Meta Platforms’ popular messaging service, WhatsApp, has been prohibited from all United States House of Representatives devices, effective Monday, according to an internal memo distributed to House staff. The ban cites “high risk” security concerns related to the application’s data handling and encryption practices. The notice from the chief administrative officer, issued by the Office of Cybersecurity, stated that WhatsApp poses a significant risk to users “due to the lack of transparency in how it protects user data, absence of stored data encryption, and potential security risks involved with its…
Read MoreDay: June 24, 2025
Ceasefire, falling oil prices fuel sharp recovery at PSX
Investor sentiment soared on Tuesday as hopes for regional stability and easing oil costs sparked a rebound at the bourse, reversing the previous session’s sharp losses. “The ceasefire and the subsequent plunge in oil prices have triggered the rally today,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. “The falling oil prices and the ending of the threat of a prolonged conflict in the Middle East has calmed the markets. They are giving investors the confidence to re-enter the market.” The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged to…
Read MoreOil falls 6% as Iran focuses retaliation on US military base
Oil prices tumbled $5 a barrel, or over 6%, on Monday after Iran attacked a US military base in Qatar in retaliation for US attacks on its nuclear facilities at the weekend, and took no action to disrupt oil and gas tanker traffic through the Strait of Hormuz. Brent crude futures LCOc1 were down $4.90, or 6.3%, at $72.19 a barrel by 2:13pm ET (1813 GMT). US West Texas Intermediate crude (WTI) CLc1 eased $4.60, or 6.2%, to $69.23. Global benchmark Brent had kicked off the week with nearly 6%…
Read MoreGovt explores alternatives for oil imports if Strait of Hormuz closes
Federal Minister for Petroleum Ali Pervaiz Malik on Monday confirmed that the government was mulling alternative routes for oil imports if the Israel-Israel conflict lead to closure of the Strait of Hormuz. His statement came after Iran initiated moves to block the strait in response to the US strikes on nuclear sites which increased tensions in the Middle East. Speaking to Geo News, Malik said that the government was reviewing the situation of petroleum products daily amid the evolving regional situation. Rejecting reports of fuel rationing, he assured that the country…
Read More‘Balanced’ budget targets growth, fairness, and fiscal discipline, says FinMin
ISLAMABAD: The FY2025–26 budget strikes a balance between relief and reform, Finance Minister Muhammad Aurangzeb said Monday, highlighting measures to ease public burden, support industry, boost revenue, and ensure fair taxation for long-term, export-driven growth. While concluding the debate on the general discussion of the budget, the minister announced several tax and relief measures that were incorporated into the budget following suggestions from the finance committees of both the National Assembly and the Senate. He said the government was committed to economic stability amid regional uncertainty. Aurangzeb said the government…
Read MoreYounger generation of collectors expected to boost art market
A new generation of collectors is expected to boost the global art market, which is not immune to the current geopolitical and economic pressures. The world’s leading contemporary art fair, Art Basel, saw some significant deals last week. One such deal was made by London’s Annely Juda Fine Art gallery, which sold a David Hockney work for between $13 and $17 million without revealing the precise amount. The David Zwirner gallery sold a sculpture by Ruth Asawa for $9.5 million and a Gerhard Richter painting for $6.8 million. An Art…
Read MoreWEF sounds alarm over mounting global instability
President and CEO of the World Economic Forum (WEF) Borge Brende warned Tuesday that the world is grappling with its “most complex” geopolitical and geo-economic landscape in decades, a situation that is significantly “impacting global growth”. Brende issued the stark warning ahead of the multilateral forum’s meeting in the northern Chinese city of Tianjin, often referred to as the “Summer Davos.” “It is the most complex geopolitical and geo-economic backdrop we’ve seen in decades,” Brende told AFP on Tuesday. He further cautioned that a failure to revive economic expansion could unfortunately lead…
Read MoreIran’s Araqchi says if Israel stops attacks on Iran, Tehran has no intention of responding
In order to clear the air, Iran’s Foreign Minister Abbas Araqchi said early on Tuesday that there was no “agreement” on any ceasefire between Israel and Iran. But he added that if Israel stopped its “illegal aggression” against the Iranian people no later than 4 a.m. Tehran time (0030 GMT) on Tuesday, Iran had no intention of continuing its response afterwards. “The final decision on the cessation of our military operations will be made later,” Araqchi added in a post on X. “The military operations of our powerful Armed Forces…
Read MoreRegional countries denounce Iran’s attack on US base in Qatar
Saudi Arabia, United Arab Emirates, Egypt and other regional countries condemned Iran’s missile attacks on the US military base in Qatar. Iran launched missile attacks on the US Al Udeid Air Base in the Gulf state, the largest American military facility in the region. The attack — described by Iran’s military as “devastating and powerful” — marked a major escalation in the widening conflict. Riyadh lambasted Iran for its “unjustifiable” attack on a US base in Qatar, offering to deploy “all its capabilities” to support Doha, with whom it has…
Read MoreUN powers, funding under a cloud as it turns 80
The United Nations is facing a flurry of criticism as it marks its 80th anniversary and attempts to persuade a divided and war-torn world that it is more important than ever, despite its budget in ruins and its power discredited. The 193 member states of the United Nations will commemorate on Thursday the signing of the UN Charter, the organisation’s founding document, in San Francisco on June 26, 1945. On October 24, the UN was formally established following ratification. The anniversary comes as the world body faces a multi-faceted crisis…
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