Author: EchoAsiaNews

The U.S. dollar has reclaimed its status as a global safe‑haven asset as geopolitical tensions escalate following a wave of U.S. and Israeli strikes on Iran that have rattled global financial markets, Reuters reported on Monday. The U.S. Dollar Index, which measures the currency against a basket of major peers, rose nearly 1%, marking its strongest one‑day gain in seven months as investors scrambled for safe assets amid heightened uncertainty. The rally underscores the dollar’s traditional appeal in crisis periods, reinforced by the depth and liquidity of U.S. financial markets, particularly Treasury securities. Analysts said that while doubts about the…

Israeli Prime Minister Benjamin Netanyahu said on Tuesday that the ongoing US‑Israel military campaign against Iran will not drag on for years, signalling confidence that the conflict can be contained in a shorter timeframe, Reuters reported. Netanyahu, speaking on Fox News’ “Hannity,” acknowledged the possibility that the confrontation may take “some time” but insisted it would not become an endless war like past prolonged regional conflicts, a message aimed at undercutting fears of a protracted engagement. The remarks come as the campaign enters its fourth day, triggered by a joint US‑Israeli air offensive that killed Iran’s Supreme Leader, Ayatollah Ali…

Global oil and gas shipping costs have soared to record levels as the US-Iran conflict escalates, with Iran targeting vessels passing through the Strait of Hormuz, a crucial chokepoint that carries about one-fifth of the world’s oil and significant liquefied natural gas (LNG) volumes. Shipping through the Strait has nearly halted after multiple ships were hit in Iranian retaliation for US and Israeli strikes that killed Iran’s Supreme Leader, Ayatollah Ali Khamenei, over the weekend, according to shipping data and industry sources. The benchmark freight rate for very large crude carriers (VLCCs) transporting 2 million barrels of Middle Eastern crude…

Swiss drugmaker Roche is targeting a double‑digit share of the global weight‑loss market and aims to significantly narrow the lead held by Danish rival Novo Nordisk, its Chief Executive told Germany’s Handelsblatt business newspaper. The company’s push into the obesity treatment sector reflects intensifying competition with established players that dominate the rapidly growing area of GLP‑1 and related therapies. Roche Chief Executive Thomas Schinecker said the company expects to secure at least a double‑digit percentage of the market and position itself among the top three competitors, challenging the long‑time market leadership of Novo Nordisk and other rivals. The comments underline…

The International Monetary Fund (IMF) review mission concluded its visit to Islamabad on Monday after expressing satisfaction with Pakistan’s economic performance, but also warning of downside risks and delays in agreed fiscal and structural targets, Geo News reported. The mission, led by Iva Petrova, met with Finance Minister Muhammad Aurangzeb and senior officials from the Finance Division, the State Bank of Pakistan and the Federal Board of Revenue (FBR) before departing for Turkey, where discussions on the third review of Pakistan’s Extended Fund Facility (EFF) arrangement and the second review of the Resilience and Sustainability Facility (RSF) will continue virtually.…

A total lunar eclipse will be observable from parts of Pakistan and across large areas of the globe on March 3, 2026, as the Moon passes through the Earth’s shadow and takes on a deep reddish hue. The Pakistan Meteorological Department (PMD) said the eclipse will begin with the penumbral phase at 1:44 pm Pakistan time, when the Moon enters the Earth’s outer shadow and dims slightly. The partial eclipse will start at 2:50 pm, followed by the beginning of totality at 4:05 pm, reaching its peak at 4:34 pm, and ending totality at 5:03 pm. The eclipse will conclude completely at 7:23 pm. Much of…

The United States Embassy in Islamabad and its Consulates General in Karachi, Lahore and Peshawar have temporarily suspended all routine visa and American Citizen Services (ACS), cancelling appointments for March 2, 2026, and warning that services will remain on hold at least through March 6 due to intensified security concerns across Pakistan. The U.S. Mission said it was monitoring ongoing demonstrations outside its diplomatic facilities in Lahore and Karachi and that there were calls for additional protests near the U.S. Embassy in Islamabad and the Peshawar mission, prompting U.S. personnel to be ordered to restrict their movements. The suspension affects…

King Fahd Sports City Stadium in Riyadh will host the opening and closing matches of the 2027 Asian Cup, the Asian Football Confederation (AFC) confirmed on Monday. The tournament, scheduled from January 7 to February 5, 2027, will serve as a major showcase ahead of Saudi Arabia’s hosting of the 2034 FIFA World Cup. “The King Fahd Sports City Stadium… will provide the backdrop for both the eagerly anticipated Final as well as the opening match, featuring hosts and three-time Asian champions Saudi Arabia,” the AFC said in a statement issued in Kuala Lumpur. The stadium, popularly known as “The…

Manchester United climbed to third place in the Premier League standings after a dramatic 2‑1 comeback victory over Crystal Palace on Sunday at Old Trafford. The hosts fell behind early when Palace defender Maxence Lacroix headed in a fourth‑minute corner, but the match turned shortly after the break when Lacroix was sent off for fouling Matheus Cunha inside the box. United captain Bruno Fernandes converted the resulting penalty in the 57th minute to level the score, and eight minutes later he provided the assist from a free kick for Benjamin Sesko’s decisive header, securing the comeback win and three crucial…

Several American warplanes crashed in Kuwait on Monday morning amid the third consecutive day of Iranian strikes in the Gulf, the Kuwait Defence Ministry confirmed. All crew members survived, and authorities immediately launched search and rescue operations, evacuating the personnel to hospitals for medical evaluation. Officials reported that the crew members are in stable condition, while the cause of the crashes remains under investigation. Simultaneously, black smoke was seen rising from the U.S. embassy in Kuwait, prompting a security alert advising people to avoid the premises. The embassy stated that personnel are sheltering in place and warned of ongoing missile…