Author: EchoAsiaNews

The South African rand came under renewed pressure on Monday after oil prices surged above $100 per barrel, driven by escalating tensions between the United States and Iran following the collapse of diplomatic talks and the announcement of maritime restrictions targeting Iranian shipping routes. According to market reports, Brent crude rose more than 7% as investors reacted to fears of supply disruptions through the Strait of Hormuz, a key global oil transit chokepoint. Brent crude oil briefly crossed the $100 mark, intensifying inflation concerns and triggering risk-off sentiment across emerging markets. The currency impact was immediate, with the rand slipping…

Senior analyst Hamid Mir has revealed that the United States and Iran have agreed to hold another round of negotiations following their recent meeting in Islamabad, though the timing and venue are yet to be finalised. Speaking on Naya Pakistan with Shehzad Iqbal, Mir stressed that the talks should not be seen as unsuccessful, noting that such high-level diplomatic engagements rarely produce concrete outcomes in their initial rounds. He said both sides held lengthy discussions, reaching tentative understanding on some issues while deferring others for consultation with their respective leaderships. Citing sources from both delegations, Mir said neither side publicly…

US President Donald Trump has said oil and gasoline prices may remain elevated through November’s midterm elections, offering a rare acknowledgment of the potential political impact of the ongoing war with Iran. Speaking to Fox News’ “Sunday Morning Futures,” Trump said fuel prices could stay “around the same, or maybe a little bit higher,” as Americans continue to face higher costs at the pump. The average price of regular gasoline in the US has exceeded $4 per gallon for most of April, according to GasBuddy data. Trump’s remarks follow weeks of claims that the price spike would be temporary, although…

Global markets reacted sharply after oil prices surged above $100 per barrel, following the collapse of US-Iran peace talks and the announcement of a US naval blockade on Iranian ports. In early trading, US benchmark West Texas Intermediate (WTI) for May delivery jumped nearly 8% to $104.50 per barrel, while Brent crude for June delivery rose about 7% to $102 per barrel, reflecting fears of disruption to global energy supplies. Asian stock markets showed mixed reactions, with South Korea’s Kospi index initially falling 2% before recovering slightly, while Japan’s Nikkei slipped 0.3%. The volatility comes after a previous rally in…

Historic face-to-face talks between Iran and the United States concluded on Sunday without reaching an agreement, despite mediation efforts by Pakistan. Iranian Parliament Speaker Mohammad Bagher Ghalibaf, who led the Iranian delegation, stated that the United States now faces the choice of whether it can “earn Tehran’s trust.” Writing on X in Persian, Ghalibaf emphasized that while Iran approached the talks with good faith, past conflicts have left it cautious. “My colleagues proposed forward-looking initiatives, but the opposing side ultimately failed to gain our trust in this round,” he said. Ghalibaf added that diplomacy remains a complementary tool to military…

The federal government on Friday announced a significant reduction in petroleum prices, cutting high-speed diesel (HSD) by Rs135 per litre and petrol by Rs11.83 per litre for the week ending April 17, following a decline in global oil prices after a two-week ceasefire between the United States and Iran. According to the new rates, the price of HSD has been fixed at Rs385.54 per litre, down from Rs520.35, marking a 26% decrease. Petrol will now cost Rs366.58 per litre, compared to Rs378.41 earlier. The price of kerosene has been reduced by Rs17.33 to Rs450.15 per litre, while light diesel oil…

Quetta Gladiators secured a dominant 61-run victory over Rawalpindiz in the HBL Pakistan Super League at the National Bank Stadium on Friday night, handing their opponents yet another defeat in the tournament. Batting first, Quetta Gladiators posted 182 for 6 after recovering from an early setback. A crucial 87-run partnership between captain Saud Shakeel and Rilee Rossouw anchored the innings, with Rossouw scoring a fluent 53 and Saud contributing a steady 42. Hasan Nawaz provided a late surge with a rapid 39 off 16 balls, helping push the total to a competitive score. In response, Rawalpindiz collapsed under pressure and…

NASA’s Artemis II mission successfully concluded on Friday as its four-member crew safely splashed down in the Pacific Ocean off the coast of Southern California, marking the first human lunar flyby mission in more than 50 years. The Orion capsule, named Integrity, returned to Earth after a nearly 10-day journey covering approximately 694,000 miles (1.1 million km), including two Earth orbits and a close flyby of the Moon at a distance of about 252,000 miles. The capsule re-entered Earth’s atmosphere in a high-intensity 13-minute descent, enduring temperatures of up to 5,000°F (2,760°C). During this phase, a plasma sheath temporarily cut…

Pakistan Peoples Party Chairman Bilawal Bhutto Zardari has termed the success of negotiations between the United States and Iran essential for the international community, stressing that there is no room for a “Plan B” and that “Plan A”, peace, must succeed. In an interview with a British news outlet, Bilawal said that a ceasefire has been agreed upon after a month of efforts, adding that the consequences of this war could be devastating for the entire world. The Pakistan-hosted US-Iran negotiations follow a two-week ceasefire announced by US President Donald Trump after six weeks of conflict, halting US and Israeli…

Former One Direction member Zayn Malik has officially teased his new single Side Effects through an Instagram reel, just days after first previewing the track on TikTok. The 20-second black-and-white clip, shared on Instagram, features behind-the-scenes footage from a photoshoot, accompanied by a snippet of a new track from his upcoming album Konnakol, set for release on April 17. Malik captioned the post, “1 more week until KONNAKOL is out!”, a message he also shared on TikTok alongside a separate colourful version of the visuals. Fans quickly flooded the comments section, expressing excitement over the new music. Many praised the…