A big news has come out from Gwadar, the most important project of CPEC, where a Chinese company closed its factory citing bad business environment and continuous losses and fired all the employees. This development has raised questions on the ground situation of CPEC and the confidence of foreign investors.
Chinese company’s operations closed in Gwadar
Hangeng Trade Company, operating in Pakistan’s Gwadar Free Zone, on Friday announced the closure of its factory and firing of all employees. According to a report by The Express Tribune, the company took this decision on International Labor Day, saying that due to “non-business reasons” and operational difficulties, it was not possible to continue the business. The company said that it was meeting international export standards, but its shipments got stuck, causing continuous losses. She was in touch with the authorities for the last three months, but no solution could be found, due to which she had to take this step.
Hangeng Trade Company said it paid off all liabilities, including three months’ salary, fine, electricity bill and container demurrage charges, before closing the factory. The company also said that relations between Pakistan and China are strong and CPEC is a major project. However, the company clearly said that a clear and practical policy environment is very important for business. Also, the company thanked the Government of Pakistan and the Ministry of Planning for the cooperation, but also advised investors to assess the risks before investing in Gwadar.
Questions on CPEC and investors’ confidence
This development has come to light at a time when Prime Minister Shahbaz Sharif is going to visit China this month, where a Business-to-Business Investment Forum is to be organized. The news of closure of the company in Gwadar has raised new concerns about the confidence of foreign investors and the future of CPEC. Expressing regret over the layoff of employees, the company said that it was not possible to maintain employment in the current circumstances.
Donald Trump said on Saturday he was going to review a new peace proposal from Tehran but cast doubt over its prospects, saying Iran had not yet “paid a big enough price”.
Two semiofficial Iranian news outlets, Tasnim and Fars, believed to be close to Iran’s paramilitary Revolutionary Guard, said Iran had sent the US a new 14-point proposal via Pakistan.
“I’ll let you know about it later,” Trump said of the proposal on Saturday, before boarding Air Force One, adding that “they’re going to give me the exact wording now”.
Shortly after speaking to reporters, Trump posted on social media about the new proposal, saying he “can’t imagine that it would be acceptable in that they have not yet paid a big enough price for what they have done to Humanity, and the World, over the last 47 years.”
Iran’s deputy foreign minister Kazem Gharibabadi told diplomats in Tehran “the ball is in the United States’ court to choose the path of diplomacy or the continuation of a confrontational approach”.
Iran, he said, was “prepared for both paths”.
Washington has repeatedly said it will not end the war without a deal that prevents Iran from obtaining a nuclear weapon, the primary aim Trump cited when he launched strikes in February in the midst of nuclear talks. Iran says its nuclear program is peaceful.
Reuters and other news organisations have reported over the past week that Tehran is proposing to reopen the strait before nuclear issues are resolved.
Iranian media said Tehran’s latest 14-point proposal included the withdrawal of US forces from areas surrounding Iran, lifting the US blockade on the strait of Hormuz, releasing Iran’s frozen assets, payment of compensation, lifting sanctions and ending the war on all fronts, including Lebanon, as well as a new control mechanism for the strait.
Speaking to reporters in Florida on Saturday, Trump suggested new military action against Iran was on the table.
“If they misbehave, if they do something bad, but right now, we’ll see,” he said. “But it’s a possibility that could happen, certainly.”
Elsewhere, the US warned shipping companies they could face sanctions for paying Iran to pass safely through the strait of Hormuz, adding pressure in the standoff over control of it.
The US on Friday warned against payments to Iran, not only in cash but also in “digital assets, offsets, informal swaps, or other in-kind payments,” including charitable donations and payments at Iranian embassies.
With Reuters, the Associated Press and Agence France-Presse
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Barnaby Joyce has blamed “the pressure of a campaign” for One Nation’s Farrer candidate contradicting party policy on immigration and appearing to endorse Labor’s current intake.
The One Nation MP also claimed voters won’t worry about Gina Rinehart’s million-dollar donation of a private plane to Pauline Hanson’s party, claiming journalists were more interested than ordinary people in the lucrative gift from Rinehart’s company.
Appearing on Sky News on Sunday, Joyce said he expected his party’s candidate, David Farley, would prevail in next Saturday’s byelection, despite a stumble this week where the would-be MP said Australia’s net overseas migration of 306,000 last year was “probably not” too many.
One Nation’s stated party policy is a cap of 130,000 migrants a year.
Farley, appearing at a candidate forum hosted by former Insiders host and Guardian podcast host Barrie Cassidy, said One Nation wanted to “match immigration to a housing policy, a health policy and an education policy”, noting demand for skilled migrants.
Cassidy asked: “Is 306,000 [net overseas migration] too many?”
Farley responded: “No, it’s probably not.”
“If we’re successful in One Nation’s water policies, we’re going to need more labour and we’re going to need more labour quickly, skilled labour,” he said.
“So for anyone to be able to say ‘what is the number today’, it should be addressed as what are we doing with productivity and what are we doing with capacity building, then you will get a true number that’s required for Australia.”
Asked about Farley’s comments, Joyce downplayed the slip-up.
“Well, when you’re a candidate and you’re on the beat. Obviously the policy is 130,000, as we’ve said, and he agrees when we talked about it. That’s just the pressure of a campaign,” he told Sky.
“You got to have a stocktake. You’ve got to see what an area can absorb. Even in Sydney or Melbourne or Brisbane, if you’re bringing in 400,000 a year, as we’ve been bringing in the population of Canberra, and you don’t have the houses, and you don’t have the schools, and you don’t have the hospitals … we just can’t have that.”
“If there’s a capacity to absorb them, and if there’s a need, then of course, that’s a completely different discussion.”
Farrer is expected to be a tight-run final count between Farley and independent candidate Michelle Milthorpe. The seat on the NSW-Victoria border has only been held by Liberal and Nationals members since its creation, but Nationals leader, Matt Canavan, downplayed the political impact of the Coalition losing the seat.
“These things don’t concern me,” Canavan told the ABC’s Insiders program.
“I do believe we can make things better if the Nationals party is elected in Farrer. But I understand why people have been disillusioned with us.”
He said he was “fighting pretty hard” in the Nationals’ campaign, but didn’t raise expectations of a strong showing. Canavan was also strongly critical of Milthorpe and Farley, accusing both of running “dishonest” campaigns.
Canavan criticised Milthorpe’s policies on fossil fuels, calling her a “teal” – a label the candidate has rejected – as well as Farley’s comments on immigration.
“[Farley] said the other day he was fine with Albo’s migration policy settings. Even though again his own party’s website say they want them massively slashed,” he said.
“We don’t need more than we got right now. We need much, much less.”
On Sky, Joyce also downplayed Rinehart’s million-dollar donation of a private plane to One Nation, claiming “it won’t really worry” voters.
“I think that worries people in the fourth estate more than it worries people on the ground,” Joyce told Sky News.
As reported this week, one of Rinehart’s companies gifted Hanson a new private plane, worth more than $1.5m, to use in the lead-up to the next federal election, while a group of her close associates donated another $2m to One Nation.
Joyce waved away the prospect of the expensive donation harming One Nation’s electoral prospects.
“If you’re so uninspiring that you can’t get big donors, then that says a lot about the political philosophy that you’re standing behind, that it’s really sort of a vacuous beige soup, rather than something that’s actually worth believing in,” he told Sky.
Joyce pointed out that the Labor government and the Greens had “big backers” including the union movement and prominent business people.
“I don’t believe in what they believe, but obviously they have a philosophy that attracts support. Now we attract support too, from people on the conservative side of politics and successful business people on the conservative side of politics, because they believe that they can clearly identify our conservative values. They might not agree with all of them, but they agree with enough.”
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The ongoing fierce war between America and Iran is showing no signs of ending. Iran has put forward a new 14-point proposal to America to end this war forever. However, current US President Donald Trump does not seem completely satisfied with this new proposal. He has clearly warned that even though he is considering this proposal of Iran, if Iran does any wrong thing, America will start military attacks on it again. It is clear from this tough stance that the path to peace between the two countries is still very difficult.
What demands did Iran make in its 14-point proposal?
According to Iran’s state media outlet Tasnim News Agency, Iran has sent this new 14-point proposal to the US. This proposal has been delivered to America through a Pakistani intermediary. In this, Iran has demanded a complete end to the ongoing war on all fronts including Lebanon. Iran says that just a two-month ceasefire is not enough, but there should be a permanent end to the war by resolving all the issues within 30 days.
In this proposal, Iran has sought concrete guarantees from America against any military aggression and has asked for the removal of American military forces from the area around Iran. Along with this, Iran has also demanded the release of its seized assets, removal of all sanctions and introduction of a new mechanism for the Strait of Hormuz.
What is President Trump’s stance?
Current US President Donald Trump said on Saturday that he is reviewing (investigating) this new proposal of Iran.
Trump said that he does not think that this proposal of Iran will be acceptable to America.
Trump expressed his displeasure and said that Iran has not yet paid an adequate price for what it has done to humanity and the world in the last 47 years.
He said that if Iran behaves badly or does anything wrong, the US could again launch military attacks on it.
What is the biggest obstacle in negotiations?
Trump clearly said that Iran wants a deal, but they are demanding things that America can never agree to.
Trump believes that there are a lot of differences between the two countries and the talks are in a very complex (difficult) phase.
America’s main demand is that Iran should make a strong commitment to completely stop its nuclear program.
On the other hand, Iran wants America to first reduce all military and economic pressure on it, only then there will be any talk on the nuclear deal.
Where is the problem regarding the nuclear program?
Trump said that he wanted to avoid bombing as a humanitarian matter.
But he stressed that Iran must be prevented from acquiring nuclear weapons at all costs.
According to the report, America wants Iran to make concrete promises on its nuclear program from the very beginning.
At the same time, Iran wants that first of all the military and economic pressure on it should be reduced.
Trump took a jibe at the leaders of Iran and said that they are not able to get along with each other.
Is America planning to attack again?
Trump told the media that he had been given complete information about possible military action. He said that he had only two options: either to bomb Iran heavily, or to try to reach an agreement. On Thursday itself, US Army Commander Admiral Brad Cooper had informed Trump about new plans for possible military attacks against Iran. After this, Cooper left for that area and also met American soldiers on ‘USS Tripoli’ in the Arabian Sea on Saturday.
What was the impact on petrol prices?
Gas (petrol) prices in America have increased rapidly since the attacks on Iranian targets by America and Israel on February 28. Gas prices in America have increased to $ 4.39 per gallon, which is 47 percent higher than before the war started. Trump has said he wants to continue the US Navy blockade of Iranian ports. Trump has expressed hope that as soon as this war ends, gas prices in America will automatically come down.
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An FIR has been registered under Section 108 (abetment of suicide) and 61 (2) (criminal conspiracy) of the Indian Justice Code on the complaint of the father of the deceased, Judge Aman Kumar Sharma at Safdarjung Enclave police station. In the initial investigation, Aman’s death is suspected to be suicide by hanging.
Aman Kumar Sharma
– Photo: Amar Ujala
Expansion
The suspicious death of 30-year-old Delhi Judicial Services (DJS) officer Aman Kumar Sharma in Safdarjung area of the capital has created a sensation. The police have registered a case of abetment of suicide and criminal conspiracy in the matter and have started investigation.
US President Donald Trump has indicated that he probably will not accept Iran’s new proposal to end the war. He said that Iran has not yet paid a huge price for its actions, so this proposal does not seem satisfactory to him.
What did Trump say on Iran’s new proposal?
US President Trump wrote on social media that he will soon review the full details and wording of Iran’s proposal, but at the moment he does not think the plan can be accepted. He also said that considering Iran’s activities in the last 47 years, it should get a more stringent response. Earlier, Trump had also indicated that if the situation worsens, America may start air strikes again. Although he clearly said that he does not want to do this right now, but it cannot be completely ruled out.
America-Israel stopped attacks on Iran
About four weeks ago, America and Israel had stopped their attacks on Iran, but despite this no concrete agreement has been reached to end the war. Due to this war, there has been a major impact on the global energy supply, instability in the markets has increased and there is a deep fear of economic recession in the world.
What’s in Iran’s proposal?
According to a senior Iranian official, his proposal first includes normalizing the movement of ships in the Strait of Hormuz and ending the sanctions imposed by America. It has been suggested to discuss the nuclear program later. Now everyone’s eyes are on what final decision Trump takes on this proposal.
Firefighters work to extinguish a fire at the University of South Florida campus in St. Petersburg, Florida, on May 2, 2026.(Luis Santana/Tampa Bay Times via AP)
Large plumes of gray smoke were seen rising from the building late Saturday.
According to the Tampa Bay Times, students and staff were alerted to the fire shortly before 6 p.m.
First responders work to extinguish a fire at the University of South Florida campus in St. Petersburg, Florida, on May 2, 2026.(Luis Santana/Tampa Bay Times via AP)
The school sent an alert reading: “Urgent Alert. Fire reported in MSL, Marine Science Lab. Evacuate building. Avoid area. Emergency personnel responding.”
St. Petersburg Fire Chief Michael Lewis said more than 60 units and about 200 firefighters responded to the scene.
Firefighters work to extinguish a fire at the University of South Florida campus in St. Petersburg, Florida, on May 2, 2026, as onlookers watch.(Luis Santana/Tampa Bay Times via AP)
Lewis said around 9 p.m. that the fire was largely extinguished but that the building is likely “a total loss.”
“The entire roof has burned off,” he said, according to the report.
Another major accident has occurred in the country’s capital Delhi. A fire broke out in a 4-storey building in Vivek Vihar, Shahdara. Many fire brigade vehicles are present at the spot. Nine people have died in the massive fire.
A sudden fire broke out in six flats in Delhi’s Vivek Vihar late night. The fire department received information about the fire at 3:47 am. After which fire brigade vehicles reached the spot. After the fire, many people got trapped and rescue teams are busy to rescue them.
The rescue operation is still going on. 16 people have been rescued. Information about the death of 9 people has come to light.
According to the information, a PCR call was received at Vivek Vihar police station regarding the fire incident. As soon as the information was received, the policemen along with SHO Vivek Vihar and ACP Vivek Vihar immediately left for the spot.
