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A string of suspected gangland shootings that killed four men in just eight days has shaken Kuala Lumpur, stoking public fears and casting doubt on police assurances that the city remains safe.The shootings took place in the Klang Valley – Malaysia’s most affluent region encompassing Kuala Lumpur and industrialised areas of neighbouring Selangor – after masked gunmen struck in full view of witnesses and CCTV cameras.The latest shooting on Friday saw a 46-year-old man gunned down in broad daylight as he sat in the driver’s seat of a four-wheel-drive car in Selangor’s port city of Klang, which has a reputation…

US air strikes on Iran sent oil prices soaring on Monday, leaving Asian shippers burdened with fresh costs on top of extra insurance premiums of US$1 million more per tanker, as Tehran threatened to close the crucial Strait of Hormuz sea lane.Up to 20 million barrels of oil pass each day through the strait, one-fifth of the global supply, most of it destined for East Asia’s biggest economies – China, South Korea and Japan.The neck of water is controlled by Iran, whose parliament on Sunday approved the closure of the shipping lane in response to the US joining Israel’s bombardment…

Hong Kong’s New World Development said talks with creditors about refinancing its HK$124 billion (US$15.8 billion) debt were “ongoing”, downplaying “market speculation and rumours” about an imminent deal while analysts said government support and bank leniency would help the company navigate the crunch.The city’s most indebted developer said in a stock-exchange filing on Monday that it was aware of speculation about the refinancing of its existing loans, adding that it remained “actively engaged” with its creditors.The statement followed a recent Bloomberg report that said the debt-laden firm was nearing a HK$87.5 billion deal to refinance its loans after months of…

Footage on social media of what appears to be the new Chinese HQ-29 ballistic missile defence system on the move has triggered speculation that it could make its debut at a military parade in Beijing in September.The system has yet to be officially acknowledged but is believed to be more advanced than known Chinese missile shields including the HQ-19, which has been likened to the US Terminal High Altitude Area Defence (THAAD) system.A video clip posted on Tuesday to Chinese social media shows the six-axle transporter erector launcher – a vehicle used to transport and launch missiles – carrying two…

THE HAGUE, Netherlands (AP) — NATO leaders are expected to agree this week that member countries should spend 5% of their gross domestic product on defense, except the new and much vaunted investment pledge will not apply to all of them.Spain has reached a deal with NATO to be excluded from the 5% of GDP spending target, while President Donald Trump said the figure shouldn’t apply to the United States, only its allies.In announcing Spain’s decision Sunday, Prime Minister Pedro Sánchez said the spending pledge language in NATO’s final summit communique — a one-page text of perhaps half a dozen…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.06% during trading in the interbank market on Monday. At close, the local currency settled at 283.87, a loss of Re0.17 against the greenback. During the previous week, the rupee weakened further as it depreciated Re0.74 or 0.26% against the US dollar. The local unit closed at 283.70, against 282.96 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the US dollar firmed slightly on Monday as anxious investors sought safety,…

Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee posted marginal decline against the US dollar, depreciating 0.06% during trading in the interbank market on Monday. At close, the local currency settled at 283.87, a loss of Re0.17 against the greenback. During the previous week, the rupee weakened further as it depreciated Re0.74 or 0.26% against the US dollar. The local unit closed at 283.70, against 282.96 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Internationally, the US dollar firmed slightly on Monday as anxious investors sought safety,…

Intense selling pressure gripped the Pakistan Stock Exchange (PSX) on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. Bearish sentiments prevailed throughout the trading session, dragging the benchmark index to an intra-day low of 115,887.49. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. This is the lowest level seen after May 9, 2025, said Arif Habib Limited (AHL), in a note. Across-the-board selling was observed, especially in key sectors including automobile assemblers, oil and gas exploration companies,…

Intense selling pressure gripped the Pakistan Stock Exchange (PSX) on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. Bearish sentiments prevailed throughout the trading session, dragging the benchmark index to an intra-day low of 115,887.49. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. This is the lowest level seen after May 9, 2025, said Arif Habib Limited (AHL), in a note. Across-the-board selling was observed, especially in key sectors including automobile assemblers, oil and gas exploration companies,…

Intense selling pressure gripped the Pakistan Stock Exchange (PSX) on Monday amid escalating geopolitical tensions following a US attack on Iran, with the benchmark KSE-100 settling with a loss of nearly 3,900 points. Bearish sentiments prevailed throughout the trading session, dragging the benchmark index to an intra-day low of 115,887.49. At close, the KSE-100 Index settled at 116,167.47 level, a decrease of 3,855.77 points or 3.21%. This is the lowest level seen after May 9, 2025, said Arif Habib Limited (AHL), in a note. Across-the-board selling was observed, especially in key sectors including automobile assemblers, oil and gas exploration companies,…