Good afternoon,

Today’s news: Globally, updates from Gaza, Trump meets Xi, and Hurricane Melissa devastates the Caribbean nations. Locally, the World Bank flags Pakistan’s $60B export gap, court upholds an arrest warrant for Gandapur, and the defense minister warns the Taliban after peace talks collapse.

☕ Grab your chaye, let’s go.

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

Around The World

Updates from Gaza. Israeli strikes in Gaza have killed at least 104 people, including dozens of children, marking the deadliest day since the beginning of the ceasefire. The Israeli military said it struck dozens of terror targets and terrorists in response to violations by Hamas of the US-brokered ceasefire deal, while Israel's defense minister accused Hamas of an attack in Gaza that killed an Israeli soldier, and of breaching the terms of returning deceased hostages' bodies.

Hamas rejected what it called the "baseless allegations" and accused Israel of "seeking to fabricate false pretexts in preparation for taking new aggressive steps". Meanwhile, the Israel Defense Forces (IDF) said that it had begun the renewed enforcement of the ceasefire after carrying out strikes on terror targets and terrorists, including at least 30 commanders of armed groups.

Meet your match. US President Donald Trump and Chinese leader Xi Jinping are scheduled to hold a high-stakes summit in South Korea today, as the two nations struggle to resolve a long-standing trade conflict. Tensions have flared again in recent weeks over Washington’s expansion of export controls and China’s tightening of rare earth export curbs, as the tit-for-tat escalation prompted Trump to vow new 100% tariffs on Chinese goods starting on November 1.

No entry. Venezuela has declared the Prime Minister of Trinidad and Tobago a persona non grata amid ongoing tensions between the two countries over US military activity in the Caribbean Sea. The two nations have been in conflict in recent weeks regarding the presence of US military forces in the region. PM of Trinidad and Tobago applauded the build-up of US military forces in the Caribbean as well as its bombing campaign against alleged drug-trafficking boats. This stance has put her at odds with Maduro’s government.

Melissa. Hurricane Melissa made landfall in eastern Cuba near the city of Chivirico early Wednesday as a Category 3 storm after pummeling Jamaica as one of the strongest Atlantic hurricanes on record. The hurricane's impact has been brutal as severe flooding hit the streets in Cuba, along with extensive damage to homes, hospitals, and schools in southwestern Jamaica. Melissa is responsible for seven deaths: three in Jamaica, three in Haiti, and one in the Dominican Republic.

Pakistan

Bad all over. The World Bank’s latest Pakistan Development Update warned that Pakistan’s exports have fallen to just 10.4% of GDP (down from 16% in the 1990s), leaving the economy dependent on debt and remittances, and exposing an untapped export potential of nearly USD 60 billion. The decline, driven by high tariffs, costly energy, weak logistics, and regulatory hurdles, has left Pakistan lagging behind India and Bangladesh. 

While the government has launched an ambitious National Tariff Policy aimed at halving average tariffs by 2030, the Bank suggests that deeper reforms are necessary, including a market-based exchange rate, enhanced trade finance, improved infrastructure, and digital expansion.

Locked in. An Islamabad district and sessions court on Wednesday upheld the non-bailable arrest warrant for former KP chief minister and PTI leader Ali Amin Gandapur in a 2016 arms and liquor case after he again failed to appear in court. The warrant directs authorities to arrest and present him at the next hearing on November 11. Gandapur has denied the allegations and called the case politically motivated.

Straighten up. Pakistan’s Defense Minister Khawaja Asif warned the Afghan Taliban that Islamabad could “completely obliterate” their regime if militant attacks from Afghan soil continued, following the collapse of Türkiye-mediated peace talks in Istanbul. The four-day negotiations ended without a deal as Pakistan accused Kabul of failing to curb Tehreek-e-Taliban Pakistan (TTP) fighters allegedly operating from Afghanistan. Asif accused the Taliban of fueling conflict for a “war economy” and allowing India to wage a proxy war through Kabul, warning that any further attacks on Pakistan would provoke severe retaliation. 

What Else Is Happening?

🍏Apple just became one of the few publicly traded companies to surpass $4 trillion in market value, joining fellow tech giants Nvidia and Microsoft. Apple shares rose 0.1% Tuesday, buoyed by strong iPhone 17 sales – including in China, a key market where the company has previously underperformed.

📚Elon Musk launched Grokipedia – his version of Wikipedia. Musk’s Grok AI writes the articles molded to his views. However, Grokipedia is currently far smaller, with just over 800,000 articles, compared to Wikipedia’s more than 7 million.