Author: EchoAsiaNews

ZURICH, (AFP): FIFA President Gianni Infantino has withdrawn a controversial proposal to allow private investment in the FIFA World Cup after facing strong opposition from football confederations led by UEFA. The proposal, unveiled earlier this week, sought to establish a commercial subsidiary known as FIFA Forward Enterprise (FFE) to manage competitions including the World Cup and the Club World Cup. FIFA said the initiative could raise up to $4.2 billion based on a valuation of $20 billion. Under the plan, each of FIFA’s 211 member associations would have received a one-off payment of $20 million in early 2027, while funding…

MOSCOW, (Reuters): A homemade bomb carried by a woman exploded outside an upscale Italian restaurant in central Moscow on Saturday evening, killing three people and injuring at least 21 others, Russian authorities said. The blast occurred shortly before 8:00 p.m. local time near the Balzi Rossi Italian restaurant at Kudrinskaya Square, one of Moscow’s iconic Stalin-era skyscrapers. According to Russia’s Anti-Terrorism Committee, the woman attempted to enter the restaurant but was stopped by a security guard. Moments later, the explosive device detonated, killing the woman, the security guard, and a restaurant customer. Police said the injured suffered wounds of varying…

ISLAMABAD, Aug. 2: Polling began on Sunday for the second phase of the Azad Jammu and Kashmir (AJK) Legislative Assembly elections, covering 21 constituencies, including nine in Muzaffarabad Division and all 12 refugee constituencies. Voting started at 8:00 a.m. and will continue until 5:00 p.m. across the designated constituencies. In Muzaffarabad Division, elections are being held in five constituencies in Muzaffarabad district, two in Jhelum Valley, and two in Neelum, with 207 candidates contesting for the nine seats. Polling is also underway in 12 refugee constituencies—six reserved for refugees from the Kashmir Valley and six for refugees from the Jammu…

Sophie urges caution, citing Harvey Price’s complex needs as Katie Price says her son wants a small frog tattoo. UK: Katie Price’s sister Sophie has urged caution over plans for Harvey Price to get a tattoo, saying his complex needs should be considered before any decision is made. The discussion took place during an episode of The Katie Price Show podcast, where Katie revealed that her 24-year-old son had repeatedly expressed interest in getting a small frog tattoo on his hand. “Harvey keeps asking, he wants a little frog done, a tiny little frog,” Katie said during the podcast. Sophie…

Company pauses Google Earth feature that allowed users to create AI-generated visuals over satellite imagery following criticism from researchers. WASHINGTON, (AFP): Google has rolled back a new artificial intelligence feature in Google Earth that allowed users to generate AI-created visuals over satellite imagery after researchers and open-source intelligence experts raised concerns about its potential misuse. The technology company said Friday that it was removing the feature temporarily while it develops stronger safeguards to prevent the creation and spread of misleading geospatial images. “We’ve seen geospatial professionals using this feature for a range of useful purposes, however we’ve also seen people…

Incident reported near Strait of Hormuz entrance; no casualties or environmental damage recorded. (Reuters): A tanker was struck by an unidentified projectile off the coast of Oman on Saturday, leaving the vessel unable to operate after damage to its engine room, the United Kingdom Maritime Trade Operations (UKMTO) said. UKMTO reported that the incident occurred approximately 11 nautical miles northeast of Lima, Oman, located on the Musandam Peninsula near the entrance to the Strait of Hormuz. The maritime agency said there were no reported casualties or environmental impact following the incident. Where did the incident take place? The tanker was…

Organisers say celebration will continue despite security concerns following deadly Pride attack in Germany. AMSTERDAM,(Reuters): Hundreds of thousands of people are expected to gather in Amsterdam on Saturday for the flagship event of WorldPride 2026, with organisers pledging to continue the celebration despite heightened security concerns following a deadly attack during Berlin’s Pride events. The annual canal parade, the highlight of Amsterdam Pride, will feature dozens of boats decorated with rainbow flags and balloons as crowds gather along the city’s waterways. Amsterdam was selected to host WorldPride 2026 by international Pride organisers, with this year’s two-week programme across the Netherlands…

By ReutersKen Griffin’s firm acquires part of troubled fund’s portfolio after AI stock sell-off wipes out 67% of its value in July. Citadel, the investment firm founded by billionaire Ken Griffin, has stepped in to acquire part of the portfolio of hedge fund Situational Awareness after the firm suffered major losses from investments tied to artificial intelligence stocks, according to people familiar with the matter. The move marks another high-profile intervention by Citadel during a period of market stress, as Griffin’s firm has previously taken positions in troubled financial situations involving struggling hedge funds. Situational Awareness, founded by former OpenAI…

Foreign exchange initiatives aim to boost dollar inflows and support the rupee amid global currency pressures. MUMBAI, Aug. 1 (Reuters): Measures introduced by India’s central bank to attract foreign capital and support the rupee have generated nearly $40.81 billion in inflows, according to data released by the Reserve Bank of India (RBI) on Saturday. The RBI introduced a series of foreign exchange measures in June, including concessional hedging facilities and currency swap arrangements, to encourage overseas fundraising by state-owned companies, banks and through foreign currency non-resident deposits. How much capital has entered through RBI measures? The RBI said banks raised…

Washington reportedly conducts first yen-buying intervention with Tokyo in more than a decade as Japanese currency falls near 40-year lows. Aug. 1 (Reuters): The US Treasury reportedly bought Japanese yen on Friday to support the weakened currency after Japan stepped up efforts to curb its decline, the Financial Times reported. The reported move marked Washington’s first yen-buying intervention with Japan in more than a decade, as the yen remained under pressure and traded near levels not seen in about 40 years. According to the FT report, the Federal Reserve Bank of New York sold euros for yen on behalf of…