Author: EchoAsiaNews

Germany’s wholesale prices rose 1.2 percent year‑on‑year in February 2026, extending an upward trend in producer price inflation, data from the federal statistics office showed on Friday. The increase follows similar gains in preceding months and reflects persistent price pressures in parts of the economy. The wholesale price index measures the cost of goods sold by producers before they reach retailers and consumers. A sustained rise in these prices can signal inflationary trends further down the supply chain, potentially feeding into broader consumer price inflation if sustained. The latest figures continue a pattern of moderate increases in producer price inflation, reflecting…

Pakistan says it is playing a “bridge‑builder” role among regional capitals amid the ongoing conflict in the Middle East, maintaining open channels of communication with both Gulf states and Iran while urging restraint and diplomatic engagement, government officials said. At a weekly briefing on 13 March 2026, Foreign Office spokesperson Tahir Andrabi reiterated Islamabad’s position that its approach is anchored in international law, respect for sovereignty, the UN Charter, and non‑use of force, and that Pakistan continues to emphasise dialogue over escalation. He said Pakistan’s principled stance is respected in capitals across the region, enabling it to facilitate communication between…

Iran’s newly appointed Mojtaba Khamenei delivered his first public statement on 12 March 2026, vowing to seek retaliation for “martyrs” and maintain the closure of the Strait of Hormuz, dramatically raising the stakes in the ongoing Middle East conflict. His remarks were issued via state media and marked his first comment since assuming leadership following the assassination of his father, former Supreme Leader Ali Khamenei, in late February. In the statement, attributed to Khamenei and broadcast on state television, Iran pledged to keep the Strait of Hormuz closed as a strategic lever against the United States and Israel, emphasizing resistance…

Two oil‑laden vessels carrying an estimated 100 million to 120 million litres of fuel safely reached Karachi Port on Friday under the escort of the Pakistan Navy, marking an important development amid global fuel supply concerns and regional maritime security risks, officials confirmed. The ships, operated by the Pakistan National Shipping Corporation, were escorted from Fujairah to Karachi by naval units conducting Operation Muhafiz‑ul‑Bahr, a maritime security initiative launched to safeguard national shipping and critical sea lanes amid rising regional tensions following recent attacks on commercial vessels. Federal Minister for Maritime Affairs Muhammad Junaid Anwar expressed gratitude to the Pakistan…

At a United Nations Security Council meeting on 12 March 2026, the United States and its Western allies clashed sharply with Russia and China over Iran’s nuclear programme, amid intensifying global tensions linked to the broader war involving Iran and a US‑Israeli military campaign. The session, chaired by the United States, saw members vote 11–2 in favour of maintaining oversight of Iran through the 1737 Committee, a sanctions enforcement mechanism, despite opposition from Russia and China. The two powers had sought to block the discussion on extending the committee’s work. The US Ambassador to the United Nations accused Moscow and…

Prime Minister Shehbaz Sharif has reaffirmed Pakistan’s firm support for the Kingdom of Saudi Arabia amid ongoing regional tensions, following a high‑level meeting with Crown Prince Mohammed bin Salman in Jeddah on Friday. In discussions held late on 12 March 2026, the two leaders reviewed recent developments in the Middle East and agreed to continue close cooperation to promote peace and stability across the region, according to an official statement issued by the prime minister’s media wing. Prime Minister Sharif conveyed respectful regards to King Salman bin Abdulaziz Al Saud and expressed appreciation for Saudi Arabia’s longstanding support for Pakistan.…

U.S. intelligence assessments indicate that Iran’s government remains stable and is not at imminent risk of collapse, despite nearly two weeks of sustained air and missile strikes by the United States and Israel targeting Iranian military and leadership structures. The conclusion is based on multiple classified reports completed in the last few days, according to sources familiar with the intelligence. Officials familiar with the assessments say the regime continues to exercise control over the Iranian public and key state institutions, and that the powerful Islamic Revolutionary Guard Corps (IRGC) remains central to governance and security operations. The intelligence evaluations follow…

Pakistan’s oil industry has urged the government to review the requirement that petrol stations install electric vehicle (EV) charging infrastructure, arguing that the policy is commercially unviable under current market conditions. The Oil Companies Advisory Council (OCAC) said the mandatory linkage between issuing permits for fuel stations and the installation of EV chargers should be reconsidered. In a letter to Petroleum Minister Ali Pervaiz Malik, the council highlighted operational and financial challenges faced by oil marketing companies implementing the government’s New Energy Vehicles policy. Industry representatives said the sector supports the long-term shift toward cleaner transport but was not adequately…

The administration of Donald Trump estimates that the United States has spent about $11.3 billion during the first six days of its military campaign against Iran, according to a report cited by officials and lawmakers in Washington. Officials told members of Congress that the cost reflects extensive use of advanced munitions, airstrikes, and naval operations carried out since the conflict began in late February with coordinated U.S. and Israeli attacks on Iranian military infrastructure. The Pentagon had already reported that $5.6 billion worth of munitions were used in the first two days of the operation alone, highlighting the high financial…

The International Monetary Fund (IMF) said it has made “considerable progress” in discussions with Pakistan over its funding programme but noted that talks will continue in the coming days before a final agreement is reached. According to IMF mission chief Iva Petrova, negotiations focused on the ongoing review of Pakistan’s Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF) programmes. The discussions assessed fiscal reforms, monetary policy measures, and steps to improve the viability of Pakistan’s energy sector. The IMF said Pakistan’s programme implementation has remained broadly aligned with agreed commitments through February 2026. Officials also discussed sustaining…