Pakistani rupee registers all-time low against US dollar

India's Consul General in Shanghai, Pratik Mathur, met Ant Group leadership to discuss fintech and digital economy opportunities. This follows high-level engagements with Shanghai's Mayor, aligned with Prime Minister Narendra Modi's "Reform, Perform and Transform" mantra to strengthen bilateral and multilateral cooperation through the SCO and BRICS.

The US will release 172 million barrels of oil "beginning next week" to stabilse markets amid war with Iran. President Trump vowed to "finish the job" despite Tehran's threats to "destroy" the economy. While Trump suggests there is "practically nothing left to target," Israel claims it has "a broad bank of targets."

Speaking to ANI, Nasheed said the conflict could disrupt the country's fragile economic stability. "Tourist arrivals have come down. So that is going to have a very big impact on our economy and the prosperity of the people. So, yes, it is very, very difficult," he added.

China on Tuesday expressed concern over the functional blockage of the Strait of Hormuz amid the ongoing West Asia conflict and called on "relevant parties" to immediately halt military operations and avoid further escalation.

Pakistani security forces reportedly conducted raids across Balochistan's Surab, Gwadar, and Turbat districts, leading to allegations of property damage and civilian mistreatment. Locals and the Baloch Yakjehti Committee claimed authorities destroyed homes and fuel stocks, severely impacting livelihoods during Ramadan, while night raids in Turbat sparked further human rights concerns.

China has announced a 7 per cent increase in its 2026 defence budget to roughly USD 277 billion. Amidst regional conflicts and military purges, Beijing is prioritising modernisation and "sovereign rights." While feeling vulnerable due to energy dependencies, China is choosing diplomatic engagement over direct military involvement in current global wars.

The Pentagon spent USD 5.6 billion on munitions in just two days against Iran, sparking fears over a "scarce supply" of advanced weapons. As the military shifts to cheaper bombs, assets are being rerouted from the Indo-Pacific, raising concerns about US "readiness" for other global threats.

The PIB Fact Check said that Dwivedi has made no such claim.

Putin congratulated the new leader "at time when Iran is confronting armed aggression. I am confident that you will honorably continue the cause of your father and rally the Iranian people. I wish to reaffirm our unwavering support for Tehran," as quoted by RT News.

Amid the developing security situation in West Asia, Pakistan could see its monthly oil import bill soar to a whopping USD 600 million, the country's Finance Minister Muhammad Aurangzeb said on Sunday, as reported by Dawn. Already reeling under economic stress, the country's Petroleum Minister Ali Pervaiz Malik said that they would request the International Monetary Fund for relief in the petroleum levy.