Protests and walkouts eclipse Netanyahu's UN appearance

The scene in New York — empty UN rows, diplomatic walkouts and sustained street protests, including large marches from Times Square to the UN and demonstrations outside Netanyahu’s Manhattan hotel — crystallized the political cost of the address.

Israeli Prime Minister Benjamin Netanyahu’s address to the United Nations General Assembly on Friday was an attempt at a carefully staged and combative defense of Israel’s aggressive campaign in Gaza and its wider military actions across the region. Yet the performance could not mask the widening gulf between his narrative and the findings of international institutions, public-health agencies, and human-rights organizations.

Netanyahu employed one prominent map, alongside visual aids and rhetorical flourishes critics deemed theatrical props, and he repeated the phrase “Israel must finish the job.”

The line landed amid visible diplomatic rebuke - dozens of delegations staged walkouts and large sections of the Assembly remained conspicuously empty, while thousands of demonstrators in New York took to the streets demanding a ceasefire and accountability.

Independent UN mechanisms and leading rights groups have drawn a far grimmer picture than the one Netanyahu offered. In a September report, the UN Independent International Commission of Inquiry concluded that the Israeli conduct in Gaza meets the legal threshold of genocide.

Human Rights Watch and Amnesty International have documented patterns of indiscriminate bombardment, forced displacement, and the deliberate deprivation of essential services that they say amount to war crimes and crimes against humanity.

Public-health agencies and UN partners, drawing on figures from Gaza’s Ministry of Health, estimate that more than 65,500 people have been killed since October 2023.

The war has forced the displacement of up to 90 percent of the population, while famine conditions have taken hold in several areas. The World Health Organization has confirmed hundreds of deaths from malnutrition, many of them children.

Beyond Gaza, Israel’s military actions have extended across the region, with deadly strikes in Lebanon, Syria, and Iran, where more than 1,065 people were killed in the 12-Day War. Attacks have also targeted sites in Qatar and other parts of West Asia, widening the conflict’s footprint and drawing condemnation for what critics describe as a campaign of destabilization.

Netanyahu sought to rebut such charges by pointing to evacuation orders and intelligence claims, and by portraying Iran as the backbone of a regional “terror axis.”

Those assertions did not persuade critics who point out that warnings alone cannot absolve a belligerent of responsibility for operations that hit hospitals, shelters, and schools or that substantially hinder lifesaving aid.

The repeated refrain to “finish the job” in an enclave of nearly two million civilians risks being read not as a constrained military objective but as justification for actions with catastrophic humanitarian and legal consequences.

A particularly contentious decision during the UN appearance was the transmission of the speech into Gaza via loudspeakers on the border and, according to multiple reports, through mobile devices.

Framed by Tel Aviv as communication aimed at captives, the broadcasts were described by many humanitarian advocates and Palestinian journalists as coercive psychological pressure imposed on a population already under bombardment and facing starvation.

 

 

PSX benchmark index closes at yet another record high

Pakistan Stock Exchange (PSX) remained positive throughout the week, closing at a record high of 162,257 points on Friday, September 26, 2025, posting a weekly gain of 4,220 points or 2.67%WoW.

Bullish sentiments were supported by Prime Minister Shehbaz Sharif’s successful meetings with US President Trump on Thursday, and the signing of long-awaited PKR1.2 trillion debt arrangement with banks to retire power sector circular debt.

Consequently, E&Ps and Power sector scrips remained highest index contributors, along with Commercial Banks. Moreover, Pakistan is expecting a delegation of Saudi businesses to explore bilateral trade opportunities following the recent strategic defense agreement.

The said positives boosted investors’ confidence, driving weekly market participation to an all-time high, with average daily traded volume increasing by 20%WoW to 2.2 billion shares.

Fertilizer sales surged in August 2025, with urea and DAP offtakes rising 46%YoY and 53%YoY, respectively, supported by discount offerings and lower inventories.

Foreign exchange reserves held by State Bank of Pakistan (SBP) increased by US$22 million to US$14.4 billion as of September 19, 2025. PKR appreciated by 0.03%YoY to close at PKR281.37 to a US dollar.

Other major news flow during the week included: 1) IMF presses Pakistan on missed tax targets, 2) Power tariffs set for 10% cut after PKR1.225 trillion debt repayment, 3) Japan intends to invest in Reko Diq project, 4) Unilateral tariff concessions on 700 items sought from China, and 5) FBR chief says no proposal for mini-budget.

Power generation, E&P, and Pharmaceutical were amongst the top performing sectors, while Woollen, Leasing companies, and textile spinning were the laggards.

Major selling was visible from Bank and Foreigners with net sell of US$29.5 million. Mutual funds and Individuals emerged net buyer with net buy of US$42.3 million.

Top performing scrips of the week were, KEL, BWCL, HUBC, DGKC, and MARI, while laggards included: TGL, EPCL, POML, PKGP, and BNWM.

According to AKD Securities, PSX is expected to remain positive in the coming weeks, with the upcoming IMF review remaining in the limelight.

The benchmark index is anticipated to sustain its upward trajectory, with a target of 165,215 points by end December 2025, 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, MCB, LUCK, DGKC, FCCL, INDU, ILP, and SYS. 

Tony Blair being tipped to run Gaza

According to the reports published in Haaretz and the Times of Israel the White House is backing a proposal to install former British prime minister Tony Blair at the head of a new “Gaza International Transitional Authority” (GITA), which would serve as Gaza’s supreme political and legal authority for as long as five years.

The body, modeled on transitional administrations in Kosovo and Timor-Leste, would initially be based in Egypt and later enter Gaza with a supposedly UN-endorsed, largely Arab peacekeeping force.

According to the details, GITA would oversee a technocratic Palestinian Executive Authority tasked with delivering services, running ministries such as health and education, and supervising vetted civil police.

Hamas is explicitly excluded, while the Palestinian Authority (PA) is promised an eventual role — but with no firm timetable.

By contrast, the UN General Assembly recently backed the “New York Declaration,” a plan for a one-year interim administration that would then hand power to a reformed PA following elections.

Arab states have warned that their support for any peacekeeping force depends on a credible political horizon toward Palestinian statehood. Many fear that the Blair plan offers only a more palatable form of occupation, granting Israel reassurances while denying Palestinians genuine sovereignty.

Blair’s involvement is especially controversial. While he enjoys ties with Arab leaders from the Persian Gulf, Palestinians broadly resent his record as Middle East envoy and his role in the US-led invasion of Iraq. To many, his leadership would symbolize not liberation but a continuation of externally imposed control.

The plan comes against the backdrop of Washington’s earlier floated ideas — including transforming Gaza into a “Riviera” or even facilitating mass removal of Palestinians — rhetoric widely condemned as edging toward ethnic cleansing.

Though the details from the Blair proposal do not explicitly call for displacement, critics warn that without guarantees of rights, participation, and a binding timeline, Gaza risks foreign control and loss of sovereignty.

 

Yemeni drone attack injures more than 20 in Israeli city of Eilat

According to media reports, at least 22 people were injured, including two seriously, after a drone fired from Yemen hit the city of Eilat in southern Israel on the Red Sea coast on Wednesday.

Video and images from emergency responders and the Israeli military show the drone landed near stores and restaurants. The drone was fired during the final hours of the holiday of Rosh Hashanah, which marks the Jewish New Year.

Houthis have repeatedly launched drones and ballistic missiles at Eilat and other areas in southern Israel, but these launches are frequently intercepted. It’s unclear how Wednesday’s drone penetrated Israel’s air defenses.

“Interception attempts were made, and search and rescue teams are operating in the area where the report was received regarding the impact,” the Israel Defense Forces (IDF) said in a statement.

Many of those who were injured in the attack suffered shrapnel from the explosion, according to Magen David Adom (MDA), Israel’s emergency response service.

A 60-year-old man who was seriously injured was struck by shrapnel in his limbs, while a seriously injured 26-year-old man suffered shrapnel wounds to his chest, MDA said. One other person suffered moderate injuries, MDA said.

The IDF said in a separate statement that its troops “are assisting in evacuating civilians from the area and providing initial medical care.”

“An IDF helicopter was dispatched and is currently assisting in evacuating injured individuals from the scene,” it added.

The Houthi militant group in Yemen later claimed responsibility for the attack, calling it a “qualitative military operation.”

Israeli Defense Minister Israel Katz vowed to revenge against Houthis following the attack on the city.

“The Houthi terrorists refuse to learn from Iran, Lebanon, and Gaza – and they will learn the hard way,” Katz said in a statement.

“Whoever harms Israel will be harmed sevenfold,” Katz added.

Earlier in September, a drone launched from Yemen by Houthi rebels hit the arrivals hall at Ramon Airport in southern Israel on Sunday, the Israeli military and the Israel Airports Authority said.

No sirens were sounded, the IDF said, since the drone was identified but not classified as hostile. An “extensive investigation” was expected.

Since Israel’s war with Hamas in Gaza began in October 2023, the country has come under fire from missiles and drones from the Houthis in Yemen, who claim to strike Israel in solidarity with the Palestinians.

Israel has carried out waves of strikes targeting Houthi military facilities and civilian infrastructure the IDF says is used by the Houthis. But the long-range exchange of fire has escalated recently.

In late August, Yemen’s Houthi rebels vowed to take revenge for the killing of their prime minister and other political leaders by Israeli airstrikes earlier that month.

 

US pushing gold prices to unrealistic levels

The perception that the United States is pushing gold prices to unrealistic levels is getting credence among some analysts, but the reality is more complex. Gold prices are influenced by multiple forces, many of which are tied to US policies and actions. Let us do some due diligence:

1. US Dollar and Monetary Policy

Gold is priced is quoted in US dollars around the world. When the Federal Reserve cuts interest rates, maintains low real yields, or expands liquidity through quantitative easing, investors seek gold as a hedge against dollar weakness. Conversely, when the Fed signals persistent inflation risks but avoids aggressive tightening, gold becomes attractive as a safe asset.

2. Inflation and Debt Pressures

The US is running record deficits and debt levels (over US$35 trillion). To finance this, the Fed and Treasury rely on loose monetary policies, which fuel fears of currency debasement. Gold thrives in such environments.

3. Geopolitical Strategy

Some analysts argue the US indirectly supports higher gold prices by fostering global instability - Middle East wars, tensions with China and Russia. In uncertain times, central banks and investors shift to gold. Ironically, Washington doesn’t mind if gold rises, because it pushes countries like China, Russia, and emerging economies to park reserves in gold instead of US Treasuries, reducing immediate pressure on US bond markets.

4. Central Bank Buying Trend

In recent years, especially after US sanctions on Russia’s reserves, central banks worldwide including China, Turkey, India, and even Poland have accelerated gold purchases to reduce dependence on the US dollar. The US fuels this trend by using the dollar as a geopolitical weapon, it motivates others to seek neutral reserve assets like gold, which drives its prices higher.

5. Speculation and Market Psychology

Large US-based funds and banks also influence gold prices via futures and ETFs. Speculative flows exaggerate moves, at times pushing prices well above fundamentals.

While it is being propagated that the US is not literally setting gold prices, in reality its monetary policy, sanctions strategy, and geopolitical behavior create conditions that push demand for gold. To some, this makes prices look unrealistic, but in fact they reflect rising mistrust in the US dollar system.

Following is the graph showing the hike in gold prices over the last two years (2023–2025). You can see a steady rise in 2023–2024, followed by a sharp surge in 2025 — nearly doubling from under US$2,000/ oz to over US$3,700/ oz.

Saudi Support to Pakistan Beyond Diplomacy

Saudi Arabia and Pakistan share a relationship that is often described as “brotherly” rather than merely diplomatic. Rooted in faith, history, and mutual respect, the Kingdom’s support to Pakistan over the decades has been nothing short of exceptional. At every critical juncture—from wars and economic crises to natural disasters—Riyadh has stepped forward with generosity, affirming its role as Islamabad’s most trusted partner.

Historical Foundations of Brotherhood

Saudi Arabia was among the very first nations to recognize Pakistan after its independence in 1947. Since then, ties have been nurtured on shared Islamic values and common aspirations. The relationship quickly matured into a strategic alliance, with both nations backing each other in times of need. During Pakistan’s wars in 1965 and 1971, Riyadh extended strong political and moral support. Similarly, Pakistan stood firmly with the Kingdom during regional crises, cementing trust that has endured for generations.

Financial Lifelines in Times of Need

Perhaps the most visible manifestation of Saudi support has been on the economic front. Pakistan, a developing country often facing fiscal and balance-of-payment challenges, has repeatedly found in Riyadh a source of immediate relief.

In recent years alone, the Kingdom deposited billions of dollars in Pakistan’s State Bank reserves, providing crucial breathing space at a time when international institutions were either hesitant or demanded painful reforms. Oil supplies on deferred payment have cushioned Pakistan’s import bill, helping stabilize inflation and energy costs. Unlike Western lenders, Saudi assistance has rarely been tied to political or structural conditions, making it uniquely generous and timely.

This pattern is not new. Since the 1970s, Riyadh has offered concessional oil facilities, long-term loans, and grants to help Pakistan weather external shocks. Time and again, Saudi Arabia has proven to be Pakistan’s financial first responder.

Energy Security and Investment Potential

Saudi Arabia has also played a key role in Pakistan’s energy security. Its oil facilities have ensured that Pakistan’s economy continues to function even during periods of global energy volatility. Looking ahead, Riyadh has expressed strong interest in investing in Pakistan’s energy infrastructure, particularly in the proposed multibillion-dollar Gwadar Oil Refinery. Such projects not only promise to reduce Pakistan’s dependence on imported petroleum products but also strengthen its role as a regional energy hub.

Humanitarian Generosity and People to People Impact

The Kingdom’s generosity extends far beyond state to state transactions. During Pakistan’s worst humanitarian crises, including the devastating 2005 earthquake and the catastrophic floods of 2010 and 2022, Saudi Arabia was among the largest donors of aid. Relief goods, medical teams, and financial contributions directly helped millions of displaced and vulnerable citizens.

Saudi-funded development projects—ranging from schools and hospitals to water supply schemes—have left a lasting impact on communities across Pakistan. These initiatives reflect Riyadh’s recognition that real support lies not just in financial transfers but in uplifting the quality of life of ordinary people.

Strategic and Defense Cooperation

Defense and security cooperation remain another cornerstone of the relationship. Pakistani military personnel have long been involved in training Saudi armed forces, a partnership that has enhanced Riyadh’s defense capacity while deepening trust between the two establishments.

At the diplomatic level, Saudi Arabia has consistently stood by Pakistan on sensitive issues, particularly Kashmir. By lending its political weight to Islamabad’s positions at the Organization of Islamic Cooperation (OIC) and other global platforms, Riyadh has amplified Pakistan’s voice in the international arena.

Mutuality of Interests

Although Saudi Arabia’s exceptional support to Pakistan often takes the spotlight, the relationship is not one-sided. Pakistan has consistently extended manpower, expertise, and solidarity to the Kingdom. Millions of Pakistani workers in Saudi Arabia are a vital part of the Kingdom’s development, especially under Crown Prince Mohammed bin Salman’s Vision 2030. Their contributions not only drive Saudi progress but also sustain Pakistan’s economy through remittances that exceed billions of dollars annually.

In times of regional tension, Pakistan has also stood firmly with Riyadh, whether by providing military expertise or diplomatic support. This reciprocity underscores the fact that the partnership is built on mutual respect and shared strategic interests.

Looking Toward the Future

As the global order undergoes transformation, the Saudi-Pakistan relationship is poised to enter a new phase. Vision 2030, which seeks to diversify the Saudi economy beyond oil, opens new avenues for Pakistani professionals, investors, and skilled workers. Pakistan, with its youthful population and strategic location at the crossroads of South Asia, Central Asia, and the Middle East, remains a natural partner for Riyadh’s long-term ambitions.

Furthermore, investment in renewable energy, technology, agriculture, and infrastructure can redefine the contours of this relationship. What has historically been dominated by financial and defense cooperation is now broadening into sectors that will drive growth in the 21st century.

Exceptional Saudi support to Pakistan is not merely about financial bailouts or humanitarian aid. It is the reflection of a bond rooted in shared faith, tested by history, and strengthened by mutual benefit. For Pakistan, Saudi Arabia has been a dependable partner in times of uncertainty. For Riyadh, Islamabad remains a steadfast ally with strategic depth and human capital.

As both nations look ahead, their challenge is to transform this exceptional support into sustainable, future-oriented cooperation. By building on decades of trust, Saudi Arabia and Pakistan can not only uplift their own people but also set an example of solidarity and resilience for the wider Muslim world.

 

Hamas is Freedom Fighter, Not Terrorist

The dominant Western discourse labels Hamas a “terrorist organization.” Yet this framing neglects both the context of Israel’s occupation and the legal principles that underpin the Palestinian right to resist. A critical reassessment reveals Hamas as part of a broader liberation struggle—comparable to anti-colonial movements across Africa, Asia, and Europe—that embodies the right of oppressed peoples to fight for self-determination.

Legal Basis of Resistance

International law recognizes the legitimacy of armed resistance against foreign occupation. United Nations General Assembly Resolution 37/43 (1982) affirms the right of peoples “under colonial and foreign domination and alien occupation to struggle … by all available means, including armed struggle.”

The Palestinian case clearly falls within this framework. Israel’s continued occupation of Gaza, the West Bank, and East Jerusalem violates numerous UN resolutions, including UN Security Council Resolution 242 (1967) and 338 (1973), which demand Israeli withdrawal from occupied territories.

Thus, the actions of Palestinian resistance groups—including Hamas—are not “terrorism” in the legal sense but a manifestation of the internationally recognized right to resist occupation.

Historical Parallels

Resistance movements throughout history were often branded “terrorist” by dominant powers. The French Resistance against Nazi Germany engaged in armed attacks and sabotage but is now revered as heroic.

Nelson Mandela’s African National Congress (ANC) was on US and British terrorist watch lists until the 1990s.

Similarly, the FLN in Algeria and the Mau Mau in Kenya were vilified as terrorists during their anti-colonial wars.

Today, they are celebrated as freedom fighters who dismantled colonial rule. Hamas should be understood in this historical continuum rather than through selective moral judgments.

Political and Social Legitimacy

Hamas is not an isolated militant group. In the 2006 Palestinian legislative elections, declared free and fair by international monitors, Hamas won a majority, underscoring its legitimacy among Palestinians.

Beyond its military dimension, it provides education, healthcare, and welfare services in Gaza, functioning as both a political and social actor.

This dual role strengthens its claim as a national liberation movement rather than a mere armed faction.

Double Standards

The Western narrative reveals glaring inconsistencies. When Ukraine resists Russian occupation, it is celebrated as self-defense. When Palestinians resist Israeli occupation, it is condemned as terrorism.

Such double standards highlight the politicization of the term “terrorism,” stripping it of objective meaning and weaponizing it to delegitimize legitimate struggles.

Palestinian Struggle

It is important to emphasize that Hamas does not exist in isolation but as part of a century-long Palestinian resistance to dispossession and occupation.

The 1948 Nakba displaced hundreds of thousands of Palestinians, and Israel’s subsequent expansion entrenched a system widely described by human rights organizations—including Amnesty International and Human Rights Watch—as apartheid. In this context, Hamas embodies continuity with the larger Palestinian liberation struggle.

Hamas is not merely a militant group but a resistance movement rooted in the Palestinian right to self-determination. International law, historical precedent, and moral logic place it firmly within the tradition of freedom fighters, not terrorists.

To criminalize Hamas is to criminalize the very notion of liberation. Just as yesterday’s “terrorists” became today’s national heroes, the Palestinian struggle—and Hamas as part of it—must be recognized as a fight for justice and freedom.