UAE hails Pakistan-India border truce in Kashmir

A Pakistani troop patrols near the Line of Control (LoC) — the de facto border between Pakistan and India — in Chakothi sector, in Pakistan-administered Kashmir on August 29, 2019. (AFP/File)
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Updated 01 March 2021
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UAE hails Pakistan-India border truce in Kashmir

  • Ceasefire on Kashmir border was settled by the Indian and Pakistani militaries last week
  • UAE urges dialogue between the two South Asian nations to 'establish a lasting peace'

ISLAMABAD: The United Arab Emirates (UAE) on Sunday welcomed an agreement between the militaries of Pakistan and India to restore ceasefire along their disputed border in Kashmir.

Kashmir has long been a flashpoint between Pakistan and India as both claim the region in full but rule in part. Tensions increased in August 2019, after New Delhi withdrew the region's autonomy and split it into federally administered territories. In recent months, cross-border firing has become frequent, often killing or maiming people living in the area.

On Thursday, however, the military operations heads of nuclear-armed neighbors said in a joint statement that they had agreed to discuss each other's concerns that could disturb peace and lead to violence along the Line of Control (LoC). The announcement has been seen as restoring a ceasefire agreement from 2003.

"UAE has close historical ties with the Republic of India and the Islamic Republic of Pakistan and that it commends the efforts of the two countries to reach this achievement," the UAE Ministry of Foreign Affairs and International Cooperation said in a statement on Sunday.

"This is an important step towards achieving security, stability and prosperity in the region," it said, adding that "adhering to a permanent ceasefire between the two friendly countries in Kashmir to the benefit of both sides."

The UAE also urged dialogue between the two South Asian countries to "build bridges of confidence and establish a lasting peace."

On Saturday, Pakistani Prime Minister Imran Khan said in series of tweets that Islamabad was ready to resolve all issues with New Delhi through dialogue.

“We have always stood for peace & remain ready to move forward to resolve all outstanding issues through dialogue,” Khan said, as he also the restoration of ceasefire along the LOC.


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

  • Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
  • Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity

ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said. 

Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday. 

The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.

Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday. 

“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.

An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.

However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days. 

Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.

The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.

Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.

Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.