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File photo: A man works on a diamond and gold ring inside a Senco Gold & Diamonds jewellery workshop in Kolkata, India. The Middle East conflict has disrupted India’s gems and jewellery exports, as well as imports of rough diamonds from the United Arab Emirates, because of widespread flight cancellations and airspace closures.Dubai, a major global hub for polished and rough diamonds and bullion, has suspended numerous cargo and passenger flights, affecting trade flows and shipments of both exports and essential raw materials, industry officials said.”Exports and imports from the Middle East have come to a standstill, and there are no logistics in place to move goods,” Vipul Shah, managing director of Asian Star, a leading diamond exporter, told Reuters.The Middle East accounts for nearly a quarter of India’s annual gems and jewellery exports of around $30 billion, while the United Arab Emirates makes up more than two-thirds of the country’s rough diamond imports.India is the world’s largest cutting and polishing hub, handling nine out of every 10 diamonds processed globally.The country’s gems and jewellery exports will fall in March as Dubai is not only a major market for gems and jewellery, but also a key intermediary between diamond-producing countries and major consumer markets, said Shaunak Parikh, vice-chairman of the Gem and Jewellery Export Promotion Council.”If it (the conflict) drags on, it could hurt demand,” Parikh said.India has been relying on demand from the Middle East after its top buyer, the US, imposed hefty tariffs on Indian goods last year and curtailed purchases.Overseas buyers are cautious about placing orders amid volatility in the rupee-US dollar exchange rate and logistical constraints, said Colin Shah, managing director of Kama Jewelry.The Indian rupee fell to a record low of 92.3025 per US dollar on Wednesday.Both buyers and sellers know the war has disrupted trade, so they are agreeing to delay shipments, said a Mumbai-based diamond exporter. Related Story Source…
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Swedish Air Force JAS 39 Gripen aircraft are parked in a hangar at the air base in Keflavik, Iceland. Swedish fighter jets are patrolling the skies around Iceland for the first time, as Nato allies try to show both US President Donald Trump and his Russian counterpart Vladimir Putin that they are serious about protecting the Arctic. Sweden has sent six of its Saab Gripen fighter jets, the crown jewel of its defence industry, as part of Nato mission Arctic Sentry.The mission is seeking to strengthen Nato’s presence in the strategically important Arctic region as part of an effort to defuse severe tensions within the alliance prompted by Trump’s push for the US to acquire Greenland.Trump has forced Nato allies to sharply increase military spending, including in the Arctic. He has been particularly unimpressed by Denmark’s military presence on Greenland, which he mockingly described as “two dog sleds”.The Swedish fighters are mainly on the lookout for Russian long-range bombers that can take off from air bases on the Kola Peninsula, which is home to Russia’s Northern Fleet and also has nuclear missile silos. “Iceland as well as all of the Arctic would be important (in case of a conflict) because that’s the warning chain for attacks against the US or Canada across the Arctic,” said Major General Frode Arnfinn Kristoffersen, deputy chief of staff, operations, at Nato Joint Force Command Norfolk.”Russia sees the Arctic as vital to becoming a great power and has also built up new Arctic bases and opened up former Soviet military sites, including deep-water ports and airfields,” he said. Russia has repeatedly dismissed claims it is seeking to take over Greenland, or is a threat in the Arctic, saying they are false “horror stories” made up by Western leaders to justify their own behaviour.HARSH ARCTIC CONDITIONSKeflavik Air Base, built during World War Two and up until 2006 an American base, is home to the Nato air policing missions that have been done periodically since 2008.The cold and windy conditions are the same as those on Greenland and the rest of the Arctic.”We have experiences from operating in this kind of harsh environment…so for us, it’s quite natural to also be able to operate here in Iceland,” said Major General Jonas Wikman, Sweden’s Air Force chief.The JAS 39 Gripen is a fourth-generation light single-engine supersonic multi-role aircraft, meaning it can do air-to-ground, air-to-surface, and air-to-air operations.”It’s perfectly suitable for this weather. It’s built in Sweden for the Swedish climate, and this is basically what we have back in Sweden,” said Lieutenant Colonel Robin Arvidsson, fighter pilot and squadron commander in the Swedish Air Force.It has a low logistical footprint and can be refuelled and rearmed by one officer and four conscripts in as little as 10 minutes.DANGEROUS BUILD-UPWhile Nato allies have rushed to increase the alliance’s presence in the Arctic, some analysts and politicians have questioned the rationale behind the build-up, saying Russia does not currently pose a threat to Greenland.”This is very dangerous because it leads to an action-reaction cycle,” said Pavel Devyatkin, senior associate at Washington-based think tank, The Arctic Institute.”There’s a very high chance of an accidental incident, of an escalation,” he said. “These moves from Sweden and from Nato are basically appeasing President Trump,” he said. Related Story Source link
British Prime Minister Keir Starmer gives an update on the situation in the Middle East at Downing Street Briefing Room, in London, Thursday. The “special relationship” between Britain and the US remains intact and they continue to share intelligence, Prime Minister Keir Starmer said Thursday, after Donald Trump rebuked him for hesitating to support US strikes on Iran.After initially refusing to allow the United States to use British bases for the US-Israeli campaign, Starmer has come under personal attack from the US president, who said the British leader was “not Winston Churchill”.Speaking at a press conference, Starmer defended his decisions both to withhold initial access to bases, and then to participate in “defensive” operations against Iran, once Tehran had responded by attacking its neighbours.”The special relationship is in operation right now,” Starmer said. “We are working together in the region, the US and the British working together to protect both the US and the British in joint bases, where we’re jointly located and we’re sharing intelligence on a 24/7 basis in the usual way.”As well as the tongue-lashing from Trump, Starmer has also faced criticism for his cautious response from other allies in the region, including Cyprus where an Iranian-made drone hit one of Britain’s military bases on the island.He has also faced criticism at home, including from Reform UK leader Nigel Farage, a right-wing Trump supporter, who has accused the prime minister of dithering.”What Keir Starmer has done in alienating the American administration is not to just put that relationship personally at stake, but frankly to risk a relationship with a country without whom we are defenceless,” he told Reuters Thursday.Starmer’s government said this week it would deploy a warship, as well as helicopters with counter-drone capabilities, to help blunt Iran’s retaliatory strikes, and Thursday he announced he would send four more Typhoon fighter jets to Qatar to provide additional protection.Britain, like other European countries, is searching for ways to repatriate citizens stranded in the Middle East by a conflict that has shut some of the world’s busiest airports.Starmer said more than 4,000 people had arrived back in the United Kingdom on commercial flights from the UAE, while 140,000 British nationals had registered their presence in the region. Related Story…
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Nepal voted Thursday for a new parliament in a high-stakes showdown between an entrenched old guard and a powerful youth movement, six months after deadly anti-corruption protests toppled the government.Key figures contesting for power include the Marxist former prime minister seeking a return to office, a rapper-turned-mayor bidding for the youth vote, and the newly elected leader of the powerful Nepali Congress party.Election commission officials collected ballot boxes after voting closed, with papers taken under guard to centres before counting.”The voting process has been concluded peacefully and enthusiastically,” Chief Election Commissioner Ram Prasad Bhandari told reporters, saying turnout had been around 60% according to initial estimates.Some winners are expected to be published as early as today, but full results may take several days.It may then take time before a government is formed if, as many analysts expect, no party wins an outright majority.”Nepalis have been waiting for change for so long, from one system to another,” said Nilanta Shakya, 60, a retired engineer, who was among the first to vote at a college in the capital, Kathmandu.”I hope there is a meaningful change this time,” she added.Voters have chosen who replaces the interim government in place since the September 2025 uprising, in which at least 77 people were killed, and parliament and scores of government buildings were torched.Youth-led protests under a loose Gen Z banner began as a demonstration against a brief social media ban, but were fed by wider grievances at corruption and a woeful economy.Sushila Karki, the interim prime minister, said the vote was critical in “determining our future”.The polls are one of the most hotly contested elections in the Himalayan republic of 30mn people since the end of a civil war in 2006.Thousands of soldiers and police have been deployed.The election saw a wave of younger candidates promising to tackle Nepal’s dismal economy, challenging veteran politicians who have dominated for decades and argue that their experience guarantees stability and security.”Today feels like a day of celebration,” said Nirmala Bhandari, 50, a housewife, who danced in the street with friends for a video for social media, after casting her vote in Bhaktapur district outside the capital.”I am hopeful that the country will get new leaders and that we will build a better nation.”‘Blood will bring change’Helicopters will be used to collect ballot boxes from snowbound mountain regions across Nepal, home to eight of the world’s 10 highest peaks, including Mount Everest.But all eyes will be focused on the hot farming plains south of Kathmandu, where all three prime ministerial hopefuls contested seats — a departure from past elections that focused on the capital.KP Sharma Oli, the 74-year-old Marxist leader ousted as prime minister last year and seeking a return to power, was challenged in the usually sleepy eastern district of Jhapa by former Kathmandu mayor Balendra Shah, a 35-year-old rapper-turned-politician.”This election must re-establish democracy and contribute to end non-political, anarchic and violent tendencies,” Oli said after voting, insisting his party would win the largest number of seats.The Jhapa-5 constituency, with around 163,000 voters, will determine whether Oli secures his seat or whether Shah enters parliament.Shah, from the centrist Rastriya Swatantra Party (RSP), who queued to vote in Kathmandu dressed in a black suit and sunglasses, has cast himself as a symbol of youth-driven political change.Also in the race as aspiring prime minister is Gagan Thapa, 49, the new head of the country’s oldest party, Nepali Congress, who has said he wants to end the “old age” club of revolving veteran leaders.After casting his ballot, Thapa told AFP that it is “the duty of the leaders” not to let the events of last September occur again.On social media, voters shared images of their ink-marked thumbs — alongside photographs of the September protests.”At the Gen Z protest, people died — and their blood will bring change, we hope,” said Tek Bahadur Aale, 66, who voted in Jhapa.”We hope a government with good governance, no corruption, comes this time.”More than 3,400 candidates are running for 165 seats in direct elections to the 275-member House of Representatives, the lower chamber of parliament, with 110 more chosen via party lists. Related Story Source link
North Korean leader Kim Jong-un oversaw tests this week of his country’s naval destroyer, claiming Pyongyang is in the process of “arming the Navy with nuclear weapons”, state media reported Thursday.The tests, including a launch of a sea-to-surface cruise missile, come shortly after Kim led a major once-in-five-years Party Congress, at which he renewed goals of a military buildup and vowed to forcefully respond to any threats.It also comes as the nuclear-armed North’s key foe — the US — launched its joint offensive with Israel against Iran, aiming to wipe out the Islamic republic’s nuclear programme, missiles and navy.Kim inspected on Tuesday a “Choe Hyon” class ship — one of two launched last year — and oversaw a “shakedown” or performance test, the Korean Central News Agency (KCNA) reported.”The arming of the Navy with nuclear weapons is making satisfactory progress,” Kim said, according to KCNA.”All these successes constitute a radical change in defending our maritime sovereignty, something that we have not achieved for half a century,” he added.The following day he oversaw the missile launch from the ship, which was “successfully carried out,” KCNA said.The Choe Hyon is one of two 5,000-tonne destroyers in the North’s arsenal, both launched last year as Kim seeks to ramp up the country’s naval capabilities.A third vessel is under construction, which Kim also visited on Wednesday, according to KCNA.Pyongyang has previously said the Choe Hyon is equipped with the “most powerful weapons”.Some analysts said the ship could be equipped with short-range tactical missiles capable of carrying nuclear warheads — although North Korea has not proven it has the ability to miniaturise its atomic arsenal.Pyongyang last week condemned the ongoing US and Israeli attack on Iran as an “illegal act of aggression”, claiming it had shown Washington’s “rogue” nature.Kim’s latest move involving the ship appears to be “intended as a show of force amid the ongoing Iran situation and ahead of upcoming South Korea-US joint military drills,” Yang Moo-jin, former president of the University of North Korean Studies, told AFP.Pyongyang and Washington are longtime adversaries but the US has mounted a push to revive high-level talks with the North in recent months.Reports and analysts have suggested the US is eyeing a potential summit between US President Donald Trump and the North’s Kim this year.After largely ignoring those overtures for months, Kim said last month that the two nations could “get along” if Washington accepted Pyongyang’s nuclear status. Source link
Australian Prime Minister Anthony Albanese shakes hands with Canada’s Prime Minister Mark Carney at the Australian Parliament House, in Canberra, Australia, Thursday. (Reuters) Australia and Canada said Thursday they had signed new agreements on critical minerals as Canadian Prime Minister Mark Carney made a landmark address to the Australian parliament, a sign of the developing bond between the “middle powers”.Carney is on a multi-leg trip across the Asia-Pacific region also taking in Japan and India. His stop in Australia included the first address to Australia’s parliament by a Canadian leader since 2007.”In a world of great power rivalry, middle powers have a choice: compete for favour or combine for strength,” he told lawmakers.Introducing Carney in parliament, Australian Prime Minister Anthony Albanese said his address represented the closeness of the ties between the two nations.”Australia and Canada are middle powers in a world that is changing. We cannot change it back, but we can back ourselves, back our citizens, and back each other,” he said.Albanese told a press conference that Australia would join Canada’s G7 critical minerals production alliance.”We have agreed to deepen our relationship across several areas, building on our joint declaration of intent on critical minerals that we signed last year,” he told a press conference.The G7 alliance is a Canada-led initiative to diversify and secure global critical minerals production and supply.Canada and Australia together produce about a third of global lithium and uranium, as well as more than 40% of global iron ore.Western nations have been attempting to diversify their supply chains away from China, which still controls the majority of production and processing of critical minerals, essential for semiconductors and defence applications.Canada believes that the best way to address the issue of concentrated supply of critical minerals is through a production alliance or a buyers’ club rather than just a price floor, Energy and Mining Minister Tim Hodgson told Reuters on Tuesday.Australia has already allocated A$1.2bn ($850mn) to build a critical minerals stockpile, beginning with antimony, gallium and rare earths.That will now be more closely aligned with Canada’s defence stockpiling regime that has a similar aim, Albanese said.”There’s a lot Canada and Australia can do together on critical minerals as producer nations,” Australian Resources Minister Madeleine King told Reuters ahead of Carney’s visit.Australia and Canada will also deepen cooperation in areas including defence and maritime security, trade and artificial intelligence, the two leaders said. Related Story…