Jamie McGeever

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

Articles

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

Oracle surge pours fuel on fiery AI bubble debate

Web Desk

ISLAMABAD: Bangladesh&rsquo;s Youth and Sports Advisor Dr Asif Nazrul has said there is no conducive atmosphere for Bangladesh to participate in the ICC Men&rsquo;s T20 World Cup in India, citing serious security concerns raised by the International Cricket Council (ICC).&nbsp;According to state-run Bangladesh Sangbad Sangstha (BSS), Dr Nazrul made the remarks on Monday after the Bangladesh Cricket Board (BCB) received a letter from the ICC&rsquo;s security team highlighting potential risks to the Bangladesh team if it travels to India for the tournament. Speaking to reporters at the Bangladesh Football Federation (BFF) Bhaban, Dr Nazrul said the ICC security assessment pointed to three key issues. These include increased security risks if star fast bowler Mustafizur Rahman is part of the squad, potential threats if Bangladeshi supporters move around wearing the national team jersey, and rising security challenges as India approaches its election period. He said these observations clearly demonstrate that conditions are not <a href="https://www.pakistantv.com/article/bangladesh-say-will-not-play-t20-world-cup-matches-if-in-india" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">suitable for Bangladesh to play the T20 World Cup in India</a>. Terming the ICC&rsquo;s stance as &ldquo;bizarre and unrealistic,&rdquo; Dr Nazrul said it is unreasonable to expect Bangladesh to field a team without its leading bowler, restrict fans from wearing national colors, or even consider election-related adjustments simply to participate in a cricket tournament. Dr Nazrul further alleged that the prevailing communal situation in India, along with what he described as a sustained anti-Bangladesh campaign over the past 16 months, has made it impossible for the Bangladeshi team to feel secure. He stressed that cricket should not be controlled by a single market or country, adding that if the ICC truly functions as a global body, it should offer Bangladesh the opportunity to play the T20 World Cup in a neutral venue such as Sri Lanka. The sports adviser said Bangladesh would not accept any compromise on player safety and dignity, adding that the lack of a safe playing environment in India has been clearly established. He concluded by saying that when even Indian cricket authorities indicate concerns about Bangladeshi players&rsquo; participation, it leaves little doubt that there is no viable playing environment for Bangladesh anywhere in India.

Cricket

Says observations made by ICC security team clearly demonstrate that conditions are not suitable for Bangladesh to play the T20 World Cup in India.

No conducive environment to play T20 World Cup in India: Bangladesh adviser

ISLAMABAD: President Donald Trump is keeping the option of military strikes against Iran &ldquo;on the table&rdquo; as his administration weighs how to respond to a severe crackdown on nationwide protests, the White House said Monday.&nbsp;White House Press Secretary Karoline Leavitt told reporters outside the West Wing that air strikes would be among &ldquo;the many, many options&rdquo; available to the commander-in-chief in addressing the unrest and the reported killing of demonstrators on Iran&rsquo;s streets. But she stressed that diplomacy remains Trump&rsquo;s preferred first course of action.&nbsp;Leavitt indicated that messages being received privately from Iranian officials differ from the regime&rsquo;s public stance, and the administration wants to explore those back-channel communications before making a final decision. &ldquo;Diplomacy is always the first option for the president,&rdquo; she said.&nbsp;The comments come amid mounting international furor over protests in Tehran. While there is no official confirmation of the number of people killed, the estimate provided by Norway-based Iran Human Rights (IHRNGO) suggests that at least 648 protesters in Iran have been killed.&nbsp;Although Trump and senior US officials have not ordered military action, the administration has been discussing a wide range of responses, including further sanctions and other pressure tactics, alongside possible cyber operations or assistance to opposition forces. Military strikes remain one of several options under consideration should diplomatic efforts fail or conditions worsen.&nbsp;According to media reports, Trump will consult with senior national security advisers on how best to balance diplomatic channels with the potential for stronger action, underscoring the fragile and uncertain moment in US-Iran relations. Trump slaps tariffs on Iran&#39;s trade partnersThe move comes hours after <a href="https://www.pakistantv.com/article/trump-announces-tariffs-on-countries-doing-business-with-iran" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">Trump</a><a href="https://www.pakistantv.com/article/trump-announces-tariffs-on-countries-doing-business-with-iran" target="_blank" style="color: rgb(0, 0, 0);" rel="noopener noreferrer">&nbsp;announced a 25% tariff</a> on any country doing business with Iran, increasing pressure even as a human rights group released casualty estimates of protesters.<p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'><span style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 18px;'><br style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, &quot;Helvetica Neue&quot;, Arial, sans-serif;"><p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'>There is no official confirmation of the number of people killed. The estimate provided by Norway-based Iran Human Rights (IHRNGO) suggests that at least 648 protesters in Iran had been killed, including nine people under the age of 18.<p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'><br style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, &quot;Helvetica Neue&quot;, Arial, sans-serif;"><p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'>Trump, who has repeatedly threatened Iran with military intervention, said in a social media post on Monday that the new levies would &quot;immediately&quot; hit the Islamic Republic&#39;s trading partners who also do business with the United States.<p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'><br style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, &quot;Helvetica Neue&quot;, Arial, sans-serif;"><p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'>&quot;This Order is final and conclusive,&quot; he wrote, without specifying who they will affect.<p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'><br style="box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, &quot;Segoe UI&quot;, &quot;Helvetica Neue&quot;, Arial, sans-serif;"><p style='box-sizing: border-box; border: 0px solid; margin: 0px; padding: 0px; font-family: Roboto, -apple-system, BlinkMacSystemFont, "Segoe UI", "Helvetica Neue", Arial, sans-serif; color: rgb(0, 0, 0); font-size: 16px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: oklch(0.985 0.002 247.839); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; line-height: 2;'>Iran&#39;s main trading partners are China, Turkey, the United Arab Emirates, and Iraq, according to the economic database Trading Economics.

Americas

Trump slaps 25% tariff on Iran’s trade partners; Press Secretary Leavitt says messages being received privately from Iranian officials differ from the regime’s public stance; administration may explore those back-channel communications before making a decision.

US may carry out air strikes on Iran: White House

ISLAMABAD: China has rejected India&rsquo;s claim over the Shaksgam Valley in the disputed Kashmir region and defended its infrastructure projects there, saying the territory belongs to China and that development activities are being carried out on its own land, Chinese Foreign Ministry spokesperson Mao Ning said at a press briefing in Beijing on Monday. Mao said it was &ldquo;fully justified&rdquo; for China to undertake infrastructure construction in the area and dismissed India&rsquo;s objections to the China-Pakistan Economic Corridor (CPEC). &ldquo;The territory you mentioned belongs to China. It&rsquo;s fully justified for China to conduct infrastructure construction on its own territory,&rdquo; the spokesperson said. &ldquo;China and Pakistan in the 1960s signed a boundary agreement and delimited the boundary between the two countries, which is the right of China and Pakistan as sovereign countries.&rdquo; India&#39;s claim Earlier this month, India criticized Chinese infrastructure projects in the Shaksgam Valley and reiterated that it does not recognize CPEC, asserting that the area is part of Indian territory. At a news conference in New Delhi on Jan. 9, the Indian ministry of external affairs had claimed that the Shaksgam Valley is Indian territory and described the 1963 China-Pakistan boundary agreement as &ldquo;illegal and invalid.&rdquo; Indian officials also said New Delhi reserves the right to take necessary measures to safeguard its interests, according to the Times of India. The Chinese foreign ministry spokesperson&nbsp;rejected that position, saying the boundary agreement and CPEC do not affect China&rsquo;s stance on the Kashmir dispute. &ldquo;The China-Pakistan Economic Corridor, as an economic cooperation initiative, aims at promoting local socioeconomic development and improving people&rsquo;s livelihood,&rdquo; she said, adding that China&rsquo;s position on the Kashmir issue &ldquo;remains unchanged.&rdquo; China and Pakistan launched the China-Pakistan Economic Corridor project in 2015&nbsp;as a flagship economic cooperation initiative to boost connectivity, trade, and development between the two countries. The project aims to connect Pakistan&#39;s Gwadar Port in the south to China&rsquo;s northwestern region of Xinjiang via a network of highways, railways, and pipelines.

Chinese Foreign Ministry spokesperson Mao Ning speaking at a press briefing on January 12, 2026. (Ministry of Foreign Affairs of the People’s Republic of China)

Asia

Beijing rejects India’s objections to its Shaksgam Valley activities as 'fully justified,' asserting the territory belongs to China and that CPEC projects do not alter its position on the Kashmir dispute.

China rejects Indian claim on Shaksgam Valley, CPEC

SYDNEY: Australian firefighters warned people on Monday to prepare for more bushfires in a &quot;high-risk&quot; summer, after blazes killed one person and incinerated more than 350 buildings in the southeast. Weather conditions have eased since strong winds and temperatures topping 40 &deg;C fueled dozens of wildfires in southeastern Australia&#39;s Victoria, which declared a state of disaster on Saturday. But officials said 12 major fires were still burning across the state. Country Fire Authority chief officer Jason Heffernan said another &quot;heating event&quot; was expected towards the end of January, though its intensity was uncertain. &quot;We are early in the high-risk weather season,&quot; Heffernan told a news conference. &quot;There&#39;s been a lot of fire in the landscape. Much work will be done between now and then to contain these fires,&quot; he said. &quot;Whilst we join with the community in the rebuilding and the relief and recovery of the fires that have been, we need to turn our minds to the fires that could be as the season continues.&quot; More than 350 structures, including over 65 homes, have been lost so far in the state, officials said, with the number likely to rise as fire damage is assessed. One person died in a fire near the town of Longwood, about two hours&#39; drive north of the state capital Melbourne, police say. Emergency Management Commissioner Tim Wiebusch said weather conditions had become more favourable for firefighters. &quot;But that doesn&#39;t mean that the risk is over,&quot; he said. &quot;Whilst the conditions are easing in some parts of the state, even the slightest of winds are still causing those fires to move around.&quot; High temperatures and dry winds combined last week to form some of the most dangerous bushfire conditions since the &quot;Black Summer&quot; blazes. The Black Summer bushfires raged across Australia&#39;s eastern seaboard from late 2019 to early 2020, razing millions of hectares, destroying thousands of homes, and blanketing cities in noxious smoke. Australia&#39;s climate has warmed by an average of 1.51 &deg;C since 1910, researchers have found, fuelling increasingly frequent extreme weather patterns over both land and sea.

This handout photo from the CFA Wandong Fire Brigade, posted on their Facebook page, taken on January 7, 2026, and released on January 8, shows a bushfire burning near the town of Longwood, northern Victoria. (AFP)

Wildlife

A high-risk summer is expected, as 12 major blazes burn in Victoria, where fires have killed one person, destroyed over 350 buildings, and followed extreme heat and strong winds last week.

Australian firefighters warn of 'high-risk' bushfire season

NEW DELHI: Afghanistan&#39;s Taliban government has appointed its first senior official in India since the group returned to power in 2021, charged with leading their embassy in Delhi. India has not officially recognized the Taliban government, but the move signals a deepening engagement, with New Delhi seeking to exploit divisions between Islamabad and Kabul. Noor Ahmad Noor, a Taliban foreign ministry official, assumed responsibility as charge d&#39;affaires and has already held meetings with Indian officials, the embassy said in a statement. &quot;Both sides emphasized the importance of strengthening Afghanistan&ndash;India relations,&quot; the Afghan Embassy said, in a post on X late Monday. India has not commented, but the Afghan embassy posted a photograph of Noor with senior Indian foreign ministry official Anand Prakash. The Taliban&#39;s strict interpretation of Islamic law may appear an unlikely match for Prime Minister Narendra Modi&#39;s Hindu nationalist government, but India has sought to seize the opening. Nuclear-armed rivals India and Pakistan fought a brief but deadly clash in May 2025, their worst confrontation in decades. The appointment is significant for the Taliban, which has sought to reclaim control over Afghanistan&#39;s overseas diplomatic missions as part of a broader push for international legitimacy. In October, India said it would upgrade its technical mission in Afghanistan to a full embassy. Russia is the only country to officially recognize the Afghan Taliban government.

The Chargé d’Affaires of the Embassy of Afghanistan in New Delhi, Noor Ahmad Noor, met with Anand Prakash, Joint Secretary of the Pakistan, Afghanistan, Iran (PAI) Division at the Ministry of External Affairs of India. (X/AFGEmbassyINDIA)

India

Afghanistan

The Taliban have appointed their first senior official in India since the group returned to power in 2021, charged with leading their embassy in Delhi.

Afghan Taliban envoy posted to Indian capital

SYDNEY: Australia said on Tuesday its ambassador to the United States is leaving after a three-year tenure overshadowed by President Donald Trump&#39;s verdict on him: &quot;I don&#39;t like you either.&quot; Former prime minister Kevin Rudd, who departs his post on March 31 to become president of the Asia Society think tank in New York, had sharply criticized Trump while he was out of office. Trump expressed disdain for Rudd during a televised US-Australia meeting at the White House in October last year, prompting some Australian opposition calls for his posting to be ended. Prime Minister Anthony Albanese said it was &quot;entirely&quot; Rudd&#39;s decision to step down a year early. &quot;Kevin Rudd has a work ethic unlike anyone I have ever met. He has worked tirelessly. He&#39;s moving on to a role that he believes is pivotal,&quot; he told reporters. The prime minister praised Rudd for his &quot;tireless work&quot; for Australia, including lobbying in favor of the so-called AUKUS agreement to equip Australia&#39;s navy with nuclear-powered submarines. Before taking up his post in Washington, Rudd had described Trump as the &quot;most destructive president in history&quot; and a &quot;traitor to the West&quot; who &quot;drags America and democracy through the mud.&quot; Rudd deleted the online comments after Trump won back the White House in November 2024. At the White House meeting in October, the US president suggested Rudd might want to apologize for his earlier remarks. Turning to Albanese at his side, Trump said, &quot;Where is he? Is he still working for you?&quot; Albanese smiled awkwardly before gesturing to Rudd, who was sitting directly in front of them. Rudd began to explain, &quot;That was before I took this position, Mr. President.&quot; Trump cut him off, saying, &quot;I don&#39;t like you either. I don&#39;t. And I probably never will.&quot; Rudd, a Mandarin-speaking former career diplomat, had been tapped as ambassador during Joe Biden&#39;s presidency, with Australia hoping his expertise on China would gain him influence in Washington.

Australasia

Prime Minister Albanese says it was "entirely" Rudd's decision to step down a year early; Trump has expressed disdain for Rudd during a televised US-Australia meeting at the White House in October last year, prompting some Australian opposition calls for his posting to be ended.

Australia's ambassador to US leaving post, marked by Trump rift

PARIS: US President Donald Trump announced a 25% tariff on any country doing business with Iran, increasing pressure even as a human rights group released casualty estimates of protesters. There is no official confirmation of the number of people killed. The estimate provided by Norway-based Iran Human Rights (IHRNGO) suggests that at least 648 protesters in Iran had been killed, including nine people under the age of 18. Trump, who has repeatedly threatened Iran with military intervention, said in a social media post on Monday that the new levies would &quot;immediately&quot; hit the Islamic Republic&#39;s trading partners who also do business with the United States. &quot;This Order is final and conclusive,&quot; he wrote, without specifying who they will affect. Iran&#39;s main trading partners are China, Turkey, the United Arab Emirates, and Iraq, according to the economic database Trading Economics. Trump has been mulling his options on Iran, which has been roiled by more than two weeks of demonstrations that have defied a near-total internet blackout and lethal force. Sparked by economic grievances, the nationwide protests have grown into one of the biggest challenges yet to the theocratic system that has ruled Iran since the 1979 Islamic revolution ousted the shah. Iranian authorities have blamed foreign interference for stoking the unrest and staged their own nationwide counter-rallies. The White House said Monday that Trump remained &quot;unafraid&quot; to deploy military force against Iran, but was pursuing diplomacy as a first resort. &#39;Four-front war&#39;&nbsp;Iran on Monday sought to regain control of the streets with mass nationwide rallies that Supreme Leader Ayatollah Ali Khamenei hailed as proof that the protest movement had been defeated. In power since 1989 and now 86, Khamenei said the pro-government turnout was a &quot;warning&quot; to the United States. &quot;These massive rallies, full of determination, have thwarted the plan of foreign enemies that were supposed to be carried out by domestic mercenaries,&quot; he said, according to state TV, referring to pro-government demonstrations. In the capital Tehran, state TV showed people brandishing the national flag and prayers read for victims of what the government has termed &quot;riots.&quot; At Enghelab (Revolution) Square, parliament speaker Mohammad Bagher Ghalibaf told the crowd that Iran was fighting a &quot;four-front war,&quot; listing economic war, psychological war, &quot;military war&quot; with the United States and Israel, and &quot;today a war against terrorists&quot; &mdash; a reference to the protests. Flanked by the slogans &quot;Death to Israel, Death to America&quot; in Persian, he vowed the Iranian military would teach Trump &quot;an unforgettable lesson&quot; if attacked. But Trump said Sunday that Iran&#39;s leadership had called him seeking &quot;to negotiate.&quot; Foreign Minister Abbas Araghchi told a conference of foreign ambassadors in Tehran that Iran was &quot;not seeking war but is fully prepared for war,&quot; while calling for &quot;fair&quot; negotiations. Foreign ministry spokesman Esmaeil Baghaei said a channel of communication was open between Araghchi and Trump&#39;s special envoy Steve Witkoff despite the lack of diplomatic relations. Reza Pahlavi, the US-based son of Iran&#39;s ousted shah who has been vocal in calling for protests, told CBS News the government was &quot;trying to trick the world into thinking that (it) is ready to negotiate once again.&quot; He said Trump was &quot;a man that means what he says and says what he means&quot; and who &quot;knows what&#39;s at stake.&quot; &quot;The red line that was drawn has definitely been surpassed by this regime.&quot; &#39;Respect for their rights&#39;&nbsp;State outlets were at pains to present a picture of calm returning in Tehran, broadcasting images of smooth-flowing traffic. Tehran Governor Mohammad-Sadegh Motamedian insisted in televised comments that &quot;the number of protests is decreasing.&quot; Iranian state media has said dozens of members of the security forces have been killed, with their funerals turning into large pro-government rallies. The government has declared three days of national mourning for those killed. The European Union has voiced support for the protesters and on Monday said it was &quot;looking into&quot; imposing additional sanctions on Iran over the repression of demonstrations. The European Parliament also announced that it had banned all Iranian diplomats and representatives from its premises. French President Emmanuel Macron issued a statement condemning &quot;the state violence that indiscriminately targets Iranian women and men who courageously demand respect for their rights.&quot; Tehran&#39;s ally Russia, for its part, slammed what it called attempts by &quot;foreign powers&quot; to interfere in Iran, state media reported, in Moscow&#39;s first reaction to the protests.

Iran's main trading partners are China, Turkey, the United Arab Emirates and Iraq; tariffs announcement comes as Trump mulls possible military action against Iran over the protests.

Trump announces tariffs on Iran trade partners as protest toll rises

BEIRUT: The United Nations Interim Force in Lebanon said an Israeli tank fired near its peacekeepers on Monday, and warned that such attacks were becoming &quot;disturbingly common.&quot; UNIFIL has repeatedly reported Israeli fire near or towards its personnel in recent months, and less than two weeks ago, said gunfire from an Israeli position hit close to peacekeepers twice. &quot;UNIFIL peacekeepers observed two Merkava tanks move&quot; from an Israeli army position inside Lebanese territory &quot;further into Lebanon&quot; on Monday, the force said in a statement. UNIFIL has acted as a buffer between Israel and Lebanon for decades, and recently has been working with Lebanon&#39;s army to support a year-old ceasefire between Israel and fighter group Hezbollah. Under the November 2024 truce, Israel was to withdraw its forces from south Lebanon, but it has kept them in five areas it deems strategic and carries out regular strikes on Lebanon, usually saying it is targeting Hezbollah sites and operatives. &quot;The peacekeepers requested through liaison channels that the tanks stop their activity,&quot; the statement said. Later, &quot;one of the tanks fired three shells from its main gun, with two impacts approximately 150 meters away from the peacekeepers,&quot; UNIFIL said, adding that &quot;as the peacekeepers moved away for safety, they were continuously tracked with a laser from the tanks&quot;. The statement reported no casualties but noted UNIFIL had informed the Israeli army of its activities in the area in advance. &quot;Attacks like these on identifiable peacekeepers ... are becoming disturbingly common,&quot; the statement said, urging a stop to such incidents. It called them &quot;a serious violation&quot; of United Nations Security Council Resolution 1701, which ended a 2006 war between Israel and Hezbollah and forms the basis of the current truce. Under heavy US pressure and fears of expanded Israeli strikes, Beirut has committed to disarming Hezbollah, and last week, Lebanon&#39;s army said it had finished doing so in the area near the border. UNIFIL&#39;s final mandate ends this year, and the force is to leave Lebanon in 2027.

Middle East

UNIFIL says "attacks like these on identifiable peacekeepers ... are becoming disturbingly common"; UNIFIL has acted as a buffer between Israel and Lebanon for decades, and recently has been working with Lebanon's army to support a year-old ceasefire between Israel and the fighter group Hezbollah.

UN force says Israeli tank fired near peacekeepers in Lebanon 

ISLAMABAD: China has confirmed that its exported J-10CE fighter jet has achieved its first combat victory, successfully shooting down multiple enemy aircraft during an aerial engagement without suffering any losses, marking a significant milestone for the Chinese-made combat aircraft. In a statement issued on Monday, China&rsquo;s State Administration of Science, Technology and Industry for National Defense (SASTIND) said the J-10CE&rsquo;s battlefield performance demonstrated the aircraft&rsquo;s operational effectiveness in real combat conditions outside China. &ldquo;The J-10CE fighter jet, exported by China, achieved its first combat success abroad by downing multiple aircraft without incurring any losses,&rdquo; the Chinese defense authority said. The confirmation comes in the wake of the brief but intense Pakistan-India military confrontation in May, during which air power played a central role. Pakistan has previously stated that its air force downed several Indian aircraft during the escalation, while China&rsquo;s acknowledgement underscores the growing operational credibility of its defense exports and Pakistan&rsquo;s reliance on advanced Chinese military technology. According to the US Department of War, Pakistan is currently the only country operating the Chinese-built J-10C fighter jet. The report noted that as of May 2025, 20 additional aircraft were delivered to Pakistan, raising the Pakistan Air Force&rsquo;s J-10CE fleet to 36 jets since 2020. China&rsquo;s state news agency Xinhua described the J-10CE as an &ldquo;all-weather, single-engine, single-seat, multi-role fighter jet&rdquo; independently developed by China to meet modern aerial warfare requirements. Commenting on the aircraft&rsquo;s performance, the Chinese side said the combat outcome reflected both reliability and competitiveness. The J-10CE&rsquo;s &ldquo;combat success abroad fully demonstrates its practicality and usability, highlights its strong competitiveness compared to similar foreign equipment, and promotes Chinese aviation products in the international market,&rdquo; Xinhua quoted Chinese defense officials as saying. Pakistan has stated that during the May confrontation, it shot down seven Indian fighter jets, including three French-made Rafale aircraft. The conflict followed an attack on civilians in Indian-occupied Kashmir, an incident India blamed on Pakistan. A charge Islamabad categorically rejected and has offered &ldquo;independent investigation.&rdquo; The four-day conflict marked the deadliest cross-border fighting since 2019, involving missile, drone, and artillery strikes, before both sides agreed to a US-brokered ceasefire. Addressing the United Nations General Assembly in September, Prime Minister Shehbaz Sharif said Pakistani forces had reduced Indian aircraft to &ldquo;scrap and dust.&rdquo; India, meanwhile, claimed it had shot down five Pakistani fighter jets. A claim Pakistan&rsquo;s Defense Minister Khawaja Asif dismissed as &ldquo;comical.&rdquo; Islamabad and Beijing are long-term strategic allies, bound by strong bilateral ties, deep defense cooperation, and a shared commitment to regional stability.

China

In a statement, the Chinese defense authority says its exported J-10CE fighter jet achieves first combat victory, downing multiple enemy aircraft without losses during combat.

China confirms J-10CE ‘first combat victory’ in Pakistan-India May conflict

ISLAMABAD: Pakistan Prime Minister Muhammad Shehbaz Sharif on Monday strongly condemned a terrorist attack in Khyber Pakhtunkhwa&rsquo;s Tank district that resulted in the martyrdom of police personnel. He reaffirmed the government&rsquo;s resolve to eliminate terrorism from the country, according to an official statement.&nbsp;The attack targeted a police vehicle in the Tank area, killing five police officials, including an Additional Station House Officer (SHO). An investigation into the incident has been ordered and authorities have been directed to bring those responsible to justice at the earliest, according to Radio Pakistan.&nbsp;In his statement, the prime minister offered prayers for the elevation of the martyrs&rsquo; ranks and expressed condolences to the bereaved families.<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; line-height: 2;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2010691992112562181&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=8f9e95ef61cc881f44a56b9642bae75afec05f34&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 921px; display: block; flex-grow: 1;"></iframe></div></div>&nbsp;&ldquo;The Government of Pakistan remains committed to the complete elimination of terrorism from the country,&rdquo; the prime minister stated.&nbsp;President Asif Ali Zardari also expressed deep grief and sorrow over the martyrdom of police personnel in the attack, according to a separate statement on X.&nbsp;The president paid tribute to the fallen officers for their bravery and service to the nation. <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; line-height: 2;"><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=2010658334727458837&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=8f9e95ef61cc881f44a56b9642bae75afec05f34&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 416px; display: block; flex-grow: 1;"></iframe></div></div>&nbsp;&ldquo;May Allah Almighty grant the martyrs an exalted place in His eternal mercy and grant fortitude (Sabr-e-Jameel) to the bereaved families,&rdquo; President Zardari said.&nbsp;Meanwhile, Inspector General of Police Khyber Pakhtunkhwa Zulfiqar Hameed said the &ldquo;cowardly terrorist attacks in Tank and Lucky Marwat cannot, under any circumstances, shake the resolve of our police personnel,&rdquo; according to KP police&#39;s official Facebook page.&nbsp;&ldquo;The martyred officers and soldiers laid down their lives in the line of duty; the entire force takes immense pride in them,&rdquo; the IGP said, adding that the morale of the police force remains high.&nbsp;He stated that the sacrifices of the martyrs would never go in vain and assured that the families of the fallen officers would be provided &ldquo;every possible cooperation and full support.&rdquo; The IGP further confirmed that investigations had been accelerated and those involved would be brought to justice soon.&nbsp;Separately, District Police Officer Lucky Marwat Nazir Khan said the police remained firm against militant elements.<div class="fr-embed"><iframe src="https://www.facebook.com/plugins/post.php?href=https%3A%2F%2Fwww.facebook.com%2Fpakhtunkhwapolice%2Fposts%2Fpfbid0c7V4FofrVAvXESbwjqcJKcVo5Lwe6QY2crUc6zRKFoD6B2cu6f5SJumVf1FEToZtl&show_text=true&width=500" width="500" height="250" style="border:none;overflow:hidden;" scrolling="no" frameborder="0" allowfullscreen="true" allow="autoplay; clipboard-write; encrypted-media; picture-in-picture; web-share"></iframe></div>&nbsp;&ldquo;These cowardly acts by Fitna al-Khawarij cannot dampen our morale. The Lucky Marwat Police are responding forcefully to every challenge and are prepared to make every possible sacrifice for the protection of the public,&rdquo; he stated in a Facebook post by Khyber Pakhtunkhwa Police.&nbsp;Federal Interior Minister Mohsin Naqvi also strongly condemned the blast near the police vehicle in Tank and paid tribute to the five martyred officers.&nbsp;&ldquo;The brave soldiers of the police have sacrificed their &lsquo;today&rsquo; for the peaceful &lsquo;tomorrow&rsquo; of the nation,&rdquo; the interior minister said on X, adding that the sacrifices of the martyrs would always be remembered.<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-2" scrolling="no" frameborder="0" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-2&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2010658332152152415&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=8f9e95ef61cc881f44a56b9642bae75afec05f34&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 368px; display: block; flex-grow: 1;"></iframe></div></div>&nbsp;&ldquo;The martyrs are our pride, and the nation can never forget their timeless sacrifices,&rdquo; Naqvi stated.

Security

Pakistan’s leadership condemned a terrorist attack in KP’s Tank district that killed five police personnel. The prime minister ordered an investigation as the president, interior minister and police vowed justice and reaffirmed resolve against terrorism.

Articles by Jamie McGeever