Author: EchoAsiaNews

NEW YORK: Gold prices rose more than 1% on Monday as a pause in U.S.-Iran hostilities pushed oil prices lower and reduced immediate concerns over inflation, while investors awaited the U.S. Federal Reserve’s upcoming policy decision. Spot gold gained 1.4% to $4,110.56 per ounce by 0200 GMT, while U.S. gold futures increased 1% to $4,112.10 per ounce. Why Did Gold Prices Rise After the US-Iran Fighting Pause? Analysts said gold benefited from lower oil prices and a weaker U.S. dollar following signs of de-escalation between Washington and Tehran. “The clear beneficiary today is gold due to the dual price action…

LOS ANGELES: Pamela Anderson has ruled out returning for Fox’s upcoming “Baywatch” reboot, saying she has not been contacted by producers about reprising her iconic role as lifeguard C.J. Parker. Anderson, who starred in the original series from 1992 to 1997 alongside David Hasselhoff, said she has limited information about the new production and has no plans to return to the franchise. “No one’s reached out to me. I don’t know much about it,” Anderson told Deadline in an interview published on July 24. She said there had been earlier discussions involving her sons about possible involvement with the reboot,…

SINGAPORE: Ship traffic through the Bab el-Mandeb Strait declined sharply after Yemen’s Houthi movement attacked Saudi oil facilities along the Red Sea coast, while shipping activity through the Strait of Hormuz remained at reduced levels, according to vessel-tracking data from Kpler. Only 11 commodity vessels passed through Bab el-Mandeb on Sunday, marking the lowest level in months, the data showed. The decline followed Houthi attacks on Saudi Aramco facilities in Yanbu and Jizan, which increased concerns over the security of one of the world’s key maritime trade routes. Why Has Shipping Through the Red Sea Slowed? The drop in traffic…

SYDNEY: Shares of Australian department store operator Myer Holdings Ltd fell more than 10% on Monday after the company warned that weaker consumer spending and economic uncertainty had significantly affected sales in recent months. Myer shares dropped as much as 12%, reaching their lowest level since October 2020, after the retailer said consumer demand weakened sharply in June and July. Why Did Myer Shares Drop? Myer said discretionary spending was affected by several factors, including higher fuel prices linked to the Middle East conflict, three interest rate increases in 2026, slower household income growth, a weaker housing market and growing…

SAN SALVADOR: El Salvador’s opposition has selected a former lawmaker and a physician to challenge President Nayib Bukele’s ruling party in the country’s 2027 presidential election, seeking to end his dominance over national politics. Opposition parties announced their candidates as they prepare for a contest expected to focus on Bukele’s security policies, economic record and expanded executive powers. The opposition ticket will feature former lawmaker Manuel Flores and doctor Celia Medrano, who will represent competing opposition forces against Bukele’s Nuevas Ideas party. Who Are El Salvador’s Opposition Candidates for the 2027 Election? Manuel Flores, a former legislator, has emerged as…

TAROUBA: Shan Masood and Imam-ul-Haq produced a strong batting recovery as Pakistan reached 199-3 at the close of the second day of the first Test against the West Indies at the Brian Lara Cricket Academy on Sunday. Pakistan, who were responding to West Indies’ first-innings total of 311, remained 112 runs behind with Shan Masood unbeaten on 88 off 137 balls and Salman Ali Agha not out on zero. How Did Shan Masood and Imam-ul-Haq Stabilize Pakistan’s Innings? Pakistan suffered an early setback when opener Azan Awais was dismissed for a nine-ball duck by Kemar Roach, who delivered a ball…

TEHRAN: Iran warned Ukraine on Sunday that it would respond after Tehran accused Kyiv of carrying out a deadly attack on an Iranian vessel in the Caspian Sea. Iranian Foreign Minister Abbas Araghchi said the strike killed an Iranian sailor and called the incident a violation of international law. “Zelenskyy has attacked an Iranian commercial vessel, killing a sailor,” Araghchi said in a post on X, adding that the action “cannot go unanswered.” He said he raised the issue during phone calls with European Union foreign policy chief Kaja Kallas and Russian Foreign Minister Sergei Lavrov. Iran’s Foreign Ministry said…

DUBAI/WASHINGTON: The United States and Iran held fire for a second consecutive day on Sunday after Washington suspended its bombing campaign against Iran, creating a temporary pause in fighting as both sides weighed the possibility of renewed diplomacy. The pause came after 13 nights of U.S. airstrikes on Iran, with the Pentagon halting operations late Friday. No U.S. strikes were reported on Saturday or Sunday, while Iran also stopped retaliatory attacks against neighboring countries hosting U.S. military bases. Why Have the US and Iran Stopped Attacking Each Other? A senior Iranian official told Reuters that Tehran would halt its military…

Washington moves toward broader use of traditional trade laws after earlier tariff approach faced legal challenges WASHINGTON: US President Donald Trump’s administration is preparing additional tariff measures as it shifts toward a longer-term trade strategy aimed at protecting domestic industries and pressuring trading partners, officials and trade experts said. The latest round of tariffs, including duties of 10% and 12.5% on 60 countries over alleged failures to enforce forced-labor restrictions, marks the beginning of a broader effort to rebuild the administration’s tariff framework using established trade laws. What New Tariff Measures Are Planned? US Trade Representative Jamieson Greer said the…

Actors praise Gen Z-led demonstrations after government accepts demands over examination irregularities NEW DELHI: Several Bollywood actors and public figures reacted on social media after India’s Education Minister Dharmendra Pradhan resigned following weeks of youth-led protests over alleged examination irregularities. Pradhan announced on Saturday that he had submitted his resignation, following demonstrations led by students demanding changes to the education system and accountability over examination-related concerns. How Did Bollywood Stars Respond? Actors including Alia Bhatt, Sara Ali Khan, Ibrahim Ali Khan, Priyanka Chopra, Sonakshi Sinha and Prakash Raj shared messages supporting the protesters. Alia Bhatt wrote on Instagram: “Gen Z…