Good afternoon,

Today’s news: Globally, updates from Gaza and Ukraine. Locally, ADB okays $410m for Reko Diq, GB hit by glacier burst, Karachi warehouse blast kills 4, and police arrest Imran’s nephew.

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Around The World

Updates from Gaza. At least 30 Palestinians have been killed across Gaza since dawn, including 25 killed in Gaza City, where the most intense bombardments are taking place. Israel’s defense minister warned on Friday that Gaza City could be destroyed unless Hamas accepts Israel’s terms, as the country prepares for an expanded offensive in the area. He also restated Israel’s cease-fire demands: the release of all hostages and Hamas’s complete disarmament. 

Hamas has accused Netanyahu of disregarding efforts by international mediators to reach a ceasefire and of forging ahead with the military occupation of Gaza City. Egypt has also deployed additional forces along the border amid rising fears that Israel’s planned occupation could push Palestinians into North Sinai. Get live updates here and here.

World leaders have condemned Israel’s approval of the so-called E1 settlement expansion project, which they say renders a future two-state solution for Palestinians impossible. The development will include 3,400 new homes for Israeli settlers. It will also cut off much of the occupied West Bank from occupied East Jerusalem while linking up thousands of illegal Israeli settlements in the area.

Updates from Ukraine. Russian President Vladimir Putin is demanding that Ukraine give up all of the eastern Donbas region, renounce ambitions to join NATO, remain neutral, and keep Western troops out of the country. Meanwhile, Russia launched its largest drone and missile salvo on Ukraine in more than a month, as Moscow accused Kyiv of not being interested in a “sustainable, fair and long-term settlement.” Nine civilians were killed in the strikes and shelling. The attacks come just days after Trump met with Putin, followed by a White House summit with Zelensky and European leaders, in pursuit of an end to the conflict.

Pakistan

Banking big. The Asian Development Bank (ADB) has approved a $410 million financing package for the Reko Diq copper-gold mine, operated by Barrick Gold. The package includes $300m in senior loans to the Reko Diq Mining Company (RDMC) and a $110m partial credit guarantee for the Balochistan government’s equity share. Expected to become the world’s fifth-largest copper mine, Reko Diq will be Pakistan’s largest-ever foreign direct investment, producing 800,000 tons of copper concentrate annually in its first phase. 

RDMC is jointly owned: Barrick Gold (50%), the Government of Balochistan (25%), and federal SOEs (25%). This marks ADB’s first mining project under its Critical Minerals-to-Manufacturing Value Chains approach. 

Drenched. At least 200 people were rescued after a glacier burst in Gilgit-Baltistan’s Gupis Valley, blocking the Ghizer River and destroying villages. Rescue 1122 and local volunteers evacuated stranded residents, later joined by army helicopters, while officials reported that 70 houses were destroyed and 80% of one village was washed away. Authorities warned that if the blocked river water is not released, hundreds of homes could be submerged, prompting urgent rescue and relief operations, with precautionary evacuations underway.

Blast in Karachi. A powerful explosion at a fireworks storage warehouse in Karachi’s crowded Saddar area has killed 4 people and injured over 30. The blast caused a massive fire, damaging nearby shops and vehicles, before firefighters brought the blaze under control after several hours. Authorities said the warehouse owners are now under investigation, while police probe the cause of the blast amid calls for accountability.

Invasive maneuvers. Lahore police arrested Shahrez Khan, nephew of PTI leader Imran Khan, in connection with the May 9 riots, though his family and PTI leaders insist he has no political links and was “abducted” by plainclothes men from his home. PTI condemned the incident as harassment and vowed to approach the Lahore High Court for his recovery. 

Meanwhile, a local court granted bail to 63 PTI workers arrested during recent protests, ordering their release. The Supreme Court also approved bail for Imran Khan, though he remains in detention as he faces over 100 cases across Islamabad and Rawalpindi.

What Else Is Happening?

🌞NASA and IBM just released Surya, a new AI foundation model trained on nine years of solar observations that predicts solar flares and space weather events with extreme accuracy.

🧠Microsoft AI CEO published an essay warning about "Seemingly Conscious AI" that can mimic and convince users they’re sentient and deserve protections, posing a risk both to society and AI development. The essay urged companies to avoid marketing AI as conscious and build AI “for people, not to be a person.”