MIDDLE EAST COUNTRIES
Kalyan Jewellers to enter US market, plans 70 new showrooms globally
In its quarterly update report released today, the company has said that it has reported overall revenue growth of approximately 27% YoY, whereas revenue growth for India operations stood at 29% during Q1 FY2025. Revenue growth from Middle East operations stood at 16% YoY
Iran holds runoff presidential vote pitting hard-line former negotiator against reformist lawmaker
Voters face a choice between the hard-line former nuclear negotiator Saeed Jalili and Masoud Pezeshkian, a heart surgeon and longtime parliament member who has allied himself with moderates and reformists within Iran's Shiite theocracy.
Hezbollah's deputy leader says group would stop fighting with Israel after Gaza cease-fire
Hezbollah's deputy leader, Sheikh Naim Kassem, stated that a full cease-fire in Gaza is crucial for halting hostilities on the Lebanon-Israel border. He emphasized Hezbollah's support role for Hamas and indicated that if Gaza's conflict ceases, their military assistance will also end. Kassem expressed uncertainty about how Hezbollah would respond to partial cease-fires or ongoing military actions in Gaza. The remarks come amid heightened tensions as talks of Gaza cease-fires falter, raising concerns of escalation along the Lebanon-Israel frontier.
US and Europe warn Lebanon's Hezbollah to ease strikes on Israel and back off from wider Mideast war
Mediators from the U.S., Europe, and Arab nations are working to prevent escalating tensions between Israel and Hezbollah in Lebanon from turning into a broader Middle East conflict. Despite ongoing violence and threats from Iran and Israel, efforts are focused on warning Hezbollah against provoking Israel further. The situation has been marked by cross-border attacks and strong rhetoric, with fears that a second front in the region could open, complicating the conflict with Hamas in Gaza. Diplomatic efforts continue, with hopes that a resolution in Gaza could ease tensions along the Israel-Lebanon border.
80% maths teachers in India, Middle East falter on basic mathematical questions: Study
A recent study by Ei, an EdTech company, revealed that nearly 80% of in-service math teachers in India and the Middle East lack basic conceptual understanding in areas such as ratio, proportional reasoning, algebraic reasoning, estimation, and logical reasoning. The study assessed 1,357 teachers from grades 3 to 6 across 152 schools in India, UAE, Oman, and Saudi Arabia over two years. Results showed that 75% of teachers struggled to answer half of the questions correctly, with only 25% able to answer a quarter of the questions accurately.
IMEC will prove to be one of 'biggest game-changers' of 21st century: President Murmu
The IMEC envisages a vast road, railroad and shipping networks among Saudi Arabia, India, the United States and Europe with an aim to ensure integration among Asia, Middle East and West.
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Oil prices edge higher as supply risks mount
Oil prices responded to geopolitical tensions and supply disruptions, with concerns over fuel demand dynamics. The market saw gains in Brent and WTI futures amidst heightened uncertainties, while attention remained on the impact of geopolitical conflicts on oil supply. Anticipation of increased gasoline consumption over the July 4th weekend offered some relief amid persisting demand challenges.
Akasa Air to start flying to Abu Dhabi from Jul 11
Akasa Air started international services with flights to Doha in March. It has also announced flights to Jeddah and Riyadh. It also has traffic rights for Kuwait, and Medina.
No matter who wins Iran's presidential election, much may hinge on the 'Great Satan' US
In the waning moments of Iran's final televised presidential debate, one of the top candidates to replace the late hard-line President Ebrahim Raisi invoked the name of the one person who perhaps has done more than anyone to change the trajectory of the Islamic Republic's relationship with the wider world in recent years.
Oil prices slide on fears of slow US demand after surprise inventory build
Oil prices dropped due to rising U.S. stockpiles, affecting market sentiment. Brent crude traded at $84.17, and U.S. West Texas Intermediate at $80.58 per barrel. Escalating conflicts in Gaza, notably in Rafah, contribute to market uncertainties amidst concerns over weakening demand.
Does the future of South Asian cuisine lie in the Middle East?
Food in other South Asian countries has changed since 1947. One of the biggest influences is the Gulf states, where millions from across this region have flocked to work. This has become the place where South Asian cultures and cuisines really connect, meeting Middle Eastern food and coming back here in shawarmas and other foods
Oil up on firming demand, Mideast tensions underpin risk premium
Oil prices rose on Tuesday due to a stronger demand outlook and investor confidence in OPEC+ producers. Global benchmark Brent crude futures and U.S. West Texas Intermediate crude futures were up, closing at their highest since April.
India's foreign policy priorities under Modi 3.0
Narendra Modi is all set to become India’s Prime Minister for a third consecutive term. Here's a look at the likely foreign policy priorities under Modi 3.0.
Oil prices slip despite OPEC+ production cut extension
Oil prices fell as OPEC+ extended output cuts, impacting Brent and WTI futures. Goldman Sachs analysts view meeting as bearish. Gaza conflict mediators urge Israel-Hamas ceasefire. Israel considers alternative to Iran-backed group.
US is slowing AI chip exports to Middle East by Nvidia, AMD
In October, the Commerce Department added much of the Middle East to chip export restrictions that originally focused on China and a handful of other foreign adversaries. That meant companies needed a special US government license to ship cutting-edge semiconductors and chipmaking tools to countries such as Saudi Arabia and the UAE.
UAE looking to expand scope of trade under CEPA with India: Official
The UAE aims to expand the Comprehensive Economic Partnership Agreement (CEPA) with India, signed on February 18, 2022, to enhance bilateral trade. Feryal Ahmadi, COO of Dubai Multi-Commodities Centre, highlighted potential sectors like agri-commodities and critical minerals. She emphasized India's significance as a trading partner and discussed the growth in UAE-India CEPA trade.
Jakson Green secures Rs 60 crore funding from HSBC India
This funding will support the company's working capital requirements for its renewable energy business, both in India and internationally, the company said.
US must read the riot act to Israel
Israel's decision to ignore the ICJ ruling is unfortunate. Tel Aviv must stop acting like a law unto itself. There is no doubt that Hamas violated international law on October 7 when it attacked Israel and continues to do so by holding Israeli civilians hostage. Israel's response is legitimate, but its nearly eight-month offensive violates the tenet of proportionality.
Palestine: Ireland, Spain and Norway recognize the state as countries push for Israel-Hamas war solution
The leaders of Ireland, Spain, and Norway announced their countries' recognition of Palestine as a state, intending to support a two-state solution and push for peace in the Israeli-Palestinian conflict. Israel's reaction was negative, warning of potential consequences. This move aligns with several European countries considering similar recognition.
Saudi King Salman’s health, Iran President Raisi’s death spur succession bets
The death of Iranian President Ebrahim Raisi has not significantly altered the regime's trajectory, with little hope for political reform or reduced hostility towards the US and its allies, according to Western officials. The focus has shifted to succession planning, especially given the aging Supreme Leader Ayatollah Ali Khamenei. However, Iran's detente with Saudi Arabia is expected to continue, as is its support for regional proxies. In Saudi Arabia, Crown Prince Mohammed bin Salman's ascension to the throne is expected to maintain continuity in oil policy and regional relations.
Helicopter crash that killed Iran's president and others could reverberate across the Middle East
The helicopter crash of Iranian President Ebrahim Raisi and Supreme Leader Ayatollah Ali Khamenei underscores Iran's vast influence in the Middle East, impacting regional conflicts, alliances, and nuclear concerns.
Helicopter crash that killed Iran's president and others could reverberate across the Middle East
The helicopter crash involving Iranian President Raisi will have significant consequences in the Middle East and Israel, fueled by concerns over Iran's pursuit of nuclear weapons, U.S. sanctions under Donald Trump, and disruptions to the U.N. nuclear agency. The escalating tensions pose a threat to global non-proliferation efforts.
Saudi crown prince, US national security adviser meet on Gaza, bilateral deal
The de facto Saudi leader and President Joe Biden's top security aide also discussed the need to find a "credible track for bringing about the two-state solution" for Israel and the Palestinians, stop the war against Hamas militants in Gaza and facilitate the entry of humanitarian aid, the statement said.
India concerned over delay in implementation of pathbreaking IMEC project
Billed as a pathbreaking initiative, the IMEC envisages a vast road, railroad and shipping network among Saudi Arabia, India, the United States and Europe with an aim to ensure integration among Asia, the Middle East and the West.
Crude oil prices near 2-month lows. What’s next?
The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar correction was witnessed in the Asian Brent and the domestic MCX futures as well.
Global debt crisis impacting nearly 95 countries: G20 Sherpa Amitabh Kant
G20 Sherpa Amitabh Kant emphasized the challenges posed by the Russia-Ukraine war and tensions in the Middle East for global stability and economics. He stressed the need for urgent action to pursue inclusive and sustainable growth strategies in the face of a global debt crisis affecting nearly 95 countries, while maintaining focus on achieving the Sustainable Development Goals (SDGs) by 2030.
Unified GCC visa: Middle East’s multi-nation travel permit to be rolled out this year
The Saudi Tourism Authority has said the imminent introduction of the Unified GCC visa, permitting travellers to explore all six Gulf nations for more than 30 days, is scheduled for implementation by year's end. This initiative, introduced by the UAE Minister of Economy at the Arabian Travel Market, seeks to stimulate tourism and streamline travel throughout the GCC region. Comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, the Gulf Cooperation Council is actively participating in this endeavour.
Oil prices rise as Israel weighs response to Iran attack
Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel's military chief said his country would respond to Iran's weekend missile and drone attack amid calls for restraint by allies.
US works to prevent an escalation across the Mideast as Biden pushes Israel to show restraint
US aids Israel in countering Iran's assault. President Biden leads G7 to prevent escalation. American Patriot system in Iraq downed missiles. Rubio criticizes White House response to Gaza conflict.
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