Good afternoon,

Today’s news: Globally, updates from Gaza, Ukraine, and China. Locally, the govt plans to penalize cash payments in Budget 2025–26, the KKH remains blocked amid protests in Gilgit-Baltistan, and the region reports its first-ever polio case.

☕ Grab your chaye, let’s go.

P.S. First time reading? Subscribe here for free.

Around The World

Talk, talk, boom. Russia and Ukraine are set to hold ceasefire talks today, a day after Kyiv carried out unprecedented drone attacks across Russia. Airbases and jets in five Russian regions came under attack, Russia’s Defense Ministry said on Sunday, adding that attacks were repelled and there were no casualties.

The second direct talks in over two weeks come as the two sides have escalated attacks. Explosions caused two bridges to collapse in Russia on Sunday, and at least 12 soldiers were killed in a Russian missile attack on a military base in Ukraine’s Dnipro region.

Updates from Gaza. Israeli forces have killed 54 people in Gaza and destroyed the only facility for kidney dialysis patients in the north of the enclave. Israel has bombed and burned at least 36 hospitals across the Strip since the war began, although such attacks are considered a war crime under the 1949 Geneva Convention.

Meanwhile, the UN and other aid groups denounced Israeli killings of dozens of starving Palestinians seeking food near distribution points set up by the US-backed Gaza Humanitarian Foundation. Egypt and Qatar have also announced new efforts to secure a ceasefire deal based on a US-backed proposal for a 60-day truce and the entry of humanitarian aid. Get live updates here.

Poking the panda. China has warned the US against playing with fire over Taiwan in response to Defense Secretary Pete Hegseth calling the Asian power a “threat to the region” at the Shangri-La Dialogue in Singapore. Hegseth said China was credibly preparing for military action to shift Asia’s power balance, accusing Beijing of rehearsing a potential invasion of Taiwan. Beijing accused Hegseth of vilifying China with defamatory allegations and promoting a “Cold War mentality.”

Pakistan

Cash me if you can. In its upcoming 2025–26 budget, the federal government is set to escalate its campaign against the cash economy by introducing a dual pricing system that makes cash transactions more expensive. For example, under the proposed measures, petrol bought with cash may cost an additional Rs. 2–3 per litre, with all fuel stations required by law to offer digital payment options such as QR codes, debit/credit cards, and mobile wallets. These steps are part of a broader push to formalize the economy and reduce tax evasion, which the finance minister estimates leads to over Rs. 7 trillion in annual losses. The move is also expected to shift the tax burden away from the salaried and documented segments, who may receive a modest tax cut of 1–1.5%. 

Blocked & bordered. Protests in Gilgit-Baltistan against federal trade policies have intensified, with the Karakoram Highway blocked for a third straight day. Led by the Pak-China Traders Action Committee and backed by political parties, the sit-in at Gulmat Nagar has drawn widespread support. Traders say the months-long suspension of cross-border trade has devastated livelihoods in a region with few job opportunities outside the informal economy. They accuse the FBR of enforcing exploitative policies that have “economically murdered” locals. 

Protesters are demanding the clearance of over 240 consignments stuck at Sost Dry Port, a one-time amnesty, and the revival of barter trade with China under a 1985 agreement. Talks with GB officials have failed, with authorities admitting the issue lies with Islamabad. Meanwhile, thousands of travelers remain stranded on both sides of the KKH, as protesters refuse to end the blockade until their demands are met.

Unwelcome visitor. Gilgit-Baltistan has reported its first-ever case of poliovirus, bringing Pakistan’s national total to 11 in 2025, as we remain one of only two countries globally where polio is still endemic. The case involves a 23-month-old child from Diamer's Tangir area, with the virus strain traced to Karachi’s Liaquatabad, despite the child having no travel history. Although the child received oral polio drops, essential birth vaccines were missed.

What Else Is Happening?

⚽Paris Saint-Germain beat Inter Milan 5-0, a record in the Champions League final, to be crowned kings of European football in Munich on Saturday.

🐍Authorities in India have arrested a man for trying to smuggle dozens of rare reptiles, including 47 venomous snakes, into the country.