Author: EchoAsiaNews

UNITED STATES: Trump Media & Technology Group (TMTG), the company behind President Donald Trump’s Truth Social platform, reported a $238 million net loss for the second quarter of 2026, as losses linked to its cryptocurrency investments overshadowed strong revenue growth. The quarterly loss was more than ten times higher than the figure reported during the same period last year. Despite the setback, the company posted $1.7 million in revenue, representing an 89% year-on-year increase, while ending the quarter with approximately $2 billion in total assets, including $1.9 billion in cash, short-term investments, and digital assets. The results highlight the growing…

CHINA: China’s recent test of a nuclear-capable ballistic missile over the Pacific has intensified regional security concerns and exposed growing divisions among Pacific Island nations over how to respond to increasing militarisation in the region. The missile, launched in July, marked China’s first known ballistic missile test into the Pacific since September 2024 and took place just hours after Fiji and Australia signed a landmark defence treaty, Fiji’s first-ever formal military alliance. Although several Pacific leaders privately and publicly expressed concern, foreign ministers meeting in Suva, Fiji, failed to reach consensus on a joint statement condemning the launch, highlighting deep…

UNITED STATES: NASA has successfully tested a high-powered lithium-fed magnetoplasmadynamic (MPD) thruster, marking a significant step toward developing faster and more efficient propulsion systems for future human missions to Mars. The breakthrough test was conducted at NASA’s Jet Propulsion Laboratory (JPL) in California, where the experimental engine generated approximately 120 kilowatts of power—more than 25 times the output of the electric propulsion system currently used aboard NASA’s Psyche spacecraft. Unlike conventional chemical rockets, the MPD thruster uses electricity to convert lithium into plasma, which is then accelerated by magnetic fields to produce thrust. NASA officials described the successful trial as…

SWITZERLAND: Swiss-American eye care company Alcon has raised its profitability outlook for 2026 after reporting stronger-than-expected second-quarter results and significantly reducing its projected tariff-related costs, reflecting improved business performance and anticipated government refunds. The company now expects the annual impact of tariffs to range between $40 million and $90 million, down sharply from its previous estimate of $100 million to $150 million. The revised forecast includes an expected $60 million refund from the US government, easing pressure on operating costs. The United States remains Alcon’s largest market, accounting for 45% of net sales during the first half of the year,…

INDIA: Bain Capital-backed auto components manufacturer Dhoot Transmission saw its $321 million (₹30.67 billion) initial public offering (IPO) become fully subscribed on the second day of bidding, reflecting strong investor confidence in the company’s growth prospects and India’s expanding electric vehicle (EV) market. Exchange data showed that investors bid for 24.97 million shares, marginally exceeding the 24.96 million shares on offer. Demand was led by non-institutional investors, whose quota was subscribed 2.03 times, while the retail investor portion was subscribed 1.07 times. The institutional investor segment remained at 6% subscribed during the session. Ahead of the public offering, the Maharashtra-based…

UNITED STATES: US President Donald Trump has thrown his support behind FIFA President Gianni Infantino, warning that replacing the football governing body’s leader would be a “terrible mistake” amid mounting scrutiny over allegations involving his conduct and criticism of a failed private investment initiative. In a post on Truth Social, Trump described Infantino as “fantastic” and credited him with overseeing what he called “the most successful World Cup, by four times, ever presented.” He added that removing Infantino from office would damage FIFA’s commercial success, stating that the tournament would “never be as successful or profitable again” without his leadership.…

GERMANY: State-owned energy utility Uniper reported a sharp increase in first-half earnings, with adjusted core profit rising 88% year-on-year to €711 million ($820 million), driven by a stronger performance in its gas business and the absence of losses that weighed on results during the same period last year. The company also reported that adjusted net profit more than doubled to €388 million, reflecting improved operating conditions across its energy portfolio. Following the stronger-than-expected performance, Uniper raised the lower end of its full-year 2026 earnings guidance, signalling growing confidence in its financial outlook despite continued volatility in European energy markets. Improved…

RUSSIA: At least one person was killed and two others were injured after an overnight drone attack targeted Russia’s Voronezh region, triggering large-scale fires at warehouse facilities and prompting an emergency response, regional authorities said on Tuesday. Voronezh Governor Alexander Gusev said Russian air defence systems intercepted 20 drones, including 15 over the city of Voronezh and five across surrounding districts. Despite the interceptions, falling drone debris struck multiple locations, causing extensive damage and igniting fires at two warehouse complexes belonging to a major company. According to the governor, firefighters managed to contain one blaze covering approximately 16,000 square metres,…

COLOMBIA: A powerful 7.4-magnitude earthquake struck western Colombia early Monday, killing at least 111 people and injuring 87 others, while rescue teams raced to reach survivors trapped beneath collapsed buildings. President Abelardo De La Espriella declared a national state of emergency, ordering the full mobilisation of government resources as search-and-rescue operations continued across the affected region. According to the US Geological Survey (USGS), the earthquake struck at a depth of 107 kilometres near San Jose del Palmar in the Pacific province of Chocó. The tremor was felt across much of the country, with severe structural damage reported in Risaralda, Cali,…

Pakistan: The Pakistan Peoples Party (PPP) has taken the lead in two of the four constituencies contested during the third phase of the Azad Jammu and Kashmir (AJK) Legislative Assembly elections, according to unofficial and unconfirmed results. The Pakistan Muslim League-Nawaz (PML-N) is leading in one constituency, while an independent candidate secured a major upset by defeating former AJK prime minister Sardar Attique Ahmed Khan in his home constituency. In LA-15 Bagh-2, PPP candidate Zia Qamar maintained a lead over PML-N’s Muhammad Mushtaq Ahmed Minhas after results from most polling stations. In LA-17 Haveli-Kahuta, incumbent AJK Prime Minister Faisal Mumtaz…