Goldman Sachs expects OPEC8+ to raise oil output by 0.55 mb/d in September
The OPEC+ group comprising the Organization of the Petroleum Exporting Countries and allies such as Russia, is expected to keep its production quota unchanged after September, the investment bank said in a note.
(Reporting by Brijesh Patel in Bengaluru; Editing by Jacqueline Wong)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
BRIDGE Roadshow lands in Shanghai as UAE spearheads global dialogue to redefine the future of media
Dr. Jamal Mohammed Obaid Al Kaabi: China is a leading model in media innovation and shaping global narratives BRIDGE Roadshow in Shanghai highlights China's role in shaping the new media landscape. Global voices gather in Shanghai to explore innovation, responsibility, and more balanced media perspectives. Sessions explored new horizons for media collaboration, drawing on innovation, smart technologies, and cultural diplomacy to shape a more balanced and impactful global media landscape. SHANGHAI, China: The BRIDGE Roadshow continues its momentum as Shanghai, China, hosts the latest stop in its global journey, bringing together leaders from media, technology, business, finance, and public policy to explore the evolving role of media and information ecosystems. The event serves as a critical milestone in the lead-up to the BRIDGE Summit 2025 - the largest platform uniting media, cultural and creative content creators, leaders, and decision-makers to transform how the world communicates, set to take place in Abu Dhabi, from 8 - 10 December 2025. Following the successful events in New York, London, and Osaka, Shanghai becomes the latest hub for the global conversation on how today's information dynamics are reshaping economies, governance, culture, and public trust. At this pivotal gathering, leading voices from Asia and beyond came together to discuss the region's growing influence on global media and culture, and to examine the role of innovation and responsibility in the fast-changing media landscape. Shanghai: Spotlight on innovation and media leadership Shanghai provided a dynamic backdrop for the BRIDGE Roadshow, aligning with the city's prominent role in the global media and tech landscape. In the presence of His Excellency Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the UAE National Media Office and the UAE Media Council, His Excellency Muhannad Sulaiman Al Naqbi, Consul General of the United Arab Emirates in Shanghai, and His Excellency Khalid Al Shehhi, Deputy Ambassador of the Embassy of the United Arab Emirates in China, the event attracted leaders from across media, technology, and business to discuss how innovation, technology, and cultural influence are converging in the global media narrative. A central theme of the Shanghai event focused on the role of innovation in media and how China's platforms and creators are reshaping the global media landscape. A key discussion, moderated by John Darling, Co-Founder & CEO, Creative Capital Ventures, centred on whether Chinese stories could shape the international narrative, considering how China's unique position in global media offers new opportunities for soft power. The panellists, including Joleen Liang, Co-Founder & President of Squirrel AI Learning, Zengxin Li, Deputy General Manager of Caixin Global, and Dennis Potgraven, Chief Strategy Officer of WPP Media China, explored the challenges and opportunities of this dynamic. They discussed how Chinese platforms are influencing perceptions both locally and globally, with an emphasis on how these platforms are redefining what it means to tell a story in today's interconnected world. Another central theme in Shanghai was the potential of gaming as the next frontier of cultural influence. A talk, led by Fangda Wan, Founder & General Partner of Gam3Girl Ventures, discussed how China's gaming industry is rapidly evolving into a nearly $50 billion market, offering new ways to blend technology with culture. Speakers examined how gaming is becoming a powerful force in global media, allowing for new forms of storytelling that merge traditional Chinese narratives with cutting-edge technology. H.E Abdullah bin Mohammed Al Hamed: The world needs a comprehensive intellectual vision that reaffirms the humanistic and civilisational role of media H.E. Abdulla bin Mohammed bin Butti Al Hamed, Chairman of the National Media Office and Chairman of the UAE Media Council, emphasised that the Shanghai stop of the BRIDGE Roadshow marks a defining moment, highlighting China's dynamic media and cultural landscape and its growing impact on shaping global narratives. The Chairman stressed that the challenges facing global media today are not limited to tools or platforms, but extend to the overarching vision guiding them. While technologies continue to evolve rapidly, there remains a pressing need for a comprehensive intellectual outlook that reaffirms the media's humanistic and civilisational role as a platform for meaningful content and a key contributor to knowledge-based societies and future economies. H.E. also underlined that the Roadshow's path through New York, London, Osaka, and now Shanghai reflects the UAE's deep-rooted commitment to cultivating more balanced and inclusive global media perspectives. This effort is rooted in the UAE's core belief in building bridges of communication and fostering meaningful cultural exchange. The Chairman concluded by stating that the discussions held during the Shanghai stop will help enrich the agenda of the upcoming Bridge 2025 Summit in Abu Dhabi, which will serve as a platform bringing together media decision-makers and influence alliances, aiming to explore the future of media and strengthen its role as a partner in development, innovation and global understanding. Dr. Jamal Mohammed Obaid Al Kaabi: China is a leading model in media innovation and shaping global narratives For his part, H.E. Dr. Jamal Mohammed Obaid Al Kaabi, Director-General of the UAE National Media Office, shared his perspective on the evolving media ecosystem: 'As the media landscape continues to evolve at an unprecedented pace, China's innovative leadership in media and cultural industries is playing a pivotal role in shaping global narratives. Through a unique blend of tradition and cutting-edge technology, Chinese platforms and creators are expanding the boundaries of soft power, offering diverse perspectives that are reshaping how news and stories are consumed around the world. BRIDGE provides an essential platform to bring together leaders and innovators from across the globe, helping to ensure that the stories we tell remain authentic, inclusive, and impactful.' Connecting conversations: Expanding on the global dialogue The BRIDGE Roadshow series is designed to fuel an ongoing discussion about the future of media. Each stop contributes to Connecting Conversations, an evolving series of insights that will inform the programming and partnerships for BRIDGE Summit 2025 in Abu Dhabi. In New York, the focus was on AI's role in ensuring trust in media, while London explored narrative diplomacy and the responsibility of media in cross-border relations. Osaka, which preceded Shanghai, placed a strong emphasis on media innovation and the ethical use of generative AI. Osaka, which marked the third stop on the roadshow after New York and London, explored themes of AI, media innovation, and cultural authenticity, setting the stage for Shanghai to dive deeper into China's role in shaping global narratives. In Shanghai, with its dynamic creative economy, further explored the delicate balance between technological advancement and cultural authenticity in the media space. The roadshow continues to build momentum, offering new perspectives on how media, technology, and culture intersect in a rapidly transforming world. BRIDGE Summit 2025: Where influence meets impact BRIDGE Summit 2025 will serve as a space for content creators, artists, influencers, and agencies — those who know how to engage — to join forces with government entities, investors, and corporations — those who have the power to shape change. By bridging these two worlds, the summit will unlock purpose-driven collaborations that shape public perception and influence behaviour across borders. This is where thought leadership meets business innovation — providing the space and tools for a new generation of global communicators to co-create solutions that transcend entertainment and drive tangible, lasting impact. Registrations for BRIDGE Summit 2025 are now open at
Khaleej Times
16 hours ago
- Khaleej Times
NRIs in UAE: How to file Income Tax Return online, complete step-by-step guide
Do you live in the UAE and earn income in India? Here's some good news, the deadline for filing your Income Tax Return (ITR) has been extended to September 15, 2025. The extension aims to give taxpayers more time to ensure accurate filing and full compliance with tax regulations. Non-Resident Indians most commonly file for ITR-2, of all the types. Below is a step-by-step guide on how you can file your ITR online. This process begins after you've completed the pre-filing stage, where you're required to enter all relevant income and tax-related information. 1. Log in to the e-Filing portal Visit the official e-Filing portal and log in using your PAN (as User ID), password, and captcha code. 2. Begin the Filing Process Once logged in, go to your dashboard and navigate to: e-File > Income Tax Returns > File Income Tax Return If your PAN is not linked with Aadhaar, a warning message will pop up indicating that your PAN is inoperative. You can either click 'Link Now' to link it immediately or proceed (not recommended). 3. Choose the assessment year Select Assessment Year 2024–25 and click 'Continue'. 4. Select mode of filing Choose 'Online' as your preferred mode and proceed. If you've started a return previously, you'll see the option to 'Resume Filing'. To discard the existing draft and begin anew, click 'Start New Filing'. 5. Specify your filing status Choose the category that applies to you: Individual, HUF, or Others. Click 'Continue'. 6. Select the appropriate ITR form You have two options: Help me decide: Let the system guide you based on your responses to simple questions. I know which ITR form I need: If you're sure, select the correct form from the dropdown and proceed. If you're unsure about which ITR form, schedules, or deductions apply to you, the guided option is the safer choice. 7. Review required documents Before proceeding, you'll see a checklist of documents needed. Click 'Let's Get Started' to continue. 8. Review and edit pre-filled data Your personal details and other information may already be pre-filled from previous records. Review this carefully, make any necessary changes, and complete the additional fields. Click 'Confirm' after each section. 9. Enter income and deduction details Provide your income details from salary, interest, business/profession, etc., and claim applicable deductions under various sections (e.g., 80C, 80D). After completing all sections, click 'Proceed'. 10. Tax Summary and Payment If tax is payable You will see a summary of your tax computation. You can either: Pay now Pay later: But this may attract interest or penalty and flag you as a defaulter. If no tax is payable or a refund is due If there is no tax liability or if you're eligible for a refund, click 'Preview Return' to proceed. 11. Make payment (if applicable) If you chose to 'Pay Now', a message will appear confirming redirection to the 'e-Pay Tax Service'. Click 'Continue', complete the payment, and return to the filing portal. 12. Return to filing dashboard After successful payment, click 'Return to Filing' to resume the ITR submission process. 13. Preview your return Click 'Preview Return' and review the full summary of your inputs. 14. Make declaration Enter your place of residence, tick the Declaration checkbox, and click Proceed to Preview. If you haven't used a Tax Return Preparer (TRP), leave those fields blank. 15. Final review and validation Go through your return one last time and click 'Proceed to Validation'. 16. Error check If errors are detected, you'll need to correct them before submission. If there are no errors, proceed to verification. 17. Verify your return On the 'Complete Your Verification' page, choose your preferred verification method and click 'Continue'. - e-Verification is the easiest, safest, and fastest method. If your PAN is still inoperative, you'll see a reminder to link it with Aadhaar. - If you choose 'e-Verify Later', ensure the return is verified within 30 days of filing, or it will be treated as invalid. 18. Complete e-Verification You can e-Verify using options such as: All done! Once verification is complete:
Arabian Post
18 hours ago
- Arabian Post
India maintains oil trade with Russia amid growing pressures
Despite mounting international tensions and growing calls for sanctions, India has confirmed its commitment to continuing oil purchases from Russia. The decision, which has drawn both support and criticism, comes in the face of strong opposition from Western powers, particularly the United States. India's robust relationship with Russia, especially in energy sectors, remains central to its strategy to ensure energy security amid global market volatility. While the United States has intensified its warnings against increasing trade with Russia, citing geopolitical risks and the ongoing war in Ukraine, Indian officials assert that the decision aligns with the country's broader economic interests and long-term energy goals. The timing of the announcement comes as global oil prices continue to fluctuate, driven by factors ranging from OPEC+ production cuts to the ripple effects of the Russia-Ukraine conflict. With Russia now facing significant sanctions from the West, including oil price caps and restrictions on exports, India has emerged as one of the largest buyers of Russian crude oil, navigating complex international pressures while keeping its energy needs in focus. ADVERTISEMENT India's oil imports from Russia soared in the wake of the war in Ukraine, particularly after Western nations moved to isolate Moscow from the global market. The country, which historically sourced much of its oil from the Middle East, found Russian oil a lucrative alternative as Western sanctions created discounts, allowing India to tap into a relatively cheap energy supply. Russia, in turn, welcomed the partnership, as it opened new markets and ensured continued demand for its oil. According to official sources, Russia's increased sales to India, and other non-Western nations, helped offset some of the lost revenue due to sanctions. India's government, however, has been careful to position its stance within a framework of neutrality. Public statements highlight that the nation's energy decisions are based on its own national interest, focusing primarily on economic stability and the welfare of its people. Officials have also pointed out that India is among the world's most energy-hungry nations and needs to secure a steady and affordable supply of oil to support its growing population and economic expansion. Internationally, this trade has sparked debates over the moral and strategic implications of engaging with Russia. Critics argue that by maintaining ties with Russia, India risks undermining global efforts to isolate Moscow, particularly as Western governments seek to enforce stricter sanctions. They point out the tensions between India's non-alignment policy and its deepening economic relationship with a nation under international scrutiny. On the other hand, some argue that India's approach reflects a pragmatic understanding of its own strategic priorities, particularly the need to balance international relationships with domestic requirements. With rising fuel costs and inflation becoming pressing issues for many nations, securing affordable energy resources has become a matter of national security. India's oil trade with Russia, however, is not without its challenges. Western nations have long pressured India to reduce its dependence on Russian energy. The Biden administration, particularly, has warned that India's continued imports could strain relations, especially as the US seeks to maintain solidarity with its European allies in pressuring Russia. Washington's position on the matter is clear: nations that continue to do business with Russia will face consequences, with potential impacts on trade and geopolitical ties. Yet, India's economic and geopolitical imperatives make it unlikely to back down. As part of the BRICS group, which also includes Brazil, Russia, China, and South Africa, India has voiced its commitment to a multipolar world order where nations can pursue their own economic paths, free from external coercion. India has also consistently argued for the need for dialogue and peaceful resolution in the Russia-Ukraine conflict, advocating for diplomacy over military escalation. The ongoing conflict has undeniably reshaped global energy dynamics, forcing countries to reassess their energy strategies and alignments. While India's stance has garnered significant attention, its broader approach is seen as part of an evolving foreign policy that seeks to advance national interests without being swayed by external pressures.
