The Middle East's geopolitical terrain has historically been marked by tensions and conflicts, with the relationship between Saudi Arabia and Iran being one of the most consequential factors. The global powers, particularly the US and China, should mediate the potential rapprochement between these regional powers. A study of the US and China's potential role as facilitators in the Iran-Saudi Arabian reconciliation reveals a complicated web of geopolitical, strategic, and economic variables. The changing global power structure and the possible alteration of regional dynamics are both significant. The paper delves into the changing relationships between Saudi Arabia, Iran, and Turkey in Northeast Africa. It explores the historical connections,recent developments, and each country's motivations in the region. Explaining the future course of Middle Eastern politics and the larger field of international relations requires understanding the subtleties of the policies formulated by the US, China, Saudi Arabia, and Iran.

South Asia possesses strategic importance as home to two nuclear-weapon states (NWS) and is also of interest to global powers. The U.S. and the former USSR were interested in expanding their influence in South Asia. After the Cold War, the war against terrorism again drew the attention of the U.S. to conduct military operations in Afghanistan. Pakistan and India received worldwide attention when both developed nuclear capabilities in May 1998 after adopting the Non-Proliferation Treaty (NPT). Consequently, the Kashmir dispute emerged as a nuclear flashpoint. In this paper, an investigation is carried out involving the role of nuclear doctrine required to establish deterrence stability in post-nuclearization South Asia.

This study looks into the potential effect of foreign exchange exposure elasticity (FEEE) on the financial distress of non-financial firms from an emerging country (Pakistan) and a developed country (USA) during 2003-2015. It employs mixed methodology in which a comprehensive quantitative analysis is made from the panel data of the sample companies from both countries (Pakistan and USA). Subsequently, views of Chief Finance Officers (CFOs) of different companies are given. Results show that the effect of foreign exchange exposure is not statistically significant on the financial distress of Pakistani firms at contemporaneous level but it has positive significant effect at lagged level. Results also show that at gross exposure level, foreign exchange exposure of US manufacturing firms has a significantly positive effect on their financial distress contemporaneously but not at net market level. In case of US non-manufacturing firms, the foreign exchange exposure elasticity does not impact significantly on the Z-Score at gross exposure level. But the market model shows a weak significant effect of the FE Exposure on the distress of such firms in USA at relatively higher significance level. The firms fundamental attributes except foreign sales exhibit a significant effect on the financial distress. Only debt has negative coefficient which describes a positive effect on the financial distress. The findings have notable implications for the financial stability of the firms, especially in Pakistan.

Afghanistan has witnessed a turbulent history of long and devastating war due to Soviet unabated invasion of Afghanistan of ten years producing unbearable losses of life, institutions and society. The United States along-with the support of majority of Muslim countries supported Jihad to defeat communism. This victory was, however, short-lived as infighting among Afghan war lords later entangled the entire country with even graver consequence. The emergence of Taliban and resultant occupation of 70% of Afghanistan had brought some degree of stability by providing good governance and expeditious justice system, but failed to pragmatically adjust to international environment. The unfortunate incidents of 9/11 changed the world for foreseeable time with even harsher fall out for Afghan nation as unleashing of the war of terror destroyed the left over Afghanistan. The instability in Afghanistan has caused negative effects on Pakistan as next door neighbour, which has rendered all sorts of humanitarian, diplomatic and moral support to Afghan cause since Soviet invasion and has also suffered most in the process due to spill-over effects. The democratic government is incharge in Afghanistan after fall of Taliban regime in 2001 and several state institutions are also in place albeit at infancy stage, especially the security institutions, yet the prospects of enduring peace and stability are distant reality. More than three million Afghan refugees are still in Pakistan with very dim prospects of honourable return due to persisting instability. This paper highlights the causes of instability in Afghanistan with spill-over impact on Pakistan and suggests a course of action for enduring stability.