Faraz Saeed

LAHORE: Pakistan&rsquo;s latest negotiations with the International Monetary Fund (IMF) ended on Wednesday without a staff-level agreement (SLA), briefly delaying the release of around $1.25 billion in loan tranches. Despite the setback, both sides reported &ldquo;significant progress,&rdquo; fueling expectations that a deal will be reached within weeks. The IMF mission concluded its 11-day visit under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF), totaling $8.4 billion. The discussions covered the second EFF review and the first RSF review. While no SLA was finalized, statements from Islamabad and the IMF indicated a constructive tone, suggesting that remaining technical issues will soon be resolved. According to officials involved, the IMF has sought higher provincial budget surpluses and a downward revision of the Federal Board of Revenue&rsquo;s (FBR) annual collection target, factoring in the economic impact of recent floods. Punjab is expected to contribute Rs740 billion [$2.64 billion] to the surplus, followed by Sindh, Rs370 billion [$1.32 billion], Khyber Pakhtunkhwa, Rs220 billion [$0.79 billion], and Balochistan, Rs185 billion [$0.66 billion]. The Fund has also requested verified estimates of flood-related losses and assurances that provincial governments can absorb recovery costs without breaching fiscal targets. Notably, the IMF mission did not hold a formal wrap-up meeting with Finance Minister Muhammad Aurangzeb, an unusual, though not unprecedented, indication that talks have entered a sensitive technical phase. The visiting team, led by Mission Chief Iva Petrova, did not issue its customary end-of-mission statement, and the IMF&rsquo;s local office declined to comment. The next round of discussions is expected during the IMF-World Bank Annual Meetings in Washington, where Minister Aurangzeb will lead Pakistan&rsquo;s delegation. Market analysts remain cautiously optimistic. &ldquo;The IMF mission&rsquo;s acknowledgment of significant progress is encouraging,&rdquo; Waqas Ghani, head of research at JS Global, told Pakistan TV Digital. &ldquo;The Fund appears to be seeking stronger, time-bound commitments before finalizing the staff-level agreement. In previous reviews, the SLA often followed a few weeks after the mission&rsquo;s conclusion.&rdquo; Economist Dr. Ikram ul Haq shared a similar view but pointed to underlying structural weaknesses. &ldquo;The staff-level agreement will happen; it&rsquo;s only a matter of time,&rdquo; he said. &ldquo;However, the IMF has flagged discrepancies in trade data amounting to billions of dollars. Pakistan must address under-invoicing, rationalize tariffs, and broaden the tax base, including taxing agricultural income of absentee landowners.&rdquo; The IMF later released a brief statement confirming &ldquo;significant progress&rdquo; toward reaching an SLA on the second EFF review and first RSF review, noting that &ldquo;program implementation remains strong and broadly aligned with the authorities&rsquo; commitments.&rdquo; In parallel, the government notified draft amendments to the Sharing of Assets of Civil Servants Rules, 2023, requiring Grade 17 and above officers to submit electronic declarations of assets and income through the FBR. While armed forces personnel remain exempt, banks must establish secure data channels, part of broader governance reforms under IMF conditionalities. With most macroeconomic targets reportedly met, the remaining gaps appear procedural. Officials expect the SLA to be finalized within weeks, paving the way for IMF board approval and disbursement by late November or early December. For Pakistan, the stakes are high: securing the $1.25 billion tranche would ease external financing pressures, stabilize the rupee, and strengthen market confidence ahead of a politically sensitive budget season. As the IMF team departs and technical work continues virtually, the real challenge for Pakistan lies not just in signing the deal &mdash; but in sustaining the reforms once the funds begin to flow.

Economy

Analysts say the IMF’s acknowledgment of “significant progress” reflects confidence in Pakistan’s reform efforts, predicting a staff-level agreement within weeks that could unlock $1.25 billion and bolster market stability ahead of the next budget.

IMF, Pakistan close to staff-level agreement after constructive talks

LAHORE: As South Asia braces for another smog-filled winter, Pakistan&rsquo;s eastern Punjab province has launched a major campaign to combat one of the world&rsquo;s worst seasonal air pollution crises. In a first for the region, the provincial government has deployed anti-smog cannons across major cities, including Lahore, to disperse toxic particles before they reach hazardous levels. The high-pressure cannons spray ultra-fine mist into the air, trapping pollutants such as PM 2.5 and forcing them to the ground. Officials hope the technology will prevent a repeat of last year&rsquo;s environmental emergency, when thick smog blanketed the province and choked millions of residents. &ldquo;This is not just about cleaning the skies, it&rsquo;s about protecting the health and future of our people,&rdquo; Punjab Chief Minister Maryam Nawaz said while unveiling the new anti-smog system last week. The initiative is part of a broader anti-pollution strategy that also includes Punjab&rsquo;s first real-time smog early warning system, giving residents live Air Quality Index (AQI) data and forecasts. Authorities say this tool will help citizens take preventive steps, such as limiting outdoor activity and wearing protective masks, while enabling faster government responses as pollution levels rise. Stronger enforcement and drone surveillanceSpeaking to Pakistan TV Digital, Dr. Zafar Iqbal, additional director general of the Environment Protection Agency (EPA) Punjab, said this year&rsquo;s anti-smog drive is backed by unprecedented resources and technology. &ldquo;In comparison to 2024, the Punjab government has provided ample support by increasing both human and logistic resources,&rdquo; Dr. Iqbal said. &ldquo;We now have a dedicated Environment Protection Force fighting against the smog crisis.&rdquo; The EPA, he added, has deployed drone surveillance to identify and monitor pollution sources such as illegal emissions and stubble burning. Following the installation of new emission control systems, several major sources of industrial pollution have already been curtailed. To bolster its arsenal, the province has purchased 15 anti-smog cannons and eight new air-quality monitors for real-time air data across key urban centers. Dr. Iqbal noted that cross-border pollution remains a major concern, particularly smog drifting into Lahore from across the Indian border. &ldquo;Since India is also a major source of smog over Lahore&rsquo;s skies, we plan to use these smog guns to fight off the incoming clouds and shield our citizens,&rdquo; he said. Health concerns mount as air quality deterioratesDespite the government&rsquo;s efforts, health experts warn that Lahore&rsquo;s air quality, already among the 15 most polluted cities worldwide, is deteriorating earlier than expected this season. AQI readings have climbed from 92 last week to over 150, a level considered &ldquo;unhealthy&rdquo; for all populations. &ldquo;This air is already harmful to breathe,&rdquo; Dr. Ayesha Malik, a pulmonologist based in Lahore, told Pakistan TV Digital. &ldquo;Early spikes in PM 2.5 are dangerous, especially for children, the elderly, and people with respiratory conditions.&rdquo; Global implications of a regional crisisLast winter&rsquo;s smog crisis was one of the worst on record. Satellite images from NASA showed a vast pollution cloud stretching from Lahore to New Delhi. Air-quality levels in parts of Punjab reached 1,200 AQI, four times higher than the &ldquo;hazardous&rdquo; threshold. Schools were closed, transport ground to a halt, and hospitals were overwhelmed with patients struggling to breathe. UNICEF estimated that more than 11 million children under five were exposed to toxic air during the peak weeks. Government data shows nearly two million people sought medical care for respiratory issues in a single month. A grim reminder of the scale of the problem. The long shadow of smogInternational studies warn that prolonged exposure to PM 2.5 can shorten life expectancy by up to five years in heavily polluted regions. Research from Harvard University and the World Health Organization links such exposure to chronic respiratory diseases, heart conditions, and premature deaths. As Punjab&rsquo;s new anti-smog systems and environmental enforcement teams swing into action, experts say the real test will come in November, when pollution typically peaks. For millions living under grey skies, the government&rsquo;s technological offensive offers a glimmer of hope, but only if it&rsquo;s matched by sustained policy reforms in industry, energy, and agriculture.

Climate & Environment

Officials hope technology will prevent a repeat of last year’s environmental emergency; initiative is part of a broader anti-pollution strategy that also includes Punjab’s first real-time smog early warning system.


Pakistan deploys anti-smog cannons in Punjab as toxic air threatens millions again 

ISLAMABAD: Pakistan&#39;s market strategists on Wednesday termed the rise of gold unusually intense as the metal soared past the historic threshold of $4,000 per troy ounce.&nbsp; Once regarded primarily as a safe-haven asset, gold has become an all-weather investment, with price climbing by more than 50% in 2025.&nbsp; Analysts believe the rally is far from over. Several forces have converged to propel this surge.&nbsp; The return of US President Donald Trump to the White House at the start of the year brought political uncertainty into the world&rsquo;s largest economy.&nbsp; His renewed trade wars in April and public clashes with the Federal Reserve in August rattled markets, encouraging investors toward the security in gold.&nbsp; Similarly, the political upheaval in Japan, where Sanae Takaichi&rsquo;s election victory triggered a sell-off in the yen, a prolonged government shutdown in Washington, and a deepening crisis in France following the resignation of Prime Minister Sebastien Lecornu have all added to the sense of global unease.&nbsp; Unlike previous crises, gold&rsquo;s rise this year has coincided with record highs in US stock indices such as the S&amp;P 500, suggesting that investors increasingly view the metal as a core holding item rather than merely a hedge against falling equities. This shift in perception has emboldened leading financial institutions to revise their expectations.&nbsp; In a research report released on Monday, Goldman Sachs lifted its forecast for December 2026 from $4,300 per ounce to $4,900, citing strong inflows into Western exchange-traded funds and persistent gold purchases by central banks as powerful drivers that could keep prices climbing over the next 12 to 18 months. Strategists describe the rally as unusually intense.&nbsp; &ldquo;The market has entered a &lsquo;feeding frenzy&rsquo; phase where central banks, funds, and retail investors are all in, and naturally, few are willing to sell winning positions, which is keeping upside momentum intact,&rdquo; said Waqas Ghani, head of research at JS Global. &nbsp;&ldquo;Gold has already surged 50% in 2025 and is now eyeing US $4,500. Silver is also pushing toward its 2011 highs and could continue surging if the breakout continues, as long-term projections suggest. That said, early signs of profit-taking are emerging in intraday action, hinting at rising volatility ahead. Short-term pullbacks are likely after such steep moves, but the broader uptrend remains firmly in place.&rdquo; For Alishba Samual, head of research at Khawaja Securities, the rally has deeper macro-economic roots.&nbsp; &ldquo;Persistent inflation across major economies is a primary driver. As the purchasing power of fiat currencies erodes, investors are turning to gold as a hedge,&rdquo; she said.&nbsp; &ldquo;Central banks&rsquo; attempts to curb inflation through interest-rate hikes have introduced volatility into equity markets, further increasing gold&rsquo;s appeal. Geopolitical conflicts, a softer US dollar, and sustained central-bank accumulation of gold reserves are all reinforcing demand.&rdquo; While global investors may welcome these gains, in Pakistan, the rally has delivered a socio-economic shock. Local bullion prices have surged to ₨ 425,000&nbsp;($1,504) per tola, compared with just ₨ 105,000 ($372) to ₨ 140,000 ($495) only a few years ago.&nbsp; This escalation, combined with previous years of inflation and overall slowdown in growth, has put gold far beyond the reach of many households.&nbsp; Jewelers across the country report an 80 to 90% decline in sales, saying that most customers now either recycle old ornaments or switch to cheaper alternatives such as artificial jewelry, for which the sales have risen sharply.&nbsp; Whether it&#39;s Lahore&rsquo;s famous Liberty market or Anarkali bazaar, the demand for yellow metal has shrunk, and artificial jewelry outlets are booming.&nbsp; The effects are being felt most acutely in Pakistani weddings, where gold ornaments are an integral part of cultural and social tradition, often seen as a symbol of honor for the bride&rsquo;s family.&nbsp; Families like that of Mehrbano Siddiqui and Arfa Karim, preparing for their son&rsquo;s wedding, find themselves squeezed between social expectation and financial hardship.&nbsp; Siddique recalls being able to gift each of her two daughters about five tolas of gold in 2021 and 2022, when prices were much lower.&nbsp; Today, she struggles to afford even half that amount and prays to meet tradition without compromising her family&rsquo;s dignity.&nbsp; Karim narrates a similar story.&nbsp; Some customers now ask jewelers to design one- or two-tola sets to appear larger, a poignant sign of how deep-rooted customs are being reshaped by soaring costs. For gold merchants, the crisis is just as severe.&nbsp; Veteran jewelers describe the present downturn as the worst in decades, with many saying their businesses now survive mainly on polishing old pieces or altering stones and pearls for clients who cannot afford new purchases. Gold&rsquo;s historic ascent this year illustrates how the same market forces that enrich global investors can destabilize household finances and disrupt traditions in developing economies.&nbsp; As institutions like Goldman Sachs predict further gains toward $4,900 per ounce by late 2026, Pakistan&rsquo;s experience serves as a reminder that the glitter of a booming commodity can cast long shadows on those least equipped to bear its cost. ($1 = Rupees 282)

Analysts believe the rally is far from over; strategists describe rally as unusually intense. 



Gold boom stuns Pakistan as global prices soar past $4,000

LAHORE: Pakistan aims to raise its Information Technology (IT) exports to $30 billion as part of a broader $100 billion export plan outlined in the Planning Commission&#39;s blueprint, following directives from Prime Minister Shehbaz Sharif. The&nbsp;Country Planning Commission initially outlined the blueprint for the goal. However, it came under the spotlight following PM Sharif&#39;s directives to draw up a dedicated roadmap. Presently, IT exports stand at around $3.8 billion, underlining both the scale of the challenge and the scope of opportunity. Industry leaders believe the $30 billion mark is achievable but warn it depends on policy stability, infrastructure reliability, and sustained investment in talent. &ldquo;The dream is a possibility,&rdquo; the Chief Executive Officer of NetSol Technologies, Salim Ghauri, said while speaking to Pakistan TV Digital. Ghauri emphasized the importance of training in artificial intelligence (AI), noting that his company has already introduced AI courses. Drawing on his book &ldquo;Impossible is Nothing&rdquo;, he recalled NetSol&rsquo;s rise from a small team three decades ago to a global firm. &ldquo;If we could do that, then imagine what Pakistan can do now,&rdquo; he said. Agha Abdul Rehman, Project Director at the National Incubation Center Lahore, speaking to Pakistan TV Digital, echoed the optimism while citing comparative data. Referring to a study by the global venture capital firm Antler, Rehman noted that Indonesia&rsquo;s tech sector expanded 27 times between 2014 and 2021. &ldquo;If our ecosystem is similar, achieving nine-times growth and reaching $30 billion is not impossible,&rdquo; he said. However, Rehman cautioned that geopolitical uncertainties, inconsistent policymaking, and the trend of startups incorporating offshore remain significant hurdles.&nbsp;For IT entrepreneur Kanwal Cheema, Pakistan&rsquo;s youth bulge is its biggest advantage.&nbsp;&ldquo;We are the sixth youngest population in the world,&rdquo; she said, adding that existing training programs and Pakistan&rsquo;s low-cost base compared to India could help the country compete globally. Cheema stressed, however, that political will is decisive, citing Bangladesh&rsquo;s rapid IT export growth, which was achieved within six years after it was made a prime-ministerial priority. &ldquo;If Pakistan does the same, $30 billion is not difficult,&rdquo; Cheema said.

Pakistan aims to boost IT exports from $3.8 billion to $30 billion, with industry leaders urging policy stability, AI training and supportive regulation. Experts cite youth demographics and regional examples but warn of structural and geopolitical hurdles.

From blueprint to reality: Can Pakistan’s IT industry hit $30 billion?

LAHORE: The Pakistan Stock Exchange (PSX) climbed to a record high on Thursday, with its benchmark KSE-100 index closing above 168,000 points for the first time, driven by substantial gains in the banking sector and renewed investor optimism.&nbsp;The index surged 2,849 points, or 1.72%, to finish at 168,489.63, extending a rally that has lifted the market more than 105% over the past year. Market capitalization reached $69.9 billion, underscoring the scale of the advance.&nbsp;Trading activity was robust, with 1.57 billion shares traded and turnover hitting Rs70.1 billion. The Bank of Punjab topped the volume board, with 148 million shares changing hands.&nbsp;Brokerage firm K-Trade Securities described it as &ldquo;a strong banking day,&rdquo; noting that major lenders, including Meezan Bank, United Bank, Bank Al Habib, Habib Bank, and National Bank of Pakistan, together contributed 1,827 points to the index.&nbsp;Waqas Ghani, research head at JS Global, said the uptrend reflected a combination of improving fundamentals and liquidity.&nbsp;&ldquo;The market rally is being fueled by improving macro-economic stability, strong corporate earnings momentum, and renewed investor confidence. Liquidity remains ample, supporting broad-based participation across key sectors,&rdquo; he told Pakistan TV Digital.&nbsp;Dr Yasir Mahmood, CEO of Yasir Mahmood Securities, pointed to geopolitics as an additional driver: &ldquo;Positive macro-economic and geopolitical developments, including the Pakistan-Saudi defence cooperation agreement, have reinforced investor sentiment.&nbsp;The government&rsquo;s circular-debt reduction plan for the energy sector and the recent improvement in Pakistan-United States relations also lifted confidence.&rdquo;&nbsp;Topline Securities said in a note that &ldquo;stocks closed on a strong upward trajectory largely fueled by continued aggressive buying from mutual funds.&rdquo; However, it added that profit-taking in Lucky Cement, Hub Power, and Systems Limited trimmed 192 points from overall gains.&nbsp;Analysts believe the surge highlights renewed foreign interest in Pakistan&rsquo;s equities, progress on reforms, and strengthening international partnerships. These factors are positioning the KSE-100 as one of the world&rsquo;s strongest-performing indices in 2025.

Pakistan’s KSE-100 index hit a record 168,490 points, rising 105% in a year, as banking stocks led gains. Analysts cited “macro-economic stability, strong earnings, and renewed investor confidence” alongside geopolitical and reform-driven optimism fueling momentum.

Pakistan stocks soar on banking gains, investor confidence

LAHORE: The Pakistan Stock Exchange (PSX) closed the week on a record-breaking note Friday, with the benchmark KSE-100 Index settling at an all-time high of 162,257 points, buoyed by improved sentiment following Prime Minister Shehbaz Sharif&rsquo;s meeting with US President Donald Trump.&nbsp;The market rallied strongly throughout the session, gaining nearly 3,000 points compared to Thursday&rsquo;s close of 159,280. Buying interest was broad-based, led by stocks in cement, commercial banks, oil and gas exploration companies, OMCs, power, and refineries.&nbsp;The positive momentum continued after PM Sharif&rsquo;s early Friday meeting with Trump at the White House, where he was accompanied by Pakistan&#39;s army chief, Field Marshal Syed Asim Munir. The Prime Minister thanked Trump for a tariff arrangement concluded earlier this year and invited US firms to invest in Pakistan&rsquo;s agriculture, IT, minerals, and energy sectors.&nbsp;&ldquo;Improved external and fiscal balances under the IMF programme have provided much-needed confidence in macro stability,&rdquo; Waqas Ghani, Head of Research at JS Global, told Pakistan TV Digital. &ldquo;Corporate earnings prospects remain upbeat, particularly in cyclicals, and liquidity continues to drive momentum.&rdquo;&nbsp;Irfan Saeed, Regional Head at Munir Khanani Securities, said the record close reflects &ldquo;a convergence of strong fundamentals, upbeat corporate earnings, and fresh optimism after the Trump&ndash;Sharif meeting.&rdquo; He noted that expectations of investment from the Middle East, particularly in oil, gas, and minerals, have further strengthened sentiment.&nbsp;He added that the oil and gas sector has been pivotal in driving the rally, with the recent settlement of circular debt injecting liquidity and boosting investor confidence.&nbsp;The week&rsquo;s performance cements PSX&rsquo;s position among the best-performing regional markets, with analysts expecting the bullish trend to continue in the near term.

The PSX closed the week at a record 162,257 points, soaring after the Donald Trump, Shehbaz Sharif meeting in Washington boosted sentiment. Analysts credit IMF-backed stability, strong liquidity, and Middle East investment hopes for driving the rally.

Pakistani stock market ends week at record high after Trump-Sharif meeting

Pakistan has formally launched the licencing process for cryptocurrency exchanges, marking a key milestone for the country&rsquo;s digital finance sector. With over 40 million users trading nearly $300 billion annually in the shadows, the move marks a historic shift from underground activity to a regulated digital-finance market. The government says this will boost investor trust, attract foreign capital, and make remittances faster and cheaper, setting the stage for a $300 billion crypto revolution.

Shorts

Pakistan has launched licensing for cryptocurrency exchanges, shifting a $300 billion shadow market into regulation. Officials say the move will boost investor confidence, attract foreign investment, and streamline remittances for over 40 million users.

$300B Revolution: Crypto goes legit in Pakistan government rolls out licences

LAHORE: Step through a 400-year-old Mughal gateway, and you enter a world where history and flavor intertwine. Lahore&rsquo;s Fort Road Food Street, nestled between the iconic Badshahi Mosque and Lahore Fort, is more than just a culinary destination &mdash; it&rsquo;s a vibrant celebration of the city&rsquo;s rich heritage and bold tastes. Situated in the heart of the Walled City, once the seat of the Mughal Empire, the street comes alive every evening. The air fills with the scent of sizzling seekh kebabs, fiery chargha, and sweet jalebis. Lanterns flicker overhead as rooftop restaurants buzz with the clatter of plates and laughter. &ldquo;This isn&rsquo;t just food, it&rsquo;s history,&rdquo; says a local chef who has been grilling at the same stall since the street&rsquo;s revival in 2012. His menu reads like a love letter to Lahori cuisine, featuring reshmi kebabs, malai boti, takka tak, mutton chaamp, and more. Foreign visitors come for the food but stay for the atmosphere, drawn to the street&rsquo;s timeless charm. Fort Road Food Street has become a cultural landmark. Diplomats, travel vloggers, and expatriates frequent its rooftops, eager to sample authentic Pakistani fare with a stunning view. Professor Muhammad Suzuri from Malaysia described the experience as &ldquo;a paradise of food beyond comprehension,&rdquo; captivated by the blend of Mughal architecture and culinary artistry. Returning Pakistani expatriates are often moved by the familiarity. One Australian visitor called it &ldquo;stepping back in time,&rdquo; praising the iconic Haveli restaurant for preserving the flavors and ambiance of a bygone era. Behind the food lies a thriving economy. The street provides hundreds of jobs, from chefs and servers to waiters balancing trays on rooftops in the evening breeze. Local businesses prosper, tourism flourishes, and Lahore&rsquo;s famed hospitality takes center stage. Haveli, the street&rsquo;s crown jewel, can host up to 800 guests and serves both traditional and continental dishes. &ldquo;We&rsquo;ve hosted diplomats from the US, China, and Korea,&rdquo; says manager Hamza. &ldquo;They all agree: this is where you taste Pakistan.&rdquo; As dusk falls and the call to prayer echoes from the mosque, Fort Road Food Street offers more than a meal. It offers a memory &mdash; a place where the past is savored, and the soul of Lahore is served on every plate.

In eastern Pakistan, centuries-old Mughal charm blends with bold local flavors, drawing tourists, diplomats, and food lovers to a rooftop-dining haven beside the iconic Badshahi Mosque.

Culture

Lahore's food street: A celebration of history and flavor

ISLAMABAD: Floods have devastated Pakistan&rsquo;s agriculture, wiping out millions of acres of farmland in eastern Punjab province and threatening southern Sindh, causing losses of more than $1 billion and prompting urgent calls for an agricultural emergency.&nbsp;The Provincial Disaster Management Authority (PDMA) reported that 1.8 million acres of crops in Punjab were submerged, while farmer organizations estimate the figure closer to 2.5 million acres, mostly in central and southern districts.&nbsp;PDMA also stated that 4.28 million people have been affected by the floods, with 2.26 million evacuated from submerged areas.&nbsp;A preliminary assessment by the Pakistan Business Forum estimates that 60% of the rice crop, 35% of cotton, and 30% of sugarcane have been wiped out.&nbsp;In a letter to Prime Minister Shehbaz Sharif, the forum warned that Sindh province may soon face similar devastation if preventive measures are not implemented.&nbsp;Farmers&rsquo; groups report even greater financial damage. Akhtar Farooq Meo of the Kissan Board Pakistan cited losses amounting to Rs536 billion ($1.89 billion), pointing to the destruction of cotton, rice, sesame, maize, and fodder crops.&nbsp;Khalid Hussain Bath, president of Kissan Ittehad Pakistan, said nearly 2.5 million acres of cultivated land have been wiped out, raising concerns about food shortages in the flood-affected regions.&nbsp;Independent assessments emphasize the scale of the crisis. Brokerage firm Arif Habib Limited (AHL) projected the total cost of the 2025 floods at Rs409 billion ($1.4 billion), equal to 0.33% of Pakistan&rsquo;s GDP. Agriculture accounts for the bulk of losses, exceeding Rs302 billion ($1.0 billion), or 0.24% of GDP, nearly three-fourths of the overall impact.&nbsp;After a 6.2% growth in fiscal year 2022, Pakistan&rsquo;s GDP contracted by 0.2% in 2023 before rebounding to 2.5% in 2024.&nbsp;Pre-flood projections for fiscal year 2026 growth stood at 3.4%, but analysts have revised this down to 3.2%, as agriculture&rsquo;s contribution is expected to fall sharply from 2.2% to 1.1%.&nbsp;The agricultural sector, which comprises nearly a quarter of GDP and employs 40% of the workforce, was already struggling. Agriculture grew just 0.56% in 2024, the weakest in almost a decade and far below the five-year average of 3.38%. Analysts warn the floods could further drag down growth, compounding economic pressures.&nbsp;However, officials cautioned against premature conclusions. An official from the National Disaster Management Authority (NDMA) told Pakistan TV that the agency has not yet been tasked with assessing the full extent of losses and &ldquo;no such survey has been carried out so far.&rdquo; PDMA Director Hameed Ullah Malik also said it was &ldquo;too early to endorse any assessment&rdquo; since large parts of southern Punjab remain underwater.&nbsp;Meanwhile, Punjab Chief Minister Maryam Nawaz announced a flood relief package, pledging Rs1 million ($3,521) for the heirs of those killed and Rs1 million for homeowners who lost property. Partially damaged homes will receive Rs500,000 ($1,760). Livestock owners will also be compensated, Rs500,000 for large animals and Rs50,000 ($176) for small animals.&nbsp;At the federal level, the cabinet chaired by Prime Minister Shehbaz Sharif declared a climate and agriculture emergency and formed a special committee under Planning Minister Ahsan Iqbal to propose economic recovery measures.

Residents travel on a boat with their supplies, through a flooded area, following monsoon rains and rising water levels of the Indus River, in Ghano Khan Jatoi village in Dadu district, Sindh province, Pakistan, September 12, 2025. REUTERS/Akhtar Soomro

Floods devastate Pakistan’s farmland, destroying millions of acres, wiping out crops, and triggering a potential over $1 billion economic loss across agriculture.

Floods ravage Pakistan’s farmlands, causing $1 billion in losses

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

Web Desk

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. 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 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.

‘I’ll have to wait till I get back’: Trump on Pakistan, Afghan Taliban clashes 

Reuters/AP

TEL AVIV:&nbsp;Hamas handed over the 20 surviving Israeli hostages to the Red Cross&nbsp;on Monday&nbsp;in two separate groups, as part of a Gaza ceasefire deal. News agencies quoting Israel&rsquo;s public broadcaster reported Hamas had handed over all 20 surviving Israeli hostages to Red Cross representatives, with a second group of 13 hostages transferred in Khan Younis in the southern Gaza Strip. Hamas on Monday published a list of 20 names, and shortly afterwards handed over the first seven hostages to Red Cross representatives in Gaza City. Earlier, President Donald Trump arrived in Israel to celebrate the US-brokered ceasefire and hostage deal between Israel and Hamas, an agreement that he declares has effectively ended the war and opened the door to building a durable peace in the Middle East. The moment remains fragile, with Israel and Hamas still in the early stages of implementing the first phase of the plan, which includes the release of Israeli hostages that have been held since the Oct. 7, 2023 attack by Hamas-led militants. With families overjoyed at the impending reunions and Palestinians eager for a surge of humanitarian assistance, Trump thinks there is a narrow window to reshape the region and reset long-fraught relations between Israel and its Arab neighbors. &ldquo;The war is over, OK?&rdquo; Trump told reporters traveling with him aboard Air Force One. &ldquo;I think people are tired of it,&rdquo; he said, emphasizing that he believed the ceasefire would hold because of that. Seven hostages arrive in Israel&nbsp;Hamas released seven of the 20 Israeli hostages into the custody of the Red Cross on Monday morning, the first group to be released as part of a ceasefire in the Israel-Hamas war. There was no immediate information on their condition. The International Committee of the Red Cross said on Monday it had begun &ldquo;a multi-phase operation&rdquo; to oversee the release of hostages held in Gaza and Palestinian prisoners held by Israel in the key exchange of the breakthrough ceasefire after two years of war.&nbsp; Israelis on Monday prepared to welcome home the last 20 living hostages from devastated Gaza and mourn the return of the dead. All 1,966 Palestinian detainees slated for release on Monday have boarded buses at Israeli prisons, an official involved in the operation told Reuters. Palestinians awaited the release of hundreds of prisoners held by Israel. US President Donald Trump was arriving in the region along with other leaders to discuss the US-proposed deal and postwar plans. A surge of humanitarian aid was expected into famine-stricken Gaza, where hundreds of thousands of people have been left homeless. While major questions remain about the future of Hamas and Gaza, the exchange of hostages and prisoners marked a key step toward ending the deadliest war ever between Israel and the militant group. Living hostages expected first&nbsp;Hamas released a list early Monday morning of the 20 living hostages it will free as part of the ceasefire, and a list of over 1,900 Palestinian prisoners it said will be released by Israeli authorities. The International Committee of the Red Cross was moving toward a site to collect several hostages held by Hamas in the northern Gaza Strip, the Israeli military said. The Israeli army said others would be released later. Major Israeli TV stations were airing special overnight broadcasts ahead of the hostages&#39; release as anticipation grew. People began to gather near a large screen in Hostages Square in Tel Aviv before dawn. &ldquo;It&rsquo;s very exciting,&rdquo; said Meir Kaller, who spent a sleepless night there. The hostages&#39; return caps a painful chapter for Israel. Since they were captured in the October 2023 Hamas attack that ignited the war, newscasts have marked their days in captivity, and Israelis have worn yellow pins and ribbons in solidarity. Tens of thousands have joined their families in weekly demonstrations calling for their release. As the war dragged on, demonstrators accused Prime Minister Benjamin Netanyahu of dragging his feet for political purposes, even as he accused Hamas of intransigence. Last week, under heavy international pressure and increasing isolation for Israel, the bitter enemies agreed to the ceasefire. With the hostages&rsquo; release, the sense of urgency around the war for many Israelis will be effectively over. Israel expects the living hostages to be released together on Monday. They will be handed to the International Committee of the Red Cross and then to the Israeli military, which will take them to the Reim military base to be reunited with families. It is unlikely that the remains of up to 28 other hostages will be returned at the same time. An international task force will work to locate deceased hostages who are not returned within 72 hours, said Gal Hirsch, Israel&rsquo;s coordinator for the hostages and the missing. The timing has not been announced for the release of Palestinian prisoners. They include 250 people serving life sentences for convictions in attacks on Israelis, in addition to 1,700 seized from Gaza during the war and held without charge. They will be returned to the West Bank or Gaza or sent into exile. While Israel considers the prisoners to be terrorists, Palestinians view them as freedom fighters against Israeli occupation. Israel has warned Palestinians in the West Bank against celebrating after people are released, according to a prisoner&rsquo;s family and a Palestinian official familiar with the plans. They spoke on condition of anonymity because they feared retribution. Red Cross vehicles were seen driving in both Gaza and Israel early Monday. Trump in Israel, Egypt&nbsp;Trump was first visiting Israel, where a White House schedule said he would meet with families of the hostages and speak at the Knesset, Israel&rsquo;s parliament. Vice President JD Vance said Trump was likely to meet with newly freed hostages. &ldquo;The war is over,&rdquo; Trump asserted to reporters as he departed, adding he thought the ceasefire would hold. Trump will continue to Egypt, where President Abdel Fattah el-Sissi&#39;s office said he will co-chair a &ldquo;peace summit&rdquo; on Monday with regional and international leaders. Mahmoud Abbas, leader of the internationally recognized Palestinian Authority, will attend, a judge and adviser to Abbas, Mahmoud al-Habbash, told The Associated Press. Netanyahu has rejected any role in postwar Gaza for Abbas, though the US plan leaves the possibility open if the Palestinian Authority undergoes reforms. Hamas seized control of Gaza in 2007. Other key questions in the ceasefire deal remain unresolved, including the future governance of Gaza and the funding for a billion-dollar reconstruction process. Israel wants to ensure that the weakened Hamas disarms, and Netanyahu has warned that Israel could do it &ldquo;the hard way.&rdquo; Hamas refuses to disarm and wants to ensure Israel pulls its troops completely out of Gaza. The Israeli military has withdrawn from much of Gaza City, the southern city of Khan Younis, and other areas. Troops remain in most of the southern city of Rafah, towns of Gaza&rsquo;s far north, and the wide strip along Gaza&rsquo;s border with Israel. Under the US plan, an international body will govern Gaza, overseeing Palestinian technocrats running day-to-day affairs. Hamas has said that Gaza&rsquo;s government should be worked out among Palestinians. The plan calls for an Arab-led international security force in Gaza, along with Palestinian police trained by Egypt and Jordan. It said Israeli forces would leave areas as those forces deploy. About 200 US troops are now in Israel to monitor the ceasefire. The plan also mentions the possibility of a future Palestinian state, another nonstarter for Netanyahu.

President Donald Trump walks with Israel's President Isaac Herzog, left, and Israel's Prime Minister Benjamin Netanyahu during an arrival ceremony at Ben Gurion International Airport, Monday, Oct. 13, 2025, near Tel Aviv. (AP Photo/Evan Vucci)

Middle East

Hamas hands over hostages to the Red Cross; Israel to free hundreds of Palestinian prisoners in exchange; Donald Trump in Israel, expected to address the Knesset; later, he will attend the Sharm el-Sheikh summit in Egypt, which aims to strengthen peace in Gaza after two years of devastation by Israel.

All 20 surviving hostages arrive in Israel; Trump to address Knesset

<span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 700; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">POZA RICA: The death toll from Mexico&rsquo;s torrential rains rose to 47 on Sunday as the fallout mounted from flooding and landslides throughout the country, with authorities rushing to help affected residents and look for missing people.<span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Days after heavy rains drenched several parts of Mexico, the country saw over the weekend the extension of devastation in some states, where the flooding swept away vehicles and destroyed houses and roads.<figure><img src="https://paktv-assets-7d41fab8.s3.eu-west-2.amazonaws.com/uploads/4f536df9-d91d-4b50-9b5c-33b6b9e0bb72-AP25285857233726.jpg" alt="Damaged vehicles sit in mud after flooding in Poza Rica, Veracruz state, Mexico, Sunday, Oct. 12, 2025. (AP Photo/Felix Marquez)" class="fr-fic fr-dii"><figcaption>Damaged vehicles sit in mud after flooding in Poza Rica, Veracruz state, Mexico, Sunday, Oct. 12, 2025. (AP Photo/Felix Marquez)</figcaption></figure> <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">President Claudia Sheinbaum traveled to several states and announced that the government will conduct a census among affected people to distribute aid. <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Mexico&#39;s Civil Protection agency said as of Sunday night, the heavy rains had killed 18 people in Veracruz state on the Gulf Coast and 16 people in Hidalgo state, north of Mexico City. At least 12 people were killed in Puebla, east of Mexico City. Earlier, in the central state of Quer&eacute;taro, a child died while being caught in a landslide. <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">That toll could still rise as rescue workers continued to dig through sodden villages clogged with mud and debris on Sunday.<img src="https://paktv-assets-7d41fab8.s3.eu-west-2.amazonaws.com/e8c1a4cc-76d6-4bf1-a350-9a1ca933970d.png" style="width: 810px;" class="fr-fic fr-dib fr-fil"> <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Civil Protection said at least 38 people were missing in three different states<span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Authorities have attributed the deadly downpours to two tropical systems that formed off the western coast of Mexico and have since dissipated, Hurricane Pricilla and Tropical Storm Raymond. <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">In Veracruz and Puebla, hundreds of army personnel, police officers, and firefighters conducted rescue operations and set up temporary shelters where stranded residents could find food and medical attention. Thousands of residents across the country were still struggling with a lack of running water and electricity. <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">&ldquo;There are still various communities in Veracruz that find themselves cut off, but fortunately, today they were able to establish air bridges to be able to take food, water, and attend to any sick people,&rdquo; Sheinbaum said on a visit to Veracruz on Sunday. &ldquo;We know that there is a lot of desperation and worry. We&rsquo;re going to get to everyone.&rdquo; <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">Parts of Veracruz state received some 21 inches (54 centimeters) of rain from Oct. 6 to 9. <span style="font-size: 18px; font-family: Arial, Helvetica, sans-serif; color: rgb(0, 0, 0); background-color: rgb(255, 255, 255); font-weight: 400; font-style: normal; font-variant: normal; text-decoration: none; vertical-align: baseline; white-space: pre-wrap;">In Poza Rica, an oil town 170 miles (275 kilometers) northeast of Mexico City, where Sheinbaum spoke with residents in muddy streets, some low-lying neighborhoods saw 12 feet of water or more when the Cazones River jumped its banks Friday.

A Marine helps a woman cross a flooded street in Poza Rica, Veracruz state, Mexico, Sunday, Oct. 12, 2025. (AP Photo/Felix Marquez)

Americas

The death toll rose to 47 on Sunday as the fallout mounted from flooding and landslides throughout the country; authorities were rushing to help affected residents and look for missing people.

Mexico rushes rescue efforts after torrential rains leave 47 dead

HONG KONG: China&#39;s exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high.&nbsp;Customs figures released Monday showed that China&rsquo;s worldwide exports were 8.3% higher than a year earlier, at $328.5 billion, surpassing economists&rsquo; estimates. That was markedly better than the 4.4% year-on-year increase in August.&nbsp;Imports grew 7.4% last month, significantly better than a 1.3% increase by year in August, although a weaker domestic economy and a real estate sector downturn continue to weigh on demand and consumption.&nbsp;China&rsquo;s exports to the United States have fallen for six straight months. In August they dropped 33%.&nbsp;The outlook is cloudy as a truce between Beijing and Washington unravels and both sides hit out with new tariffs and other retaliatory measures.&nbsp;As exports to the United States have come under pressure from US President Donald Trump&#39;s policies aimed at trying to get manufacturers to shift factories to America, China has expanded markets for its products in other regions.&nbsp;Shipments to Southeast Asia grew 15.6% year-on-year in September. Exports to Latin America and Africa were up 15% and 56%, respectively.&nbsp;&ldquo;China&rsquo;s exports continue to show resilience given the low costs and limited choices for replacement globally despite the higher tariffs,&rdquo; said Gary Ng, a senior economist at Natixis.&nbsp;Tensions with the US reignited Friday after Trump threatened an additional 100% tariff on Chinese goods and export controls on &ldquo;critical&rdquo; software.&nbsp;That came after China announced it would hit American ships with new port fees in response to a US plan to impose port fees on Chinese vessels docking in the country. Beijing also extended export controls on lithium-ion batteries and on exports of rare earths and related technologies.&nbsp;The friction could jeopardize plans for a meeting between Trump and Chinese President Xi Jinping in late October. It also suggests a lack of progress in efforts to forge a broad trade agreement between the world&#39;s two biggest economies.

China's exports to the US sink nearly 30% in September as trade truce unravels with new threats of higher tariffs.

China's US exports drop 30% as tariff tensions rise

SYDNEY: Pat Cummins has conceded he&#39;s a doubtful starter for Australia&#39;s Ashes series opener against England in Perth next month.&nbsp;&ldquo;I wouldn&rsquo;t put a percentage on it, but I&rsquo;d say probably less likely than likely,&rdquo; the pace bowler told domestic media Monday. &ldquo;I&rsquo;ve still got a bit of time.&rdquo;&nbsp;The Australia captain has been sidelined for three months with a back stress injury, and speculation has mounted in recent weeks that he&#39;d miss at least the first test, and likely more, of the biggest test cricket series on the 2025 calendar.&nbsp;Cummins said he&#39;s back into physical training and &quot;each session feels better and better.&rdquo;&nbsp;&ldquo;We get into slight bowling prep, I think next week,&quot; he said. &quot;I&rsquo;m probably a couple of weeks away before I actually put on these spikes and bowl on the turf.&quot;&nbsp;The five-test series starts Nov. 21 in Perth, followed by a day-night test in Brisbane from Dec. 4, before the series moves to Adelaide, Melbourne and Sydney.&nbsp;The 32-year-old Cummins has not bowled since Australia&#39;s 3-0 series sweep of the West Indies in the Caribbean in July.&nbsp;&ldquo;The immediate goal is to make sure I&rsquo;m giving myself a chance to be right for as much of (the series) as possible,&rdquo; Cummins said. &ldquo;It&rsquo;s really too early to kind of make some big decisions.&nbsp;&ldquo;With these things, it&rsquo;s pretty hard to go from not bowling or anything at all to suddenly playing five tests. The first step is trying to give us a shot at being (fit), and then we&rsquo;ll work it out a bit closer.&rdquo;&nbsp;Cummins said he wasn&#39;t in serious pain and was trying to increase his workload.&nbsp;&ldquo;A few of the symptoms hung around for a little bit longer than I would have liked,&quot; he said, &ldquo;but they&rsquo;re all gone now.&rdquo;&nbsp;If Cummins is ruled out, Scott Boland is likely to take his place in the pace attack that should include Mitchell Starc and Josh Hazlewood.&nbsp;Australia&#39;s white ball squad is preparing for a series of one-day and Twenty20 internationals against India starting Oct. 19.

Cummins says he's back into physical training and "each session feels better and better.”

Articles by Faraz Saeed