South-West Asia

Ursula von der Leyen, President of the European Commission, said that more pressure should be applied to Russia in order to secure a ceasefire. She urged G7 nations intensify sanctions to achieve this goal. The leaders of the largest industrial countries are meeting in Canada’s Rockies, along with European nations. They want to keep the conflict in Ukraine on the minds of U.S. president Donald Trump, despite the fighting between Israel and Iran taking place in the Middle East. The European Union has decided to adopt new sanctions against Russia. However, they have not been able to convince Trump, who...

Hong Kong's chief executive has said that the stock exchange will be attracting listed companies from Southeast Asia and Middle East for second listings, as it looks to improve its global reputation. Bonnie Chan, a spokesperson for Hong Kong Exchanges and Clearing Ltd. (HKEX), said that the number of mainland China listed companies seeking to list in Hong Kong in order to raise capital in order to fund their global expansions is also increasing. Chan, the first woman CEO of HKEX, said that they are now focusing on companies who have already been listed on other markets, but may have...

Yemen's Iran aligned Houthis announced on Sunday that they were targeting Israel in coordination and coordination with Iran. This is the first time a group with an Iran alignment has publicly announced a joint attack with Tehran. In a recent televised speech, Yehya Saarea, the military spokesperson said that the Yemeni group had targeted central Israel's Jaffa in the past 24 hours with a number of ballistic missiles. He added: "This operation was coordinated along with the Iranian army's operations against the criminal Israeli enemies." Earlier, the Israeli military said that sirens had been activated in various areas of the...

Israel launched strikes against Iran on Friday. It targeted its nuclear facilities, missile factories, and military commanders as part of a long-term operation, which it has warned will be prolonged, to stop Tehran from building atomic weapons. According to the National Iranian Oil Refining and Distribution Company, oil storage and refining plants were not damaged by the attack. Here are some interesting facts about the energy industry of the country, its exports, and the impact that previous Western sanctions had on it. SANCTIONS & OPEC According to OPEC, Iran's oil output peaked in the 1970s. In 1974 it reached a...

Italiana Petroli is in negotiations with three parties interested in purchasing the oil refinery and is expected to make a decision around the end this month on the possible 3 billion euro deal ($3.5 billion). Two sources familiar with the matter confirmed that. Sources previously stated that Gunvor, the global commodity trader, State Oil Company of Azerbaijan, (SOCAR), and the Abu Dhabi-based Bin Butti Group had all made binding offers to purchase 100% of the privately held group. Two sources said that industrial groups from the Middle East had contacted the Italian company in order to express their interest, should...

The Omani Foreign Minister announced on Thursday that the sixth round of U.S. - Iran nuclear talks would be held in Muscat on Sunday, following Donald Trump's reiteration on Wednesday that Tehran will not be permitted to possess a nuclear device. Trump announced on Wednesday that U.S. personnel was being relocated from the Middle East, because it "could be a dangerous area". U.S. sources and Iraqi ones said that earlier, the U.S. prepared to evacuate its Iraqi Embassy and allow military dependents leave Middle East locations due to increased security risks. The four U.S. sources and two Iraqi ones did...

The Information reported Wednesday that OpenAI, the maker of ChatGPT, has spoken to Saudi Arabia's PIF and India's Reliance industries, as well as existing shareholders United Arab Emirates' MGX, about its 40 billion financing. According to the report, people who are familiar with the fund-raising said that the investors could each invest at least hundreds millions of dollars. SoftBank, OpenAI's main financier, is seeking to raise additional funds for its ambitious Stargate infrastructure plan and model development. Two sources familiar with the matter said that OpenAI CEO Sam Altman had met earlier this year with India's Minister of IT and...

The major stock markets in the Gulf rose early on Wednesday, in line with Asian stocks. This was due to signs of progress between the U.S. Both countries' top officials said that they had reached an agreement on a framework for resuming their trade truce and removing China's export restriction on rare earths. The broadest MSCI index of Asia-Pacific stocks outside Japan increased by 0.5%. Saudi Arabia's benchmark stock index, which was traded after a break of four sessions, advanced by 1.2%. This was led by an increase of 1.7% in Al Rajhi Bank as well as a rise of...

Saudi Arabia's economy grew more than anticipated in the first quarter 2025, according government data estimates. Lower oil prices had a less significant impact on the economy than originally forecast. The Saudi General Authority for Statistics released a flash estimate of 2.7% in May. This was a significant improvement over the initial estimates. Monica Malik is the chief economist of Abu Dhabi Commercial Bank. She said that "the upward revision" was due to both a smaller contraction in the oil sector each year and a stronger growth in private sector. Initial estimates showed a contraction of 1.4%. The non-oil sector...

International Resources Holding, based in the UAE, has agreed to purchase a controlling interest in Alphamin Resources, a major tin producer in Africa. The deal is valued at C$503million ($367million), and comes as it expands its presence on the continent. IRH, a division of International Holding Co., has entered into an agreement with Tremont Master Holdings to purchase a 56% share in Alphamin for C$0.70 or approximately $367 million. The companies announced the deal in a joint press release. Alphamin's Bisie mine is located in eastern Democratic Republic of Congo, an area rich in tantalum and tungsten, as well as...

JPMorgan reported on Tuesday that Saudi Arabia will issue bonds worth $12.6 billion for the rest of the year. The kingdom is resorting to debt markets as it makes huge investments in order to revamp its economy and reduce oil prices. The Gulf nation, which is forecasting a budget gap of $26,93 billion for this year, seeks funds to invest into new industries, and wean itself off oil, under its Vision 2030 Plan, by investing in tourism, manufacturing, and technology. Reports in April indicated that Saudi Arabia faces increasing pressure to increase debt or reduce spending following a drop in...

A survey released on Tuesday showed that the expansion of Saudi Arabia's private non-oil sector activity accelerated in May. This was due to an increase in new orders and a boost in business confidence. The seasonally-adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index rose from 55.6 to 55.8 by May, firmly in the growth zone even though it is still below the peak level of 60.5 at the start of the year. In May, new order volumes recovered strongly from an eight-month low reached in April. This was due to a combination of increased demand, a strong sales performance and...

Here are some key passages of a four-page Iran resolution that the 35-nation Board of Governors of the International Atomic Energy Agency passed on Thursday, according to diplomats. The text was still classified and only seen by. The Board of Governors ,... (d) Referring to the Board of Governors resolutions of 19 juin 2020..., of 8 june 2022..., of 17 november 2022 ..., of 6 june 2024 ...,, and of 21 november 2024 ...,, which called on Iran to cooperate fully with the Agency, and decided it was essential and urgent for Iran to act in accordance with its legal...

The U.N. Nuclear Watchdog's Board of Governors, which consists of 35 nations, declared Iran in violation of its nonproliferation obligations for the first time since almost 20 years on Thursday. This could lead to a report being made to the U.N. Security Council. The major step represents the culmination of several simmering standoffs between Iran and the International Atomic Energy Agency that have arisen ever since President Donald Trump, during his first term in office, pulled the U.S. from a nuclear agreement between Tehran and other major powers. That deal then unraveled. Iran is likely to escalate its nuclear program,...

According to an interview that was broadcast on Monday, the chief of the International Atomic Energy Agency Rafael Grossi stated that Iranians warned him about a possible Israeli strike on Iran's nuclear facilities. This could lead Iran to become more determined to develop a nuclear weapon. Grossi stated in the interview published on the Jerusalem Post's website and broadcast on i24 TV on Sunday that a strike could have a compounding effect. It would solidify Iran's resolve - I say this plainly - either to pursue obtaining atomic weapons or to withdraw from the Treaty on the Non-Proliferation of Nuclear...

Rafael Grossi, the chief of the U.N. Nuclear Watchdog agency, said that Iran's purchase of secret documents from the watchdog is a "bad" step and goes against the spirit that should exist between Tehran and the agency. In a confidential report sent to its member states by the International Atomic Energy Agency on May 31, it said that "conclusive proof" had been provided by Iran of Iran's active collection and analysis of Agency documents. The report stated that this "raises grave concerns regarding Iran's collaboration spirit" and could undermine IAEA work in Iran. But Tehran, in a recent statement to...

Ayatollah Ayatollah Khamenei, Iran's supreme leader, said that Tehran would not abandon its uranium-enrichment program, and rejected a U.S. request aimed at ending a decades long nuclear dispute. He said the demand was against Iran's interests. The U.S. proposal to a new nuclear deal Oman, the Middle East envoy of President Donald Trump, Steve Witkoff, and Iranian Foreign Minister Abbas Araqchi, presented a letter to Iran on Sunday. Iran insists on maintaining its uranium-enrichment program on its own soil, and Tehran refuses to send its entire stockpile of highly-enriched uranium abroad - a possible raw material for nuclear weapons. Khamenei...

The shares of U.S. Solar companies dropped sharply after the House of Representatives passed President Donald Trump's tax and spending bill. This could end many green-energy subsides that supported the renewable energy industry. Sunrun shares fell nearly 41% early in the morning, followed by SolarEdge Technologies, Enphase Energy, and Complete Solaria. Maxeon Solar shares fell by 9%. Emeren Group shares dropped by 5.2%. JinkoSolar shares declined 4.7%. First Solar and Canadian Solar both saw their share prices drop 5.4% and 6.4%. Trump's budget plan, which he calls "one beautiful bill", would eliminate funding under the Biden Administration Inflation Reduction Act...

Alparslan Bayraktar, Turkish Energy Minister, said that Turkey has been in discussions with Candu Energy of Canada and other companies about plans to build Turkey's second and third nuclear plants. Bayraktar, who spoke to journalists during a trip to southeast Turkey Monday, said that Turkey wanted to "put names" on the projects it planned for this year. "Russia, South Korea, and China are all interested in the second or third power plant. He said that in addition to the countries and companies mentioned above, we were also in negotiations with other nations. Canada is one of them. "The Candu company,"...

Donald Trump, the U.S. president, said that on Thursday the United States is very close to reaching a nuclear agreement with Iran and that Tehran has "sort of" accepted the terms. Trump told AFP that he was in "very serious" negotiations with Iran to achieve long-term stability. Officials said that the latest round of talks between Iranians and Americans to resolve differences over Tehran's nucleus programme ended on Sunday in Oman. Further negotiations are planned. Tehran and Washington both say they prefer diplomacy in resolving the decades-long dispute over nuclear weapons. However, they are deeply divided about several redlines that...

Saudi Arabia and the United States are discussing a deal to cooperate on the kingdom's ambitions to develop a civil nuclear industry, talks that have long been complicated by regional politics and concerns over weapons proliferation. Here are some of the main issues at play: WHY DOES SAUDI ARABIA WANT A NUCLEAR PROGRAMME? As the world's largest oil exporter Saudi Arabia may not seem an obvious candidate for nuclear power, but it aims to reduce carbon emissions and free up crude for export under Crown Prince Mohammed bin Salman's Vision 2030 economic plan. The U.S. Energy Information Administration said last...

Iranian state media reported that Iranian Foreign Minister Abbas Araqchi arrived in Moscow on Friday to deliver to Russian President Vladimir Putin a message sent by the Islamic Republic's supreme leader Ali Khamenei. U.S. president Donald Trump has repeatedly warned Iran of bombings and secondary tariffs, if Tehran fails to reach an agreement with Washington regarding its disputed nuclear programme. The United States have also moved additional warplanes in the region. Both sides characterized the U.S.-Iran talks held in Oman at the weekend as constructive and positive. Araqchi stated on Wednesday, ahead of the second round of negotiations that will...

Treasury Department announced that the United States issued new sanctions against Iran on Wednesday. This comes two days after Donald Trump had announced direct talks between the United States and Iran over its nuclear program. In a press release, the U.S. Treasury Department said that it had imposed sanctions against five entities based in Iran and on one individual based in Iran because of their support for Iran's nuclear programme. The aim was to deny Tehran a nuclear bomb. In a statement, Treasury Secretary Scott Bessent stated that "the Iranian regime's reckless pursuit" of nuclear weapons remained a grave danger...

Treasury Department announced that the United States issued new sanctions against Iran on Wednesday. This comes two days after Donald Trump had announced direct talks between the United States and Iran over its nuclear program. Treasury issued a press release stating that the department had designated five entities, and one individual, based in Iran, for their support of Iran’s nuclear program. The goal was to deny Iran a nuclear bomb. Treasury stated that the designated groups had played a vital role in supporting the Atomic Energy Organization of Iran and its subsidiary, The Iran Centrifuge Technology Company. Trump announced on...