The Pakistan Stock Exchange plunged by over 6 per cent on Thursday with trading halted for an hour after rumours of escalation in military action by India near Karachi, reported news agency PTI. The benchmark KSE100 index tumbled 6,948.73 points, or 6.32 per cent, to 1,03,060.30, before the trading was halted. Trading resumed with Fatima Bucha of AKD Securities confirming the situation on the floor had calmed down a bit, reported PTI. “But the situation could get worse as investors are panicking due to the geopolitical situation,” she said, adding, “No one is sure what is going to happen and how and if Pakistan will respond to India's aggression.” The downward trajectory of the index was largely driven by negative contributions from key stocks such as cement, energy, bank, and technology, reported PTI. Meanwhile, the Pakistani government said that it has taken measures to keep its foreign exchange reserves stabilised. It has imposed a 60-day ban on importing and exporting precious metals, jewellery, and gemstones from Thursday. The temporary ban was imposed by a Commerce Ministry Order suspending SRO760 of 2013, which governs the trade of precious metals. The restriction is linked to the recent impasse with India as a potential strategy to limit the flow of metals. The State Bank of Pakistan has also advised all currency dealers in both inter-bank and open markets to closely monitor dollar outflows, as the escalating conflict could rapidly increase demand for the greenback. Zaffar Paracha, general secretary of the Exchange Companies Association of Pakistan said if the currency market faced any shortage it could be managed but if there was a prolonged conflict it could damage both countries. “For now we have not seen any panic buying of dollars, nor had demand escalated,” Paracha said. According to a currency dealer, over 90 per cent of remittances to Pakistan come through Indian exchange companies, particularly from West Asia. There are fears in Islamabad that the remittances may face disruptions if the conflict between the two countries prolongs. In the case of a full-fledged war, these companies could be used by India as a tool to pressure Pakistan. Currency dealers, speaking on condition of anonymity, said Indian exchange companies are the main handlers of remittances to Pakistan. (With PTI inputs)
08 May,2025 04:11 PM IST | Karachi | mid-day online correspondentAmid escalating tensions between India and Pakistan, Israel has updated its travel advisory for its nationals and asked those in the Kashmir region to "leave immediately", reported news agency PTI. The revised advisory came on Wednesday after the Indian military carried out strikes against terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan's Punjab province. Pakistan army carried out one of the most intense artillery and mortar shelling in years targeting forward villages along the LoC in Jammu and Kashmir. The Israeli Foreign Ministry called on Israelis to avoid visiting the Jammu and Kashmir region, with the exception of Ladakh. Israelis currently in Kashmir should "leave immediately" and obey the instructions of local security forces, the ministry said, reported PTI. This is in line with the existing travel advisory issued by the National Security Council, it added. India launched Operation Sindoor early Wednesday hitting nine terror targets in Pakistan-occupied Kashmir (PoK) and Punjab province of Pakistan in retaliation for the April 22 terror attack that killed 26 people in Jammu and Kashmir's Pahalgam. Pakistan army said 31 people were killed and 57 others injured in the Indian missile strikes launched shortly after midnight. Separately, at least 13 people, including four children and a soldier, were killed and 57 injured as the Pakistan army carried out one of the most intense artillery and mortar shelling in years targeting forward villages along the LoC in Jammu and Kashmir after the Indian missile strikes. UK Parliament debates India-Pakistan conflict, appeals for de-escalation The rising tensions between India and Pakistan in the wake of the Pahalgam terror attack and Operation Sindoor targeting terror camps in PoK were debated at length in the British Parliament, with members across parties appealing for UK efforts to aid de-escalation in the region. UK Foreign Office Minister Hamish Falconer opened the debate in the House of Commons on Wednesday with a statement reiterating Prime Minister Keir Starmer's earlier remarks about the importance of diplomacy and dialogue. He also expressed concerns related to the very "personal" aspect of the conflict for a large number of British Indians and British Pakistanis in the country. "Our consistent message to both India and Pakistan has been to show restraint. They need to engage in dialogue to find a swift, diplomatic path forward," said Falconer. "The UK has a close and unique relationship with both countries. It is heartbreaking to see civilian lives being lost. If this escalates further, nobody wins. We clearly condemned the horrific terrorist attack last month," he said referring to the Pahalgam terror attack and said it was the worst such attack for many years for that region. (With inputs from PTI)
08 May,2025 03:21 PM IST | Jerusalem | mid-day online correspondentThe Baloch Liberation Army (BLA) has claimed responsibility for two separate attacks that resulted in the deaths of 14 Pakistani Army personnel in Bolan and Kech. In an incident, BLA's Special Tactical Operations Squad (STOS) carried out a remote-controlled IED attack on a military convoy vehicle in the Shorkand area of Mach, Bolan. The blast reportedly killed all 12 soldiers on board, including Special Operations Commander Tariq Imran and Subedar Umar Farooq. The vehicle was destroyed in the explosion. In another operation, BLA fighters targeted a Bomb Disposal Squad of the Pakistani Army in the Kulag Tigran area of Kech. The remote-controlled IED detonated around 2:40 PM yesterday while the unit was conducting a clearance mission. Two personnel were killed in the attack. According to Jeeyand Baloch, spokesperson for the Baloch Liberation Army, the hired killers who call the Baloch Liberation Army a foreign proxy should know that the Pakistani army itself is a mercenary armed gang that thrives on Chinese capital and Papa Jones. The meaning of the army's uniform shifts--sometimes guarding ports, guarding corridors, serving the satisfaction of lenders. An army that determines its direction according to the will of changing masters in every era is not a national army, but a commercial one. The attacks on this mercenary occupying army by the freedom fighters of Baloch land will continue with greater intensity. The recent attacks highlight the enduring unrest and conflict in Balochistan. In this region, separatist groups have long demanded independence, citing political marginalisation, human rights abuses, and exploitation of natural resources by the Pakistani state. These groups argue that the region's vast mineral wealth benefits the central government and foreign investors, while local communities remain impoverished and underdeveloped. The Pakistani military's presence and operations in the region are viewed by many as acts of occupation rather than national defence. As a result, resentment continues to grow, fueling further resistance and deepening the divide between Baloch nationalists and the federal authorities. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
08 May,2025 02:04 PM IST | Balochistan | mid-day online correspondentAfter Operation Sindoor, US President Donald Trump has said he wants India and Pakistan to "stop" what he described as "tit for tat" actions, saying if he can do anything to "help", he will be there, reported news agency PTI. Trump's remarks came after the Indian military carried out strikes, under Operation Sindoor, against terror targets in Pakistan-occupied Kashmir (PoK) and Pakistan's Punjab province on Wednesday. Pakistan army carried out one of the most intense artillery and mortar shelling in years targeting forward villages along the LoC in Jammu and Kashmir. "Oh, it's so terrible. My position is I get along with both. I know both very well and I want to see them work it out. I want to see them stop and hopefully, they can stop now. They have gone tit for tat, so hopefully they can stop now. I know both, we get along with both the countries very well. Good relationships with both and I want to see it stop. And If I can do anything to help, I will be there," Trump said in response to a question on the "war" between India and Pakistan, reported PTI. He was speaking on Wednesday in the Oval Office after the swearing-in ceremony of David Perdue as US Ambassador to China. Earlier, hours after the Indian strikes, Trump had said that India and Pakistan had been fighting for a long time and people knew "something was going to happen". "It's a shame, we just heard about it just as we were walking in the doors of the Oval (Office). Just heard about it. I guess people knew something was going to happen based on a little bit of the past. They've been fighting for a long time. They've been fighting for many, many decades and centuries, actually, if you really think about it," Trump said when asked about the attacks between India and Pakistan, reported PTI. When asked if he had any message for the two countries, he said, "No, I just hope it ends very quickly." Meanwhile, a top American military commander has said that the US is "watching the situation very closely" after Indian military strikes. "It's right now too early to opine on any of that. We're watching the situation very closely. We're nested with our higher headquarters and USINDOPACOM as the information about these strikes becomes more clear," US Army Pacific Commanding General, General Ronald Clark said during a digital press briefing Wednesday, reported PTI. India launched Operation Sindoor early Wednesday hitting nine terror targets in Pakistan-occupied Kashmir (PoK) and Punjab province of Pakistan in retaliation for the April 22 terror attack that killed 26 people in Jammu and Kashmir's Pahalgam. Pakistan Army spokesman Lt Gen Ahmad Sharif Chaudhry said 31 people were killed and 57 others injured in the Indian missile strikes launched shortly after midnight. Separately, at least 13 people, including four children and a soldier, were killed and 57 injured as the Pakistan army carried out one of the most intense artillery and mortar shelling in years targeting forward villages along the LoC in Jammu and Kashmir after the Indian missile strikes. (With inputs from PTI)
08 May,2025 11:59 AM IST | New York/Washington | mid-day online correspondentFlustered by the Indian armed forces' attack on terror bases under Operation Sindoor, Pakistan Prime Minister Shehbaz Sharif has vowed retaliation. India's targeted military strikes under Operation Sindoor hit nine high-value terror infrastructure sites across Pakistan and Pakistan-occupied Kashmir (PoK), including the hideouts of top terror masterminds Maulana Masood Azhar and Hafiz Saeed. Addressing the nation following India's unprecedented action against terrorism, Sharif on Wednesday asserted Pakistan's intent to respond forcefully. "Pakistan will take revenge. We will take this war to the end. My Pakistani people, for your safety, our army and our people -- we will always be united. Pakistan is most affected by terrorism," he said, reported news agency IANS. Pakistan's National Security Committee earlier issued a statement saying the armed forces had been authorised to retaliate "at a time, place, and manner of its choosing" in response to India's strikes. However, earlier in the day, Pakistan's Defence Minister Khawaja Asif claimed that the situation could de-escalate if India stepped back from its current military posture. "If India is ready to back down, we will definitely wrap up this tension," Asif said. Notably, in a recent interview with Sky News, Asif candidly acknowledged Pakistan's long-standing support for terror organisations, although he sought to deflect some responsibility by recalling the Cold War-era collaboration with the West in Afghanistan. "We have been doing this dirty work for the US for the past three decades, including the West and the United Kingdom," Asif admitted, though no Western nation has backed attacks on India, reported IANS. India's operation came as a direct response to the April 22 terror attack in Pahalgam, Jammu and Kashmir, which claimed the lives of 26 people, including a Nepali national. The Resistance Front, a proxy of Pakistan-based Lashkar-e-Taiba, took responsibility for the massacre. The precision strikes on Wednesday, carried out jointly by the Indian Army, Air Force, and Navy, targeted six key locations deep inside Pakistani territory. Among them was Masjid SubhanAllah in Bahawalpur's Ahmedpur Sharqia, believed to be a hideout of Jaish-e-Mohammed (JeM) chief Masood Azhar. Other targets included facilities in Muridke -- reportedly the headquarters of Lashkar-e-Taiba (LeT) and Jamaat-ud-Dawa (JuD) chief Hafiz Saeed, as well as terror installations in Muzaffarabad, Kotli, and Bagh. India has underscored that Operation Sindoor was a "measured, calibrated and non-escalatory" response focused solely on neutralising terror threats and avoiding civilian or military infrastructure. (With inputs from IANS)
08 May,2025 11:46 AM IST | Islamabad | mid-day online correspondentBlack smoke rose from the chimney of the Sistine Chapel on Wednesday, meaning that cardinals did not elect a new Pope on the first day of the conclave, CNN reported. The cardinals returned to the Santa Marta residence, where they'll remain sequestered until a second day of voting begins on Thursday, as per CNN. The elections of Pope Benedict XVI and Pope Francis were swift by historical standards. Both Popes were appointed on the second day of voting. Pope Benedict required four rounds of voting; Pope Francis took five. Pope John Paul II, Pope Benedict's predecessor, took slightly longer. He was elected in 1978 on the third day of voting, in the eighth round. The conclaves held earlier in the 20th century took more time. In 1903, it took five days of voting to elect Pope Pius X - the same number it took to elect Pius XII in 1939, as per CNN. The Catholic Church began the highly secretive process known as the "conclave" on Wednesday to elect the next pontiff following the death of Pope Francis last month. There are 133 voting cardinals, and any one of them needs to receive more than two-thirds of the vote to become the new pope. Take a look at how the voting process works. At the end of each voting session, the cardinals burn the ballots. Black smoke means the cardinals haven't reached a consensus, and white smoke means there's a new Pope. The conclave process is highly secretive, which allows the church and cardinals "freedom" to choose a pope without outside influence, Rev Sam Sawyer, a Jesuit priest and President and editor-in-chief at America Media, told CNN. "I think the secrecy really it's meant to help the cardinals discern in freedom, so it gives them the freedom to vote within their own conscience for the man they think is best suited to be the pope," Sawyer said. While in contemporary times the conclave allows cardinals "freedom of conscience" and the ability "to be really frank with each other and then also to vote according to how the spirit moves them," historically the secretive process played a more protective role, Sawyer noted, as per CNN. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
08 May,2025 11:34 AM IST | Washington DC | ANIFollowing Operation Sindoor, Pakistan Prime Minister Shehbaz Sharif early Wednesday termed the Indian missile strikes on terror targets in Pakistan-occupied Kashmir and Punjab province as an "act of war" and said his country has every right to give a "befitting reply," reported news agency PTI. Army spokesman Lt Gen Ahmad Sharif Chaudhry in a media interaction said at least 26 people were killed and 46 injured in the missile strikes on cities in Punjab and PoK. "The six locations that India attacked last night... Pakistan lost 26 people and 46 were injured," he said, reported PTI. In retaliation for the Pahalgam terror attack, Indian armed forces carried out missile strikes, Operation Sindoor, early Wednesday, hitting terrorist infrastructure in Pakistan and PoK from where terrorist attacks against India have been planned and directed, the Indian Army said. He said that 13 people were killed in Bahwalpur's area of Ahmedpur East where Subhan mosque was attacked. Two girls, seven women and four men while another 37 were injured, including 28 men and nine women, reported PTI. He said that in the attack in Muzaffarabad, the Bilal mosque was targeted, three persons were killed, and two injured, including a girl and a boy, reported PTI. In the Operation Sindoor strike at Kotli where Abbat mosque was targeted, a 16-year-old girl and an 18-year-old boy were killed, while two persons were injured, reported PTI. He said that in the Muridke attack where the Umalkura mosque was targeted, three men were killed and one was injured. There was no loss of life in attacks at locations in the Sialkot and Shakargarh areas. The spokesperson also said that five civilians were killed in cross-LoC firing by India. "At no point Indian aircraft was allowed to enter Pakistan and no Pakistani aircraft entered India. All PAF assets are safe," he said. In another development, he said that India also targeted the Neelum Jhelum project by attacking a water storage dam, which he termed a dangerous sign. He also said a number of local flights and 57 international flights were operating in the Pakistan airspace at the time of attack and they could have been hit by the Indian strikes, reported PTI. Prime Minister Sharif said that India carried out attacks at five places in Pakistan. "Pakistan has every right to give a befitting reply to this act of war imposed by India, and a strong response is indeed being given," Sharif said in a statement, reported PTI. Sharif said his armed forces "know very well how to deal with the enemy". "We will never let the enemy succeed in its nefarious objectives," he added. The Prime Minister has summoned a meeting of the National Security Council at 10 am. Pakistan has closed its airspace for all air traffic for 48 hours. Deputy Prime Minister and Foreign Minister Ishaq Dar termed the Indian strikes as a "flagrant violation" of Pakistan's sovereignty, the UN Charter & international law, reported PTI. "It has jeopardised regional peace," he said in a statement on X. In a statement, the Foreign Office termed the strikes by the "Indian Air Force, while remaining within Indian airspace," as an "unprovoked and blatant act of war". "We will respond with full force. We will pay off this debt in the manner such debt is paid," Defence Minister Khawaja Asif told Geo News. He said Pakistan's response would be both kinetic and diplomatic, and it would not take long to retaliate to the Indian attack. "All places are open for the international media to verify if they targeted terrorists' camps or civilians," he said. "All of our air force jets are airborne. This cowardly and shameful attack was carried out from within India's airspace. They were never allowed to come and intrude into the space of Pakistan," the army spokesman said, reported PTI. "Let me say it unequivocally: Pakistan will respond to this at a time and place of its own choosing. This heinous provocation will not go unanswered," he added, reported PTI. This "temporary happiness" that India has achieved with this attack will be replaced with enduring grief, he said. Ties between India and Pakistan plummeted following the Pahalgam terror attack on April 22 that killed 26 people, mostly tourists. India announced a raft of punitive measures against Pakistan, including the suspension of the Indus Waters Treaty, shutting down of the only operational land border crossing at Attari and downgrading of diplomatic ties following the terror attack. Prime Minister Narendra Modi had told the top defence brass that the armed forces have "complete operational freedom" to decide on the mode, targets and timing of India's response to the attack. (With inputs from PTI)
08 May,2025 11:19 AM IST | Islamabad | mid-day online correspondentIsraeli strikes across Gaza killed at least 59 people, including women and children, hospital officials said on Wednesday, as Israel prepares to ramp up its campaign against Hamas in a devastating war now entering its 20th month. The strikes included one attack on Tuesday night on a school sheltering hundreds of displaced Palestinians, which killed 27 people, officials from the Al-Aqsa Hospital said, including nine women and three children. It was the fifth time since the war began that the school in central Gaza has been struck. An early morning strike on another school turned shelter in Gaza City killed 16 people, according to officials at Al-Ahli Hospital, while strikes on targets in other areas killed at least 16 others. A large column of smoke rose and fires pierced the dark skies above the school shelter in Bureij, a built-up urban refugee camp. Paramedics and rescuers rushed to pull people out from the blaze. The Israeli military had no immediate comment on the strikes. Israel blames Hamas for the death toll because it operates from civilian infrastructure, including schools. Trump says only 21 hostages held by Hamas President Donald Trump said on Tuesday (local time) that three hostages held by Hamas in Gaza have died, leaving only 21 believed to be still living. He did not elaborate on the identities of those now believed to be dead, nor how he had come to learn of their deaths. “There’s 21, plus a lot of dead bodies,” Trump said. One American, Edan Alexander, had been among the 24 hostages believed to be alive, with the bodies of several other Americans also held by Hamas after its October 7, 2023, assault on Israel. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
08 May,2025 10:23 AM IST | Deir al-Balah | AgenciesCardinals entered St Peter’s Basilica on Wednesday to celebrate a final Mass before the conclave to elect the next pope. The Mass precedes the secretive, ritual-filled process to find a new leader of the Catholic Church and is celebrated to pray that the 133 cardinals find wisdom, good counsel and understanding before they enter the Sistine Chapel to debate. White/black smoke For 800 years the Catholic Church has utilised the conclave process to elect a new pope. With no direct communication to the outside world, a key feature of the papal election is the use of smoke to signal ballot results and to announce the election of a new pope. Black smoke means a new pope has not been elected. White smoke means there is a new pope. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
08 May,2025 10:22 AM IST | Vatican City | AgenciesExactly 25 years ago on May 7, ex-KGB colonel Vladimir Putin—with little public exposure as deputy mayor of St Petersburg—took the oath of the highest office in the post-Communist Russia. A quarter century later, Putin, 72, still remains the most popular politician in Russia, as was evident by last year’s election, which Putin won with 88.48 per cent of votes polled. In a TV documentary shown on Sunday, he, however, said that he was looking for a successor, but it was not in his power as the successor would have to seek a popular vote in the elections with strong rivals. For Putin, it has been a 25-year journey that has come to coincide with Russia’s journey in the 21st century. His predecessor Boris Yeltsin, Russia’s first directly elected president, had resigned due to failing health on the backdrop of political instability, financial and economic, militancy in the Northern Caucasus and a spate of terrorist attacks. He handed Putin, the incumbent prime minister of the country, the hot Kremlin seat on New Year’s Eve, December 31, 1999. Putin was elected on March 26, 2000, bagging 53 per cent votes by beating Communist rival Gennady Zyuganov and liberal Yabloko block leader Grigory Yavlinsky. The way Putin resolutely fought Chechen militancy, assured timely pensions to the most vulnerable section of society, revived manufacturing in the country, generating employment, ensured a second term with almost 72 per cent votes. Due to constitutional restraint of two four-year consecutive terms, he stepped aside and took over the job of prime minister under President Dmitry Medvedev for four years. Later, due to Medvedev’s constitutional amendments, the presidential term was extended to six years and in 2012 and 2018, Putin was elected with 64.95 and 77.53 per cent votes, respectively. When the constitution was amended by nationwide vote in July 2020, he was given the right to contest for two more six-year terms till 2036. Putin won last year’s election with 88.48 per cent. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
08 May,2025 10:22 AM IST | Moscow | AgenciesA surge of “origin washing” advertisements has emerged on Chinese social media platforms, presenting exporters with methods to evade 145 per cent US tariffs by re-exporting goods and using freight forwarding services or by misrepresenting their manufacturing locations, as per a Radio Free Asia (RFA) report. Promotions shared on Xiaohongshu, also known as RedNote, and Douyin, the Chinese counterpart of TikTok, feature businesses offering comprehensive re-export and freight forwarding services through Southeast Asian nations such as Vietnam and Thailand to bypass increasing restrictions on export rerouting through these regions. Lee. Some freight forwarders also assist exporters in altering or repacking containers to conceal their origins. This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever
08 May,2025 10:22 AM IST | Washington | AgenciesADVERTISEMENT
