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Business Recorder
02-08-2025
- Business
- Business Recorder
Iran seeks to boost trade to $10bn level
LAHORE/ISLAMABAD: The President of Iran Dr Masoud Pezeshkian was accorded a warm welcome upon his arrival here Saturday, on a two-day visit to Pakistan. On arrival, he was warmly received by PML-N President Nawaz Sharif and Punjab Chief Minister Maryam Nawaz. Two children presented bouquet to the visiting president, who was leading a high-level delegation. Quetta chamber highlights obstacles to trade with Iran, Afghanistan During his stay, Dr Masoud Pezeshkian will meet President Asif Ali Zardari and hold delegation-level talks with Prime Minister Shehbaz Sharif. These meetings will include follow up discussions on trade agreements, joint border markets and other matters which were discussed during the visit of late Ebrahim Raisi to Pakistan in April last year. It is first official visit of Dr Masoud Pezeshkian to Pakistan as President of Iran. Elaborate security arrangements were made for the visit of Iranian delegation. Later, President of Iran, Dr Masoud Pezeshkian accompanied by Punjab Chief Minister visited the mausoleum of Pakistan's national poet Allama Dr Muhammad Iqbal. He laid a floral wreath at the mausoleum and offered 'Fateha.' He paid homage to great philosopher and Poet of the East. On this occasion, the Khateeb of the Badshahi Mosque, Maulana Abdul Khabeer Azad offered special prayers for the strengthening of Pak-Iran relations, prosperity and development of Pakistan and the well-being of Muslims. Iranian President Dr Masoud Pezeshkian recorded his impressions for Allama Iqbal's literary legacy in the visitors' book. Earlier, Iranian President Masoud Pezeshkian, prior to departure to Pakistan, said that the trade relations between Tehran and Islamabad are strong, emphasising the plan to elevate their annual trade exchanges to $10 billion. He said that Tehran and Islamabad have enjoyed good, friendly, and deep-rooted relations since the establishment of Pakistan. The two countries cooperate in economic, scientific, cultural, and border areas, and a deep bond exists between the people of both sides, he said. Pezeshkian highlighted that during the recent aggression by the Israeli regime and the US against Iran's soil, Pakistan was among the countries that strongly condemned this aggression and declared its readiness to provide any necessary support for Iran's territorial integrity, as well as for the government and people of Iran. The Iranian President identified boosting border trade with Pakistan via land, air, and sea as priorities for this trip. Through Pakistan, Iran can connect to the Silk Road linking China and Pakistan, and the route can then extend through Iran to Europe, he said. Emphasising that security and border issues are of great importance to both Iran and Pakistan, he said that regional security must be achieved through mutual cooperation. Pezeshkian also noted that the enemy plans to create divisions among Muslims, but Iran will thwart the enemies' plots, adding Tehran aims to maintain unity and solidarity with Islamabad. Iranian President Masoud Pezeshkian arrived here on Saturday on a two-day official visit aimed at strengthening economic ties and expanding bilateral trade with Pakistan. Pezeshkian was received at Nur Khan Air Base by Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, and Information Minister Attaullah Tarar. 'This important visit will pave the way for stronger Pakistan-Iran ties,' PM Sharif said in a post on X, adding that he looked forward to 'substantive engagements' with the Iranian delegation. Earlier in the day, Pezeshkian landed in Lahore, where he was welcomed by Pakistan Muslim League-Nawaz (PML-N) leader and ex-prime minister Nawaz Sharif and Punjab Chief Minister Maryam Nawaz. The visit comes amid warming relations between the two neighbours, with Islamabad recently expressing solidarity and a desire for deeper cooperation with Tehran. The officials say that regional coordination is becoming increasingly vital amid shifting geopolitical dynamics. During his stay, President Pezeshkian is scheduled to meet President Asif Ali Zardari and hold delegation-level talks with Prime Minister Sharif on Sunday. Security has been tightened across key venues in Islamabad to safeguard the visiting delegation. Pezeshkian is the second Iranian president to visit Pakistan in two years. His predecessor, late Ebrahim Raisi, visited in April 2024, shortly before his death in a helicopter crash. PM Sharif and Pezeshkian previously met in Tehran in May during the Pakistani leader's regional tour to express gratitude for support during tensions with India. Both the countries are set to sign a number of agreements aimed at bolstering the trade between the two sides, and further strengthen the economic relations. Copyright Business Recorder, 2025
Express Tribune
31-07-2025
- Politics
- Express Tribune
ATC convicts 167 in May 9 riots; top PTI leaders jailed
Listen to article A special anti-terrorism court (ATC) in Faislabad sentenced on Thursday top Pakistan Tehreek-e-Insaf (PTI) leaders to up to 10 years in prison in cases pertaining to May 9 protests. Opposition leader in National Assembly Omar Ayub, opposition leader in Senate Shibli Faraz, Zartaj Gul, MNA Sahibzada Hamid Raza and former MNA Sheikh Rashid Shafiq - former interior minister Sheikh Rasheed Ahmed's nephew - were among the 108 PTI leaders convicted out of the 185 implicated in the cases while 77 others were acquited. Around 60 of those convicted including Shibli Faraz, Omar Ayub, Zartaj Gul and Hamid Raza were sentenced to 10 years in prison each while other convicts were each handed prison terms of three years. Meanwhile, PTI leader Fawad Chaudhry was acquitted along with Zain Qureshi, Khayal Kastro, Faizullah Kamoka, Rana Asad Mehmood Khan, Bilal Ashraf Basra, Haroon Rasheed, Amara Rasheed, Sahibzada Hassan Raza, and Kamran Warraich. Shafiq was absent from court during the hearing and did not appear. He has reportedly gone into hiding to avoid arrest. Warrants issued Earlier today, ATC issued arrest warrants for 50 PTI leaders in connection with various protest-related cases registered at multiple police stations in the federal capital ahead of PTI's August 5 protest. The warrants were issued by Judge Abul Hasnat Zulqarnain. PTI Secretary General Salman Akram Raja called for a nationwide protest on August 5 last week, urging the public to support what he termed a 'historic movement' for national sovereignty rather than mere political survival. Raja condemned what he described as unconstitutional actions against PTI lawmakers and a broader crackdown on dissent. He specifically criticised the Punjab Assembly's decision to send references against 26 PTI members to the Election Commission of Pakistan, calling the move unlawful and politically motivated, and asserted that PTI members would continue to raise their voices against this step. The warrants for 41 PTI leaders were issued on Thursday, while arrest warrants for nine others had been issued earlier. The warrants were issued in a case number registered at Karachi Company Police Station. Prominent names among those facing arrest include former President Arif Alvi, Abdul Qayyum Niazi, Shibli Faraz, Faisal Javed, Salman Akram Raja, Rauf Hassan, Murad Saeed, and Ahmad Niazi. Arrest warrants have also been issued for Khyber Pakhtunkhwa (K-P) Chief Minister Ali Amin Gandapur, Asad Qaiser, Hammad Azhar, Atif Khan, Shoaib Shaheen, Azam Khan Swati, Omar Ayub, and Sahibzada Hamid Raza. Other PTI members named in the warrants include Aleema Khanum, Sheikh Waqas Akram, Kanwal Shauzab, Shandana Gulzar, and Sher Afzal Marwat. Faizabad protest case In the Faizabad protest case, which pertains to demonstrations held over former prime minister Imran Khan's disqualification, the court maintained that the status of CM Ali Amin Gandapur as a proclaimed offender remains unchanged. The court ordered Islamabad Police to arrest Gandapur, stating that the arrest warrants remain in effect. The court further directed that if any order exists from the Peshawar High Court, it must be complied with. PTI leader Faisal Javed Khan and others appeared before the court. Upon a request from lawyers, the hearing was adjourned until August 6. The case against Ali Amin Gandapur and others is registered at Industrial Area Police Station. March 18 protest In a separate case pertaining to PTI leaders' protest on March 18, the ATC issued arrest warrants for PTI MNA from Faisalabad, Ali Afzal Sahi. Judge Tahir Abbas Supra, who also presided over this case, noted that "Ali Afzal Sahi has not appeared before this court to date". Arrest warrants were also issued for other absent PTI workers. Hearing for the case registered at Golra Police Station was adjourned till August 9. November 26 protest Meanwhile, in the case registered at Secretariat Police Station related to the November 26 protest, the court dismissed the bail of an accused who repeatedly remained absent. Arrest warrants were issued for those not present at the hearing. A forensic report related to the case was submitted, and the next hearing was set for August 5. The hearing of the November 26 case registered at Kohsar Police Station was also adjourned until August 4. Arrest warrants were issued for accused individuals who failed to appear. Non-bailable arrest warrants have been issued for 15 PTI leaders, including Arif Alvi, Sheikh Waqas Akram, Kanwal Shauzab, Zubair Niazi, and Asad Qaiser, in connection with ten cases registered in Rawalpindi related to the November 26 protest, government prosecutors said Thursday. Addressing a press conference outside an ATC in Rawalpindi, prosecutor Syed Zaheer Shah, flanked by district prosecutor Chaudhry Muhammad, stated that bail cancellation requests for 68 accused individuals have also been filed, along with separate applications against their guarantors. Zaheer Shah said that delaying tactics by the accused will no longer be tolerated. In the case registered at Sadiqabad Police Station, nine out of 111 nominated individuals have already been convicted. A total of 31 cases related to the November 26 protest have been registered in the Rawalpindi Division — including 20 in Attock, 10 in Rawalpindi, and one in Chakwal. Thirteen accused are currently on interim bail. According to the prosecutor, the accused appear in court once and submit outdated medical reports to request adjournments. He said that investigations in all 31 cases have been completed, and after the issuance of non-bailable warrants, the accused typically secure protective bail from high courts. Cop's killing in Taxilla In a case involving the killing of a police officer in Taxila, Imran and Bushra Bibi are among the nominated accused. ATC has further issued non-bailable arrest warrants in the Wah Cantt and Naseerabad cases for Arif Alvi, Ali Amin Gandapur, Omar Ayub, Asad Qaiser, Hammad Azhar, and 20 others.
Calgary Herald
30-07-2025
- Politics
- Calgary Herald
Canadian poll suggests social media 'normalizing prejudice'
The poll found that 39 per cent of Canadians between 18 and 24 heard an antisemitic remark and 46 per cent reported hearing an Islamophobic comment since Hamas's invasion of Israel on Oct. 7, 2023. Photo by Getty Images A new poll has found young Canadians are the most likely to have heard antisemitic and Islamophobic comments, and one researcher suggests social media may risk 'normalizing prejudice.' THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Calgary Herald ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors The Leger survey, which was conducted for the Association for Canadian Studies, found that over a third (39 per cent) of Canadians between 18 and 24 heard an antisemitic remark and nearly half (46 per cent) reported hearing an Islamophobic comment since Hamas's invasion of Israel on Oct. 7, 2023. Jack Jedwab, the association's chief executive, told National Post in an email that the high exposure of young Canadians to antisemitism and Islamophobia 'was the biggest surprise' for him when reviewing the data. He said the data suggests social media played a role in exposing young Canadians to such rhetoric. Your weekday lunchtime roundup of curated links, news highlights, analysis and features. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again The poll found a 'big spike' in antisemitism, with a marked convergence of exposure rates to antisemitism and Islamophobia for all Canadians, Jedwab said. 'If you look back at surveys prior to October 2023, Canadians were far more likely to say they were far more exposed to prejudice directed towards Muslims than they were to other groups, including Jews,' he wrote. 'The fact that exposure is now relatively similar testifies to a big spike in exposure to antisemitism.' (Only about one per cent of Canada's population is Jewish, while 4.9 per cent identified as Muslim, as of 2021.) Increased exposure to intolerant views, 'risks normalizing prejudice,' Jedwab said. It is 'something that badly needs to be addressed.' He pointed to a recent report showing alarming levels of Jew hatred in Ontario public schools as an urgent call to action. 'It needs to be stated very clearly by persons in positions of authority that it is not acceptable to stigmatize individuals wearing a Star of David or a hijab. Regrettably, there is too much equivocation on this and other manifestations of prejudice.' The poll found that a respondent's perception of hearing a discriminatory comment heavily shaped how they viewed media coverage of the Hamas-Israel war. Among those who heard antisemitic comments only, over a third (35.5 per cent) thought mainstream media was more favourable to the Palestinians, while roughly a quarter (25.1 per cent) believed Israel was portrayed better. Conversely, respondents who said they heard only Islamophobic comments thought Israel received better media coverage (35.8 per cent), while over a quarter (27 per cent) saw the Palestinians getting more sympathetic coverage.
USA Today
26-07-2025
- Politics
- USA Today
USAID analysis found no evidence of massive Hamas theft of Gaza aid
WASHINGTON, July 25 (Reuters) - An internal U.S. government analysis found no evidence of systematic theft by the Palestinian militant group Hamas of U.S.-funded humanitarian supplies, challenging the main rationale that Israel and the U.S. give for backing a new armed private aid operation. The analysis, which has not been previously reported, was conducted by a bureau within the U.S. Agency for International Development and completed in late June. It examined 156 incidents of theft or loss of U.S.-funded supplies reported by U.S. aid partner organizations between October 2023 and this May. It found 'no reports alleging Hamas' benefited from U.S.-funded supplies, according to a slide presentation of the findings seen by Reuters. A State Department spokesperson disputed the findings, saying there is video evidence of Hamas looting aid, but provided no such videos. The spokesperson also accused traditional humanitarian groups of covering up "aid corruption." A White House spokesperson, Anna Kelly, questioned the existence of the analysis, saying no State Department official had seen it and that it "was likely produced by a deep state operative" seeking to discredit President Donald Trump's "humanitarian agenda." The findings were shared with the USAID's inspector general's office and State Department officials involved in Middle East policy, said two sources familiar with the matter, and come as dire food shortages deepen in the devastated enclave. Israel says it is committed to allowing in aid but must control it to prevent it from being stolen by Hamas, which it blames for the crisis. The U.N. World Food Program says nearly a quarter of Gaza's 2.1 million Palestinians face famine-like conditions, thousands are suffering acute malnutrition, and the World Health Organization and doctors in the enclave report starvation deaths of children and others. The U.N. also estimates that Israeli forces have killed more than 1,000 people seeking food supplies, the majority near the militarized distribution sites of the Gaza Humanitarian Foundation (GHF), the new private aid group that uses a for-profit U.S. logistics firm run by a former CIA officer and armed U.S. military veterans. The study was conducted by the Bureau of Humanitarian Assistance (BHA) of USAID, which was the largest funder of assistance to Gaza before the Trump administration froze all U.S. foreign aid in January, terminating thousands of programs. It has also begun dismantling USAID, whose functions have been folded into the State Department. The analysis found that at least 44 of the 156 incidents where aid supplies were reported stolen or lost were 'either directly or indirectly' due to Israeli military actions, according to the briefing slides. Israel's military did not respond to questions about those findings. The study noted a limitation: because Palestinians who receive aid cannot be vetted, it was possible that U.S.-funded supplies went to administrative officials of Hamas, the Islamist rulers of Gaza. One source familiar with the study also cautioned that the absence of reports of widespread aid diversion by Hamas 'does not mean that diversion has not occurred.' The war in Gaza began after Hamas attacked Israel in October 2023, killing 1,200 people and capturing 251 hostages, according to Israeli tallies. Nearly 60,000 Palestinians have been killed since the Israeli assault began, according to Palestinian health officials. Israel says Hamas diverts humanitarian aid Israel, which controls access to Gaza, has said that Hamas steals food supplies from U.N. and other organizations to use to control the civilian population and boost its finances, including by jacking up the prices of the goods and reselling them to civilians. Asked about the USAID report, the Israeli military told Reuters that its allegations are based on intelligence reports that Hamas militants seized cargoes by "both covertly and overtly" embedding themselves on aid trucks. Those reports also show that Hamas has diverted up to 25% of aid supplies to its fighters or sold them to civilians, the Israeli military said, adding that GHF has ended the militants' control of aid by distributing it directly to civilians. Hamas denies the allegations. A Hamas security official said that Israel has killed more than 800 Hamas-affiliated police and security guards trying to protect aid vehicles and convoy routes. Their missions were coordinated with the U.N. Reuters could not independently verify the claims by Hamas and Israel, which has not made public proof that the militants have systematically stolen aid. GHF also accuses Hamas of massive aid theft in defending its distribution model. The U.N. and other groups have rejected calls by GHF, Israel and the U.S. to cooperate with the foundation, saying it violates international humanitarian principles of neutrality. In response to a request for comment, GHF referred Reuters to a July 2 Washington Post article that quoted an unidentified Gazan and anonymous Israeli officials as saying Hamas profited from the sales and taxing of pilfered humanitarian aid. Aids groups required to report losses The 156 reports of theft or losses of supplies reviewed by BHA were filed by U.N. agencies and other humanitarian groups working in Gaza as a condition of receiving U.S. aid funds. The second source familiar with the matter said that after receiving reports of U.S.-funded aid thefts or losses, USAID staff followed up with partner organizations to try to determine if there was Hamas involvement. Those organizations also would "redirect or pause" aid distributions if they learned that Hamas was in the vicinity, the source said. Aid organizations working in Gaza also are required to vet their personnel, sub-contractors and suppliers for ties to extremist groups before receiving U.S. funds, a condition that the State Department waived in approving $30 million for GHF last month. The slide presentation noted that USAID partners tended to over-report aid diversion and theft by groups sanctioned or designated by the U.S. as foreign terrorist organizations - such as Hamas and Palestinian Islamic Jihad - because they want to avoid losing U.S. funding. Of the 156 incidents of loss or theft reported, 63 were attributed to unknown perpetrators, 35 to armed actors, 25 to unarmed people, 11 directly to Israeli military action, 11 to corrupt subcontractors, five to aid group personnel 'engaging in corrupt activities,' and six to 'others," a category that accounted for 'commodities stolen in unknown circumstances,' according to the slide presentation. The armed actors 'included gangs and other miscellaneous individuals who may have had weapons,' said a slide. Another slide said "a review of all 156 incidents found no affiliations with" U.S.-designated foreign terrorist organizations, of which Hamas is one. 'The majority of incidents could not be definitively attributed to a specific actor,' said another slide. 'Partners often largely discovered the commodities had been stolen in transit without identifying the perpetrator.' It is possible there were classified intelligence reports on Hamas aid thefts, but BHA staff lost access to classified systems in the dismantlement of USAID, said a slide. However, a source familiar with U.S. intelligence assessments told Reuters that they knew of no U.S. intelligence reports detailing Hamas aid diversions and that Washington was relying on Israeli reports. The BHA analysis found that the Israeli military 'directly or indirectly caused' a total of 44 incidents in which U.S.-funded aid was lost or stolen. Those included the 11 attributed to direct Israeli military actions, such as airstrikes or orders to Palestinians to evacuate areas of the war-torn enclave. Losses indirectly attributed to Israeli military included cases where they compelled aid groups to use delivery routes with high risks of theft or looting, ignoring requests for alternative routes, the analysis said. (Reporting by Jonathan Landay; Additional reporting by Maayan Lubell in Jerusalem; Editing by Don Durfee and Claudia Parsons)
Khaleej Times
20-05-2025
- Business
- Khaleej Times
Global Islamic finance assets to surpass $7.5 trillion by 2028
Global Islamic finance assets will reach $7.5 trillion by 2028, up from $5.5 trillion in 2024, reflecting the rapid expansion and growing relevance of Shariah-compliant finance in global markets, a report showed on Monday. Standard Chartered unveiled today its comprehensive report on Islamic banking titled 'Islamic Banking for Financial Institutions: Unlocking Growth Amidst Global Shifts.' In 2024, the Islamic finance industry surpassed a major milestone, reaching $5 trillion in global assets. This represents a 12 per cent rise from 2023 and a 43 per cent increase from 2020. Islamic banking is the largest contributor to the Islamic finance industry and remains the engine of growth, accounting for over 70 per cent of total Islamic finance assets. Islamic Banking assets are expected to grow from $4 trillion in 2024 to $5.2 trillion by 2028, the report said. In the early years of Islamic finance, adoption was limited to a handful of markets. Now, a network of over 1,980 Islamic financial institutions deliver Islamic finance products and solutions across more than 90 markets worldwide. Yet despite this expansive market reach, 80% of industry assets remain concentrated in five markets: Iran, Saudi Arabia, Malaysia, the UAE and Kuwait. 'The diversification of assets outside of these markets will depend on how the broader community responds to challenges and seizes opportunities in the coming years. Such challenges and opportunities will be both internal to the industry, and at a regional and global socioeconomic level,' the report said. Meanwhile, the sukuk market is set to rise from $971 billion to nearly $1.5 trillion over the same period. Sukuk issuance remains concentrated in the Gulf Cooperation Council (GCC), Southeast Asia, Türkiye, and Pakistan. However, we have seen Egypt, the Philippines, and Kenya emerge with more corporate and sovereign issues in recent years. Sukuk has increasingly been attracting a wider range of buyers, proving popular with non-Muslim investors, which has helped to narrow a notable gap in demand and supply. Sukuk is expected to form a more prominent portion of assets in the Islamic finance industry in the future, as demand for Shariah-compliant financial instruments grows. Khurram Hilal, CEO, Group Islamic Banking, Standard Chartered said: 'Islamic finance is entering a new era that is defined by scale, sustainability, and strategic integration. A 36 per cent projected increase in assets reflects the sector's strong fundamentals and global appetite for ethical and inclusive finance. At Standard Chartered, we are proud to support this evolution through tailored, Shariah-compliant solutions in over 25 markets.' The report notes persistent challenges in the sector. The ambitions of both Islamic financial institutions and governments to drive the industry further cannot be fully realised without various key developments, particularly in the standardisation of regulatory and legal frameworks, and the wider availability of Islamic risk management and liquidity tools. 'This inflection point brings multiple opportunities. The financial institutions that lean quickly into innovation and emerging trends will be likely to secure first-mover advantages. There is also significant opportunity to be seized by deepening alignment with sustainability, ESG, and ethical finance,' the report said. Khurram concluded: 'Fostering innovation, strengthened market connectivity, and an elevated focus on sustainability will unlock the greatest opportunities in the future of Islamic finance. We aim to play a pivotal role in this future, collaborating, adapting, and delivering value to our clients and communities globally.'
