With the United States on the sidelines, Saudi Arabia and the United Arab Emirates are trying to play a role as mediators.

The recent military escalation with arch-rival India won't have a large fiscal impact on Pakistan and can be managed within the current fiscal space, with no need for a new economic assessment, Pakistan's Finance Minister said in an interview with Reuters on Monday.

Shopkeepers wait for customers at the main bazaar, a day after the ceasefire between Indian and Pakistan was announced, in Jura, near Line of Control, in Neelum Valley, a district of Pakistan’s administered Kashmir,