WASHINGTON: US President Donald Trump called Wednesday for India and Pakistan to immediately halt their fighting, and offered to help end the worst violence between the nuclear-armed countries in two decades.
“It’s so terrible,” Trump said at the White House. “I get along with both, I know both very well, and I want to see them work it out. I want to see them stop.
“They’ve gone tit-for-tat, so hopefully they can stop now.”
Trump’s comments came as India and Pakistan exchanged heavy artillery fire along their contested frontier, after New Delhi launched deadly missile strikes on its arch-rival.
At least 31 deaths were reported in the fighting, which came two weeks after New Delhi blamed Islamabad for backing an attack on the Indian-run side of disputed Kashmir, which Pakistan denied.
Pakistan has long been a key US military ally but Trump has been keen to build up relations with Indian Prime Minister Narendra Modi, whom he hosted at the White House in February.
“We get along with both countries very well, good relationships with both, and I want to see it stop,” Trump said in the Oval Office.
“And if I can do anything to help, I will be there.”
Trump initially played down the crisis as part of old tensions between India and Pakistan — even saying they had been at odds for 1,500 years, despite the two countries only forming after independence from Britain in 1947.
But his administration has scrambled into action in the last 24 hours since the Indian strikes.
US Secretary of State Marco Rubio spoke to his counterparts from India and Pakistan on Friday, encouraging them to reopen dialogue to “defuse” the situation, the White House said.
Trump tells India and Pakistan to ‘stop’ clashes
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Trump tells India and Pakistan to ‘stop’ clashes
- The US president initially played down the crisis as part of old tensions between India and Pakistan
- His administration has scrambled into action in the last 24 hours since the Indian strikes in Pakistan
Pakistan regulator amends law to facilitate capital raising by listed companies
- The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
- Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,
The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.
This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.
“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.
The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.
The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.
“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.
“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”
The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.
