Iranian president Hassan Rouhani shakes hands with Sultan Qaboos in Muscat, Oman, February 15, 2017. President.ir/Handout via REUTERS
Iranian president Hassan Rouhani shakes hands with Sultan Qaboos in Muscat, Oman, February 15, 2017. President.ir/Handout via REUTERS

Rouhani meets rulers of Oman and Kuwait to reduce Iran-GCC tensions



Muscat // Iranian president Hassan Rouhani met with Sultan Qaboos in Muscat on Wednesday, before travelling for the first time since taking office to Kuwait for further talks aimed at reducing tensions with the GCC.

“The aim of Mr Rouhani’s visit to Muscat is to consult with Oman to look at ways that Iran can remove the hostility that exists with other Arab regional countries,” an Iranian diplomat in Muscat told The National. “The sectarian issues should not come between Iran and the Gulf states, and the focus for this visit is to seek a peaceful and lasting solution in the region that would benefit all.”

Mr Rouhani, on his second visit to Oman since his election in 2013, was greeted by Sultan Qaboos bin Said at the royal airport in Muscat. It was the Sultan’s first public appearance since November when he attended the country’s National Day celebrations in a military parade.

Iran and Saudi Arabia have been locked in a cold war as Tehran has used the turmoil first of the US invasion of Iraq in 2003 and then the Arab Spring uprisings of 2011 to increase its influence across the Middle East and bolster allied governments and militias. Riyadh has also supported militias, particularly in Syria, and intervened to reinstate the Yemeni government after it was overthrown by rebels allied to Iran.

The struggle for influence has inflamed sectarianism across the region, and tensions between Iran and the GCC have only continued to increase after seeming to peak last year.

The time may be ripe for tentative rapprochement by both sides to try to lower the pitch of hostilities. Tehran feels the pressure increasing from a new administration in Washington that has stated that it will take a take a much harder line than its predecessor, which sought to engage Iran in the hope that it would alter its behaviour after the historic nuclear deal.

The Donald Trump administration’s desire to work more closely with Saudi Arabia to contain Iran may make Riyadh more willing to talk with Tehran, and observers said it was unlikely that Mr Rouhani would meet counterparts in Kuwait City without Saudi approval.

Mr Rouhani was scheduled to hold talks with the emir, Sheikh Sabah Al Ahmad Al Sabah. It is believed they focused on reducing hostilities between Iran and the GCC.

The visit comes after a rare trip by the Kuwaiti foreign minister to Tehran last month, where he delivered a message from the GCC that reportedly laid out a basis for any future talks, including final negotiations on Emirati islands occupied by Iran, non-interference in the internal affairs of Arab countries, and dropping its support for militias including Hizbollah in Lebanon.

It is highly unlikely that Iran will agree to the demands as a basis for talks, and there may be an initial focus on lower-hanging fruit to build confidence, such as getting Iranian pilgrims back to the Haj after Iran announced a boycott of the pilgrimage last year.

Analysts in the Gulf were doubtful that Mr Rouhani’s visit would lead to a process of detente, and from the Gulf perspective was more an attempt to show that they had tried.

Oman is an outlier among the GCC, and has maintained close diplomatic and economic relations with Iran, and brokered the secret talks that eventually resulted in successful negotiations over Tehran’s nuclear programme.

Oman has hoped that it will benefit from Iran’s economic reintegration into world markets with the lifting of sanctions, and the Iranian diplomat said that Mr Rouhani planned to “seal the deal” on a US$60 billion (Dh220bn) gas pipeline project agreed to in 2013 that will export gas from Iran to Oman.

The countries agreed earlier this month on a new route that will avoid the UAE’s territorial waters.

“The gas pipeline project between Oman and Iran will be an economical milestone for the two countries,” the Iranian diplomat said. “Mr Rouhani is convinced that this [project] will also bring together all Gulf countries to address their common energy needs,” he added.

foreign.desk@thenational.ae

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The specs

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The team

Videographer: Jear Velasquez 

Photography: Romeo Perez 

Fashion director: Sarah Maisey 

Make-up: Gulum Erzincan at Art Factory 

Models: Meti and Clinton at MMG 

Video assistant: Zanong Maget 

Social media: Fatima Al Mahmoud  

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SPECS
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The specs: McLaren 600LT

Price, base: Dh914,000

Engine: 3.8-litre twin-turbo V8

Transmission: Seven-speed automatic

Power: 600hp @ 7,500rpm

Torque: 620Nm @ 5,500rpm

Fuel economy 12.2.L / 100km

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

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How to protect yourself when air quality drops

Install an air filter in your home.

Close your windows and turn on the AC.

Shower or bath after being outside.

Wear a face mask.

Stay indoors when conditions are particularly poor.

If driving, turn your engine off when stationary.

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Business Insights
  • As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses. 
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Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

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Starting price: Dh79,000

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Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
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Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

Company profile

Company: Rent Your Wardrobe 

Date started: May 2021 

Founder: Mamta Arora 

Based: Dubai 

Sector: Clothes rental subscription 

Stage: Bootstrapped, self-funded 

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Part three: an affection for classic cars lives on

Read part two: how climate change drove the race for an alternative 

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THE APPRENTICE

Director: Ali Abbasi

Starring: Sebastian Stan, Maria Bakalova, Jeremy Strong

Rating: 3/5

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COMPANY PROFILE
Name: Almnssa
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Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
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One 45-minute class per week in Standard Arabic is not sufficient

The goal should be for grade 1 and 2 students to become fluent readers

Subjects like technology, social studies, science can be taught in later grades

Grade 1 curricula should include oral instruction in Standard Arabic

First graders must regularly practice individual letters and combinations

Time should be slotted in class to read longer passages in early grades

Improve the appearance of textbooks

Revision of curriculum should be undertaken as per research findings

Conjugations of most common verb forms should be taught

Systematic learning of Standard Arabic grammar

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What is graphene?

Graphene is a single layer of carbon atoms arranged like honeycomb.

It was discovered in 2004, when Russian-born Manchester scientists Andrei Geim and Kostya Novoselov were "playing about" with sticky tape and graphite - the material used as "lead" in pencils.

Placing the tape on the graphite and peeling it, they managed to rip off thin flakes of carbon. In the beginning they got flakes consisting of many layers of graphene. But as they repeated the process many times, the flakes got thinner.

By separating the graphite fragments repeatedly, they managed to create flakes that were just one atom thick. Their experiment had led to graphene being isolated for the very first time.

At the time, many believed it was impossible for such thin crystalline materials to be stable. But examined under a microscope, the material remained stable, and when tested was found to have incredible properties.

It is many times times stronger than steel, yet incredibly lightweight and flexible. It is electrically and thermally conductive but also transparent. The world's first 2D material, it is one million times thinner than the diameter of a single human hair.

But the 'sticky tape' method would not work on an industrial scale. Since then, scientists have been working on manufacturing graphene, to make use of its incredible properties.

In 2010, Geim and Novoselov were awarded the Nobel Prize for Physics. Their discovery meant physicists could study a new class of two-dimensional materials with unique properties. 

 

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

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Four reasons global stock markets are falling right now

There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:

1. Rising US interest rates

The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.

Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”

At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.

2. Stronger dollar

High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.” 

3. Global trade war

Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”

4. Eurozone uncertainty

Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.

Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”

The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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