Changes requested by Iran's Foreign Minister Abbas Araghchi prompted the cancellation on Monday of his participation in a nuclear policy conference in Washington.
Shortly before Mr Araghchi's scheduled online appearance at the event, a representative for the Carnegie Endowment for International Peace told those in attendance that at the last minute, the Iranian team had asked to cut back the question-and-answer portion.
“Unfortunately, the Foreign Minister’s team subsequently requested changes to the previously agreed format, which would have severely curtailed the ability of the moderator and the audience to question the Foreign Minister,” the Carnegie International Policy Conference said in an email elaborating on the decision.
“As a result, Carnegie made the decision not to proceed with the session.”
In a statement to The National, Iran’s mission to the UN accused the Carnegie Endowment of trying to “alter the format of the keynote into a debate”.
In prepared remarks seen by The National, Mr Araghchi was to have said that Iran’s peaceful nuclear programme has been "mischaracterised and misunderstood due to wrong perceptions and politically motivated narratives".
"Such narratives have shaped misguided policies and hindered opportunities for meaningful diplomacy," he was to say in the undelivered speech. "I am cautiously optimistic that this toxic dynamic may be about to change."
He suggests that US President Donald Trump recognise past policy failures in the Middle East, which he said had cost American taxpayers "trillions of dollars ... with zero gains for the United States".
Iran has long been willing to engage with Washington on the basis of "mutual respect and equal standing", he says, including recognition of its rights as a signatory to the Nuclear Non-Proliferation Treaty to produce nuclear fuel for power plants.
Iran agreed to what he calls "the most intrusive inspection regime the world has ever seen" under the 2015 nuclear deal. "We have made abundantly clear that we have nothing to hide" he adds.
Mr Araghchi says that whatever agreement may be concluded should be pillared on guaranteeing Iran’s economic benefits coupled with robust monitoring and verification, ensuring the peaceful nature of Iran’s nuclear programme.
“The scope of negotiations must also be clear; negotiations should remain focused solely on removal of sanctions and the nuclear issue,” he says. “In a region as rough and volatile as ours, Iran will never put its security up for negotiation.”
Mr Araghchi was not on the original list of speakers for 2025 Carnegie International Nuclear Policy Conference, but was added on Saturday.
In place of Mr Aragchi, Carnegie bumped up a panel discussion about nuclear policy, Ukraine and Russia.
Several hours after the Iranian Foreign Minister was to speak at the event, he attempted to explain the entire ordeal on X in a lengthy post.
"I am accustomed to tough questions from journalists and ordinary concerned citizens alike. But turning my keynote address into an open Q&A would either turn the event into a public negotiation, which I am not willing to countenance, or be unsatisfactory for an audience probably looking for details on where the talks might go," he wrote.
"I regret that my intended host was neither cognizant nor considerate of these sensitive dynamics."
Mr Araghchi's appearance at the Washington event would have come as talks between Iran and the US on Tehran's nuclear programme gain momentum following a series of meetings in Rome.
For years, Washington and Tehran have been at odds over Iran's nuclear activities. The US fears Iran is working towards building a nuclear weapon, but Tehran claims its programme is for peaceful purposes.
The second round of negotiations led by Mr Araghchi and US envoy to the Middle East Steve Witkoff ended on a positive note in the Italian capital.
The Oman-brokered talks lasted for four hours and officials declared it a “good meeting” that yielded progress.
On Sunday, Omani Foreign Minister Badr Al Busaidi thanked Mr Araghchi and Mr Witkoff “for their highly constructive approach” to the discussions.
“These talks are gaining momentum and now even the unlikely is possible,” Mr Al Busaidi said on X.
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.”
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Dubai College A 50-12 Dubai College B
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
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Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
The panel’s 2017 report followed a trail to West Africa where large sums of cash and gold were hidden by Abdullah Al Senussi, Qaddafi’s former intelligence chief, in 2011.
Cases filled with cash that was said to amount to $560m in 100 dollar notes, that was kept by a group of Libyans in Ouagadougou, Burkina Faso.
A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
Winners
Ballon d’Or (Men’s)
Ousmane Dembélé (Paris Saint-Germain / France)
Ballon d’Or Féminin (Women’s)
Aitana Bonmatí (Barcelona / Spain)
Kopa Trophy (Best player under 21 – Men’s)
Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player
Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s)
Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper
Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year
Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year
Sarina Wiegman (England)
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
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Profile box
Company name: baraka
Started: July 2020
Founders: Feras Jalbout and Kunal Taneja
Based: Dubai and Bahrain
Sector: FinTech
Initial investment: $150,000
Current staff: 12
Stage: Pre-seed capital raising of $1 million
Investors: Class 5 Global, FJ Labs, IMO Ventures, The Community Fund, VentureSouq, Fox Ventures, Dr Abdulla Elyas (private investment)
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Juliot Vinolia’s checklist for adopting alternate-day fasting
- Don’t do it more than once in three days
- Don’t go under 700 calories on fasting days
- Ensure there is sufficient water intake, as the body can go in dehydration mode
- Ensure there is enough roughage (fibre) in the food on fasting days as well
- Do not binge on processed or fatty foods on non-fasting days
- Complement fasting with plant-based foods, fruits, vegetables, seafood. Cut out processed meats and processed carbohydrates
- Manage your sleep
- People with existing gastric or mental health issues should avoid fasting
- Do not fast for prolonged periods without supervision by a qualified expert
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
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The five pillars of Islam
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