Monday, 14 July 2025

Trump issues ultimatum to Putin

According to The Hill, US President Donald Trump is seeking to pressure Russia's leader to the negotiating table through a combination of arming Ukraine and threatening 100 percent tariffs on countries that trade with Russia. 

Trump made the announcement during a meeting with NATO Secretary General Mark Rutte in the Oval Office Monday morning. 

It marks a potential turning point for a president who had wanted to pull US support from Ukraine and has repeatedly demonstrated favorable treatment to Putin despite Moscow’s invasion of its neighbor.

“We’re very, very unhappy with Russia, and we’re going to be doing very severe tariffs if we don’t have a deal in about 50 days,” Trump said, after teasing a major announcement. 

Trump and Rutte also officially announced a weapons deal in which NATO countries would foot the bill for US arms shipments to Ukraine, though details on the provisions remain vague. 

“It’s everything. It’s Patriots. It’s all of them. It’s a full complement with the batteries,” Trump said, adding that the batteries could arrive in Ukraine within days.

Ukraine is desperate for increased air defenses as Putin has ramped up aerial attacks on its cities in recent months.

Ukrainian leader Volodymyr Zelensky met with Trump's envoy retired Lt.  Gen. Keith Kellogg earlier in the day and said he spoke with Trump and Rutte later on.

"Agreed to call more often and coordinate our steps further. Thank you, Mr. President! Thank you America!" Zelensky wrote on Facebook. 

There's no sign that Trump is seeking to send offensive weapons that would allow Ukraine to strike further into Russia, which Ukraine hawks say may be necessary to move Putin off his maximalist war demands.

Former NATO chief and retired Navy Adm. James Stavridis told CNN on Monday he would like to see Ukraine given harpoon missiles, surface-to-surface weapons and F-16 aircraft. 

"I think that is what could move Putin to the negotiating table, which is what we want on our side,” he said. 

Saudi energy minister urges action to address energy poverty

Saudi Arabia’s Minister of Energy, Prince Abdulaziz bin Salman, emphasized the urgent need to tackle global energy poverty during his address at the OPEC International Seminar in Vienna on Monday, reports Saudi Gazette.

Highlighting one of the most pressing global energy challenges, the minister cited United Nations estimates that 1.2 billion people suffer from energy poverty — a figure he believes could be nearly three times higher in reality.

He noted that over two billion people still rely on traditional, unsafe cooking fuels, which contribute to pollution and health hazards.

Prince Abdulaziz revealed that a dedicated Saudi team is actively working across Africa and Southeast Asia to address energy poverty, engaging directly with governments to implement practical solutions.

The minister underscored the Kingdom’s consistent energy policies and its commitment to translating them into real-world outcomes.

He cautioned that the global energy transition should not come at the expense of economic development, urging that each country’s economic context be considered in crafting energy strategies.

He further stressed the need for a balanced global energy mix, where oil and gas remain essential components alongside the expansion of renewable energy sources.

With global population projections reaching nearly 10 billion by 2050 and energy demand expected to rise by 50%, he said a diverse approach is crucial to ensuring sustainable energy access.

 

Saturday, 12 July 2025

Iranian rationale of attacking US base in Qatar

On June 23, 2025, as tensions between Iran and Israel reached their highest point in years, several Iranian ballistic missiles struck the Al Udeid Air Base in Qatar. This was no ordinary target, it is the main hub for US military operations in West Asia and a key symbol of American power projection in the region. 

Iran informed the US about the attack 12 hours before it was to happen, according to information previously disclosed by the Tehran Times. The official American response was swift and predictable - both Washington and Doha downplayed the incident, claiming there were no casualties or significant damage. However, reality soon overrode the narrative. Satellite images published days later confirmed the destruction of a geodesic dome that housed critical communication systems of the US Central Command.

Far from being anecdotal, this episode marks a strategic turning point. Iran has shown it can strike critical infrastructure under American protection, redrawing the contours of deterrence in the Persian Gulf. The missile ceases to be merely a weapon of war; it becomes a tool of sovereignty and strategic assertion.

Between official denial and satellite evidence

The US version was clear and firm from the outset “No casualties, no damage,” repeated Pentagon spokespeople. But satellite evidence, analyzed by international media and independent agencies, told a different story.

Images taken between June 23 and 25 showed the disappearance of a US$15 million communications dome, debris, and collateral damage to surrounding structures. Although the base remained operational, the loss of a key component for electronic warfare cast doubt on the effectiveness of US missile defenses—and on the credibility of the official account.

Washington’s refusal to acknowledge the strike follows a dual logic - maintaining control over the media narrative and avoiding the perception of vulnerability before an actor—Iran—that, despite sanctions and isolation, has reached a notable level of technological sophistication.

Al Udeid: A symbol of hegemony in question

Located about 30 kilometers from Doha, Al Udeid is more than just a military base. It serves as the forward headquarters of CENTCOM and is the nerve center for coordinating operations in Iraq, Syria, and Afghanistan. Its symbolism goes beyond the military - it is the cornerstone of the security architecture the United States has built in the region since the First Persian Gulf War.

The fact that Iran managed to strike such a site—and that US forces reportedly evacuated aircraft and sensitive personnel beforehand—does not diminish the significance of the attack. On the contrary, it indicates that Tehran sent a precise warning and that Washington took it seriously. Deterrence, long monopolized by the US and Israel, is no longer a one-way street.

The missile as national strategy: Evolution and autonomy

The strike on Al Udeid was not an isolated act but the result of a deliberate evolution. For over two decades, Iran has systematically invested in ballistic missile development as an asymmetric response to the air and nuclear superiority of its adversaries. Faced with Western restrictions, Tehran adopted a doctrine of defensive self-sufficiency based on three pillars:

Diversification: Short, medium, and long range missiles like Shahab-3, Ghadr, Qiam, and Sejjil, capable of reaching Israel, US bases, and parts of southern Europe.

Mobility: Mobile launch systems that are hard to detect and neutralize.

Precision: Advanced guidance systems that have reduced the margin of error to levels that even Western analysts now acknowledge.

Unlike other regional missile programs, Iran’s development is overwhelmingly domestic. This technical and logistical autonomy has allowed the country to bypass embargoes and threats, turning the missile into the backbone of its defense doctrine.

Following Israel’s offensive against nuclear, military, and civilian sites inside Iran, Tehran responded with a large-scale launch of over a hundred ballistic missiles and suicide drones targeting Israeli military positions. For the first time, Iran’s ballistic arsenal was used en masse in open conflict.

Despite the Iron Dome and other Israeli defenses, several missiles penetrated and struck Tel Aviv, Haifa, and military bases. The missile attacks not only caused physical damage but also had a strategic impact: saturating defenses, prompting emergency deployments, and creating unprecedented internal pressure on Israeli authorities.

The Al Udeid strike was the culmination of a graduated strategy - to hit Israel, neutralize its offensive capacity, and send a direct message to the United States. The ceasefire that followed days later cannot be understood without factoring in the missile component as a deterrent force.

Sovereignty and independence: The Iranian perspective

Since the 1979 Islamic Revolution, Iran’s foreign and defense policy has been rooted in the principle of non-negotiable sovereignty. In a hostile environment—surrounded by foreign bases and under sanctions—the development of ballistic missiles has not been framed as a belligerent impulse, but as a survival strategy.

Tehran maintains that its only guarantee in the face of threats like the US “maximum pressure” campaign or Israeli targeted strikes is its ability to respond. Effective deterrence, it argues, is only possible when there is certainty that any aggression will come at a high cost.

The attack on Al Udeid follows this logic - it was calibrated, precise, and deliberately non-lethal. Its aim was not to trigger a regional war but to underscore that Iran has both the capacity—and the resolve—to defend its vital interests. The missile, in this vision, is not a threat; it is a political argument.

 

Israel boasts destruction of Beit Hanoun

According to media reports, Israeli Defense Minister Israel Katz on Friday shared an aerial image of Beit Hanoun, a city in northern Gaza, boasting of its total destruction and declaring, "After Rafah and Beit Hanoun ... there is no refuge for terrorism."

The image, posted to Katz's official X account, depicts a flattened urban landscape — reduced to rubble and ruins — revealing the extent of devastation inflicted on the town.

Beit Hanoun, located along Gaza’s northern border with Israel, was among the first areas invaded by the Israeli army during its ground operation that began on October 28, 2023.

More than 21 months into the war on Gaza, Palestinian armed factions have continued to launch organized ambushes in the area, challenging Israel’s military objectives.

Last week, five Israeli soldiers from the “Netzah Yehuda” Battalion were killed and 14 others injured — two critically — in an attack in Beit Hanoun, according to official Israeli military reports.

A military investigation confirmed that Hamas fighters detonated three explosive devices targeting an Israeli foot patrol, followed by direct gunfire.

The Israeli military has increasingly relied on heavy artillery and aerial bombardment to enforce control over Beit Hanoun, which it recently claimed to have surrounded.

On June 2, 2024, Gaza’s Municipal Emergency Committee declared Beit Hanoun a “disaster area” due to near-total destruction of infrastructure, essential services, and the collapse of humanitarian conditions. Before the war, the town had a population of around 60,000 spread over 17,000 dunams.

Despite mounting global pressure, Israel continues to reject calls for a ceasefire. Since the launch of its full-scale offensive in late October 2023, Israeli bombardments have killed nearly 57,800 Palestinians, most of them women and children.

The destruction has triggered catastrophic humanitarian conditions across Gaza, with widespread food shortages, the collapse of medical facilities, and the rapid spread of disease.

The war has drawn international legal scrutiny. In November, the International Criminal Court issued arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant over war crimes and crimes against humanity. Israel also faces a genocide case at the International Court of Justice.

IRGC foils terror plot in Southeastern Iran

Reportedly, Iran’s Islamic Revolution Guards Corps (IRGC) has announced the successful neutralization of a terrorist cell in the southeastern province of Sistan and Baluchistan, dealing a significant blow to hostile groups operating near the border with Pakistan.

In a statement issued, the IRGC Ground Force’s Quds Base confirmed that six members of a terrorist group were killed in a swift counterterrorism raid in the coastal city of Chabahar. The operation coincided with the ongoing Martyrs of Security military exercises being conducted across the region.

According to the statement, the militants’ hideouts were discovered with the help of vigilant local residents. A cache of light and heavy weaponry, along with a large quantity of explosives, was seized during the operation.

The IRGC noted that the neutralized terrorists had been planning a series of coordinated attacks targeting crowded public areas. Their elimination is believed to have averted a potential wave of deadly violence.

Sistan and Baluchistan—long a target of terrorist activity—has seen frequent attacks against both civilians and Iranian security forces in recent years. Armed groups operating in the region, particularly along the Pakistan border, are often linked to foreign intelligence networks, according to Iranian officials.

One of the deadliest incidents in recent months occurred on October 26 of last year, when 10 Iranian police officers were killed in a terrorist attack in Taftan County’s Gohar Kuh district.

The Jaish al-Zulm terrorist group, known for its armed operations and abductions in the region, claimed responsibility for the assault. The outfit has been behind numerous attacks in Sistan and Baluchistan, targeting border outposts, police stations, and civilians in an effort to destabilize the area and sow unrest.

The IRGC reiterated its commitment to safeguarding the nation’s borders and maintaining security throughout the region, vowing continued vigilance in the face of foreign-backed threats.

 

US to send Ukraine weapons through NATO

US President Trump has announced that a deal was struck with NATO to send weapons to Ukraine, with the military alliance bearing the brunt of the cost, reports The Hill. 

“We’re sending weapons to NATO, and NATO is paying for those weapons, 100 percent,” he said in a phone interview with NBC News. “So, what we’re doing is, the weapons that are going out are going to NATO, and then NATO is going to be giving those weapons to Ukraine, and NATO is paying for those weapons.”

The president added that the deal was struck in June at the NATO summit in The Hague.

Secretary of State Marco Rubio said the US is talking to multiple countries in Europe, including Spain and Germany that have Patriot batteries — a key element in the defense system used to intercept and destroy ballistic missiles — about sending them over to Kyiv. 

“Well, the Spaniards have them. They’re really far from Ukraine and they have one. The Germans have, others have them — I’m not singling them out, but I’m just telling you those are two that I know,” Rubio told reporters while in Malaysia after his meeting with Russian Foreign Minister Sergey Lavrov. “There are other Patriot batteries, and there are other opportunities.”

The conversation comes as the president intensified his criticism of Russian President Vladimir Putin in recent days, saying the two leaders have made “no progress” on brokering a potential ceasefire between Russia and Ukraine. Trump also said he does not think Putin is looking to halt the war in Eastern Europe, which has been ongoing since its invasion of Ukraine in 2022.

The Trump administration restarted sending some defense weapons to Ukraine on Monday, days after the Defense Department ordered a pause on delivering some air defense missiles and munitions, citing concerns of US stockpiles being depleted.

NATO Secretary-General Mark Rutte said he spoke with Trump on Thursday and has pushed allies within the alliance to send weapons to Ukraine. 

 

 

Friday, 11 July 2025

PSX benchmark index up 1.8%WoW

Pakistan Stock Exchange (PSX) continued upward momentum during the week, driven by expectations of strong earnings. The benchmark Index was up 2,351 points or 1.8%WoW, closing the week at 134,300 points on Friday July 11, 2025.

Positive sentiments were reinforced by workers’ remittances rising to US$3.4 billion in June 2025, up 8%YoY, taking FY25 inflows to US$38.3 billion, up 27%YoY.

Foreign exchange reserves held by State Bank of Pakistan (SBP) were reported at US$14.5 billion as of July 04, 2025. Despite that PKR witnesses slight depreciation.

However, market participation declined, with average daily traded volumes falling by 2.0%WoW to 948 million shares, down from 967 million shares in the earlier week.

The GoP raised PKR1.4 trillion from T-Bills auction.

Auto sales for June 2025 were recorded at 25,305 units, up 43%YoY, driven by higher Passenger Cars and LCVs sales, mainly due to pre buying ahead of the proposed GST hike on vehicles up to 850cc from 12.5% to 18%.

The government utilized a total of PKR1,045 billion, out of the budgeted allocation of PKR1,100 billion, for development projects during FY25.

Other major news flow during the week included: 1) Pakistan retires PKR500 billion SBP debt early, 2) GoP raises PKR208 billion from PIBs auction, 3) Textile exports rose by 7.22%YoY in FY25, 4) Pakistan and Russia discuss steel mill revival, and 5) Nepra announced negative FCA of PKR4.03/kwh for KE consumers.

Woollen, Jute, Textile spinning, Textile composite, and Modaraba, were amongst the top performing sectors, while ETFs, Technology & Communication, Close-end Mutual Funds, Oil & Gas Exploration, and Refinery were amongst the laggards.

Major buying of US$19.2 million and US$14.1 million was recorded by Mutual Funds and Individuals, respectively. Companies and Banks were the sellers during the week, with a net sell of US$8.9 million and US$8.7 million, respectively.

Top performing scrips of the week were: 1) BNWM, MEHT, GADT, KTML, and KOHC, while laggards included: PSEL, AIRLINK, PKGP, BAHL, and EFERT.

According to AKD Securities, PSX is likely to maintain a positive trend in the coming weeks, driven by the expectations of strong corporate earnings.

The index 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 of the brokerage house include: OGDC, PPL, PSO, FFC, ENGROH, MCB, HBL, KOHC, FCCL, INDU, and SYS.