The US and Iran are scheduled to engage in indirect nuclear negotiations in Oman this week, signalling a cautious step toward diplomacy at a time of heightened regional tensions.
At the heart of the renewed diplomatic efforts is Oman, a longtime Gulf intermediary whose quiet but effective diplomacy has helped to bridge divides between adversaries.
President Donald Trump made a surprise announcement on Monday that the US and Iran were set to begin direct talks on Tehran’s nuclear programme, but Iran’s Foreign Minister Abbas Araghchi said the discussions would be indirect.
In a further sign of the fragile nature of any breakthrough between the two, Mr Trump said that if the talks were unsuccessful, “Iran is going to be in great danger”.
“We’re having direct talks with Iran, and they’ve started. It’ll go on Saturday. We have a very big meeting, and we’ll see what can happen,” Mr Trump told reporters in the Oval Office during a meeting with Israeli Prime Minister Benjamin Netanyahu.
Observers said that negotiations between the US and Iran could be a blow to Mr Netanyahu, who has long favoured a hardline approach toward Tehran, including military strikes against its nuclear facilities.
Oman’s mediation role
Last month, Iran responded through Oman to a letter from Mr Trump, in which he urged Tehran to reach a new nuclear deal.
This is not the first time Muscat has mediated between Washington and Tehran. During Mr Trump’s first term, it played a role in trying to dial down tensions after a deadly US drone strike killed Iran’s most senior military commander Qassem Suleimani.
Oman had also facilitated the early negotiations that led to the 2015 Joint Comprehensive Plan of Action (JCPOA), which restricted Iran’s nuclear advances in return for sanctions relief.
Mr Trump withdrew the US from the agreement in 2018. He argued that the deal was flawed and did not address Iran’s ballistic missile programme or regional influence. Following the withdrawal, the US reimposed severe economic sanctions on Iran.
But Muscat appears to remain committed to acting as a diplomatic bridge between Washington and Tehran, working to ease tensions on both nuclear and non-nuclear fronts.
The Gulf state is known for its neutral foreign policy. It maintains amicable relations with both western nations and regional powers, allowing it to act impartially in mediations.
Oman has worked to de-escalate flare-ups in the region, including efforts to release detainees and hostages.
Earlier this year, the Houthi rebels in Yemen said they released the crew of the Galaxy Leader after mediation by Oman, which has long been an interlocutor with the group. The vehicle carrier was seized in November 2023 at the beginning of Houthi attacks on Red Sea shipping at the start of the Gaza war. Oman had also provided a backchannel between the US and the Houthis, now targeted by US air power almost daily.
The Trump administration has linked its air strikes against the Houthis to a broader pressure campaign against Iran, suggesting that the rebels' missile and drone attacks in the Red Sea serve as a proxy battleground in Washington’s confrontation with Tehran.
The Houthi rebels have been attacking international shipping vessels, including US warships and commercial vessels, since 2023.
Direct vs indirect talks
Iran had resisted Mr Trump’s demands in recent weeks for direct negotiations over its nuclear programme, warning that failure to engage would lead to military action, and it seemed intent on holding firm to that position.
Mr Araghchi posted on X on Tuesday that indirect high-level talks would be held in Oman, adding, “It is as much an opportunity as it is a test. The ball is in America’s court.”
Steve Witkoff, Mr Trump’s special envoy, is expected to lead the US side, Axios reported. The US and Iran held indirect talks during former president Joe Biden’s term, but they made little if any progress.
The last known direct negotiations between both governments were under president Barack Obama, who lead the 2015 international nuclear deal.
The talks on Saturday aim to explore possible avenues for reining in Iran’s nuclear activities. A report by the UN's nuclear watchdog earlier this year said that Iran had accelerated its production of near weapons-grade uranium. Tehran maintains that it is not seeking a nuclear weapon.
The outcome of the Muscat talks remains uncertain, but despite all the setbacks, Washington and Tehran appear ready to test the waters again – albeit with tempered expectations. Some say Tehran believes that Mr Trump wants to strike a deal and may be both willing and able to offer meaningful sanctions relief to make it happen.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Killing of Qassem Suleimani
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
Scoreline
Syria 1-1 Australia
Syria Al Somah 85'
Australia Kruse 40'
MATCH INFO
Delhi Daredevils 174-4 (20 ovs)
Mumbai Indians 163 (19.3 ovs)
Delhi won the match by 11 runs
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
UAE currency: the story behind the money in your pockets
RACE CARD AND SELECTIONS
5pm: Maiden (PA) Dh80,000 1,200m
5,30pm: Wathba Stallions Cup Handicap (PA) Dh70,000 1,200m
6pm: The President’s Cup Listed (TB) Dh380,000 1,400m
6.30pm: The President’s Cup Group One (PA) Dh2,500,000 2,200m
7pm: Arabian Triple Crown Listed (PA) Dh230,000 1,600m
7.30pm: Handicap (PA) Dh80,000 1,400m
The National selections
5pm: RB Hot Spot
5.30pm: Dahess D’Arabie
6pm: Taamol
6.30pm: Rmmas
7pm: RB Seqondtonone
7.30pm: AF Mouthirah
HAJJAN
%3Cp%3EDirector%3A%20Abu%20Bakr%20Shawky%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3EStarring%3A%20Omar%20Alatawi%2C%20Tulin%20Essam%2C%20Ibrahim%20Al-Hasawi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Petrarch: Everywhere a Wanderer
Christopher Celenza,
Reaktion Books
THE DETAILS
Deadpool 2
Dir: David Leitch
Starring: Ryan Reynolds, Josh Brolin, Justin Dennison, Zazie Beetz
Four stars
Diriyah%20project%20at%20a%20glance
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Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
UAE currency: the story behind the money in your pockets
