Iraq sets election date and US-Russia embassy talks take place
On this episode of Trending Middle East:
Iraq to hold parliamentary elections on November 11
US and Russian officials to meet for second round of embassy talks in Istanbul
A UK tax rate of 67% makes Dubai move the obvious choice for the non-domiciled
This episode features Sinan Mahmoud, Iraq Correspondent; Lizzie Porter, Turkey Correspondent, and Tariq Tahir, Senior Investigations Correspondent.
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Arabian Post
8 hours ago
- Arabian Post
Oil Holds Firm as Market Awaits Key US-Russia Talks
Arabian Post Staff -Dubai Oil prices held steady after a slight decline in thin trading, with market participants awaiting a critical meeting between US and Russian leaders. Global benchmark Brent crude remained above $66 per barrel, while West Texas Intermediate hovered around $63. The modest drop in prices, which amounted to a 0.8% decrease in the previous session, marked a quiet period in the market as traders refrained from making significant moves. Investors are now looking ahead to upcoming discussions between US Secretary of State Marco Rubio and Russian Foreign Minister Sergey Lavrov. These talks are expected to set the stage for a high-stakes summit between President Joe Biden and Russian President Vladimir Putin, scheduled for later this week. ADVERTISEMENT The ongoing volatility in oil markets, coupled with geopolitical uncertainty, has contributed to the recent fluctuation in prices. Despite this, oil has largely remained above the $60 per barrel mark, as tightening supplies and ongoing tensions in key production regions continue to support price levels. Analysts are paying close attention to the diplomatic developments between the US and Russia, which could have broader implications for the energy sector. Market sentiment has been influenced by both nations' roles as major players in global energy production and their influence on decisions within organisations such as OPEC+. The summit will centre around various issues, including security concerns and energy policies. With both nations holding significant sway in global oil production, the discussions could have far-reaching consequences for the market. A breakthrough or escalated tension could prompt either a surge or a dip in oil prices depending on the outcome of the talks. Investors are also looking at other global factors that could sway oil prices. In the US, the energy industry is continuing to recover from the impacts of the pandemic, with some analysts forecasting a strong rebound in demand as economies continue to reopen. However, the overall uncertainty surrounding economic recovery, inflation concerns, and ongoing supply chain issues are making the market particularly sensitive to external events. OPEC+, the alliance of oil-producing nations, has played a significant role in stabilising prices in the past year. Its production cuts, alongside the gradual return of demand, have helped lift oil prices from the lows seen in 2020. As the group navigates production decisions and adapts to the changing landscape, it has become a crucial player in shaping the trajectory of global oil markets. In addition to geopolitical tensions, the market is also contending with shifting dynamics in energy consumption. The growing push for renewable energy and the evolving role of electric vehicles are reshaping demand forecasts. With governments around the world pledging to reduce carbon emissions and transition towards greener energy sources, there is a growing expectation that long-term demand for fossil fuels may face pressure. This evolving energy landscape will inevitably impact the future of oil markets. Despite these broader trends, short-term market activity is heavily influenced by supply-demand imbalances, particularly in the wake of global events. As the US and Russia prepare for their talks, traders will continue to watch for any signals of change in the balance of power within the energy sector. A shift in policy or a sudden geopolitical event could have immediate and lasting effects on oil prices.
Al Etihad
20 hours ago
- Al Etihad
White House: Trump to meet Putin in Anchorage, Alaska
12 Aug 2025 22:51 WASHIGNTON (dpa)The highly anticipated meeting between US President Donald Trump and his Russian counterpart Vladimir Putin in the US state of Alaska will take place in the city of Anchorage, the White House said on will set off for the meeting on Friday morning, said his spokeswoman Karoline US president intends to discuss Russia's war against Ukraine with Putin in confirmed that a one-to-one conversation between the two presidents is planned. She did not provide a specific schedule for the meeting and noted that details are still being worked in the south of Alaska, Anchorage is the largest city in the northernmost US Foreign Minister Sergei Lavrov and US Secretary of State Marco Rubio have consulted ahead of the summit in Alaska, the Foreign Ministry in Moscow announced on and Rubio expressed their hopes that the details discussed would be successful, the ministry said. However, the brief statement about the phone call did not provide further specifics. Trump presents the meeting in Alaska as an attempt to move closer to ending the fighting in Ukraine, and has spokes of a possible exchange of territories between Ukraine and Russia. Ukraine has meanwhile firmly rejected any territorial concessions.
Gulf Today
20 hours ago
- Gulf Today
India, China to resume direct flights in sign of closer ties
India and China are set to resume direct flight connections as soon as next month, people familiar with the negotiations said, as the world's two most populous countries seek to reset their political ties. Airlines in India have been asked by the government to prepare flights to China at short notice, with a possible official announcement as soon as the Shanghai Cooperation Organisation summit at the end of August in China, said the people, asking not to be identified because the negotiations are ongoing. Passenger flights between India and China were suspended after the Covid-19 pandemic, forcing travelers from the two neighboring countries to pass through hubs like through Hong Kong or Singapore. The renewed push to rebuild a direct link comes at a time when India's relations with the US have come under considerable strain, after US President Donald Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil. On Monday, Air India announced it would suspend its direct link to Washington, DC, next month, citing 'operational factors' as the reason. The carrier still flies to New York and San Francisco. Diplomatic ties between the two Asian heavyweights hit a low point in 2020, when border clashes left 20 Indian fighters and an unknown number of Chinese soldiers dead. India recently allowed tourist visas for Chinese nationals after years of curbs. Prime Minister Narendra Modi will attend the SCO summit in Tianjin starting Aug. 31, where he may meet Chinese President Xi Jinping. India's aviation ministry, the Directorate General of Civil Aviation, and the country's press information bureau did not respond to requests for comment. The exact timing of any flight resumption remains fluid, and talks might still hit a snag, the people cautioned. Before the suspension, Indian carriers including Air India and IndiGo, as well as Chinese airlines such as Air China, China Southern and China Eastern ran services between key cities of the two countries. A resumption is likely to see both Air India and IndiGo restarting flights to China, the people said. Air India and IndiGo did not respond to emails seeking comment. India and China had first agreed in January to resume direct flights, before relations between the two countries cooled again amid India's limited war with Pakistan. The two countries then announced a takeup of direct connections once more in June, though without any visible progress. Plans to rebuild direct links only gained pace in the past two weeks, and the airlines involved have also been informed about the proposal, the people said. The number of direct flights between the US and China has dwindled by nearly three-quarters since 2019 to a scheduled 9,726 this year, based on data from Cirium. Airlines plan to offer just more than 3 million seats on such flights in 2025, up 15% from 2024 levels. In July, Chinese Foreign Minister Wang Yi said that Beijing and New Delhi should work towards mutual trust and "win-win" cooperation, after talks with his Indian counterpart Subrahmanyam Jaishankar, state news agency Xinhua reported. China and India should "adhere to the direction of good-neighborliness and friendship" and "find a way for mutual respect and trust, peaceful coexistence, common development and win-win cooperation", Wang said, according to Xinhua. The two foreign ministers met in Beijing as the two rivals seek to repair ties following a 2020 clash on their border. The world's two most populous nations are intense rivals competing for strategic influence across South Asia, and their 3,500-kilometre (2,200-mile) frontier has been a perennial source of tension. India's Prime Minister Narendra Modi and China's President Xi Jinping met for the first time in five years later that month, agreeing to work on improving relations. New Delhi is concerned over Beijing's increasing presence in the Indian Ocean, seeing the region as firmly within its sphere of influence. Another source of tension is the Dalai Lama, the Tibetan spiritual leader India has hosted since he and thousands of other Tibetans fled Chinese troops who crushed an uprising in their capital Lhasa in 1959. The 90-year-old Dalai Lama says only his India-based organisation has the right to identify his eventual successor. China insists that it would have final say on who succeeds the Tibetan spiritual leader. Agencies
