File photo: Iran's Governor to the International Atomic Energy Agency (IAEA), Kazem Gharib Abadi. AP
File photo: Iran's Governor to the International Atomic Energy Agency (IAEA), Kazem Gharib Abadi. AP
File photo: Iran's Governor to the International Atomic Energy Agency (IAEA), Kazem Gharib Abadi. AP
File photo: Iran's Governor to the International Atomic Energy Agency (IAEA), Kazem Gharib Abadi. AP

Iran slams UN nuclear body's 'counter-productive' report


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Iran on Thursday accused the UN nuclear agency of "a counter-productive approach" after its chief said Tehran had not clarified queries over possible undeclared nuclear activity.

Last week, the International Atomic Energy Agency voiced concern in a report to its members that Iran had not clarified the long-outstanding queries.

The regular report came at a delicate time when world powers were meeting to bring the US back to the Iran nuclear deal and Tehran back into compliance.

The 2015 accord has been hanging by a thread since the US left it in 2018 and reimposed sanctions, leading to Tehran to increase nuclear activities long curtailed by the deal.

Iranian ambassador Kazem Gharib Abadi told the IAEA's board of governors' meeting that the latest agency report is "not credible" and "deeply disappointing".

Iran insists it is co-operating with the IAEA as it seeks clarity on undeclared Iranian sites where nuclear activity may have taken place, mostly in the early 2000s.

"The secretariat has taken a counterproductive approach at the expense of its own credibility," Mr Abadi said.

He said this "could turn into an obstacle for future good-will interactions between the two sides".

IAEA Director General Rafael Grossi said on Monday that it was "becoming increasingly difficult" to extend a temporary inspections arrangement with Iran.

In February, Tehran suspended some IAEA inspections, leading the agency to negotiate continued but reduced access.

The latest understanding runs out on June 24.

A statement by France, Germany and the UK to the board of governors on Wednesday supported the IAEA's work.

"In limiting IAEA access, Iran makes it harder for the international community to assure themselves that Iran's activities remain exclusively peaceful," it said.

In a statement to the board, the US also urged Tehran to "fully co-operate".

Negotiations are expected to resume in two luxury Vienna hotels on Saturday to revive the 2015 accord, diplomats said.

Representatives from Britain, China, France, Germany, Russia and Iran, all party to the deal, have been meeting since early April.

Negotiators from the US are also taking part indirectly in the EU-chaired discussions.

Diplomats are hoping to conclude the negotiations before Iran's presidential election on June 18.

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The specs: 2019 Haval H6

Price, base: Dh69,900

Engine: 2.0-litre turbocharged four-cylinder

Transmission: Seven-speed automatic

Power: 197hp @ 5,500rpm

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Fuel economy, combined: 7.0L / 100km

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Starring: Josh Hartnett, Saleka Shyamalan, Ariel Donaghue

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The National's picks

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First ODI, October 22
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Second ODI, October 25
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Third ODI, October 29
Venue TBC

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Engine: 6.5-litre V12

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UAE currency: the story behind the money in your pockets
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Liverpool's all-time goalscorers

Ian Rush 346
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Guide to intelligent investing
Investing success often hinges on discipline and perspective. As markets fluctuate, remember these guiding principles:
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How Filipinos in the UAE invest

A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.

Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).

Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.

The five pillars of Islam
How to get exposure to gold

Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.

A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.

Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.

Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.

London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long

However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.

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Milestones on the road to union

1970

October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar. 

December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.

1971

March 1:  Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.

July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.

July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.

August 6:  The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.

August 15: Bahrain becomes independent.

September 3: Qatar becomes independent.

November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.

November 29:  At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.

November 30: Despite  a power sharing agreement, Tehran takes full control of Abu Musa. 

November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties

December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.

December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.

December 9: UAE joins the United Nations.

In numbers: PKK’s money network in Europe

Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010

Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille

Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm

Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year

Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”

Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners

TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013 

UPI facts

More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions

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- Three wins in past 10 starts
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- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

UAE currency: the story behind the money in your pockets
Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers