Web Desk/AFP

DELETE

Americas

Middle East

DELETE

This live blog follows the latest developments across the Middle East crisis, including regional diplomacy, maritime security, ceasefire negotiations, and economic fallout.<hr style="line-height: 2;">Catch up: Yesterday&rsquo;s top developments<ul style="list-style-type: square;"><li style="line-height: 2; color: rgb(0, 0, 0);"><a href="http://iran%20says%20will%20charge%20ships%20crossing%20strait%20of%20hormuz%20after%2060%20days/" style="color: rgb(0, 0, 0);">Iran says will charge ships crossing Strait of Hormuz after 60 days</a></li><li style="line-height: 2; color: rgb(0, 0, 0);"><a href="http://iranian%20chief%20negotiator%20says%20deal%20is%20'record%20of%20us%20failure'/" style="color: rgb(0, 0, 0);">Iranian chief negotiator says deal is &#39;record of US failure&#39;</a></li><li style="line-height: 2; color: rgb(0, 0, 0);"><a href="http://us,%20allies%20to%20make%20plan%20for%20$300%20bn%20iran%20reconstruction%20fund/" style="color: rgb(0, 0, 0);">US, allies to make plan for $300 bn Iran reconstruction fund</a></li><li style="line-height: 2; color: rgb(0, 0, 0);"><a href="http://pakistan,%20turkiye%20welcome%20us-iran%20agreement/" style="color: rgb(0, 0, 0);">Pakistan, Turkiye welcome US-Iran agreement</a>&nbsp;</li><li style="line-height: 2; color: rgb(0, 0, 0);"><a href="https://www.pakistantv.com/article/middle-east-live-june-17-2026#:~:text=China%20to%20send%20humanitarian%20assistance%20to%20Iran%2C%20Lebanon" style="color: rgb(0, 0, 0);">China to send humanitarian assistance to Iran, Lebanon</a></li></ul><hr style="line-height: 2;"> Pakistan details implementation roadmapPublished: June 17, 2026 | 23:40 GMT | by Web Desk Prime Minister Shehbaz Sharif subsequently announced the signing of the Islamabad Memorandum of Understanding and outlined the first steps under the agreement, describing it as a landmark diplomatic achievement. &ldquo;The Memorandum has been signed by honourable Presidents of both the countries and also endorsed by me as the mediator,&rdquo; Sharif said in a post on X.&nbsp; He said the signing demonstrated the &ldquo;commitment of both sides to a diplomatic resolution of the conflict.&rdquo; The prime minister said the agreement would enter into force immediately.&nbsp; &ldquo;Islamabad MoU shall enter into force with immediate effect and as a first step, Islamic Republic of Iran will instantly reopen the Strait of Hormuz and the United States of America will immediately lift the naval blockade,&rdquo; he said. Sharif added that Pakistan, together with co-mediator Qatar, would host the official ceremony in B&uuml;rgenstock, Switzerland, on June 19 to commemorate the agreement and launch technical-level talks.&nbsp; He thanked US President Donald Trump, Iranian leaders, Qatar, Saudi Arabia, T&uuml;rkiye and Egypt for their support, while paying special tribute to Chief of Defence Forces Field Marshal Asim Munir for his role in facilitating the breakthrough. &ldquo;May this Memorandum of Understanding serve as an enduring foundation for greater understanding, mutual respect and shared prosperity for the complete region,&rdquo; the prime minister said. <hr style="line-height: 2;"> Peace has prevailed: Pakistan&#39;s information minister on signing of Islamabad MoU&nbsp;Published: June 18, 2026 | 01:46 GMT | by Web Desk Pakistan&#39;s Information Minister Attaullah Tarar, in a post on X, said that &quot;peace has prevailed,&quot; after Prime Minister Shehbaz Sharif announced the signing of the historic Islamabad Memorandum of Understanding to end the conflict between the United States and Iran.&nbsp; &quot;The historic &#39;Islamabad Memorandum of Understanding&#39; has been signed today. Hats off to Prime Minister Shehbaz Sharif and Chief of Army Staff and Chief of Defence Forces Syed Asim Munir,&quot; he said. <hr style="line-height: 2;"> Washington endorses finalized accordPublished: June 17, 2026 | 23:33 GMT | by Web Desk US President Donald Trump later confirmed that the agreement had been signed, backing Tehran&#39;s earlier announcement and signaling that Washington was ready to move toward implementation. &ldquo;It&rsquo;s signed in Versailles,&rdquo; Trump told reporters as he departed following the G7 summit in France. Trump had repeatedly described the agreement as a pathway to broader regional stability and credited mediators, including Pakistan and Qatar, for helping advance negotiations.&nbsp; <hr style="line-height: 2;"> Implementation phase now beginsPublished: June 17, 2026 | 22:42 GMT | by AFP&nbsp; Iran became the first party to publicly confirm the signing of the Islamabad Memorandum of Understanding, signaling that attention would now shift from negotiations to implementation. &ldquo;The text of the Islamabad Memorandum of Understanding was finalised with the signatures of the presidents &mdash; now it is time to test the implementation of the agreement,&rdquo; Foreign Ministry spokesman Esmaeil Baqaei said, according to Iran&#39;s state news agency IRNA. The confirmation marks a major milestone in a peace process that followed more than 100 days of conflict, military escalation and intensive diplomacy involving Pakistan, Qatar and other regional partners.&nbsp; <hr style="line-height: 2;"> 110 days (from Feb 28 to Jun 17) The agreement caps 110 days of conflict that began on February 28, when US and Israeli strikes on Iran triggered a wider regional crisis involving military exchanges across the Gulf, disruptions to shipping through the Strait of Hormuz, and parallel fighting involving Hezbollah in Lebanon.&nbsp; Throughout the crisis, Pakistan emerged as a central diplomatic interlocutor, maintaining continuous engagement with Washington, Tehran and key regional capitals.&nbsp; Prime Minister Shehbaz Sharif, Deputy Prime Minister and Foreign Minister Ishaq Dar, Chief of Defence Forces Field Marshal Asim Munir and Interior Minister Mohsin Naqvi held a series of high-level contacts with US, Iranian, Gulf, Turkish and international counterparts as Islamabad coordinated mediation efforts alongside Qatar.&nbsp; Pakistan also hosted direct US-Iran talks in Islamabad, facilitated subsequent rounds of engagement, and worked with regional and global stakeholders to transform a fragile ceasefire into the Islamabad Memorandum of Understanding signed on June 17. <hr style="line-height: 2;"> For earlier developments, read our June 17 live blog&nbsp;<a href="https://www.pakistantv.com/article/middle-east-live-june-17-2026" style="color: rgb(0, 0, 0);">here</a>.

Agreement enters immediate implementation, including reopening the Strait of Hormuz and lifting the US naval blockade. Washington and Tehran confirm presidential signatures, while Islamabad says technical talks will begin ahead of a June 19 ceremony in Switzerland.

US, Iran sign Pakistan-mediated accord ending 110-day conflict

Web Desk

ISLAMABAD: United States President Donald Trump on Wednesday said that the &ldquo;horrible&rdquo; retreat from Afghanistan left US equipment behind, which he described as &ldquo;a little old now,&rdquo; adding that he &ldquo;may&rdquo; get all the equipment back from the central Asian country.&nbsp; Referring to the previous administration, Trump said, &ldquo;They weren&rsquo;t under any pressure.&rdquo; &ldquo;You take your time. You can get out. I was gonna get out. We were gonna get out with dignity and pride, take 100% of the equipment. I was even taking the tents down,&rdquo; he said while giving the closing remarks at the&nbsp;G7 summit. He stated that &ldquo;Afghanistan is kissing our a&mdash;.&rdquo; Earlier, Trump had said that future financial assistance to Afghanistan would be contingent upon the return of US military equipment by the Taliban leaders currently in power. &ldquo;They [Biden administration] gave billions and billions of dollars to the Taliban. They gave our military equipment, a big chunk of it, to the enemy,&rdquo; Trump said in January last year.. The US president&rsquo;s remarks also validate Islamabad&rsquo;s claims that the weapons left in Afghanistan wer being used by terrorist organizations, including the Tehreek-e-Taliban Pakistan (TTP), to carry out attacks in Pakistan. The Pakistani foreign office had that said the&nbsp;presence of advanced weapons in Afghanistan, left behind by US in the aftermath of the withdrawal of its troops in August 2021, has been an &quot;issue of profound concern for the safety and security of Pakistan and its citizens.&quot;

Central Asia

Says “horrible” retreat from Afghanistan left US equipment behind, describes it as “a little old now,” add that he “may” get all the equipment back, while speaking at a news conference after the G7 summit.


At G7, Trump says ‘horrible retreat’ left US equipment behind in Afghanistan

HOUSTON: Cristiano Ronaldo&#39;s record-equalling sixth World Cup got off to a disappointing start as the Democratic Republic of Congo secured their first ever point at the finals, drawing 1-1 with Portugal in their Group K match on Wednesday.&nbsp;Yoane Wissa&#39;s header cancelled out Joao Neves&#39;s early goal and the African side -- appearing in their first World Cup since 1974 when it was known as Zaire -- more than held their own.&nbsp;Ronaldo, 41, was largely a peripheral figure throughout the match -- failing to make the impact his great rival Lionel Messi had done on Tuesday in scoring a hat-trick against Algeria.&nbsp;The DRC&#39;s achievement was even greater given their preparations had been disrupted by the Ebola outbreak back in their country.&nbsp;Some Portugal players were wearing wrist bands, given to them by their Prime Minister Luis Montenegro, in tribute to late team-mate Diogo Jota, who was killed in a car crash last year.&nbsp;Portugal got off to the perfect start, with Neves powering home a header from Pedro Neto&#39;s cross in the sixth minute.&nbsp;However, despite dominating possession they lacked a cutting edge and well into time added on in the first half their opponents made them pay.&nbsp;Wissa rose unmarked to head past Diogo Costa in the Portuguese goal sparking wild celebrations on the pitch, the bench and among the Congolese fans in the stadium as the Newcastle forward registered his country&#39;s first ever goal at a World Cup.&nbsp;Former Portuguese defensive bulwark Pepe, watching from the VIP seats, did not look impressed.&nbsp;Bernardo Silva had started the day by joining Real Madrid on a free transfer but he ended it by watching from the bench after Martinez took him off at half-time.&nbsp;He was briefly off his feet celebrating when Joao Cancelo&#39;s overhead kick hit the back of the net -- only for it to be ruled out for offside.&nbsp;The Congolese were matching the Portuguese, though, and 35-year-old veteran striker Cedric Bakambu shrugged aside Bruno Fernandes, but his shot came back off the near post.&nbsp;Ronaldo finally had a chance to shine when presented with a chance by Francisco Conceicao&#39;s pass but he fluffed his lines sending it wide of the post.&nbsp;The same combination linked up again minutes later, Conceicao -- a far livelier presence than Silva had been -- teeing up Ronaldo but once again the result was the same, the ball went wide.&nbsp;Portugal thought they had at least got a corner but when it was not given Conceicao slammed the ball into the ground in frustration as his side failed to pick up three points in their opener.

Football

Cristiano Ronaldo's sixth World Cup began with a disappointing 1-1 draw as Democratic Republic of the Congo earned its first-ever World Cup point. Yoane Wissa cancelled out Joao Neves's early goal, while Portugal missed chances to secure victory.

Ronaldo fails to shine as DR Congo earn historic World Cup point

JILJĪLĪYĀ: Israeli settlers set fire to mosques in two West Bank villages on Wednesday, their mayors said, with AFP journalists at one site seeing scorched walls and graffiti.&nbsp;The incident came during a period of increased attacks against Palestinian communities by settlers in the Israeli-occupied West Bank since the start of the Gaza war in 2023.&nbsp;Osama Abdullah, head of the village council in Jiljiliya, north of Ramallah, told AFP that &quot;settlers set fire to the ablution room, caused damage to the village&#39;s main mosque, and scrawled hostile slogans on the outer walls&quot;.&nbsp;AFP journalists who visited one mosque on Wednesday saw that the ceiling, walls and floors were blackened by smoke and flames.&nbsp;Graffiti had also been daubed on the walls in Hebrew. Some read &quot;vengeance&quot; and: &quot;Hi, from the Hilltop Youth&quot;.&nbsp;Molotov cocktailsThe Hilltop Youth are a group of Israelis in the West Bank who are regularly accused of violence towards Palestinians they seek to evict from areas they want to take over.&nbsp;Israel&#39;s military confirmed the arson and graffiti on the mosques, but did not identify the perpetrators.&nbsp;&quot;The forces searched the area for suspects and located two burned mosques, as well as graffiti on the walls. The suspects had fled prior to the arrival of the forces,&quot; it said in a statement.&nbsp;Mayor Abdullah said settlers arrived to burn down the mosque between 2am and 3am but found its door was locked, so instead set fire to a room dedicated to ablutions on a lower floor.&nbsp;He said Palestinian civil defence crews, along with young men from the village and neighbouring areas, extinguished the blaze.&nbsp;In the neighbouring village of Mazari an-Nubani, settlers came to torch another mosque overnight, the head of the village council, Saad Dagher, told AFP.&nbsp;Dagher said settlers arrived to attack one of the village&#39;s three mosques with Molotov cocktails around 3am, before running away while residents put out the fire.&nbsp;ImpunityThe Palestinian ministry of religious affairs condemned &quot;dangerous aggressions&quot; in a statement that also called on the international community to intervene.&nbsp;Israel has occupied the West Bank since 1967. More than 500,000 Israeli settlers live in the territory -- excluding east Jerusalem, which has been annexed by Israel -- among some three million Palestinians.&nbsp;Settlements, which are illegal under international law, have sprouted all over the West Bank under the right-wing government of Prime Minister Benjamin Netanyahu, which contains many pro-settlement ministers in its ranks.&nbsp;The United Nations recently warned that settler violence in the West Bank had reached record levels, with an average of six attacks daily causing casualties or damage.

Israeli settlers set fire to mosques in two West Bank villages, damaging an ablution room and scrawling hostile graffiti. Residents and civil defence crews extinguished the blazes.​The Palestinian ministry of religious affairs condemned 'dangerous aggressions'.

Israeli settlers torch two West Bank mosques: Palestinian officials

ISLAMABAD: Pakistan and the United Kingdom on Wednesday reaffirmed their commitment to strengthening cooperation in counterterrorism, security, immigration and institutional capacity-building during talks between Interior Minister Mohsin Naqvi and British Parliamentary Under-Secretary of State at the Foreign, Commonwealth, and Development Office Hamish Falconer in Islamabad. According to a statement issued by the Pakistan interior ministry, the two sides reviewed bilateral relations and exchanged views on regional developments, with particular focus on expanding cooperation in counterterrorism, illegal immigration, institutional partnerships, and police training. The meeting comes as Pakistan continues efforts to strengthen border management, combat human trafficking networks, and enhance cooperation with international partners on security challenges. Naqvi highlighted progress achieved under the Upskill Project, saying the initiative had delivered encouraging results and significantly improved the capabilities of Pakistani institutions. &quot;The government is committed to strengthening professional standards and institutional capabilities through international partnerships,&quot; the minister said, according to the statement. The two sides also agreed to work closely on addressing the issue of fraudulent student visas, which both countries view as a growing concern. Naqvi said Pakistan was taking indiscriminate action against illegal immigration networks and human trafficking syndicates, emphasizing the government&#39;s resolve to dismantle criminal groups that exploit vulnerable people. On regional security, the interior minister said several terrorist organizations were operating from Afghan soil and stressed that Afghanistan must prevent its territory from being used to launch terrorist activities against Pakistan. He reaffirmed Islamabad&#39;s commitment to expanding cooperation with the United Kingdom, saying Pakistan values its longstanding partnership with London and seeks to further strengthen ties across multiple sectors. According to the ministry, Falconer appreciated Pakistan&#39;s role in facilitating understanding between the United States and Iran and said Islamabad&#39;s efforts to ease tensions had highlighted its contribution to regional and international peace. The British minister also commended Prime Minister Shehbaz Sharif and Chief of Defense Forces Field Marshal Asim Munir for their role in promoting peace and stability, the statement said.

Foreign Affairs

Security

Reaffirms commitment to strengthening cooperation in counterterrorism, security, immigration and institutional capacity-building 

Pakistan, UK deepen counterterrorism, immigration cooperation during Islamabad meeting

ARLINGTON: Jude Bellingham was preferred to Morgan Rogers in the England number 10 role for their World Cup opener against Croatia in Texas on Wednesday.&nbsp;There had been uncertainty over who coach Thomas Tuchel would select to offer support to captain Harry Kane up front.&nbsp;The 22-year-old Real Madrid star Bellingham has been given the nod over Aston Villa&#39;s Rogers to start the Group L encounter, which will take place under a roof with air conditioning.&nbsp;On the wings Tuchel went with new Barcelona signing Anthony Gordon and Noni Madueke, with Arsenal team-mate Bukayo Saka still managing a nagging Achilles issue.&nbsp;Bellingham has not always had the smoothest relationship with Tuchel.&nbsp;The German once called some of the midfielder&#39;s on-pitch behaviour &quot;repulsive&quot;. He later apologised.&nbsp;At the back for the clash in Arlington Tuchel named Villa&#39;s Ezri Konsa alongside John Stones, with Marc Guehi on the bench.

England coach Thomas Tuchel selected Jude Bellingham ahead of Morgan Rogers in the No.10 role for the World Cup opener against Croatia. Anthony Gordon and Noni Madueke started on the wings, while Ezri Konsa partnered John Stones in defence.

Bellingham starts for England against Croatia

ISLAMABAD: When then-US Defense Secretary Jim Mattis stood before military leaders in Hawaii in May 2018 and renamed US Pacific Command as US Indo-Pacific Command, the move was widely interpreted as more than a bureaucratic adjustment. &ldquo;In recognition of the increasing connectivity between the Indian and Pacific oceans, today we rename the US Pacific Command to the US Indo-Pacific Command,&rdquo; Mattis said at the time. For Washington, the change reflected a broader strategic vision. For New Delhi, it was celebrated as recognition of India&#39;s emergence as a central pillar of America&#39;s regional strategy and a key counterweight to China. Eight years later, that symbolism has quietly been reversed. The Pentagon&#39;s decision to restore the command&#39;s original Pacific Command designation has triggered debate in India and renewed scrutiny of a strategic assumption that has shaped US policy for much of the past decade: that India would evolve into a regional security provider capable of anchoring stability across the Indian Ocean and South Asia. The timing has amplified the discussion.&nbsp; The move came just hours before US President Donald Trump met Indian Prime Minister Narendra Modi on the sidelines of the G7 summit, prompting questions among Indian commentators and opposition politicians about whether Washington is reassessing New Delhi&#39;s role within its broader Asia strategy. Among the most notable reactions came from Indian lawmaker Shashi Tharoor, who publicly questioned the significance of the decision, asking whether it represented &ldquo;one more nail in the coffin of the Quad,&rdquo; the strategic grouping of the United States, India, Japan and Australia. While US officials have not publicly linked the renaming to any dissatisfaction with India, the decision arrives at a moment when New Delhi&#39;s claims to regional leadership face increasing scrutiny. The Indo-Pacific concept rested on a simple proposition: that India, by virtue of its geography, population and growing military capabilities, would emerge as a stabilizing force capable of helping manage regional security challenges while balancing China&#39;s rise. Yet the past decade has exposed the limits of that vision. Repeated crises between India and Pakistan have continued to generate regional instability and international concern.&nbsp; Rather than demonstrating uncontested leadership in South Asia, New Delhi has repeatedly found itself confronting a strategic environment where outcomes remain shaped by deterrence, escalation risks and external diplomatic engagement. The most recent example came during the 2025 confrontation between India and Pakistan following Operation Sindoor and Pakistan&#39;s subsequent military response under Operation Bunyanum Marsoos.&nbsp; Regardless of how either side interpreted the outcome, the episode underscored a reality that Washington has struggled to ignore: South Asia remains a contested strategic space where no single power exercises unquestioned authority. That reality matters because the Indo-Pacific framework was never merely about geography.&nbsp; It was about expectations. Washington elevated India&#39;s role based on the belief that New Delhi would become a net provider of regional security and stability.&nbsp; The question now confronting policymakers is whether those expectations have been met. India remains an important US partner. It possesses one of the world&#39;s largest militaries, a rapidly expanding economy and a shared interest with Washington in balancing China&#39;s influence across Asia. None of those fundamentals have changed. What may be changing, however, is the willingness of US policymakers to rely on symbolism alone. The restoration of Pacific Command does not signal a rupture in US-India relations. Nor does it amount to an abandonment of strategic cooperation. But it does suggest a shift away from the language and assumptions that once elevated India as the centerpiece of America&#39;s regional vision. For years, the Indo-Pacific concept symbolized India&#39;s rise within Washington&#39;s strategic thinking. The return of Pacific Command does not erase that history. It does, however, raise a question that policymakers in both capitals can no longer easily avoid: Has India fulfilled the regional role it was once expected to play? The answer may shape the next phase of US strategy in Asia far more than the name of any military command.

US President Donald Trump and Indian Prime Minister Narendra Modi pose for a group photo on the second day of this year’s Group of Seven summit in Évian-les-Bains, eastern France, on June 16, 2026. (AFP video screenshot)

Asia

The Pentagon's restoration of Pacific Command has reignited debate over India's role in US strategy, raising questions about whether New Delhi has fulfilled Washington's long-held expectations as a regional security provider and stabilizing force in Asia.


Pacific Command revival raises questions about India’s strategic promise

SAN FRANCISCO: SpaceX shares surged again Tuesday, lifting <a href="https://pakistantv.com/article/newly-minted-trillionaire-musk-under-fire-over-belfast-riots" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Elon Musk</a>&#39;s rocket company into the world&#39;s top five in market value for most of the session as a record-breaking IPO gives way to a torrid buying frenzy. Shares of SpaceX, formally Space Exploration Technologies Corp, finished up nearly 5% at $201.80, giving it a market value of $2.64 trillion. That placed the company a hair below Amazon&#39;s $2.65 trillion at the end of Tuesday&#39;s session after leading the online shopping platform most of the day. SpaceX also briefly eclipsed <a href="https://pakistantv.com/article/microsoft-openai-loosen-ties-as-rivalry-simmers" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Microsoft</a>, which is fourth on the list. The latest rise came as SpaceX announced it will acquire <a href="https://pakistantv.com/article/elon-musks-ai-tool-grok-was-used-in-strikes-against-iran-us-govt" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">artificial intelligence</a> (AI) coding startup Cursor for $60 billion, a deal designed to further cement the Texas-based company near the nexus of the AI boom. The SpaceX fever partly stems from enthusiasm over its growth potential, including AI. But at least as important are dynamics that have nothing to do with the company&#39;s operations or profit outlook. &quot;There is no valuation support for this market cap as it&#39;s all retail excitement meeting a very small float and no institutional sellers,&quot; said Eric Clark, a portfolio manager and chief investment officer at Accuvest Global Advisors. &quot;It&#39;s just a momentum trade and retail excitement plus active growth managers wanting exposure,&quot; Clark said in an email that described SpaceX&#39;s growth potential as a &quot;five-to-10-year game.&quot; Shares of SpaceX have soared more than a third in three sessions since last week&#39;s IPO, which raised a record-breaking $85.7 billion. &quot;There&#39;s a bit of a mania involving AI and anything that could be one of the beneficiaries of the spending on AI,&quot; said Steve Sosnick of Interactive Brokers. Co-founded by Musk in 2002, the rocket startup has expanded into a major satellite operator and has also folded in Musk&#39;s artificial intelligence company xAI, which includes social media platform X. Cursor SpaceX&#39;s acquisition of Cursor marks its latest big AI investment. Founded in 2022, San Francisco-based Cursor specializes in AI for software development, particularly for business uses. An acquisition had looked possible after the two companies had announced a partnership in April that included a clause for Cursor to be potentially bought by SpaceX for $60 billion. Cursor&#39;s emergence has coincided with the growth of &quot;vibe coding,&quot; whereby online users build applications with AI-generated code. At its last funding round in November, Cursor was valued at $29 billion. Tuesday&#39;s deal more than doubles that sum. In a filing with the Securities and Exchange Commission, SpaceX said the all-stock deal was expected to close in the third quarter and that Cursor would become a wholly owned subsidiary. In May, SpaceX announced plans to invest $55 billion to build a &quot;Terafab&quot; semiconductor factory in Texas, producing chips for AI and robotics. Also last month, AI startup Anthropic announced a partnership with SpaceX under which it would pay for use of the compute capacity at SpaceX&#39;s Colossus 1 data center in Tennessee. Bubble? These ventures have cemented investor belief that SpaceX resides at the nexus of key AI developments. Investor consensus also continues to propel Musk, already the world&#39;s wealthiest person, whose role as Tesla CEO also brings exposure to new developments in autonomous driving and robotics. SpaceX&#39;s lofty ambitions for AI are expected to consume capital for at least the next few years. It reported a loss of $4.3 billion last year. The company&#39;s valuation puts it within striking range of Microsoft, currently worth $2.92 trillion, according to Yahoo Finance.&nbsp;<a href="https://pakistantv.com/article/nvidia-launches-windows-laptop-chip-in-consumer-pc-push" target="_blank" style="color:#0073e6;" rel="noopener noreferrer">Nvidia</a>&nbsp;is first with nearly a $5.1 trillion valuation. But portfolio manager Clark expects SpaceX&#39;s &quot;bubbliscious&quot; valuation to ebb once additional shares hit the market. IPOs historically see &quot;big&quot; drawdowns during the first year, Clark said. &quot;That should happen when the float expands and people get a chance to match the fundamentals via the first quarterly report with the valuation and market cap.&quot; Clark said SpaceX may one day justify such a valuation but &quot;momentum, euphoria, and hype is a fickle beast, and this market is out of line across many stocks for now.&quot;

Business

Shares of SpaceX finished up nearly 5% at $201.80, giving it a market value of $2.64 trillion and placing the company a hair below Amazon's $2.65 trillion at the end of Tuesday's session.

After three sessions, SpaceX already among world's most valuable companies

ISLAMABAD: Pakistan&rsquo;s Foreign Minister Ishaq Dar held a telephonic conversation with his Egyptian counterpart on Wednesday, the Ministry of Foreign Affairs reported. In a post on X (Twitter), the Foreign Office said Egyptian Foreign Minister Badr Abdelatty discussed the scheduled signing of a memorandum of understanding (MoU) between the United States and Iran in B&uuml;rgenstock, Switzerland, on Friday. <div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-1" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 770px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-1&features=eyJ0ZndfdGltZWxpbmVfbGlzdCI6eyJidWNrZXQiOltdLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2ZvbGxvd2VyX2NvdW50X3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9iYWNrZW5kIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19yZWZzcmNfc2Vzc2lvbiI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfZm9zbnJfc29mdF9pbnRlcnZlbnRpb25zX2VuYWJsZWQiOnsiYnVja2V0Ijoib24iLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X21peGVkX21lZGlhXzE1ODk3Ijp7ImJ1Y2tldCI6InRyZWF0bWVudCIsInZlcnNpb24iOm51bGx9LCJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3Nob3dfYmlyZHdhdGNoX3Bpdm90c19lbmFibGVkIjp7ImJ1Y2tldCI6Im9uIiwidmVyc2lvbiI6bnVsbH0sInRmd19kdXBsaWNhdGVfc2NyaWJlc190b19zZXR0aW5ncyI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdXNlX3Byb2ZpbGVfaW1hZ2Vfc2hhcGVfZW5hYmxlZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9LCJ0ZndfdmlkZW9faGxzX2R5bmFtaWNfbWFuaWZlc3RzXzE1MDgyIjp7ImJ1Y2tldCI6InRydWVfYml0cmF0ZSIsInZlcnNpb24iOm51bGx9LCJ0ZndfbGVnYWN5X3RpbWVsaW5lX3N1bnNldCI6eyJidWNrZXQiOnRydWUsInZlcnNpb24iOm51bGx9LCJ0ZndfdHdlZXRfZWRpdF9mcm9udGVuZCI6eyJidWNrZXQiOiJvbiIsInZlcnNpb24iOm51bGx9fQ%3D%3D&frame=false&hideCard=false&hideThread=false&id=2067148497368084554&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=a91852a8fe2cf9319af25dc40bb5fa94f4d63943&theme=light&widgetsVersion=6a3ad42b224df%3A1778106238597&width=550px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</iframe></div></div> The two ministers also reviewed recent understandings reached between Washington and Tehran, which helped bring an end to the Middle East War. They further exchanged views on the Regional Four (R-4) Foreign Ministers&rsquo; Meeting, which is set to be held later this month. The Regional Four (R-4) is a high-level diplomatic forum comprising Pakistan, Saudi Arabia, Egypt and T&uuml;rkiye. It was established to help address geopolitical tensions in the Middle East through dialogue and de-escalation efforts. Both ministers agreed to remain in close contact. Pakistan, Rwanda discuss trade, economic cooperation Pakistan&#39;s Coordinator to the Prime Minister on Commerce Rana Ihsaan Afzal Khan&nbsp;met with Rwanda&#39;s High Commissioner Harerimana Fatou&nbsp;to discuss strengthening bilateral economic ties and exploring trade opportunities between the two countries, Press Information Department reported on Wednesday. According to an official statement, the discussions focused on&nbsp;enhancing bilateral trade and promoting business-to-business engagement. Rana Ihsaan&nbsp;Khan highlighted Pakistan&#39;s interest in expanding economic relations with Rwanda. He talked about&nbsp;the importance of strengthening institutional and commercial linkages between the two nations. Both sides discussed trade facilitation measures, including the exchange of information on banking channels and financial mechanisms to support commercial transactions. They also explored prospects for advancing economic cooperation with the East African Community, including progress on a potential agreement to facilitate trade and improve market access. The participants acknowledged significant potential for deeper economic engagement between Pakistan and the East African region. The meeting concluded with both sides committed to enhancing bilateral relations and promoting mutually beneficial economic cooperation.

The talks focused on regional stability, diplomatic engagement and efforts to strengthen coordination on issues of mutual interest.

 Pakistan, Egypt foreign ministers discuss US-Iran agreement, regional issues

ISLAMABAD: Pakistan&rsquo;s technology exports have hit a historic milestone, crossing the $4 billion-mark for the first time during the first 11 months of the outgoing fiscal year. According to data reported by the State Bank of Pakistan and market analysts, IT and IT-enabled services exports reached $4.184 billion during July-May FY2025-26, compared with $3.475 billion in the same period last year.&nbsp; Adviser to the country&#39;s finance minister, Khurram Schehzad, in a post on X, confirmed a record increase in tech exports and shared the same numbers.<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowfullscreen="true" style="position: static; visibility: visible; width: 550px; height: 899px; display: block; flex-grow: 1;" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2067184752789258646&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=ae699fc3ab56ad6e8273ed5e5544def4e34cfb25&theme=light&widgetsVersion=6a3ad42b224df%3A1778106238597&width=550px">&nbsp;&nbsp;</iframe></div></div>The latest numbers show an increase of $709 million, or 20%, highlighting the growing role of software houses, IT firms, and freelancers in bringing foreign exchange into the country. In May 2026 alone, Pakistan recorded IT export receipts of $373 million.&nbsp; The figure was 13% higher than May last year, although it fell from $423 million in April.&nbsp; Analysts attributed the month-on-month decline to fewer working days due to the Eid holidays. Despite the monthly dip, the sector has remained one of Pakistan&rsquo;s strongest export performers at a time when traditional exports continue to face pressure from global demand, energy costs, and competitiveness challenges.&nbsp; Industry stakeholders say export-friendly policies, continuity of incentives, international marketing, and improved facilitation of foreign exchange inflows have helped maintain the growth momentum.<img src="https://paktv-assets-7d41fab8.s3.eu-west-2.amazonaws.com/8e824d8d-9407-4b3b-9779-98bb12774c4e.jpg" style="width: 704px;" class="fr-fic fr-dib"> Officials expect the country&rsquo;s IT exports to close the fiscal year near $4.5 billion, setting a new annual record. The government has also linked the sector&rsquo;s expansion with its broader digital economy agenda, including higher-value services, startup growth, freelancing, connectivity, and foreign investment.&#39;&#39; However, experts say sustaining the pace will require stable internet access, smoother payment channels, skills development, and consistent taxation policies. Pakistan has set an ambitious long-term target of taking annual IT exports to $10 billion by FY2028-29, which would require much faster growth over the next three years. For now, the latest figures mark a confidence boost for Pakistan&rsquo;s digital economy and its tech workforce overall.

Economy

Pakistan’s IT exports crossed the $4 billion mark for the first time, reaching $4.184 billion in 11 months of FY26, with May receipts standing at $373 million despite the Eid slowdown.

DELETE

Latest News

US, Iran sign Pakistan-mediated accord ending 110-day conflict

At G7, Trump says ‘horrible retreat’ left US equipment behind in Afghanistan

Ronaldo fails to shine as DR Congo earn historic World Cup point

Israeli settlers torch two West Bank mosques: Palestinian officials

Pakistan, UK deepen counterterrorism, immigration cooperation during Islamabad meeting