Iranian Foreign Minister Abbas Araqchi arrived in Islamabad for a one-day visit, amid rising tensions with India over an attack on tourists in Indian Illegally Occupied Jammu and Kashmir (IIOJK). Pakistan denies involvement in the deadly attack, which India claims to have "credible intelligence" on. Araqchi's visit comes as Pakistan seeks ways to reduce tension with both India and Iran, with whom it has close relations. He will also meet with Indian officials later this week, where they are expected to discuss regional and global developments.
https://www.brecorder.com/news/40361065/irans-foreign-minister-arrives-in-islamabad-amid-india-pakistan-standoffIranian Foreign Minister Abbas Araghchi arrived in Pakistan on May 5, 2025, for a day-long visit to discuss regional and global developments with President Asif Ali Zardari, Prime Minister Shehbaz Sharif, and Deputy Prime Minister Mohammad Ishaq Dar. The visit comes amid tensions between India and Pakistan following the deadly Pahalgam terror attack in Jammu and Kashmir on April 22, which killed 26 people. Araghchi had previously offered to defuse tensions by using Iran's good offices in Islamabad and New Delhi.
https://www.thehindu.com/news/international/iranian-fm-araghchi-arrives-in-pakistan-ahead-of-trip-to-india/article69540091.eceMalaysia is launching a RM1 billion financial lifeline to support small and medium-sized enterprises (SMEs) affected by US tariffs, announced Prime Minister Datuk Seri Anwar Ibrahim. The government will provide an additional RM500 million in soft financing through financial development institutions. This move aims to cushion the impact of US tariffs on Malaysia's trade with the US, which accounts for 11% of the country's RM325 billion in trade last year.
https://www.malaymail.com/news/malaysia/2025/05/05/anwar-pledges-rm1b-lifeline-for-malaysian-smes-amid-us-trade-pressure/175617India and Pakistan are in a state of heightened tension following the Pahalgam attack that killed 26 people, mostly tourists. Prime Minister Narendra Modi has announced punitive measures against Pakistan, including suspending the Indus Waters Treaty and downgrading diplomatic ties. The situation is so dire that Pakistan requested closed consultations with the UN Security Council on May 5, amid rising tensions between the two nations. External Affairs Minister S Jaishankar has been speaking with all non-permanent members of the council, except China and Pakistan, to emphasize the need for justice against those responsible for the attack. A meeting is set to take place at the UN, where Pakistan's Permanent Representative Asim Iftikhar Ahmad will discuss the security situation in the region with UN Secretary-General António Guterres.
https://www.ndtv.com/world-news/must-avoid-military-fight-that-may-spin-out-of-control-un-chief-to-india-pakistan-amid-jammu-and-kashmir-pahalgam-terror-attack-tensions-8338783Indian Finance Minister Nirmala Sitharaman has urged the Asian Development Bank (ADB) to speed up financing deals for India, amid a growing competition between the US and China over funding. The ADB is considering a $2 billion loan package for India's infrastructure development projects. Meanwhile, tensions are escalating between the two global powers as they spar over funding for various initiatives, including the US's efforts to help Turkey in its conflict with Russia.
https://www.livemint.com/industry/nirmala-sitharaman-asian-development-bank-adb-meeting-us-china-funding-masato-kanda-pakistan-11746461070950.htmlThe United Nations Security Council will meet on Monday to discuss rising tensions between India and Pakistan following the Pahalgam terror attack in Kashmir. Pakistan has threatened to apprise the UNSC about India's "aggressive actions, provocations, and provocative statements", specifically highlighting India's recent move to suspend the Indus Waters Treaty. Ambassador Asim Iftikhar Ahmad of Pakistan will deliver a statement at the Security Council stakeout area after the meeting.
https://www.news18.com/world/pahalgam-terror-attack-un-security-council-meeting-india-pakistan-tensions-kashmir-updates-9323741.htmlIndian Finance Minister Nirmala Sitharaman met with her Italian counterpart Giorgia Meloni to discuss implementing their Joint Strategic Action Plan 2025-2029, which aims to boost cooperation in key areas such as renewable energy and digital technologies. The plan builds on the $14.56 billion bilateral trade between India and Italy in FY2023-24. Sitharaman also proposed collaboration with Italian companies through India's PLI schemes and discussed reforming Multilateral Development Banks to better align with SDGs. She emphasized co-financing models for green hydrogen, carbon capture, and circular economy, highlighting the potential for both nations to develop solutions for global markets.
https://www.lokmattimes.com/business/india-italy-explore-ways-to-strengthen-economic-ties-at-adb-meet-1/US President Donald Trump has hinted at cutting tariffs on China, citing a desire to ease tensions between the two nations. The move comes after months of trade negotiations and is seen as a potential step towards improving relations with Beijing. Trump's decision may be influenced by the economic impact of the ongoing trade war, which has led to increased costs for American businesses and consumers.
https://www.livemint.com/news/us-news/donald-trump-signals-tariff-cut-for-china-soon-heres-why-hes-backing-off-us-president-trade-11746407789195.htmlUS President Trump's top officials have been meeting with trading partners since imposing tariffs on most countries in April. The tariffs include 10% on many countries, 25% on autos, steel and aluminum, and 145% on China. Trump suggested setting tariffs for some countries in the next two to three weeks, including reciprocal tariffs due to kick in on July 8. In an interview with NBC News, Trump acknowledged being "very tough" with China but said Beijing wants a deal now, stating they want to make a fair agreement and are willing to end their trade losses of $1 trillion.
https://www.brecorder.com/news/40361027/trump-says-he-wants-a-fair-trade-deal-with-china