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US Central Command chief Adm. Brad Cooper testified before Congress that the investigation into the February 28 strike on a girls' school in Minab, Iran, is complex because the school was located on an active Iranian cruise missile site. Initial US military findings suggested US forces were likely responsible, but Cooper did not confirm responsibility, drawing criticism from lawmakers.
G7 finance ministers concluded a two-day meeting in Paris with a renewed commitment to multilateral cooperation, agreeing on the need to address trade imbalances and global economic instability. Despite tensions with the US over tariffs and Russia policy, the group reaffirmed its support for international institutions and vulnerable countries.
New data from Eurostat and Bruegel reveal that the European Union's imports of Russian liquefied natural gas reached a 14-month high in March, with Russia ranking second behind the US. Imports in the first quarter rose significantly year-on-year despite EU efforts to reduce reliance on Russian energy.
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi met in Andong for their fourth summit in six months, agreeing to enhance cooperation on energy supply chains, including LNG and crude oil swaps. The meeting underscored shared concerns over Middle East instability and reaffirmed trilateral security ties with the US.
South Korean stocks fell for a second consecutive session on Wednesday, with the KOSPI dropping 0.86% to 7,208.95, as foreign investors continued heavy selling of chipmakers and other heavyweights. The local currency gained ground against the U.S. dollar, while investors awaited Nvidia's earnings amid geopolitical tensions.
President Lee Jae Myung met with Japanese Prime Minister Sanae Takaichi to strengthen bilateral ties amid global instability, while Seoul manages conflicting narratives over an attack on the South Korean-operated vessel HMM Namu and volatile domestic economic indicators.
Finance Minister Koo Yun-cheol visited London and Paris to promote South Korea's economic strengths and AI capabilities, highlighting a shift from 'Korea discount' to 'Korea premium.' He also urged G7 nations to prioritize AI capacity building in developing countries and met with executives from major financial institutions.
South Korean President Lee Jae Myung and Japanese Prime Minister Sanae Takaichi held their fourth meeting in Andong, Lee's hometown, agreeing to enhance cooperation on supply chains and LNG and crude oil supplies amid Middle East conflict. The summit marked the first time sitting leaders of both countries have visited each other's hometowns.
US President Donald Trump announced he is delaying a planned military attack on Iran scheduled for Tuesday, citing requests from Qatar, Saudi Arabia, and the UAE to allow more time for negotiations. Trump said he has instructed the military to be prepared for a large-scale assault if an acceptable deal is not reached.
South Korea's household credit reached a record 1,993.1 trillion won ($1.33 trillion) in Q1 2025, marking the eighth consecutive quarterly rise though at a slower pace due to stricter lending regulations. While mortgage and credit purchases grew, concerns mount over record household debt and rising global bond yields, prompting caution from the Bank of Korea.
South Korean stocks experienced volatile trading sessions from May 18-20, 2026, as investors reacted to U.S. market declines, inflation concerns, and geopolitical tensions in the Middle East. The KOSPI opened lower on Monday, plunged sharply, then saw mixed but lower closes on Tuesday, before trimming losses on Wednesday.
South Korea's Financial Supervisory Service has cautioned that retail investors' heavy reliance on leveraged and margin trading could lead to significant losses as market volatility increases. The warning comes ahead of the introduction of single-stock leveraged ETFs, which may further channel retail capital into high-risk products. The KOSPI has surged over 70% this year, but recent sharp declines highlight the potential for sudden reversals.
Kenya's nationwide transport strike over fuel price hikes was suspended for a week after at least four people were killed and over 30 injured in protests. The government and transport unions will negotiate, while hundreds have been arrested and rights groups have condemned the use of force.
Pakistan has delivered a revised peace proposal from Iran to the United States, aiming to end the conflict in West Asia. Talks remain stalled with both sides citing major differences, while President Trump has warned of urgency and reportedly held off on a planned strike.
The US administration has reportedly deemed Iran's latest proposal for ending hostilities 'insufficient for a deal,' while Tehran insists on its demands and reviews the US response. Pakistan serves as a conduit for the exchange of proposals, with the US expecting an answer within 48 hours.
Iran has set up a new body to manage the Strait of Hormuz amid stalled negotiations with the United States, according to reports. A defense expert warns of a significant mismatch in expectations between Iran, the US, and Gulf Arab states.
Pakistan's KSE-100 index fell by 3,791 points (2.29%) on Monday, closing at 161,805.02, as investors reacted to stalled US-Iran negotiations and rising oil prices. The decline extended a six-session losing streak, with heavyweight stocks and broader Asian markets also under pressure.
Political figures Timi Frank and Atiku Abubakar raise separate concerns over former Kaduna Governor Nasir el-Rufai's legal situation, with Frank alleging a plot to arrest him from court and Abubakar condemning his continued detention as 'cruel' and politically motivated.
A new wave of Somali piracy is threatening shipping in the Western Indian Ocean, with three vessels hijacked in recent weeks. Experts point to regional conflicts and reduced naval presence as enabling factors, while underlying issues like illegal fishing and weak governance persist.
The global energy crisis, exacerbated by Middle East tensions, enters a new phase with Brent crude surpassing $111 per barrel. Analysts warn of potential price spikes to $180 and risks of a global recession, while the European chemical industry faces plant closures.