Business
Pakistan’s Trump outreach sparks India ire as US ties take unexpected turn: Financial Times

Pakistan’s recent charm offensive towards United States President Donald Trump has unsettled New Delhi, the Financial Times (FT) reported, detailing how Islamabad’s army chief, Field Marshal Asim Munir’s warm reception in Washington contrasts sharply with India’s cooling ties with the White House.
According to the report, Munir travelled to Florida last weekend for the retirement ceremony of US Central Command chief General Michael Kurilla, marking his second cordial encounter with top American military officials this summer.
In June, Munir held a two-hour private lunch with Trump in Washington, just weeks after Pakistan and India engaged in their deadliest military confrontation in decades.
Such treatment is unusual for a foreign military leader, the newspaper noted, especially given Trump’s earlier criticism of Pakistan as offering “nothing but lies and deceit” to Washington. Yet the relationship appears to be enjoying what analysts described as an “unexpected resurgence” under the Republican president.
The FT said India was left “seething” by Munir’s White House welcome, as Trump’s administration offered Islamabad comparatively lighter trade tariffs — 19% compared to a punitive 50% on New Delhi — and promised a deal to develop Pakistan’s “massive oil reserves”.
The shift in tone is credited to a targeted Pakistani strategy involving counterterrorism cooperation, business outreach to Trump associates, and deals in energy, critical minerals and cryptocurrency.
Pakistani officials believe urgency was required to repair ties with the US president and his allies, some of whom had previously backed sanctions against Munir over the jailing of former prime minister Imran Khan.
An early breakthrough came in March when Pakistan’s intelligence services handed over an Islamic State Khorasan operative accused of orchestrating a 2021 Kabul bombing that killed 180 people, including 13 US soldiers.
Trump publicly praised the move in his State of the Union address, using the occasion to also criticise India over tariffs.
The report also highlighted Pakistan’s embrace of “crypto diplomacy”, including an agreement between a Trump-backed cryptocurrency venture and Pakistan’s crypto council in April. Since then, Minister for Crypto and Blockchain Bilal bin Saqib has engaged in trade talks with Washington while promoting Pakistan’s digital asset potential to figures close to the US president.
Munir’s conduct during the May conflict with India also bolstered Islamabad’s credibility with Trump, according to Pakistani officials. They said the army chief balanced “strength and restraint” by downing several Indian jets without escalating further, with the US and Gulf states mediating a ceasefire.
“Trump needs success stories to proclaim and Pakistan is happy to give them to him,” said Husain Haqqani, a former Pakistan ambassador to the US now at the Hudson Institute, a think-tank in Washington.
By contrast, Indian Prime Minister Narendra Modi publicly rejected any suggestion of US mediation, asserting that the agreement with Pakistan came through existing bilateral military channels.
The FT noted that Pakistan is presenting itself to Washington as a back channel to rivals Iran and China, reminiscent of its role in US diplomacy in the 1970s that facilitated Richard Nixon’s opening of US relations with China.
While Islamabad has criticised some American military actions, like strikes against Iran, it has also cast itself as a mediator between the US and its foes.
In late July, Munir flew to Beijing, where he toured the headquarters of the People’s Liberation Army and reassured China’s foreign minister Wang Yi over the safety of Chinese nationals in Pakistan.
“Pakistan is a rare country that is friends with China, Iran, the Gulf states, to a lesser extent, Russia, and now, again, the US,” said Marvin Weinbaum, a senior fellow at the Middle East Institute in Washington. “The US sees Munir as someone who can play a useful strategic role, and the Pakistanis keep their lines open to everyone but know to pull back when one relationship is clashing with another.”
For India, the burgeoning Trump–Pakistan relationship has proved an irritant, particularly given its failure to avert steep tariffs despite its larger economy. Indian officials expressed frustration at what they see as Washington rewarding a military-ruled neighbour for striking quick business deals.
Analysts cautioned, however, that Trump’s goodwill could prove volatile. According to the FT, Pakistan’s natural resource wealth remains largely unproven, its economy depends on a $7 billion IMF bailout, and recognition of Israel — a possible US expectation — would be politically difficult in Islamabad.
Haqqani told the newspaper that Trump is “playing the Pakistan card” to gain leverage over India. Former prime minister Shahid Khaqan Abbasi warned that while the outreach has yielded short-term gains, Islamabad must protect “both its interests and its dignity” in the unpredictable relationship.
Business
Gross GST collections for November stand at over Rs 1.70 lakh crore; up 0.7 per cent – The Times of India
GST collections: The Gross Goods and Services Tax (GST) collections for the month of November came in at over Rs 1.70 lakh crore. This is a rise of 0.7%, according to official data.SBI Research in a report in November had estimated that the gross domestic GST collections may come around Rs 1.49 lakh crore for November 25 (returns of October 25 but filed in Nov’25), a YoY growth of 6.8%.“Coupled with Rs 51,000 crore of IGST and cess on Import, the November GST collections thus could cross Rs 2.0 lakh crore, driven by the peak festive season demand led by lower GST rate and increased compliance while most of states experience positive gains,” SBI Research had said.This story is being updated
Business
Key Financial Deadlines That Have Been Extended For December 2025; Know The Last Date
New Delhi: Several crucial deadlines have been extended in December 2025, including ITR for tax audit cases, ITR filing and PAN and Aadhaar linking. These deadlines will be crucial in ensuring that your financial affairs operate smoothly in the months ahead.
Here is a quick rundown of the important deadlines for December to help you stay compliant and avoid last-minute hassles.
ITR deadline for tax audit cases
The Central Board of Direct Taxes has extended the due date of furnishing of return of income under sub-Section (1) of Section 139 of the Act for the Assessment Year 2025-26 which is October 31, 2025 in the case of assessees referred in clause (a) of Explanation 2 to sub-Section (1) of Section 139 of the Act, to December 10, 2025.
Belated ITR filing deadline
A belated ITR filing happens when an ITR is submitted after the original due date which is permitted by Section 139(4) of the Income Tax Act. Filing a belated return helps you meet your tax obligations, but it involves penalties. You can only file a belated return for FY 2024–25 until December 31, 2025. However, there will be a late fee and interest charged.
PAN and Aadhaar linking deadline
The Income Tax Department has extended the deadline to link their PAN with Aadhaar card to December 31, 2025 for anyone who acquired their PAN using an Aadhaar enrolment ID before October 1, 2024. If you miss this deadline your PAN will become inoperative which will have an impact on your banking transactions, income tax return filing and other financial investments.
Business
Stock Market Live Updates: Sensex, Nifty Hit Record Highs; Bank Nifty Climbs 60,000 For The First Time
Stock Market News Live Updates: Indian equity benchmarks opened with a strong gap-up on Monday, December 1, touching fresh record highs, buoyed by a sharp acceleration in Q2FY26 GDP growth to a six-quarter peak of 8.2%. Positive cues from Asian markets further lifted investor sentiment.
The BSE Sensex was trading at 85,994, up 288 points or 0.34%, after touching an all-time high of 86,159 in early deals. The Nifty 50 stood at 26,290, higher by 87 points or 0.33%, after scaling a record intraday high of 26,325.8.
Broader markets also saw gains, with the Midcap index rising 0.27% and the Smallcap index advancing 0.52%.
On the sectoral front, the Nifty Bank hit a historic milestone by crossing the 60,000 mark for the first time, gaining 0.4% to touch a fresh peak of 60,114.05.
Meanwhile, the Metal and PSU Bank indices climbed 0.8% each in early trade.
Global cues
Asia-Pacific markets were mostly lower on Monday as traders assessed fresh Chinese manufacturing data and increasingly priced in the likelihood of a US Federal Reserve rate cut later this month.
According to the CME FedWatch Tool, markets are now assigning an 87.4 per cent probability to a rate cut at the Fed’s December 10 meeting.
China’s factory activity unexpectedly slipped back into contraction in November, with the RatingDog China General Manufacturing PMI by S&P Global easing to 49.9, below expectations of 50.5, as weak domestic demand persisted.
Japan’s Nikkei 225 slipped 1.6 per cent, while the broader Topix declined 0.86 per cent. In South Korea, the Kospi dropped 0.30 per cent and Australia’s S&P/ASX 200 was down 0.31 per cent.
US stock futures were steady in early Asian trade after a positive week on Wall Street. On Friday, in a shortened post-Thanksgiving session, the Nasdaq Composite climbed 0.65 per cent to 23,365.69, its fifth consecutive day of gains.
The S&P 500 rose 0.54 per cent to 6,849.09, while the Dow Jones Industrial Average added 289.30 points, or 0.61 per cent, to close at 47,716.42.
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