Speaking to USA Today in an exclusive telephone interview, Vance said he felt “extremely confident” that the US would not be talking about its involvement in Iran “even a year down the road.”

“I think that we’re going to be successful,” Vance told USA Today.

“If this diplomacy ultimately falls apart, then the president has further tools at his disposal. But so long as we keep this thing anchored to the core mission — prevent Iran from having a nuclear weapon — it’s not going to become a quagmire.”

The armed conflict — triggered by the joint US-Israeli strikes on Iran on February 28 — hit its 100-day mark this week. Since April, the war has been in a ceasefire that US officials, including Vance, have sought with limited results to advance to a comprehensive peace agreement.

Trump has repeatedly signalled that a deal is close, but negotiations have hit repeated deadlocks. Recent exchanges of fire between Iran and Israel had raised fears the ceasefire was fraying.

Vance, an Iraq war veteran and the administration’s most vocal skeptic of American military engagement abroad, did not rule out intensified US military action if diplomacy fails.

The vice president’s remarks came during a telephone interview tied to the release of his new book, Communion: Finding My Way Back to Faith, due for release June 16, a follow-up to his bestselling memoir Hillbilly Elegy

Convened by the AlBaraka Forum for Islamic Economy under the leadership of Sheikh Yousef Khalawi and held with the support of the Presidency of the Republic of Turkiye, the summit brought together an influential gathering of policymakers, regulators, central bank governors, investors, scholars and business leaders from across the world.

The summit featured participation from President Recep Tayyip Erdogan, Vice President Cevdet Yılmaz, central bank governors, senior policymakers and economic leaders from Turkiye, Malaysia, Palestine and other key markets, reflecting the growing international importance of the forum as a platform for shaping conversations around the future of economic development.

Against this backdrop, Sidra Iqbal led a featured discussion titled “Raising the Quality of Capital: From Follower Counts to Financial Value,” examining how trust, credibility, expertise, communities and digital influence are increasingly being recognised as strategic forms of capital in a digitally connected economy.

The session explored the growing relevance of the creator economy and trust economy and considered how these developments intersect with broader conversations around ethical finance, stewardship, sustainable development and long-term value creation.

The inclusion of a discussion on digital influence, trust and creator-led value creation alongside conversations on finance, capital markets and economic development reflected a growing recognition that future economies will increasingly be shaped by both financial and intangible forms of capital.

Speaking during the discussion, Sidra Iqbal noted that some of the most valuable assets being created today do not exist on traditional balance sheets but are built through trust, credibility, expertise and communities.

She argued that future models of economic value will require a broader understanding of capital — one that incorporates not only financial assets, but also the relationships, influence and trust that drive innovation, engagement and long-term growth.

As host of Aaj News’ flagship daytime television show, Aaj Pakistan, Sidra Iqbal has spent the last seven years facilitating conversations on economic development, governance, leadership and future-facing trends.

Her participation also highlighted Pakistan’s contribution to emerging global conversations on the future of capital and economic development, while underscoring the increasing importance of trust and digital value creation in shaping the next generation of economic opportunity.

“I have just been informed by our Great Military ​that last night the Iranians shot down one of our highly ⁠sophisticated Apache Helicopters while patrolling over the Strait of Hormuz,” Trump wrote in a ​social media post.

He said the two US pilots involved in the incident were both safe ​and uninjured.

“Nevertheless, the United States must, of necessity, respond to this attack,” he added.

His remarks threw into deeper uncertainty the prospects for a truce announced on April 8 in the war in the Gulf.

On ​Monday, Israel and Iran said they would halt attacks on each other after an ​appeal by Trump to end their first direct exchanges of fire since April, but Tehran warned it ‌would ⁠resume hostilities if Israel continued to attack its ally Hezbollah in Lebanon.

Monday’s flare-up added further strain to efforts to broker a peace deal to end the wider Middle East war and reopen the Strait of Hormuz.

In remarks earlier on Tuesday about the downing of the ​Apache helicopter, Trump had ​said the two US ⁠helicopter crew members were “fine” following their rescue by a US Navy drone, but he had made no comment about what brought the Apache ​down.

A US Navy surface drone found and rescued the two crew, ​the US ⁠military told Reuters. US Central Command said the AH-64 Apache went down at around 3:00 a.m. on Tuesday (2300 GMT on Monday).

ISRAEL HITS LEBANON’S TYRE PORT CITY, KILLING EIGHT

On Monday, Israel and Iran said they would halt attacks on each other after an appeal by Trump to end their first direct ​exchanges of fire since April, but Tehran warned it would resume hostilities if Israel continued to attack its ally Hezbollah in Lebanon.

In Tehran, two Iranian air defence personnel killed in Israeli strikes on Monday were due ​to be buried on Tuesday afternoon, Iran’s military said. No deaths were reported in Israel after the Iranian strikes.

In a parallel conflict, Israel struck the historic port city of Tyre in southern Lebanon on Tuesday, killing at least eight people. It was the deadliest strike on the city since fighting erupted in Lebanon in early March, when Hezbollah launched rockets at Israel in support of Tehran after Israel and the United States began their war against Iran.

Israel had issued an evacuation order ​for the city earlier on Tuesday. Residents fled and civil defence teams transported elderly residents into temporary shelters, state media reported. The eight victims were killed in a single strike on the city’s eastern edge, ​Lebanon’s health ministry said.

A video verified by Reuters showed debris strewn across a road at the site of the attack.

Israel’s refusal to end its campaign in Lebanon, as Iran demands, has hindered Trump’s efforts to extend a tenuous ceasefire ‌in the ⁠wider U.S.-Israeli war with Iran into a durable settlement.

Trump told reporters in earlier remarks he might have “an idea” for an Iran deal within a few days, without elaborating. The Republican president, struggling with record-low approval ratings as November’s midterm elections approach, has often hinted at an imminent deal with Tehran, but none has yet materialised.

US and Israeli officials said Trump and Israeli Prime Minister Benjamin Netanyahu had spoken on Monday.

In an interview with Axios, Trump said he had warned the Israeli leader not to return to war with Iran: “I said, ‘Bibi, you better be careful, or you will be on your own very soon.’”

ISRAEL’S ZAMIR SAYS MILITARY READY TO STRIKE ​IRAN AGAIN

However, Israel’s military chief Eyal Zamir said ​on Tuesday that the attack Israel carried out ⁠against Iran the previous day was “in preparation for a much more significant and heavy blow”.

“We are prepared to return and deliver another severe and deep strike against Iran,” he said during a visit to training exercises in northern Israel.

Tehran has long said any peace deal with Washington depends in part on an end to ​fighting in Lebanon, which Israel invaded in March in pursuit of Hezbollah fighters who had fired across the border.

In northern Israel on Tuesday, Israeli troops operating ​in the Ramim Ridge area ⁠close to Lebanon’s border killed one person in an incident in which they returned fire, the military said.

Israel has never halted its Lebanon campaign, which has killed thousands of people, saying the conflict should be treated separately from any US-Iranian ceasefire. Hezbollah has also continued its attacks.

At the same time, Tehran has continued to block most shipping through the Strait of Hormuz, which before the war carried a fifth of the world’s crude oil and ⁠liquefied natural gas. ​Washington has imposed its own blockade of Iranian ports.

US Energy Secretary Chris Wright said on Tuesday that ship traffic through Hormuz ​is rising “very meaningfully”, but added it would take many months to get back to normal flows of energy once the war is over.

Trump has said any peace deal must ensure Iran cannot develop a nuclear weapon. Iran’s demands include the lifting of international sanctions, ​the release of billions of dollars in frozen assets and recognition of its control of the strait.

India and China, the world’s two most populous nations, are intense rivals competing for strategic influence across South Asia. Ties have thawed since a 2020 border clash, but their 3,500-kilometre (2,200-mile) frontier has been a perennial source of tension.

The tunnel forms part of a broader infrastructure push, creating a link with roads and railways that will allow trade, troops and supplies to move year-round from India’s sweltering lowland plains to the soaring icy border zones.

“This is not just a tunnel but a lifeline,” said India’s minister of roads, Nitin Gadkari, during a breakthrough ceremony on Tuesday at the high-altitude tunnel, which is part of a route designed to rapidly improve connectivity between Srinagar, the main city in Indian occupied Kashmir, and Leh, Ladakh’s key city.

At present, road travel between the cities is blocked during winter due to heavy snowfall, which can often rise higher than a truck.

Diggers cut through the final stretch of rock in a milestone in the creation of the 13.14-kilometre (8.17-mile) Zojila tunnel, which will connect two sides otherwise cut off by snow during the bitter winters.

More than 3,000 workers have been involved since 2020 in excavating the tunnel, which passes beneath the 3,528-metre (11,575-foot) Zojila Pass.

Gadkari pressed a button to remotely trigger the final blast, connecting tunnels dug from both sides and creating what will be India’s longest road tunnel.

“We have worked for this tunnel day and night in challenging weather conditions, and completed it without any accident,” project engineer Manmohan Singh told AFP.

The project is part of a broader network of four major tunnels, including the 6.5-kilometre Sonamarg tunnel, a $712-million initiative expected to be fully operational by 2028.

India has also developed a $3.9-billion railway line connecting the lowland plains with occupied Kashmir, including the construction of the Chenab Rail Bridge, currently the highest of its kind in the world.

Prime Minister Narendra Modi opened the railway route in June 2025.

The 272-kilometre railway begins in the garrison city of Udhampur, headquarters of the army’s northern command, and runs through Srinagar.

Muslim-majority Kashmir has been divided between India and Pakistan since their independence from British rule in 1947, and both claim the Himalayan territory in full.

People of occupied Kashmir demand merger with Pakistan.

Brent futures fell $3.40, or 3.6%, to $90.85 a barrel at 10:28 a.m. EDT (1428 GMT), while US West Texas Intermediate (WTI) crude slid $3.71, or 4.1%, to $87.59.

That ​put Brent on track for its lowest close since April 17 and WTI on track for its ​lowest close since May 29.

Israel and Iran halted direct attacks on each other on ⁠Monday after an appeal by Trump for them to stop, but Tehran said it would resume hostilities if ​Israel continued to attack its ally, the Hezbollah militia in Lebanon.

Iran, however, has so far held back from attacking ​even after Israel struck the historic port city of Tyre in southern Lebanon on Tuesday, killing at least eight people.

“The oil market is drifting lower … as the latest shooting match between Israel and Iran was diffused in favour of a ceasefire and as Trump ​continues to talk the market lower by suggesting that an end of the war with Iran could be reached ​in 2-3 days with negotiations in their final stages,” analysts at energy advisory firm Ritterbusch and Associates said in a note.

Iran ‌has continued ⁠to block most shipping through the Strait of Hormuz, which, before the war, carried a fifth of the world’s crude oil and liquefied natural gas. Washington has imposed its own blockade of Iranian ports.

Elsewhere around the world, China’s May crude imports slumped 29% to their lowest levels in eight years, extending a sharp decline in the world’s ​largest oil importer that is ​helping keep a lid ⁠on global oil prices.

WORLD SUPPLY, DEMAND AND INVENTORIES

The oil market awaited global oil supply and demand data from the US Energy Information Administration (EIA) on Wednesday and weekly storage ​reports from the American Petroleum Institute (API) trade group later on Tuesday.

Analysts estimated energy firms ​pulled 3.4 ⁠million barrels of crude from US storage during the week ended June 5.

If correct, that would be the first time energy firms pulled crude out of storage for seven weeks in a row since January 2025. It compares with a ⁠decrease ​of 3.6 million barrels in the same week last year and an ​average decline of 0.7 million barrels over the past five years (2021 to 2025).

Acting on intelligence about their presence in the area, security forces moved to intercept the terrorists. The operation foiled a planned attack on nearby police stations and banks, ISPR said.

A heavy exchange of fire ensued as forces blocked the militants’ movement. Fourteen Indian-backed terrorists were killed, and several others were wounded. Four vehicles and explosives used by the group were also destroyed.

Lance Havildar Abbas embraced martyrdom during the operation while fighting with valour, ISPR said.

A search operation is underway in the area to apprehend any remaining terrorists.

President, interior minister commend security forces

President Asif Ali Zardari and Interior Minister Mohsin Naqvi have praised the security forces for the successful operation in Basima, calling it a significant achievement for national security.

In a statement, President Zardari said foiling the terrorists’ designs was clear proof of state institutions’ capability. “Actions taken against anti-state elements are a guarantee of national security,” he said.

Interior Minister Naqvi also lauded the forces, saying the elimination of the terrorists reflected the professional competence of the security agencies.

He said the timely and effective operation had thwarted their malicious aims and would help consolidate peace and stability in the country.

Exercising his right of reply at a UN Security Council discussion on Afghanistan, Pakistani Ambassador Asim Iftikhar Ahmad said the strikes, including those conducted in March, hit drone storage facilities, technical support infrastructure, and ammunition depots.

“Those strikes were precise, deliberate, and professional,” he said, adding that no hospital, drug rehabilitation centre, or civilian facility was targeted.

India’s statement was delivered by Ambassador Parvathaneni Harish, while Naseer Ahmad Faiq — an appointee of the former Afghan government, as the UN has not recognised the Taliban — spoke for Afghanistan.

Ambassador Asim Ahmad dismissed Faiq, saying he “does not represent anyone but himself.”

The Indian envoy had highlighted New Delhi’s humanitarian and capacity-building work in Afghanistan and noted that the Pakistani strikes were carried out during Ramazan.

In response, Ambassador Asim Ahmad accused India of using development and humanitarian assistance as cover to destabilise Pakistan through terrorist proxies, including Tehrik-e-Taliban Pakistan (TTP) and the Balochistan Liberation Army (BLA).

He said the international community’s key expectations of the Taliban regime — now in its fifth year — included inclusive governance, human rights, women’s and girls’ rights, and a commitment that Afghan soil would not be used for terrorism. He noted that the Security Council discussion had raised concerns over the Taliban’s non-compliance with those pledges.

Ambassador Asim said it was “amusing” to hear of India’s “newfound love for the Taliban,” calling the shift a reaction to Pakistan’s successful counterterrorism operations against camps inside Afghanistan backed by New Delhi.

“Not once did the Indian envoy condemn the TTP or the BLA — Fitna al Hindustan — who have been targeting innocent Pakistanis. We are not surprised at all,” he said.

“It must be discomforting for India to see its terrorist infrastructure being dismantled and destroyed in Afghanistan by Pakistan’s valiant security forces, who will continue to do whatever is necessary for our self-defence.”

India’s invocation of international law was “laughable,” he said. “It is, in fact, a serial violator of international law.”

The envoy said India had been in illegal occupation of Jammu and Kashmir for decades, committing what he described as grave and systematic human rights violations corroborated by the international community.

“While we were talking of violations of human rights, of women’s rights and girls’ rights in Afghanistan, how can we be quiet about violations — these grave, persistent, systematic violations of human rights which have been reported and corroborated by the international community.”

He also accused India of persecuting minorities — including Muslims, Christians, and Sikhs — and said the country’s national media was under the control of the BJP government.

“And it is a state sponsor of terrorism — not just in Indian illegally occupied Jammu and Kashmir or in Pakistan using the Afghan soil, but it is openly aiding, abetting and financing terrorism elsewhere,” he said.

“Extraterritorial assassinations — the international community is now well aware of it in North America, in Canada and the US.”

Ambassador Asim Ahmad further said India was in serious breach of UN Security Council resolutions on Kashmir and had violated the Indus Waters Treaty by declaring it in abeyance “without any reason, justification, and in complete breach of the treaty’s provisions and international law.”

On India’s outreach to Afghan cricketers, he said New Delhi had a poor record of promoting sportsmanship — citing the refusal of Indian players and officials to shake hands, as seen during the Asian Cup.

Pakistan, he concluded, was fully aware of India’s “motives and evil designs” and would not allow it to threaten its national security.

“We have stopped them before, and we will do it again, and we will do it always.”

During the meeting, matters of mutual interest, the regional security environment, and avenues for enhanced bilateral defence and security cooperation were discussed. Both dignitaries expressed satisfaction over the longstanding brotherly relations between Pakistan and Bahrain and underscored the importance of further strengthening military-to-military collaboration.

Earlier, the Commander Bahrain National Guard also called on Admiral Naveed Ashraf, NI, NI (M), T Bt, Chief of the Naval Staff and Air Chief Marshal Zaheer Ahmed Baber Sidhu, NI (M), HJ, Chief of the Air Staff separately.

At Naval Headquarters, the meeting focused on bilateral defence collaboration and regional security dynamics. The Commander of the Bahrain National Guard commended Pakistan Navy’s role in advancing cooperative maritime security across the region and expressed appreciation for its role as a regional maritime security stabiliser.

During the meeting at Air Headquarters, the Chief of the Air Staff highlighted Pakistan Air Force’s modernisation efforts, including capability enhancement, infrastructure development, indigenisation, and advanced training reforms.

Discussions focused on emerging defence technologies, including drones, artificial intelligence, autonomous systems, advanced sensors, and digital innovation, as well as evolving air defence challenges and integrated defence architectures.

The Bahraini commander appreciated the professionalism, operational readiness, and contributions of Pakistan’s Armed Forces towards regional peace and stability, and praised modernisation initiatives and indigenous capabilities, expressing interest in further cooperation in training, emerging technologies, and capacity-building initiatives.

The visit reflects the defence partnership between Pakistan and Bahrain and is expected to further advance bilateral military cooperation.

Chairing a high-level review meeting, the prime minister instructed officials to ensure complete transparency throughout the privatisation process and put in place a robust regulatory framework immediately after the transition of DISCOs to private ownership.

During a briefing on progress, officials informed the meeting that Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) would be privatised in the first phase. Expressions of Interest (EOIs) for the transactions have already been published in national and international newspapers.

The meeting was told that the Cabinet Committee on Privatisation has approved the transaction structure for the sale of the three power distribution companies.

Officials further informed the prime minister that international roadshows will begin this month to attract potential investors from Saudi Arabia, Turkiye and China.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb and Sardar Awais Leghari, Adviser to the Prime Minister Muhammad Ali, Minister of State Bilal Azhar Kayani, and senior government officials.

 “Time, date and venue will be shared in due course,” the government said.

Earlier, Business Recorder reported that the government is likely to postpone the presentation of the 2026–27 federal budget from June 10 to June 12, with a final decision on the proposed change expected in a day or two.

Speaking to the media at Parliament House on Monday, Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal said that several key budget-related matters are yet to be finalised, prompting discussions on revising the budget presentation schedule.

He said discussions were still underway and that limited time, coupled with the approaching month of Muharram, had complicated the process. “Many aspects of the budget are still being finalised,” he said, adding that no final decision had yet been taken on whether the presentation date would be changed.

“All attacks must stop immediately. The ceasefires in Lebanon, Iran & Gaza must be fully respected,” he said in a post on ​X.

Israel struck targets in Iran on Monday for the first ​time since a ceasefire in April, after Iran fired ⁠missiles at Israel in what Tehran said was retaliation for ​Israeli strikes on Lebanon’s capital.

Israel and Iran both called a halt ​to the exchange on Monday shortly after Trump told them to stop shooting, although they each left the door open to a possible resumption.

The most direct ​confrontation between the two countries since April threatened to wreck ​Washington’s efforts to reach an agreement with Tehran to end their more than ‌3-month-old ⁠war.

Guterres also said Israel should open crossings it has closed into Gaza to allow for the flow of humanitarian aid.

“I’m also deeply concerned by Israel’s decision to close crossings into Gaza & reiterate my ​call for the ​immediate reopening of ⁠all crossings to ensure the rapid, safe & unhindered passage of humanitarian assistance at scale throughout Gaza,” ​he said.

A US-brokered ceasefire between Israel and Hamas has been in ​place ⁠since October 2025, which includes guarantees of increased aid.

Israel and Hamas have repeatedly accused each other of violating the truce. Israeli strikes have ⁠killed ​more than 950 people since the truce, ​health officials say, while Israel says four soldiers were killed by militants during the ​same period.

Weather officials said the presence of sea breezes could make conditions feel significantly hotter, with the perceived temperature expected to be 8°C to 10°C higher than the actual reading.

On Tuesday, the city’s maximum temperature was recorded at 36.5°C. However, humidity levels reached 62%, pushing the heat index to around 48°C and intensifying discomfort for residents.

The PMD said northwesterly winds continued to blow across the city at speeds ranging between 22 and 25 kilometres per hour.

Health experts have urged citizens, particularly children, women, the elderly and people with underlying health conditions, to take extra precautions during the hot spell.

Residents have been advised to avoid unnecessary exposure to direct sunlight between 10.00 a.m. and 4.00 p.m. and to maintain adequate hydration and electrolyte intake to prevent heat-related illnesses.

PCB Chairman Mohsin Naqvi will chair the sessions on Friday and Saturday, sources said.

The board has not released a formal agenda, but media reports indicate discussions will cover the Test captaincy, coaching staff, and broader structural reforms.

Among the changes under consideration, former captain Younis Khan is reportedly a leading candidate for the role of Test team head coach. He may also be inducted into the national selection committee.

Former captain Mohammad Hafeez is being considered for the position of Director of International Cricket, with possible inclusion in the selection panel as well.

Reports suggest current Test captain Shan Masood and head coach Sarfaraz Ahmed could be relieved of their duties.

Salman Ali Agha is said to be the frontrunner to succeed Masood as Test captain.

Sarfaraz, according to reports, is likely to remain associated with Pakistan cricket in some capacity, potentially with Pakistan Shaheens.

Aisha Fatima, a Grade 11 student, had disappeared four days ago. Her family filed a missing persons report at Satellite Town police station shortly after.

She was brought unconscious to a private hospital by unidentified men who fled the scene, according to police sources.

Due to her critical condition, she was transferred to District Headquarters (DHQ) Hospital Jhang, where she later died during treatment.

CCTV footage obtained during the investigation showed the victim being brought to the private hospital in a critical state.

Based on the footage and other evidence, police arrested three suspects — identified as Haseeb, Amish, and Hassan — and seized the vehicle used in the incident. A manhunt is underway for a fourth suspect, Khalil.

Police said initial evidence and circumstances suggest the possibility of gang rape, but a final determination will be made after medical, forensic, and other investigative reports are received.

The victim’s father has appealed to Punjab Chief Minister Maryam Nawaz for justice.

The price per tola climbed Rs2,830 to Rs455,063, while 10-gram gold rose Rs2,547 to Rs389,534, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The gains reversed Monday’s decline, when the per-tola rate had shed Rs3,094 to close at Rs452,222.

Globally, gold rose $28 to $4,326 per ounce, inclusive of a $20 premium.

Silver also edged higher, adding Rs141 to trade at Rs7,314 per tola.

This was disclosed by Federal Minister for Energy, Sardar Awais Ahmed Khan Leghari, while delivering a keynote address at Webinar-1, titled “Pakistan-Russia Bilateral Relationship at the cusp of shifting global order,” highlighting a highly positive and pragmatic trajectory in bilateral relations over the past two decades.

A key focus of the address was regional connectivity, with Pakistan signalling its intent to join the INSTC, read an official statement.

The INSTC is a 7,200-kilometre multimodal transit network combining ship, rail, and road routes designed to move freight between India, Iran, Azerbaijan, Russia, Central Asia, and Northern Europe.

During the webinar, Leghari welcomed the statement by Russian Deputy Prime Minister Alexey Overchuk regarding connecting the INSTC with Pakistan’s Gwadar Port, which would bridge a crucial link in China’s Belt and Road Initiative.

Addressing the structural transformations in global politics, the minister noted that residual distrust from the Soviet era has faded, elevating the partnership from an “unfriendly country” to a “trusted friend” across sectors, including trade, energy, defence, and technology.

This diplomatic momentum is driven by high-level leadership, underscored by four recent meetings between Prime Minister Muhammad Shehbaz Sharif and Russian President Vladimir Putin, he said.

As Co-Chairman of the Russia-Pakistan Intergovernmental Commission (IGC), the minister emphasised regular engagements with his counterpart, Russian Energy Minister Sergey Tsivilev, describing the IGC as the foundation of their multi-faceted ties.

Bilateral cooperation has expanded through structured frameworks, including consultations on security, strategic stability, and counter-terrorism, alongside mutual alignment at the United Nations and the Shanghai Cooperation Organisation (SCO) to advocate for an inclusive, multipolar international order, he said.

Leghari also highlighted that Russian leadership has praised Pakistan’s recent diplomatic role in mitigating conflicts between Iran and the United States, further validating President Putin’s acknowledgement of Pakistan as a genuine global stakeholder.

To unlock the substantial potential for bilateral trade and address structural hurdles like payment mechanisms, both nations have agreed to sign the Program of Economic Cooperation between the Russian Federation and Pakistan for the Period until 2030, he said.

Furthermore, the recent signing of the long-pending Russia-Pakistan Readmission Agreement in Bishkek will ease visa regimes, facilitating business travel and people-to-people exchanges.

Concluding his remarks, Leghari reiterated that Pakistan-Russia relations are a vital component of broader Eurasian economic integration and regional stability.

A US Navy surface drone found and rescued the two crew from the waters of the strait, the US military’s Central Command told Reuters.

The pair were rescued within about two hours and were in stable condition, Centcom said in a statement.

It was not immediately clear whether the Apache had been shot down by Iranian fire, experienced mechanical failure, or encountered some other problem, the New York Times report said.

“The ​pilots are fine,” Trump said, speaking on the runway at New York’s John F. Kennedy International Airport before returning to ⁠Washington, DC “Nobody injured.”

Iran and Israel stop attacks on each other

Iran and Israel said on Monday that they had halted attacks on each other after an appeal ​from Trump, settling back into a tenuous ceasefire announced on April 8.

Tehran warned, however, that it would resume hostilities if Israel continued to hit Iran’s Hezbollah allies in Lebanon. On ​Tuesday, the Israeli military issued an evacuation order for the Lebanese city of Tyre ahead of possible strikes.

The order included the Christian quarter, an area previously excluded from evacuation warnings. The military said Hezbollah militants were operating there, without providing evidence.

Israel’s campaign against Hezbollah in Lebanon helped trigger the latest missile exchanges between Iran and Israel — the most confrontation since ​the April ceasefire — complicating Trump’s push to end a war that the US and Israel launched on February 28.

Trump also told reporters he might have “an idea” ​for an Iran deal within a few days, without elaborating. The Republican president, struggling with record-low approval ratings as November’s midterm elections approach, has often hinted at an imminent ‌deal with ⁠Tehran, but none has yet materialised.

Iran had fired missiles towards Israeli territory late on Sunday, calling the strikes retaliation for attacks on the Iranian-backed Hezbollah militia on the outskirts of Beirut.

Israel then hit Iranian air defence systems and a petrochemical plant that it said was used to produce ballistic missiles. Iran’s Islamic Revolutionary Guard Corps said it retaliated with a strike aimed at a similar Israeli plant in the city of Haifa. No deaths were reported by authorities on either ​side.

Trump tells Netanyahu to ‘Be careful’

US and Israeli ​officials said Trump and Israeli Prime ⁠Minister Benjamin Netanyahu spoke on Monday.

In an interview with Axios, Trump said he had warned the Israeli leader not to return to war with Iran: “I said, ’Bibi, you better be careful, or you will be on your own very soon.”

Tehran has ​long said any peace deal with the US depends in part on an end to fighting in Lebanon, which ​Israel invaded in March ⁠in pursuit of Hezbollah fighters who had fired across the border.

Israel has never halted its Lebanon campaign, which has killed thousands of people, saying the conflict should be treated separately from any US-Iranian ceasefire. Hezbollah has also continued its attacks.

At the same time, Tehran has continued to block most shipping through the Strait of Hormuz, which, ⁠before the war, ​carried a fifth of the world’s crude oil and liquefied natural gas. Washington has imposed ​its own blockade of Iranian ports.

Trump has said any peace deal must ensure Iran cannot develop a nuclear weapon. Iran’s demands include the lifting of international sanctions, the release of billions of dollars ​in frozen assets and recognition of its control of the strait.

According to a report by Semafor, Neom’s budget includes 60 billion Saudi riyals ($16 billion) in anticipated payments to contractors linked to the termination of long-term agreements following a major scaling back of the project.

Launched by Mohammed bin Salman under Saudi Arabia’s Vision 2030 programme, Neom was envisioned as a futuristic development featuring coastal resorts, an industrial zone, a mountain ski destination and the flagship linear city known as The Line.

The Line, originally planned as a 170-kilometre city stretching across the desert, was significantly reduced in scope after rising costs and project delays prompted a strategic review.

The reported termination payments stem from penalty clauses in contracts tied to projects that have been cancelled or downsized.

The move reflects a broader reassessment of Neom’s scale and financial viability as Saudi authorities seek to manage escalating costs.

The Financial Times previously reported that officials were considering a much smaller version of the original vision, while several architects and urban planning experts questioned the feasibility of the project from both economic and planning perspectives.

Neom is estimated to have cost Saudi Arabia around $64 billion so far. The Line alone was previously projected to require an investment of roughly $500 billion.

The project underwent a strategic review after Aiman Al-Mudaifer took over as chief executive last year, leading to restructuring, layoffs and revisions to development plans, according to reports.

The long-awaited update supersedes a list from early 2025 and comes less than a month after President Donald Trump met China’s Xi Jinping on a visit to Beijing, where the two leaders maintained a delicate trade war truce.

China’s foreign ministry said on Tuesday that the list was discriminatory and “unreasonably suppressed” Chinese companies, urging the US to “correct its mistaken practices.”

“China will take necessary measures to firmly safeguard the legitimate rights and interests of Chinese enterprises,” ministry spokesperson Lin Jian told reporters at a briefing.

The list now includes a broad swathe ​of China’s top technology firms, key to advancing Beijing’s military and industrial prowess, reflecting Washington’s security concerns amid intense geopolitical competition between the countries.

In February, when Trump’s trip to China had been pending, the Pentagon briefly posted ​an updated list, known as the 1260H or CMC list, but then quickly withdrew it with little explanation.

The new version released on Monday mirrors the withdrawn February list with the ⁠exception of the inclusion of China’s top memory chipmakers CXMT and YMTC, two companies that had been removed from the short-lived February index to the ire of Washington’s China hawks.

Other companies added include biotech firm WuXi AppTec, AI-driven robotics company ​RoboSense Technology Co Ltd and Unitree, a leading Chinese maker of humanoid and quadruped robots. On June 1, US AI chipmaker Nvidia said it plans to work with Unitree to build robots for researchers.

LISTED FIRMS CONDEMN DECISION, VOW LEGAL CHALLENGE

BYD, the world’s ​largest EV seller, said in a statement to Reuters that it firmly opposed being labelled a military company and would use all “feasible administrative and legal means” to safeguard its rights and interests, adding that the decision harmed “its development achievements in the United States.”

Alibaba said in a statement there was “no basis” for its inclusion on the list. “Alibaba is not a Chinese military company nor part of any military-civil fusion strategy.

We will take all available legal action against attempts to misrepresent our company,“ the e-commerce and tech conglomerate said.

WuXi AppTec responded that its inclusion ​on the list was “incorrect” and said in a statement that it would “take immediate actions to challenge and correct this erroneous designation.”

Search engine and AI giant Baidu “categorically” rejected its inclusion on the list, and in a statement said: “The suggestion that Baidu ​is a military company is entirely baseless. We will not hesitate to use all options available to us to have the company removed from the list.”

CXMT and YMTC did not respond to requests for comment. Neither did RoboSense, Unitree, BOE Technology Group, Tianma Microelectronics, ‌TP-Link Technologies, CALB ⁠Group, EVE Energy, Zhongji Innolight, JA Solar Technology and Trina Solar, all of which appeared in the CMC list for the first time.

Some companies, including two entities owned by Chinese state-owned oil major China National Offshore Oil Corporation (CNOOC) - CNOOC China Ltd and CNOOC International Trading - were removed. However, CNOOC subsidiary China BlueChemical Limited was added, and the department filing noted that CNOOC is directly controlled by China’s government.

REMOVAL FROM LIST IS POSSIBLE

Companies can at times be taken off not because the US determines they aren’t linked to China’s military, but because they no longer operate in the US or because an entity’s name has changed.

The listed firms “qualify for designation as ‘Chinese military companies,’” and operate in the US, the Pentagon said in its filing, ​which is required at least annually under US law.

The ​companies can petition for removal, it added.

House of Representatives ⁠China Select Committee Chair John Moolenaar said the updated list “is a warning to American businesses, all levels of government, and the American people.

These Chinese companies are working with the Chinese military against our national interests.“

The Pentagon also included telecoms equipment maker Baicells, which Reuters reported was under investigation by the FBI and Commerce Department last year.

The company did not immediately ​respond to a request for comment.

US MILITARY BARRED FROM BUYING FROM LISTED COMPANIES

Though the listing does not formally impose sanctions on Chinese firms, under recent US law, the ​Defence Department will be prohibited starting ⁠later this month from contracting directly with companies on the list, and from buying their products or services via third parties beginning in 2027.

Those measures could have material costs for the Chinese firms and their partners.

In filings with Hong Kong’s stock exchange, NIO said it would not be impacted by the procurement restrictions, while Alibaba said the listing would not affect its ability “to conduct business as usual in the US or anywhere in the world.”

Being added to the list also sends a potentially damaging message to ⁠Pentagon suppliers and ​other US government agencies about the US military’s opinion of the firms, some of which have sued the US over their inclusion.

Craig Singleton, a ​China expert at the Foundation for Defence of Democracies think tank in Washington, said the publication of the list served as a post-Trump-Xi summit reality check on the heightened state of US-China competition.

“Washington is no longer treating these as isolated companies. It is treating the entire technology stack as ​strategically contested,” Singleton said.

The reduction was approved following government consent and relates to the quarterly adjustment for the January-March 2026 period, the notification said.

The lower tariff will be applicable for three months, from June through August 2026, and will be reflected in electricity bills during that period.

According to the notification, the quarterly adjustment will apply to electricity consumers nationwide and is expected to provide relief amounting to Rs67.173 billion.

The regulator said the reduction was made under the quarterly adjustment mechanism covering the January-March 2026 period.

“This is despite the ‌fact ⁠that many Iranian football fans, relying on the officially ​announced ​process, ⁠had already made the necessary ​plans to ​attend ⁠the matches,” the FFIRI added in ⁠a ​statement.

The Metropolitan Police said Riley, whose real name was Mark Orabiyi, was found with stab wounds in Silvertown on Friday and was pronounced dead at the scene.

Riley was known as a Grammy-winning songwriter and had worked with several major international artists, including Ellie Goulding and Zendaya, and had also toured with Usher. He had nearly 77,000 monthly listeners on Spotify.

Tributes have poured in from family, friends and figures in the music industry.

His brother, rapper Scribz Riley (Michael Orabiyi), described him as a “friend to many, a mentor, an inspiration, and a light in so many people’s lives,” saying their last conversation was about plans and staying positive.

Artists including Stormzy, Kehlani, Wretch 32, Craig David and Paloma Faith also paid tribute on social media, describing him as a talented and kind individual whose loss is deeply felt.

Riley received a writing credit on the song Lights On from H.E.R.’s self-titled album, which won a Grammy Award in 2019.

Police said a second man in his 20s was also injured in the incident and remains in hospital in a non-life-threatening condition.

Three people have been arrested on suspicion of murder, with one later released on bail, while two others were released without further action.

The source, who asked not to be named, confirmed earlier reports by Italian news agencies and said Ben-Gvir was being investigated ​on suspicion of torture and kidnapping of Italian citizens who were ​among the activists.

If the probe determines charges are warranted, prosecutors ⁠could lodge a formal request for trial.

In response to the Italian ​investigation, Ben-Gvir said in a statement: “I will not shy away from one ​investigation or another and will continue to stand proudly alongside our fighters.”

Israel and Ben-Gvir have faced mounting international criticism after the minister, in late May, released a video showing ​detained Gaza activists kneeling with their hands bound after Israel intercepted the aid ​flotilla in international waters.

Organisers said the 430 activists detained by Israeli police included citizens of ‌Italy ⁠and South Korea.

In a video Ben-Gvir posted on X, officers forced an activist to the ground after she chanted “Free, free Palestine”.

The government of Italian Prime Minister Giorgia Meloni called the treatment of the activists “unacceptable” and summoned ​the Israeli ambassador ​for an ⁠explanation.

Italy subsequently asked the European Union to discuss sanctions against Ben-Gvir, while France has decided to ban Ben-Gvir from its ​territory.

Flotilla organisers say they aimed to break Israel’s blockade ​of Gaza ⁠by delivering humanitarian assistance, something aid bodies say is still in short supply despite a US-brokered ceasefire between Israel and Hamas in place since ⁠October ​2025 that includes guarantees of increased aid.

Israel ​says its naval blockade of Gaza is lawful.

Little is known about the varieties of mangoes worldwide and you will be surprised to know that there are over 2,000 varieties of mangoes that are cultivated globally like Alphonso of India, Tommy Atkins in the USA; Brazil and Mexico considered to be the most common commercial variety globally; and our own Chaunsa and Sindhri.

The list does not stop here; there is also Ataulfo, also known as honey mango from Mexico, and then there is Kent grown in the USA, Peru and Ecuador. These are grown in another part of the world while there is still South East Asia and Australia, which is covered with a golden yellow mango called Nam Dok Mai and then there is Carabao in the Philippines.

The list does not stop here as there is still Kensington pride covering Australia. There is also the most expensive and rare mango in the world, Miyazaki from Japan, also known as “Egg of the sun”. The peak mango season is May through August but because there are so many varieties available in different parts of the world some variety or other of mangoes is available throughout the year.

In Pakistan, the most favoured time when maximum its usage is observed is when the mango season and the holy month of Ramazan fall together, giving the fasting public a chance to taste their favourite fruit during the opening of their fast.

Otherwise, too, when the mangoes are in season they are not only eaten as a fruit but across the globe also form part of daily meals in different ways just as they are popular in sweet and savoury dishes like mango sticky rice in Thailand and mango lassi in Pakistan and Mangonada in Mexico.

In Pakistan, during the mango season, a very popular dish with the Bohra community is ‘Aamrass’, which is part of specially the evening meal in most households. This includes the juice of mangoes, which form the core of this much favoured dish.

The mango is a fruit with a history and references in folklore like the presentation of a mango grove to Buddha himself that he might find rest and shelter in its shade.

So how did this fruit get its name ‘mango’, especially in English- and Spanish-speaking countries? It is presumed that it got this name from Malayam Manna, which the Portuguese adopted as manga when they came to Kerala around 1498 for the business of spices. It is presumed that they were introduced late in the western hemisphere because of difficulty in transporting their seeds, which resulted in their introduction as late as the 1700 when the first seeds were planted in Brazil and they reached West Indies around 1740.

Most of this information is available in Encyclopaedia Britannica and has been recently updated, which also demonstrates the importance of mangoes on a worldwide scale.

The mango is a fruit with a long and documented history that has been carefully preserved just as its taste has been carefully cultivated over the years and through centuries of careful nourishing by dedicated souls who have groomed this fruit, made improvements and whose hard work and dedication have resulted in what is now sold in our streets on pushcarts and in high-end fruit shops for all of us to enjoy.

Why so much focus on this fruit when the market is full of other fruits as well? Ask yourself. Will you replace the mango with any other fruit given the choice?

Copyright Business Recorder, 2026

The consequence? An economy unable to fund its investment needs has to rely on foreign savings, resulting in a balance of payments crisis each time. This is not a tale of saving money or living frugally.

This is one of the most important, but also the least discussed, macroeconomic disasters of our time. It needs attention in the upcoming budget debate for FY2026-27.

The country cannot finance sustainable growth by taxing more and borrowing more; it needs to rebuild its domestic savings base for sustainable growth.

The current performance of country savings looks very dismal when compared with the regional peers. Pakistan has been saving on average about 11 percent of its GDP for the past 35 years.

In the same period, Bangladesh averaged 21 percent, India by over 28 percent, and Vietnam by almost 30 percent.

The gap cannot be explained by income level alone; these countries managed to create an environment where savings were safe and well-rewarded. Those savings ultimately translated into jobs and growth.

Conversely, the savings base eroded in Pakistan. Because savings don’t make sense for the average Pakistani. Around 94 percent of all income generated in the economy is consumed on necessities, such as food, rent, power, commuting, healthcare, and education.

Whatever little money is left over gets eaten up by rising inflation, which in recent years has always risen faster than the interest offered by banks.

When returns on deposits or savings products do not compensate for rising prices, households see little reason to keep money in formal financial instruments.

This creates an inflation/consumption trap. Households spend the lion’s share on necessities, and what little is left ends up stashed in cash, committees, and jewellery in the cupboard.

These may provide security at the household level, but they do not create an efficient pool of resources for productive investment.

The situation is further worsened by the lack of financial literacy and sludge.

Millions of Pakistanis, particularly women and rural inhabitants, are unable to access financial instruments due to long distances, extensive documentation, lack of trust, and existing products that are not compatible with their needs and beliefs.

Then comes the role of the state, persistent fiscal deficits reduced national savings due to persistent fiscal deficits.

Over the years, the country has been spending more than it generates and relies heavily on borrowing, including from domestic banks, leaving almost nothing for the private sector.

Banks prefer such lending due to associated lower risks and higher profits, which triggers the crowding out of private investors from the economy.

However, all is not lost, and this issue is still resolvable. The upcoming Finance Bill is the natural place to begin with, through the provision of incentives to motivate citizens and nudging them to save.

Building on the Policy Viewpoint, “Mobilising Domestic Savings: A Finance Bill and Institutional Reform Agenda for Pakistan,” by Dr S. M. Naeem Nawaz (Professor of Economics) and Wajid Islam (Research Economist) at PIDE, the policy response should begin with a targeted National Savings Mobilisation Package through the FY2026–27 Finance Bill.

The principle should be simple. Ensure that systematic saving is more rewarding and secure than stashing away one’s wealth in the form of cash or gold. Specifically, it requires the revival of a targeted tax relief scheme for approved long-term investment instruments.

Previously, such instruments were offered under Section 62 of the Income Tax Ordinance until withdrawn in 2022.

It implies the promotion of pension schemes, especially those aimed at younger individuals, women, and self-employed citizens, to encourage saving from an early age.

It is pertinent to note that the incentives have to be tailored to serve as a reward for authentic, small, and long-term savers.

Caps on the amount of the incentive, minimum investment duration, and clawback provisions for early withdrawals can help keep the fiscal burden at bay.

A savings-friendly budget needs to refrain from punishing citizens whenever their money flows into the formal economy.

The transaction taxes on bank-based financial transactions have done significant harm by pushing citizens away from banks.

Along with incentives, a conducive environment is a prerequisite to enable easy access to financial markets.

The country doesn’t need to work from scratch as several options are already available, such as national savings institutions, a broad network of banking outlets, digital payment mechanisms, and Islamic finance institutions.

What is needed is a channel that links them in a manner that allows citizens to gain access to these services through digital accounts, easy verifications, and diversity of Shariah-compliant instruments.

However, nothing will stick unless the government balances out its books as well.

Restraining wasteful expenditure, reducing losses in state-owned enterprises, and using borrowed funds for investments instead of expenditures must become integral parts of any policy for savings.

Pakistan has spent too long trying to finance growth without building the savings base needed to sustain it. The choice is not between austerity and growth.

The real choice is whether Pakistan will continue relying on foreign savings or begin rebuilding the domestic pool on which durable growth depends.

The Finance Bill FY2026-27 should be the starting point.

Reward formal long-term saving, protect small savers, reduce public-sector dissaving, and ensure that domestic resources finance productive investment.

Copyright Business Recorder, 2026

The objective was to derive the tax reform agenda from the viewpoint of raising the level of revenues, improving equity in the tax system and enhancing the efficiency in tax collection.

The coverage of taxes is taken to include the petroleum levy, a large source of revenue. This is not the case with the Federal Ministry of Finance, which treats it as non-tax revenue. However, it was taken out of the sales tax on POL products. The IMF also categorises the petroleum levy as a tax.

The principal problem continues to be very low revenue mobilisation by the provinces. Consequently, the national tax-to-GDP ratio remains relatively low at close to 12 percent of the GDP.

Other Asian countries have ratios ranging from 14 percent to 18 percent of the GDP.

Regarding tax rates, the evidence is that these rates are relatively high in Pakistan, and the focus of tax reforms should be on expanding the tax bases and bringing down rates, especially on the corporate sector, large-scale manufacturing and salary incomes.

The scope of widening the tax base exists in several sectors, including retail trade, real estate and agricultural incomes.

Based on the above description of the required type of tax reforms at the federal and provincial levels, some proposals are presented below.

The first important step is the rationalisation of the petroleum levy. Following the shift from sales tax to the levy, the effective rate has gone up substantially, from 18 percent to between 30 percent and 35 percent.

The incidence of petroleum taxes is regressive because they increase the transport cost of all products, including food items.

The rise in petrol prices after the commencement of the Middle East war has led to a quantum jump in the rate of inflation from 5 percent to 11 percent.

Therefore, there should be a reduction by at least one-third initially in the petroleum levy, which is currently Rs 117.4 per litre on petrol and Rs 42.6 on HSD. This major step in the federal budget will constitute a big source of relief.

The government has apparently decided to impose a small fixed 1 percent tax on small retailers. There is also a need for more revenue from large retailers and outlets in supermarkets.

As such, the withholding of income tax on commercial consumers on their electricity bills should be made more progressive.

Given the gross under-taxation of property today, in the presence of six taxes on property at the federal and provincial levels, there is a need to focus on real estate.

Today, investment is being diverted in a big way from industry to real estate.

The first proposal is the levy of a capital value tax on property at the federal level as a substitute for the wealth tax. This will also increase the progressivity of the tax system.

The exemption limit may be Rs 10 million. Beyond this, there could be four slabs with rates ranging from 0.25 percent to 1 percent.

There is also a case for the enhancement of withholding taxes on commercial importers, given the extremely low incidence of taxes on the wholesale and retail trade sector. The current rates should be enhanced by 0.5 to 1 percentage points.

Turning to the personal income tax, there is a strong case for raising the exemption limit from Rs 600,000 to Rs 1,200,000. Also, the size of the slabs needs to be increased, especially on salary income.

There is need also for rationalisation of the super tax on profits of corporate entities. Currently, it is linked on a progressive basis to the absolute size of profits.

This penalises corporate entities which are large in size but have low rates of return on equity.

The structure could start with a tax rate of profits of 25 percent if the return on equity is less than 12 percent. Thereafter, there could be three more slabs.

The highest slab should have a tax rate on profits of 35 percent when the pre-tax return on equity exceeds 25 percent.

There is a dire need for the development of the provincial tax system in Pakistan.

This has also been highlighted by the IMF. Consequently, the IMF has asked for additional revenue mobilisation of Rs 400 billion by the four provincial governments combined in 2026-27.

There are a number of potential sources of additional tax revenues at the provincial level.

The first large tax base is the agricultural income tax. If collected at the same rate as other personal income, it has the potential to yield Rs 800 billion in revenues.

The IMF has pushed for reform of the agricultural income tax law. This has been done by the provincial governments.

However, this has not translated into additional revenues. For example, the Punjab government has targeted only Rs 10.5 billion from this tax in 2025-26.

The agricultural income tax will also contribute to increased progressivity of the tax system. The top 1 percent of the farmers own over 24 percent of the farm area in Pakistan, according to the Agricultural Census.

However, the rural elite has a dominant role in the provincial power structure and has prevented a move towards normal taxation of agricultural income like other incomes.

The solution lies in the introduction of a simple, presumptive tax system with the tax rate linked to the size of the land holding.

The exemption limit could be 12.5 acres equivalent irrigated area. Therefore, there could be several slabs starting with a tax rate of Rs 1000 per acre, going up on landholdings above 150 acres to Rs 10,000 per acre.

The tax audit system of FBR needs to be improved.

First, the percentage of returns audited should exceed 10 percent. Second, a risk-based audit policy should be developed based on the characteristics of the taxpayer. Third, a new taxpayer may be exempted from audit for the first three years. Fourth, a taxpayer may not be subject to audit if the income disclosed increases by more than 25 percent.

There is also a need to introduce some fiscal incentives for promoting savings and investment, which have fallen to exceptionally low levels in Pakistan in recent years.

First, the investment allowance for investment in particular types of savings instruments may be reintroduced in the personal income tax. Second, the enhancement of the tax credit for balancing and modernization and replacement (BMR) is to be raised from 10 percent to 20 percent. Third, a tax holiday may be given for new investment in industry anywhere in Pakistan for five years.

Finally, there is an urgent need to focus on the process of integrating the provincial sales tax on services with the federal sales tax on goods. The first step should be the replacement of the federal excise duty on services by the provincial sales tax. Second, harmonisation of tax rates should take place to facilitate the move to a proper VAT.

This implies an increase in the provincial tax rates. Third, move towards administration and harmonisation with the same tax return, a common IT system and common rules. The powers of audit to be shared by the federal and provincial governments.

Overall, the federal budget should focus on the reduction of the rate of the petroleum levy.

This can be made up at the national level by the above-mentioned reforms in federal and provincial taxes.

The year 2026-27 should focus more on the mobilisation of additional revenues from provincial taxes.

Copyright Business Recorder, 2026

Previous evacuation orders had excluded the ​Christian quarter, ​but the military said ‌Hezbollah ⁠militants were operating there, without providing evidence. It ​had ​warned ⁠residents that the area ​could be ​subject ⁠to evacuation orders if ⁠Hezbollah ​remained present.

Speaking to reporters, as cited by CNN, Trump said discussions between the United States and Iran were continuing even after a reported pause in hostilities between Iran and Israel, suggesting what he described as steady diplomatic progress.

He said he hoped a formal agreement to end the conflict could be finalised within days, adding that any deal would be a signed document rather than an informal understanding.

Trump also said Iran appeared interested in reaching an agreement and that diplomatic efforts were moving forward, though he cautioned that normalisation of relations would not happen immediately even if a deal is reached.

Warning against escalation, he said the United States could carry out significant military strikes but did not want to pursue that option.

He added that prolonged conflict could lead to heavy casualties and disrupt key global shipping routes, including the Strait of Hormuz, which he said could face prolonged closure in a worst-case scenario.

He reiterated that the US position is focused on securing a diplomatic settlement aimed at regional stability rather than expanding military action.

According to the Meteorological Department, the heat is likely to intensify further from tomorrow, with the impact of a heatwave expected to be more pronounced between June 10 and June 12.

During this period, temperatures could rise as high as 43 degrees Celsius.

The department said southwest winds are currently blowing over the city, while weather conditions remain extremely hot and humid.

Officials noted that the combination of rising temperatures and humidity will continue to increase heat stress across the city in the coming days.

He said the arrangement would apply to shipping through the Strait of Hormuz, a key route for about one-fifth of global seaborne oil.

The strait has reportedly seen a 90–95% drop in traffic since the US-Israeli conflict began in late February 2026, contributing to what Jalali described as a 13 million barrel per day shortfall.

The United States, European countries and Gulf states have opposed any toll system on the international waterway, even as regional tensions continue with incidents including Israeli airstrikes.

Jalali also told the Tasnim News Agency that Europe has no role in Tehran–Washington negotiations aimed at resolving the Middle East crisis, saying talks are strictly between Iran and the US administration.

Oman’s ambassador to Washington, Talal bin Suleiman al-Rahbi, recently told The Guardian that Oman opposes any toll-based system and supports freedom of navigation.

Oman, which shares stewardship of the strait and has traditionally acted as a neutral mediator, continues to resist US pressure to sever ties with Iran.

It has been discussing a potential management framework for the strait that would comply with international law, in consultation with the International Maritime Organisation.

Oman has also been critical of violations of international law in the region and has condemned Iranian attacks on Bahrain and Kuwait.

Any future reopening of the waterway could significantly increase global oil supply and ease shortages, although enforcement mechanisms remain unclear.