Good afternoon,

Today’s news: Globally, updates from Iran, Ukraine, and India. Locally, PSX crashes over 3,500 points amid geopolitical tensions, PM Shehbaz pushes digital payments, and a new EV policy targeting 30% green vehicles by 2030.

☕ Grab your chaye, let’s go.

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Around The World

Update from Iran. 

• Iran's military has vowed a decisive response, a day after US strikes hit Iranian nuclear sites and Israel carried out "one of the most intense attacks" overnight on Iran's military infrastructure.

• Donald Trump says the US caused "monumental damage" to the facilities, despite the UN's inability to determine the exact degree of impact. The UN’s nuclear watchdog says there have been no reports of increased off-site radiation levels following the US bombardment of the Fordow, Natanz, and Isfahan sites.

• Trump has also floated the possibility of leadership change in Iran, saying: "If the current Iranian regime is unable to make Iran great again, why wouldn't there be regime change?" Israel has also revealed its plans to continue the attacks, owing to other unfulfilled purposes.

• Hundreds of people protested in the Hague, Netherlands, against NATO and increased military spending in advance of a summit, as Iran’s conflict with Israel and the United States intensifies by the day. Protests against the attacks were also recorded in Iran, Pakistan, France, Greece, and many other nations.

• Iran's foreign minister is in Moscow for talks with Putin about common challenges and threats, as the UK's foreign secretary is urging Iran not to escalate its response. Meanwhile, the US has asked China to put pressure on Iran not to close the Strait of Hormuz, which is a critical shipping route and could escalate the conflict to a point of no return.

• Iran says more than 400 people have been killed and at least 3,056 others wounded since Israel launched its attack. In Israel, at least 24 people have been killed in Iranian strikes.

Get live updates on the war, here and here.

Update from Ukraine. At least 7 people were killed and several injured in an overnight Russian missile and drone attack in Kyiv, hitting residential areas, hospitals, and sports infrastructure. In recent weeks, Russia has been carrying out massive aerial attacks on Ukrainian cities. Ukrainian President Volodymyr Zelenskyy said that he would travel to London to discuss the conflict later today.

Water for your thoughts. Indian federal Home Minister Amit Shah says that India will never restore the Indus Waters Treaty with neighboring Pakistan, and the water flowing there will be diverted for internal use. India has put its participation in the 1960 treaty, which governs the usage of the Indus River system, into abeyance after 26 people were killed in Indian-occupied Kashmir in April, in what New Delhi described as an act of terror backed by Pakistan.

Pakistan

Trading tumble. The Pakistan Stock Exchange (PSX) experienced significant selling pressure on Monday as escalating geopolitical tensions triggered investor panic, causing the KSE-100 Index to plummet by over 3,500 points during intra-day trading. Key sectors, including oil and gas, automobiles, power, and banking, saw widespread losses, with heavyweights like OGDC and PSO trading in the red. 

Desi digitalized. Prime Minister Shehbaz Sharif has formed three sub-committees to advance Pakistan’s transition to a cashless economy, aiming to enhance transparency, reduce tax evasion, and modernize financial transactions. The three committees — Digital Payments Innovation and Adoption Committee, Digital Public Infrastructure Committee, and Government Payments Committee, will provide targeted recommendations to encourage digital transactions between the public, private businesses, and government institutions. Sharif also directed that the State Bank of Pakistan’s instant payment system, RAAST, be expanded across all provinces and federal institutions. He also emphasized operationalizing the Pakistan Digital Authority to lead digital transformation and highlighted the IT Ministry’s Smart Islamabad Pilot Project, which aims to make the capital Pakistan’s first cashless city.

Charge me up. Pakistan has launched its New Electric Vehicle Policy (NEVP) 2025–2030, setting an ambitious target for 30% of all new vehicle sales — including cars, buses, motorcycles, and rickshaws to be electric by 2030. The policy outlines several incentives to accelerate EV adoption, including tax breaks, subsidies, and the development of nationwide charging infrastructure. 

The transport sector is a major contributor to Pakistan’s greenhouse gas emissions and urban smog, worsening both public health and climate vulnerability. High levels of tailpipe emissions and PM2.5 pollution harm air quality and intensify climate impacts. Officials say electric vehicles, with zero tailpipe emissions, can significantly cut urban pollution, improve health outcomes, and help Pakistan meet its climate goals.

What Else Is Happening?

🤽 Chitral triumphed over Gilgit-Baltistan 9-8 in a thrilling final of the Shandur Polo Festival, with Izhar Ali Khan scoring four goals to secure victory at the world’s highest polo ground and maintaining Chitral’s winning streak since 2011.

🍏Apple was sued on Friday by shareholders in a securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price.

🥵Melting? So are we! Climate change has been exacerbating heat waves, and the problem isn’t going away any time soon. An increasingly hot planet, due largely to burning fossil fuels, means that already hot regions are getting worse. Here are some tips to stay safe in the blistering heat.