International
Pakistan has requested a $10 billion exchange stabilisation facility from the United States to strengthen its foreign exchange reserves and reduce pressure on the Pakistani rupee. The proposed arrangement has not yet received US approval. Pakistan Seeks US Financial Backstop Islamabad has proposed a Bilateral Exchange Stabilisation Support Facility with a maturity of up to
International
US President Donald Trump has directed his administration to allow American airlines to operate direct flights to Lebanon, potentially ending a suspension that has lasted since 1985. No US carrier has yet announced a route or confirmed when services could begin. US-Lebanon Direct Flights Approved Trump announced the decision after meeting Lebanese President Joseph Aoun
International
India has summoned Russia’s charge d’affaires in New Delhi and lodged a strong protest over an attack on the commercial vessel MV Golden Leo that killed four Indian seafarers. The ship was struck while departing Ukraine’s Black Sea port of Odesa. India Summons Russian Diplomat The Ministry of External Affairs summoned Russian chargé d’affaires Vladimir […]
International
The United States’ military campaign against Iran is estimated to cost $37.5 billion through the end of September, according to US Defense Secretary Pete Hegseth. The figure was presented as the Pentagon sought billions of dollars in additional funding from Congress. Iran War Cost Reaches $37.5 Billion Hegseth disclosed the estimate during testimony before the […]
International
US President Donald Trump has announced a phased tariff plan for imported generic medicines, offering two years of duty-free access before imposing rates of 100% and eventually 200%. The proposal could significantly affect India, a major supplier of affordable generic drugs to the American market. Trump Announces Generic Drug Tariffs Trump said imported generic medicines
International
The United States military has completed an eleventh consecutive night of strikes against targets inside Iran, continuing an air campaign that Washington says is intended to protect commercial shipping through the Strait of Hormuz. US Strikes Iranian Military Targets US Central Command said the latest operation targeted Iranian military operations centres, maritime
International
Yemen’s Houthi movement has warned international shipping companies against loading or unloading cargo at Saudi Arabian ports, saying vessels that ignore the directive could be targeted. The warning has raised fresh concerns about trade and energy shipments through the Red Sea. Houthis Warn Against Saudi Ports The warning was issued in an email dated July […]
International
The European Commission has imposed a record €550 million penalty, equivalent to about $629 million, on Alibaba-owned AliExpress for failing to adequately address the sale of illegal, unsafe and counterfeit products. It is the largest fine issued under the European Union’s Digital Services Act. EU Fines AliExpress €550 Million The penalty followed an investigation launched