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Arab leaders promise to work on reconstruction of Gaza and again press for a ceasefire

Arab leaders promise to work on reconstruction of Gaza and again press for a ceasefire

BAGHDAD: Arab leaders meeting at an annual summit in Baghdad said Saturday that they were trying to reach a ceasefire between Israel and Hamas in the Gaza Strip and promised to contribute to the reconstruction of the territory once the war stops.
In March, an emergency Arab League summit in Cairo endorsed a plan for Gaza's reconstruction without displacing its roughly 2 million residents.
The summit in Baghdad was attended by Arab leaders including Qatar's Emir Sheikh Tamim bin Hamad Al Thani and Egypt's President Abdel Fattah el-Sissi. Among the guests were Spanish Prime Minister Pedro Sánchez and U.N. Secretary-General António Guterres, who called for the release of Israeli hostages in Gaza and the flow of aid into the besieged territory. He said that the U.N. rejects any 'forced displacement' of Palestinians.
Saturday's summit comes two months after Israel ended a ceasefire reached with the Hamas militant group in January. In recent days, Israel has launched widespread attacks in Gaza and Prime Minister Benjamin Netanyahu has vowed a further escalation to pursue his aim of destroying Hamas.
'This genocide has reached levels of ugliness not seen in all conflicts throughout history,' Iraq's Prime Minister Mohammed Shia al-Sudani said in a speech that called for allowing aid to flow into Gaza. Al-Sudani added that Iraq will work on setting up an Arab fund for the reconstruction of the region in which Baghdad will pay $20 million for Gaza and a similar amount for Lebanon.
El-Sissi said that Egypt, in coordination with Qatar and the U.S., is 'exerting intense efforts to reach a ceasefire' in Gaza, adding that the efforts led to the release of Israel-American hostage Edan Alexander. He said that Egypt plans to hold an international conference for the reconstruction of Gaza 'once the aggression stops.'
Palestinian President Mahmoud Abbas called on Hamas to abandon power in Gaza and along with other militant groups to hand over weapons to the Palestinian Authority. Hamas seized control of Gaza from Abbas' Western-backed Palestinian Authority in 2007, and reconciliation attempts between the rivals have repeatedly failed.

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US puts hard terms on table, presents a take-it-or-leave-it offer; demands access to agriculture, dairy, pharma
US puts hard terms on table, presents a take-it-or-leave-it offer; demands access to agriculture, dairy, pharma

Mint

time34 minutes ago

  • Mint

US puts hard terms on table, presents a take-it-or-leave-it offer; demands access to agriculture, dairy, pharma

The final stretch of India-US trade talks is centred around sensitive sectors such as dairy, agriculture, digital and medical services, three people aware of the matter said, with Washington keen to open them up while New Delhi is pushing back with demand for a balanced agreement that safeguards vital sectors. A US team led by Brendan Lynch, Assistant US Trade Representative for South and Central Asia, was in New Delhi for the face-to-face bilateral talks from 4 June to 10 June. While half of the team has returned, the rest in New Delhi have sought definitive commitments on market access in sensitive areas, the people cited above said on the condition of anonymity. The talks will continue virtually to seal the deal. Also read | Mint Exclusive: India-US trade deal before 8 July India has traditionally resisted opening these areas due to concerns over unregulated competition and social sensitivities. Indian negotiators now navigate political and economic complexities related to sectors vital to rural livelihoods and food security, amid the hardened US stance. 'The negotiations are not progressing as expected. The talks were meant to be two-way, as agreed. However, the US team's insistence on opening certain critical sectors comes across as a take-it-or-leave-it offer," said the first among the three people cited above. Queries emailed to the spokespersons of US Secretary of Commerce, USTR and US Embassy in New Delhi, along with spokespersons of ministries of commerce and external affairs remained unanswered. Two-way road Mint reported on 21 April that Indian negotiators have made it clear that unless the US changes its animal feeding practices—specifically the use of non-vegetarian feed for cattle—or adopts India's vegetarian certification process, US dairy products such as cheese and butter won't be allowed in. At the same time, India has conveyed its willingness to consider tariff concessions on certain nuts and fruits. Tying up a Bilateral Trade Agreement (BTA) by 9 July is critical to stop the 10% universal tariff and the additional 16% country-specific US tariffs. According to the second person cited above, the Indian side views the US insistence as a breach of the 13 February joint statement issued by both leaderships to negotiate a mutually beneficial BTA by fall 2025. Also read | 'Talks are moving, things on track': India-US interim trade deal by June 25? The US wants India to significantly reduce duties on American agricultural goods, dairy products, and shrimp, as well as to remove non-tariff barriers that currently restrict US dairy exports, all without offering substantial market access to Indian goods in return, the officials cited above said. India still sees hope, with about a month remaining before the 90-day pause on Trump's reciprocal tariff ends on 8 July, to finalize the first tranche of the deal. 'It's not that it can't be done—it's possible, as both countries are in favour of it. In fact, India was the first country to be offered a trade agreement. We are trying our best to make it happen and keep the trade dialogue on track," said the third person. However, this person denied that changing geopolitical situations were affecting the ongoing BTA talks, citing recent developments where the US successfully concluded trade agreements with the UK and China as evidence. For an open market A Niti Aayog working paper last month suggested that India open its market to a broad range of US agricultural products, including rice, pepper, soybean oil, shrimp, tea, coffee, dairy and poultry under the BTA. However, these recommendations ignore risks to India's 700 million farm-dependent citizens, according to the Global Trade Research Initiative (GTRI), a thinktank. Co-founder Ajay Srivastava has called for a broader public consultation on these recommendations. Meanwhile, Indian negotiators have raised concerns over stringent US sanitary and phytosanitary norms, drug regulations, and provisions such as the destruction of entire consignments of fruits if even a few units fail to meet prescribed standards. These are viewed as excessively harsh and trade-restrictive. Also read | India-US trade deal announcement soon: Scott Bessent At present, India imposes a basic customs duty of ₹35 per kg on shelled almonds, ₹100 per kg on in-shell almonds, along with a 10% Agriculture Infrastructure Development Cess. Walnuts—both in-shell and shelled—attract a 100% duty when imported from the US, while pistachios face a 10% duty calculated on the cost, insurance, and freight (CIF) value. 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Scott Bessent also a contender to succeed Fed Chief Powell
Scott Bessent also a contender to succeed Fed Chief Powell

Economic Times

time35 minutes ago

  • Economic Times

Scott Bessent also a contender to succeed Fed Chief Powell

Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel New York: A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Donald Trump said Friday he would name a successor "very soon" to replace Jerome Powell , whose term as Fed chair ends in May 2026. The small list of candidates under consideration has included Kevin Warsh, a former Fed official whom Trump interviewed for the Treasury secretary role in November, according to people familiar with the Bessent - who is leading Trump's effort to kickstart the US economy with sweeping changes to trade, taxes and regulation - is also now one of the contenders for the job, said the people, who requested anonymity to discuss private conversations. Formal interviews for the position have not begun, two of the people said."I have the best job in Washington," Bessent said in response to a request for comment. "The president will decide who's best for the economy and the American people."As Treasury chief, Bessent would traditionally play a key role in the search and interview process for the next Fed chair. It's unclear if he would recuse himself as Trump begins to make his decision."Given the amount of trust and confidence that the global financial community has in Scott Bessent, he's an obvious candidate," said Tim Adams, president and CEO of the Institute of International Finance. "He's a dark horse candidate," Adams said, adding that Warsh - who served as a governor on the Fed board from 2006 to 2011 - would also be a good specifically about Warsh on Friday, Trump said: "He's very highly thought of."Bessent has been at the forefront of negotiations on a US-China trade deal, arguably the most important of the pacts the president is seeking to forge as part of his effort to reshape the global trade landscape. "Scott Bessent proved he could implement President Trump's agenda during an incredibly turbulent first six months," said Steve Bannon, former chief White House strategist and outside adviser to the president.

Scott Bessent also a contender to succeed Fed Chief Powell
Scott Bessent also a contender to succeed Fed Chief Powell

Time of India

time36 minutes ago

  • Time of India

Scott Bessent also a contender to succeed Fed Chief Powell

New York: A growing chorus of advisers inside and outside the Trump administration are pushing another name to serve as the next chair of the Federal Reserve: Treasury Secretary Scott Bessent. President Donald Trump said Friday he would name a successor "very soon" to replace Jerome Powell , whose term as Fed chair ends in May 2026. The small list of candidates under consideration has included Kevin Warsh, a former Fed official whom Trump interviewed for the Treasury secretary role in November, according to people familiar with the matter. But Bessent - who is leading Trump's effort to kickstart the US economy with sweeping changes to trade, taxes and regulation - is also now one of the contenders for the job, said the people, who requested anonymity to discuss private conversations. Formal interviews for the position have not begun, two of the people said. "I have the best job in Washington," Bessent said in response to a request for comment. "The president will decide who's best for the economy and the American people." As Treasury chief, Bessent would traditionally play a key role in the search and interview process for the next Fed chair. It's unclear if he would recuse himself as Trump begins to make his decision. Live Events "Given the amount of trust and confidence that the global financial community has in Scott Bessent, he's an obvious candidate," said Tim Adams, president and CEO of the Institute of International Finance. "He's a dark horse candidate," Adams said, adding that Warsh - who served as a governor on the Fed board from 2006 to 2011 - would also be a good choice. Asked specifically about Warsh on Friday, Trump said: "He's very highly thought of." Bessent has been at the forefront of negotiations on a US-China trade deal, arguably the most important of the pacts the president is seeking to forge as part of his effort to reshape the global trade landscape. "Scott Bessent proved he could implement President Trump's agenda during an incredibly turbulent first six months," said Steve Bannon, former chief White House strategist and outside adviser to the president.

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