Author: EchoAsiaNews

HAVANA: Cuba’s National Assembly on Thursday unanimously approved a sweeping package of economic reforms that could mark the most significant shift toward a market economy since the 1959 revolution, as the government seeks to counter the impact of severe U.S. sanctions and a prolonged economic crisis. The reforms, backed by the ruling Communist Party and former president Raul Castro, would allow private real estate development, private banking operations, and the sale of state-owned properties to both domestic and foreign buyers, including Cubans living abroad. The measures also propose transforming state-owned enterprises into commercial entities with shares and equity stakes, significantly…

BEIRUT: The United States must exert direct pressure on Israel to alter its military and political approach toward Lebanon, analyst Rami Khouri said, arguing that any lasting regional de-escalation will depend on Washington forcing policy changes in Tel Aviv. Khouri’s remarks come in the context of a recently signed US-Iran peace agreement, which includes provisions for ending hostilities across multiple regional fronts, including Lebanon, and calls for broader steps toward military de-escalation. According to Khouri, Israel may consider a limited or symbolic withdrawal of its forces from southern Lebanon following the US-Iran understanding. However, he cautioned that such moves would…

BIRMINGHAM: South Africa Women defeated Pakistan Women by two wickets in a closely contested Women’s T20 World Cup 2026 match at Edgbaston on Wednesday, successfully chasing a target of 127 with 19 balls to spare. Despite a fighting all-round performance from Pakistan captain Fatima Sana, the Green Shirts suffered their second consecutive defeat of the tournament, further denting their hopes of advancing to the knockout stage. South Africa’s chase was anchored by top-order batter Miane Dercksen, who struck a quick-fire 52 off 35 balls, including seven fours and two sixes. Her aggressive innings laid the foundation for the Proteas before…

HOUSTON: Portugal coach Roberto Martinez defended Cristiano Ronaldo’s role in the team after the veteran forward endured another difficult outing in Portugal’s 1-1 draw against the Democratic Republic of Congo in their opening FIFA World Cup 2026 match on Wednesday. Ronaldo, 41, completed the full 90 minutes but failed to register a shot on target as Portugal dropped points in a match they had been expected to win comfortably. The result extended the Portugal captain’s scoreless run to five consecutive World Cup matches and 10 straight appearances at major international tournaments. Ronaldo has not scored a non-penalty goal at either…

EVIAN: US President Donald Trump drew attention on the final day of the G7 summit in France on Wednesday after jokingly declaring himself “the boss” as he entered a meeting of world leaders, underscoring his dominant presence at a gathering already shaped by a major diplomatic breakthrough with Iran. Arriving late to the morning session, Trump told fellow leaders, “I’m the boss,” as he walked into the room where heads of state and government were already seated. The remark prompted laughter among participants, while French President Emmanuel Macron, hosting the summit, appeared to take the comment in stride before welcoming…

WASHINGTON: The United States on Wednesday released the full text of a 14-point memorandum of understanding (MoU) agreed with Iran, providing the first detailed public account of a framework aimed at ending hostilities, reopening the Strait of Hormuz and launching negotiations on Tehran’s nuclear programme. The document, officially titled the “Islamabad Memorandum of Understanding between the United States of America and the Islamic Republic of Iran,” was released after growing calls for transparency regarding the terms of the agreement. According to the text, the United States and Iran have agreed to an immediate cessation of military operations and committed to…

LOS ANGELES: England overcame a spirited challenge from Croatia to secure a 4-2 victory in their opening FIFA World Cup 2026 match on Wednesday, while Portugal suffered a major setback after being held to a 1-1 draw by the Democratic Republic of Congo. In a thrilling Group L encounter at the Dallas Cowboys’ stadium in Texas, England twice surrendered the lead before producing a dominant second-half display to claim all three points. Captain Harry Kane scored twice, while Jude Bellingham and substitute Marcus Rashford added second-half goals as England launched their campaign to end a six-decade wait for a major…

ISLAMABAD: Prime Minister Shehbaz Sharif and Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari held a key meeting on Wednesday amid ongoing consultations over the federal budget for FY2026-27, with both leaders stressing the need for close coordination between the federation and provinces to advance economic development and ensure smooth implementation of public projects. The meeting took place as the government seeks parliamentary approval for the federal budget and follows reports that the PPP has raised concerns over certain fiscal provisions and budgetary allocations. According to a statement issued by the Prime Minister’s Office, the two leaders discussed matters of national…

LONDON: Global oil prices fell in early trading on Thursday after the United States and Iran signed an interim agreement aimed at ending months of conflict, reopening the Strait of Hormuz, and restoring Iranian oil exports to international markets. Brent crude futures declined 89 cents, or 1.12%, to $78.66 per barrel by 0005 GMT, while US West Texas Intermediate (WTI) crude fell 98 cents, or 1.28%, to $75.81 per barrel. The losses extended a downward trend that began after Washington and Tehran finalized a 14-point memorandum of understanding designed to de-escalate tensions and restore stability to global energy markets. The…

VERSAILLES: United States President Donald Trump and Iranian President Masoud Pezeshkian signed a landmark agreement aimed at ending months of conflict in the Middle East, with Tehran agreeing to dilute its enriched uranium stockpiles in exchange for sweeping economic relief and sanctions easing. The memorandum of understanding was signed during a formal dinner at the Palace of Versailles following the G7 summit. Video footage released by a Trump aide showed the US president signing the document as world leaders, including French President Emmanuel Macron, applauded. “Just signed it,” Trump told reporters as he left the palace. Iranian Foreign Ministry spokesman…