China has announced a major mobilisation of its armed forces, including army, navy, air force and rocket units, around Taiwan for live-fire military drills after Taiwan’s $11 billion arms deal with the United States.

China says that the drills, named “Justice Mission-2025,” are a serious warning to all the separatist forces and external forces meddling in the island’s internal affairs.

The People’s Liberation Army’s (PLA) Eastern Theatre Command said that the exercises would test the combat readiness of its troops and simulate the “blockade and control of major ports and critical areas.”

It added: “With vessels and aircraft approaching Taiwan Island in close proximity from different directions, troops of multiple services engage in joint assaults to test their joint operations capabilities.”

Despite condemnation from the Taiwanese authorities, the Chinese military considers it a legitimate and necessary action to safeguard China’s sovereignty and national unity.

The U.S. has yet to respond to the war games; however, Taiwan’s defence ministry condemned the drills and accused China of escalating tensions.

They also announced counter-drills by its own forces to “defend democracy and freedom”.

China considers Taiwan as its province and is preparing to annex it, with the U.S. intelligence reports suggesting that China might invade the island by 2027.

However, China has repeatedly urged Taiwan (formal name: Republic of China) to accept a peaceful reunification but Taiwan rejects the offer and is boosting its defences to prepare for a possible invasion. 

The equity market rose on Monday as optimism over a prospective United Arab Emirates (UAE) investment in Fauji Foundation and a $1 billion rollover buoyed risk appetite and drove the bourse to a new all-time intraday high.

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 174,411.72, gaining 2,010.99 points, or 1.17%, and recorded a low of 173,200.41, reflecting a gain of 799.68 points, or 0.46%.

“Bullish activity witnessed as investors eye UAE $1 billion rollover liability set to end, acquiring shareholding in Fauji Foundation,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.

“Government deliberation on privatisation of ailing SOEs [state-owned enterprises], rupee stability and surging global crude oil prices played a catalyst role in bullish activity at PSX,” he added.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar said on Saturday that the UAE is set to acquire shares in the Fauji Foundation as part of ongoing economic cooperation, adding that the transaction is expected to help settle a $1 billion liability while a further $2 billion loan could be rolled over.

He said the understanding followed the UAE president’s visit and expressed hope the share acquisition would be completed by March 31, 2026; Islamabad is also seeking to persuade the UAE to reinvest $2 billion due in January.

“The recent comment by Ishaq Dar on the potential acquisition of Fauji Group shares by the UAE has sparked a rally in Fauji Group companies, driving the market upwards predominantly today,” said independent investment and economic analyst AAH Soomro. He further added: “Overall bullishness continues.”

On Friday, the benchmark KSE-100 Index closed higher by 1,570.51 points, or 0.92%, to 172,400.73 from 170,830.22, after trading between a high of 172,582.96 and a low of 171,146.14.

• Albanese backs NSW-led commission, resists federal probe.
• Minister warns national inquiry could amplify worst voices.
• Families call federal response not nearly enough.

SYDNEY: Families of victims killed in the Bondi Beach mass shooting called Monday for an independent national inquiry into antisemitism in Australia and alleged failures in policing, intelligence and policy, they say, enabled the attack.

Father and son Sajid and Naveed Akram are accused of targeting a Hanukkah event on Sydney’s Bondi Beach on December 14, killing 15 people and wounding dozens in what authorities have described as an antisemitic terrorist attack.

Seventeen families, in an open letter to Prime Minister Anthony Albanese, urged him to “immediately establish a Commonwealth Royal Commission into the rapid rise of antisemitism in Australia” and examine “law enforcement, intelligence, and policy failures that led to the Bondi Beach massacre”.

“We demand answers and solutions,” the families wrote.

“We need to know why clear warning signs were ignored, how antisemitic hatred and extremism were allowed to dangerously grow unchecked, and what changes must be made to protect all Australians going forward.”

Albanese has resisted calls for a federal inquiry, citing a need for urgent action rather than waiting “years for answers”.

“We need to get on with any changes that are required,” he told reporters Monday.

“I have nothing except sympathy for those families. My job, as prime minister, is to look at how we build unity, how we build social cohesion, how we do what the nation needs at what is a very difficult time.”

Albanese said last week that a New South Wales-led royal commission — where the shooting occurred — would suffice and promised full support.

Canberra has flagged a suite of reforms to gun ownership and hate speech laws, as well as an inquiry into police and intelligence services.

Home Affairs Minister Tony Burke warned Monday that a national royal commission could give “some of the worst statements and worst voices” a platform to relive “the worst examples of antisemitism over the last two years”, which he said was not in the interest of unity or national security.

But the families of those killed at Bondi Beach said the federal government’s response is “not nearly enough”.

“We have lost parents, spouses, children, and grandparents. Our loved ones were celebrating Chanukah at Bondi Beach, a festival of light and joy, in an iconic public space that should have been safe,” the letter said.

“You owe us answers. You owe us accountability. And you owe Australians the truth.”

The families said the rise of antisemitism was a “national crisis”, adding the “threat was not going away”.

“We need strong action now. We need leadership now. You cannot bring back our loved ones. But with a well-led Commonwealth Royal Commission and strong action, you may be able to save many more.”

One of the gunmen, Sajid Akram, 50, was shot and killed by police during the attack. An Indian national, he entered Australia on a visa in 1998.

His 24-year-old son Naveed, an Australian-born citizen, remains in custody facing multiple charges, including terrorism and 15 murders, as well as committing a “terrorist act” and planting a bomb with intent to harm.