An Iranian street money exchanger holds US dollars and Euro banknotes, in a street as some exchange shops bring back their rate boards. EPA
An Iranian street money exchanger holds US dollars and Euro banknotes, in a street as some exchange shops bring back their rate boards. EPA

US criticises European aid package for Iran



The top US envoy on Iran criticised a European Union decision to give $20.7 million in aid to Tehran on Friday, saying it sent “the wrong message at the wrong time”, and he urged Brussels to help Washington end the Iranian threat to global stability.

"Foreign aid from European taxpayers perpetuates the regime's ability to neglect the needs of its people and stifles meaningful policy changes," Brian Hook, the US special representative for Iran, said in a statement.

"The Iranian people face very real economic pressures caused by their government's corruption, mismanagement, and deep investment in terrorism and foreign conflicts," he added. "The United States and the European Union should be working together instead to find lasting solutions that truly support Iran's people and end the regime's threats to regional and global stability."

The EU decision on Thursday to provide 18 million euros ($20.7 million) in aid to Iran was aimed at offsetting the impact of US sanctions as European countries try to salvage the 2015 agreement that saw Tehran limit its nuclear ambitions.

President Donald Trump pulled the United States out of the nuclear deal in May and is reimposing sanctions on Tehran, even as other parties to the accord are trying to find ways to save the agreement.

The EU funding is part of a wider package of 50 million euros earmarked in the EU budget for Iran, which has threatened to stop complying with the nuclear accord if it fails to see the economic benefit of relief from sanctions.

The United States is pressing other countries to comply with its sanctions.

"More money in the hands of the ayatollah means more money to conduct assassinations in those very European countries," Mr Hook said in his statement.

_______________

Read more:

UK turmoil hits bid to free jailed woman in Iran

Briton faces longer jail term in Iran over UK's 'unpaid debt'

_______________

US national security adviser John Bolton told Reuters during a visit to Israel earlier this week that the return of US sanctions was having a strong effect on Iran's economy and popular opinion.

The US sanctions dusted off this month targeted Iran's car industry, trade in gold and other precious metals, and purchases of US dollars crucial to international financing and investment and trade relations. Farther-reaching sanctions are to follow in November on Iran's banking sector and oil exports.

On Friday, Iranian Oil Minister Bijan Zanganeh said some members of oil producer group OPEC were acting in accordance with U.S. policies, Iran's Khaneye Mellat news agency reported.

"Some members are interpreting the latest OPEC decision on oil output differently ... and are acting in accordance with the policies of the US," the agency quoted Mr Zanganeh as saying.

The Organisation of the Petroleum Exporting Countries agreed with Russia and other oil-producing allies in June to raise output from July, with Iran's arch-rival Saudi Arabia pledging a "measurable" supply boost but giving no specific numbers.

Iran told OPEC this month that no member country should be allowed to take over another member's share of oil exports, expressing concern about a Saudi offer to pump more crude amid US sanctions on Iranian oil sales starting in November.

The specs

Price, base: Dh228,000 / Dh232,000 (est)
Engine: 5.7-litre Hemi V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 552Nm
Fuel economy, combined: 12.5L / 100km

Scores

Oman 109-3 in 18.4 overs (Aqib Ilyas 45 not out, Aamir Kaleem 27) beat UAE 108-9 in 20 overs (Usman 27, Mustafa 24, Fayyaz 3-16, Bilal 3-23)

The full list of 2020 Brit Award nominees (winners in bold):

British group

Coldplay

Foals

Bring me the Horizon

D-Block Europe

Bastille

British Female

Mabel

Freya Ridings

FKA Twigs

Charli xcx

Mahalia​

British male

Harry Styles

Lewis Capaldi

Dave

Michael Kiwanuka

Stormzy​

Best new artist

Aitch

Lewis Capaldi

Dave

Mabel

Sam Fender

Best song

Ed Sheeran and Justin Bieber - I Don’t Care

Mabel - Don’t Call Me Up

Calvin Harrison and Rag’n’Bone Man - Giant

Dave - Location

Mark Ronson feat. Miley Cyrus - Nothing Breaks Like A Heart

AJ Tracey - Ladbroke Grove

Lewis Capaldi - Someone you Loved

Tom Walker - Just You and I

Sam Smith and Normani - Dancing with a Stranger

Stormzy - Vossi Bop

International female

Ariana Grande

Billie Eilish

Camila Cabello

Lana Del Rey

Lizzo

International male

Bruce Springsteen

Burna Boy

Tyler, The Creator

Dermot Kennedy

Post Malone

Best album

Stormzy - Heavy is the Head

Michael Kiwanuka - Kiwanuka

Lewis Capaldi - Divinely Uninspired to a Hellish Extent

Dave - Psychodrama

Harry Styles - Fine Line

Rising star

Celeste

Joy Crookes

beabadoobee

RESULTS

5pm: Handicap (PA) Dh70,000 1,400m
Winner: AF Tathoor, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh70,000 1,000m
Winner: Dahawi, Antonio Fresu, Musabah Al Muhairi
6pm: Maiden (PA) Dh70,000 2,000m
Winner: Aiz Alawda, Fernando Jara, Ahmed Al Mehairbi
6.30pm: Handicap (PA) Dh70,000 2,000m
Winner: ES Nahawand, Fernando Jara, Mohammed Daggash
7pm: Maiden (PA) Dh70,000 1,600m
Winner: Winked, Connor Beasley, Abdallah Al Hammadi
7.30pm: Al Ain Mile Group 3 (PA) Dh350,000 1,600m
Winner: Somoud, Connor Beasley, Ahmed Al Mehairbi
8pm: Handicap (PA) Dh70,000 1,600m
Winner: Al Jazi, Fabrice Veron, Eric Lemartinel

Should late investors consider cryptocurrencies?

Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.

They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.

“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.

He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.