TEHRAN: Iran’s official IRNA news agency is reporting that the country’s foreign ministry has summoned the Pakistani envoy to protest an attack on Iranian guards near the border with Pakistan that left nine dead.
The Friday report said the Iranian side demanded “essential and serious” action by Pakistan to punish the “terrorists” and applying measures to prevent such incidents in the future.
Iran says the attackers opened fire Wednesday from the Pakistan side on the guards and killed nine. An earlier report put the death toll at 10. Three others were injured.
The area in southeast Iran is the scene of occasional clashes between Iranian forces and the Sunni militant group Jaish-ul-Adl, as well as armed drug traffickers. It lies on a major drug smuggling transit route.
Iran summons Pakistani envoy over attack on borders guards
Iran summons Pakistani envoy over attack on borders guards
Pakistan’s Punjab province shuts public spaces in smog-hit cities
- Access to parks, zoos, playgrounds, historic monuments, museums and recreational areas banned until November 17 due to poor air quality
- Punjab residents have been trapped in thick smog for over a week ever since the air quality index spiked above 1,000
LAHORE, Pakistan: Pakistan’s most populated province of Punjab ordered public spaces closed in smog-hit main cities, authorities said Friday, as the country battles record air pollution.
Access to parks, zoos, playgrounds, historic monuments, museums and recreational areas will be banned until November 17 due to poor air quality, according to a local government directive seen by AFP.
The concentration of fine particulate matter (PM2.5) in Lahore’s air was more than 20 times higher than the level deemed acceptable by the World Health Organization (WHO). In Multan, it was up to 48 times higher on Friday.
Punjab residents have been trapped in thick smog for over a week ever since the air quality index (AQI), which measures a range of pollutants, spiked above 1,000 — well above the level of 300 considered ‘dangerous’ — according to data from IQAir.
Schools in some of Punjab’s major cities were ordered shut on Tuesday until November 17.
The province extended that order on Wednesday to several more cities enveloped by smog, a mix of fog and pollutants caused by low-grade diesel fumes, smoke from seasonal agricultural burning and winter cooling.
The decision follows restrictions imposed last month on four “hot spots” in Lahore that banned tuk-tuks with polluting two-stroke engines, along with restaurants that operate barbecues without filters.
Seasonal crop burn-off by farmers on the outskirts of Lahore also contributes to toxic air, which the WHO says can cause strokes, heart disease, lung cancer and respiratory diseases.
Excess pollution shortens the life expectancy of Lahore residents by an average of 7.5 years, according to the University of Chicago’s Energy Policy Institute.
According to UNICEF, nearly 600 million children in South Asia are exposed to high levels of air pollution, which is also linked to half of childhood pneumonia deaths.
Pakistan can serve as bridge between China and US, says Islamabad’s envoy to Washington
- Relations between the US and China have been strained over the past several years as both world powers seek to increase their global influence
- The complex US-China rivalry impacts Pakistan as it navigates its strategic partnerships with both while grappling with a prolonged economic crisis
ISLAMABAD: Pakistan can help bridge differences between the United States (US) and China, Islamabad’s envoy to Washington said on Thursday, amid the South Asian country’s efforts to strike a balance in its ties with the two world powers.
Relations between the US and China have been strained over the past several years as both world powers seek to increase their global influence in several domains. The two nations have often had disagreements over trade, Taiwan, the South China Sea and China’s Belt and Road Initiative.
Pakistan maintains a delicate balance in its relations with China and the US. While aligned with the US for military cooperation and counter-terrorism efforts, Islamabad has strengthened economic ties with Beijing through initiatives like the China-Pakistan Economic Corridor (CPEC).
In a talk delivered at the University of California, Pakistan’s Ambassador to Washington Rizwan Saeed Sheikh underscored the strength of Pakistan-US relations and highlighted the role of the Pakistani-American community in fostering mutual growth, the state-run Radio Pakistan broadcaster reported.
“Pakistan has the potential to serve as a bridge between China and the United States,” Sheikh was quoted as saying at the event.
The statement came hours after the Pakistani Foreign Office said its relations with key longtime ally China would remain “unaffected” by Donald Trump winning the US presidential election
“Pakistan’s relations with China are all-weather,” Foreign Office Spokesperson Mumtaz Zahra Baloch said during a weekly press briefing when asked if Trump’s victory will affect the country’s China policy.
“They are strategic and a source of stability in our foreign policy.”
Baloch said Islamabad does not even need to consider the possibility that its relationship with China will be affected by any domestic development in another country.
The complex US-China rivalry impacts Pakistan as it navigates its strategic partnerships with both world powers while grappling with a prolonged economic crisis.
“Our relations with the United States are decades old, and we look forward to further strengthen and broaden Pakistan-US relationship in all fields,” Baloch said.
“As the Deputy Prime Minister said in a tweet yesterday, we look forward to fruitful and mutually beneficial cooperation between Pakistan and the United States.”
Pakistan and the US cultivated strong defense ties during the Cold War days yet their relationship was also tested by divergent priorities on various issues.
In recent years, Washington and Islamabad’s ties deteriorated as the former suspected the latter of supporting the Taliban in their 2021 takeover of Kabul, allegations which Islamabad rejected. Tensions rose further in 2022 when former Pakistan Prime Minister Imran Khan accused the Biden administration of orchestrating his ouster via a parliamentary vote, a charge the US denied.
Pakistan, under PM Shehbaz Sharif’s two separate stints as prime minister in 2022 and 2024, has actively sought to improve its relations with the US.
Pakistan parliamentary panel passes bill proposing three-year jail term for preaching Zionism
- Draft law proposes imprisonment and fines for individuals involved in preaching and displaying symbols of Zionism
- Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state
ISLAMABAD: Pakistan’s Senate Standing Committee on Interior has this week approved a bill proposing a three-year jail term and fines for individuals involved in propagating Zionism or displaying the movement’s symbols.
Zionism emerged in the late 19th century as an ethnic and religious movement but later converted into a political movement for the establishment of the Jewish state of Israel through the colonization of land outside Europe, which is Palestine.
Pakistan does not recognize nor have diplomatic relations with Israel and calls for an independent Palestinian state based on “internationally agreed parameters” and the pre-1967 borders with Al-Quds Al-Sharif as its capital.
The anti-Zionism bill approved by the Senate committee on Thursday was introduced in the upper house of parliament by Senator Dr. Afnan Ullah Khan, a lawmaker from the ruling Pakistan Muslim League-Nawaz party. He has tabled the bill as a private member, which means its approval does not signify government policy. This bill will become law only if it is passed by both houses of parliament, Senate and National Assembly, with majority vote.
“Whoever knowingly or intentionally is engaged in the preaching of Zionism to incite and provoke hatred in society shall be punished with three years imprisonment, or with forty thousand rupees ($145) fine or with both,” says the draft law.
“Whoever knowingly or intentionally display symbol of Zionism to spread hatred and cause a disturbance in public peace shall be punished with two years imprisonment, or with thirty thousand rupees ($108) fine, or with both.”
Being a Muslim state, the bill says, Pakistan “should never allow display of symbols depicting Zionism for spreading unrest in Pakistan.”
Turkiye’s foreign minister visits Athens to help mend ties between the regional rivals
- Both NATO members, Greece and Turkiye have been at loggerheads for decades over a long series of issues
ATHENS, Greece: Turkiye’s Foreign Minister Hakan Fidan arrived Friday in Athens for meetings with his Greek counterpart as part of efforts to ease tension between the two neighbors and regional rivals.
Both NATO members, Greece and Turkiye have been at loggerheads for decades over a long series of issues, including volatile maritime boundary disputes that have twice led them to the brink of war. The two have renewed a diplomatic push for over a year to improve ties.
“Step by step, we have achieved a level of trust so that we can discuss issues with sincerity and prevent crises,” Greek Foreign Minister George Gerapetritis said in an interview with Turkiye’s Hurriyet newspaper published Thursday.
The meeting between the two foreign ministers follows a series of high-profile talks between Greek Prime Minister Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdogan as part of a relation-mending initiative launched in 2023.
Officials in Athens are expected to raise concerns about rising illegal migration, as Greece has seen an uptick in arrivals. And, despite deep disagreements on Israel and fighting in the Middle East, both foreign ministers are also expected to explore ways to improve regional stability.
The talks will help set the stage for a Greece-Turkiye high-level cooperation council planned for early 2025 in Ankara, Turkiye.
Startup Wrap – Saudi VC space continues to play pivotal role in SMEs growth as Biban 24 delivers deals
RIYADH: Saudi Arabia’s venture capital ecosystem continues to boost the regional startup space, with one company plowing $20 million into the early stage-focused Booster IV fund.
Saudi Venture Capital Co. announced it was pouring the money into the fund, which is managed by Beco Capital and focuses on investments across the Gulf region.
Booster IV aims to support high-growth or disruptive startups, targeting companies from the seed stage up to series A.
The fund’s investment strategy spans various sectors with a strong emphasis on Saudi Arabia and the broader Gulf region, and currently oversees $495 million in assets across four funds.
“Our investment in Booster IV, managed by Beco Capital, aligns with our fund investment program and our strategy to support funds that back early stage startups in Saudi Arabia,” said Nabeel Koshak, CEO and board member of SVC.
Established in 2018, SVC is a subsidiary of the SME Bank, part of Saudi Arabia’s National Development Fund.
The company is dedicated to stimulating and sustaining financing for startups and small and medium-sized enterprises, supporting them from the pre-seed stage up to pre-IPO through funding and co-investments in high-potential startups.
Saudi’s BIM Ventures and Japan’s SBI Holdings launch $2bn-targeted BIM Capital
Saudi Arabia-based venture studio BIM Ventures and Japan’s SBI Holdings have launched a joint venture aiming to drive growth across Saudi Arabia and the broader Middle East.
BIM Capital’s investment strategy spans private equity, venture capital, debt funds, and real estate development, with a target of attracting over $200 million in foreign direct investment and managing assets exceeding $2 billion.
The firm will leverage its expertise to identify high-growth sectors, with a particular emphasis on technology ventures, emerging industries, and real estate development, offering investors access to innovative, transformative opportunities.
Mush Social raises $1.2m in pre-seed funding led by Nifal Consulting
Saudi-based Mush Social has closed a $1.2 million pre-seed funding round led by Nifal Consulting, with support from Nahr Al-Jazeera Holding and angel investors.
Founded in 2022 by Abdulhadi Al-Asmi, Mush Social operates a social platform where users can earn points and own virtual assets through its interactive map feature, potentially monetizing their online interactions.
The funds will support the development of advanced technologies to enhance user value from their engagements on the platform.
Ayen acquires Egyptian contech Elmawkaa in seven-figure deal
Saudi property tech company Ayen has acquired Egyptian construction technology firm Elmawkaa in a seven-figure Saudi riyal transaction.
Founded in 2018 by Abdulrahman Al-Mulqi, Ali Al-Mohsen, and Aymen Al-Sarory, Ayen provides data-driven property evaluation solutions.
The acquisition will integrate Elmawkaa’s construction materials marketplace into Ayen’s platform, strengthening its market position across the Gulf Cooperation Council region.
Elmawkaa, established in 2017, offers a digital marketplace for competitive quotations on building materials, aimed at streamlining procurement for construction companies.
Aramco Ventures backs IOTA Software’s $10.4m series A2 round
Aramco Ventures has joined a $10.4 million Series A2 funding round for IOTA Software, a cloud-native platform for industrial performance optimization, led by Altira Group with participation from Oxy Technology Ventures and Second Avenue Partners.
The funds will enable IOTA to expand its engineering, product, and customer success teams, enhance its technology infrastructure, and strengthen marketing efforts. IOTA’s platform aggregates business and operations data to aid decision-making across industrial sectors.
Warburg AI secures $250k in seed funding for financial AI solutions
UAE-based Warburg AI has raised $250,000 in seed funding from undisclosed investors.
Founded in 2024 by Ben Pfeffer, Lancelot De Briey, and Madiyar Ismagulov, Warburg AI develops adaptive artificial intelligence and machine learning tools for financial institutions, with a focus on algorithmic trading, real-time risk management, and asset optimization.
The capital will be directed toward product development and expansion of its customer solutions team.
Brands.io raises seed funding to expand AI-focused domain services
UAE’s Brands.io, an AI-driven domain name provider, has raised an undisclosed amount in seed funding from unnamed investors.
Founded in 2024 by Chetan Gera, Brands.io offers customized domain names tailored for AI companies.
The investment will fuel platform development, add technical features, and support the company’s expansion into Europe, the Middle East, and Africa, with a strong focus on strengthening its GCC presence.
NorthLadder raises $10m in series B for expansion in pre-owned electronics market
UAE-based NorthLadder, a trade-in platform for pre-owned electronics, has raised $10 million in a Series B funding round led by stc Group’s corporate venture capital arm, tali ventures, with additional contributions from the Dutch Founders Fund and Crescent Ventures.
Founded in 2021 by Mihin Shah and Sandeep Shetty, NorthLadder offers a secure platform for reselling pre-owned devices, addressing growing demand in this sector.
With the new capital, NorthLadder plans to enhance its technology and expand its presence, particularly in Europe.
CE-Ventures co-leads $10m funding round for CrossBridge Bio’s cancer therapies
UAE-based CE-Ventures, the corporate venture capital arm of Crescent Enterprises, has co-led a $10 million funding round for CrossBridge Bio, a Houston-based biotech firm focused on developing dual-payload antibody drug conjugates for targeted cancer treatments.
The round also included participation from TMC Venture Fund, Portal Innovations, Alexandria Ventures, and several pre-seed investors.
The investment will support the advancement of CrossBridge Bio’s lead candidate, CBB-120, which targets solid tumors.
Additionally, the funding will enable the company to expand its pipeline of dual-payload ADCs and further develop its proprietary linker technology, which it claims could bring a new level of precision to cancer therapy.
Saudi Arabia’s signature startup event Biban 24 sees deals to support SMEs
Biban 24, Saudi Arabia’s premier event for startups and SMEs, saw over $5 billion in agreements and financing initiatives signed during the first three days.
Organized by the General Authority for Small and Medium Enterprises, or Monsha’at, the Riyadh-based forum secured more than 40 agreements and numerous financing portfolios aimed at bolstering Saudi Arabia’s SME sector in alignment with Vision 2030 goals.
These deals, amounting to more than SR18 billion ($4.79 billion) on the first day, SR1.35 billion on the second, and SR580 million on day three, included partnerships with leading Saudi banks, international memoranda of understanding, and investment opportunities designed to enhance access to funding and expand support networks for SMEs.
The event, themed “A Global Destination for Opportunities,” underscores Monsha’at’s commitment to creating a conducive environment for SMEs to thrive, positioning them as key drivers of economic diversification.
