Foreign Minister holds phone call with Indonesian counterpart
Muscat: Sayyid Badr bin Hamad Al Busaidi, Foreign Minister held a telephone conversation on Wednesday with Sugiono, Foreign Minister of the Republic of Indonesia.
The two ministers reviewed the relations of cooperation between their countries and explored ways to enhance them across various fields of mutual interest.
The discussion also addressed recent developments in the Middle East, with both ministers emphasizing the importance of supporting international and regional efforts to de-escalate tensions, promote calm, and maintain regional and international peace and security in accordance with the principles of international law and the United Nations Charter.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Times of Oman
an hour ago
- Times of Oman
S&P Global warns geopolitical tensions may hit global oil demand
New Delhi: The latest report by S&P Global highlights that geopolitical tensions and shifting trade policies could potentially have a negative impact on the global oil demand. Premasish Das, Executive Director for Oil Markets Research, noted that geopolitical tensions and shifting trade policies, including U.S. tariffs, are slowing global growth, potentially reducing oil demand. China and the U.S. will see the biggest drop in refined fuel consumption. Despite this, India is expected to lead global oil demand growth, making diversification of crude imports a strategic necessity. Additionally, OPEC+ recently raised oil output by 411,000 b/d, triggering a 20% drop in Brent crude prices. At the same time, conflict between Iran and Israel briefly pushed prices above $80/b. The average oil price for 2025 is now forecasted at $68/b, though increased supply could bring it below $60/b by year-end. On the Indian side, the country's trade influence is also growing. Rahul Kapoor, Global Head of Shipping Research, highlighted India's reduced reliance on the Strait of Hormuz, down from 55% in 2019-2022 to 41% in 2024, due to rising Russian crude imports. He stressed that global trade strategy must now consider geopolitical risks and supply chain reconfiguration, placing India at a strategic advantage. On energy transition, Eduard Sala de Vedruna emphasized India's push to reach 500 GW of renewable energy capacity by 2030, though S&P expects the target to be met by 2032. The current capacity has surpassed 200 GW. While challenges like infrastructure and regulatory hurdles remain, government support and private investment are accelerating progress. Jenny Yang, Head of Power and Renewables Research, projected an 80% global rise in power demand by 2050. In India, non-fossil fuels are expected to make up 77% of power capacity by then.
Times of Oman
3 hours ago
- Times of Oman
United States surpasses China to become Taiwan's top export destination
Taipei: The United States surpassing China as Taiwan's top export destination could stimulate long-term industrial development and wage growth, given the strength of the US economy, said Chiou Jiunn-rong, an economics professor at National Central University, Focus Taiwan reported. Chiou's comments came after Taiwan's Ministry of Finance announced that exports hit a record USD 51.74 billion in May, fueled by surging global demand for artificial intelligence (AI) products. Information and communication technology (ICT), along with the audio/video sectors, led the growth. According to Focus Taiwan, the US accounted for 30 per cent of Taiwan's total exports in May, overtaking China and Hong Kong, which together made up 27.2 per cent. This shift marks a significant departure from Taiwan's previous export structure, which once saw over 40 per cent of exports sent to China. Chiou noted that such concentration raised economic and geopolitical risks. With global supply chains adjusting and US-China tensions rising, Taiwan's pivot toward the U.S. market reflects broader economic realignment, Focus Taiwan reported. Chiou emphasised that exporting to a high-income country like the US brings distinct advantages, including access to more lucrative markets and stronger demand for advanced goods. He contrasted this with the economic vulnerabilities Taiwan faced when deepening trade ties with China under the 2010 Economic Cooperation Framework Agreement (ECFA), which sparked fears of wage suppression and job losses due to "factor price equalisation." While the export surge is encouraging, Chiou cautioned that Taiwan should not become overly reliant on any one market, especially given the unpredictability of US trade policy under US President Donald Trump. Diversification remains essential, Focus Taiwan quoted him as saying.
Times of Oman
21 hours ago
- Times of Oman
"I am not offering Iran anything": Trump denies nuclear deal talks
Washington: US President Donald Trump has denied engaging in any talks with Iran or offering them concessions. In a late-night post on Truth Social, Trump stated, "I am not offering Iran ANYTHING, unlike Obama, who paid them $Billions under the stupid 'road to a nuclear weapon JCPOA (which would now be expired!), nor am I even talking to them since we totally OBLITERATED their Nuclear Facilities." On Friday, Trump also refuted media reports suggesting that his administration had explored the possibility of allowing Iran access to up to $30 billion for a civilian nuclear energy programme. In response to the ongoing tensions, Iranian Foreign Minister Seyed Abbas Araghchi said on Saturday that President Donald Trump should put aside the "disrespectful tone" towards Iran's Supreme Leader Khamenei if the US wants to have a deal with Iran. Underscoring that Iran does not take it kindly to threats and insults, Aragchi said that Iran would not hesitate to unveil its real capabilities. "The complexity and tenacity of Iranians are famously known in our magnificent carpets, woven through countless hours of hard work and patience. But as a people, our basic premise is very simple and straightforward: we know our worth, value our independence, and never allow anyone else to decide our destiny," Iranian Foreign Minister wrote on X. He added, "If President Trump is genuine about wanting a deal, he should put aside the disrespectful and unacceptable tone towards Iran's Supreme Leader, Grand Ayatollah Khamenei, and stop hurting his millions of heartfelt followers." "The Great and Powerful Iranian People, who showed the world that the Israeli regime had NO CHOICE but to RUN to "Daddy" to avoid being flattened by our Missiles, do not take kindly to Threats and Insults. If Illusions lead to worse mistakes, Iran will not hesitate to unveil its Real Capabilities, which will certainly END any Delusion about the Power of Iran", the post further mentioned. He concluded his remarks by saying, "Good will begets good will, and respect begets respect." The remarks by the Iranian Foreign Minister come amid the backdrop of the US hinting towards talks with Iran. White House Press Secretary Karoline Leavitt on Thursday (US local time) had said the Trump administration is focused on diplomacy and peace, adding that the US continues to remain in close communication with the Iranians. Addressing a press briefing, Leavitt said, "I spoke to our special envoy Witkoff at length this morning and I can assure all of you we continue to be in close communication with the Iranians and through our intermediaries as well, namely the Qataris, who have been an incredible ally and partner throughout this entire effort. As I said, this administration is always focused on diplomacy and peace, and we want to ensure we can get to a place where Iran agrees to a non-enrichment civil nuclear program." Her remarks follow after the US had conducted precision strikes on three Iranian nuclear sites under Operation 'Midnight Hammer'.
