Latest News
Trump says Iran deal ‘largely negotiated’ as fight over strait reopening
US President Donald Trump stated on Saturday a “largely negotiated” memorandum of understanding on an Iran peace deal will reopen the Strait of Hormuz, but Iranian Fars news agency contradicted that report.
Trump said on social media that the emerging deal would restore the strait, the critical shipping corridor whose closure roiled global energy markets after the conflict began in February with US and Israeli assaults on Iran. He did not disclose what would be in an agreement. ““Final aspects and details of the Deal are being discussed right now, and will be announced shortly,” Trump posted on Truth Social.
But Fars, early Sunday, reported that the deal would give Iran control of the channel of Hormuz, and Trump’s statement about the channel was “inconsistent with reality.”
Iran’s top officials met with Pakistan’s army chief Asim Munir and said they were moving toward a memorandum of understanding on ending the war.
The Pakistani army said the talks had made “encouraging” progress. “The deal being negotiated is fairly comprehensive to terminate the war,” two Pakistani sources involved in the talks said.
Sharif, the prime minister of Pakistan, complimented Trump on X for his “extraordinary efforts to pursue peace.”
The suggested framework would take place in three stages: legally ending the war, addressing the issue in the Strait of Hormuz and initiating a 30-day window for negotiations on a broader accord, which can be extended, sources told Reuters.
One of the Pakistani sources said if the US agrees to the memorandum, more negotiations might take place after the Eid holiday finishes on Friday.
TRUMP TALKS TO MIDDLE EAST LEADERS
The US president, whose favour ratings have been hurt by the impact of the war on oil prices for US consumers, announced on Friday he would not attend his son’s wedding this weekend, citing Iran among the reasons he wanted to stay in Washington.
Trump said on Truth Social he had a phone chat Saturday with the leaders of Saudi Arabia, Qatar, the United Arab Emirates, Jordan, Egypt, Turkey and Pakistan. The leaders reportedly urged Trump to sign onto the evolving framework, Axios said.
Trump said that a second call with Israeli Prime Minister Benjamin Netanyahu went “very well.
Pakistan has sought to reduce gaps between Iran and the US after weeks of war have closed the critical Hormuz strait to most shipping despite a tentative ceasefire.
Trump has frequently asserted the US hit Iran to prevent it from acquiring nuclear weapons. Iran denies developing nuclear weapons and maintains it has a right to enrich uranium for civilian purposes.The trend this week has been toward a reduction in disagreements, but there are still concerns that need to be resolved through mediators. “We will have to wait and see how the situation ends in the next three or four days,” said Esmail Baghaei, spokesman for the Iranian Foreign Ministry.
Iran has asked for control over the strait and for the US to stop the blockade on its ports and abolish the restrictions on Iranian oil shipments.
Baghaei said the issue of the US blockade on Iran’s shipping was essential but that its priority was stopping the danger of further US assaults and the current struggle in Lebanon, where Iran-allied Hezbollah fighters are fighting Israeli troops who have moved into the south.
Pakistan’s army chief Munir departed Tehran Saturday after discussions with Iran’s chief negotiator Mohammad Baqer Qalibaf and foreign minister Abbas Araqchi.
Qalibaf claimed Iran’s military forces have rebuilt their capabilities during the ceasefire and if the US “foolishly restarts the war,” the results would be “more forceful and bitter” than at the outset of the conflict.
Iran has maintained its stockpile of near-weapons-grade enriched uranium, and its missile, drone and proxy capabilities, despite weeks of conflict.
Latest News
IHC forms larger bench to hear plea against PTI’s Sept 27 protest
The Islamabad High Court (IHC) has issued a written decision on a petition challenging Pakistan Tehreek-e-Insaf’s (PTI) scheduled September 27 protest and long march, while creating a three-member bigger bench to consider the matter.
The larger bench will comprise IHC Chief Justice Sarfraz Dogar, Justice Azam Khan and Justice Muhammad Asif. The bench is slated to hear the case on September 10.
Chief Justice Sarfraz Dogar issued a three-page written order from the last session and directed the chief secretaries and inspectors general of police of all four provinces to come before the court in person on Thursday.
PTI finalises backup protest plan if Minar-e-Pakistan demonstration is denied permission
The court also summoned the Islamabad chief commissioner, Islamabad IG and deputy commissioner in their personal capacity. The advocate generals of all four provinces and Islamabad have also been asked to assist the court in the proceedings.
The petition was submitted by a businessman who contended that PTI’s intended demonstration could disrupt citizens and economic activity in Islamabad. His counsel informed the court that legislation governing protests in the capital already exists and highlighted concerns about the likely use of government resources during the planned mobilisation.
During the previous session, the petitioner’s lawyer also referred to PTI’s 2024 protest and brought relevant remarks and newspaper reports before the court. He suggested that protests should not be utilized to exert pressure on governmental institutions and judges.
The court remarked that the subject was of substantial importance and, in view of its sensitivity, issued a notice to the Attorney General for Pakistan for help in the case. The court then determined that the dispute should be heard by a larger bench.
The plea came after PTI organized a September 27 rally and long march towards Islamabad. The party has said the mobilisation is focused at getting access to party founder Imran Khan for his family and personal doctors, as well as raising concerns regarding his legal and prison-related affairs.
The IHC has fixed the subject for further hearing on September 10, when the summoned officials are likely to appear before the three-member bigger bench.
Latest News
Iran says it caught US underwater drone in Strait of Hormuz
Iran’s Revolutionary Guards said on Tuesday it has captured a U.S. uncrewed submarine at the entrance to the Strait of Hormuz, offering a rare insight at how underwater drones are being used in military operations.
Iranian state media reported the craft was a Dive-LD, a large autonomous underwater vehicle made by California defense firm Anduril. The 19-foot (5.8-metre) submersible can carry out duties like mine countermeasures, seabed mapping, intelligence collection and the inspection of undersea infrastructure such as cables and pipelines, the business has said. “We detained one of the most advanced, clever and unmanned submarines of the terrorist American army near the entrance to the Strait of Hormuz. This submersible is equipped with the latest technologies,” the Revolutionary Guards Navy said in a statement broadcast by Iranian state media.
In response, a Pentagon spokesperson revealed a underwater drone had “malfunctioned more than a day ago.” “It was surveying regional seas in support of ongoing operations. The defective drone was an earlier model that neither collected sensitive data nor carried any classified sonar or radar technology,” the spokesperson stated.
Anduril confirmed the loss of one of its vessels, but minimized the seriousness of the incident. “Dive-LD is an attritable autonomous system, meaning it is built from the outset to operate in perilous conditions where loss of the vehicle is a predicted possibility,” a company representative stated.
The U.S. Navy is spending extensively in unmanned naval systems, including undersea and surface vehicles, as it seeks cheaper ways to monitor broad expanses of ocean, gather intelligence and track hostile ships and submarines without putting troops at danger.
According to Anduril’s website, Dive-LD can operate for up to 10 days without returning to base and is meant to dive to depths of as much as 6,000 metres (19,700 ft). Dive-LD units cost roughly $2.5 million each, U.S. military news site DefenseScoop reported in 2024.
Business
Dollar wobbles, oil’s dash to $100 chills sentiment, Yen stands big
The Japanese yen was pinned near its best level since February on Wednesday, leaving the dollar on the defensive as traders grappled with oil prices heading toward $100 a barrel amid an expanding war in the Middle East.
Iranian-backed Houthis in Yemen attacked several Saudi cities, drawing a U.S. partner further into a battle that has dragged on for more than six months, as U.S. forces struck multiple Iranian oil tankers and Iran threatened a U.S. station in Jordan.
Brent crude futures rose by more than 1.48% to $99.37 a barrel, weighing on global markets ahead of a U.S. inflation data on Friday that will set the stage for central bank meetings next week in the U.S. and Japan.
The currency market nudged the dollar down a touch in response, though some analysts said that was due to the yen’s swift rally over the past week.
The euro held constant at $1.1631 while the pound was last bought at $1.3546. The dollar index, measuring the U.S. currency against a basket of six major rivals, was at 98.15, near its lowest level in nearly two weeks.
OCBC strategists said the current increase keeps Fed policy implications from higher energy prices in focus, especially after last week’s robust U.S. payrolls report reignited expectations of another rate hike. “Higher oil and rates should help limit USD fall for now but we anticipate a more dramatic move will await confirmation from the impending inflation data,” they said in a note.
The yen has been under focus after its 4% surge in September that has altered the math for the popular carry trade in which investors borrow in yen at a low cost and invest in other currencies and assets yielding better interest.
The yen was stronger at 153.65 per dollar, close to the seven-month peak of 152.89 struck on Tuesday. The surge has been broad-based with the Japanese currency strengthening against the euro and sterling as well as favorite carry-trade targets such as the Mexican peso and Turkish lira.
The increase has been fueled by expectations of quicker tightening by the Bank of Japan and the return of offshore cash by Japanese investors and pressure from Washington for a higher yen.
Traders broadly expect the BOJ to hike rates by 25 basis points at its September 17-18 meeting but the rise will rest on if Governor Kazuo Ueda delivers hawkish comments and the wild card will be the Federal Reserve.Aninda Mitra, head of Asia macro and investment strategy at BNY Investments, stated “Much will depend on how the market prices in the Fed’s path of interest rates too.We estimate the Yen’s “fair value” to be in the 140’s and a further move to that area should not be a total surprise following what has clearly been an overshoot to the side of excessive Yen weakness.”
The Australian dollar gained 0.12% to $0.7225, just below a four-month high set in the previous session, in Pacific trade. The New Zealand dollar was up 0.16% at $0.5862.
-
Latest News4 months agoICC board meeting in India: Mohsin Naqvi gets invitation
-
Latest News2 months ago23 people have died during the monsoon as rain-related incidents plague Punjab and KP.
-
Business2 months agoGovt dedicated to resolving Balochistan issues: Dar
-
Latest News2 months agoPakistan making rapid progress in robotics, AI: Shaza Fatima
-
Latest News2 months agoAfter a divorce, LHC decides that women who have been harmed by their spouses get their dower.
-
Latest News4 weeks ago‘Self-Reliance in Digital ID’: NADRA launches locally produced QR code-based National Identity Card
-
Latest News3 months agoA meta program to monitor mouse clicks made by employees in violation of EU privacy regulations
-
Entertainment4 months agoInterim bail given to YouTuber Rajab Butt in gambling app marketing case
