France, Germany, Italy and Britain back Arab plan for Gaza reconstruction

According to Reuters, the foreign ministers of France, Germany, Italy and Britain said on Saturday they supported an Arab-backed plan for the reconstruction of Gaza that would cost US$53 billion and avoid displacing Palestinians from the enclave.

"The plan shows a realistic path to the reconstruction of Gaza and promises – if implemented – swift and sustainable improvement of the catastrophic living conditions for the Palestinians living in Gaza," the ministers said in a joint statement.

The plan, which was drawn up by Egypt and adopted by Arab leaders on Tuesday, has been rejected by Israel and by US President Donald Trump, who has presented his own vision to turn the Gaza Strip into a "Middle East Riviera".

The Egyptian proposal envisages the creation of an administrative committee of independent, professional Palestinian technocrats entrusted with the governance of Gaza after the end of the war in Gaza between Israel and Hamas.

The committee would be responsible for the oversight of humanitarian aid and managing the Strip's affairs for a temporary period under the supervision of the Palestinian Authority.

The statement issued by the four European countries on Saturday said they were committed to working with the Arab initiative, and they appreciated the important signal the Arab states had sent by developing it.

The statement said Hamas "must neither govern Gaza nor be a threat to Israel any more" and that the four countries "support the central role for the Palestinian Authority and the implementation of its reform agenda.

 

 

Trump’s unsent Iran letter to Iran

US President Donald Trump claimed to have sent a letter to the Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei, expressing interest in striking a deal with Iran on its nuclear program – a move that represents neither a swerve in Iran-US relations nor holds much promise under the current US policies.

"I wrote them a letter saying I hope you are going to negotiate," Trump stated, coupling the plea with the familiar threat to either "handle" Iran militarily or "make a deal." In an eyebrow-raising moment, when asked when he'd sent the letter to [Imam] "Khomeini," the long-deceased founder of the Islamic Republic, Trump claimed it was "yesterday," meaning Wednesday.

An unnamed American official, later told Al Jazeera that the letter had been "written" but not yet sent. That came after Iran’s mission to the UN said the country had received no such letter.

This isn't the first instance of a US president writing – or, in this case, claiming to have written – to Iran's Leader. Former President Barack Obama penned two letters to Ayatollah Khamenei, and Trump himself entrusted former Japanese Prime Minister Shinzo Abe with a message for the Leader during Abe's 2019 visit to Tehran. Ayatollah Khamenei declined to receive the letter, telling Abe that he didn't consider Trump a “worthy” interlocutor.

This also isn’t the first instance of Trump saying he wants a deal with Iran. He's been making this statement since 2018, the year he withdrew from the Joint Comprehensive Plan of Action (JCPOA).

That 2015 agreement, negotiated over at least two years by Iran, the United States, Britain, Russia, China, and Germany, traded limits on Iran's nuclear program for sanctions relief.

Trump's abandonment of the JCPOA and reimposition of sanctions not only undermined the agreement but ultimately spurred European nations to enact their own embargoes later, despite remaining official signatories.

On the same Thursday that Trump told a Fox anchor he wanted to negotiate with Iran, his Treasury Secretary, Scott Bessent, addressed the Economic Club of New York.

There, Bessent vowed that the president’s anti-Iran sanctions during his second term would be even more severe.

“We are going to shut down Iran’s oil sector and drone manufacturing capabilities,” Bessent stated, adding that the administration also intends to cut off Tehran’s access to the international financial system.

Multiple Iranian officials have reiterated in recent weeks that Iran will not engage in talks under pressure, aligning with a directive from Ayatollah Khamenei, who in early February described negotiations with the US as "unwise, unintelligent, and dishonorable."

Iranians’ deep-seated distrust towards the US is rooted in decades of American meddling in Iran's affairs, especially during the Pahlavi era. But Ayatollah Khamenei’s stance has especially hardened since Trump withdrew Washington from the JCPOA.

The fact that the president continues to threaten Iran with sanctions or military action is not helping ease Tehran’s concerns either. 

During his Fox Business interview, Trump stated his primary concern was preventing Iran from developing nuclear weapons. However, his decision to withdraw from the JCPOA – a deal that subjected Iran's nuclear facilities to unprecedented international scrutiny and compelled the country to roll back some of its advancements – suggests other priorities are at play.

As a February directive revealed, Trump's real goals are to force Iran to curtail its missile programs and sever ties with regional Resistance forces.

Analysts argue that publicizing a letter before it reaches the intended recipient serves primarily to advance Trump's own interests, rather than reflecting a genuine desire for good faith diplomacy.

Given Iran's sustained resistance to years of sanctions, it's clear that propaganda and media maneuvers alone will not compel the country to negotiate.

Iran also remains firm on its refusal to negotiate its military capabilities, and persistent or intensified Western pressure may ultimately force it to reconsider its nuclear doctrine. 

There's no guarantee that Trump's potential military options against Iran would achieve the desired outcome. Washington likely lacks the capacity to destroy all of Iran's fortified and dispersed nuclear sites, while a devastating response from Tehran would be all but certain.

 

Women key to prosperous rural communities

Women like Anta, Dorothy and Fatima are the backbone of rural societies in West Africa. Yet, they often face barriers to economic opportunities and leadership roles. Their stories remind us that, with the right support, women can lead transformative change in their communities and beyond.

Across West Africa, rural women are proving that small-scale agriculture isn’t just the backbone of sustainable food systems – it’s a powerful pathway to economic, social and political empowerment. Meet three inspiring women who are transforming their communities and paving the way for a more equitable future.

Anta’s journey from domestic work to video-maker

Anta is pursuing her dream of working as an agricultural entrepreneur in her community. When Anta was growing up in Ngoudiane, Senegal, young women had few options beyond leaving home to find domestic work in Dakar. Anta describes it as “miserable work,” but for many, it was the only choice.

Everything changed when the IFAD-supported Agri-Jeunes initiative trained 14 young women, including Anta, to build a farming business. Despite initial skepticism from their neighbours, Anta persevered.

With a start-up fund, they invested in seeds and land improvements, growing peppers, onions and other vegetables. After their first harvest, they reinvested their profits.

Today, Anta and her team are using YouTube to market their produce and inspire others to see farming as a viable, rewarding career.

“Why not stay here in your territory or here in Senegal to work the land? Because the land does not lie,” Anta says. “We believe this can change our village and can also change the world.”

Dorothy’s seeds of change

Dorothy markets certified seed in Nigeria with support from VCDP. Like many young people, Dorothy struggled to find work after completing her degree.  Despite her farming background, she never imagined agriculture could be a thriving business, until she discovered the IFAD-supported Value Chain Development Program (VCDP).

Through VCDP, Dorothy learned to produce rice seeds that have been certified for quality, which significantly boost yields. To convince local farmers to invest, she gave away seeds for free – and the results were undeniable: farmers saw their production multiply.

Today, Dorothy runs a successful agribusiness, outsourcing seed production to other farmers and providing them with training and supplies.

Fatima’s empowering journey

Fatima has led the rehabilitation of rice fields in her village. When Fatima was 17 years old, she was forced into an arranged marriage and subjected to domestic violence. After leaving with her two children and remarrying, she began cultivating her in-laws’ rice fields in Guinea-Bissau, but frequent flooding made the land unusable.

When her village learned about the IFAD-supported PADES project, which rehabilitates rice fields, Fatima joined a delegation to seek help. In 2019, the fields were restored with improved water management systems, and Fatima was elected chair of the rice field management committee.

Under Fatima's leadership, the village’s rice fields have flourished and she has become an advocate for women’s empowerment and girls’ education.

“Being in a decision-making position has allowed me to rebuild my life and heal the emotional wounds caused by having to leave school at 17,” she says. “I’ve regained my self-esteem.”

Courtesy: International Fund for Agricultural Development

Nasdaq plans round the clock trading

Nasdaq plans to introduce 24-hour trading on its flagship US exchange to capitalize on growing global demand for US equities, a senior executive said in a social media post on Friday, reports the Reuters.

International demand for the lucrative US equity market has surged in recent years, driven by rising retail participation, increasing financial literacy, and easier access to digital trading platforms.

The exchange operator has started discussions with regulators and expects to launch 24-hour, five days a week trading in the second half of 2026, Nasdaq President Tal Cohen wrote in a LinkedIn post.

A round the clock trading model will allow exchanges to tap into global demand - which is currently catered to by alternative trading platforms - by attracting investors across time zones, increasing trading volumes, and improving market liquidity.

"The global growth of investor demand for US equities means we stand at another pivotal moment for our markets – to broaden investor access, expand wealth-building opportunities, and redefine how markets function," Cohen said.

Nasdaq joins rival exchanges like Cboe Global Markets and Intercontinental Exchange, the operator of the New York Stock Exchange, in planning extended trading hours.

"I suspect regulatory approval will occur once the securities information processors are updated to handle round the clock markets," Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors told Reuters.

Exchanges might initially experiment with extended trading in large market-cap stocks, but "it will be interesting to see if they charge extra fees for extended trading," Schulman said. "Liquidity and fair market pricing will be relevant issues to address."

 

PSX remains under pressure

Pakistan Stock Exchange (PSX) experienced volatility early in the week but gained momentum with the benchmark index closing at 114,398 points on Friday, March 07, 2025, posting a gain of 1.01%WoW.

Inflation for February 2025, clocked in at 1.52%YoY, the lowest in 9 years, sparking investor optimism and fueling expectations of a potential rate cut in the upcoming Monetary Policy Committee (MPC) meeting scheduled for March 10, 2025.

Alongside reports about the government's efforts to eliminate circular debt in the power sector by borrowing PKR1.25 trillion from commercial banks at an interest rate of 10.8%.

The rally in Oil & Gas Exploration Companies, Cement and Oil & Gas Marketing Companies sectors was recorded.

Trade deficit for February clocked in at US$2.3 billion, up 33%YoY, due to 10%YoY increase in imports to US$4.7 billion.

OMC offtake was recorded at 1.136 million tons, up 2%YoY.

Market participation decreased due to Ramadan, with the average daily traded volume recorded at 290.33 million share as against 474.90 million shares in the earlier week, down 38.9%WoW.

PKR largely remained flat against the greenback throughout the week.

Other major news flows during the week included: 1) IMF may allow cut in FBR target below PkR12.5 trillion, 2) Cement dispatches post double-digit growth for second consecutive month, 3) FBR proposes reduction in tax rates for Beverages, tobacco and real estate sector, and 4) Public debt rose to PKR72.1 trillion.

Glass & Ceramics, Oil & Gas Marketing Companies, Oil & Gas Exploration Companies, Chemical and Mutual Funds were amongst the top performing sectors, while Leasing Companies, Inv. Banks/ Inv. Cos/ Securities Cos, Transport, Sugar & Allied Products and Automobile Assembler were amongst the worst performers.

Major selling was recorded by Individuals with a net sell of US$6.18 million. Companies absorbed most of the selling with a net buy of US$4.22 million.

Top performing scrips of the week were: GHGL, TGL, FCCL, SNGP, and PSO, while laggards included: MEHT, PGLC, ENGROH, JDWS, and MUREB.

According to AKD Securities, market is expected to maintain its positive trajectory, driven by an anticipated shift of funds from fixed income to equities amid falling fixed income yields.

With easing inflation, the upcoming MPC meeting will remain a key focus. Over the medium term, the benchmark index is anticipated to sustain its upward momentum through CY25, primarily driven by the strong profitability of Fertilizer companies, higher sustainable ROEs of Banks and improving cash flows of E&Ps and OMCs, benefitting from falling interest rates.

 

United States destroying world order

Valeriy Zaluzhnyi, Ukraine's former armed forces chief and current ambassador to Britain, said on Thursday that the United States was destroying the current world order, reports Reuters,

The popular general, who led Ukraine's defence in the first two years of Moscow's full-scale invasion, spoke as President Volodymyr Zelenskiy sought to mend fences with Washington after a fiery White House row with President Donald Trump.

Zaluzhnyi said Ukraine had held onto its independence despite "animus and threats coming even from friends".

His sharp remarks, made at London's Chatham House think tank, came after Trump froze military aid and intelligence-sharing with Kyiv in moves to push Zelenskiy into peace talks with Russia, while refusing to offer Kyiv security guarantees.

"It's obvious the White House has questioned the unity of the whole Western world," Zaluzhnyi said, "Because we see that it's not just the axis of evil and Russia trying to revise the world order, but the US is finally destroying this order."

European leaders on Thursday said they would stand by Ukraine - and boost defence spending - to enable them to stand up to Russia. But the US has been a key backer, and its intelligence, equipment and financial support have been crucial for Kyiv.

Zaluzhnyi is broadly popular in Ukraine and is seen as a potential challenger to Zelenskiy when Ukraine holds elections, although he has voiced no clear ambitions to run for office.

Elections are currently prohibited by the declaration of martial law after Russia began its full-scale invasion in February 2022.

Zelenskiy replaced Zaluzhnyi as army chief last year following battlefield setbacks. Russian forces now hold about 20% of Ukraine and have been gradually advancing in the country's east.

Zaluzhnyi added that Ukraine should receive security guarantees and "should avoid the role of bargaining chip in any negotiations".

 

US mulls plan to disrupt Iranian oil movement

President Donald Trump's administration is considering a plan to stop and inspect Iranian oil tankers at sea under an international accord aimed at countering the spread of weapons of mass destruction, sources familiar with the matter told Reuters.

Trump has vowed to restore a "maximum pressure" campaign to isolate Iran from the global economy and drive its oil exports to zero, in order to stop the country from obtaining a nuclear weapon.

Trump hit Iran with two waves of fresh sanctions in the first weeks of his second-term, targeting companies and the so-called shadow fleet of ageing oil tankers that sail without Western insurance and transport crude from sanctioned countries.

Those moves have largely been in line with the limited measures implemented during former President Joe Biden's administration, during which Iran succeeded in ramping up oil exports through complex smuggling networks.

Trump officials are now looking at ways for allied countries to stop and inspect ships sailing through critical chokepoints such as the Malacca Strait in Asia and other sea lanes.

Previous attempts to seize Iranian oil cargoes have triggered retaliation by Iran.

The US tried to interdict at least two cargoes of Iranian oil in 2023, under Biden. This prompted Iran to seize foreign ships - including one chartered by Chevron Corp, which sent crude prices higher.

The current low oil price environment gives Trump more options to block Iranian oil flows, from sanctions on tanker companies to seizing ships, according to Ben Cahill, an energy analyst at the Center for Energy and Environmental Systems at the University of Texas.

"I think if prices stay below US$75 a barrel, the White House has more latitude to look at sanctions that would affect, you know, supply from Iran and other countries. It would be much harder to do this in a US$92 per barrel environment," Cahill said.

Aggressive US action could cut Iran exports by some 750,000 barrels per day in the short term, he said, but the longer the sanctions are in place, the less effective they are as Iran and buyers figure out ways around them.

A speedy resumption of oil exports from Iraq's semi-autonomous Kurdistan region would help offset any fall in Iranian exports.

Reuters previously reported that the White House is piling pressure on Iraq to allow Kurdish oil exports to restart or face sanctions alongside Iran.

Despite US sanctions in recent years, Tehran's oil exports brought in US$53 billion in 2023 and US$54 billion a year earlier, largely in trades with China, according to US Energy Information Administration estimates.

Iran relies on oil exports to China for vital revenue. Russia, which faces restrictions on oil exports and broader Western sanctions, is similarly focused on shipping oil to buyers in China and India.

Finland and other Nordic countries have warned in recent months of the dangers of ships sailing close to their shores and the environmental risks they pose to their shores in oil spills if there is an accident.

While European countries have spoken about inspections of ships transporting Russian oil suspected of not having valid insurance, little action has been taken and none mooted for vessels hauling Iranian oil.

 

US rejects alternate Gaza reconstruction plan

According to Saudi Gazette, the Trump administration has rejected a long-awaited plan for the reconstruction of Gaza endorsed by Arab leaders, saying the president stands by his own vision which includes expelling the territory’s Palestinian residents and transforming it into a “riviera” owned by the United States.

“The current proposal does not address the reality that Gaza is currently uninhabitable and residents cannot humanely live in a territory covered in debris and unexploded ordnance,” National Security Council spokesman Brian Hughes said in a statement Tuesday night.

“President Trump stands by his vision to rebuild Gaza free from Hamas. We look forward to further talks to bring peace and prosperity to the region.”

The postwar plan for the Gaza Strip, which was proposed by Egypt and calls for Hamas to cede power to an interim administration until a reformed Palestinian Authority (PA) can assume control, would allow its roughly 2 million Palestinians to remain, in contrast to Trump’s proposal.

Speaking in Cairo, PA President Mahmoud Abbas pledged that general elections will be held in the West Bank, Gaza and occupied East Jerusalem for the first time in nearly two decades “if circumstances are suitable.”

Israeli Prime Minister Benjamin Netanyahu still refuses to say what he envisions for Gaza’s post-war future, except to say that he endorses Trump’s plan for “a different Gaza.” And he thinks neither the PA nor Hamas should govern Gaza.

The US$53 billion proposal by Arab nations calls for rebuilding Gaza by 2030. The first phase calls for starting the removal of unexploded ordnance and clearing more than 50 million tons of rubble left by Israel’s bombardment and military offensives.

CNN obtained a copy of the document, which lays out an ambitious plan to develop shopping malls, an international convention center and even an airport within five years. It also aims to attract tourists by building resorts and enhancing the enclave’s Mediterranean coast.

It also acknowledges the difficulties that could be faced in disarming militants in the Gaza Strip.

“It is something that can be dealt with, and even ended forever, only if its causes are removed through a clear horizon and a credible political process,” it says.

Senior Hamas official Sami Abu Zuhri told Reuters on Tuesday that the group’s arms were non-negotiable.

“The weapon of the resistance is a red line, and it is not negotiable,” he said. “We will not accept (any deal) to trade it for reconstruction or the entry of aid.”

Hamas has sent mixed signals about its future in Gaza in recent weeks. Analysts have said that while the group has shown that it is willing to discuss demilitarization as an end goal of a peace process, it is keen not to allow it to become a prerequisite of the process.

Osama Hamdan, a senior Hamas official, said last month that the group will not disarm and may even grow after the war in Gaza.

Last week, Hamas official Husam Badran said that the group was willing to step aside from governing Gaza.

“Our only condition is for this to be an internal Palestinian matter – we will not allow any regional or international party to get involved,” he told Al Arabiya. “As long as there is national consensus, Hamas will not be involved in the governance.”

Israel has blocked the entry of food, fuel, medicine and other supplies to Gaza to pressure Hamas to accept the agreement and has warned of additional consequences, raising fears of a return to fighting.

The suspension of aid drew widespread criticism, with human rights groups saying that it violated Israel’s obligations as an occupying power under international law.

Speaking at the summit announcing the plan for Gaza’s future, Egyptian President Abdel Fattah el-Sissi said there would be no “true peace” without the establishment of the Palestinian state.

Israel has vowed to maintain open-ended security control over both Gaza and the West Bank, which it captured in the 1967 Mideast war and which Palestinians want for their future state. Israel’s government and most of its political class are opposed to Palestinian statehood.

 

Israel: Eyal Zamir new IDF Chief

According to media reports, Eyal Zamir replaced Herzi Halevi as IDF chief of staff on Wednesday, also being promoted to lieutenant general, in the ceremony led by Prime Minister Benjamin Netanyahu and in the presence of all of the leaders of the defense establishment.

Along with the entire IDF high command, Mossad Director David Barnea and Shin Bet Director Ronen Bar were also in attendance, as was CENTCOM chief Michael Kurilla.

Netanyahu opened the speech thanking Kurilla, saying, “Your relationship with General Herzi Halevi was a tangible asset to our national security.”

“Until a few generations ago, we were pushed from place to place like straw in the wind,” but we returned our control of our fate, and “our history is [framed as] before the establishment of the IDF and after it. This doesn’t mean our enemies can’t attack us. We saw this on October 07, 2023 but unlike before we can” take the war to them, said the prime minister.

Netanyahu promised Israel would return all of the hostages and end Hamas’s military and political rule.

Next, he said that although Zamir had lost the race for IDF chief twice, that the third time was a charm and “the time of Zamir.”

He said that he had been very impressed by Zamir’s capabilities as his military secretary, in particular his ability to coordinate between the defense and political echelons.

The prime minister also complimented Zamir in his work at the defense ministry in helping Israel to become more independent in producing more of its own weaponry.

 

Lebanon controlled by “Eisenhower Doctrine”

The pretexts that imperialist colonial powers follow to expand their influence vary. What is happening at Beirut airport in Lebanon is nothing new. It is obvious that the US is trying to ensure its control over Lebanon’s vital facilities and airports.

It is evident that the recent expansion work undertaken by the US in Lebanon is aimed at encircling the resistance, or at the very least, exerting pressure on the Lebanese authorities to incite them against the resistance under the pretext of avoiding severe brutal sanctions.

Preventing Iranian flights from landing at Beirut airport seems to be a part of US President Donald Trump’s plan to control the world, sometimes by proposing plans to displace Palestinians and other times by occupying countries.

Washington considers controlling the northern part of the West Asia region, in addition to the southern part, especially the Persian Gulf countries, a fundamental issue in light of the conflict with competing powers, as was the case decades ago when the Soviet Union existed.

The “Eisenhower Doctrine” was implemented in the 1950s, during the era of President Camille Chamoun, when the US naval forces landed on the shores of Beirut. Their interest was focused on Beirut airport because ensuring influence lies in tightening the noose around strategic outlets such as public facilities and airports.

This is exactly what is happening today, as the US embassy in Beirut is only functioning as a military base that insults the sovereignty and prestige of the Lebanese state whenever it wants.

Since Beirut air base is the only international airport in Lebanon, it has sought to reactivate some airports, such as Rayak air base, which currently witnesses a suspicious American and British military presence, given its strategic location in the heart of the Bekaa Valley near the Syrian border.

In 2011, Rayak air base was officially opened as a military air base for the Lebanese army. Before opening, the airport underwent expansion work funded and supervised directly by the US embassy.

Recently, it underwent additional expansion work as large capacity hangars were added to it. It was equipped with modern radars and surveillance devices.

It is worth noting that the Lebanese army used Rayak air base during its battles with Jolani’s terrorist groups during the Liberation of the Bekaa Outskirts Battle in 2015, which culminated in late August 2017 with the total elimination of all terrorists in the eastern chain of Lebanon and its liberation.

The US embassy also controls Qlayaat air base on the northern coast of Lebanon as a logistical base linking them to US bases in Cyprus, Greece, and the rest of West Asia. 

It is worth noting that Qlayaat air base is close to Syria and close to the Russian air and naval bases in Tartous and Latakia, which enhances its strategic importance for the Americans.

There is also effort to establish a facility at Qlayaat air base to facilitate the entry of weapons to support their anti-Hezbollah proxies in Lebanon. 

Lebanon’s airports are small in size but large in influence, just as Lebanon itself, which is small in size but great in influence.

Courtesy: Tehran Times

Arabs reject forced Palestinian displacement

According to Saudi Gazette, the emergency Arab summit in Cairo has officially adopted Egypt’s Gaza reconstruction plan to rebuild the war-torn Gaza Strip, emphasizing the need for early recovery and comprehensive restoration efforts.

In its final statement, the summit announced the adoption of Egypt’s proposal, developed in coordination with Palestine and Arab nations, and based on studies by the World Bank and the United Nations Development Fund.

The plan is set to serve as a comprehensive Arab initiative to rebuild Gaza’s infrastructure and revive essential services.

The summit firmly rejected any forced displacement of Palestinians from their land, stating that such actions would constitute a crime under international law.

To reinforce this stance, an Arab legal committee has been assigned to examine whether the forced displacement of Palestinians can be classified as part of the crime of genocide.

Additionally, the statement condemned Israel’s recent decision to halt humanitarian aid to Gaza and close key border crossings used for relief efforts.

The summit labeled these actions as violations of the ceasefire agreement, international law, and international humanitarian law.

It also denounced Israel’s use of siege tactics and starvation of civilians as a means to achieve political objectives, calling for unimpeded humanitarian access to Gaza.

Gazans face tough choice, stay or go away

The level of destruction in Jabalia when viewed from the air is truly astonishing. A Hiroshima-like wasteland stretches as far as the eye can see. The mangled carcasses of buildings dot the churned-up landscape, some leaning at crazy angles.

Great undulating waves of rubble make it all but impossible to make out the geography of this once bustling, tightly packed refugee camp. And yet, as a drone camera flies over the wreckage, it picks out splashes of blue and white where small tent camps have been set up in patches of open ground.

And figures, clambering over broken buildings, moving along streets of dirt, where food markets are springing up under tin roofs and canvas awnings. Children using a collapsed roof as a slide. After more than six weeks of Gaza's fragile ceasefire, Jabalia is slowly coming back to life.

In the neighborhood of al-Qasasib, Nabil has returned to a four-story house that's somehow still standing, even if it lacks windows, doors and -- in some places -- walls. He and his relatives have made crude balconies out of wooden pallets and strung-up tarpaulin to keep out the elements.

"Look at the destruction," he says as he surveys Jabalia's ocean of ruins from a gaping upper floor.

"They want us to leave without rebuilding it? How can we leave? The least we can do is rebuild it for our children."

To cook a meal, Nabil lights a fire on the bare staircase, stoking it carefully with pieces of torn-up cardboard.

On another floor, Laila Ahmed Okasha washes up in a sink where the tap ran dry months ago. "There's no water, electricity or sewage," she says. "If we need water, we have to go to a far place to fill up buckets."

She says she cried when she came back to the house and found it wrecked. She blames Israel and Hamas for destroying the world she once knew. "Both of them are responsible," she says. "We had a decent, comfortable life."

Soon after the war began in October 2023, Israel told Palestinians in the northern part of the Gaza Strip – including Jabalia – to move south for their own safety. Hundreds of thousands of people heeded the warning, but many stayed, determined to ride out the war.

Laila and her husband Marwan clung on until October last year, when the Israeli military reinvaded Jabalia, saying Hamas had reconstituted fighting units inside the camp's narrow streets.

After two months of sheltering in nearby Shati camp, Leila and Marwan returned to find Jabalia almost unrecognizable.

"When we came back and saw how it was destroyed, I didn't want to stay here anymore," Marwan says. "I had a wonderful life, but now it's a hell. If I have the chance to leave, I'll go. I won't stay one more minute."

Stay or go? The future of Gaza's civilian population is now the subject of international debate.

In February, Donald Trump suggested that the US should take over Gaza and that nearly two million Palestinian residents should leave, possibly for good.

Faced with international outrage and fierce opposition from Arab leaders, Trump has subsequently appeared to back away from the plan, saying he recommended it but would not force it on anyone.

In the meantime, Egypt has led Arab efforts to come up with a viable alternative, to be presented at an emergency Arab summit in Cairo on Tuesday.

Crucially, it says the Palestinian population should remain inside Gaza while the area is reconstructed.

Donald Trump's intervention has brought out Gaza's famously stubborn side. "If Trump wants to make us leave, I'll stay in Gaza," Laila says. "I want to travel on my own free will. I won't leave because of him."

Across the way sits a nine-story yellow block of flats so spectacularly damaged it's hard to believe it hasn't collapsed.

The upper floors have caved in entirely, threatening the rest. In time, it will surely have to be demolished, but for now it's home to yet more families. There are sheets in the windows and washing hanging to dry in the late winter sunshine.

Most incongruously of all, outside a makeshift plastic doorway on a corner of the ground floor, next to piles of rubble and rubbish, stands a headless mannequin, wearing a wedding gown. It's Sanaa Abu Ishbak's dress shop.

The 45-year-old seamstress, mother of 11, set up the business two years before the war but had to abandon it when she fled south in November 2023.

She came back as soon as the ceasefire was announced. With her husband and daughters, she's been busy clearing debris from the shop, arranging dresses on hangers and getting ready for business. "I love Jabalia camp," she says, "and I won't leave it till I die."

Sanaa and Laila seem equally determined to stay put if they can. But both women speak differently when they talk of the young.

"She doesn't even know how to write her own name," Laila says of her granddaughter. "There's no education in Gaza."

The little girl's mother was killed during the war. Laila says she still talks to her at night.

"She was the soul of my soul and she left her daughter in my hands. If I have the chance to travel, I will do so for the sake of my granddaughter."

Courtesy: Saudi Gazette

Iran: Zarif tenders resignation

Mohammad Javad Zarif, Iran’s vice president for strategic affairs, has announced his resignation, stating that he was instructed to step down by a high-ranking official.

In a post on his social media X account, Zarif stated, “The head of the judiciary, considering the country’s current situation, advised me to return to academia in order to prevent further pressure on the government, and I immediately accepted.”  

He revealed that he met with Gholamhossein Mohseni Ejei, who suggested that stepping down would ease tensions on the government. Zarif added that he hoped his departure would remove obstacles facing the administration.  

Despite Zarif’s public announcement, government spokesperson Fatemeh Mohajerani clarified that President Masoud Pezeshkian has not yet accepted the resignation. 

Speaking to IRNA on Monday, Mohajerani also addressed the possibility of additional changes within the government. She noted that the law governing appointments to sensitive positions is currently under review by the Social Committee of the Iranian Parliament, adding that officials hope for a swift resolution that will serve the national interest.

“We remain committed to the law, and its implementation is our duty,” Mohajerani said. “However, the reality is that Article 2 of this law could lead to the loss of a significant number of skilled professionals. We hope that a balanced approach will be taken to prevent unnecessary disruptions.”

The debate over Zarif’s position within the government stems from a legal provision that prohibits individuals from holding sensitive government positions if their immediate family members have foreign citizenship. Under Article 2 of the Law on the Appointment of Individuals to Sensitive Positions, Zarif’s appointment was considered illegal because two of his children hold dual US citizenship.

From the outset of the Pezeshkian administration, several members of Parliament have challenged Zarif’s appointment, arguing that it directly contradicts legal requirements. Lawmakers critical of his role have persistently called for his removal, viewing his appointment as a breach of national security policies designed to limit foreign influence within key government positions.

Zarif is a seasoned Iranian diplomat. He served as Iran’s foreign minister for 8 years during the 2010s and was a key figure in the inking of the 2015 Iran nuclear deal. He has also been a professor at the prestigious University of Tehran for many years. 

 

Ships being targeted in Singapore Strait

Three incidents were reported in the Philip’s Channel on February 28 between 00:30 and 07:00 hours local time, including one involving the Singapore-registered chemical tanker Basset where a seafarer was injured and evacuated to hospital, reports Seatrade Maritime News.

According to ReCAAP engine spares were stolen in one incident and nothing was taken in the other two. Engine spares are a common item to be stolen in such robbery incidents in the Singapore Strait.

The Information Fusion Centre (IFC) believes that the three incidents on February 28 may have involved the same gang of perpetrators.  IFC noted that the first two incidents, both on bulk carrier Ifestos and DSM Rose were within 1.1 nm of each other, took place less than hour apart, and 5 – 6 perpetrators were reported to have been involved. In the second and third incidents, the latter in which a crew member was injured, the perpetrators reported to be armed with similar equipment.

In total there have been 21 incidents of robbery against ships in the Singapore Strait this year, up from six in the same period last year, and some 16 of these incidents took place in the Philip’s channel with vessels transiting in an easterly direction.

IFC noted that the incidents in Philip’s Channel took place at an area where vessels heading in the Singapore Strait typically reduce speed significantly making them more susceptible to attacks.

While the three attacks on February 28 are believed to be the work of the same group, IFC believes there are multiple groups of perpetrators in the region targeting vessels.

“Based on past trending, it was assessed that there were likely multiple groups of perpetrators operating in the PC, and these perpetrators had good knowledge of local waters and would continue to blend in with the traffic under the cover of darkness, and board when opportune. Perpetrators may target multiple vessels in the same night or over subsequent nights in the same area, especially if previous attempts were unsuccessful,” IFC said in its observations on the incidents.

In 2024 some 54 of the 62 ship robbery incidents in the Singapore Strait took place in the Philip’s Channel.

IFC recommended heightened vigilance, particularly when transiting through Philips Channel in hours of darkness. Ship’s crew were advised not confront the perpetrators and to immediately report incidents to the local authorities and the IFC.

ReCAAP issued similar advice in terms of enhanced vigilance when transiting the area as well repeating previous calls for increased action for the authorities.

 “The ReCAAP ISC urges the littoral States to increase patrols/surveillance in their respective waters, respond promptly to incidents reported by ships, strengthen coordination and promote information sharing on incidents and criminal groups involved to arrest the perpetrators,” it said.

 

 

Israel using food as a weapon against Gazans

Israel has imposed a block on all aid entering the Gaza Strip following the end of the first phase of the January 19 ceasefire deal. Prime Minister Benjamin Netanyahu's office issued a statement on Sunday confirming that Israel had blocked the entry of all goods into Gaza, Middle East Eye reported.

The move, which coincides with the fasting month of Ramadan for Muslims, came after Hamas refused to accept the extension of the first phase of the ceasefire deal.

Though, Israel has stopped, possibly temporarily, dropping bombs on Gazans, its recent moves openly confirm that it was starving the Gazans during the nearly 16-month war to make the resistance fighters surrender.

The statement by Netanyahu’s office added, “Israel will not allow a ceasefire without the release of our hostages. If Hamas continues its refusal, there will be further consequences."

There are certain reasons for setting such a condition. Most importantly, Israel feels humiliated that despite its nearly 16-month cruel war on Gaza, it failed to defeat resistance fighters.

It is an open secret that Israel was starving Gazans, and the UN officially were constantly warning about this act. His then so-called defense minister Yoav Gallant said, "I have ordered a complete siege on the Gaza Strip. There will be no electricity, no food, no fuel, everything is closed. We are fighting human animals and we act accordingly."

Israel is notoriously famous for breaking promises, agreements, and international laws. Now, contrary to the terms of the ceasefire agreement, Netanyahu is seeking to extend the initial exchange phase to secure the release of as many Israeli captives as possible without offering anything in return or fulfilling the military and humanitarian obligations of the agreement.

In addition to feeling humiliated to defeat the resistance fighters, Netanyahu is using aid as a weapon to force Hamas officials to give in to his demands, which are contrary to what has been agreed in ceasefire agreement, to find a pretext to resume the war as it has been openly implied in the Sunday statement, and finally force the people to leave their homes in line with the proposed Trump plan for Gaza and the greater project of ethnically cleansing Palestinians from their motherland.   

 

Ramadan in Gaza: Faith Amid Ruins

Ramadan begins in Gaza as the devastation from Israeli attacks remains overwhelming. Despite the destruction, Palestinians are determined to observe the holy month.

After almost 16 months of relentless bombardment, much of Gaza lies in ruins. Families that once gathered around dinner tables now break their fast on the cold ground, surrounded by the wreckage of their homes.

In the shattered Jabaliya refugee camp, simple meals of lentils and bread are cooked over makeshift fires.

Entire neighborhoods have been reduced to rubble, hospitals are barely functioning with dwindling supplies, and essential infrastructure has collapsed.

The United Nations reports that almost the entire population of Gaza has been forcibly displaced. Many now live in overcrowded shelters, tents, or temporary homes built from salvaged debris.

Yet, amid these hardships, the spirit of Ramadan endures. Families gather for iftar (breaking the fast), children find moments to play among the ruins, and the faithful continue to pray, even in mosques that have been destroyed.

In Gaza City, men lay prayer rugs on cracked pavement, reciting verses from the Quran as dust and smoke fill the air.

“We have lost so much,” says Ahmed, a father of four whose home was destroyed in an airstrike. “But our faith and resilience can never be taken from us.”

Adding to their struggles, Gaza is now dealing with severe flooding. Heavy rains have turned tent cities into muddy swamps, with drainage systems too damaged to handle the water.

In some areas, people wade through waist-deep floods, trying to salvage what little they have left.

Sixty-seven-year-old Mahmoud Abu Sitta, who lost his home in the bombings, now sleeps in a tent slowly filling with rainwater.

“First the bombs, now the floods,” he says. “It feels like the suffering never ends.”

Yet, even in these dire conditions, the people of Gaza hold onto their traditions.

The communal spirit of Ramadan remains strong. Those who have little still share with their neighbors. Volunteers distribute food and supplies despite struggling themselves.

In a small bakery that remarkably survived the airstrikes, young men work tirelessly, baking flatbreads to feed families with nothing left.

“This is what Ramadan teaches us,” says Youssef, one of the bakers. “To give, to care for one another, even when we are suffering.”

Evening prayers, once held in grand mosques, now take place in makeshift spaces, inside tents, on street corners, or in the shadows of collapsed buildings.

Each prayer is a plea for relief, justice, and an end to the suffering that has defined life in Gaza for too long.

Humanitarian aid remains slow to arrive, border crossings are tightly controlled by the Israeli occupation regime, and political negotiations offer little certainty.

A fragile ceasefire has brought temporary calm, but on Sunday, Israeli authorities halted humanitarian aid shipments, pressuring Hamas to agree to the regime’s conditions for extending the truce.

Hamas has urged mediators to ensure the occupation regime abides by the ceasefire agreement, which includes negotiations for a second phase that would see Israeli forces withdraw from Gaza.

Despite everything, Gaza’s people persist. They fast, they pray, and they hope. They rebuild their lives, even when the world seems to have abandoned them.

As the call to prayer echoes over the devastated land, it carries the unwavering resilience of a people who refuse to be broken, even as everything around them has crumbled.

 

Iraq-Turkey pipeline capacity utilization

Turkey wants an Iraq-Turkey oil pipeline to operate at maximum capacity once it resumes flows through Turkey's Ceyhan, Turkish Energy Minister Alparslan Bayraktar was quoted as saying by the state-owned Anadolu news agency on Sunday.

The pipeline was halted by Turkey in March 2023 after the International Chamber of Commerce (ICC) ordered Ankara to pay Baghdad US$1.5 billion in damages for unauthorized exports between 2014 and 2018.

Turkey has said since late 2023 that it is ready to resume operations at the pipeline, carrying oil exports from the semi-autonomous Kurdistan region. Bayraktar told Reuters last month that Ankara had not received confirmation on resuming flows.

On Friday, eight international oil firms operating in Iraq's Kurdistan region said they would not resume oil exports through Turkey's Ceyhan despite an announcement from Baghdad that the restart was imminent.

"This pipeline has been ready for 1.5 years already. We want the Turkey-Iraq pipeline, especially the two pipelines of 650 km from our Silopi to Ceyhan to be used," Bayraktar said.

"We want some of the oil passing through this line to go to the refinery in Kirikkale, and also via ships through Ceyhan, to refineries in Turkey or to different refineries in the world, so that the capacity of the line can be used at the maximum level," he added.

Bayraktar also said a planned trade route project involving Turkey and Iraq, dubbed the Development Road Project, included the construction of a pipeline reaching the Persian Gulf for the Iraqi oil flows to go to global markets via Turkey.

 

Iran: Foreign outfits attempting to destabilize Sistan and Baluchistan province

Iranian Intelligence Minister Esmaeil Khatib said the foreign adversaries are attempting to destabilize the southeastern province of Sistan and Baluchistan by using external elements to fuel insecurity. His remarks came in the wake of a major counterterrorism operation that resulted in the dismantling of a Takfiri terrorist network and the seizure of a significant cache of weapons and explosives.  

Speaking during a visit to the province on Friday, Khatib stressed that Iran’s enemies have historically sought to create unrest within the country.

"From the very beginning of the Islamic Revolution, adversaries have continuously plotted against the Islamic Republic. Today, we see that efforts to incite insecurity are being carried out by foreign-backed agents who have no connection to the people of this region," he said.  

Khatib urged vigilance and national unity in the face of these threats, warning that hostile forces seek to exploit every opportunity to sow discord.

"The enemies will use any means at their disposal to create chaos, but the Iranian people have consistently resisted such conspiracies through awareness and solidarity. Now, more than ever, we must remain alert and prevent external actors from destabilizing our country," he emphasized.  

The intelligence minister reaffirmed the government's commitment to safeguarding security in the southeastern province, calling for enhanced cooperation between the public and local authorities. "Ensuring peace and stability in Sistan and Baluchistan is a top priority. We must not allow our enemies to use this region as a launching pad for their destructive agendas," he stated.  

Khatib reassured that Iran’s intelligence forces are closely monitoring and countering any threats to national security.

"The Ministry of Intelligence will not hesitate to take action against any attempts to undermine stability. We will continue to work relentlessly to protect the nation and uphold peace," he declared.

He also expressed gratitude to the people and officials of Sistan and Baluchistan for their crucial role in maintaining security.  

The counterterrorism operation, conducted on Wednesday, uncovered four warehouses filled with arms and explosives belonging to the terrorist group.

According to local media reports, security personnel confiscated 226 light and heavy weapons, including pistols, Kalashnikov rifles, and Goryunov machine guns.  

 

Trump still supplying arms to Israel

According to media reports, the US State Department has approved the sale of nearly US$3 billion worth of bombs, demolition kits and other weaponry to Israel. The weapons sales were notified to Congress on Friday afternoon on an emergency basis. 

That process sidestepped a long-standing practice of giving the chairs and ranking members of the House Foreign Affairs and Senate Foreign Relations Committees the opportunity to review the sale and ask for more information before making a formal notification to Congress.

The sales included 35,529 general-purpose bomb bodies for 2,000-pound bombs and 4,000 bunker-busting 2,000-pound bombs made by General Dynamics. While the Pentagon said that deliveries would begin in 2026, it also said “there is a possibility that a portion of this procurement will come from US stock which means immediate delivery for some of the weapons.

A second package, valued at US$675 million, consisted of five thousand 1,000-pound bombs and corresponding kits to help guide the “dumb” bombs. Delivery for this package was estimated to be in 2028. A third notification consisted of US$295 million worth of Caterpillar D9 bulldozers.

Friday’s announcements marked the second time this month the Trump administration has declared an emergency to quickly approve weapons sales to Israel. The Biden administration also utilized emergency authorities to approve the sale of arms to Israel without congressional review.

On Monday, the Trump administration rescinded a Biden-era order that required it to report potential violations of international law involving US-supplied weapons by allies, including Israel. It has eliminated most US humanitarian foreign aid.

Since Israel’s inception, it has received hundreds of billions of dollars in US foreign aid, a level of support that reflects many factors, including a US commitment to Israel’s security and the countries’ shared foreign policy interests in the Middle East.

Israel is a leading buyer of US weapons systems via traditional arms sales. The Council on Foreign Relations (CFR) report found Israel as one of the largest cumulative recipient of US foreign aid since its founding, receiving about US$310 billion in total economic and military assistance.

Nearly all US aid today goes to support Israel’s military, the most advanced in the region. The United States has provisionally agreed via a memorandum of understanding (MoU) to provide Israel with $3.8 billion per year through 2028, as per the CFR report.

The report also highlighted that since the start of Israel’s conflict with Hamas on October 07, 2023, the US has enacted legislation providing at least US$12.5 billion in direct military aid to Israel, which includes US$3.8 billion from a bill in March 2024 and US$8.7 billion from a supplemental appropriations act in April 2024.

 

Pakistan: Suicide attack kills top cleric

The bombing of Darul Uloom Haqqania in KP’s Nowshera district on Friday marks a departure from the recent trend of militants targeting mostly security personnel and government officials. A number of victims lost their lives in the tragedy, including Maulana Hamidul Haq Haqqani, head of the institution, who appeared to be the religious heir of his murdered father, Maulana Samiul Haq.

The latter, along with his involvement in Pakistani politics, was known as the ‘Father of the Taliban’; he had earned the moniker because numerous high-ranking Afghan Taliban leaders had attended his madressah. Media reports have quoted police officials as saying that it was a suicide blast, and that Hamid Haqqani was the apparent target.

While no group has claimed responsibility for the terrorist attack, the Afghan Taliban have insinuated that the self-styled Islamic State may be involved. An Afghan interior ministry official, while condemning the attack, pinned the blame on “enemies of religion”, an apparent reference to IS.

Those familiar with the militancy dynamics of the region also concur that there is a strong possibility that this is IS-K’s handiwork, as the latter had been openly critical of the Haqqania seminary.

There is, of course, no love lost between the Afghan Taliban and IS, but from Pakistan’s point of view, if the attack were indeed traced to IS, it would signal a fresh security challenge in KP.

Already the province, as well as parts of Baluchistan, are witnessing frequent terrorist activity believed to be carried out by the banned TTP and affiliated groups. IS is an equally — if not more — ferocious entity, with global pretensions and a mediaeval, sectarian outlook.

What adds further credence to the belief that IS may be involved is that the group, and those adhering to its ideological narrative, view clerics who endorse democracy in any form with disdain. The late Haqqania head, as well as his father, were active in politics, along with their religious activities.

It is also a possibility that the Haqqanis’ strong links with the Afghan Taliban could have made them prime targets for rival militants. Only a thorough probe can establish the facts, while fresh IS activity in the country should be cause for considerable concern.

Nevertheless, the attack also offers an opportunity for Islamabad and Kabul to work together against a common, and highly dangerous foe.

Courtesy: Dawn

 

 

Why no oil pipeline after Trans Mountain?

The Canadian energy sector has proposed several major oil pipeline projects in the last decade, but only the Trans Mountain expansion project was completed.

There are three other pipelines that never came to be:

Energy East

A proposed C$15.7 billion project (US$11.0 billion), Energy East would have carried oil cross-country from Alberta to the Atlantic province of New Brunswick. It was cancelled in 2017 by TC Energy in the face of regulatory hurdles and opposition from environmental groups, particularly in Quebec.

Northern Gateway

This pipeline was proposed by Enbridge in 2006 to carry oil from Alberta to British Columbia's northwest coast. The C$7.9 billion project (US$5.5 billion) faced opposition from local and Indigenous communities who feared the risk of a marine spill. The project died in 2016 after Prime Minister Justin Trudeau's government cancelled its permits.

Keystone XL

This proposed TC Energy project would have carried oil from the oilsands of northern Alberta to the major US crude storage hub at Cushing, Oklahoma and then on to US Gulf Coast refineries. The project was rejected on environmental grounds by former US President Barack Obama's administration, then revived during President Donald Trump's first administration. Former President Joe Biden revoked the pipeline's permit on his first day in office in 2021.

TC Energy spun off its oil pipeline business in October last year into a new company named South Bow Energy. Trump said on Monday he wanted the pipeline built, but South Bow said it had moved on.

TC Energy has sought to recover more than US$15 billion from the US government for cancellation of the project

 

Five Takeaways from Trump-Vance-Zelensky meeting

An astonishing scene played out in the Oval Office on Friday as President Trump and Vice President Vance got into a shouting match with Ukrainian President Volodymyr Zelensky, reports The Hill.

Amid angry crosstalk, Trump told Zelensky “without us, you don’t have any cards” and “you’re gambling with World War III.” Vance, for his part, accused Zelensky of being “disrespectful.”

Zelensky had taken issue with Trump’s depiction of him as having so much “hatred” for Russian President Vladimir Putin that it made it hard to end the conflict.

The Ukrainian president also pushed back on Vance’s suggestion that diplomacy could end the war — insisting that his nation had previously adopted that approach after Russia annexed Crimea in 2014, only for Putin to launch a full-scale invasion in 2022.

The clash derailed the proposed signing of a deal granting the United States some rights over Ukraine’s mineral deposits. A news conference between Trump and Zelensky that had been scheduled was abruptly canceled, and Zelensky left the White House without further comment.

Here are five big takeaways:

A row heard around the world

It’s hard to exaggerate the seismic shock created by the squabble in the Oval Office.

The political world, in the US and internationally, was instantly aflame over what had taken place. On cable news, usually loquacious anchors were left struggling for words.

It’s been years, if ever, since such a spectacle was seen on public display at the White House.

Inevitably, the shock spurred fevered speculation. One big question was whether Trump and Vance had intentionally provoked Zelensky, whom Trump recently dubbed a “dictator,” into a confrontation.

The other was whether the Ukrainian leader had reacted too intemperately in the moment, to the detriment of his national interests.

Certainly, Trump’s initial comments about Zelensky’s “hatred” for Putin carried a disparaging tone that it is hard to imagine being expressed toward any other US ally who was trying to repel an invasion. 

Likewise, Vance’s role will be closely dissected, especially his reference to Zelensky being “disrespectful” and his demands that the Ukrainian president say “thank you” for US aid.

But Zelensky’s volleys back made it clear he was not going to adopt the mollifying tone used by the week’s other high-profile visitors to the White House, French President Emmanuel Macron and British Prime Minister Keir Starmer.

The White House has seemed to celebrate the encounter.

Meanwhile, a photo posted by CNN’s Kaitlan Collins of the Ukrainian ambassador to the US with her head in her hands during the encounter told its own story.

Now what?

The big question is where things go from here.

The minerals deal was presented, at least in some quarters, as a way to reimburse the US for future assistance to Ukraine, but Trump had been conspicuously vague on the key point of whether Washington would offer firm security guarantees in return.

Now, with that deal presumably shelved for the foreseeable future, nobody honestly knows what happens.

Zelensky could lean more heavily on Europe for both military and diplomatic support. Macron and Starmer have far more pro-Ukrainian viewpoints than does Trump. 

Italian Prime Minister Giorgia Meloni, who has more of a Trump-like worldview, called on Friday for an immediate summit between the US and European nations to discuss Ukraine.

If the spigot of US aid is to be choked off and a piqued Trump is now fully embittered against Zelensky, the future looks bleak from a Ukrainian perspective.

It’s also worth noting that neither the US nor its European allies are willing to put boots on the ground during the war itself, for fear of being drawn into their own war with Russia

The suggestion so far is that the Europeans might help shore up a peace agreement — if one is reached.

Democrats, Trump critics blast Trump for helping Putin

Prominent Democrats blasted Trump and Vance for how they conducted the meeting with Zelensky, and some other Trump foes joined in.

Senate Minority Leader Chuck Schumer on social media accused Trump and Vance of “doing Putin’s dirty work” and pledged that “Senate Democrats will never stop fighting for freedom and democracy.”

Sen. Elizabeth Warren contended that it was “shameful and dangerous” for Trump to engage, as she saw it, in “treating the destruction of a democracy as a political show — throwing Ukraine to the wolves and doing a favor for Putin.” 

Meanwhile, former Republican congresswoman and leading Trump critic Liz Cheney said on social media that Trump and Vance had “attacked Zelenskyy and pressured him to surrender the freedom of his people to the KGB war criminal who invaded Ukraine.”

Cheney added, “History will remember this day— when an American President and Vice President abandoned all we stand for.”

Trump loyalists wear such disapproval as a badge of honor, of course. But there is no mistaking how deep the dismay runs on the other side.

Republicans counter that Trump stood up for American interests

GOP voices rushed to acclaim Trump — and often bash Zelensky — for the way the Oval Office drama went down.

Broadly, the chorus of Republican approval viewed Trump as standing up for American interests and cast Zelensky as an ingrate.

Treasury Secretary Scott Bessent told Bloomberg that the Ukrainian president “chose to let things go into a downward spiral on worldwide television.”

Sen. Lindsey Graham said he had “never been more proud” of Trump and blamed Zelensky for a “disrespectful” display.

“I don’t know if we can ever do business with Zelensky again,” Graham said.

Sen. Bill Hagerty, alluding to the contrast with the Biden presidency, wrote on social media, “The United States of America will no longer be taken for granted. The contrast between the last four years and now could not be clearer. Thank you, Mr. President.” 

The White House Office of Communications collated many such responses and sent them out in an email with the subject line, “Support Pours in for President Trump, VP Vance’s America First Strength.”

Happiest of all: Russia

For all the delight expressed by some of Trump’s domestic allies, the real gloating seemed to come from Moscow.

Putin ally Dmitry Medvedev, who served as Russia’s president more than a decade ago, celebrated on social media that “the insolent pig finally got a proper slap down in the Oval Office.”

Medvedev also endorsed Trump’s view that Zelensky was gambling with World War Three. 

The Associated Press (AP) quoted a Russian lawmaker, Andrei Klishas, as describing the outcome of the meeting as “a brilliant result.”

Klishas, per the AP, wrote on Telegram that Zelensky had “played his role of a ‘president’ poorly in the White House and was thrown out for bad behavior and disrespect towards the US.”

Whatever Trump’s intentions, the current picture could hardly look rosier from the Kremlin’s perspective. 

Russia has been advancing on the battlefield, Ukraine is now starkly at odds with its chief benefactor and it’s not at all clear Trump will press Putin for major concessions in any peace deal.

 

PSX remains volatile throughout the week

Pakistan Stock Exchange (PSX) remained volatile throughout the week, with the KSE-100 index closing at 113,252 points, up 0.4%WoW on Friday February 28, 2025.

The week started on a positive note, buoyed by initiation of talks for up to US$1.5 billion climate financing from IMF, government proposals for energy tariff cuts and resolving circular debt, and strong corporate results, particularly from banking and cement sector.

However, the momentum faded during the latter half of the week due to absence of fresh triggers.

On the climate financing front, authorities are discussing the implementation of carbon levy, meanwhile, IMF has objected the exemption of sales tax on local EV component sales.

On the macro front, Pakistan signed several accords and committed to boosting bilateral trade with Azerbaijan and Uzbekistan during the Prime Minister's visits to respective countries and signed agreements with UAE during the visit of Abu Dhabi’s Crown Prince.

Inflation is expected to ease further to a nine-year low of 1.9%YoY in February 2025, driven primarily by falling food and energy tariffs.

On the external front, foreign exchange reserves held by State Bank of Pakistan (SBP) rose by US$21 million to US$11.2 billion.

Domestic currency depreciated by 0.04%WoW to close at PKR279.67/US$.

Market participation also remained subdued during the week, with average daily traded volume falling by 17%WoW to 492 million shares, from 593 million shares a week ago.

Other major news flow during the week included: 1) GoP collected PKR23 billion from 16 banks against windfall tax, 2) Pakistan, Vietnam set US$3 billion annual trade target, 3) SBP invites bids for PKR200 billion PFL buyback auction, 4) Pakistan, Iran agree to boost bilateral trade to US$10 billion, and 5) Petroleum Division proposes PKR392.5 billion PSDP for in-house projects.

Glass & Ceramics, Real Estate Investment Trust, and Commercial Banks were amongst the top performing sectors, while Jute, Property, & Leasing Companies were the laggards.

Major selling was recorded by Individuals and Foreigners with an aggregate net sell of US$24.5 million. Mutual Funds absorbed most of the selling with a net buy of US$31.6 million.

Top selling scrips of the week were: TGL, PKGP, MLCF, NATF, and AGP, while laggards included: MEHT, NCPL, BIPL, SEARL, and AKBL.

According to AKD Securities, market outlook remains positive, with upcoming meeting of Monetary Policy Committee (MPC) meeting scheduled for March 10, 2025, and any developments on IMF review remaining in the investor’s focus.

Over the medium term, the KSE-100 is anticipated to remain on upward trajectory, primarily driven by strong earnings in Fertilizers, sustained ROEs in Banks, and improving cash flows of E&Ps and OMCs, benefiting from falling interest rates and economic stability.

Top picks includes, OGDC, PPL, MEBL, MCB, HBL, FFC, ENGROH, PSO, LUCK, FCCL, ILP, INDU, and SYS.