Iran was in talks with the US over its nuclear programme last month when Israel launched a war against it, joined by Washington shortly thereafter. With hostilities now on pause, the spectre of negotiations has returned.
We are likely to soon see another round of negotiations between the two countries, once again led by Iranian Foreign Minister Abbas Araghchi and US Middle East envoy Steve Witkoff. According to Axios, talks might take place in Oslo this time.
Israel’s attacks, followed by US strikes on Iran’s nuclear facilities, just ahead of the sixth round of talks were scheduled in Muscat. The global consensus before the assault had been that US President Donald Trump was determined to take the diplomatic route to resolve the question mark over Iran’s nuclear programme. Following the strikes, however, many Iranians are wary of returning to the talks, worried that the US or Israel might attack again even as the negotiations are under way. Some believe Tehran should secure a guarantee that no military hostilities will take place while the talks are on.
Iran’s initial reaction to the attacks was to withdraw from its talks with the US. Mr Araghchi and other Iranian officials have since spoken dismissively of the possibility of a return to diplomacy. But knowing full well that there is no alternative to engagement, if it wants to avoid another war, Tehran is trying to find a way back to the negotiating table. Washington, meanwhile, has issued new sanctions against Iranian oil exports – another reminder from Mr Trump that he is ready to tighten the screws again.
There is a narrative war on who wants the next round of talks to take place. On Monday, after having dinner at the White House with Israeli Prime Minister Benjamin Netanyahu, Mr Trump said Iran was the party seeking negotiations. “They want to talk,” he said. “They want to work something out. They are very different now than they were two weeks ago.”
The following day, Tehran denied it had reached out to Washington for talks. Iranian Foreign Ministry spokesman Esmaeil Baghaei said no such request had been sent. On the same day, Iran’s semi-official Mehr News Agency cited “credible sources” in Tehran claiming that it was the US that sought a return to negotiations and that Iran was mulling over its response.
Iran is understandably wary of confirming Mr Trump’s narrative that it has been weakened so considerably by the war that it now sees no way out other than to talk. But look more closely and it’s clear that Tehran is indeed eager to engage again.
Iranian President Masoud Pezeshkian recently gave a much-discussed interview to the prominent American journalist Tucker Carlson.
Carlson is a favourite of Mr Trump, but his vociferous opposition to any Iran-US conflict has led to rebukes from the President. Mr Pezeshkian used Carlson’s prominent platform to portray his government’s stated emphasis on peace and diplomacy, saying that Tehran would have “no problem” in restarting the diplomatic process.
The Iranian President also appears to have attempted to drive a wedge between Mr Trump and Mr Netanyahu, suggesting that it was the latter who had dragged the US into the conflict and that Mr Trump now has a chance of breaking from him.
Mr Pezeshkian has since come under attack from hardliners in Tehran for being too soft on the US during the interview. But many others in the country have defended him.
Mr Araghchi himself took a similar line in an opinion article for the Financial Times. Blaming Israel for its “sabotage” of the diplomatic process, he expressed doubts over Washington’s intentions but also left the door open for talks to resume. By attacking the previous US administration under Joe Biden while at the same time lauding his talks with Mr Witkoff, he also attempted to echo Mr Trump’s favourite themes and curry favour with him. It’s a strategy that might increase the chances of diplomatic success.
For his part, Mr Trump is once again enticing Iran back to the negotiating table with promises to lift sanctions that have crippled their economy. “I would love to be able to, at the right time, take those sanctions off,” he said recently.
In a recent post on Truth Social, the US President also said that he had been working to lift some of the sanctions but changed his mind because of a speech by supreme leader Ayatollah Ali Khamenei in which he claimed “victory” in the war with Israel. Such economic carrots from Mr Trump would surely help return Tehran to the table. Iran’s leadership will have noticed how swiftly Mr Trump acted to lift sanctions on Syria. The US President could be serious about doing the same with Iran.
The alternatives to negotiations are all too clear. Israel’s Minister of Strategic Affairs, Ron Dermer, was in Washington last week, reportedly seeking US support for Israel to launch attacks on Iran again.
Tehran, meanwhile, has taken disconcerting steps on its nuclear programme. It has suspended co-operation with the UN’s nuclear watchdog, the International Atomic Energy Agency, which led to inspectors leaving the country. Iran also continues to take a harsh line against IAEA director general Rafael Grossi. When Mr Grossi asked to visit the nuclear sites bombed by Israel and the US, his request was met with a defiant response from Mr Araghchi who called the Argentine diplomat’s request “meaningless and possibly even malign in intent”.
Iran’s ushering out of IAEA inspectors could herald a new era of so-called “nuclear ambiguity” in which Tehran works on its programme covertly. This would almost certainly spark another round of military hostilities involving Israel and the US. Both Iran and the US, therefore, have real incentives to want diplomacy to succeed.
However, it remains to be seen if they can find a deal that is acceptable to both parties as well as to Israel. In Mr Araghchi’s narrative, Iran and the US were on the verge of a historic deal when Israel disrupted the talks. But Israel would argue that there were major stumbling blocks in the negotiations that justified its military action. Most importantly, Iran continues to insist on enriching uranium on its own soil, while the US has often treated this condition as a red line that it won’t cross.
Be that as it may, Iranian diplomats are likely to use any future talks with the US to offer enough incentives to get a deal with Mr Trump. Like many others around the world, they too are trying to understand how the US President thinks and respond appropriately.
COMPANY PROFILE
Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed
Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
KEY HIGHLIGHTS
Healthcare spending to double to $2.2 trillion rupees
Launched a 641billion-rupee federal health scheme
Allotted 200 billion rupees for the recapitalisation of state-run banks
Around 1.75 trillion rupees allotted for privatisation and stake sales in state-owned assets
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
THREE
%3Cp%3EDirector%3A%20Nayla%20Al%20Khaja%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Jefferson%20Hall%2C%20Faten%20Ahmed%2C%20Noura%20Alabed%2C%20Saud%20Alzarooni%3C%2Fp%3E%0A%3Cp%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
UAE currency: the story behind the money in your pockets
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
New UK refugee system
- A new “core protection” for refugees moving from permanent to a more basic, temporary protection
- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
MATCH INFO
England 2
Cahill (3'), Kane (39')
Nigeria 1
Iwobi (47')
Company%20profile
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Yabi%20by%20Souqalmal%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EMay%202022%2C%20launched%20June%202023%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EAmbareen%20Musa%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInitial%20investment%3A%20u%3C%2Fstrong%3Endisclosed%20but%20soon%20to%20be%20announced%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ENumber%20of%20staff%3A%20%3C%2Fstrong%3E12%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3Eseed%C2%A0%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EShuaa%20Capital%3C%2Fp%3E%0A
Record breaker
- The most total field goals made in NBA history, as well as the most consecutive games scoring 10 or more points
- The only player in NBA history to reach 10,000 rebounds and 10,000 assists
- Four-time regular season MVP and four-time NBA Finals MVP
- Six-time NBA All-Defensive selection. Rookie of the Year in 2004
- The most All-NBA selections with 21 in a row, including a record 13 first team selections
- The most consecutive All-Star selections with 21
- The only player to play alongside his son; Bronny James was chosen by the Lakers in the 2024 NBA draft
