Iran war live: Pezeshkian says Middle East can solve own issues without US
Iranian president's words came at summit for gas exporting countries in Russia.
newsmart
Iranian president's words came at summit for gas exporting countries in Russia.
One morning in June, the head of export at Ukrainian drone company Stellarion found himself unexpectedly in need of a U-Haul outside the Detroit Metro Airport in Michigan. Stellarion was set to test its drones in front of American soldiers at a competition organized by the Pentagon at Camp Grayling,
Emissions from exported oil would not count against carbon budget, insiders say – reasoning likely to draw dismay from climate campaignersThe giant Rosebank oilfield can be approved without breaching the UK’s emission targets, according to government insiders, in a boost to those in the cabinet who are pushing for it to be given the go-ahead.The Guardian revealed last week that Miatta Fahnbulleh, the energy secretary, was leaning towards rejecting the project, but her position has put her at loggerheads with cabinet colleagues, including the chancellor, John Healey, who are lobbying for an approval.
Continue reading...
MOSCOW — Iranian President Masoud Pezeshkian told his Russian counterpart Vladimir Putin on Tuesday that the Middle East can solve its problems without the involvement of the United States. "I believe we are capable of resolving our problems in the region without relying on the United States," Pezeshkian said at a meeting with Putin on the sidelines of a summit of the Gas Exporting Countries Forum in Moscow.
"Our trade is expanding and growing day by day. U.S. actions in the region make it easier for U.S. to move towards greater multilateralism and strengthen our cooperation with you and other countries subject to unilateral U.S. sanctions," he told Putin. Putin said he discussed the war with Pezeshkian, expressing hope that the situation would improve.
"We spoke earlier, one-on-one, about the situation in the region -- a situation that, undoubtedly, cannot help but cause concern," he said, adding that he hoped it would "evolve in a positive direction." Pezeshkian said he was confident the will existed on both sides to expand cooperation in science, industry, culture, security and milit
Businesses can issue credit notes for eligible post-sale discounts without a prior agreement, while CBIC clarifications address export refunds, registration timelines and tax disputes.
Ras Tanura is home to the kingdom’s largest refinery and one of the world’s most important oil export terminals.
The Korean won edged down against the U.S. dollar Tuesday, as traders have kept a close watch on a Federal Reserve meeting this week. The won was quoted at 1,323.7 won per dollar at 3:30 p.m., down 0.6 won from the close of the previous stock trading session.
At one point in morning trading, the won advanced to a high of 1,322.8 won per dollar, helped by stronger-than-expected economic growth in the third quarter. The nation's economy grew 1 percent in the July-September period, thanks to semiconductor-led exports and investment. Foreign investors purchased a net 592.9 billion won ($447 million) worth of local shares during the latest regular stock trading session, with the benchmark Korea Composite Stock Price Index gaining 3.09 percent to close at 5,638.34.
Social media platforms have become a key marketplace for Korean beauty, food and fashion brands, and companies can leverage artificial intelligence (AI) to make their products go viral in global markets at minimal cost, according to an AI expert in Seoul Tuesday. Seldon Yoon, founder and CEO of Indent, a Seoul-based developer of commerce AI transformation (AX) solutions, said Reels and short-form content on Instagram and TikTok have become major channels for Korean consumers to discover and purchase new products.
He added that creator content marketing has become more critical than ever, particularly for companies seeking to promote their products overseas and attract local consumers. Yoon, a former global e-commerce consultant for Samsung Electronics, cited a sharp increase in K-beauty exports since 2024 as evidence of successful overseas marketing.
According to the Ministry of Food and Drug Safety, Korea's cosmetics exports reached a record $11.4 billion last year, up from $10.2 billion the previous year, with the United States accounting for the largest share. “All K-beauty exporte
Removing tariffs on more than 100 products, including gherkins and baked beans, was one of five measures announced this morning before tomorrow’s budgetIt is not just gherkins where the Treasury is cutting import tariffs. (See 9.07am.) Here is the lists from the Treasury of mostly food imports where tariffs are being cut.Garlic (8% + £100 per 100 kg)Gherkins (12%)Yes, I do.
We certainly stand taller in the world. The terrible projections of doom as to what would happen to our financial sector etc haven’t happened. Our growth rates are higher than our European competitors. Our exports, particularly of services to the European Union, have actually rocketed.
And we’ve now got more trade deals and more options around the rest of the world.Five months ago, Andy Burnham says … I’m not going to reopen these arguments.Two-and-a-half years ago, a Labour government got a massive majority in parliament saying we will not be re-entering the single market, the customs union, or opening up a debate on the free movement of people.
Continue reading...
Korea's economy is growing on the back of a semiconductor export boom, but consumers aren't feeling the benefits. Private consumption fell 0.2 percent in the third quarter from the previous quarter, marking its first decline since the second quarter of 2023, according to preliminary data on third quarter economic growth from the Bank of Korea (BOK), Tuesday.
Private spending growth had already slowed from 0.6 percent in the first quarter to 0.4 percent in the second before turning negative in the third. Spending declined for both goods, including cars and home appliances, and services, such as financial and dining services. The decline came even as the economy expanded 1 percent in the third quarter from the previous quarter, exceeding the central bank's forecast of 0.3 percent.
Weak private spending stood in contrast to stronger headline growth driven by robust semiconductor exports. While the export boom has lifted overall economic growth, its benefits have yet to result in a stronger recovery in domestic consumption. The BOK attributed the decline in private consumption partly to a drop
Moscow will restrict mobile internet for three days during the Gas Exporting Countries Forum and Russia-Africa summit, citing security concerns. The shutdowns come amid intensified Ukrainian drone attacks on the Moscow region and follow weeks-long outages in the capital earlier this year.
Korea is "almost certain" to reach a gross national income (GNI) per capita of $40,000 this year, the finance ministry said Tuesday, as Asia's No. 4 economy grew 1 percent in the third quarter from the previous three-month period, driven by strong exports and investment.
The Ministry of Finance and Economy made the assessment following the release of advance third-quarter data from the Bank of Korea (BOK), which would mark a new milestone after the country's per capita GNI, a gauge of the population's purchasing power, first surpassed the $30,000 mark in 2014. "Korea maintained solid growth despite a high base effect from the first half, raising the possibility of growth in the mid-3 percent range this year," the finance ministry said.
Finance Minister Lee Hyoung-il said this month Korea's economic growth for 2026 could range from 3.4 percent to 3.6 percent. "The GNI per capita is almost certain to hit $40,000 for the first time ever," it added. The International Monetary Fund also recently projected Korea's per capita GNI would reach the $40,000 level in 2026 and $50,000 in 2028. The fina
Hanwha Ocean is bolstering its push for its warship business overseas, targeting strategic markets across Europe, Southeast Asia and Latin America as it moves to strengthen its position in the global naval defense industry. The shipbuilder is leveraging its submarine design and construction expertise, surface warship experience and large-scale production capacity to pursue new export opportunities.
Hanwha Ocean is the only Korean company to have participated in all three Korean Destroyer eXperimental (KDX) programs and all multi-phase Jangbogo submarine development projects. The KDX program is an initiative by the Republic of Korea Navy to modernize its destroyer fleet. The company's overseas naval business builds on its previous export record and a growing pipeline of potential contracts.
Under its former name, Daewoo Shipbuilding & Marine Engineering, Hanwha Ocean accumulated overseas submarine project experience through programs in Indonesia. It has also delivered frigates to Bangladesh and Thailand, as well as naval support vessels to Britain and Norway. More recently, the company was
Korea's economy expanded 1 percent in the third quarter from the previous quarter, extending its stronger-than-expected recovery on the back of booming semiconductor exports, the Bank of Korea (BOK) said Tuesday. Preliminary data from the central bank showed that real gross domestic product (GDP) rose 1 percent in the July-September period, exceeding the BOK's own projection of 0.3 percent for the quarter.
Facilities investment rose 4.1 percent, mainly on increased investment in machinery, including semiconductor manufacturing equipment. Investment in intellectual property products grew 2.3 percent as spending on research and development and software increased. Exports grew 2.3 percent, driven mainly by semiconductors and machinery and electrical equipment.
Imports rose 2.4 percent, led by increases in crude oil and semiconductor manufacturing equipment. The stronger-than-expected growth puts the economy on a firmer footing to meet the BOK's growth forecast of 3.3 percent for this year, released in August. The country's quarterly growth rebounded sharply from a 0.1 percent contraction in
Investors are worried about the vulnerability of Saudi energy infrastructure and the risk of another disruption to production, refining or export facilities.
Midwest refinery issues combined with ongoing international conflicts affecting oil exports have pushed Michigan's average to $4.82 per gallon, with diesel reaching $6.81 statewide.
CAIRO, Oct 26 (Reuters) - Parliament authorised Egyptian President Abdel Fattah al-Sisi on Monday to take "all necessary measures" to help Saudi Arabia to defend itself - a move that could push Cairo more directly into the conflict between the kingdom and Yemen's Iran-allied Houthis.Sisi had asked parliament to approve military support to Egypt's Gulf Arab ally and the world's biggest oil exporter if Riyadh requested help against the Houthis, whose advances also threaten the strategic Bab el-Mandeb Strait — southern gateway to the Red Sea and Egypt's Suez Canal.
Steven Greenhouse | The president’s policies have taken such a toll on farmers that Republicans face trouble in deep-red statesDonald Trump’s policies have been a disaster for the nation’s farmers, so much so that a near electoral miracle may soon happen: Kansas, one of the deepest red, most rural states, may elect its first Democratic senator in nearly a century.After Trump won farm country handily in 2024, many rural voters in Kansas, Iowa and elsewhere have soured on him because the price of diesel fuel, a key input for farming, has soared by nearly 70%, farm bankruptcies have surged and because Trump’s trade wars have significantly reduced agricultural exports.Steven Greenhouse is a journalist and author, focusing on labor and the workplace, as well as economic and legal issues Continue reading...
India signed 14 binding clean hydrogen supply contracts in the first four months of 2026, covering 311,520 metric tonnes of annual supply, with 62% destined for export markets, former NITI Aayog CEO Amitabh Kant said. The contracts signal India's growing ambitions in the global clean energy trade.
The deal is a key step towards harnessing Cyprus' natural gas reserves and bolstering energy cooperation in the Eastern Mediterranean, with exports to Europe via Egypt and production due to start in 2028.
No subscription, no ads, no tracking.
Just curated news from reliable RSS sources.
If you enjoy the service, I'd love a coffee. ☕
Traders say some exports are crossing border after a weeklong halt, but Tehran says its cargo is not getting through.
Top Democrats poised for powerful roles next year are demanding that major banks and ports preserve any records they have tied to potential imports or other deals involving Russian diesel.Why it matters: Probing President Trump's agreement with Moscow will be a priority if Democrats regain control of either or both chambers of Congress.The new demand shows that inquiries will extend beyond the White House and into C-suites.
Driving the news: "[A]ny importation of Russian diesel into the U.S. raises significant legal questions and may be subject to legal action, as well as congressional investigations," a new letter obtained by Axios states.It's signed by Sens. Chris Coons (D-Del.), Elizabeth Warren (D-Mass.), Ron Wyden (D-Ore.), and Sheldon Whitehouse (D-R.I.).They're in line to lead the powerful Foreign Relations, Banking, Finance and Judiciary Committees, respectively, if Democrats regain the Senate.
Rep. Greg Meeks (D-N.Y.), who's in line for the Foreign Affairs Committee gavel if House control changes, also signed. It's led by Sen. Jeanne Shaheen (D-N.H.), the top Foreign Relations Democrat who is not seeking reelection. Sen. Thom Tillis (R-N.C.), who is also retiring, signed as well.State of play: The Wall Street recipients of Saturday's letter are J.P.
Morgan, Bank of America, Citi, Wells Fargo, Goldman Sachs and Morgan Stanley.The same letter went to port authorities for the ports of Houston, Beaumont, and Corpus Christi, Texas, and New York/New Jersey.Catch up quick: Earlier this month Trump claimed an agreement to bring escalating Russian exports to global and U.S. markets, and the Treasury Department waived sanctions to help enable it.Friction point: The lawmakers and other critics say it runs afoul of a bipartisan 2022 law barring imports of Russian oil, gas, and petroleum products."The potential arrangement to import Russian diesel also raises significant national security concerns, given that it would finance Russia's brutal and illegal war against Ukraine," the letter states.
Yes, but: The Treasury Department has repeatedly claimed the agreement is legal.The big picture: The new letter urges the banks and ports not to enable "purchase, transportation, importation, unloading, storage, financing, or distribution" of Russian diesel in the U.S.It also goes further, urging the parties not to facilitate any transactions for Russian diesel to other markets under the recent sanctions waiver.
Zoom in: Citing "anticipation of further congressional oversight," it calls on recipients to preserve a wide range of potential records and communications related to "proposed or actual" transactions.Think contracts, shipping documents, vessel records and plenty more. The demand extends to any communications with suppliers, intermediaries and U.S. government officials.
The lawmakers want confirmation by Wednesday that records are being preserved, plus details of any potential or actual Russian diesel transition.What we're watching: It's unclear how much Russian diesel, if any, will reach U.S. shores.Reports Friday in S&P Global, Reuters and elsewhere identify a tanker that initially signaled a New York destination, while the shipping intelligence firm TankerTrackers on Friday said three tankers had signaled U.S. destinations.But ships' planned destinations frequently change for one reason or another.Sign up here for Axios' Future of Energy newsletter.
India might have demand for specialized construction machinery, electrical machinery, wires and cables, safety equipment, industrial materials and…
The Korean won has strengthened sharply against the U.S. dollar in recent months, raising expectations that the won-dollar exchange rate could fall below 1,300 won per dollar and enter the 1,200 won range, market watchers said Monday. On Seoul's foreign exchange market, the exchange rate closed at 1,323.1 won per dollar, down 1.5 won from the previous session.
The exchange rate has fallen by more than 200 won from its monthly average of 1,528 won in June, as strong semiconductor exports have helped offset dollar demand from foreign investors selling Korean stocks. The won's recovery is also reflected in its nominal effective exchange rate (NEER), which measures the currency's value against those of its major trading partners without adjusting for inflation.
According to the Bank for International Settlements, the won's NEER index rose to 94.83 as of last Tuesday, up from 91.99 at the end of September. This marks the highest level since Oct. 9, 2024, when the index was 94.91. The NEER, which uses 2020 as its base year with a value of 100, fell to 81.99 in June.
At the time, the won-dollar
President Lee Jae Myung on Monday acknowledged concerns among farmers and fishermen over Korea's potential entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), ensuring he will make efforts to prevent any unfair damage to them. The president made the pledge during a meeting with representatives from the agricultural, fisheries, forestry and livestock industries as he sought to address controversies facing the sectors, including CPTPP membership.
Earlier this month, Lee ordered the government not to apply for CPTPP membership this year, pledging to hold sufficient consultations with farmers and fishermen who are opposed to Korea's entry into the major Indo-Pacific trade bloc. While CPTPP membership is expected to help boost Korea's exports, the agricultural and fisheries sectors are likely to take a hit from market opening.
"I know that there are worries and concerns over CPTPP ... To be clear, there will be no cases of you sustaining unfair damage," the president said, adding he had instructed officials to make decisions on CPTPP entry through suf
Seoul is bringing railway officials from six countries to Korea this week in a bid to turn its urban transit expertise into overseas contracts for Korean rail operators and manufacturers. The Seoul Metropolitan Government said Monday that 12 officials from Vietnam, Indonesia, Thailand, the Philippines, Egypt and Malaysia are taking part in its five-day international training program, which runs through Friday.
The program is the largest of its kind since 2020, according to the city, and brings together officials from countries pursuing major urban railway projects. Rather than limiting the visit to policy discussions, Seoul has designed the program to expose participants to the technology and operations behind its transit network, from traffic management to train manufacturing.
The itinerary includes the Seoul Transport Operation and Information Service, known as TOPIS, Seoul Metro, the Shinbundang Line and the Ui-Sinseol Line, as well as the Korea Railroad Research Institute and a railway vehicle manufacturing plant. The visits are intended to give participants a broad view of Korea’s
Hyundai Glovis is joining forces with Shopee to help Korean beauty brands navigate the logistical hurdles of overseas expansion, betting that smoother shipping and customs procedures can turn global demand for K-beauty into a larger business opportunity. The logistics company said Monday it began operating under an end-to-end logistics partnership with Shopee Korea this month, covering the full supply chain for Korean cosmetics brands seeking to sell through the e-commerce platform.
Shopee, which has about 700 million users, is a leading e-commerce platform in Southeast Asia and Taiwan and has a significant presence in Brazil, according to Hyundai Glovis. The partnership will provide sellers with a single point of contact for domestic cargo pickup, air and sea freight, import and export customs clearance, local regulatory approvals and fulfillment services.
Hyundai Glovis said the integrated system is intended to shorten delivery times and reduce the burden on cosmetics companies that have traditionally relied on separate providers for different stages of shipping, often creating bottlen
Alibaba Group’s e-commerce platforms generated an estimated 14.17 trillion won ($10.4 billion) in production across Korea’s economy last year through sales of Korean-registered brands to Chinese consumers, according to research released Monday. The study by Choi Seong-jin, a professor at Hanyang University, examined how the Chinese marketplaces Taobao and Tmall, along with other Alibaba platforms, help Korean companies reach overseas customers and expand domestic business opportunities.
Transactions involving Korean-registered brands on Taobao and Tmall totaled about 7.1 trillion won in 2025, while sales attributed to Korea after adjustments for overseas distribution and service margins amounted to about 5.43 trillion won, the research found. The estimated domestic value-added effect was 5.06 trillion won, while related employment was estimated at 42,300 jobs.
“Overseas sales of Korean brands through global online platforms can expand export opportunities while creating new demand for domestic industries, including raw-material suppliers, packaging manufacturers and logistics servi