease tensions between the two countries]. You know I&rsquo;m doing another one. Because I&rsquo;m good at solving wars. I&rsquo;m good at making peace, and it&rsquo;s an honor to do it. I save millions of lives. Millions of lives,&rdquo; he said. &ldquo;In all fairness to the Nobel committee, it was for 2024 and this was picked for 2024. But there are those who say you can make an exception because a lot of things happened during 2025 that are done and complete and great. But I did this, not for Nobel; I did this for saving lives. We saved millions of lives. Think about India-Pakistan. Think about some of the wars that were going on for years. We had one going for 31, one going for 37 years, with millions of people being killed in every country, and I got everyone of those done, for the most part within a day. Pretty good!&rdquo; &nbsp; &nbsp; &nbsp; &nbsp; Overnight attack repulsed by Pakistan forcesPresident Trump was referring to the border clashes that took place between the Pakistan military and Afghan forces on the night of Oct.11. The Pakistan military said the overnight assault saw Afghan Taliban fighters and allied militants launch &ldquo;unprovoked&rdquo; coordinated attacks along multiple border sectors.&nbsp; Pakistani forces repelled the offensive, killing over 200 attackers and injuring hundreds of others, while 23 Pakistan soldiers embraced martyrdom, according to the military&rsquo;s media wing, the Inter-Services Public Relations. Pakistan desires of peace&nbsp;In a statement issued later by the foreign office, Pakistan reiterated its long-standing desire for peace and stability in Afghanistan, emphasizing that Islamabad sought &ldquo;a peaceful, stable, friendly, inclusive, regionally connected, and prosperous Afghanistan.&rdquo; &ldquo;Pakistan expects the Taliban regime to act responsibly, honor its commitments, and play a constructive role in achieving the shared objective of rooting out terrorism from its soil,&rdquo; the statement said.

Asia

During a media interaction aboard Air Force One, US President Trump, while speaking about his efforts in resolving global conflicts, said he would address Pak-Afghan tensions upon returning from his trip to the Middle East.