Author: EchoAsiaNews

How is Melania Trump expanding her foster youth initiative? First lady Melania Trump has expanded her “Fostering the Future” initiative with a new $2 million scholarship program for young adults transitioning out of foster care, launched Thursday in partnership with IndyCar and Fox Corporation at the White House Rose Garden. The initiative has become a central focus of her second-term policy agenda. Since returning to the White House, Trump has backed a presidential executive order on foster care, supported savings accounts for children in foster care and helped secure $25 million in the 2026 federal budget for housing and support…

The United States: President Donald Trump and his former personal lawyer Michael Cohen have resumed contact after years of public conflict, with Cohen describing their relationship as “being resuscitated.” The two spoke in a recorded 40-minute interview for Cohen’s radio programme, marking their first public conversation since their professional relationship collapsed more than eight years ago. Trump told Cohen during the interview that he respected him for having “recanted” statements and said Cohen had been “weaponized” against him. Cohen said the two had forgiven each other but declined to discuss privately what Trump may have said or whether he had…

Europe’s stock markets are showing resilience despite the ongoing Iran war, with the STOXX 600 index trading near record highs and investor inflows strengthening. European equities attracted $2.44 billion in the week to August 12, the largest weekly inflow since late February, according to LSEG/Lipper data. European stocks have also benefited from stronger-than-expected economic data, improving corporate earnings and reduced exposure to volatility in global technology shares. The euro has risen about 3% since mid-June to above $1.16, reaching a three-month high. Why are European markets performing strongly? Investors have been encouraged by a relatively resilient European economy and clearer…

Myanmar: Myanmar’s military has deployed hundreds of troops to the southern Tanintharyi Region in an offensive aimed at clearing areas designated for the Russia-backed Dawei Special Economic Zone (SEZ), according to resistance fighters and a local activist cited by Reuters. The Dawei project includes a planned deep-sea port and power plant on the Andaman Sea and is being promoted as a potential alternative trade route to the Strait of Malacca. The military offensive has reportedly involved clashes with local resistance groups, village raids and the burning of homes. Why is the Myanmar military targeting the area? The offensive coincides with…

Bangladesh will not stage its Bangladesh Premier League (BPL) this season, Bangladesh Cricket Board (BCB) president Tamim Iqbal said on Thursday, citing problems that have affected recent editions of the country’s premier domestic T20 competition. The BPL, launched in 2012, has faced allegations of match-fixing and corruption, along with organisational and financial difficulties. The BCB reportedly recorded losses of nearly 400 million Bangladeshi taka ($3.27 million) over the last two seasons, according to local newspaper Prothom Alo. Why has the BPL been cancelled this season? The decision follows a series of controversies surrounding recent editions of the tournament. In May,…

United States: The United States has threatened Iran with what Treasury Secretary Scott Bessent described as the “toughest sanctions in history,” while warning countries supporting Tehran of severe economic consequences. The announcement comes amid the nearly six-month-old conflict involving Iran, the United States and regional states, with tensions surrounding the Strait of Hormuz continuing to affect global oil markets. Bessent said the new sanctions package would be detailed next week and suggested that maximum economic pressure could reduce the need for renewed large-scale military action. President Donald Trump had earlier warned that countries providing Iran with financial, commercial or other…

Pakistan: Pakistan’s former prime minister and PTI founder Imran Khan has been sent back to Adiala Jail after undergoing a medical examination at Shifa International Hospital in Rawalpindi. A six-member team of specialist doctors examined Khan and, according to sources cited by Geo News, determined that he could safely remain in prison. Khan was transferred to the hospital under heightened security following a Supreme Court order directing authorities to move him to a medical facility for assessment and treatment. A PTI spokesperson told Reuters that Khan spent several hours at the hospital overnight before being returned to prison. Why was…

SEOUL: South Korean chipmaker SK Hynix has agreed to pay 60% of employee profit-sharing bonuses in company shares, with the remaining 40% to be paid in cash under a preliminary wage agreement, according to a person familiar with the matter. The agreement still requires approval from union members. SK Hynix declined to comment on the reported arrangement. Under the proposed scheme, employees would receive shares equivalent to 40% of their total bonus in 2027, while another 20% would be paid in company stock on a deferred basis in 2028 and 2029. The remaining 40% of the profit-sharing bonus would be…

SYDNEY: New Zealand’s Opportunity Party is emerging as a potential kingmaker ahead of the November 7 election, with the party proposing a universal basic income funded by a new land tax and positioning itself to potentially determine which major party forms the next government. Recent opinion polls have placed Opportunity above the 5% threshold required to enter parliament. Current projections indicate that both the ruling centre-right National Party and opposition centre-left Labour Party could require Opportunity lawmakers to form a coalition. Party leader Qiulae Wong, a 38-year-old former sustainable business consultant who entered politics only last November, has overseen a…

ZURICH: FIFA President Gianni Infantino is facing growing opposition from football officials and national federations after the departure of Chief Operating Officer Kevin Lamour, with a FIFA vice-president describing the dismissal as the “final straw” and withdrawing his support for Infantino’s re-election. Hungarian FIFA vice-president and FIFA Council member Sandor Csanyi said Lamour’s departure raised serious concerns over FIFA’s leadership, transparency and governance. In a letter to Infantino seen by Reuters, Csanyi said Lamour had made a significant contribution to the organisation and questioned the circumstances surrounding his dismissal. Lamour left FIFA weeks after publicly criticising Infantino’s proposal to sell…