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As cross-border shelling unfolded on Wednesday following India’s missile strikes inside Pakistani territory, the rising tensions between the nuclear-armed neighbours have drawn international attention – particularly from China and the US.US President Donald Trump told reporters at the White House on Wednesday that “if I can do anything to help, I will be there” and claimed to “get along very well” with both sides.Underscoring the wider geopolitical stakes of the tensions, China has tacitly backed its long-time regional ally Pakistan, which has acknowledged deploying Chinese-made fighter jets against India’s increasingly Western-supplied arsenal.While the global powers are unlikely to become directly…

The deepening conflict between India and Pakistan may threaten food security across Asia, officials and analysts warn, with import-dependent countries raising concerns over rice supplies if the crisis disrupts trade and increases global commodity prices.India launched air strikes and missiles at Pakistan on Wednesday following last month’s deadly attack on tourists in the Indian-administered region of Kashmir.Pakistan retaliated early Thursday morning, signalling that a dangerous escalation in hostilities may be ahead.India is the world’s biggest rice exporter – with Pakistan the fourth largest – and both countries sell onions and other essential foodstuff to import-reliant Southeast Asian nations.Any prolonged conflict…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Toyota has warned operating profits will fall 21 per cent this fiscal year due to the fallout from President Donald Trump’s trade war, increasing the pressure on Japan to reach a deal on tariffs with the US. For its year ending in March 2026, the world’s biggest carmaker by vehicles sold said it expected an operating profit of ¥3.8tn ($26bn) compared with ¥4.8tn in the year just ended. The forecast “tentatively” includes an estimated US tariff impact of ¥180bn for the months of…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted a marginal decline for the fifth straight session against the US dollar, depreciating 0.02% in the inter-bank market on Thursday. At close, the local currency settled at 281.52, a loss of Re0.05 against the greenback. On Wednesday, the rupee closed the day at 281.47. Internationally, the US dollar held steady against the euro on Thursday following its biggest rise in two weeks a day earlier, when the Federal Reserve warned of rising risks to the economy from higher inflation and unemployment. The US dollar was also supported…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted a marginal decline for the fifth straight session against the US dollar, depreciating 0.02% in the inter-bank market on Thursday. At close, the local currency settled at 281.52, a loss of Re0.05 against the greenback. On Wednesday, the rupee closed the day at 281.47. Internationally, the US dollar held steady against the euro on Thursday following its biggest rise in two weeks a day earlier, when the Federal Reserve warned of rising risks to the economy from higher inflation and unemployment. The US dollar was also supported…

WASHINGTON (AP) — The United States and Britain are expected to announce a trade deal on Thursday that will lower the burden of President Donald Trump’s sweeping tariffs and potentially deliver a political victory for Prime Minister Keir Starmer.Trump said on Wednesday that he would announce a “major trade deal” with a “big, highly respected country,” which he did not identify. A U.S. official confirmed the country was Britain, speaking on condition of anonymity to discuss talks before an announcement.Starmer’s office said the prime minister would give an “update” about U.S. trade talks later in the day.“As you know, talks…

This article is an on-site version of our Europe Express newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday and fortnightly on Saturday morning. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. European capitals are calling for a pause on all decisions that could irritate Donald Trump ahead of the Nato leaders’ summit in June, officials tell the Financial Times, arguing that keeping him happy in The Hague is critical for the continent amid deep uncertainty over what the long-term Nato sceptic will say or do there.Today, our climate and…

Selling pressure gripped the Pakistan Stock Exchange (PSX) on Thursday, with the benchmark KSE-100 Index shedding nearly 6,500 points — the largest single-day decline in terms of points — amid rising geopolitical tensions. The benchmark KSE-100 index plunged by 6,482.21 points, or 5.89%, to stand at 103,526.81. Trading was earlier halted at the PSX for an hour after the benchmark index plummeted by nearly 7,000 points, triggering the suspension, only to drop another 1,400 points when trading resumed, hitting an intra-day low of 101,598.90. “If tensions escalate further than selling pressure will persist until clarity is achieved,” Sana Tawfik, Head…

Millions of Pakistanis, riled up by government vows of revenge which social media pundits predicted were imminent, spent a tense night waiting for a second round of aerial clashes with India.The tension was palpable as the witching hour approached.At around 11pm on Wednesday, Pakistani military-linked social media accounts put out alerts claiming warplanes on both sides had taken off.Revenge for India’s air strikes the previous night was nigh, they vowed, echoing a wartime speech made by Prime Minister Shehbaz Sharif and remarks by the military’s chief spokesman Lieutenant General Ahmed Sharif Chaudhry earlier in the evening.Indian journalists joined the fray…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldDonald Trump is planning to announce a new trade pact with the UK on Thursday, people familiar with the talks said, in what could make Britain the first in a series of countries to ease commercial tensions with Washington.Trump said in a post on his Truth Social platform on Wednesday night that a “Big News Conference” was coming “concerning a MAJOR TRADE DEAL WITH REPRESENTATIVES OF A BIG, AND HIGHLY RESPECTED, COUNTRY”.The expected UK-US deal is one of 17 agreements…