Iran's nuclear programme has been a concern for years. Reuters
Iran's nuclear programme has been a concern for years. Reuters
Iran's nuclear programme has been a concern for years. Reuters
Iran's nuclear programme has been a concern for years. Reuters


The West might not be ready for a new Iran deal


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August 17, 2022

The first Iran nuclear deal, signed in 2015, took former US president Donald Trump very little time to withdraw from three years later. The agreement’s supporters decried the move as a rash attack on years of careful diplomacy that had made the world safer. Iran claimed it was proof the US was a destabilising, untrustworthy partner, a narrative its regime has been pushing since the 1979 revolution, and that it fundamentally changed the calculus of its geopolitical situation.

Quick to end, it has taken far longer get a revised version off the ground. If the first deal was so groundbreaking, it begs the question why has a new one not come about sooner? There are many reasons – a lack of trust is definitely there – but it also suits powerful factions in Iran to kick the can down the road for as long as possible.

That might be about to end. While the process is not yet finished, all signs point to the negotiations entering a critical phase in the next few days and weeks that could result in a new deal.

On Monday, Iran sent its response to a "final" draft text submitted by the EU. It has taken 16 months of indirect US-Iranian talks, with the EU mediating, to get this far. The US has said it will share its opinion on the document "privately". Iran says that its "additional views and considerations" to the text would be conveyed later.

Tehran has also encouraged the US to show flexibility on remaining sticking points. The country's foreign minister, Hossein Amirabdollahian said: "Specifically, there are three issues … if these three issues are resolved, we can reach an agreement." He did not say what they were.

They are, however, widely believed to be Iran's anger at an International Atomic Energy Agency investigation into traces of uranium at sites in the country, a lack of guarantees that the US would not again walk away from a deal and the future of how the west labels and sanctions the Islamic Revolutionary Guard Corps.

The nuclear containment of Iran is an issue of global importance, one that the previous deal managed to some degree. What it did not do was contain the destabilising effect of the IRGC in the Middle East, which the group exercised through its wide network of militias and proxy groups in the region.

However tempting a deal might be, the allies of Arab states at the negotiating table must not cede ground on the important issue of containing Iran's strategy of consolidating its regional power by sowing instability. Managing the IRGC is an integral part of achieving this.

Engaging with the issue would also make the West safer. Intelligence officials are reported to have said that Hadi Matar, the man accused of stabbing author Salman Rushdie at a recent event in the US, had contact with the IRGC. In July, the FBI said that Tehran had hatched a plan to kidnap Iranian-American activist Masih Alinejad from her home in Brooklyn. Last Wednesday, the US Justice Department charged a member of the IRGC for being part of a plot to kill former American national security adviser John Bolton and secretary of state Mike Pompeo.

Iran is keen to stress it is not reliant on a deal. Mr Amirabdollahian has said that Tehran has a "plan B". But a better deal than the last makes the world safer. That includes Iran. The country has much to gain from re-entering the international fold. It has much to lose, as do its neighbours, if it chooses yet more isolation in the critical days ahead.

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The more serious side of specialty coffee

While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.

The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.

Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”

One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.

Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms. 

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MATCH INFO

Champions League quarter-final, first leg

Ajax v Juventus, Wednesday, 11pm (UAE)

Match on BeIN Sports

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Director: Jafar Panahi

Stars: Vahid Mobasseri, Mariam Afshari, Ebrahim Azizi, Hadis Pakbaten, Majid Panahi, Mohamad Ali Elyasmehr

Rating: 4/5

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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

What is an ETF?

An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.

There is no fund manager deciding which stocks and other assets to invest in, instead they passively track their chosen index, country, region or commodity, regardless of whether it goes up or down.

The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.

There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.

While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash. 

Updated: August 17, 2022, 3:00 AM`