Good afternoon,

Today’s news: Globally, flooding in Southeast Asia, Ukraine-Russia ceasefire, and updates from Israel. Locally, Inflation edges up, SKMT and Namal accounts unfrozen, and petrol and diesel prices drop nationwide.

☕ Grab your chaye, let’s go.

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

Around The World

Flooding batters Southeast Asia. Heavy rainfall has unleashed further widespread flooding and landslides across Asia, killing more than 1,000 people and creating search and rescue operations for hundreds still missing. At least 502 people have been reported killed in Indonesia, 335 in Sri Lanka, 176 in Thailand, and three in Malaysia. At the same time, Sri Lanka and Indonesia deployed military personnel to help victims of the devastating flooding. 

One step forward. A Russian attack on Ukraine has killed six people and wounded dozens of others, while emergency crews restored power to more than 400,000 households in Kyiv after strikes on the grid. President Volodymyr Zelenskyy said Russia had launched about 36 missiles and nearly 600 drones in the attack.

Meanwhile, Ukrainian officials met in the US over the weekend, and Washington officials are expected in Moscow early this week as a renewed US-led effort to end the war gains traction. US President Trump’s peace plan became public last month, sparking alarm that it was too favourable to Moscow. It was revised following talks in Geneva between the US and Ukraine a week ago. Ukraine’s President Volodymyr Zelenskyy has said the revised plan could be “workable.” Russian President Vladimir Putin called it a possible “basis” for a future peace agreement. 

Beg pardon. Angry crowds of Israelis rallied outside President Isaac Herzog’s home in Tel Aviv after Israeli Prime Minister Benjamin Netanyahu formally requested a pardon in his long-running corruption trial, arguing it was in the public interest. Netanyahu, the country’s longest-serving prime minister, has been on trial for five years on three separate cases of corruption, including charges of bribery, fraud, and breach of trust.

In a letter addressed to President Isaac Herzog, Netanyahu wrote that his trial has become “a focal point of fierce controversy”, but did not include an admission of guilt or make any commitments about his political future. He has repeatedly proclaimed his innocence on all charges.

Pakistan

Inflated. Pakistan’s inflation rose to 6.1% YoY in November 2025, slightly above the Finance Ministry’s 5–6% projection, compared to 6.2% in October and 4.9% a year earlier, with month-on-month CPI up 0.4%. Urban inflation hit 6.1% and rural 6.3%, while average inflation for 5MFY26 eased to 5.01% from 7.88% last year. The Finance Ministry had warned of renewed price pressures from food and agriculture, and brokerage houses projected even higher readings, citing flood impacts, Afghan border closures, and energy adjustments. Meanwhile, SBP Governor Jameel Ahmad said overall inflation trends remain aligned with forecasts and should stay within the central bank’s 5–7% medium-term target band.

Flagged down. A Rawalpindi anti-terrorism court on Monday ordered the unfreezing of bank accounts belonging to the Shaukat Khanum Memorial Trust (SKMT) and Namal University, which had been mistakenly frozen in connection with a case against Imran Khan’s sister, Aleema Khan, stemming from the November 26 protest. Prosecutor Zaheer Shah clarified that neither the prosecution nor the court had ever directed the freezing of these institutions’ accounts; the confusion arose when the State Bank flagged them during a search based on Aleema’s CNIC. 

While the court restored the accounts of SKMT and Namal University, both founded by Imran, it upheld the freeze on Aleema’s personal and business accounts. The closure of SKMT’s accounts had sparked public criticism due to fears over disruptions to cancer treatment services, though the hospital assured that patient care would remain unaffected. 

Fully fueled. Pakistan has lowered petroleum prices for the next two weeks, cutting petrol by Rs2 to Rs263 per litre and high-speed diesel by Rs4 to Rs279, the Petroleum Division announced on Sunday. The government adjusts fuel prices fortnightly based on global market trends, currency movements and OGRA recommendations to reflect import cost changes.

What Else Is Happening?

🛒US shoppers spent a record $11.8 billion online, up 9.1% from 2024 on the year's biggest shopping day, according to Adobe Analytics, as shoppers bypassed crowded stores and turned to chatbots to compare prices and secure discounts amid concerns about tariff-driven price hikes.

💍Australian Prime Minister Anthony Albanese married his partner Jodie Haydon in a secretive and intimate ceremony in Canberra, becoming the first prime minister to marry while in office in the 124-year history of the Australian federal government.

🖼️A long-lost painting by Baroque master Peter Paul Rubens, sold at 2.3 million euros ($2.7 million) at an auction in Versailles. The painting was recently found in a private townhouse in Paris. It depicts the crucifixion of Jesus Christ.