Good afternoon,

Today’s news: Globally, updates from Gaza, India, and Colombia. Locally, Pakistan braces for soaring September inflation, wheat curbs fueling flour crisis, and first-ever nationwide HPV vaccination drive launched.

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Around The World

Updates from Gaza. Dozens of Palestinians have been killed throughout the Gaza Strip as Israel launched its offensive in Gaza City on Tuesday in defiance of international condemnation, vowing to overwhelm a city already in ruins from nearly two years of war. Thousands of Palestinians fled in vehicles strapped with mattresses and other belongings that clogged a coastal road. 

The operation into the largest Palestinian city escalated a conflict that has roiled the Middle East and likely pushed any ceasefire with Hamas farther out of reach. The military would not offer a timeline for the offensive that aims to crush the group’s ability to fight, but Israeli media suggested it could take months.

My gang. Indian troops participated in the Russian-led Zapad-2025 military drills, highlighting Moscow’s close ties with New Delhi, as The Indian Ministry of Defence confirmed it had sent 65 armed forces personnel to participate in the drill. At the wargames, Russia and Belarus also rehearsed the launch of Russian tactical nuclear weapons as part of joint military exercises, which Western military analysts say the drills are designed to intimidate Europe.

Meanwhile, orders for yarn in India’s textile industry have plunged by nearly 30% in just two weeks since the US rolled out a sweeping 50% tariff on Indian goods, a two-tiered levy which took full effect on August 27 as punishment for India’s imports of Russian oil. India denounced the tariffs as unjustified, but the shock is already rippling through textile units across the country. The sector contributes about 2.3% to India’s gross domestic product (GDP), 13% to industrial production, and 12% to total exports. 

Out of smoke. The US officially named Colombia as a country which has "demonstrably failed" to uphold its obligations to control drug trafficking, but stopped short of cutting off the flow of US aid to Colombia. On Monday, the Trump administration said that cocaine production in Colombia had surged to all-time high records under Gustavo Petro’s presidency, which he denied. 

In response, the Colombian government said it would stop buying weapons from the US. President Petro took to social media to respond to the US allegation that during his time in office the area planted with coca bushes and the production of cocaine had reached record levels.

Pakistan

Up and not away. Inflation is projected to surge to 6.5–7% year-on-year (YoY) in September 2025, up from 3% in August, marking the highest level in 11 months, according to Topline Securities. The sharp rise, including a 3.1% month-on-month (MoM) increase, is driven by flood-induced food supply disruptions, with major spikes in tomatoes (+122%), wheat (+49%), wheat flour (+39%), and onions (+35%). 

While electricity charges fell 2.19% MoM due to tariff and fuel adjustments, housing costs declined slightly, partly offset by higher LPG prices. The State Bank has kept its policy rate at 11%, warning of flood-related risks, as real interest rates now stand at 400–450bps, above historical averages, while global commodity prices remain a key uncertainty for inflation trends.

Grain drain. Punjab’s restrictions on interprovincial wheat movement, denied as a formal ban but enforced through checkpoints, have triggered a flour crisis with prices in KP soaring to Rs. 2,800 per 20kg bag compared to Rs. 1,800 in Punjab. Politicians and the Pakistan Flour Mills Association condemned the move as unconstitutional and against deregulation agreements, while officials defended it as necessary to secure food supplies and curb hoarding. Critics argue the policy creates artificial shortages, undermines investment, and risks forcing costly imports, while discouraging farmers from planting wheat in the next season. 

Rollout. Pakistan has launched its first nationwide HPV vaccination campaign to combat cervical cancer. The program aims to immunize over 13 million girls aged 9–14 with a free, single dose of the Chinese-made Cecolin vaccine. Backed by Gavi, WHO, UNICEF, and civil society groups, the campaign is part of a global effort to eliminate cervical cancer by 2030, with a target of vaccinating 90% of girls. However, the drive faced challenges on its first day when 4,824 parents refused consent, though 24,179 girls were vaccinated. Authorities aim to cover nearly 400,000 girls by September 27. 

Despite resistance rooted in limited awareness and myths around fertility and religion, officials continue urging families to protect their daughters, assuring them of the vaccine’s safety and effectiveness as a one-time shield against cervical cancer. The disease is Pakistan’s third most common cancer among women, with more than 5,000 new cases annually. Survivors and advocates stress the importance of vaccination alongside improved screening to address misinformation, silence, and delayed diagnoses.

What Else Is Happening?

⏲️Donald Trump has announced a deal with China to allow the TikTok platform to continue operating in the US. According to the deal, several US-based VC firms, private equity funds, and tech companies will own roughly 80% stake in TikTok, with Chinese shareholders holding the rest.

🤑Microsoft says its new $30bn investment in the UK's AI sector - its largest outside of the US - should significantly boost Britain's economy in the next few years. The package forms a major part of a £31 billion agreement, which will see Google, Nvidia, and other tech firms invest in British-based infrastructure and data centers.