Israel deploys additional brigades into Gaza

The Israeli military has deployed nine additional infantry and armored brigades into the Gaza Strip within the last 24 hours, signaling a further escalation in its ground offensive across the enclave, Israel's public broadcaster KAN reported.

The reinforcements are part of an expanded military operation approved earlier this month under what Israeli officials have termed the “Chariots of Gideon” plan, a long-term campaign involving sustained ground combat and wide-scale displacement of Gaza’s civilian population.

According to KAN, the army’s operations are currently focused on two main areas: northern Gaza and the southern city of Khan Younis.

The military has warned residents in those areas to evacuate ahead of intensified aerial bombardments, though reports from humanitarian groups and residents indicate many displaced civilians continue to face attacks during their movement and in supposed safe zones.

The Israeli army previously deployed Divisions 252, 143, and 36 to Gaza. In the last week, it added Divisions 98 and 162, with the latest deployment further bolstering ground forces already operating in the Strip. No official figures have been released regarding the number of troops involved.

On May 4, Israel’s Security Cabinet gave formal approval to expand the military campaign. The government subsequently began mobilizing tens of thousands of reservists and launched a coordinated ground assault on May 18 from multiple directions.

The International Organization for Migration (IOM) reported Friday that more than 172,000 people in Gaza have been newly displaced in the past week alone, adding to the worsening humanitarian crisis.

Israel has stated that its forces are working to evacuate civilians from designated combat zones, though aid agencies have warned of ongoing strikes on displaced populations.

Since the start of the conflict in October 2023, more than 53,900 Palestinians have been killed, according to Gaza health authorities. The majority of those killed are reported to be women and children.

Israel continues to face mounting international scrutiny over its military campaign. In November, the International Criminal Court (ICC) issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant, citing alleged war crimes and crimes against humanity in Gaza.

Additionally, proceedings continue at the International Court of Justice (ICJ), where Israel is the subject of a genocide case brought forward by South Africa.

The Israeli government has rejected international ceasefire calls and maintains that its operations are aimed at neutralizing threats from militant groups operating within Gaza.

Iran: Uranium Enrichment Sovereign Right

Amid the ongoing tensions surrounding Iran’s nuclear program, one crucial fact often gets buried beneath heated political arguments. Iran, as a member of the Nuclear Non-Proliferation Treaty (NPT), holds an explicit legal right to enrich uranium for peaceful purposes. 

Any attempts to curtail Iran's legitimate nuclear rights not only contradict international law but also ignore the profound domestic consensus and national resolve to maintain this crucial aspect of Iran's technological and strategic independence.

The continued US insistence that Iran abandon enrichment activities not only contradicts international law but also undermines global diplomatic norms that Washington claims to advocate. Established in 1970, the NPT serves as the cornerstone of global nuclear policy. Article IV clearly states that all signatory nations have the "inalienable right" to develop nuclear technology for peaceful applications without discrimination.

Over the years, Iran has consistently stated that its uranium enrichment is intended solely for energy production and medical purposes. Typically, uranium enrichment levels around 3% to 5% are necessary for nuclear power.

Although, recent reports from the International Atomic Energy Agency (IAEA) indicate Iran has increased its enrichment to higher levels, international law does not explicitly prohibit enrichment itself, provided it remains for civilian purposes. 

US stance

The US claims Iran's enrichment poses a proliferation risk and demands a complete halt. However, this stance is fundamentally political and lacks strong legal justification. 

The Trump administration’s withdrawal from the JCPOA in 2018, despite Iran’s initial full compliance, significantly damaged diplomatic credibility.

Recent indirect negotiations mediated by Oman, along with high-profile visits to West Asia by President Donald Trump and his envoy Steven Witkoff, highlight the complexity of these discussions. 

One of the important points that should be mentioned here is that the US negotiators knew from the outset that uranium enrichment represents an uncompromising "red line" for Iran.

Initiating talks under conditions demanding a halt in enrichment was unrealistic and demonstrates either a lack of understanding or disregard for Iran’s firm diplomatic stance.

Double standards

US credibility is further undermined by apparent double standards. Countries like Brazil, Argentina, Germany, and Japan all have uranium enrichment programs under IAEA supervision without facing similar scrutiny or pressure. Subjecting Iran uniquely to intense pressure based on geopolitical factors weakens the integrity of the global non-proliferation system.

If rights granted by the NPT become selectively applied based on political alliances and agendas, the entire framework could collapse. Nations would see little reason to adhere to non-proliferation and disarmament norms if they perceive that these rights can be arbitrarily revoked.

For Iran, uranium enrichment goes beyond civilian purposes, offering vital strategic leverage and acting as a deterrent. Given regional tensions, Iran views its nuclear capabilities as crucial to national security, making US demands for complete cessation strategically unrealistic and politically impossible.

A sovereign right

Iran’s unwavering pursuit of a peaceful nuclear program is not merely a policy choice; it is an inalienable right, firmly rooted in international law and a matter of national sovereignty.

As a committed signatory to the NPT, Iran has consistently affirmed its entitlement to develop, research, produce, and utilize nuclear energy for peaceful purposes, without discrimination.

This right, enshrined in Article IV of the NPT, is a fundamental principle of global non-proliferation, and Tehran's consistent adherence to its obligations, including rigorous inspections by the International Atomic Energy Agency (IAEA), underscores its transparency and commitment to a non-military nuclear future.

Demand Iran to abandon its legitimate enrichment activities is to deny a sovereign nation its rightful place in the global scientific and technological community. Iran has invested decades and considerable national resources, including enduring unjust sanctions and the sacrifices of its brightest scientists, to achieve self-sufficiency in its nuclear fuel cycle.

The drive for indigenous capability is not born of a desire for weapons, but from a painful history where external promises of nuclear fuel supply for even medical reactors proved unreliable.

Therefore, the ability to enrich uranium domestically is viewed as a critical guarantee against future dependence and a testament to national resilience.

Iran's peaceful nuclear program is a symbol of its independent spirit and its dedication to scientific progress. It serves as a vital component of its national security doctrine, providing a deterrent against potential aggression without seeking to develop nuclear weapons, which are explicitly forbidden by religious decree from Iran’s Leader.

 

Iran-US nuclear talks limited progress achieved

Iran and the United States made “some but not conclusive progress” in the fifth round of nuclear negotiations held in Rome on Friday, as the two sides continue to struggle over core issues such as uranium enrichment and regional security threats, reports Saudi Gazette.

Omani mediator Badr al-Busaidi, who facilitated the closed-door meeting at the Omani Embassy in Rome, said both sides remain engaged but far from reaching a deal.

“We hope to clarify the remaining issues in the coming days, to allow us to proceed towards the common goal of reaching a sustainable and honourable agreement,” he wrote on X.

The talks follow months of heightened pressure on Iran over its rapidly advancing nuclear program, which Western intelligence agencies now estimate could produce enough weapons-grade uranium for a nuclear device in under a week — though building a functioning bomb would likely take several months.

Iranian Foreign Minister Abbas Araghchi told state television that while the session was productive, the negotiations are too complex for quick resolution.

“I am hopeful that in the next one or two rounds — especially given the better understanding of the Islamic Republic’s positions — we can reach solutions that allow the talks to progress,” he said.

US Mideast envoy Steve Witkoff and State Department policy planning director Michael Anton represented Washington at the Rome meeting.

At the heart of the impasse is Iran’s insistence on continuing domestic uranium enrichment, a stance the US opposes.

Initially open to limited enrichment up to 3.67%, the US has hardened its position in recent rounds, pushing for a complete halt.

One compromise under discussion involves creating a regional uranium supply consortium — backed by the US and neighboring states — to provide Iran with low-enriched uranium for peaceful purposes, while limiting domestic enrichment.

Iran remains firm in its demand to maintain control over its fuel cycle within its borders.

Meanwhile, Israeli threats to unilaterally strike Iran’s nuclear facilities have escalated tensions.

On Thursday, Araghchi warned that Iran would take “special measures” to defend its installations, and accused Washington of complicity if such an attack occurs.

That same day, Iranian students formed a human chain around the Fordo enrichment site, a fortified facility buried deep within a mountain.

Despite tough rhetoric, Iran faces mounting internal and external pressure. Economic unrest continues to simmer, fueled by inflation, a volatile currency, and speculation over increases in subsidized fuel prices.

Iran’s rial fell to more than 1 million per US dollar in April, though it has rebounded slightly amid renewed diplomatic engagement.

Iran's regional clout has also weakened. Its "Axis of Resistance" network has suffered heavy blows during Israel’s war with Hamas, and the collapse of Bashar Assad’s government following a December rebel offensive further isolated Tehran diplomatically.

While President Donald Trump has threatened airstrikes if no deal is reached, his administration has continued to impose new sanctions, including a ban this week on the sale of sodium perchlorate to Iran.

The chemical, imported via China through Shahid Rajaei port, was linked to a massive explosion in April that killed dozens and injured more than 1,000 people — an incident still under investigation. 

Israel: Ben Gurion Airport Attacked

Yemeni forces persist in striking the Israeli regime with hypersonic missiles in response to its genocidal war on Gaza. In a recent operation, the Yemeni Armed Forces launched a new strike on Ben Gurion Airport in Tel Aviv, prompting millions of Israelis to seek shelter and leading to a suspension of airport operations.

Brigadier General Yahya Saree announced that the Yemeni forces executed a “qualitative military operation” targeting Ben Gurion in Tel Aviv using a hypersonic ballistic missile. The attack successfully halted air traffic at the airport.

Saree confirmed that the operation achieved its intended goals, causing the suspension of air travel and sending millions of settlers into hiding. 

He warned, “Remaining silent about the daily massacres in Gaza will bring shame and disgrace upon this nation, leaving it more vulnerable to its enemies than ever, unless it acts to fulfill its religious, moral, and humanitarian obligations toward the oppressed Palestinian people.”

General Saree further stated that the Yemeni Armed Forces will continue and intensify their operations until the Israeli genocide in Gaza ends and the blockade is lifted.

Following the missile launch from Yemen, air raid sirens were activated in Tel Aviv and throughout large areas across Israel. The Israeli occupation army confirmed, “Air defenses are dealing with a ballistic missile launched from Yemen.”

Israeli media also reported the suspension of flights to and from Ben Gurion Airport as a result of the attack, highlighting the disruption caused to Israeli air traffic.

The Yemeni Armed Forces have issued warnings of an aerial blockade on the Israeli regime, marked by repeated strikes on Ben Gurion Airport.

“In light of the developments in Gaza and the enemy’s escalating crimes against our steadfast and oppressed people, the Yemeni Armed Forces are working to double their capabilities to expand support operations and intensify military action,” Saree stated. 

“This includes maintaining the ban on air traffic at Lod Airport (Ben Gurion), a maritime blockade at Haifa Port, and a restriction on Israeli navigation in the Red and Arabian Seas.”

A previous strike near the airport in early May, reportedly hitting a car park, also led to the suspension of air traffic and cancellation of several international flights.

Following these developments, international airlines began canceling flights to and from Ben Gurion Airport, causing a notable decline in passenger traffic.

Israeli Channel 12 reported that this was due to the Yemeni Armed Forces’ declaration of a comprehensive no-fly zone over Israeli airspace.

On May 06, the United States reached a ceasefire agreement with the Yemeni government. The near-daily strikes had failed to deter Yemeni retaliation.

Trump stated the ceasefire was “effective immediately” after the US acknowledged that its warships in the Red Sea had been subjected to repeated attacks.

Analysts believe that the US military campaign in Yemen, widely viewed as a measure to protect the Israeli regime, became too costly to sustain.

In less than six weeks, Yemeni forces shot down seven American MQ-9 Reaper drones over their airspace, causing losses totaling approximately US$200 million.

Additionally, the US Navy aircraft carrier USS Harry S. Truman has returned home after losing three fighter jets in the Red Sea.
 

 

PSX benchmark index declines by 0.5%WoW

Pakistan Stock Exchange (PSX) remained range bound during the week, as uncertainty over the upcoming budget moderated investor confidence built on Pak-India ceasefire and the IMF agreement. The benchmark index declined by 546 points or 0.5%WoW to close at 119,103 points on Friday.

Market participation also weakened, with average daily traded volumes falling by 25%WoW to 492 million shares, down from 660 million shares a week ago.

As regards FY26 Federal budget, revenue target is expected to rise to PKR14.3 trillion from FY25 target of PKR12.3tn. A key highlight includes tariff rationalization; capping the highest tariff at 15%, removing Additional Customs Duty (ACD), and reducing Regulatory Duty by 80% till FY30.

The National Accounts Committee approved the provisional GDP growth at 2.68%YoY for FY25. Consequently, Pakistan's economy has expanded to US$411 billion, making it the 40th largest in the world and pushing per capita income to a record US$1,824.

In its post–first review report, IMF acknowledged that Pakistan has met all quantitative performance criteria, most indicative targets, and several structural benchmarks.

IMF also revised down GDP growth and current account deficit forecasts and updated the timelines of structural benchmarks along with introducing new ones for the coming year. Furthermore, IMF endorsed the GoP plan to eliminate the power sector's circular debt by FY31.

On the currency front, PKR depreciated by 0.11%WoW to close at PKR281.97/US$. Foreign exchange reserves held by State Bank of Pakistan (SBP) increased by US$1.0 billion to a 17-week high of US$11.4 billion.

Other major news flow during the week included: 1) IMF projects external debt to rise to US$126.7 billion by next financial year, 2) Profit repatriation jumps 115%YoY in last month, 3) During Q3FY25 Pakistan economy posts 2.4%YoY growth, and 4) Power generation surges 22%YoY in April 2025.

Woolen, Transport, and Inv Banks/ Cos & Securities Cos were amongst the top performers, while Sugar & Allied Industries, Cement, and Cable & Electrical Goods reported remained laggards.

Major selling was recorded by Mutual Funds, other organizations, and Companies with a net sell of US$10.1 million, US$4.1 million, and US$2.9 million respectively. Individuals and Insurance absorbed most of the selling with a net buy of US$13.1 million and US$7.5 million, respectively.

Top performing scrips of the week were: POML, RMPL, GADT, BNWM, and PKGP, while laggards included:  HUMNL, NATF, LUCK, AVN, and MARI.

According to AKD Securities, the market is expected to remain positive in the coming weeks, with developments around the upcoming federal budget likely to guide short-term sentiment. The KSE100 is anticipated to sustain its 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.

The top picks of the brokerage house include: OGDC, PPL, PSO, FFC, ENGROH, MEBL, MCB, HBL, LUCK, FCCL, INDU, and SYS.

 

Netanyahu accuses France, Britain and Canada of 'emboldening' Hamas

Israeli Prime Minister Benjamin Netanyahu accused the leaders of France, Britain and Canada of wanting to help the Palestinian militant group Hamas after they threatened to take "concrete action" if Israel did not stop its latest offensive in Gaza.

The criticism, echoing similar remarks from Foreign Minister Gideon Saar on Thursday, was part of a fightback by the Israeli government against the increasingly heavy international pressure on it over the war in Gaza.

"You're on the wrong side of humanity and you're on the wrong side of history," Netanyahu said.

The Israeli leader, facing an arrest warrant from the International Criminal Court over alleged war crimes in Gaza, has regularly criticized European countries as well as global institutions from the United Nations to the International Court of Justice over what he says is their bias against Israel.

But as the flow of images of destruction and hunger in Gaza has continued, fuelling protests in countries around the world, Israel has struggled to turn international opinion, which has increasingly shifted against it

"It's hard to convince at least some people, definitely on the far left in the US and in some countries in Europe, that what Israel is doing is a war of defence," said former Israeli diplomat Yaki Dayan.

"But this is how it is perceived in Israel and bridging this gap is sometimes an impossible mission," he said.

Israeli officials have been particularly concerned about growing calls for other countries in Europe to follow the example of Spain and Ireland in recognizing a Palestinian state as part of a two-state solution to resolve decades of conflict in the region.

Netanyahu argues that a Palestinian state would threaten Israel and he has framed the killing of two Israeli embassy staffers in Washington on Tuesday by a man who allegedly shouted "Free Palestine" as a clear example of that threat.

He said "exactly the same chant" was heard during the attack on Israel by Hamas on October 07, 2023.

"They don't want a Palestinian state. They want to destroy the Jewish state," he said in a statement on the social media platform X.

"I could never understand how this simple truth evades the leaders of France, Britain, Canada and others," he said, adding that any moves by Western countries to recognize a Palestinian state would "reward these murderers with the ultimate prize".

Instead of advancing peace, the three leaders were "emboldening Hamas to continue fighting forever", he said.

 

Israel might stage a new “Susannah” to implicate Iran

Iran’s Ambassador to Britain, Ali Mousavi, has sounded the alarm over potential "false flag operations" aimed at sabotaging Tehran-London relations. The rift widened after the Britain charged three Iranians under its National Security Act, alleging ties to a "foreign intelligence service".

Ambassador Mousavi’s alert reflects Tehran’s fear that Israel might stage a new "Susannah" to implicate Iran, leveraging the IRGC’s prominence and stalled nuclear talks. The Zionist regime’s history of sabotage makes such scenarios plausible.

Some experts contend that the British actions are rooted in mounting frustration over its declining influence in international diplomacy, prompting British officials to leverage pressure tactics to steer negotiations.

Additionally, other analysts argue that these measures dovetail with pro-Israel initiatives aimed at designating Iran’s Islamic Revolution Guard Corps (IRGC) as a terrorist organization—a classification Tehran vehemently condemns, viewing it as an unjustified escalation that severely damages diplomatic relations and heightens tensions between Iran and the West.

Iranian officials cite the Israeli regime’s track record of false flag operations to bolster their warnings. Foreign Ministry Spokesman Esmaeil Baqaei declared: "The Zionist regime has long flouted international law, from Gaza to the Lavon Affair, using sabotage to deceive."

The Lavon Affair

In July 1954, the Israeli regime launched Operation Susannah, later dubbed the Lavon Affair, a botched covert mission in Egypt.

Israeli military intelligence recruited a cell of Egyptian Jews to bomb civilian targets—cinemas, libraries, and U.S.-owned cultural centers in Cairo and Alexandria.

The plot aimed to pin the attacks on the Muslim Brotherhood or Egyptian communists, sowing chaos to convince Britain to keep troops in the Suez Canal zone, a linchpin for Tel Aviv’s regional strategy.

The operatives used crude incendiary devices hidden in books and bags, targeting places like the Cairo train station’s post office and the Rio Cinema.

Egyptian security foiled the scheme, capturing the agents after a bomb prematurely detonated. Public trials followed, with two executed and others imprisoned.

The fallout humiliated the Israeli regime: War Minister Pinhas Lavon resigned amid internal strife, and relations with the U.S. and UK soured.

Israel denied responsibility until 2005, when it honored surviving operatives, quietly admitting its role. 

USS Liberty Incident

On June 08, 1967, amid the Six-Day War, Israeli jets and torpedo boats assaulted the USS Liberty, a US Navy intelligence ship in international waters off Sinai. The two-hour barrage—machine-gun fire, napalm, and torpedoes—killed 34 American sailors and wounded 171, nearly sinking the vessel.

The regime insisted it mistook the Liberty, flying a US flag, for an Egyptian horse carrier, offering apologies and compensation.

Yet survivors and US officials, including Secretary of State Dean Rusk, disputed this, citing evidence of deliberate intent.

Declassified reports reveal Israeli reconnaissance planes circled the ship hours earlier, and radio intercepts suggest orders to ensure no survivors. Critics argue Tel Aviv aimed to silence US monitoring of its Golan Heights offensive.

Israeli Embassy Bombing in London

On July 26, 1994, a car bomb rocked Israel’s embassy in London, injuring 20. Hours later, a second blast hit Balfour House, a Jewish charity, wounding six. British authorities blamed Palestinian militants, convicting Samar Alami and Jawad Botmeh despite their claims of innocence.

Former MI5 officer Annie Machon later alleged Mossad staged the attacks to smear Palestinian activists in Britain, then an alleged hub for West Asian exiles.

Machon claimed the bombs’ sophistication pointed to state actors, not amateurs, and noted MI5’s ignored warnings of Israeli involvement, suggesting a false flag to sway British policy.