A joint council of Saudi Arabian and Pakistani investors launched a private equity fund on Monday as part of the countries’ broader push to deepen two-way trade and private sector investment.

The Saudi-Pakistan Joint Business Council, formed by the governments of both countries, said the fund’s initial size is “multi hundred million”, which is expected to expand based on opportunities across sectors.

Three-fourths of the fund will be invested in Pakistan, while the rest will be invested in Saudi Arabian projects, the council said in a statement.

The launch of ⁠the ⁠fund comes at a time when Islamabad and Riyadh are deepening longstanding ties, especially in defense, amid few signs of a breakthrough in the months-long US-Iran conflict.

Pakistan’s stock market rallied sharply on Tuesday, with the benchmark index returning to the 177,000 level, up more than 3,000 points in early trade.

The Pakistan Stock Exchange (PSX) saw heavy buying activity at the start of the second trading day of the week, pushing the index up to 177,421 points. On the last trading day of the previous week, the market had closed at 173,886 points.

The latest rally marked a strong recovery that lifted the benchmark index back above the 177,000-point threshold.

The Director General of Inter-Services Public Relations (DG ISPR) highlighted Pakistan’s regional security challenges and efforts to maintain peace during interactive sessions with students.

DG ISPR visited University of Lahore, University of Central Punjab (UCP) and King Edward Medical University (KEMU) where special sessions were arranged with students and faculty members. The meeting discussed domestic and international affairs, the geopolitical situation in the region, particularly Afghanistan, and the role of the Pakistan Army in maintaining regional peace.

Teachers and students publicly expressed their opinions and raised questions on various issues to which the military spokesperson gave detailed answers. Students welcomed the initiative to engage directly with the academic community and stressed the importance of holding such interactive sessions in the future.

They also congratulated the armed forces for their victory at Marka-e-Haq and prayed for the promotion of soldiers who were killed in the line of duty.