Indian foreign minister meets China's Xi
Russia's Lavrov meets with China's President Xi, Russia says
'Apprised President Xi of the recent development of our bilateral ties,' Jaishankar said in a post on X, accompanied by a picture of him shaking hands with Xi.
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Express Tribune
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IIOJK ‘strongman' faces calls for resignation
Listen to article Calls for accountability and resignation of Delhi-appointed lieutenant governor of Indian Illegally Occupied Jammu and Kashmir (IIOJK) grew on Tuesday after he admitted security failure in the April 22 Pahalgam attack that took India and Pakistan to a four-day military confrontation in May. The main opposition parties in the Indian parliament, as well as the ruling party in IIOJK, demanded that the occupied territory's Lieutenant Governor and Bharatiya Janata Party (BJP) leader Manoj Sinha immediately resign and apologise to the people. In a media interview on Monday, Sinha admitted that the Pahalgam attack that took the lives of 26 tourists, was a security lapse and that he took full responsibility for that. 'I take full responsibility for the incident, which was undoubtedly a security failure,' he said. Read More: Pak set to bar hockey team from India events In response to his admission, numerous Indian politicians slammed Sinha for negligence and for his delay in taking accountability. According to a media report, they alleged that Sinha intended to shield 'unspecified officials' in Prime Minister Narendra Modi's government. He [Sinha] finally takes responsibility for Pahalgam after 82 days of the attack. In doing so, who is he protecting in Delhi? How many days, weeks, months to also be held accountable and resign or get sacked?' Pawan Khera, a spokesperson for the main opposition Congress party, said in a post on X. Also Read: Tesla launches Model Y in India at $70,000 amid high import tariffs 'Since [Sinha] has taken full responsibility for the security lapse during the Pahalgam attack — when is he resigning? In a democracy, the next step after taking the responsibility is resignation!' said Shama Mohamed, the national spokesperson for Congress. According to Kashmir Media Service, Imran Nabi Dar, a spokesperson for IIOJK ruling party, the National Conference (NC) that the next logical step for SInha 'should be to step down and apologise to the people of J&K whose lives, livelihood and dignity were put at stake due to his blunders'. Separately, a local leader of the Communist Party of India-Marxist (CPI-M) Mohammad Yousuf Tarigami demanded accountability of the Indian government over the Pahalgam attack. 'The government must come out with details about the lapses that resulted in the killing of 26 civilians,' he said.
Business Recorder
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Oil eases as Trump's 50-day deadline for Russia reduces supply fears
NEW YORK: Oil prices edged lower on Tuesday after U.S. President Donald Trump's 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased concerns about any immediate supply disruption. Brent crude futures were down 15 cents at $69.06 a barrel by 10:54 a.m.. U.S. West Texas Intermediate crude futures were down 30 cents at $66.68. 'The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days,' said UBS commodities analyst Giovanni Staunovo. 'Those fears about an imminent additional tightness in the market have dissipated. That's the main story.' Oil prices had climbed on the potential sanctions but later gave up gains as the 50-day deadline raised hopes that sanctions could be avoided. Oil steadies near three-week high on signs of tighter supply In the event the proposed sanctions are implemented, 'it would drastically change the outlook for the oil market,' analysts at ING said in a note on Tuesday. 'China, India and Turkey are the largest buyers of Russian crude oil. They would need to weigh the benefits of buying discounted Russian crude oil against the cost of their exports to the U.S.,' the ING note said. Trump announced new weapons for Ukraine on Monday and had said on Saturday that he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries. Tariffs raise the risk of slower economic growth, which could reduce global fuel demand and drag oil prices lower. China's economy slowed in the second quarter, data showed on Tuesday, with markets bracing for a weaker second half as exports lose momentum, prices continue to fall and consumer confidence remains low. Tony Sycamore, an analyst at IG, said economic growth in China came in above consensus, largely because of strong fiscal support and the front-loading of production and exports to beat U.S. tariffs. 'The Chinese economic data was supportive overnight,' said Phil Flynn, senior analyst with Price Futures Group. Elsewhere, oil demand is set to remain 'very strong' through the third quarter, keeping the market balanced in the near term, the Organization of the Petroleum Exporting Countries' secretary general said, according to a Russian media report.
Business Recorder
8 hours ago
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Oil holds steady as Trump's 50-day deadline for Russia eases supply fears
Oil prices were little changed on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Brent crude futures were up a marginal 3 cents at $69.24 a barrel by 1313 GMT. U.S. West Texas Intermediate crude futures were down 7 cents at $66.90. 'The focus has been on Donald Trump. There was some fear he might target Russia with sanctions immediately and now he has given another 50 days,' said UBS commodities analyst Giovanni Staunovo. 'Those fears about an imminent additional tightness in the market have dissipated. That's the main story.' Oil prices had climbed on the potential sanctions but later gave up gains as the 50-day deadline raised hopes that sanctions could be avoided. If Trump does follow through and the proposed sanctions are implemented, 'it would drastically change the outlook for the oil market', analysts at ING said in a note on Tuesday. Oil steadies near three-week high on signs of tighter supply 'China, India and Turkey are the largest buyers of Russian crude oil. They would need to weigh the benefits of buying discounted Russian crude oil against the cost of their exports to the U.S.,' the ING note said. Trump announced new weapons for Ukraine on Monday and had said on Saturday that he would impose a 30% tariff on most imports from the European Union and Mexico from August 1, adding to similar warnings for other countries. Tariffs raise the risk of slower economic growth, which could reduce global fuel demand and drag oil prices lower. China's economy slowed in the second quarter, data showed on Tuesday, with markets bracing for a weaker second half as exports lose momentum, prices continue to fall and consumer confidence remains low. Tony Sycamore, an analyst at IG, said economic growth in China came in above consensus, largely because of strong fiscal support and the front-loading of production and exports to beat U.S. tariffs. 'Today's tepid Chinese data has direct implications for commodities including iron ore and crude oil,' he said. Elsewhere, oil demand is set to remain 'very strong' through the third quarter, keeping the market balanced in the near term, the Organization of Petroleum Exporting Countries' secretary general said, according to a Russian media report.
