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China’s Major General Meng Xiangqing of the National Defence University, the head of the Chinese delegation, attends the 23rd Shangri-La Dialogue summit in Singapore yesterday. (AFP)…
US President Donald Trump said he was making his final decision on a potential deal with Iran on Friday, as Tehran insisted any agreement on ending the Middle East war hinged on Washington dropping its “excessive demands”. Iran’s top negotiator had said earlier Tehran would only trust Washington’s actions, not its words, after US Vice President JD Vance said progress had been made on a deal to extend a ceasefire and provide a framework for peace talks. US sources told AFP the deal was just waiting on Trump’s sign-off following weeks of halting negotiations to end a conflict that had engulfed the Middle East and shaken the global economy.”I will be meeting now, in the Situation Room, to make a final determination,” Trump said in a lengthy social media post, reiterating long-held demands that Iran agree never to have nuclear weapons and open the vital Strait of Hormuz shipping lanes. He said Tehran would remove mines in the strait, the US would lift its naval blockade of Iranian ports, and the two countries would coordinate on removing and destroying Iran’s enriched uranium, though he did not clarify whether the points had already been agreed or were part of the deal under consideration. Related Story Source link
US Vice President JD Vance said that Washington has not yet reached an agreement with Iran, but indicated that the two sides are close to achieving one. Speaking to reporters today, he added that the United States is in a position to significantly hinder Tehran’s nuclear program, noting that there are still some sticking points in the talks with Tehran regarding its stockpile of enriched uranium and the issue of enrichment. Vance continued, “It’s difficult to say when the president will sign the memorandum of understanding, or even if he will sign it at all. We are still negotiating some of the wording.” He concluded, “I cannot guarantee that an agreement will be reached, but I am currently very optimistic about it.” Sources had revealed to American media that the United States and Iran reached a preliminary agreement on Thursday to extend the ceasefire and lift restrictions on navigation through the Strait of Hormuz, and that the agreement was awaiting the approval of US President Donald Trump. Source link
Canada is pushing more of its aluminium towards Europe to make the most of higher premiums on offer, after its neighbour the United States imposed a 50% tariff on the metal last year. A loss of Middle East volumes due to the Iran war has hit Europe hardest and intensified competition with the US for low-carbon supply, driving prices to extreme levels, with policy and prices determining where scarce aluminium is shipped, analysts, traders and aluminium industry sources said.Disruption in the Middle East, which accounts for 9% of global aluminium smelting capacity, has upended trade flows far beyond the Gulf, industry sources told Reuters. An ensuing tug-of-war is playing out in regional physical market premiums US and European buyers pay above the London Metal Exchange benchmark for aluminium, which is used in everything from cars and cans to building materials.’We are in a situation where the Europeans and the Americans are competing for limited aluminium units,’ said Bank of America analyst Michael Widmer. Duty-paid aluminium premiums in Europe have surged 73% since the start of the Iran war to a record $621 a metric tonne earlier this month, while the US Midwest premium last week hit an all-time high of $1.16 per lb, or $2,557 a tonne.Gregory Wittbecker, president at Wittsend Commodity Advisors, estimates the US Midwest premium needs to rise to at least $1.20 a lb or $2,645 a tonne for Canadian producers to divert supply back from Europe. With LME prices around $3,670 a tonne, US consumers are paying $6,200 a tonne for their aluminium while in Europe the cost has jumped to $4,300 a tonne. ‘The European premium is an incentive for Canadians to push metal east,’ said Wittbecker.The US was traditionally the default destination for aluminium from Canada, which exported a total of nearly 2.6mn tonnes of unwrought aluminium metal and alloys last year, Trade Data Monitor figures showed. But after US President Donald Trump imposed tariffs on imports, Canadian producers began to divert metal to Europe.TDM data shows Canadian aluminium accounted for 54% of US imports in the first quarter of this year, down from 63% in the same period last year and 75% in the first three months of 2024.One reason for this is the so-called netback to producers, which refers to how much profit is actually made after deducting transport, tariffs and other costs from the selling price. ‘When comparing US and EU prices from an export perspective one has to shave off the portion going to the U.S. Treasury in tariffs to get to comparable netbacks,’ Jean Simard, president of the Aluminium Association of Canada, told Reuters.’This is why the EU option remains attractive to Canada, adding pressure on the US market,’ Simard added.Canadian aluminium exports to the European Union ranged between 6% and 40% of the monthly totals between April 2025 and March 2026, compared with near zero in the first quarter of last year, TDM data showed. Data for Canada's April aluminium exports is not yet available, but industry sources expect it to confirm the trend of rising exports to Europe and falling shipments to the US.EUROPE'S ALUMINIUM DEFICITBank of America's Widmer estimates Europe faces a 5.6mn-tonne aluminium deficit in 2026, versus a global shortfall of 2.2mn tonnes and a 3.8mn-tonne US deficit. Last year, Europe imported around 1.3mn tonnes or 21% of its primary and alloyed aluminium from the Middle East, TDM data shows, and its loss comes in addition to the phasing out of Russian aluminium by the EU and the mothballing of South32's Mozal smelter in Mozambique.Even before the Iran war began with US-Israeli strikes on February 28, Canadian shipments to Europe jumped 276% from 2024 levels to more than 590,000 tons last year, while deliveries to the U.S. fell 25% to around 2mn tonnes, TDM data shows. Source link
Philippine President Ferdinand Marcos Jr and Japanese Prime Minister Sanae Takaichi take part in a joint press conference at the Akasaka Palace State Guest House in…
Jo Yong-won, chairman of the Standing Committee of North Korea’s Supreme People’s Assembly meets Singapore’s Foreign Minister Vivian Balakrishnan, in Pyongyang. (Reuters) North Korea does not seem keen to engage with the US, Republic of Korea or Japan and is focused on building up its self-reliance and military deterrence, Singapore’s foreign minister said following a trip to the reclusive state.According to a transcript shared by the foreign ministry, Vivian Balakrishnan spoke to Singaporean media yesterday after a visit to both Koreas respectively on May 26 and 27. His last trip to North Korea was in 2018.”What’s clear is that they’re certainly in a closer relationship now with Russia. China remains indispensable to it, but they are not yet ready to open up significant channels of communication with the US or with ROK and Japan at this point in time,” he added.US President Donald Trump and Republic of Korea President Lee Jae-myung have repeatedly expressed interest in holding talks with North Korean leader Kim Jong-un.Pyongyang’s ties with Moscow deepened in recent years after North Korea sent thousands of troops to fight with Russian forces in Kursk. Beijing has also been working to draw Pyongyang back into its orbit, with passenger train services and flights between the two neighbours resuming in past months.Balakrishnan also mentioned North Korea’s “outright, categorical rejection of reunification” with Republic of Korea — a shift from his last trip to the nation — and noted how Pyongyang, the capital, has developed despite the country’s deepening isolation.”It’s a city which would fit in with any modern city throughout Southeast Asia, or even Northeast Asia, for that matter,” he said.North Korea has revised its constitution to define its territory as bordering Republic of Korea and remove references to reunification, according to a draft of the text reviewed by Reuters this month, codifying leader Kim Jong-un’s push to treat the two Koreas as separate states.Yesterday, Republic of Korea’s foreign ministry said Foreign Minister Cho Hyun asked Balakrishnan for Singapore and Asean’s support for efforts to reopen dialogue with North Korea.Balakrishnan said he invited North Korean Foreign Minister Choe Son Hui to the Asean Regional Forum and had encouraged them to look for appropriate opportunities to continue to engage the larger world. Source link
A drone view shows vessels anchored at the Strait of Hormuz, as seen from Musandam, Oman. (Reuters) The United States and Iran reached an agreement yesterday to extend their ceasefire pending the approval of President Donald Trump, after Iran had targeted a US air base in Kuwait following US strikes on what Washington called an Iranian drone operation. According to four sources familiar with the matter, the two sides agreed a memorandum-of-understanding to extend the truce for 60 days but the plan still needed Trump’s signoff. The agreement will state how to address Iran’s stockpile of highly enriched uranium, which will be among the first issues discussed during the 60-day window, according to an earlier report by Axios, which broke the news. The White House declined to comment. The reports prompted oil prices to reverse course and trade lower on hopes of a potential reopening of the Strait of Hormuz, a key transit route for roughly a fifth of the world’s oil and liquefied natural gas supply. But Iran’s Tasnim news agency, citing a source close to Tehran’s negotiating team, said the text had not been finalised and Iran would inform mediator Pakistan if and when it had been agreed.Iranian sources cited by local media also said a deal would only be complete when announced by Tehran, not unilaterally by Trump. Trump has repeatedly said the end of the war is close but told media at a cabinet meeting on Wednesday he was not yet satisfied by the negotiations and that the US was not discussing easing sanctions, one of Tehran’s demands. The latest attacks, while limited, highlighted the fragility of negotiations to turn the tenuous early-April ceasefire into a lasting agreement to end the three-month-old war – which has killed thousands – and reopen the vital Strait of Hormuz. US Central Command said US forces had shot down five Iranian attack drones and struck a ground control station in the port city of Bandar Abbas that was about to launch a sixth. Kuwaiti forces had then intercepted a ballistic missile fired towards the country, which hosts a large US base. “These actions were measured, purely defensive and intended to maintain the ceasefire,” a US official, who requested anonymity to speak candidly about military operations, told Reuters earlier. The Islamic Revolutionary Guard Corps said it had targeted the US base responsible for an early-morning attack near Bandar Abbas airport and that any repeat would lead to a “more decisive response”, Tasnim news agency reported. To Page 11 Kuwait condemned the attack and demanded that Iran immediately halt what it called a serious escalation. The violence, the second flare-up this week, coincided with Eid al-Adha celebrated across the region, where multiple countries have been caught up in the conflict triggered by US and Israeli attacks on Iran on February 28. Mediator Pakistan said its foreign minister, Ishaq Dar, would meet US Secretary of State Marco Rubio in Washington today, although the significance of his visit was unclear.The US warned Oman yesterday not to get involved in any effort to impose a toll in the Strait of Hormuz, saying it will penalise any partners involved in such a system. “Oman, in particular, should know that the US Treasury will aggressively target any actors involved – directly or indirectly – in facilitating tolls for the Strait and any willing partners will be penalised,” Treasury Secretary Scott Bessent said on X. Trump said that no single country would have control over the waterway, and appeared to threaten Oman, with which the US has decades-long military and economic ties. “It’s international waters, and Oman will behave just like everybody else or we’ll have to blow them up. They understand that, they’ll be fine,” he said on Wednesday.Oman has not mentioned the idea of joint control of the strait with Iran, with which it says it has discussed freedom of navigation. Tehran expressed solidarity with Oman after what it called “US officials’ threats”. Source link
His Highness the Amir Sheikh Tamim bin Hamad al-Thani received a phone call from US President Donald Trump. They discussed the latest updates in the Middle East, in light of the political and security developments taking place in the region, along with the regional and international efforts aimed at reducing escalation and enhancing stability. The Amir stressed the need to prioritise political and diplomatic solutions and dialogue between all parties in order to consolidate regional security and stability and spare the region further tension and escalation.The US president voiced his appreciation for Qatar’s role in supporting Pakistani mediation efforts and strengthening communication channels between the various parties. He also commended Qatar’s endeavour aimed at bringing viewpoints closer and advancing de-escalation efforts in the region. Yesterday’s call was the latest in a series of direct contacts between the two leaders in recent weeks, reflecting the growing importance Washington attaches to Doha’s mediation role at a critical juncture for regional security. Qatar has consistently maintained that dialogue and diplomacy represent the only viable path to resolving the region’s overlapping crises, a position His Highness the Amir has reaffirmed in successive engagements with world leaders. Doha has played a central back-channel role in ongoing efforts to broker a diplomatic resolution to tensions over Iran’s nuclear programme, leveraging its long-standing ties with all parties to keep lines of communication open. The call also addressed the close strategic relations between Qatar and the US, along with ways to enhance bilateral co-operation in various fields, in order to serve the common interests of the two friendly countries. Related Story Source link
In an atmosphere of deep reverence and unity, the Embassy of the Republic of Indonesia (KBRI) in Doha, in collaboration with the Indonesian Muslim Society in Qatar (IMSQA), once again organised Eid al-Adha prayers in Doha.The spiritually significant gathering drew approximately 1,000 Indonesian nationals residing in Qatar. The strong turnout reflected the enthusiasm of the Indonesian community, with worshippers travelling from various parts of the country to collectively observe one of the most important occasions in the Islamic calendar. The Eid gathering was organised to foster harmony and solidarity among worshippers within the Indonesian community in Qatar. The Ambassador of the Republic of Indonesia to Qatar expressed sincere appreciation and gratitude to all parties whose support contributed to the successful organisation of the event. Special thanks were extended to Qatar’s Ministry of Foreign Affairs, Ministry of Education and Higher Education, Ministry of Endowments and Islamic Affairs, and Tariq Bin Ziyad School for providing the facilities and assistance necessary to ensure the prayers were conducted in an orderly and solemn manner.The ambassador also conveyed heartfelt gratitude to members of the Indonesian community in Qatar for their enthusiastic participation. He noted that moments of collective worship not only strengthen bonds among Indonesians living abroad, but also offer comfort and a sense of home to members of the diaspora.IMSQA stated that the Eid prayer gathering was organised to foster harmony and solidarity among worshippers, particularly within the Indonesian community in Qatar. The organisation expressed hope that the spirit of Eid al-Adha would continue to inspire peace, unity, and mutual support among Indonesian Muslims in the country.The Eid al-Adha prayers concluded with a warm gathering among members of the Indonesian community, providing an opportunity for attendees to reconnect, exchange greetings, and strengthen the spirit of brotherhood and solidarity while living overseas.The Indonesian Embassy in Doha expressed hope that the spirit of unity and devotion fostered during the Eid celebration would continue to strengthen the Indonesian community in Qatar and further reflect the enduring friendship between Indonesia and Qatar. Source link
IndiGo cuts around 7%-10%, Air India 22% of June-July planned domestic flights; Air India cites high jet fuel prices for temporary domestic route reductions; reductions highlight Indian aviation’s vulnerability to external shocks despite market growthIndiGo and Air India, India’s two largest airlines, have sharply cut their planned domestic flights for June and July, sources familiar with the matter said, as the industry grapples with a rise in jet fuel costs in the wake of the Iran war.IndiGo has cut around 7%-10% of its planned domestic flights for the period, while Air India has cut 22%, the sources said, marking a significant pullback by the two carriers that together control around 90% of India’s domestic air passenger market.The sources declined to be named as they were not authorised to share the information.The cuts could tighten seat availability on some domestic routes and keep fares elevated during the busy summer travel period, even as airlines try to avoid flying loss-making services.The Iran war-driven surge in jet fuel prices has blindsided the aviation industry. Fuel can account for up to 40% of airlines’ operating expenses, forcing them to raise fares and cut unprofitable flights.Air India said in a statement that it had “temporarily rationalised operations on certain domestic routes” between June and August.”These adjustments are driven by the sustained impact of high fuel prices on overall operations. Air India will continue to monitor demand and operating conditions closely, with a view to restoring frequencies as conditions stabilise,” a spokesperson for the airline added.Passengers affected by the changes would be offered places on alternative flights, complimentary date changes or full refunds, the spokesperson added.IndiGo did not immediately respond to an emailed request for comment. The airline operates over 2,200 daily flights, including international.Air India’s cuts follow reductions to its international routes, which have created room for foreign airlines to add more flights to and from India. IndiGo had cut some long-haul flights prior to the war, citing operational constraints and airport congestion.The reductions also underscore the vulnerability of India’s fast-growing aviation market to external shocks, even as carriers are set to receive new jets in the coming years. Air India recently logged a record annual loss of more than $2bn, also battered by Pakistan’s ban on Indian carriers from its airspace and a strong US dollar. The airline is owned by the Tata Group and Singapore Airlines. Source link