logo
COAS, Trump discuss trade, crypto

COAS, Trump discuss trade, crypto

Business Recorder11 hours ago

ISLAMABAD: Chief of Army Staff of Pakistan, Field Marshal Syed Asim Munir, met with former US President Donald J. Trump at the White House in a high-level engagement that began with a luncheon in the Cabinet Room and continued with a visit to the Oval Office.
According to Inter-Services Public Relations (ISPR), President Trump was accompanied by Secretary of State Senator Marco Rubio, and Steve Witkoff, the US Special Representative for Middle Eastern Affairs. Field Marshal Asim Munir was joined in by Pakistan's National Security Advisor.
During the meeting, the Chief of Army Staff conveyed the deep appreciation of the Government and people of Pakistan for President Trump's constructive and result-oriented role in facilitating a ceasefire between Pakistan and India in the recent regional crisis.
Trump praises Field Marshal over ceasefire with India
The COAS acknowledged President Trump's statesmanship and his ability to comprehend and address the multifaceted challenges faced by the global community.
President Trump, in turn, lauded Pakistan's ongoing efforts for regional peace and stability and appreciated the robust counter-terrorism cooperation between the two states. Both sides reaffirmed their commitment to continued collaboration in the field of counter-terrorism.
Discussions also encompassed avenues for expanding bilateral cooperation in multiple domains including trade, economic development, mines and minerals, artificial intelligence, energy, cryptocurrency, and emerging technologies. President Trump expressed keen interest in forging a mutually beneficial trade partnership with Pakistan based on long-term strategic convergence and shared interests.
A detailed exchange of views also took place on the prevailing tensions between Iran and Israel, with both leaders emphasizing the importance of resolution of the conflict.
President Trump commended Field Marshal Asim Munir's leadership and decisiveness during a period of complex regional dynamics. In a gesture reflecting the warmth of bilateral ties, Field Marshal Syed Asim Munir extended an invitation to President Trump, on behalf of the Government of Pakistan, to undertake an official visit to Pakistan at a mutually convenient date.
Although initially scheduled for one hour, the meeting extended for over two hours, underscoring the depth and cordiality of the dialogue.
Reuters adds: Army chief Field Marshal Asim Munir and US President Donald Trump discussed trade, economic development, and cryptocurrency during their meeting at the White House, the Pakistan army said.
'President Trump expressed keen interest in forging a mutually beneficial trade partnership with Pakistan based on long-term strategic convergence and shared interests,' the army said in a statement on Thursday.
Munir and Trump also exchanged views on prevailing tensions between Israel and Iran, the statement added.
Reuters adds: Separatist and jihadist militants on the Pakistan-Iran border could take advantage of any collapse of authority in Iran, fears that army chief pressed in a meeting this week with the US President Donald Trump. Anti-Iranian and anti-Pakistan outfits operate on both sides of the 560-mile (900km) long border. As Israel bombs Iran's nuclear program, its officials have repeatedly indicated that they are seeking to destabilize the Iranian government or see it toppled.
As well as worrying about chaos spilling over from Iran, Pakistan is concerned about the precedent set by Israel of attacking the nuclear installations of another country. Nuclear-armed rivals Pakistan and India fought a four-day conflict in May.
Following a Wednesday lunch at the White House with army chief, Field Marshal Asim Munir, Trump said: 'They're not happy about anything', referring to Pakistan's views on the Israel-Iran conflict. Pakistan's military said on Thursday that the two had discussed Iran, 'with both leaders emphasizing the importance of resolution of the conflict'.
Pakistan has condemned Israel's attack on Iran as a violation of international law. 'This is for us a very serious issue what is happening in our brotherly country of Iran,' Shafqat Ali Khan, spokesman for Ministry of Foreign Affairs, said on Thursday. 'It imperils the entire regional security structures, it impacts us deeply.'
Some of the militant groups on the border have welcomed the upheaval. Jaish al-Adl (JaA), an Iranian jihadist group formed from Baloch and Sunni Muslim minorities and which operates from Pakistan, said Israel's conflict with Iran was a great opportunity.
'Jaish al-Adl extends the hand of brotherhood and friendship to all the people of Iran and calls on all people, especially the people of Balochistan, as well as the armed forces, to join the ranks of the Resistance,' the group said in a statement on June 13.
Conversely, Pakistan fears that separatist militants from its own Baloch minority, which are based in Iran, will also seek to step up attacks.
'There's a fear of ungoverned spaces, which would be fertile ground for terrorist groups,' said Maleeha Lodhi, a former ambassador to Washington.
Pakistan has unstable borders with Taliban-run Afghanistan and arch-rival India. It does not want to add another volatile frontier on its long border with Iran.
The Iran-Pakistan border region is populated with Baloch who have long complained about discrimination and launched separatist movements. On Pakistan's side, the region is a province called Balochistan and in Iran it is Sistan-Baluchistan.
Until Israel's bombing of Iran, Tehran was closer to Pakistan's arch-rival India. Pakistan and Iran had even traded air strikes last year, accusing each other of harbouring Baloch militants. But the attack on Iran has upended alliances, as India has not condemned Israel's bombing campaign.
China has also said that it is deeply concerned about the security situation in Balochistan, with the area being a focus of Beijing's multi-billion dollar infrastructure investment program in Pakistan, centred on the new Chinese-run port of Gwadar. Baloch militant groups in Pakistan have previously targeted Chinese personnel and projects.
On Iranian side of the border, Tehran has at different times accused Pakistan, Gulf nations, Israel and the United States of backing the anti-Iran Baloch groups.
Simbal Khan, an analyst based in Islamabad, said the different Baloch groups could morph into a 'greater Balochistan' movement which seeks to carve out a new nation from the Baloch areas of Pakistan and Iran.
'They're all going to fight together if this blows up,' said Khan.
Copyright Business Recorder, 2025

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Financials help Indian shares log weekly gains
Financials help Indian shares log weekly gains

Business Recorder

time29 minutes ago

  • Business Recorder

Financials help Indian shares log weekly gains

Indian equity benchmarks rose on Friday, driven by gains in financials after the central bank eased project financing rules, and closed the week higher despite ongoing tensions in the Middle East. The Nifty 50 rose 1.29% to 25,112.4, while the BSE Sensex added 1.29% to 82,408.17. Both the indexes snapped a three-session losing streak on Friday and gained about 1.6% for the week. On the day, all the 13 major sectoral indexes advanced. Financials rose 1.3%, with state-run banks up 1.6%, after the Reserve Bank of India eased norms for infrastructure lending from October 2025. The RBI lowered provisioning requirements for under-construction and operational projects, making funding cheaper for banks. 'The RBI's move sparked a solid rally in financial stocks, giving the market a clear directional push,' said Vishnu Kant Upadhyay, assistant vice president – research and advisory at Master Capital Services. Indian shares subdued as Middle East conflict saps risk appetite 'The return of foreign inflows in last few sessions and relentless domestic buying have injected strong liquidity, giving markets a solid lift,' he added. Foreign investors have returned to Indian equities with net purchases over the last three sessions, while domestic institutional investors have kept the momentum going, snapping up stocks for an impressive 23 sessions. The broader small-caps and mid-caps rose about 1% and 1.5%, respectively, on Friday. Analysts caution Indian markets' near-term trajectory hinges on Middle East tensions and their impact on oil and trade. Overnight, Israel bombed Iranian nuclear sites, triggering retaliatory missile and drone strikes. Sentiment remains fragile amid fears of escalation, with the White House saying President Trump will decide within two weeks on U.S. military support for Israel. Among stocks, Mahindra & Mahindra gained 2.9% on Friday, extending its weekly gain to 6% — the highest among Nifty 50 constituents — after getting the competition regulator's approval for its SML Isuzu acquisition. Tata Motors fell 5% this week after Jaguar Land Rover trimmed margin guidance, triggering fiscal year 2025 earnings concerns among brokerages.

Audi could build plant in US to placate Trump, Spiegel reports
Audi could build plant in US to placate Trump, Spiegel reports

Business Recorder

time29 minutes ago

  • Business Recorder

Audi could build plant in US to placate Trump, Spiegel reports

BERLIN: Volkswagen's premium brand Audi could build a plant at a new location in the United States under scenarios being considered to placate President Donald Trump in the tariff conflict, the Spiegel news magazine reported on Friday. Audi is considering building a plant in the southern U.S., which would be the more expensive option out of a number of scenarios being considered, with company sources estimating costs of up to 4 billion euros ($4.6 billion), the report said. An Audi spokesperson said that the company aims to build up more of a presence in the United States. 'We are currently examining various scenarios for this. We are confident that we will make a decision this year in consultation with the (Volkswagen) group on how this will look in concrete terms,' she said in an emailed statement, reaffirming earlier comments made by the company. Audi has no production of its own in the U.S., but Volkswagen has a plant in Chattanooga, Tennessee and one under construction near Columbia, South Carolina. Trump's announcement of sweeping tariffs has already racked up hundreds of millions of euros in costs for German carmakers heavily reliant on their export business, according to an industry representative. BMW, Mercedes-Benz and Volkswagen are in talks with Washington over a possible import tariff deal, seeking to use their U.S. investments and exports as leverage to soften any blow, sources have told Reuters.

UN blacklists Israeli forces for grave violations against children in Gaza
UN blacklists Israeli forces for grave violations against children in Gaza

Express Tribune

time2 hours ago

  • Express Tribune

UN blacklists Israeli forces for grave violations against children in Gaza

A girl stands in the ruins of the school building in Gaza City that was hit by an air strike Photo: Reuters Listen to article Israeli armed and security forces have once again been included in the United Nations Secretary-General's annual list of parties committing grave violations against children, according to the Children and Armed Conflict report released Thursday. The listing comes amid what the report describes as 'an alarming rise' in violations against children in the Occupied Palestinian Territory, particularly in Gaza. The UN verified 8,554 grave violations against 2,959 children in 2023, of which 7,188 were attributed to Israeli forces. Among the verified violations were the killings of 1,259 Palestinian children in Gaza, mostly due to Israeli air strikes and the use of explosive weapons in populated areas. In the Occupied West Bank, 97 Palestinian children were killed, the majority by live ammunition fired by Israeli forces. Additionally, 1,561 Palestinian children were maimed—many by Israeli air strikes, live ammunition, and tear gas. Read more: Gaza rescuers say 33 killed by Israel fire The report noted the use of 27 Palestinian boys as human shields by Israeli forces, along with attacks on 502 schools and hospitals. It also cited the detention of 951 Palestinian children, with 112 held under administrative detention without trial. 'I am deeply alarmed by the continued increase in grave violations against children perpetrated by Israeli armed and security forces,' Secretary-General António Guterres wrote. He called on Israel to 'abide by international humanitarian and human rights law,' and to cease the use of explosive weapons in densely populated areas. The UN also reported 2,263 denials of humanitarian access in Gaza and verified the deaths of at least 280 UN personnel since 7 October 2023 during Israeli military operations. Read more: Israel kills at least 72 in Gaza strikes, including 21 near aid sites The Secretary-General urged Israel to develop and sign an action plan with the UN to end and prevent such violations. He also condemned attacks by Hamas and other Palestinian armed groups, including the use of hostages, indiscriminate rocket fire, and the use of schools and hospitals for military purposes. While calling on Hamas, Palestinian Islamic Jihad, Hezbullah, Yemen's Houthis, and Iran to cease attacks affecting civilians, the report squarely places the majority of verified grave violations in 2023 on Israeli forces. Israel's inclusion on the UN 'list of shame' comes despite international debate in recent years over the Secretary-General's discretion in naming state actors. This marks the second consecutive year Israel has appeared on the list, reflecting mounting global concern over its military conduct in the occupied territories. Globally, the Democratic Republic of Congo, Somalia, Nigeria, Haiti, and the Occupied Palestinian Territory were highlighted as regions with the highest violations. Lebanon, Mozambique, Haiti, Ethiopia, and Ukraine saw the sharpest percentage increases. Russian security forces remain on the list, with 1,914 violations documented in Ukraine. The report states that non-state actors accounted for 50% of all violations, while government forces were primarily responsible for child deaths and injuries.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store