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SEOUL, May 22 (Yonhap) -- The South Korean won sharply weakened against the U.S. dollar Friday as oil prices climbed over renewed uncertainties surrounding the peace deal between the United States and Iran to end the war in the Middle East.
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The U.S. and Iran have signaled progress in talks to end the war, but the combatants remain at loggerheads over Tehran's enriched uranium stockpile and tolls on the strategically vital Strait of Hormuz.
FILE -Police patrol the streets on election day in Zanzibar, Tanzania, Oct. 30, 2025. (AP Photo, File)
The benchmark Nikkei Stock Average ended the day at 63,339.07, jumping over 1600 points. (File photo by Nozomi Okubo)
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Iran and the United States are continuing mediated talks aimed at ending the conflict, with Iranian media reporting that both sides are exchanging messages and draft proposals to establish a formal framework for an agreement.
SEOUL, May 22 (Yonhap) -- South Korean stocks closed mildly higher Friday, extending their win for a second straight session, amid rising hopes for a diplomatic resolution to the conflict between the United States and Iran. The local currency lost ground against the U.S. dollar.
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A U.S.-made M1A2T Abrams tank takes part in live-fire exercises in Hsinchu, Taiwan, in July 2025. © Reuters
On 13 May, Benjamin Netanyahu's office issued a brief yet dramatic statement saying that, during the war with Iran, the Israeli prime minister had "secretly visited" the United Arab Emirates and met President Mohammed bin Zayed in what it described as a "historic breakthrough".
After the bloodshed of last week’s budget, Australian markets have calmed a little this week. Aided by US President Trump’s latest truth social tirade, the temperamental leader of the free world suggested that the US and Iran were once again in the “final stages” of negotiations.
Shares listed in Europe look set to move higher at the open on Friday, with the U.S.-Iran war and economic data in focus.
The new facility will help nations deal with urgent energy, food and economic resilience needs, according to the bank
The new facility will help nations deal with urgent energy, food and economic resilience needs, according to the bank
Pakistan’s Interior Minister held another meeting with Iran’s Foreign Minister Abbas Araghchi to discuss proposals for resolving tensions with the US, according to Iran's semi-official news agency Tasnim.
The ceasefire with Iran continues to hold, but US President Donald Trump is facing a major challenge on the home front: a fracture in his base over the war and more broadly over American support for Israel.
In today's episode of Trending Middle East, mediators led by Pakistan are working to narrow differences between Iran and the US before possible direct talks resume next week.
Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon)
Workers assemble furniture parts for export to the U.S. at Corporate Specialist's plant in Muar, Malaysia: Executives say more than 100 local companies have closed recently. © AP
Iran’s Ministry of Foreign Affairs condemned US sanctions on the country's ambassador to Lebanon alongside several other Lebanese officials and citizens.
France's Finance Minister said that governments should first have clarity on the duration of the war on Iran before releasing oil reserves.
From the Iran conflict rattling Chinese investors to Li Ka-shing’s charitable support, here are highlights from SCMP’s recent reporting
From the Iran conflict rattling Chinese investors to Li Ka-shing’s charitable support, here are highlights from SCMP’s recent reporting
TEHRAN, Iran—US Secretary of State Marco Rubio voiced hope of progress on ending the war with Iran, as he looked to Pakistani mediators to help advance efforts to strike an agreement.
A top United States military official has said Washington is pausing a $14bn arms sale to Taiwan to conserve munitions for its war on Iran.
Latest updatesIran war latest: No deal reached yet but gaps have been narrowed, Iranian source says
Tehran has sent a new proposal to the United States that includes the exit of US forces from areas close to Iran, reparations for destruction caused by the US-Israeli war, the lifting of sanctions, the release of recently frozen funds, and an end to the US maritime blockade in the Strait of Hormuz.
Newly opened trade corridors between the UAE and Oman are playing a critical role in the transport of essential and time-sensitive cargo, as the Strait of Hormuz remains closed as a result of Iran war.
As night falls on Iran's cities, the rallies swell. In places such as Enghelab (Revolution) Square in Tehran, thousands gather under a canopy of Iranian flags.
It took the Houthis at least a month to enter the Iran conflict in late March and early April and the Yemeni rebels have been largely restrained since a Pakistan-brokered truce began last month.
US Secretary of State Marco Rubio will meet NATO allies on Friday for the first time since President Donald Trump called the alliance into question due to divisions over the Iran war and Washington announced plans to pull 5,000 troops from Europe.
The discussions suggest that the United States and the Iranian government may not be close to reaching a deal to end a war that has badly damaged the global economy.
Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of the CNBC Daily Open.
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The US president’s announcement comes a day before Nato foreign ministers are due to meet, with Marco Rubio criticising the alliance’s failure to help with Iran
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Cancellation, which avoids embarrassment for Trump, is latest signal of diminishing congressional support for war
Oil prices resumed their rally Friday after declining for three straight sessions as investors weighed mixed messaging on Iran peace deal negotiations.
Is the Iranian regime the immediate barrier to oil tankers seeking to exit the Strait of Hormuz, or is it fear of liability that's keeping shipping companies at bay?
South Korean stocks opened slightly higher Friday following the previous session's sharp rise, tracking overnight gains on Wall Street amid rising hopes for a diplomatic resolution to the conflict between the United States and Iran.
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SEOUL, May 22 (Yonhap) -- South Korean stocks opened higher Friday following the previous session's sharp rise, led by tech gains, tracking overnight gains on Wall Street amid rising hopes for a diplomatic resolution to the conflict between the United States and Iran.
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Asia-Pacific markets were set to open higher Friday as investors assess U.S.-Iran diplomatic efforts at reaching a peace deal in the Middle East.
Un letrero en el que se culpa a las políticas del estado por el elevado costo de la gasolina, en una gasolinera Chevron, el jueves 21 de mayo de 2026, en Alameda, California. (AP Foto/Terry Chea)
Israel conserved its air defense interceptors during the war on Iran, while the US expended significant portions of its own high-tech stockpiles, the Washington Post reported on Thursday, citing anonymous US officials.
The United States has denied that the cancellation of sanctions against Francesca Albanese, the United Nations special rapporteur for the Palestinian territory, constitutes a change in the government’s policy.
