Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment

Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment
A stockbroker walks past share prices on a financial market board during a trading session at the Pakistan Stock Exchange (PSX) in Karachi, Pakistan, on April 9, 2025. (AFP/File)
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Updated 24 June 2025
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Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment

Pakistan stocks see strong recovery as Iran-Israel ceasefire reports boost investor sentiment
  • US President Donald Trump said Monday that Israel and Iran had agreed to a ‘complete’ ceasefire to be phased in over 24 hours
  • Analyst says the momentum is likely to continue, with valuations still shy of a long-term mean and due to market-friendly budget

ISLAMABAD: The Pakistan Stock Exchange (PSX) on Tuesday witnessed a strong recovery amid a reported ceasefire between Israel and Iran, traders and analysts said.

On Monday, United States (US) President Donald Trump said on social media that Israel and Iran had agreed to a “complete and total ceasefire” to be phased in over 24 hours.

The benchmark KSE-100 index surged by 6,079 points, or 5.23 percent, to close at 122,246 points on Tuesday afternoon, compared to the previous day’s close of 116,167 points.

“Stocks closed near all-time high after Iran, Israel agreed to a ceasefire receding fears of escalation in the Middle East tensions,” Ahsan Mehanti of Arif Habib Corporation told Arab News.

“Upbeat economic data on cement sales for Jul-May’25, bull run in global equities and receding fears over high inflation, impact on exports for supply disruptions over Middle East conflict played a catalyst role in the record bullish close.”

Raza Jafri, head of research at Intermarket Securities Ltd., attributed the momentum to reduction in international oil prices along with settling regional tensions.

In volatile trading on Tuesday, crude futures slumped more than five percent after Trump’s declaration of the Iran-Israel ceasefire.

“With valuations still shy of a long-term mean and Pakistan having recently unveiled a market-friendly budget, bullish momentum is expected to continue,” Jafri added.

On Monday, Pakistan’s stocks and currency markets had tumbled as investors reacted to the US foray into the Israel-Iran conflict a day earlier.

Monday’s 3.2 percent fall to 116,167 points was the worst since May 8, when the index had plunged 5.9 percent day-on-day during the India-Pakistan military standoff.


Pakistan backs ‘inclusive’ political process in Syria, ceasefire in Gaza at Security Council debate

Pakistan backs ‘inclusive’ political process in Syria, ceasefire in Gaza at Security Council debate
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Pakistan backs ‘inclusive’ political process in Syria, ceasefire in Gaza at Security Council debate

Pakistan backs ‘inclusive’ political process in Syria, ceasefire in Gaza at Security Council debate
  • Violent clashes between Druze, Bedouin clans in Syria killed over 250 people this month 
  • Ishaq Dar calls for the restoration of humanitarian supply lines in Gaza to prevent famine 

ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar on Wednesday backed an “inclusive” political process to stabilize a Syria rocked by clashes and demanded an unconditional ceasefire in Gaza, as he spoke at a United Nations Security Council debate on the evolving Middle East situation. 

Syria has been rocked by violent clashes between the Druze minority and Bedouin clans that broke out on July 13, killing over 250 people as per media reports and threatening to disrupt the country’s post-war transition. The violence also displaced 128,571 people, according to the United Nations International Organization for Migration.

Israel carried out a series of attacks on government targets in Syria in support of the Druze clan last week, including a strike on a tank convoy and the shelling of the Defense Ministry in Damascus. Syrian President Ahmed Al-Sharaa ordered a fragile ceasefire between Bedouin and Druze groups last Saturday. 

Dar, who is in New York to participate in events being held under Pakistan’s presidency of the UN Security Council, spoke at an open debate titled, “The Situation in the Middle East and the Question of Palestine.”

“Pakistan supports the stabilization of Syria through an inclusive political process,” the deputy prime minister, who also serves as Pakistan’s foreign minister, said. “Syria’s unity, sovereignty, and territorial integrity must be upheld.”

He called on Israel to immediately withdraw from the separation zone established under the 1974 Disengagement Agreement and vacate the Syrian Golan Heights as per the UN Security Council’s resolutions.

‘GRAVEYARD FOR INNOCENT LIVES’

The Pakistani deputy prime minister criticized Israel for its military operations in Gaza, saying that the world was witnessing the “collapse of humanity” through Tel Aviv’s actions.

“Gaza has become a graveyard for innocent lives as well as for international law, particularly international humanitarian law,” he said, noting that over 58,000 Palestinians have been killed in Israel’s war since October 2023. 

He urged the UN Security Council to pursue with unity and urgency an “immediate, permanent, and unconditional ceasefire” in Gaza. 

Dar also called for unfettered, sustained and secure access to humanitarian relief items for all civilians and the protection of aid workers, medical teams and UN personnel there. 

“Immediate steps should be taken to ensure the delivery of life-saving food and medical assistance, restore humanitarian supply lines, and prevent famine conditions from taking hold,” he said. 

Pakistan has consistently called for an independent Palestinian state in the Middle East with Al-Quds Al-Sharif as its capital based on the pre-1967 border. 


Father kills daughter, nephew in latest ‘honor killing’ case in Pakistan’s Balochistan

Father kills daughter, nephew in latest ‘honor killing’ case in Pakistan’s Balochistan
Updated 23 July 2025
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Father kills daughter, nephew in latest ‘honor killing’ case in Pakistan’s Balochistan

Father kills daughter, nephew in latest ‘honor killing’ case in Pakistan’s Balochistan
  • Police says latest killings motivated by accusations of an “illicit relationship” between the pair
  • Murders follow nationwide outrage over recent tribal-ordered killing of couple in Balochistan

QUETTA, Pakistan: A father has shot and killed his teenage daughter and nephew in a so-called “honor killing” in Quetta, the capital of Pakistan’s southwestern Balochistan province, police said on Wednesday, days after a similar killing sparked outrage across the country.

The incident took place Tuesday evening in the Lashar Abad area along Quetta's Qambrani Road, and came just days after a viral video showed a young couple being executed in a separate honor killing in

Balochistan's Digari area in Quetta district. That case, involving a tribal jirga ordering the deaths of a woman and man over an alleged illicit relationship, has drawn widespread condemnation and renewed calls for legal reform.

According to Abdul Majeed, the Station House Officer of Kechi Baig Police Station, the latest victims were identified as Ghulam Qadir, 19, and Nazneen, 18.

“The slain man and woman were cousins and the father, named Abdul Latif, shot and killed both his daughter and nephew inside his house,” Majeed told Arab News. “The girl was from the Lehri tribe and the boy hailed from the Rind tribe.”

The officer said the killings were motivated by accusations of an “illicit relationship” between the pair, adding that the case had been handed over to the Serious Crime Investigation Wing (SCIW) and a search was underway for the father, who was on the run.

The family of the male victim had retrieved his body for burial, but no one from the girl’s family had come forward to claim her, Majeed added. 

Rights groups say honor killings - the murder of individuals, often women, by relatives for allegedly tarnishing family “honor” - remain widespread in Pakistan, particularly in tribal and rural regions. Activists estimate as many as 1,000 deaths a year in the name of so-called honor.

Although Pakistan passed a landmark law in 2016 to close loopholes that once allowed families to “forgive” perpetrators, conviction rates remain extremely low, often below 2 percent, according to UN estimates. 

The recent video from Balochistan, showing the execution-style killing of a couple in the Digari area in Quetta district, reignited public debate over jirga justice and the state’s failure to prevent such crimes.

Police said 11 suspects had been arrested in the Digari case, including two men named in the first information report (FIR) filed by police after the killing.

That attack, caught on video, appeared to show the victims being shot in a mountainous area on the orders of a tribal council. 


Top Pakistani general discusses enhancing defense, security ties with Turkish, Azeri officials

Top Pakistani general discusses enhancing defense, security ties with Turkish, Azeri officials
Updated 23 July 2025
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Top Pakistani general discusses enhancing defense, security ties with Turkish, Azeri officials

Top Pakistani general discusses enhancing defense, security ties with Turkish, Azeri officials
  • Pakistan has grown closer to Azerbaijan, Turkiye after both openly supported Islamabad during its recent conflict with India
  • All sides stress importance of bolstering security cooperation due to evolving geo-strategic environment, says Pakistan Army

ISLAMABAD: Pakistan’s General Sahir Shamshad Mirza met senior defense officials of Turkiye and Azerbaijan on Wednesday to discuss strengthening existing security and defense ties between the countries, Pakistan Army’s media wing said. 

Islamabad has grown closer to Ankara and Baku after Turkish President Recep Tayyip Erdogan and Azerbaijan’s President Ilham Aliyev openly pledged support for Pakistan during its latest military confrontation with India in May.

Mirza, who is the chairman of joint chiefs of staff committee (CJCSC) of the Pakistan Army, was attending the 17th International Defense Industry Fair in Istanbul, renowned for showcasing cutting-edge innovations and advancements in the defense sector. 

The Pakistani general held separate meetings with General (retired) Yasar Guler, Turkiye’s minister of national defense, Col. General Hasanov Zakir Asgar Oglu, Azerbaijan’s minister of defense, Gurbanov Agil Salim Oglu, Azerbaijan’s deputy minister of defense and General Metin Gurak, the chief of Turkish general staff. 

“Discussions were held on variety of issues of bilateral military cooperation with emphasis on importance of expanding cooperation in the fields of defense and security,” the Inter-Services Public Relations (ISPR), the military’s media wing, said in a statement.

“The dignitaries reaffirmed their shared commitment to deepening strategic partnerships and enhancing defense corporation in line with dictates of future geo-strategic environment and technological advancements.”

The Turkish and Azeri officials reaffirmed their commitment to deepen strategic partnerships and enhance defense cooperation, keeping in mind the future geo-strategic environment and technological advancements, the ISPR added. 

Earlier this month, Turkiye’s defense and foreign ministers arrived in Pakistan for a series of high-level meetings that reportedly focused on counterterrorism, defense cooperation and broader strategic ties.

Pakistan and Turkiye have maintained close defense ties in recent years. 

Under a 2018 agreement, Türkiye is delivering four MILGEM-class corvettes to the Pakistan Navy, with two built in Istanbul and two at Karachi Shipyard under a technology transfer arrangement.

The first vessel, PNS Babur, was delivered in 2023.


Pakistan, Saudi Arabia agree to promote investments, expand cooperation in key sectors

Pakistan, Saudi Arabia agree to promote investments, expand cooperation in key sectors
Updated 23 July 2025
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Pakistan, Saudi Arabia agree to promote investments, expand cooperation in key sectors

Pakistan, Saudi Arabia agree to promote investments, expand cooperation in key sectors
  • Deputy PM Ishaq Dar meets Saudi Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, in New York 
  • Both discuss expanding cooperation in food security, manufacturing and mines & minerals, says Pakistan’s FO

ISLAMABAD: Deputy Prime Minister Ishaq Dar met Saudi Arabia’s Minister of Economy and Planning, Faisal bin Fadhil Alibrahim, on Wednesday to discuss promoting bilateral investments and expanding cooperation in key economic sectors, Pakistan’s foreign ministry said. 

Pakistan and Saudi Arabia enjoy cordial relations and strong ties in defense, military, tourism and various other sectors. The two countries have eyed closer cooperation in mines and minerals, agriculture, tourism, IT and other sectors in recent years. 

Islamabad and Riyadh last year signed 34 business-to-business deals worth $2.8 billion amid Islamabad’s increasing focus to shore up its foreign reserves and bolster its economic revival with the help of its Gulf allies. 

Dar, who is in the United States till July 28 to lead “high-level signature events” under Pakistan’s presidency of the UN Security Council, met Alibrahim on the sidelines of the events. 

“Discussions focused on expanding cooperation across key sectors, including food security, manufacturing, and mines & minerals,” the Pakistani foreign ministry said. 

“They also agreed to advance investments and technical collaboration for mutual benefit of the two nations,” it added. 

The two reaffirmed brotherly ties between Pakistan and Saudi Arabia and their shared vision for lasting peace, prosperity and regional harmony, the foreign ministry said.

Apart from being a key regional ally and close business partner, Saudi Arabia also happens to be the largest source of foreign remittances for Pakistan. 

These remittances are a lifeline for Pakistan’s cash-strapped economy, playing a critical role in stabilizing foreign exchange reserves and supporting balance of payments. 


Pakistan, Bangladesh agree in principle on visa-free entry in sign of deepening diplomatic thaw

Pakistan, Bangladesh agree in principle on visa-free entry in sign of deepening diplomatic thaw
Updated 23 July 2025
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Pakistan, Bangladesh agree in principle on visa-free entry in sign of deepening diplomatic thaw

Pakistan, Bangladesh agree in principle on visa-free entry in sign of deepening diplomatic thaw
  • Visa agreement to apply to holders of diplomatic and official passports from both countries
  • Joint committee to oversee new security initiatives as Dhaka prepares delegation to Islamabad

KARACHI: Pakistan and Bangladesh have reached a principled agreement to allow visa-free entry for diplomatic and official passport holders, Islamabad said on Wednesday, a move signaling a further thaw in bilateral ties long shaped by historical hostility.

Wednesday’s agreement marks one of the most concrete outcomes of a rapprochement between Pakistan and Bangladesh, particularly in the realm of internal security cooperation and diplomatic facilitation.

In recent months both countries have taken steps to rebuild ties. The last high-level Pakistani visit to Dhaka was by Foreign Secretary Amna Baloch earlier this year, part of a broader effort by Islamabad to reset regional relations amid shifting geopolitical alignments and shared security concerns.

The decision on the visa pact was announced during a high-level meeting between Pakistan’s Federal Interior Minister Mohsin Naqvi and Bangladesh’s Home Minister Lt. Gen. (R) Jahangir Alam Chowdhury, held in Dhaka on Wednesday.

“A significant breakthrough was achieved on the facilitation of visa-free entry for holders of diplomatic and official passports, and both countries reached a principled agreement on this matter,” a statement by the Pakistani interior ministry said, without providing an implementation date for the pact.

The two sides also agreed to bolster cooperation on internal security, police training, counterterrorism, anti-narcotics, and efforts to combat human trafficking. A joint committee will now be formed to institutionalize this cooperation, to be led on Pakistan’s side by Federal Interior Secretary Khurram Agha.

The two ministers agreed to launch exchange programs between police academies, and a Bangladeshi delegation will soon visit Pakistan’s National Police Academy in Islamabad, the statement said.

“Your visit is of great significance for strengthening bilateral relations between our two countries,” Bangladesh’s Home Minister, who welcomed Naqvi with a guard of honor at the Ministry of Home Affairs, was quoted as saying in the Pakistani statement.

He also expressed appreciation for Pakistan’s offer to provide training opportunities for Bangladeshi police officers.

For decades, Bangladesh enjoyed historically close ties with Pakistan’s archrival India, its wartime ally and key economic partner. Relations between Pakistan and Bangladesh, previously a part of Pakistan, on the other hand have historically been tense, rooted in the violent 1971 war that led to Bangladesh’s independence and accusations of wartime atrocities. Diplomatic engagement remained minimal for years, and high-level visits were rare.

But that regional alignment has shifted dramatically since the ouster of Prime Minister Sheikh Hasina, who fled to India following her government’s collapse last year. As Dhaka’s relations with New Delhi have cooled amid accusations of political interference and border tensions, its diplomatic engagement with Islamabad has deepened, marking a rare reset between two countries long divided by history.