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In his first interview since India and Pakistan agreed to a ceasefire Saturday, Dar said Islamabad “had no choice” but to launch strikes in “self-defense” following India’s May 7 cross-border attacks.

Last week’s escalatory tit-for-tat strikes marked the worst fighting between the two nuclear-armed nations since 1971, killing dozens and deepening fears of a wider conflict.

Dar referred to India’s strikes as a “war” and a “wishful attempt to establish its hegemony” in the long-disputed Kashmir region – but said that the nuclear option was never on the table.

“There are certain times when you have to take very serious decisions,” he said, “We were very sure that our conventional capacity and capabilities are strong enough that we will beat them both in air and on ground.”

Following several days of fighting, Islamabad and New Delhi agreed to a US-brokered truce on Saturday, as explosions reportedly ripped through parts of Kashmir over one final burst of strikes.

“We still hope sense will prevail,” he said.

Meanwhile, Indian Prime Minister Narendra Modi said on Monday that India has “only paused our responsive attack on Pakistan’s terror and military hubs.”

“Operation Sindoor has drawn a new line under the fight against terrorism – this is a new phase, a new normal,” he said, adding, “If there is a terror attack on India, we will give a jaw-breaking response.”

“India will not tolerate any nuclear blackmail,” Modi cautioned.

The Indian leader asserted the ferocity of his country’s attacks pushed Pakistan to look for “ways to save themselves” by reaching a ceasefire deal.

“They were calling the world to reduce tensions after being completely destroyed,” he said.

“(The Indians) had seen what happened in the sky,” he added. “They could see how serious the damage was.”

There was no direct contact between Indian or Pakistani officials, Dar said, contradicting a previous assertion made by India’s director general of military operations, who reportedly received a message from his counterpart in Pakistan during the talks.

Instead, Dar said that US Secretary of State Marco Rubio passed on the message that India was ready to stop the fighting.

Rubio said in a Saturday statement that he and US Vice President JD Vance had spoken to the political and military leadership in India and Pakistan to secure agreement before the situation deteriorated further.

Calls for ‘self-determination’ in Kashmir

The Muslim-majority region of Kashmir has been a flashpoint in India-Pakistan relations since both countries gained their independence from Britain in 1947.

The two nations to emerge from the bloody partition of British India – Hindu-majority India and Muslim-majority Pakistan – both claim Kashmir in full and, months after becoming independent, fought their first of three wars over the territory.

The divided region is now one of the most militarized places in the world.

Dar pointed to Kashmir as “the root cause of this regional instability” and called for the region’s “future self-determination.”

India has long accused Pakistan of harboring militant groups in Kashmir that conduct attacks across the border against Indian security forces, a charge Islamabad has rejected.

India launched its cross-border strikes last week in the wake of a tourist massacre in the Indian administered part of Kashmir in April.

Dar reiterated that Pakistan was not behind last month’s rampage, saying, “We condemn terrorism in all forms and all manifestations.”

He added that he believes US President Donald Trump supports Pakistan’s antiterrorism efforts.

“If they didn’t believe (in our efforts), they would not have cooperated the way (that they did),” Dar said, pointing to Trump’s social media post on “finding a solution” to the Kashmir conflict.

However, Dar warned that the already precarious ceasefire could be threatened “if the [Kashmir] water issue is not resolved” in the coming talks, referring to ongoing disputes of access to water from rivers in Kashmir. Pakistan’s proposed solution involves reversing India’s decision to block three vast Kashmir rivers vital to Pakistan’s economy.

Failure to resolve the water issue “will amount to an act of war,” he said.

This post appeared first on cnn.com

Former Philippine President Rodrigo Duterte was almost certain to be elected mayor of his home city by a landslide on Monday, unimpeded by his detention at the International Criminal Court on charges of murder as a crime against humanity.

With 80% of votes counted in an unofficial tally, Duterte, who was brought to The Hague in March over his bloody “war on drugs” that killed thousands of people, was winning the Davao mayoral contest with eight times more votes than his nearest rival.

The victory during nationwide midterm elections is testament to the 80-year-old’s enduring influence in the southern city, owing to his reputation as a crime-buster that earned him the nicknames “Duterte Harry” and “the Punisher.”

Duterte’s old Facebook account was flooded with congratulatory messages from supporters, with some calling for his return to serve his people.

“Congratulations, Tatay (father) D! Let’s bring him home,” read one of the comments.

Duterte could become the first Asian former head of state to go on trial at the ICC.

His surprise arrest by Philippine police at the request of the ICC caused outrage among his army of supporters, who called it a kidnapping at the behest of a foreign court.

He has defended the anti-drugs crackdown and his legal team says his arrest was unlawful. The ICC maintains it has jurisdiction to prosecute alleged crimes committed before Duterte withdrew the Philippines from its founding treaty in 2019.

Despite the ICC’s case also including alleged killings of criminal suspects by a “death squad” in Davao while Duterte was mayor – which he has denied – analysts have said his arrest has only hardened support for him and his family, in Davao and beyond.

The former president’s two sons were also set to win posts on Monday, one reelected congressman and the other winning the contest for Davao vice mayor and likely to serve in his father’s absence.

The family’s political resilience and dominance in Davao could prove pivotal as Duterte’s popular daughter, Vice President Sara Duterte, faces an impeachment trial that could see her banned from politics for life if convicted, killing off any hopes of a presidential run.

Asked earlier on Monday about her father’s likely victory, she said plans would be made for him to be sworn in as mayor.

“The ICC lawyer said once we get proclamation papers, we will discuss how he can take oath,” she said.

This post appeared first on cnn.com

Taiwan on Monday test-fired for the first time a new US-supplied rocket system that has been widely used by Ukraine against Russia and could be deployed to hit targets in China if there is a war with Taiwan.

The United States is Taiwan’s most important arms supplier, despite the lack of formal diplomatic ties. Taiwan has faced increased military pressure from China, including several rounds of war games, as Beijing seeks to assert its sovereignty claims over the island.

Taiwan has bought 29 of Lockheed Martin’s precision weapon High Mobility Artillery Rocket Systems, or HIMARS, with the first batch of 11 received last year and the rest set to arrive by next year.

With a range of about 300 kilometers (186 miles), they could hit coastal targets in China’s southern province of Fujian, on the other side of the Taiwan Strait, in the event of conflict.

The US-trained Taiwan military team fired the rockets from the Jiupeng test center on a remote part of the Pacific coast.

Officer Ho Hsiang-yih told reporters US personnel from the manufacturer were at the site to tackle any problems.

“I believe that this rocket firing shows our people the military’s determination to protect the country’s security and safeguard our beautiful homeland,” he added.

HIMARS, one of Ukraine’s main strike systems, has been used multiple times during the war with Russia. In March, Australia said it had received the first two of 42 HIMARS launcher vehicles.

The test came a day after Taiwan said it had detected another “joint combat readiness patrol” by China’s military near the island, involving warplanes and warships.

Taiwan’s democratically-elected government rejects China’s sovereignty claims, saying only the island’s people can decide their future.

This post appeared first on cnn.com

The United Nations mission in Libya called for de-escalation Monday after fighting erupted in the North African nation’s capital.

The UN Support Mission in Libya (UNSMIL) is “alarmed by the unfolding security situation in Tripoli with intense fighting with heavy weaponry in densely populated civilian areas,” it said in a post on X late Monday.

“The Mission calls on all parties to immediately cease fighting and restore calm, and reminds all parties of their obligations to protect civilians at all times,” UNSMIL added.

“Attacks on civilians and civilian objects may amount to war crimes.”

Gunfire was heard in Tripoli as reports emerged that a prominent commander, Abdulghani Kikli of the Support Force Apparatus SSA, one of the capital’s most powerful armed groups, was killed, Reuters reported. The Support Force Apparatus SSA is a state-backed security institution affiliated with the Presidential Council, according to its website.

Libya has been embroiled in a political conflict since long-time dictator Moammar Gaddafi was overthrown in 2011, leading to the emergence of several armed groups.

While a 2020 ceasefire brought some peace, the country remains fragile and divided, with the internationally recognized Government of National Unity (GNU) ruling in Tripoli and the northwest and the Government of National Stability ruling in Benghazi in the east.

Armed clashes have occasionally been reported, with major factions vying for control over Libya’s substantial oil and gas reserves.

Amid reports of violence, the GNU’s health ministry told local hospitals and medical centers in Tripoli to prepare for emergencies, according to a post on its Facebook account.

The GNU’s interior ministry called on citizens in a short statement to stay at home “for their own safety,” according to Reuters.

The University of Tripoli Presidency also announced on Facebook the suspension of all studies, exams, and administrative work until further notice.

The administration appeared to be moving forward with those plans as recently as Wednesday, when migrants believed to be bound for Libya sat for hours on a bus before abruptly being returned to a detention facility. The White House declined to comment on those flight plans.

This post appeared first on cnn.com

US President Donald Trump has said he is open to attending the potential peace talks between Russia and Ukraine in Turkey on Thursday, as the US ramps up pressure on Moscow and Kyiv to bring an end to the three-year conflict.

Trump is visiting the Gulf this week, making stops in Saudi Arabia, the United Arab Emirates and Qatar, for his first overseas trip since the start of his second term. He said he could detour to Turkey “if I thought it would be helpful.”

“I think you may have a good result out of the Thursday meeting in Turkey between Russia and Ukraine,” Trump told reporters at the White House on Monday. “I don’t know where I’m going to be on Thursday, I’ve got so many meetings, but I was thinking about actually flying over there. There’s a possibility of it, I guess, if I think things can happen.”

Shortly after, Ukrainian President Volodymyr Zelensky said his country “would appreciate” Trump’s attendance, and said he supported Trump’s call for direct talks between himself and Russian President Vladimir Putin.

“It is important that President Trump fully supports the meeting, and we would like him to find the opportunity to be in Turkey,” Zelensky said in his evening address.

The Ukrainian president said Sunday he was prepared to meet Putin after the Russian president proposed “direct talks” in Turkey – something not seen since the early weeks of Moscow’s full-scale invasion in 2022. Trump urged the Ukrainian president to “immediately” agree to Putin’s offer, undermining efforts to pressure Moscow to a ceasefire.

Moscow has not yet confirmed whether or not Putin or any other Russian official will attend the talks.

Last weekend, Ukraine’s major European allies had given Russia an ultimatum: agree to an unconditional 30-day ceasefire in Ukraine or face “massive” new sanctions. They insisted there could be no new talks before a ceasefire.

Trump had supported the initiative, Germany’s new chancellor Friedrich Merz said. Trump had called earlier that week for a 30-day unconditional ceasefire in Ukraine, without providing a deadline. “If the ceasefire is not respected, the US and its partners will impose further sanctions,” he warned.

For months, Ukraine and its allies tried to convince the Trump administration that Putin acts in bad faith, and have said Russia’s agreeing to a ceasefire could function as a test of whether it is serious about achieving the peace the US president has long demanded.

In urging Zelensky meet Putin, Trump dropped his demand for Russia to agree to a ceasefire, marking a dramatic change in approach.

On Monday, the Kremlin said Putin was serious about trying to find peace through talks, but the spokesperson said he could not say more, according to Reuters news agency.

Russian Foreign Minister Sergei Lavrov spoke by telephone with his Turkish counterpart Hakan Fidan about Putin’s proposed talks with Ukraine, but a brief Russian foreign ministry account gave no indication whether Putin would attend, according to Reuters.

Zelensky said Monday that Moscow had been “silent” regarding Putin’s proposal to meet.

“Ukraine always supports diplomacy. I am ready to be in Turkey. Unfortunately, the world still has not received a clear answer from Russia regarding numerous proposals for a ceasefire,” Zelensky said in his evening address.

Zelensky said he had spoken to Turkish President Recep Tayyip Erdogan who “expressed full readiness to host the meeting.” The Kremlin said Putin spoke with Erdogan on Sunday, who “fully supported” Putin’s proposal for peace talks and had offered Istanbul as a venue.

“A new window of opportunity has opened with the recent contacts. We hope that this opportunity will not be wasted,” Erdogan said Monday, following his call with Zelensky.

The Trump administration has been growing increasingly frustrated that efforts to broker a peace deal between Russia and Ukraine have so far fallen short.

Last month, US Secretary of State Marco Rubio said that if there was no progress on Ukraine, the US would “need to move on.”

This post appeared first on cnn.com

A court in Paris on Tuesday found French actor Gérard Depardieu guilty of sexually assaulting two women on a film set in 2021 and handed him an 18-month suspended prison sentence.

In one of the highest-profile #MeToo cases to come before judges in France, Depardieu, a towering figure of French cinema, had repeatedly denied any wrongdoing. But judge Thierry Donard said Depardieu’s explanation of events had been unconvincing.

One of the two plaintiffs, Amelie K, a set decorator, had told the court the actor had groped her all over her body as he trapped her between his legs and made explicit sexual comments.

“He touched everything, including my breasts,” she told the court. “I was terrified, he was laughing.”

The presiding judge said two witnesses corroborated her account whilst Depardieu had been contradictory in his own accounts.

The #MeToo protest movement over sexual violence has struggled to gain the same traction in France as in the United States, though there are signs that social attitudes towards sexual assault may be changing.

This is a developing story and will be updated.

This post appeared first on cnn.com

British police said on Tuesday they had arrested a 21-year-old man on suspicion of arson after counter-terrorism officers launched an investigation into three fires, including one at Prime Minister Keir Starmer’s private home.

Police were called to reports of a fire in the early hours of Monday morning at the property in Kentish Town in north London, the area that Starmer represents in parliament.

Nobody was injured but damage was caused to the property’s entrance, police said.

The man was arrested in the early hours of Tuesday on suspicion of arson with intent to endanger life in connection with the fire and two further incidents, police said. He remains in custody, they added.

Police are investigating whether a fire at the entrance of a property in nearby Islington on Sunday and a vehicle fire in Kentish Town on Thursday are linked to the incident on Monday.

A BBC report said the Islington property was also connected to the prime minister.

Starmer lived in the terraced house on a back street with his wife and two children before he moved into Number 10 Downing Street when he became prime minister last July.

Officers from London’s Metropolitan Police Counter Terrorism Command were leading the investigation due to the property’s connections with a high-profile public figure, police said.

His spokesperson thanked the emergency services for their work on Monday.

This post appeared first on cnn.com

Kim Kardashian is set to testify Tuesday in the Paris trial of the burglars accused of tying up and robbing the billionaire reality TV star at gunpoint nearly nine years ago.

She is expected to detail her ordeal during the 2016 Paris Fashion Week burglary, where she was robbed of nearly $10 million in cash and jewellery, including a $4 million engagement ring that was never recovered.

It will be the first time Kardashian will face the alleged robbers in court.

The defendants – who consist of nine men and one woman whose ages range from their 30s to their 70s – are facing charges including armed robbery, kidnapping and conspiracy. Eight of them deny involvement, while two have admitted to lesser offenses.

Several are repeat offenders, with much of the beginning of the trial focused on their past criminal careers.

The trial opened on April 28 at a packed courthouse in the French capital.

The bodyguard, named only as Pascal D., said he found Kardashian “crying hysterically” on his arrival.

Dubbed the “Grandpa Robbers,” of the original 12 suspects, one has since died, and another defendant who has Alzheimer’s disease has been ruled unfit to stand trial. If convicted, some of the remaining defendants could face up to 30 years in prison.

The trial has been delayed for years partly because of major cases like those related to the 2015 Paris terrorist attacks.

The trial is scheduled to run through May 22, with a verdict expected on May 23.

This post appeared first on cnn.com

Fox Corp. will launch its direct-to-consumer streaming service, to be called Fox One, ahead of the National Football League season later this year.

Fox CEO Lachlan Murdoch unveiled the name and timing of the company’s upcoming streamer during a quarterly earnings call Monday. The exact launch date and pricing will be announced in the coming months.

While Murdoch didn’t give specifics on pricing, he said during Monday’s call it would be in line with so-called wholesale pricing, meaning it would be similar to the cost of the channels for pay tv distributors. Cable TV subscribers will get access to the service at no additional cost, Murdoch said.

“Pricing will be healthy and not a discounted price,” he said.

“It would be a failure of us if we attract more connected subscribers … we do not want to lose a traditional cable subscriber to Fox One,” said Murdoch. He added the company is doing everything “humanly possible” to avoid more subscribers fleeing the cable bundle.

Fox plans to offer the app as part of bundles with other distributors and services, Murdoch said. He added many other streamers had already approached Fox about bundling and said the company “will be moving forward with a number of those relationships.”

On Monday Fox reported fiscal third-quarter revenue of $4.37 billion, up 27% from the same period last year.

Fox’s financials were lifted by the Super Bowl, which aired on the company’s broadcast network and free, ad-supported service, Tubi, during the most recent quarter. Some ads for Super Bowl 59, which attracted roughly 128 million viewers, cost $8 million apiece. Fox reported a 65% increase in advertising revenue during the quarter.

The media company, known for the cable TV channel Fox News and its sports offering on broadcast and cable, had been on the sidelines of streaming compared with its peers. While the company has the Fox Nation streaming app and Tubi, it has yet to offer all of its content in a direct-to-consumer offering.

Murdoch alerted investors in February of the company’s plans to offer the streaming service by the end of this year.

The decision came shortly after Fox, alongside Warner Bros. Discovery and Disney, abandoned efforts to launch Venu, a joint venture sports streaming app. Fox was the only one out of its partners without a subscription streaming app already in the market.

Warner Bros. Discovery offers its live sports content on streamer Max.

Disney’s ESPN has its ESPN+ app and is developing a new flagship streaming app that will reflect the content on its cable TV network. The company will unveil further details on the app this week. CNBC reported last week that ESPN plans to name the app simply ESPN.

This post appeared first on NBC NEWS

Amid ever-increasing uncertainties on the global front and similarly rising geopolitical tensions between India and Pakistan, the Indian equity markets demonstrated strong resilience. They consolidated before ending the week on just a modestly negative note. The trading range remained modest; the Nifty oscillated in a 590-point range. While the markets defended their key support levels, the volatility surged. The volatility barometer, the India Vix, spiked 18.49% to 21.63 on a weekly basis.. The headline index finally closed with a net weekly loss of 338.70 points (-1.39%).

A few important things to note from a technical perspective. The 200-DMA is at 24044; the 50-week MA is at 23983. This makes the zone of 23950-24050 a very important support zone for the Nifty. So long as the Index is able to defend this zone, it will continue consolidating in a defined range. Incremental weakness would creep in only if the 23900 level is violated decisively. On the higher side, as evident from the charts, the markets have continued to resist the rising trendline resistance. From now on, the Nift’s behavior vis-à-vis the zone of 23950-24050 would be crucially important to watch; the Index’s ability to defend or not defend this zone will dictate the trend over the coming weeks.

The levels of 24350 and 24600 are expected to act as probable resistance points in the coming week. The supports are at 23900 and 23630.

The weekly RSI is 54.36; it stays neutral and does not diverge against the price. The weekly MACD is bullish and stays above its signal line. A bearish engulfing candle has emerged. Its emergence near a pattern resistance adds credibility to the resistance placed near 24500-24600.

The pattern analysis of both daily and weekly charts shows that the Nifty has traded quite on the expected lines and within the analyzed range. It has continued resisting the rising trendline resistance near 24500-24600; it has so far defended the key that is created between the 200-DMA and the 50-week MA. The markets would weaken only if they violate the crucial 23900 level; so long as this point stays defended, we can expect the markets to consolidate in a defined range.

Based on the overall technical structure, it is likely that the markets will not see any immediate upward trend. While if the markets end up breaching the 23900 level remains to be seen, it is doubtful that they will initiate any sustainable trending upmove and move past the 24500 levels soon. The hedging activity and the cost of hedging have increased; this is evident from Vix, which has significantly risen over the past few days. While the Nifty has defended the key support levels so far, it remains in a technically challenging environment. It is strongly recommended that the market participants adopt a defensive approach by focusing on the low beta stocks and the stocks with improving relative strength. Staying low on leveraged positions, a continued cautious outlook is advised for the coming week.


Sector Analysis for the coming week

In our look at Relative Rotation Graphs®, we compared various sectors against the CNX500 (NIFTY 500 Index), representing over 95% of the free-float market cap of all the listed stocks. 

Relative Rotation Graphs (RRG) show that the Nifty PSE Index has rolled inside the leading quadrant. Infrastructure, Nifty Bank, PSU Bank, FMCG, Consumption, Commodities, and the Financial Services Indices are also inside the leading quadrant. These groups are likely to outperform the broader Nifty 500 Index relatively.

The Nifty Metal Index has rolled inside the weakening quadrant. This may cause the sector to slow down and give up on its relative performance. The Services Sector index also remains in this quadrant.

While the Nifty IT Index continues to languish in the lagging quadrant, the Auto and the Realty Indices are sharply improving their relative momentum against the broader markets while staying inside this quadrant.

The Nifty Midcap 100 index has rolled inside the improving quadrant; may see its relative performance bettering over the coming days. The Media and the Energy Indices are also inside this quadrant, and may continue seeing improvement in their relative performance against the broader markets.


Important Note: RRG charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  


Milan Vaishnav, CMT, MSTA

Consulting Technical Analyst

www.EquityResearch.asia | www.ChartWizard.ae