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PSX kicks off FY27 with positive momentum, gaining 3,700 points

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The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index sustained its positive momentum and gained over 3,700 points on Wednesday, the first day of the new fiscal year.

The KSE-100 index gained 3,748.40 points (2.08 per cent) to close at 184,050.10.

The benchmark index traded in green the entire session, gradually witnessing gains from an intraday low of 180,565.83 at 9:35am.

The market had staged a recovery rally on Tuesday, propelling KSE-100 above the 180,000 mark and helping the market close FY25-26 with a stellar performance.

Awais Ashraf, director of research at AKD Securities, and Topline Securities Ltd linked today’s investor confidence to the inflation figures for June.

Pakistan’s consumer price index (CPI) rose 11.1pc year-on-year in June, easing from 11.7pc in May and coming within the government’s forecast range of 11pc-12pc, the Pakistan Bureau of Statistics said on Wednesday.

On a month-on-month basis, CPI fell 0.3pc in June, compared with a 0.5pc increase in May and a 0.2pc rise in June last year.

Ashraf noted that the inflation figures were “below market expectations” and “reinforced the view that inflationary pressures” were continuing to subside.

“Expectations of monetary easing have strengthened investor sentiment, as inflation is projected to remain within the State Bank of Pakistan’s target range in FY27 due to a decline in oil prices following the temporary settlement between the US and Iran,” he added.

Topline Securities Ltd also noted that the upbeat investor sentiment was supported by “encouraging macroeconomic developments”, highlighting that the easing CPI reinforced “expectations of a more accommodative monetary policy stance in the months ahead”.

“Further boosting market confidence was the decline in international crude oil prices, with WTI hovering around $68 per barrel, alleviating concerns over Pakistan’s import bill and easing inflationary pressures,” Topline observed.

It added that the rally was “underpinned by aggressive institutional accumulation and broad-based buying, enabling the benchmark index to extend its record-setting momentum”.

Market participation improved compared to the previous session, with total traded volume rising to 941 million shares, while traded value stood at Rs57 billion, it said. K-Electric Limited led the volumes chart, with 82m shares changing hands.

On Monday — following the exchange of military strikes between the United States and Iran over the weekend — the PSX had come under renewed selling pressure, closing 1,156.47 points down.

The outgoing FY25-26 proved to be a landmark year for the PSX, with the KSE-100 index delivering a remarkable 44pc return in rupee terms and 46pc in dollar terms, rising from 125,627 points at the end of FY25 to 180,302.

Analysts believe the KSE-100 index may advance towards its all-time high of 189,000, supported by lower oil prices and rising expectations of policy rate cuts, while inflation data, monetary policy signals and geopolitical developments remain key catalysts.

Asim Azhar restores Hania Aamir Instagram posts

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Pop artist Asim Azhar has unarchived over 600 old Instagram posts, including photos and videos featuring actor Hania Aamir at the persistent request of his fans. The restored posts showcase different phases of his professional journey, featuring old pictures, videos, and special memories.

Marking the occasion, the 29-year-old musician wrote on Instagram, “You’re all welcome; enjoy some old and embarrassing moments.”

As the posts were gradually restored, social media users paid special attention to pictures featuring well-known actress Hania Amir, with fans quickly taking a trip down memory lane. Immediately after the restoration, various showbiz platforms and entertainment pages began highlighting these specific images.

In response, Asim Azhar took to his Instagram Story to clarify his intentions. “Friends! I wish our beloved media would show the remaining 600 of my posts that I’ve restored. My real fans have been wanting to see my posts, my journey, and my achievements again for a long time, so I returned them, but with a purpose,” he penned.

Previously, Hania Amir and Asim Azhar frequently made headlines due to relationship speculations. However, both stars have never publicly addressed the exact nature of their past relationship.

Earlier this month, Asim Azhar left his beloved fans worried after sharing a photo of himself from hospital.

The Meri Zindagi Hai Tu singer posted a selfie on his Instagram Stories where he could be seen wearing a nebulizer mask, alongside the caption “welcome back ,” which immediately led fans to worry about his health.

Following the wave of concern, Asim clarified in a follow-up message that there was no serious issue and that he is recovering from a tonsil infection.

“Ok sorry didn’t mean to worry my fam, just got a tonsil infection,” he wrote in separate Story, calming his followers.

Takeaways From the Colorado Primary Elections: Another Win for Democratic Socialists

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A democratic socialist ousted a veteran congresswoman in Denver, and a U.S. senator lost his bid for governor. But the state’s other senator fended off a progressive primary challenger.

Artificial Intelligence and Non-State Actors: New Challenges for Pakistan’s Foreign Policy and Regional Security

Artificial intelligence is reshaping the security environment by reducing the cost, skill, and time required to conduct harmful operations. Tools once limited to states can now be used by non-state actors for propaganda, cyber operations, surveillance, and deception. This matters for Pakistan because the country already faces cross-border tensions, internal extremist violence, and a fragile information space. When AI strengthens non-state actors, the result is not only a domestic security problem. It also complicates Pakistan’s foreign policy by making threats harder to identify, harder to attribute, and easier to exploit in regional disputes.

Pakistan’s foreign policy operates in a difficult regional setting shaped by rivalry with India, uncertainty in Afghanistan, strategic ties with China, and pressure from wider international actors. AI-enabled non-state actors add a new layer of instability to this environment. Small groups can now generate persuasive fake content, launch cyberattacks, coordinate across encrypted platforms, and hide behind digital anonymity. The core problem is that these capabilities lower the barrier to high-impact disruption while weakening the state’s ability to respond quickly and credibly.

AI first expands the reach of propaganda and radicalization. Generative tools can produce realistic images, videos, speeches, and translated messages at scale, allowing extremist and criminal networks to target audiences more precisely than before. The problem is not only speed. It is also credibility. Deepfakes and synthetic content blur the line between real and fabricated material, making it easier to spread fear, recruit supporters, and shape public opinion. In Pakistan, where online rumor cycles often travel quickly through social media, such content can intensify polarization and create space for extremist narratives.

AI also strengthens cyber operations. Automated reconnaissance can help malicious actors locate weaknesses in banks, energy systems, communication networks, and public databases. AI-assisted malware can adapt, evade detection, and scale attacks more efficiently than older tools. For Pakistan, this is especially serious because disruption of financial services, transport links, or electricity infrastructure would not remain a technical incident. It would quickly become a strategic and diplomatic concern, since repeated cyber incidents can weaken confidence in state capacity and invite external suspicion about who is responsible.

A further concern is the use of drones, encrypted communications, and digital finance. Drones make it easier for non-state actors to observe, transport, and attack across borders. Encrypted channels allow dispersed groups to coordinate without direct physical contact, while cryptocurrencies and online payment systems can support fundraising and conceal financial trails. These capabilities matter for Pakistan because they make border management and counterterrorism more difficult along both the western frontier and the India-Pakistan border. They also increase the risk that local militant activity will acquire regional implications.

The most immediate foreign policy challenge is attribution. AI makes it easier to disguise the origin of an attack, manipulate evidence, and route operations through third-party infrastructure. That creates uncertainty about whether a threat came from an independent group, a proxy network, or a foreign sponsor. In South Asia, this is dangerous because even a fabricated video or a coordinated cyber incident can be misread during a crisis. Between India and Pakistan, where escalation risks are already high, AI-driven misinformation could accelerate miscalculation and narrow the space for diplomacy. AI-enabled non-state activity also damages Pakistan’s external image. Coordinated disinformation can portray the state as unstable, unsafe for investment, or unable to control violence. Such narratives matter in foreign policy because they influence diplomatic confidence, investment decisions, and perceptions in international forums. At the regional level, AI-assisted hybrid tactics blur the separation between online influence, cyber disruption, and on-the-ground violence. That makes security competition more complex and places greater pressure on Pakistan to respond with credible evidence rather than reactive statements.

Pakistan needs a response that connects domestic security with foreign policy planning. First, it should expand AI-enabled cyber defense and digital forensics so that malicious activity can be detected and attributed more reliably. Second, NACTA, intelligence agencies, and relevant civilian institutions should coordinate on online extremism, data sharing, and crisis communication. Third, Pakistan should invest in media literacy and fact-checking capacity to reduce the impact of deepfakes and false narratives. Fourth, Islamabad should take an active role in regional and international discussions on AI governance, because rules on responsible use, transparency, and terrorist misuse will shape future security conditions. Pakistan should also support confidence-building measures with neighbors on cyber incidents and information integrity, since crisis stability in South Asia now depends on more than military deterrence. The broader direction is already visible in Pakistan’s own AI policy framework, which emphasizes awareness, preparedness, and responsible adoption of AI.

Artificial intelligence has changed the balance between states and non-state actors by giving smaller groups tools that generate disproportionate effects. For Pakistan, the challenge is not simply technological. It is strategic. AI empowers propaganda networks, cyber attackers, and militant groups while making attribution more difficult and escalation more likely in a tense regional setting. The result is greater pressure on foreign policy, regional stability, and state credibility. Pakistan can respond only if it treats AI as both a security threat and a governance issue. A mix of cyber resilience, institutional coordination, public awareness, and international engagement offers the most practical path to protecting national security in an increasingly AI-driven environment. If Pakistan builds these capabilities early, it can reduce the space for hostile actors, protect its diplomatic interests, and improve resilience against the next wave of AI-enabled threats.

UN report sees enormous potential benefits and big risks from AI

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The rapid development of AI offers huge potential benefits to countries and people around the world, but also poses big risks, 40 leading scientists and experts said in the first report by a United Nations independent scientific panel on the technology.

The report, to be presented to governments at an inaugural UN Global Dialogue on AI governance in Geneva July 6 to 7, offers the first global, independent scientific assessment of AI, with a fuller, comprehensive report planned next year.

Members of the panel were drawn from every region of the world, and its members serve a three-year term, independent of any government, institution or company.

According to the report, policymakers need scientific evidence to govern AI but its capabilities are outpacing scientific understanding and governments’ ability to adapt, with few methods available for controlling highly autonomous AI systems.

Panel co-chair Yoshua Bengio also noted growing evidence of deceptive AI behaviour and said science could not guarantee AI will not cause catastrophic harm “either on its own or due to malicious users” as capabilities increase.

“The potential benefits of AI are enormous,” the report concluded. “The rapid, unchecked deployment of the technology at scale also presents considerable risks, including harms to the mental health of users, potential use as a destructive tool, impacts on social, economic and environmental systems, and challenges associated with controlling the technology.”

It further said that AI adoption has accelerated broadly, but unevenly, across countries and sectors. Globally, over a billion people now use conversational AI weekly, but adoption in developing countries lags.

It noted that AI development is even more concentrated, with the US accounting for 75 per cent of the computing power among the world’s top 500 AI supercomputers, and China 15pc.

Although more than 7,000 languages are spoken worldwide, current AI models are trained for only a small fraction and machine translation of some languages is riddled with errors that can affect health diagnoses and treatment decisions.

Risks include potential negative impacts on human rights, social systems and the environment, with AI-generated child sexual abuse material and deepfake-enabled sexual violence circulating more frequently.

AI also makes it easier to produce and target persuasive content at scale, contributing to a “gradual erosion of information integrity that can weaken public trust, social cohesion and democratic deliberation”.

Most countries, including advanced economies, lack the technical expertise to assess the most capable new AI models or participate meaningfully in their governance, the report said.

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Deep beneath a South Korean mountain, workers are reviving a mine that could challenge China’s grip on a metal vital to weapons, chips and industry.

A Risky Burial in the Heart of an Ebola Outbreak

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Back in Congress, Tom Kean Jr. Faces a New Challenge: Staying There

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The New Jersey Republican has explained the reason for his long absence: depression. Now he must convince voters that he deserves another term.

CM Murad orders strict crackdown on wheat hoarding, profiteering to prevent artificial shortages

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KARACHI  –  Sindh Chief Minister Syed Murad Ali Shah has directed the food department and district administration to launch a strict crackdown on wheat hoarding and profiteering, warning that artificial shortages and market manipulation would not be tolerated as the province prepares for its wheat requirements for the remainder of the year.

Presiding over a high-level meeting at the CM to review wheat availability, stock positions and market trends, the chief minister said the government would take all necessary measures to ensure uninterrupted availability of wheat and flour at reasonable prices across Sindh. The meeting was attended by Provincial Ministers Makhdoom Mahboobzaman (Food), Mukesh Kumar Chawla (Excise & Taxation), Mohammad Bux Khan Mahar (Agriculture) and Jam Khan Shoro (Irrigation), Adviser Gianchand Esrani (Rehabilitation), Chief Secretary Asif Hyder Shah, Secretary to CM Asif Jameel, Agriculture Secretary Zaman Narejo, Food Secretary Ghulam Abbas Naich and other senior officials.

Minister Food Makhdoom Mahboob informed the CM that Sindh produced 4.8 million metric tonnes (MMT) of wheat during the 2025-26 crop season (which is a bumper crop), while the province’s annual consumption requirement stood at 6.53 MMT, indicating a structural shortfall.

According to the presentation, Sindh had a total wheat stock availability of 4.94 MMT, including carryover stocks. However, after accounting for consumption during April-June and wheat moved to other provinces, the province is projected to face a deficit of around 2.1 MMT by March 2027 if market supplies do not continue to flow. The Minister Food told the chief minister that the Food Department currently holds 0.2218 MMT of wheat stocks, including carryover reserves and fresh procurement.

The meeting was told that Pakistan had an estimated net wheat balance of 24.39 MMT, of which nearly 12.2 MMT was believed to be in the possession of farmers and households.

Officials noted that only a fraction of these stocks was currently visible in the market, with approximately 2.5 MMT in Punjab and 1 MMT in Sindh readily traceable, while nearly 9.5 MMT remained outside normal market channels. Expressing concern, Murad Shah said that hidden stocks could create unnecessary market pressure and encourage speculative trading. “The government will not allow hoarders and profiteers to exploit consumers through artificial shortages. Wheat is a strategic commodity, and its availability must be ensured at all costs,” the chief minister said.

The meeting reviewed wheat price trends across the country and was informed that wheat prices had risen sharply in recent months.

Current wheat prices per 40 kilograms were reported at Rs 4,150 – Rs 4,350 in Punjab, Rs 4,680 in Sindh, Rs 4,680 in Khyber Pakhtunkhwa and Rs 4,600 in Balochistan: Rs4,600 Officials noted that wheat prices in Punjab had climbed from around Rs3,200 per 40 kg in early April to between Rs4,200 and Rs4,600, representing an increase of more than 30 to 40 per cent within a few months. The chief minister was also briefed that returns from holding wheat stocks had begun to exceed the returns available through National Savings instruments, creating incentives for speculative storage and hoarding. The meeting reviewed flour prices in major cities and was informed that average atta prices per kilogram were Rs135 in Karachi, Rs 131 Hyderabad, Rs124 in Sukkur, Rs 124 Larkana. An analysis was presented in the meeting showing that rising wheat prices were directly translating into higher flour and roti prices.

Murad Shah emphasised that the government’s priority was to protect consumers from unjustified price increases. “Any increase in wheat prices must not become an excuse for excessive profiteering. The administration must ensure that consumers receive flour at fair prices,” he said.

Reviewing proposals submitted by the Food Department, the chief minister directed authorities to immediately intensify enforcement under the Sindh Essential Commodities Price Control and Prevention of Profiteering and Hoarding Act, 2005.

He ordered district administrations to identify illegal stockpiles, inspect warehouses and take action against unlicensed wheat traders.

The meeting was informed that border monitoring had already been initiated to prevent the unauthorised movement of wheat outside the province.

Murad Shah directed the food department to strictly monitor wheat stocks across Sindh; enforce licensing requirements for wheat storage and trading; take legal action against hoarders and profiteers; strengthen border surveillance to curb unauthorised wheat movement; ensure regular market supplies to stabilise prices; and expedite proposals for fixing stock limits for flour mills.

The chief minister was informed that a summary proposing stock limits for flour mills had already been submitted for consideration by the Sindh Cabinet.

It was also proposed that wheat stocks seized from illegal hoarders be treated as government-procured wheat and shifted to official godowns. Under the proposal, the owners of seized stocks would be compensated at a rate of Rs3,500 per 40 kg.

Concluding the meeting, Murad Shah directed all concerned departments to maintain close coordination and submit regular reports on wheat stocks, prices and market conditions.

“Our objective is simple: wheat and flour must remain available, affordable and accessible to every citizen of Sindh. No one will be allowed to manipulate the market at the expense of the public,” the chief minister said.

1 killed, 6 others injured in suspected drone strike in Peshawar ouskirts

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PESHAWAR: A woman was killed while six others were injured in a suspected drone strike in the Pastawana area of the Hassan Khel subdivision on the outskirts of Peshawar late on Tuesday night.

Sources initially said that seven people, all belonging to the same family, were immediately taken to the hospital after the incident was reported. They added that one of the injured persons, a woman, was seriously wounded and in critical condition.

Later, locals said that two people, including a man identified as Sher Mast and his 15-year-old son, were still being treated at Lady Reading Hospital while the others were discharged early on Wednesday.

An elder from Hassan Khel confirmed to Dawn that Sher Mast’s daughter-in-law had died.

In April, a suspected drone strike had caused minor damage to a mosque also located in Hassan Khel subdivision. However, no casualties were reported in the incident.

Sources said the strike took place in Chandoka area, on the border between Peshawar and Kohat.

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