Author: EchoAsiaNews

WASHINGTON: The US Department of Defense has taken new steps that could restrict China’s access to American biotech markets and deepen scrutiny of firms linked to Beijing’s industrial and security apparatus, according to a Reuters Breakingviews report. The Pentagon has added Chinese biotech company WuXi AppTec to its list of firms it considers to have ties to China’s military, a designation that could significantly limit its ability to operate within US government-linked supply chains. The move forms part of a broader US strategy to reduce dependence on Chinese pharmaceutical and biotech inputs, while tightening national security controls over critical healthcare…

WASHINGTON: A US federal judge has blocked a Trump administration rule that would have imposed a $100,000 fee on each new H-1B visa application, ruling that the measure was unlawful and beyond executive authority. The decision was issued by Judge Leo Sorokin, who found that the proposed charge effectively functioned as a tax, which under US law can only be imposed by Congress. The rule, announced in September 2025 by President Donald Trump, sought to significantly increase costs for companies sponsoring foreign skilled workers under the H-1B visa programme, which is widely used in the technology, healthcare, and academic sectors.…

KYIV: A proposed sharp increase in Ukraine’s rail freight tariffs could put up to 300,000 jobs at risk in the country’s steel industry, the Ukrainian steelmakers’ union warned on Monday. The warning comes amid plans by state railway operator Ukrzaliznytsia to raise freight tariffs by around 45 percent in 2026, a move aimed at addressing financial losses and restructuring debt after sustained damage to infrastructure during the ongoing war. According to industry representatives, the proposed increase could severely undermine the competitiveness of Ukraine’s steel exports, which are already under pressure from reduced production capacity, rising energy costs, and war-related disruptions.…

KARACHI: The Pakistan Stock Exchange (PSX) rallied sharply on Tuesday, with the benchmark KSE-100 Index gaining 1,756.89 points, or 1.04 percent, to close at 170,710.59 points, as easing global oil prices and improving domestic political sentiment boosted investor confidence. The index closed higher compared to the previous session’s 168,953.70 points, reflecting broad-based buying across key sectors. Market analysts attributed the rally to a decline in international oil prices following a temporary de-escalation in tensions between Iran and Israel, which had previously driven volatility in global markets. “PSX is rising due to international oil prices coming down after yesterday’s escalation on…

HAVANA: A magnitude 6.1 earthquake struck off Cuba’s northwest coast on Monday, shaking parts of Cuba, Mexico, and the United States, according to the US Geological Survey (USGS). The quake occurred at a shallow depth of 26 kilometres and was centred approximately 104 kilometres west-northwest of Mantua in western Cuba, the USGS said. The tremor was felt across a wide area of the Caribbean, including the Yucatán Peninsula in Mexico and parts of Florida. Seismologists said the earthquake was unusual for the region. Paul Earle of the USGS noted that the event occurred within a tectonic plate rather than along…

MEXICO CITY: The 2026 FIFA World Cup will begin on Thursday as 48 nations compete in the largest edition of football’s premier tournament, co-hosted by the United States, Canada and Mexico. The tournament opens at Mexico City’s Estadio Azteca, where Mexico will face South Africa, marking the start of a six-week competition that will conclude with the final at MetLife Stadium in New Jersey on July 19. For the first time in World Cup history, 48 teams will participate, expanding the competition from 32 teams and increasing the number of matches to 104. A total of 32 teams will advance…

UNITED NATIONS: Pakistan’s Permanent Representative to the United Nations, Ambassador Asim Iftikhar Ahmad, told the UN Security Council that Islamabad would not allow any threat to its national security and accused India of pursuing policies aimed at destabilising Pakistan through militant groups operating from Afghan territory. Speaking during a Right of Reply at a Security Council meeting, the Pakistani envoy said Islamabad was fully aware of what he described as India’s efforts to support terrorist activities against Pakistan and would continue to take measures to counter such threats. Ambassador Asim said Pakistan has consistently supported Afghanistan through humanitarian assistance, political…

RAWALPINDI: Field Marshal Syed Asim Munir held talks with Lebanese Armed Forces Commander-in-Chief General Rodolphe Haykal at General Headquarters (GHQ) on Tuesday, focusing on regional security developments, defence cooperation and bilateral military relations. According to the Inter-Services Public Relations (ISPR), the two military leaders exchanged views on matters of mutual interest, the evolving regional security environment and avenues for expanding cooperation between the armed forces of Pakistan and Lebanon. The discussions emphasized enhanced professional interactions, training collaboration and stronger institutional linkages between the two militaries. Field Marshal Munir reaffirmed Pakistan’s commitment to its longstanding relationship with Lebanon and expressed the…

WASHINGTON: Two United States military pilots were rescued after an AH-64 Apache attack helicopter crashed near the Strait of Hormuz, President Donald Trump confirmed on Tuesday, saying both crew members were safe and no injuries were reported. “The pilots are fine. Nobody injured,” Trump told reporters at John F. Kennedy International Airport before departing for Washington. The incident was first reported by The New York Times, which said the helicopter went down near the strategically important waterway controlled by Iran. The cause of the crash remains unclear. Officials have not determined whether the aircraft was brought down by hostile fire,…

ISLAMABAD: Pakistan’s government is awaiting approval from the International Monetary Fund (IMF) for a package of proposed tax relief measures while simultaneously negotiating new revenue-enhancing steps ahead of the federal budget for fiscal year 2026-27. Officials said discussions with the IMF include proposals for reduced income tax slabs for salaried individuals, a two-percentage-point cut in the Super Tax, withdrawal of a 1 percent advance income tax on exporters, and incentives aimed at revitalising the property sector. At the same time, authorities are considering raising the General Sales Tax (GST) to the standard 18 percent on solar panels, hybrid vehicles and…