Policymakers, industry leaders and think tanks from around the world convened in India this week for the Raisina Dialogue 2025, engaging in discussions to navigate a rapidly evolving world.
At a time when old power structures are increasingly being challenged, a key question frequently came up: What will the emerging world order look like, and who will shape it?
The consensus was clear – the old order is fading, and a new one is taking shape, one that is more fragmented, competitive and formed by forces beyond the traditional centres of power, in a shift that requires abandoning old assumptions and embracing a more adaptive, inclusive approach.
“We do need an international order just like we need a domestic order,” said Dr S Jaishankar, India's Minister of External Affairs. “And it’s not just big countries that will benefit from this new order. I would argue that any country willing to take risks … will actually use this order to its advantage.”
With the inward-focused US pursuing unilateral strategies, Europe faces a pivotal moment in redefining its global role. The shifting security landscape and uncertainty surrounding Washington’s long-term commitments have compelled European nations to invest more in defence, military capabilities, technology and infrastructure to strengthen their influence.
European officials stressed that while the continent remains resilient, greater efforts are needed to bolster security and defence, reinforcing that Ukraine’s stability is central to European security.
“There will be no compromises on Ukraine’s territory and sovereignty. There will be no revisions to our military capabilities. No third country has the right to block our participation in any union or bloc. We will never recognise any territories occupied by Russia,” said Ukrainian Foreign Minister Andrii Sybiha.
Meanwhile, the view from Washington is one of commitment to a pragmatic and realistic foreign policy, said US Director of National Intelligence Tulsi Gabbard, emphasising the need for stable alliances. Yet there was a sense that US unilateralism has fuelled frustration among allies.
As these discussions unfolded, Russian President Vladimir Putin agreed to temporarily halt attacks on Ukrainian energy centres but refused to support a full 30-day ceasefire, which US President Donald Trump had hoped would be the first step towards a lasting peace deal. Ukraine accused Russia of effectively rejecting the ceasefire proposal, and both countries blamed each other on Wednesday for launching air strikes that caused fires and damaged infrastructure.
From Europe to the Middle East, the conflicts shaping the new world order seem more interconnected than ever, a point illustrated during the Raisina Dialogue, held under the theme People, Peace and Planet.
A narrative emerged of a shifting balance of power. While Iran, an ally of Russia, remains a major regional actor, analysts suggested it had been significantly weakened following the October 7, 2023 attacks. Meanwhile, Israel is emerging as the dominant force, frequently altering the rules of engagement and crossing previously defined red lines.
One notable statement came from Anwar Gargash, diplomatic adviser to President Sheikh Mohamed, who emphasised that the UAE and other Arab states should prioritise finding common ground with Iran rather than focusing on disagreements.
While Mr Trump has reinstated his “maximum pressure” policy on Iran, India continues to maintain cordial relations with both Israel and Tehran, carefully balancing its interests.
“India has not been and continues to be a non-interventionist part,” said Manish Tewari, Indian member of parliament. “We would be more than happy to be catalysts, but we have historically not been mediators or facilitators.
“The world survives in hope, and we do hope that there is peace and stability in the Middle East. I think the important thing to remember is that except for the military-industrial complexes, there's nobody else who benefits from wars. They are the ones who make the money out of the killing machines,” added Mr Tewari.
With peace remaining an aspiration, traditional assumptions about diplomacy, deterrence and regional stability are being upended. The pathways towards peace now demand complex compromises and strategic recalibrations.
What became evident from the dialogue discussions is that the world order is no longer dictated by a single superpower or a singular ideology. Instead, power is diffused across several poles, forcing states to navigate a competitive international system. Whether this transition leads to stability or deepens geopolitical divides remains uncertain. One thing is clear – the age of unchallenged western dominance is over, and a new, multipolar world is taking shape.
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COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
Andor
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Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
Company%20Profile
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