Abbas condemned over scrapping law for allowances to families of people killed, injured or detained by Israel
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MENA
Move seen as way to appease the US administration that cut off funding to the Palestinian Authority in 2018
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The National
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Oil prices jump 4% on rising Middle East tension
Oil prices rose more than 4 per cent on Wednesday as the US was preparing to evacuate non-essential staff from its embassy in Baghdad amid rising regional tension. Brent crude futures rose $1.96, or 3.02 per cent, to $66.82 per barrel. West Texas Intermediate crude gained $2.93, or 4.51 per cent, to $67.90 per barrel at 4pm ET. 'It's so fragile. If you see any aberration like that, it doesn't surprise me at all you see volatility in oil prices,' said Peter Andersen, founder of Andersen Capital Management in Boston. The US State Department said it was preparing to evacuate non-essential staff in its embassy in Iraq, Opec's second-largest producer of crude oil behind Saudi Arabia. Non-essential staff members and family members were also authorised to leave Bahrain and Kuwait, according to reports. Tension in the region flared up on Wednesday as efforts between the US and Iran to reach a nuclear deal appeared to stall. In an interview with the New York Post published on Wednesday, President Donald Trump said he was getting 'less confident' about the prospects of a deal being reached. Mr Trump had previously expressed hope that the two sides could reach a deal, and a sixth round of talks were scheduled to take place in Oman on Thursday. 'Something happened to them, but I am much less confident of a deal being made,' he told the Post. Mr Trump added Tehran will not have a 'new nuclear weapon' regardless if a deal is reached. Matthew Bey, a senior global analyst at the Rane Network in Austin, said Mr Trump's comments are 'only reinforcing fears that nuclear talks may soon fall apart'. 'The likelihood of a US-Iran nuclear deal, even a temporary one, has declined in recent days as the White House has hardened its demand on Iran having to give up the right to enrich uranium and Iran has demonstrated little willingness to do so,' Mr Bey told The National in an email. Iran's Minister of Defence Aziz Nasirzadeh had also said on Wednesday that Tehran will strike US bases in the Middle East if nuclear talks fail and conflict arises. Major indexes on Wall Street wavered aftedr developments in the region, as investors continued to assess the prospects of a US-China trade truce and tame inflation data. The Dow Jones Industrial Average was virtually flat, losing 1.1 points at the closing bell. The S&P 500 and Nasdaq Composite both closed 0.27 and 0.50 per cent lower, respectively. 'Given such uncertainty in the markets right now we tend to defer being negative when we can't understand this stuff. There's a handshake deal, but it's a long way off from an actual deal,' Mr Andersen said.
The National
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Argentina's embassy to move to Jerusalem in 2026, President says
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The National
3 hours ago
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Lebanon looks to visitors from Gulf as it pushes to increase tourism
Lebanon is looking forward to a boost in tourism from Gulf countries as its new leadership works to rebuild ties after years of estrangement. The UAE and Kuwait have lifted bans on their citizens travelling to Lebanon after recent visits by President Joseph Aoun, who has also travelled to Saudi Arabia and Qatar after taking office in January. 'Lebanon is moving in the right direction, getting back to the Arab fold – and that's a Lebanese demand before anything else,' Fouad Dandan, Lebanon's ambassador to the UAE, told The National. Gulf tourists and investors − particularly from Saudi Arabia, Kuwait and the UAE − were significant contributors to the economy for decades before relations soured over the increasing influence of Iran over the country through Hezbollah. However, the Lebanese armed group and political party has been considerably weakened after a year-long war with Israel that led to them signing a peace deal last November. Preparations for an increase in arrivals are already under way, with an additional terminal to be built at Beirut's international airport. Plans for a new airport are also in the works, with Prime Minister Nawaf Salam announcing last month that the master plan would be unveiled shortly and the project thrown open to foreign investors. To be called the Rene Mouawad Airport, the new airport in Qlayaat 'could play a strategic role in facilitating cargo movement and affordable travel', Mr Salam told a conference in Beirut on Tuesday. At the same time, flag carrier Middle East Airlines is looking at setting up a low-cost carrier to serve destinations in the Middle East and Europe. The budget airline would be a wholly owned subsidiary of the wider MEA group but fully independent, Mohamad El Hout, chairman of MEA, told The National. He said MEA had seen 'significant growth in passenger traffic' this month, and was forecasting year-on-year growth of 10 per cent to 15 per cent in the second half of 2025. Given its history of conflict, Lebanon's security forces have also been rallied to encourage more foreign visitors. 'Preparations are under way to welcome tourists, though the state is working with a limited budget. Efforts have been made to improve visitors' experience. The road from the airport to Beirut has been repaired, and political banners and posters were removed months ago,' a senior security official involved in the operations told The National. 'What's new is the increased police presence near airport routes, especially at night. Police staffing has recently expanded to accommodate these new duties, and additional checkpoints are now active, with clear instructions to search suspicious vehicles and fine violators.' In the long run, drawing more visitors to its beaches, mountains and nightlife could play a key role in Lebanon's efforts to rebuild an economy hit by mismanagement, corruption and war, with the tourism sector estimated to account for 20 per cent of GDP. 'Eid Al Adha gives a glimpse of how this summer will look,' Jean Abboud, president of the Association of Travel and Tourist Agents in Lebanon, told The National. 'We're seeing new nationalities this year: Emiratis, Kuwaitis and Qataris. Gulf tourists tend to spend more time and money in the country. 'In May, airport traffic rose 11 per cent compared to the same period last year. The momentum is encouraging.'
