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Business Recorder
20-05-2025
- Business
- Business Recorder
Oil steadies as market assesses US-Iran talks, demand signals
LONDON: Oil prices steadied on Tuesday due to uncertainty in U.S.-Iran negotiations and Russia-Ukraine peace talks, while new government data delivered a cautious outlook for top crude-importer China's economy. Brent futures for July slipped 7 cents, or 0.1%, to $64.75 a barrel by 0947 GMT. June U.S. West Texas Intermediate crude futures, which expire on Tuesday were flat at $64.8, while the more active July contract was down 5 cents, or around 0.1%, at $62.1 a barrel. Iran's Supreme Leader Ayatollah Ali Khamenei voiced doubts over whether nuclear talks with the U.S. will lead to an agreement, Mehr News reported, as Tehran reviews a proposal to hold a fifth round of negotiations. Oil steadies as US, China growth concerns weigh A deal between the two countries would allow Iran to raise oil exports by 300,000 barrels to 400,000 barrels per day if sanctions were eased, StoneX analyst Alex Hodes said. Prices were capped by U.S. President Donald Trump indicating that he was not ready to join Europe with fresh sanctions to pressure Moscow, while President Vladimir Putin and Ukraine would immediately start negotiations for a ceasefire. 'An immediate resolution of the Russia/Ukraine war does however look unlikely. So while it could lead to more oil from Russia into the market, it is out in time and uncertain as Russia is still bound by its obligation to OPEC+,' chief commodities analyst Bjarne Schieldrop said. Piling more pressure on oil prices was data showing decelerating industrial output growth and retail sales in China, the world's top oil importer, with analysts expecting a slowdown in fuel demand. However, the analysis did not reflect a 90-day pause on tariffs between the U.S. and China, with Goldman Sachs pointing to a pickup in China trade flows late on Monday. Beyond macroeconomics, geopolitics and the current headline-trading environment, it is hard to ascertain when 'the mood would take a handbrake turn,' analyst Tamas Varga wrote to clients.
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Business Standard
05-05-2025
- Politics
- Business Standard
Iran urges India, Pakistan to 'exercise restraint' amid soaring tensions
Iranian Foreign Minister Abbas Araghchi on Monday asked India and Pakistan to "exercise restraint" and prevent an escalation, ahead of his talks with the Pakistani leadership as tensions soared between the two countries after the Pahalgam terror attack. At the talks, Tehran and Islamabad agreed that complex regional issues could be addressed through talks, a Pakistani Foreign Office statement said. "The situation in the region is very important for Iran, and we emphasise (on the importance of) easing tensions while calling on all parties to exercise restraint and prevent the escalation of the situation," Araghchi said upon his arrival here, Iranian state-run PressTV reported. Tensions between India and Pakistan soared after terrorists killed 26 people, mostly tourists, in Jammu and Kashmir's Pahalgam on April 22. We will try to de-escalate tensions in the region, said Araghchi, who paid a day-long visit to Pakistan. He will travel to India on Thursday. "Both India and Pakistan are friendly countries to the Islamic Republic of Iran. Of course, Pakistan is our neighbouring and brotherly country, and we were interested in being informed of the positions of our friends in Pakistan before travelling to India," Araghchi told Iranian journalists accompanying his delegation, Iran's semi-autonomous Mehr News reported. Pakistan's Foreign Office said in a statement that Araghchi and Dar reaffirmed their commitment to strong Pakistan-Iran ties and agreed to boost cooperation in trade, energy and connectivity. They also exchanged views on the evolving situation in South Asia and US-Iran talks while agreeing that complex issues could be resolved through diplomacy and negotiations, the Foreign Office said. Dar told media after the talks that Pakistan stood by its offer to support an independent probe into the Pahalgam attack, adding that Pakistan would not be the first to launch any attack against India. But we will respond resolutely and with full force to any act to any misadventure by India, he said. Radio Pakistan reported that during the meeting, Dar shared Pakistan's "serious concerns" over the prevailing tensions in South Asia, blaming India's "provocative behaviour" for it. He rejected "unsubstantiated attempts" to implicate Pakistan in the incident, reiterating Islamabad's call for an "international, transparent, and impartial" investigation. Separately, the Iranian Foreign Minister called on Prime Minister Shehbaz Sharif and discussed the regional situation as well as matters of bilateral interest. Pakistan and Iran enjoy close bilateral relations rooted in shared history, culture, and religion. The visit of Foreign Minister Araghchi is expected to further strengthen the existing ties and enhance cooperation between the two countries.
Saudi Gazette
05-05-2025
- Politics
- Saudi Gazette
Failure to intercept Houthi missile exposes Israel's vulnerabilities and limits of US campaign
JERUSALEM — A failed interception of a missile fired from Yemen forced Israel to briefly shut down its main international airport on Sunday, exposing the country's vulnerabilities and the Houthi rebels' continued ability to strike distant targets despite a sustained US military campaign. Flights were halted at Ben Gurion Airport near Tel Aviv for about 30 minutes on Sunday morning after a missile landed in the airport's vicinity, following what the Israeli military said were 'several attempts' at interception. 'The results of the interception are under review,' the Israel Defense Forces (IDF) said. The military fired its long-range Arrow interceptor at the incoming missile, an IDF spokesperson said. The US also has an advanced THAAD anti-missile system deployed in Israel. The Houthi rebel group in Yemen claimed responsibility for the attack, saying it was carried out 'in rejection of (Israel's) crime of genocide' against the people of Gaza. The group later warned it could strike again and would 'impose a comprehensive air blockade' on Israel by 'repeatedly targeting airports,' especially Ben Gurion. It called on international airlines to plan accordingly and cancel all scheduled flights to Israeli airports. The strike appears to be the first time Israel's international airport has been successfully targeted by the group. 'The American and Israeli defense systems failed to intercept the missile aimed at Ben Gurion Airport,' Yahya Saree, the group's spokesperson, said in a statement, adding that the airport was targeted with a 'hypersonic ballistic missile.' Israeli Prime Minister Benjamin Netanyahu vowed further attacks against the Houthis. 'We acted before, we will act in the future too. I can't elaborate all of that. The US, in coordination with us, is also operating against them. It's not 'one and done' — but there will be hits,' he said in a video address posted on social media. In a post to X later, he also promised a response to Iran: 'Israel will respond to the Houthi attack against our main airport AND, at a time and place of our choosing, to their Iranian terror masters.' Defense Minister Israel Katz warned that the response would be 'sevenfold.' Iran's defense minister Aziz Nasirzadeh said Iran would respond to any attack on it. State-affiliated Mehr News quoted him as saying, 'if we are attacked or a war is imposed on us, we will respond with might.' 'We will attack their interests and their bases, and we will not be reluctant and will not see any limits in this regard,' Nasirzadeh told Iranian TV, according to Mehr. 'We are not enemies of our neighboring countries, and they are our brothers, but American bases on their soil will be our targets.' Israel's security cabinet convened on Sunday afternoon to discuss the incident, according to an Israeli official. The incident marks a major security breach at one of the most heavily protected sites in the country, and is likely to raise questions about Israel's ability to intercept such attacks despite its vaunted missile defense system. An initial IDF inquiry found no malfunction with any systems or procedures, but a 'technical issue' with the interceptor itself, that was launched toward the Houthi missile, the military said. Trains to and from the airport were also halted and police asked the public to refrain from arriving in the area. Pictures from the scene showed debris from the impact of the missile on the grounds of the airport, littering the road toward the main terminal. A video shared on social media appeared to show the impact of the missile at the airport and a cloud of black smoke rising from the strike. Lufthansa, Swiss, Austrian Airlines, Brussels Airlines, and Eurowings suspend flights to and from Tel Aviv until after Tuesday, May 6, a Lufthansa Group spokesperson told CNN. Amir Bar Shalom, the military affairs analyst for Israel's Army Radio, said the missile showed both tremendous accuracy and the ability to penetrate Israel's air defenses. 'They were very accurate, and to be very accurate if you're launching from 2,000 kilometers, it's impressive,' Bar Shalom told CNN. 'And you have to take this threat seriously. We have to check whether it's our mistake or whether we have a new kind of threat here.' Iran is developing long-range missiles capable of maneuvering to evade air defenses, Bar Shalom said, though it remains unclear whether such advanced technology has been transferred to the Houthis. He added that the military will analyze all of the aspects of the failed interception attempts, including when sensors detected the incoming projectile, which systems identified it, and how close interceptors came to the missile. 'There are so many parameters that may be relevant to the result that have to be analyzed,' he said. Hamas praised the attack, calling Yemen 'the twin of Palestine, as it continues to defy the most brutal forces of oppression, refusing submission or defeat despite the aggression it faces.' Sunday's strike marks the third consecutive day of missile launches from Yemen toward Israel, according to the IDF. Since Israel's war with Hamas in Gaza started in October 2023, the country has come under fire from missiles and rockets from Hezbollah in Lebanon and the Houthis in Yemen, who claim to strike Israel in solidarity with the Palestinians. Almost all of the projectiles have been intercepted by Israel's air defenses. But in December, a Houthi missile hit Israel's commercial capital Tel Aviv after a failed interception, leading to more than a dozen injuries. The Houthis said they fired a hypersonic ballistic missile labeled 'Palestine 2' at an Israeli military target in the Jaffa area. And in July, the Houthis claimed responsibility for a deadly drone attack in Tel Aviv – the first such strike on the city by the group. Israel has launched several strikes against the Houthis in Yemen, including the targeting of a power plant and maritime ports in January. But the US military has carried out far more extensive strikes on targets in Yemen in recent weeks, aiming to weaken the group, whose attacks on Red Sea shipping have significantly disrupted global trade. The campaign is also aimed at stopping launches targeting Israel, as well as commercial and US Navy vessels operating in the Middle East. Early last month, the cost of US the effort had approached $1 billion in just three weeks, including the deployment of B-2 stealth bombers and the use of hundreds of millions of dollars' worth of high-end munitions. But it has largely failed to disrupt the Houthis' ability to launch ballistic missiles against Israel. The country's vaunted missile defense system routinely intercepts the launches, but some have gotten through. — CNN
Shafaq News
24-04-2025
- Health
- Shafaq News
Wild Gundelia crisis: Kurdish Ilam's beloved plant faces extinction
Shafaq News/ In the mountainous heart of southwestern Iran, where the Kurdish region of Ilam blends rugged terrain with centuries-old food traditions, a prized wild herb is vanishing. The Gundelia Tournefortii—locally known as Kaaoub or Kangar—is on the edge of extinction after years of unregulated harvesting and rising demand. With its thick stems and thorny exterior, the plant has been a staple of Kurdish village kitchens for generations. 'Kaaoub isn't just food—it's part of Ilam's identity,' Younes Mohammadi, a local agricultural expert, told Mehr News Agency. 'Rich in nutrients and revered in traditional medicine, this plant has been used to ease digestive ailments, cleanse kidneys, and even fight cancer cells.' Yet, despite its medicinal and cultural value, the Gundelia is under siege. Overharvesting during its short spring season, excessive grazing, and shrinking habitats have put immense pressure on the plant. Experts say poor management, lack of protection, and the absence of sustainable policies have turned a once-abundant natural asset into a warning sign of environmental mismanagement. Ali Farzinejad, head of Ilam's Medicinal Plants Center, said the growing popularity of the plant has drawn not only locals but also visitors from neighboring provinces who flock to the hills each spring to collect it. 'The issue? Most harvest the plant before it produces seeds, breaking its natural reproductive cycle,' he expressed to Mehr News, warning, 'If Kaaoub disappears, we don't just lose biodiversity. We lose a local economy, an eco-tourism attraction, and vital soil stability.' As alarm grows, so do calls for action. Mohammadi believes a mix of public awareness, regulated harvesting, and greenhouse cultivation could help reverse the trend. 'Talking about Kaaoub's extinction isn't just an environmental concern,' he noted. 'It's about preserving a way of life.' With pressure mounting, the effort to save Ilam's spiny treasure is no longer a task for government bodies alone. Experts insist that protecting this unique species is a shared responsibility—one that requires collective action from both locals and visitors.
