Iran says path open for solution to nuclear dispute



World powers should seize an “historic opportunity” to clinch a deal on Iran’s nuclear programme, the country’s foreign minister said, ahead of a fresh round of negotiations beginning today.

In a five-minute foreign ministry video released on the eve of the talks, Mohammad Javad Zarif said there was a chance to end the stand-off as long as Western powers dealt with Iran on an “equal footing” and did not seek to impose their will on others.

Negotiators from Iran, the United States, Russia, France, Britain, China and Germany will meet in Geneva today for the third round of discussions in a month, and two weeks after coming close to an initial accord that would curb Tehran’s nuclear activity in exchange for limited relief from sanctions.

The election of relative moderate Hassan Rouhani as president earlier this year opened a diplomatic window to try to untangle the decade-long deadlock that has at times edged towards conflict in the Middle East.

“This past summer, our people chose constructive engagement through the ballot box, and through this, they gave the world a historic opportunity to change course,” Mr Zarif said in the video posted online with subtitles in several languages.

“To seize this unique opportunity, we need to accept an equal footing and choose a path based on mutual respect.”

The talks seek to reach an interim deal to allow time to negotiate a comprehensive, permanent agreement that would provide assurances to the so-called P5+1 powers that Iran’s atomic programme will not eventually produce bombs.

Iran denies that it wants to develop a nuclear weapons capability and insists its programme is limited to the peaceful generation of electricity and medical research.

The talks from November 7-9 stumbled over Iran’s insistence that its right to enrich uranium be explicitly recognised in the draft text, and demands from the French delegation that the Arak heavy water reactor be shut down.

Mr Zarif on Sunday offered a possible way around the first point, saying Tehran has the right to enrich uranium but does not now insist others recognise that right.

He told reporters in Rome en route to Geneva yesterday that there was “every possibility” of a successful conclusion.

“I’m willing to accept serious progress instead of an agreement but I’m certain that, with the necessary political will, we can make progress and even reach an agreement,” he said.

Earlier yesterday, Iranian parliamentarians gathered signatures to demand the government continue enriching uranium to levels of 20 per cent and finish building the Arak reactor, which it is feared could produce bomb-grade plutonium.

Mr Rouhani has repeatedly said Iran will never give up its right to produce nuclear fuel for peaceful purposes, a message the Islamic Republic’s parliament, dominated by conservatives, appears to want to hold him to.

“On the eve of the Geneva talks, we plan to approve such a proposal in parliament. Based on that, the government is obliged to protect the nuclear rights of Iran in the forthcoming negotiations,” Mehr news agency quoted member of parliament Fatemeh Alia as saying.

Another MP, Mehdi Mousavinejad, said the measure would require the government to maintain enrichment of uranium to 20 per cent, complete the nuclear fuel cycle and finish construction of the Arak reactor.

While it has limited powers in Iran’s complex political system, parliament would likely vote on any nuclear deal. However, it would be very unlikely to go against the wishes of the country’s supreme leader, Ayatollah Ali Khamenei.

Mr Rouhani’s approach to the talks, which he says is the best way to get sanctions hobbling Iran’s oil-based economy lifted, has Mr Khamenei’s public backing.

Iranian political figures accused France of jeopardising chances of a deal after its foreign minister Laurent Fabius warned against accepting “a fool’s game” – that is, what he considered lopsided concessions to Tehran.

Israel has also strongly opposed any deal and called for greater concessions from Tehran before any easing of sanctions.

The Israeli prime minister, Benjamin Netanyahu, travels to Russia today and is expected to lobby Moscow to reject an interim agreement that he says would give Iran vital sanctions relief while failing to halt its alleged march towards nuclear weapons capability..

The US secretary of state John Kerry pressed Iran on Monday to finalise an agreement proving to the world that its nuclear activity was peaceful but said he had “no specific expectations” for this week’s talks.

* Reuters

Asia%20Cup%202022
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Mountain Classification Tour de France after Stage 8 on Saturday: 

  • 1. Lilian Calmejane (France / Direct Energie) 11
  • 2. Fabio Aru (Italy / Astana) 10
  • 3. Daniel Martin (Ireland / Quick-Step) 8
  • 4. Robert Gesink (Netherlands / LottoNL) 8
  • 5. Warren Barguil (France / Sunweb) 7
  • 6. Chris Froome (Britain / Team Sky) 6
  • 7. Guillaume Martin (France / Wanty) 6
  • 8. Jan Bakelants (Belgium / AG2R) 5
  • 9. Serge Pauwels (Belgium / Dimension Data) 5
  • 10. Richie Porte (Australia / BMC Racing) 4
BANGLADESH SQUAD

Mashrafe Mortaza (captain), Tamim Iqbal, Liton Das, Soumya Sarkar, Mushfiqur Rahim (wicketkeeper), Mahmudullah, Shakib Al Hasan (vice captain), Mohammad Mithun, Sabbir Rahaman, Mosaddek Hossain, Mohammad Saifuddin, Mehidy Hasan Miraz, Rubel Hossain, Mustafizur Rahman, Abu Jayed (Reporting by Rohith Nair in Bengaluru Editing by Amlan Chakraborty)

Company%20Profile
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The specs: 2018 Jeep Grand Cherokee Trackhawk


Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

COMPANY%20PROFILE
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COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 

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.”

COMPANY%20PROFILE
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The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Under 19 Cricket World Cup, Asia Qualifier

Fixtures
Friday, April 12, Malaysia v UAE
Saturday, April 13, UAE v Nepal
Monday, April 15, UAE v Kuwait
Tuesday, April 16, UAE v Singapore
Thursday, April 18, UAE v Oman

UAE squad
Aryan Lakra (captain), Aaron Benjamin, Akasha Mohammed, Alishan Sharafu, Anand Kumar, Ansh Tandon, Ashwanth Valthapa, Karthik Meiyappan, Mohammed Faraazuddin, Rishab Mukherjee, Niel Lobo, Osama Hassan, Vritya Aravind, Wasi Shah

The%20specs
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ADCC AFC Women’s Champions League Group A fixtures

October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA

Company%20Profile
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