  We present an axially symmetric, asymptotically flat empty space solution of
the Einstein field equations containing a naked singularity. The spacetime is
regular everywhere except on the symmetry axis where it possess a true
curvature singularity. The spacetime is of type D in the Petrov classification
scheme and is locally isometric to the metrics of case IV in the Kinnersley
classification of type D vacuum metrics. Additionally, the spacetime also shows
the evolution of closed timelike curves (CTCs) from an initial hypersurface
free from CTCs.
