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Egyptian FM discusses defence and security cooperation, regional peace with COAS Asim Munir

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Egyptian Foreign Minister Badr Abdelatty met Chief of Army Staff Field Marshal Asim Munir at the General Headquarters in Rawalpindi, where the two discussed “defence and security cooperation, military exchanges, training collaborations and regional peace and stability”, a statement issued by the Foreign Office (FO) said on Sunday.

Abdelatty arrived in Islamabad last night for a two-day official visit and also met President Asif Ali Zardari and Foreign Minister Ishaq Dar earlier today.

The FO statement said during his meeting with Field Marshal Munir, “both sides reaffirmed the importance of continued high-level engagement between the armed forces of the two countries”.

Egyptian FM meets Zardari

Abdelatty also called on President Zardari at Aiwan-i-Sadr today.

A statement by the President’s Secretariat said Zardari told the Egyptian FM that “Pakistan values its longstanding ties with Egypt, which are rooted in shared faith and mutual respect, and looks forward to advancing the relationship in a more structured and forward-looking direction”.

He also conveyed warm greetings for Egyptian President Abdel Fattah El Sisi.

According to the statement, the president noted that “this year marks 77 years of diplomatic relations between the two countries and expressed the hope that both sides will reinvigorate cooperation in trade, investment and people-to-people exchanges”.

He encouraged greater Egyptian investment in sectors where opportunities are expanding, including energy, logistics, construction, agriculture, mining and IT, the statement said.

For his part, Abdelatty delivered a message from the Egyptian president and expressed “Egypt’s keen interest in expanding its partnership with Pakistan in various fields”, it added.

The two sides also exchanged views on key regional and international issues, reaffirming their resolve to work together for peace, stability, and prosperity.

The statement said earlier, the two leaders also held a one-on-one meeting and exchanged views on key issues of mutual interest.

Pakistan to share list of 250 business houses

Before meeting with Zardari, Abdelatty also met Dar separately, and the two addressed a joint press conference.

Dar said during the press conference that he and Abdelatty had a “very, very focused discussion” today on how their nations could contribute to elevating the business-to-business upscaling of the bilateral activities, which the deputy PM termed as “surely not commensurate”, with around $300 million.

“With the depth and the affection the two countries have, […] Pakistan will share with Egypt a comprehensive list of 250 Pakistani business houses representing key sectors of the economy,” Dar announced.

“These businesses will be facilitated and supported to enhance bilateral commercial engagement,” the deputy premier highlighted.

The deputy PM detailed that the business houses will be chosen from “across the board” and through due consultation.

The list of businesses “representing each sector of the economy” will be initially prepared by the Federation of Pakistan Chambers of Commerce & Industry (FPCCI) in collaboration with the other chambers of commerce. Dar asserted there would be a “very transparent selection of those who really deserve and are willing to work and cooperate, and enhance the business”.

The businesses, after “due diligence in Egypt”, would be declared as the “white list”, Dar said. Noting that the foreign ministry was receiving complaints of waiting too long to obtain a business visa “very frequently”, the minister said those concerns will “cease at least to the extent of these top 250” businesses.

Dar further said that in the three-month period after three months have passed since the first list, Islamabad would select another 250 businesses to take the original list to 500.

He added that the Egyptian FM had also agreed to “process the list and that would again be added to the existing white list at that time from 250 to 500”.

The deputy PM went on to announce that a Pakistan-Egypt Business Council will be established after that to institutionalise private sector cooperation and to promote mutually beneficial commercial partnership and B2B business promotion between Pakistan and Egypt.

“Once these two steps are done, Pakistan and Egyptian Business Forum will also be established,” Dar stated, adding that it would be co-chaired by the two foreign ministers.

Its first meeting would be convened in Cairo in the second quarter of 2026, to advance trade, investment and economic collaboration.

Dar also acknowledged with “little embarrassment” that the Pakistan-Egypt Joint Ministerial Commission had not met since 2010, and neither had the two countries held bilateral political consultations.

Therefore, it was decided that the political consultations would be held in the first quarter of 2026, with Egypt nominating an assistant minister to head its delegation, while the Pakistani team would be led by the foreign secretary.

“They will do the entire preparatory work and agenda for the Joint Ministerial Commission meeting, which has not taken place in 15 years, to be held in the second quarter of 2026,” Dar explained.

“Discussions today reaffirm the strength of Pakistan-Egypt relations, and our shared commitment to further enhance bilateral cooperation across political, economic, defence, cultural and people-to-people domains,” Dar said.

“We agreed to work towards a more structured framework of cooperation and to explore new avenues of partnership,” the deputy premier noted, adding he was confident that the visit would “open new avenues of practical cooperation” between the two countries.

Dar noted that the two leaders also assessed the regional developments, with “particular focus on the grave situation in Gaza”.

“Pakistan appreciates Egypt’s vital role in humanitarian support, mediation efforts and diplomatic engagement to uphold the ceasefire and safeguard the rights of the Palestinian people.”

“Pakistan values Egypt as a key partner in the Muslim world and looks forward to continued engagement at all levels,” Dar affirmed.

The two ministers also discussed India-occupied Kashmir, Afghanistan and cooperation at multilateral fora.

Dar noted Abdelatty’s visit reflected the “longstanding friendship” between the brotherly countries of Pakistan and Egypt.

The foreign minister said his Egyptian counterpart also announced the doubling of scholarships this year for Pakistani scholars who wish to study in Al Azhar University.

“While staying in the religious domain, Al Azhar University [offers] courses on how to eliminate terrorism,” Dar pointed out, adding that scholars would learn how to tackle the menace as per religious teachings.

The deputy premier went on to mention that he and Abdelatty met frequently on the sidelines of various global moots this year: “This year, we have met at least half a dozen times if I’m not wrong.”

Islamabad, Cairo agree to intensify coordination to counter cross-border terrorism

At the outset of his remarks, Abdelatty conveyed Egypt’s condolences over the “tragic loss of lives and injuries” in the recent terrorist attacks in Islamabad and Peshawar.

“We stand in full solidarity with Pakistan in the fight against violent extremism and terrorism,” the Egyptian top diplomat affirmed.

“The issue of fighting terrorism is extremely important and we stand ready to share with our brothers and sisters here in Pakistan our very successful experience in fighting terrorism through a holistic approach focusing not only on the security dimension, but also socio-economic dimensions, as well as fighting extremist ideology through the very moderate religious institutions in Egypt, notably the Al-Azhar al-Sharif, Dar Al Ifta and the Ministry of Waqf.”

The Egyptian FM said, “In the security domain, we have agreed to intensify our coordination to counter cross-border terrorism and extremism.

“Furthermore, we are eager to leverage this spiritual and intellectual leadership of Al-Azhar al-Sharif to strengthen our joint efforts in promoting moderate discourse and combatting extremist ideology,” he added.

Terming the discussions “extensive and constructive”, Abdelatty said they focused on how to “enhance the partnership that exists between Egypt and Pakistan, and reaffirm our commitment to further strengthen and deepen bilateral cooperation across all areas, including political dialogue, economic partnership, trade, investment, security and defence cooperation, and cultural and educational exchanges”.

‘Agreed to intensify coordination on the Palestinian cause’

The two ministers also exchanged views on regional and international developments, stressing the “importance of peaceful resolution of conflicts, respect for sovereignty, and adherence to the principles of international law and the UN charter”.

“This visit comes at a pivotal moment of our region,” Abdelatty said, recalling that Egypt, alongside Pakistan and other countries, “mediated and voted” on the Gaza ceasefire agreement that was signed in Sharm El-Sheikh.

“Egypt will continue uncompromising efforts to resolve the Israeli-Palestinian conflict according to international law and UN Security Council resolutions, and we are working very hard with Pakistan on that.“

The Egyptian FM asserted that the two-state solution was the “only viable path towards genuine and lasting regional stability, which could only be achieved through the creation of a sovereign, viable and independent Palestinian state based on the UN pre-1967 borders with East Jerusalem as its capital”.

“It is within this context we agreed to intensify our coordination and consultations on the Palestinian cause, particularly the situation in the West Bank and in the Gaza Strip,” he added, appreciating Pakistan’s “unwavering solidarity and support for Egypt’s efforts to achieve a just and lasting solution to the Palestinian cause”.

Abdelatty went on to invite Pakistan to an upcoming conference on the reconstruction of Gaza.

“I reiterated Egypt’s willingness to work closely with Pakistan to address global challenges, from countering terrorism to climate change to food security,” the diplomat said.

Abdelatty appreciated Pakistan’s “steadfast support in various multilateral forums”, affirming that Cairo remained committed to close coordination on issues of mutual concern.

Sky’s the limit for our cooperation: Egypt FM

Addressing the media prior to his meeting with Dar, FM Abdelatty termed Pakistan his “second home country”.

“I would also like to convey our deep appreciation of our very cordial relation with Pakistan,” he said, acknowledging “common challenges” on the economic, political and security levels.

“That, of course, encourages us to work together and to cooperate in terms of exchange of best practices and expertise to help each other, and to confirm that stability and peace and development are the main pillars of our strategic partnership,” Abdelatty said.

“We would like to elevate our relationship to the strategic level,” the minister added.

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Noting that President Abdel Fattah El-Sisi had instructed him to further enhance bilateral cooperation with Islamabad, Abdelatty said, “Sky’s the limit for our cooperation.”

He expressed Egypt’s willingness to “reinvigorate the existing institutional mechanism of dialogue and cooperation” between Pakistan and Egypt, especially the JMC.

“So it’s timely now to convene the upcoming joint committee meeting. We would also like to agree on a roadmap for our cooperation, which will cover all areas of cooperation — political, economic, investment, trade, security, religious and cultural dimensions.”

“Pakistan holds its relations with Egypt in very high regard and we view this visit as an important opportunity to advance our common objective,” the deputy premier highlighted.

“I appreciate the positive momentum in our recent engagements at different levels, including our interactions on the margins of regional and multilateral fora around the globe,” he added.

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“Egyptian and Pakistani brotherhood is broadly known all over the world,” he said, adding that both he and Abdelatty had a great responsibility to take their countries’ diplomatic, economic, trade, business, security, and defence relations to a “much higher level”.

Earlier today, Dar received FM Abdelatty upon his arrival at the Ministry of Foreign Affairs, the Foreign Office said on social media platform X.


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Pakistan’s OGDCL ramps up unconventional gas plans – Business

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The state-run Oil & Gas Development Company Limited (OGDCL) is planning a major expansion of unconventional gas developments from early next year, aiming to boost production and reduce reliance on imported liquefied natural gas.

Pakistan has long been viewed as having potential in both tight and shale gas, which are trapped in rock and can only be released with specialised drilling, but commercial output has yet to be proved.

Managing Director Ahmed Lak told Reuters that OGDCL had tripled its tight-gas study area to 4,500 square kilometres after new seismic and reservoir analysis indicated larger potential. Phase two of a technical evaluation will finish by the end of January, followed by full development plans.

The renewed push comes after US President Donald Trump said Pakistan held “massive” oil reserves in July, a statement analysts said lacked credible geological evidence, but which prompted Islamabad to underscore that it is pursuing its own efforts to unlock unconventional resources.

Ahmed Hayat Lak, Managing Director and CEO of the Oil & Gas Development Company Limited, speaks during an interview with Reuters, during the Pakistan Minerals Investment Forum 2025, in Islamabad on April 9. — Reuters

“We started with 85 wells, but the footprint has expanded massively,” Lak said, adding that OGDCL’s next five-year plan would look “drastically different”.

Early results point to a “significant” resource across parts of Sindh and Balochistan, where multiple reservoirs show tight-gas characteristics, he said.

Shale pilot ramps up

OGDCL is also fast-tracking its shale programme, shifting from a single test well to a five-to-six-well plan in 2026-27, with expected flows of 34 million standard cubic feet per day (mmcfd) per well. If successful, the development could scale to hundreds or even more than 1,000 wells, Lak said.

He said shale alone could eventually add 600 mmcfd to 1 billion standard cubic feet per day of incremental supply, though partners would be needed if the pilot proves viable.

The company is open to partners “on a reciprocal basis”, potentially exchanging acreage abroad for participation in Pakistan, he said.

A 2015 US Energy Information Administration study estimated Pakistan had 9.1 billion barrels of technically recoverable shale oil, the largest such resource outside China and the United States.

A 2022 assessment found parts of the Indus Basin geologically comparable to North American shale plays, though analysts say commercial viability still hinges on better geomechanical data, expanded fracking capacity and water availability.

OGDCL plans to begin drilling a deep-water offshore well in the Indus Basin in the fourth quarter of 2026, Lak said. In October, Turkey’s TPAO, with PPL and its consortium partners, including OGDCL, were awarded a block for offshore exploration.

A combination of weak gas demand, rising solar uptake and a rigid LNG import schedule has created a surplus of gas that forced OGDCL to curb output and pushed Pakistan to divert cargoes from Italy’s ENI and seek revised terms with Qatar.



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Netflix to buy Warner Bros Discovery for nearly $83 billion – World

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Streaming giant Netflix has agreed to acquire film and television studio Warner Bros Discovery for nearly $83 billion, the two US companies announced on Friday.

The acquisition, which gives Netflix access to a vast film catalogue as well as the prestigious streaming service HBO Max, is the largest consolidation deal in the entertainment industry since Disney’s $71bn acquisition of Fox in 2019.

The transaction values Warner Bros Discovery at $27.75 per share, implying a total equity value of approximately $72.0bn and an enterprise value — including debt — of around $82.7bn.

Warner Bros. Discovery shares closed at $24.54 on the Nasdaq on Thursday.

Over the decades, Warner Brothers has produced film classics including Casablanca and Citizen Kane, as well as more recent blockbuster shows including ‘The Sopranos’, ‘Game of Thrones’ and the Harry Potter movies.

“Together, we can give audiences more of what they love and help define the next century of storytelling,” said Ted Sarandos, co-CEO of Netflix, which has produced global hits including ‘Stranger Things’, KPop Demon Hunters and ‘Squid Game’.

“Today’s announcement combines two of the greatest storytelling companies in the world,” said David Zaslav, President and CEO of Warner Bros Discovery, in the statement.

The transaction, which was unanimously approved by the boards of both companies, is to close within 12 to 18 months, they said.



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Pakistan will ‘definitely launch’ sovereign stablecoin, crypto czar says – Business

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Chairman of the Pakistan Virtual Assets Regulatory Authority (PVARA) Bilal Bin Saqib announced that Pakistan is set to launch its first “stablecoin” as part of its drive to make virtual assets a part of the economy.

The PVARA is an autonomous federal body governed by a multi-stakeholder board including the governor of the State Bank of Pakistan, the chairman of the Securities and Exchange Commission of Pakistan and the chairman of the Federal Board of Revenue. Its mandate is to curb illicit finance, protect consumers and unlock opportunities in fintech, remittances and tokenised assets, while fostering Shariah-compliant innovation through regulatory sandboxes.

A stablecoin, according to Bloomberg, is a digital token whose value is intrinsically linked to a physical currency, such as the US dollar, making it more stable than other cryptocurrencies like Bitcoin.­

Speaking at Binance Blockchain Week in Dubai, the crypto czar said that Pakistan will “definitely launch” a stablecoin, adding that the country is working on both that and Central Bank Digital Currencies (CBDCs).

“I think it is a great way to collateralise the government debt,” Saqib said. “We want to be at the forefront of this financial digital innovation that is happening. Why should we be at the tail-end of it when we have the muscle and the adoption?”

The Pakistan Crypto Council (PCC) said that Saqib also participated in a panel discussion on the future of virtual assets and emerging-market regulation, according to a post on their X account.

“He emphasised that for countries like Pakistan, clear and innovation-friendly crypto regulation is a key driver of economic growth,” the post read. “Pakistan’s work on stablecoins, data frameworks, and banking the unbanked can become valuable case studies for the world.”

Earlier this year, Saqib unveiled the country’s first government-led Strategic Bitcoin Reserve. He announced the reserve after delivering a keynote address before an elite audience, which included United States Vice President JD Vance, Eric Trump and Donald Trump Jr, at the Bitcoin Vegas 2025 in Las Vegas.

In May, the government announced the allocation of 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power Bitcoin mining and artificial intelligence (AI) data centres.



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