Author: Aadam Galla

Indonesian Finance Minister Sri Mulyani Indrawati said that the escalating geopolitical tensions in the Middle East have garnered the attention of global leaders, and have several significant economic implications. “We still hope that both parties will steer clear of open war. However, we must be aware of these tensions,” Sri said at a press conference on the State Budget (APBN) in Central Jakarta on Friday, April 26. The state treasurer elaborated that the escalation has resulted in a surge in oil prices, with global crude oil prices momentarily exceeding US$90 per barrel, before correcting to the current level of US$88 per barrel. On a year-to-date (ytd) basis, she said, the increase…

UK MP Layla Moran says her relatives are among hundreds of civilians trapped in a Catholic Church in Gaza City as Israeli forces operate nearby. The Liberal Democrat says her family are “days away from dying” without access to water or food. The Latin Patriarchate of Jerusalem say a mother and daughter were killed inside the Holy Family Church complex on Saturday by sniper fire. The IDF said it found no evidence to show the incident took place. In a statement, the Israel Defense Forces said: “During the dialogue between the IDF and representatives of the community, no reports of…

Eid Haddad’s parents were teenagers when they witnessed the full force of Britain’s presence in Palestine in 1938. “They saw the troops coming in and attacking people. My father told me that one of the men was hit on his head with a wooden hammer used to mince meat called [in Arabic] a modakah, and he died,” says Mr Haddad. “A man and his son were hanging tobacco leaves to dry them. They were just shot in the back.” “It was chaos,” he says. His parents lived in al-Bassa, a Palestinian village subjected to collective punishment by British forces, who…

Ireland, on Monday, called for an extension of the Gaza truce, underlining that civilians in the besieged strip “cannot be allowed to suffer any further”, Anadolu Agency reports. Foreign Minister, Michael Martin, in a statement, urged all parties to “build on the important steps that have been taken – the cessation of hostilities, the delivery of vital aid and the release of some hostages-and extend and expand this truce,” as the last four days of a limited truce in Gaza have seen the release of some hostages and the delivery of increased humanitarian assistance. Martin said. “Gaza’s civilian population cannot be allowed…

Toxic pollutants released during gas flaring are endangering millions more people than previously feared, a BBC investigation suggests. Flaring – the burning of waste gas during oil drilling – is taking place across the Gulf, including by COP28 hosts the United Arab Emirates. New research suggests pollution is spreading hundreds of miles, worsening air quality across the entire region. It comes as the UAE hosts the UN’s COP28 climate summit on Thursday. The UAE banned routine flaring 20 years ago, but satellite images show it is continuing, despite the potential health consequences for its inhabitants and those in neighbouring countries.…

The newly created Oxus Acquisition Corp is a next step for Kenes Rakishev to acquire companies specialized in the red-hot area of energy transition, batteries and EV’s. Kenes Rakishev, who is heavily involved in the modern tech investment scene rolls out his strategy to acquire more assets. Oxus Acquisition Corp, created by Kazakh businessman Kenes Rakishev, wants to raise $ 150 million to acquire a company specializing in technologies in the field of «energy transfer». The prospectus of the IPO of Oxus Acquisition, which plans to get a listing on NASDAQ, was published on the website of the US Securities and Exchange…

The US House of Representatives, on Tuesday, passed a bill aimed at toughening sanctions on top Iranian officials, Anadolu Agency reports. The bill was passed overwhelmingly, by a vote of 410-3. To become law, it also needs Senate approval and the signature of President Joe Biden. “We have many sanction laws designed to address Iran’s regime’s human rights violations; however, it is clear that many officials and institutions in Iran have not yet been sanctioned for their role in these abuses,” said Representative Michael McCaul, a Republican and Chairman of the House Foreign Affairs Committee. McCaul also criticised what he called the…

Hamas spokesperson, Jihad Taha, said Israel’s plans to increase the number of settlers in the northern occupied West Bank to one million indicates the ongoing Zionist policy of confiscating Palestinian land and erasing the Palestinian national identity. Taha told Quds Press yesterday that the systematic policy pursued by the “racist Israeli government” led by Prime Minister, Benjamin Netanyahu, to annex Palestinian land and legitimise illegal settlements will not succeed in changing the national identity of the Palestinians, thanks to the steadfastness and will of the Palestinian people and their valiant resistance Taha warned against these Zionist steps, calling on the international community to “bear…

Saudi Arabia, UAE look to balance relations between east and west, while Iran, Egypt look to benefit financially. In an era of emerging multipolarity, the BRICS group’s move to expand its membership should come as little surprise – with the Middle East and North Africa (MENA) region not exempt from a possible changing world order. BRICS is made up of Brazil, Russia, India, China and South Africa, and is seen as a counterweight to the G7 (Canada, France, Germany, Italy, Japan, the United Kingdom and the United States). Four of the six BRICS invitations, which came on Thursday during the finale of the…

Today the Foreign Affairs Committee launches a new inquiry into the UK’s engagement with the Middle East and North Africa (MENA). The UK has a long history of involvement in the Middle East and North Africa. While there are positive opportunities for the UK to engage with MENA countries, it is a region that also faces significant challenges. Threats to stability in the region include geopolitical rivalries, climate change and internal socio-political complexities. This inquiry will examine the main medium and long-term challenges facing countries in the Middle East and North Africa. It will ask whether there are key countries…