Author: EchoAsiaNews

KARACHI: The State Bank of Pakistan has warned that the ongoing conflict in the Middle East poses significant risks to Pakistan’s macroeconomic outlook, citing rising energy prices, supply chain disruptions, and higher freight costs as major concerns for the country’s economy. In its Half Year Report for FY2025-26, the central bank said the regional conflict could increase inflationary pressures and strain Pakistan’s external account despite recent improvements in macroeconomic stability. The SBP stated that higher international oil prices and disruptions in global trade routes could inflate Pakistan’s import bill and raise freight and insurance costs, potentially affecting economic growth momentum.…

BEIJING: US President Donald Trump is heading to Beijing for a high-stakes summit with Chinese President Xi Jinping, signaling a renewed push to expand US commercial access to China while addressing escalating geopolitical tensions, including the ongoing Iran conflict. The trip begins on Wednesday, when Trump departs Washington and travels toward Beijing, with the summit meetings themselves scheduled for Thursday and Friday. The distinction highlights that Wednesday is the travel and transit phase rather than the negotiation phase of the visit. According to analysts, the US president is seeking stronger Chinese commitments on purchases of American soybeans, grains, meat products,…

KARACHI: Authorities have ordered a high-level inquiry after an alleged female drug peddler, identified as Anmol alias Pinky, was produced before a local court in Karachi without handcuffs and reportedly given special protocol in violation of police standard operating procedures. According to police, the suspect was arrested during a raid in Karachi’s Garden area and was wanted in multiple criminal cases linked to narcotics trafficking. Officials claimed that cocaine, chemicals used in drug preparation, weapons, and other items worth millions of rupees were recovered from her possession. The controversy erupted after videos surfaced on social media showing the suspect walking…

LOS ANGELES: Lionel Messi has retained his status as Major League Soccer’s highest-paid player with an annual base salary of $25 million following his contract extension with Inter Miami CF, according to figures released by the MLS Players Association. The updated salary data showed Messi’s guaranteed compensation rising to $28.3 million, more than double the earnings of the league’s second-highest paid player, Son Heung-min of Los Angeles FC. Messi’s renewed deal with Inter Miami will keep the Argentine star at the Florida-based club through the 2028 season. The figures do not include additional endorsement earnings or equity-related benefits linked to…

ISLAMABAD: The Pakistan Medical and Dental Council has made it mandatory for Pakistani students seeking admission to foreign medical and dental institutions to qualify the Medical and Dental College Admission Test (MDCAT) and obtain PMDC registration before leaving the country. The decision was taken during a high-level meeting chaired by Deputy Prime Minister Ishaq Dar to review reforms aimed at strengthening Pakistan’s medical and dental education framework. According to the PMDC, the Sub-Committee on Accreditation of Medical and Dental Colleges and Postgraduate Qualifications resolved that students must complete the mandatory registration process in advance to avoid future complications related to…

SEOUL: South Korea is reviewing phased contributions to international efforts aimed at ensuring safe navigation through the Strait of Hormuz, Defence Minister Ahn Gyu-back said on Wednesday, indicating support measures short of direct military participation, according to Yonhap News Agency. Speaking after talks in Washington with US Secretary of Defence Pete Hegseth, Ahn said Seoul had conveyed its willingness to contribute “as a responsible member of the international community” while considering support in stages. According to Ahn, possible measures under review include political backing, personnel dispatches, intelligence-sharing, and the provision of military assets. However, he stressed that there had been…

Scientists have warned that climate change, combined with emerging El Niño conditions, has triggered record-breaking wildfire outbreaks across Africa, Asia, and other regions in the early months of 2026, with conditions expected to intensify as the northern hemisphere enters summer. According to data compiled by the World Weather Attribution (WWA), fires between January and April have already burned more than 150 million hectares (370.66 million acres) of land globally—around 20% higher than the previous recorded peak. Researchers caution that rising temperatures and shifting weather patterns could push 2026 toward unprecedented levels of drought and wildfire activity, especially as El Niño…

The Pakistan Space and Upper Atmosphere Research Commission (Suparco) on Tuesday forecast that Eidul Azha is likely to fall on May 27, based on astronomical calculations for the Zilhajj 1447 AH moon sighting. According to Suparco, the new moon of Zilhajj is expected to be born on May 17 at 1:01am. By sunset on the same day, the moon’s age will be approximately 18 hours and 30 minutes, with an estimated 60-minute interval between sunset and moonset along Pakistan’s coastal areas. The space agency said that, under these conditions, the probability of sighting the Zilhajj crescent on the evening of…

Pakistan’s workers’ remittances increased by 8.5 per cent during the first 10 months of FY26, reaching $33.859 billion despite heightened geopolitical tensions in the Gulf region and concerns over potential disruptions, according to data released by the State Bank of Pakistan (SBP). The inflows, received between July and April 2025–26, showed continued resilience despite 73 days of regional conflict and broader uncertainty in the Middle East. Remittances from Gulf countries accounted for 53 per cent of total inflows, amounting to $18.2 billion. Monthly data showed remittances stood at $3.5 billion in April, reflecting an 11.4 per cent year-on-year increase, though…

Meta Platforms (META.O) has lost its legal challenge against an Italian regulatory order requiring it to compensate publishers for the use of news article snippets, after Europe’s top court ruled in favour of Italy’s telecoms watchdog. The ruling by the Court of Justice of the European Union (CJEU) reinforces the authority of national regulators to impose compensation mechanisms on digital platforms using press content, marking a significant development in the ongoing dispute between publishers and technology companies. The case was brought after Meta challenged the Italian communications authority, AGCOM, over its power to determine payments owed by online platforms for…