Stories from Karachi · Pakistan

US Central Command has decided to return the Tuska-Ho vessel to Iran two weeks after its seizure. The 22 crew members are being released in Pakistan as part of the handover process.

The United States and Iran are conducting a maritime exchange involving crew members and vessels. The handover of the vessel Tosca to the Iranian side may indicate a small-scale settlement or deal between the United States and Iran.

Approximately 3,000 containers are currently stalled at the Karachi and Gwadar ports in Pakistan. Officials stated that the route from Gwadar to the Gab border is a critical corridor. This route allows transit to Iran in 2-3 hours, compared to an 18-hour journey via other paths.

The Pakistani government has simplified the Ministry of Commerce regulations to facilitate trade routes. Six specific routes will allow goods purchased from other countries to enter Iran via Pakistan.

Service Longmarch Tyres Limited (SLM), a Pakistani producer of truck and bus radial tyres, has formally announced its Initial Public Offering. The company will list on the Pakistan Stock Exchange.

The European Investment Bank (EIB) is providing a 100 million euro loan to rebuild flood-affected homes in Sindh. An additional 60 million euro financing package will be used to improve water quality in Karachi. The offer would fulfill the United States goal to loan $170 million.

Amaris Lovashan's Kingsman defeated Steve Smith's Sultans in the Pakistan Super League Eliminator. The match also featured Glenn Maxwell, Ashton Turner, Peter Sittle, and Josh Philippi.