Latest news with #Middleeastern
Indian Express
5 days ago
- Business
- Indian Express
As Russian oil discount narrows, economists think India can afford import diversification
With US President Donald Trump doubling the tariff on Indian goods to 50 per cent, economists think India can afford to reduce its purchase of Russian oil due to the narrowing of the discount on offer and diversify its sourcing. From around 2 per cent prior to the invasion of Ukraine in February 2022, the share of Russian oil in India's oil imports has increased sharply to 35-40 per cent, with Indian refiners lapping up discounted Russian oil that was shunned by developed nations. However, the tariff war instigated by Donald Trump – initially with a focus on addressing the US' trade deficit with other nations – has seen the imposition of so-called secondary tariffs on India for its purchase of Russian energy and defence equipment. On July 30, Trump threatened a 25 per cent on India and an additional unspecified 'penalty' for its Russian trade. On Wednesday, the penalty was revealed to be a further 25 per cent tariff on Indian goods that will come into effect on August 27. According to Barclays economists led by Aastha Gudwani, the purchase of discounted Russian oil helped lower India's oil import bill by around $7 billion-10 billion in 2024 to $186 billion. 'As of now, the discount on oil imports from Russia having narrowed to around $3-8/barrel lower than Middle eastern grade. Media reports suggest that Indian refiners would be pushed to pivot towards traditional West Asian suppliers and new players such as Brazil to make up for lost Russian supplies, with price increases around $4-5/barrel. With global oil prices in 2025 so far settling around $9/barrel lower than 2024, such a diversification of oil supply sources is unlikely to hurt India's oil import bill,' they added. Meanwhile, Nomura economists Sonal Varma and Aurodeep Nandi estimate the implied discount on Russian crude oil for Indian refiners declined to around $2.2 per barrel in 2024-25 from over $12 per barrel in 2022-23. As such, if India chooses to reduce its purchase of Russian oil, India's annual import bill may only rise by around $1.5 billion, they calculated. Morgan Stanley economists were in agreement, estimating that the discount India got on Russian crude oil in 2024-25 was only $2-3 per barrel. To be sure, Indian refining companies began cutting their purchase of Russian oil even prior to Trump's threat of a 'penalty'. In July, India's crude imports from Russia averaged 1.6 million barrels per day, as per data from Kpler, a global trade data and analytics firm, down 24 per cent from June. However, a move by India to procure more oil from countries other than Russia could push up prices globally, which would raise the import bill. While difficult to estimate, Nomura economists think that given India imported 1.8 billion barrels of oil in 2024-25, India's annual import bill could rise by around $1.8 billion for every $1 increase in global crude prices. 'Domestically, the government will likely keep pump prices constant, which means there is likely to be minimal inflation and growth impact from any shift in oil procurement. This also means that the ultimate cost of any transition will most likely have to be borne by public sector oil marketing companies, and eventually by the government if it needs to compensate them for these under-recoveries at a later stage,' Nomura said, adding that it did not see a 'major upside risk' to the Indian government's fiscal deficit target of 4.4 per cent of GDP for the current fiscal. Meanwhile, reduced demand for Russian oil from Indian refiners, especially state-run ones, is already beginning to reflect in prices, with Homayoun Falakshahi, head of crude oil analysis at Kpler, pointing out on Wednesday that private refiners were 'still scooping barrels, but at a lower pace. Four Aframaxes are currently waiting to discharge at Jamnagar and Vadinar'. An aframax is a type of oil tanker. According to Falakshahi, India's negotiations with the US could lead to New Delhi agreeing to raise its oil and gas purchases. The energy trade between the two countries is worth around $7.5 billion a year. 'This has already started to be the case, with the country's imports of US crude on the rise lately to an average of 225 kbd (thousand barrels per day) since May, nearly twice as much the levels from early 2025. Indian refiners could realistically increase their intake of US crude by another 100 kbd to previous highs of ~300 kbd in 2021,' Falakshahi said. However, he added he was sceptical that India will be able to completely stop the import of Russian oil. Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
SBS Australia
29-04-2025
- Entertainment
- SBS Australia
Meet the chef who created the viral Dubai chocolate
His humble, unassuming demeanour wouldn't give away the fact that he's responsible for millions of dessert dreams. But Dubai-based chef Nouel Catis exudes a quiet confidence that is telling. Catis, who works as a culinary consultant after decades as a chef in five star hotels and restaurants around the world – including at the Burj al Arab, often considered the pinnacle of hospitality – is the pro who was tasked with coming up with a 'chocolate that is also a dessert' back in 2023, by the founder of Dubai-based dessert atelier, Fix Chocolate . Speaking about his inspiration behind the Dubai chocolate bar, Catis tells SBS, 'As a chef, my role is to come up with a plan, a thought process, formulate a recipe where you put things together based on what people believe could be interesting, and make it a solid idea. 'Out of all the ideas we were discussing, I picked these ingredients because I'm all about the UAE or Middle Eastern heritage being captured as a chocolate or as a dessert, that's my USP. Of course, the chocolate went through a lot of changes since it was conceptualised, and lots of innovations to become what it is right now.' The creation shot to instant fame thanks to some social media magic – it was unashamedly created for Instagram, with its vivid visual appeal – first locally, then globally. And the craze doesn't show any sign of letting up, even fuelling a global pistachio shortage! According to the , prices have surged from $7.65 to $10.30 a pound in one year. Having prompted a series of 'dupes' around the world – including here in Australia and, reportedly, biggies like Lindt jumping on the trend, it appears everyone wants the unlikely taste of chocolate with pistachio paste, tahini, and the pastry crunch of Middle eastern dessert knafeh through it, no matter what the cost. Explaining that the creation is an ode to the flavours of the region, Catis says, 'I decided to put these flavours together inspired by the idea of nostalgia. It's not a common thing to use in desserts, but I noticed that in Lebanon, people enjoy eating dates and tahini together. The flavours resonated with me personally too. I've been living in the UAE for 16 years, and I enjoy Middle Eastern desserts – especially kunefeh. That's what triggered the thought process of creating something unique.' Catis has since parted ways with the Fix chocolate – who only sell their chocolate through Instagram at fixed times during the day via delivery app Deliveroo, the 'hard to get' strategy adding to the chocolate's allure. In the meantime, he has opened his own boutique chocolatier, Sna'ap, offering something similar - but taking things to the next level, with a focus on pure, premium ingredients. Named after the sound the chocolate is supposed to make when cracking a bar open, he sells them via Instagram and out of a pop-up chocolate bar on a popular waterfront promenade in Dubai. 'Blending the flavours of the Middle East, with say, the European or Western, and making it relatable to this community, that has always been at the forefront of our creations,' he says. 'My focus is all about showcasing the flavours of the UAE to the world, that has always been my reason for doing this. Not only Emirati flavours, but other flavours too – because we have so many different cultures here in Dubai… we have Indian, Filipino, French, British, so many… 'But our point of difference at Sna'ap is keeping things as pure as possible. You don't want a chocolate with a lot of mystery ingredients in it!' To that end, he has continued to innovate with flavours like strawberry fields (white chocolate infused with freeze dried strawberry), Kadak chai (cardamom flavoured), salted caramel camel chocolate and to mark Ramadan in 2025, ube baklava – a true expression of Dubai's multiculturalism. 'Sna'ap is all about being creative, and also respecting heritage,' he continues. 'But I want this to be more than just a viral chocolate. It has to be something that you crave for every day. You can buy it anytime and you enjoy it as a snack basically. It's a new nostalgia.' Wondering where to buy Dubai chocolate in Australia? Unfortunately, the OG can only be purchased in Dubai, but you can find multiple local versions in stores around Melbourne and Sydney, and online. Jason Atherton's Dubai Dishes Watch now Share this with family and friends
Zawya
11-03-2025
- Zawya
IHG Hotels & Resorts adds to Abu Dhabi portfolio, introducing Aldhafra Resort, Vignette Collection
ABU DHABI, UAE: IHG Hotels & Resorts is proud to announce the opening of its first Vignette Collection in Abu Dhabi – Aldhafra Resort, Vignette Collection. Situated in Liwa's Madinat Zayed City, Aldhafra Resort stands at the Western edge of the largest sand desert in the world, the Rub Al Khali or Empty Quarter. Aldhafra Resort, Vignette Collection offers a majestic retreat of Arabian charm and adventure, embraced by the unspoiled beauty of rolling sand dunes. Middle eastern embellishments and examples of local craftmanship feature in the design of its 92 deluxe rooms, 13 executive suites and five private plunge pool villas, each with outlooks across the enchanting desert landscape. A central courtyard frames the resort's outdoor infinity pool, whilst away from the sun's rays, the hotel spa* creates a space of calm. Here guests can experience eastern-inspired massages, revitalizing scrubs, facials, and aromatic steam sessions. A fully equipped fitness centre* will be available for energetic and endorphin seeking guests. An array of additional activities take full advantage of Aldhafra Resort's location in the largest sand desert in the world, Rub Al Khali, from camel trekking through the dunes by day to spectating the sun setting beyond the sands by night. More relaxed recreations are also available such as billiards, foosball, table tennis, and chess. Aldhafra Resort's trio of distinct dining venues take guests on a gastronomic journey through authentic Arabian cuisine. Eateries include signature restaurant, Al Badiya and the sumptuous speak-easy style Layali Bar, evoking the warmth and mystery of a bygone here. Here, creative cocktails combine with a comprehensive cigar collection as traditional Arabic spices, herbs, and botanicals merge with the charm of the Prohibition. Immersive desert-facing dinners featuring live performances are set to prove popular amongst guests. Haitham Khalil, General Manager, Aldhafra Resort, Vignette Collection said: 'We are delighted to have opened the Aldhafra Resort, Vignette Collection as IHG expands its collection presence into the thriving UAE capital of Abu Dhabi. This is a city that boasts a rich heritage with the Rub Al Khali desert. Our destination is infused throughout every touchpoint of the guest experience – from the scenery that surrounds us, to the design details within our places and spaces, through to the menus we serve and the experiences we foster. Every moment here is designed to create unforgettable memories. Our warm and dedicated team is at hand for every detail to allow guests to focus on the moments that truly matter.' Demonstrating diversity and discovery, Vignette Collection is a family of distinct luxury hotels connected by a shared vision to offer a more authentic travel experience. Aldhafra Resort joins the brand's fast-growing family of one-of-a-kind hotels found in destinations to remember. Just three years after the brand's introduction, Vignette Collection has surpassed the halfway point in its initial aim to reach 100 open and pipeline hotels in 10 years. The collection – now encompassing 20 hotels with a further 35 in the pipeline – combines each property's individual identity with the brand's promise of 'A Means For Good' and Memorable Rituals. Memorable Rituals – bespoke to each Vignette Collection property – connect guests with the hotel's unique identity, locality, and cultural landscape. A symbolic act of generosity, the preparation and serving of Arabic coffee (pronounced 'gahwa' in the Emirati Arabic dialect) to guests has been an intrinsic part of Arabian hospitality for centuries. Aldhafra Resort, Vignette Collection continues this symbolic social act by welcoming guests with a complimentary serving of Arabic coffee, served upon serene majlis-style seating, plush cushions, and traditional woven rugs. Coffee is paired with sweet, locally harvested Liwa dates, also a deep-rooted symbol of hospitality, generosity, life, resilience, and prosperity within Arabic culture. A Means For Good initiatives weaved throughout all Vignette Collection properties represent each hotel's commitment to responsibility, community engagement, and local culture. With a commitment to tailoring initiatives to suit the unique character of each hotel, they partner with non-profit organizations to contribute positively to the local ecosystem. Aldhafra Resort, Vignette Collection marks this commitment through its partnership with the Liwa Date Festival, an event that showcases the latest agricultural practices to foster expertise exchange between growers, suppliers, and buyers. Its main event is the competition for the 'Best Date Fruit' where local farms compete for the title of 'Best Date Grower'. Aldhafra Resort is the second Vignette Collection hotel in the UAE after Th8 Palm Dubai Beach Resort Vignette Collection and the third in the Middle East following the opening of Arabella Beach Hotel Kuwait, Vignette Collection last year. As a special opening offer, guests of Aldhafra Resort can book a stay with breakfast and enjoy a complimentary lunch or dinner at the resort's restaurants. This exclusive offer is available for stays from 10th March 2025 to 30th September 2025. To make a reservation or for more information, guests can contact reservation@ or call +971 2 65 62 512. Vignette Collection appeals to owners of world-class independent luxury and lifestyle hotels seeking to quickly benefit from IHG's powerful technology and revenue systems, operational expertise, and loyalty offer, without the need for high upfront costs or compromise on a property's unique character, style, or name. For Luxury & Lifestyle travelers, it meets an increasing appetite for one-of-a-kind stays, backed by the reassurance of IHG's trusted reputation and leading loyalty offer. Guests of Aldhafra Resort and the wider Vignette Collection and IHG portfolio benefit from best-in-class loyalty program, IHG One Rewards, offering more ways to earn than ever before, including richer benefits tailored to their needs, all powered by leading technology on its mobile app. For more information and to book visit
The Independent
06-03-2025
- General
- The Independent
UK food charity chef tells of Ramadan challenge for refugees in Calais
A chef who is helping to feed hundreds of displaced people in Calais is adapting his menu to support refugees observing Ramadan. Ben Cottam, from Exeter in south-west England, has been based in northern France for the last eight months cooking for Refugee Community Kitchen. The charity, which was set up by four friends in 2015, has been serving 'nutritious food without judgment' to those fleeing war, poverty, persecution and climate change for a decade. The food organisation, which operates both in London and northern France, distributes hundreds of meals a week and has won a number of prestigious awards, including the Observer Food Monthly's outstanding achievement award. Mr Cottam, 36, whose career has varied from working at private members' clubs to running his own catering company, took a break from London's food scene to head up the kitchen in Calais. 'Part of the reason I kind of quit my last job and needed a break was because every job I'd had in London kind of came with this sense of doom and fear and pressure and stress that was unavoidable with that kind of work,' Mr Cottam told the PA news agency. 'Living with that kind of feeling is what kind of breaks me in the end. I can't do it forever. 'Here there's none of that stuff I would consider the negative side of working in kitchens.' Mr Cottam, who runs a team of up to 20 volunteers, is responsible for preparing 700 to 800 meals daily for displaced people sleeping rough in and around Calais and Dunkirk. 'It's a pretty slick kind of operation,' he said. 'Its been nearly 10 years now, so they've kind of got it down to a fine art.' The daily menu consists of a main dish, which is usually a type of curry or chorba, a Middle eastern soup, rice or pasta, salad and an array of condiments. In Calais there are usually two services per day, one at lunchtime and the other in the evening. Mr Cottam said he is starting to adapt his menu to support community members observing Ramadan, by preparing food that can be stored for later consumption. Refugee Community Kitchen is also fundraising to provide a special Eid meal to celebrate the end of Ramadan. Many Muslims will spend a period of 30 days abstaining from food and drink – including water – during daylight hours, as a means of celebrating and reflecting on their faith. After sunset, the fast-breaking meal iftar is taken. 'I've got a kind of wild idea about making fresh pita bread that we'll either bake really early in the morning or late at night. And then we'll fill them with falafel and salad,' he said. 'We'll take some that we'll wrap and people can take away and also fried things like bhajis and pakoras, stuff that is going to be nice to eat later on. 'Most people don't have access to fires or any way of reheating food later on.' Mr Cottam added that a lot of thought goes into the nutritional side of things to help support gut health. 'If you're living like people out here are living and have been living for a long time, you often, your immune system is going to be quite weak,' he said. Calais has been a transit point for refugees and migrants for decades. People live in poor conditions, including makeshift camps, and are at risk of police brutality and regular evictions. 'There's very much still a humanitarian crisis going on not very far from London,' said Mr Cottam. 'It's important for people to know about what's happening in Calais and the brutality of the police here.' A total of 36,816 people crossed the English Channel in 2024, which was an increase of 25% from the 29,437 who did so in 2023, according to the Home Office – but down by 20% on the record 45,774 arrivals in 2022.
Yahoo
06-03-2025
- General
- Yahoo
UK food charity chef tells of Ramadan challenge for refugees in Calais
A chef who is helping to feed hundreds of displaced people in Calais is adapting his menu to support refugees observing Ramadan. Ben Cottam, from Exeter in south-west England, has been based in northern France for the last eight months cooking for Refugee Community Kitchen. The charity, which was set up by four friends in 2015, has been serving 'nutritious food without judgment' to those fleeing war, poverty, persecution and climate change for a decade. The food organisation, which operates both in London and northern France, distributes hundreds of meals a week and has won a number of prestigious awards, including the Observer Food Monthly's outstanding achievement award. Mr Cottam, 36, whose career has varied from working at private members' clubs to running his own catering company, took a break from London's food scene to head up the kitchen in Calais. 'Part of the reason I kind of quit my last job and needed a break was because every job I'd had in London kind of came with this sense of doom and fear and pressure and stress that was unavoidable with that kind of work,' Mr Cottam told the PA news agency. 'Living with that kind of feeling is what kind of breaks me in the end. I can't do it forever. 'Here there's none of that stuff I would consider the negative side of working in kitchens.' Mr Cottam, who runs a team of up to 20 volunteers, is responsible for preparing 700 to 800 meals daily for displaced people sleeping rough in and around Calais and Dunkirk. 'It's a pretty slick kind of operation,' he said. 'Its been nearly 10 years now, so they've kind of got it down to a fine art.' The daily menu consists of a main dish, which is usually a type of curry or chorba, a Middle eastern soup, rice or pasta, salad and an array of condiments. In Calais there are usually two services per day, one at lunchtime and the other in the evening. Mr Cottam said he is starting to adapt his menu to support community members observing Ramadan, by preparing food that can be stored for later consumption. Refugee Community Kitchen is also fundraising to provide a special Eid meal to celebrate the end of Ramadan. Many Muslims will spend a period of 30 days abstaining from food and drink – including water – during daylight hours, as a means of celebrating and reflecting on their faith. After sunset, the fast-breaking meal iftar is taken. 'I've got a kind of wild idea about making fresh pita bread that we'll either bake really early in the morning or late at night. And then we'll fill them with falafel and salad,' he said. 'We'll take some that we'll wrap and people can take away and also fried things like bhajis and pakoras, stuff that is going to be nice to eat later on. 'Most people don't have access to fires or any way of reheating food later on.' Mr Cottam added that a lot of thought goes into the nutritional side of things to help support gut health. 'If you're living like people out here are living and have been living for a long time, you often, your immune system is going to be quite weak,' he said. Calais has been a transit point for refugees and migrants for decades. People live in poor conditions, including makeshift camps, and are at risk of police brutality and regular evictions. 'There's very much still a humanitarian crisis going on not very far from London,' said Mr Cottam. 'It's important for people to know about what's happening in Calais and the brutality of the police here.' A total of 36,816 people crossed the English Channel in 2024, which was an increase of 25% from the 29,437 who did so in 2023, according to the Home Office – but down by 20% on the record 45,774 arrivals in 2022. To learn more about Refugee Community Kitchen's work in Calais you can visit its fundraising page:
