Latest news with #British
Leader Live
41 minutes ago
- Politics
- Leader Live
Lammy to meet Iranian foreign minister as Trump steps back from military action
The Foreign Secretary is set to meet Abbas Araghchi alongside his counterparts from France, Germany and the EU as he seeks to negotiate a settlement before US President Donald Trump decides on whether to take military action against Tehran. In a statement read by his press secretary on Thursday, Mr Trump said there was still 'a substantial chance of negotiations' and said he would make a decision on deploying US forces 'within the next two weeks'. Mr Trump had previously said he 'may' join Israeli strikes against Iran and its nuclear programme, but added: 'I may not do it. I mean, nobody knows what I'm going to do.' Friday's meeting with the so-called E3 countries follows Mr Lammy's visit to Washington, where he met US secretary of state Marco Rubio in the White House on Thursday evening to discuss 'how a deal could avoid a deepening conflict'. The Foreign Secretary said: 'The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon.' The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon. Meeting with @SecRubio and @SteveWitkoff in the White House today, we discussed how a deal could avoid a deepening conflict. A window now exists within the next two… — David Lammy (@DavidLammy) June 19, 2025 Adding that a 'window now exists within the next two weeks to achieve a diplomatic solution', Mr Lammy said: 'Now is the time to put a stop to the grave scenes in the Middle East and prevent a regional escalation that would benefit no one.' Earlier on Thursday, Prime Minister Sir Keir Starmer had urged the US to step back from military action, saying there was a 'real risk of escalation'. It remains unclear whether the UK would join any military action, although there has been speculation that US involvement could require using the British-controlled base on Diego Garcia in the Chagos Islands. The B-2 stealth bombers based there are capable of carrying specialised 'bunker buster' bombs which could be used against Iran's underground nuclear facility at Fordo. Attorney General Lord Hermer is reported to have raised legal concerns about any British involvement in the conflict beyond defending its allies, which could limit the extent of any support for the US if Mr Trump decides to act militarily. Meanwhile, two Labour backbenchers pushed for a 'fresh, tough approach' to Tehran. Jon Pearce and Mike Tapp, chairman and vice-chairman respectively of Labour Friends of Israel, said the UK urgently needed 'a multifaceted diplomatic, economic and national security plan to guard against the Iranian threat and force the regime to change course'. Writing in The Daily Telegraph, the pair called for tighter sanctions on Iran, the proscription of the country's Revolutionary Guard Corps and a 'comprehensive diplomatic solution' that 'eliminates once and for all' Iran's nuclear threat.
Rhyl Journal
42 minutes ago
- Politics
- Rhyl Journal
Lammy to meet Iranian foreign minister as Trump steps back from military action
The Foreign Secretary is set to meet Abbas Araghchi alongside his counterparts from France, Germany and the EU as he seeks to negotiate a settlement before US President Donald Trump decides on whether to take military action against Tehran. In a statement read by his press secretary on Thursday, Mr Trump said there was still 'a substantial chance of negotiations' and said he would make a decision on deploying US forces 'within the next two weeks'. Mr Trump had previously said he 'may' join Israeli strikes against Iran and its nuclear programme, but added: 'I may not do it. I mean, nobody knows what I'm going to do.' Friday's meeting with the so-called E3 countries follows Mr Lammy's visit to Washington, where he met US secretary of state Marco Rubio in the White House on Thursday evening to discuss 'how a deal could avoid a deepening conflict'. The Foreign Secretary said: 'The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon.' The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon. Meeting with @SecRubio and @SteveWitkoff in the White House today, we discussed how a deal could avoid a deepening conflict. A window now exists within the next two… — David Lammy (@DavidLammy) June 19, 2025 Adding that a 'window now exists within the next two weeks to achieve a diplomatic solution', Mr Lammy said: 'Now is the time to put a stop to the grave scenes in the Middle East and prevent a regional escalation that would benefit no one.' Earlier on Thursday, Prime Minister Sir Keir Starmer had urged the US to step back from military action, saying there was a 'real risk of escalation'. It remains unclear whether the UK would join any military action, although there has been speculation that US involvement could require using the British-controlled base on Diego Garcia in the Chagos Islands. The B-2 stealth bombers based there are capable of carrying specialised 'bunker buster' bombs which could be used against Iran's underground nuclear facility at Fordo. Attorney General Lord Hermer is reported to have raised legal concerns about any British involvement in the conflict beyond defending its allies, which could limit the extent of any support for the US if Mr Trump decides to act militarily. Meanwhile, two Labour backbenchers pushed for a 'fresh, tough approach' to Tehran. Jon Pearce and Mike Tapp, chairman and vice-chairman respectively of Labour Friends of Israel, said the UK urgently needed 'a multifaceted diplomatic, economic and national security plan to guard against the Iranian threat and force the regime to change course'. Writing in The Daily Telegraph, the pair called for tighter sanctions on Iran, the proscription of the country's Revolutionary Guard Corps and a 'comprehensive diplomatic solution' that 'eliminates once and for all' Iran's nuclear threat.
South Wales Guardian
42 minutes ago
- Politics
- South Wales Guardian
Lammy to meet Iranian foreign minister as Trump steps back from military action
The Foreign Secretary is set to meet Abbas Araghchi alongside his counterparts from France, Germany and the EU as he seeks to negotiate a settlement before US President Donald Trump decides on whether to take military action against Tehran. In a statement read by his press secretary on Thursday, Mr Trump said there was still 'a substantial chance of negotiations' and said he would make a decision on deploying US forces 'within the next two weeks'. Mr Trump had previously said he 'may' join Israeli strikes against Iran and its nuclear programme, but added: 'I may not do it. I mean, nobody knows what I'm going to do.' Friday's meeting with the so-called E3 countries follows Mr Lammy's visit to Washington, where he met US secretary of state Marco Rubio in the White House on Thursday evening to discuss 'how a deal could avoid a deepening conflict'. The Foreign Secretary said: 'The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon.' The situation in the Middle East remains perilous. We are determined that Iran must never have a nuclear weapon. Meeting with @SecRubio and @SteveWitkoff in the White House today, we discussed how a deal could avoid a deepening conflict. A window now exists within the next two… — David Lammy (@DavidLammy) June 19, 2025 Adding that a 'window now exists within the next two weeks to achieve a diplomatic solution', Mr Lammy said: 'Now is the time to put a stop to the grave scenes in the Middle East and prevent a regional escalation that would benefit no one.' Earlier on Thursday, Prime Minister Sir Keir Starmer had urged the US to step back from military action, saying there was a 'real risk of escalation'. It remains unclear whether the UK would join any military action, although there has been speculation that US involvement could require using the British-controlled base on Diego Garcia in the Chagos Islands. The B-2 stealth bombers based there are capable of carrying specialised 'bunker buster' bombs which could be used against Iran's underground nuclear facility at Fordo. Attorney General Lord Hermer is reported to have raised legal concerns about any British involvement in the conflict beyond defending its allies, which could limit the extent of any support for the US if Mr Trump decides to act militarily. Meanwhile, two Labour backbenchers pushed for a 'fresh, tough approach' to Tehran. Jon Pearce and Mike Tapp, chairman and vice-chairman respectively of Labour Friends of Israel, said the UK urgently needed 'a multifaceted diplomatic, economic and national security plan to guard against the Iranian threat and force the regime to change course'. Writing in The Daily Telegraph, the pair called for tighter sanctions on Iran, the proscription of the country's Revolutionary Guard Corps and a 'comprehensive diplomatic solution' that 'eliminates once and for all' Iran's nuclear threat.
Straits Times
44 minutes ago
- Business
- Straits Times
Singapore's banking hub has a corner where cash is still king
Travelers with cash also avoid the higher exchange rates and foreign transaction fees imposed by many credit cards. PHOTO: ST FILE SINGAPORE - In the heart of Singapore, a financial hub where billions of dollars zip around the world over computer screens in nanoseconds, there's a crowded building where cash still reigns. Six days a week, hundreds of people line up at The Arcade, a narrow, three-story plaza abutting Raffles Place square, to buy and sell hard currency at one of around 30 money changer stalls. All manner of notes can be had in minutes: Singapore dollars for British pounds? Coming right up. Indonesian rupiah for Vietnamese dong? Icelandic króna? Maldivian rufiyaa? No problem. Some 150 currencies are available. 'Cash will remain forever,' said Abdul Haleem, 65, a veteran of the industry whose kiosk sits at the entrance to the The Arcade. The towering offices of global banking giants JPMorgan Chase & Co. and Bank of China are just steps away. The number of licensed money changers in Singapore dropped during the Covid-19 pandemic when many people were unable to travel and retail shops struggled to pay rent. But there are close to 250 physical stalls still operating, and new ones continue to spring up across Singapore. That's even though multi-currency payment apps such as YouTrip, Wise and Revolut have grown in popularity. To understand how so many money changers can survive the digital age, you need to know a bit about Singapore's place in the world. Though it's now among the richest countries – where financial titans from UBS Group to BlackRock manage more than US$4 trillion and billionaires including James Dyson, Ray Dalio and Sergey Brin have set up family offices – the nation remains a shipping and transit hub at its core. Hundreds of vessels anchor in Singapore's harbour each day, many waiting to load and unload cargo at one of the world's busiest ports. For decades, that's made Raffles Place a prime location for money changers, just a few blocks from where the Singapore River empties into the Singapore Strait. Many sailors need to swap cash from their previous locations, and change money for their next destination. 'They get off the boat and come right here,' said Mr Haleem, whose uncle Abdul Gaffoor, now 99, started City Money Changers on the Arcade's ground floor in 1980. Old-world relic Many office workers also come in search of the best exchange rates – which are often better than what banks offer. Mohamed Rafik, 55, a partner at Arcade Money Changers, a stall opposite Haleem's, remains optimistic. His evidence is that there are new licensees entering the industry who wouldn't do it if they couldn't make a living. 'Money changers won't go out of business,' said Mr Rafik, while handling cash and paper receipts on a busy afternoon. Digital payment wallets may seem attractive now, but the companies also have overheads and may try to increase rates in the long run, he predicted. Right now, a thriving tourism industry is driving demand during the June school holidays. Singapore is close to South-east Asian holiday hotspots like Phuket in Thailand, Vietnam's Ha Long Bay and Bali, Indonesia, where cash is still needed to pay for food at street stalls or small restaurants, or to offer tips. Travelers with cash also avoid the higher exchange rates and foreign transaction fees imposed by many credit cards. For Christina Ng, a teacher in her 40s who came to Haleem's stall for Korean won, cash gives a sense of security while traveling. Paying with notes and coins is also a lesson for her three children. 'I want them to learn how to use the cash and do the transaction, so they need to see the physical money,' she said. 'We don't want them to just tap, tap, tap without actually knowing what they're spending on.' The money changers are good leading indicators of travel trends. Whereas demand used to be strongest for US dollars and Malaysian ringgit, the Japanese yen is now most sought-after, along with Korean won and Taiwanese dollars, Mr Haleem said. At the Arcade, the money changers carve out an existence on the fringes of the multi-trillion dollar global foreign-exchange market. Frugality gives them an edge against the financial institutions that occupy the opulent towers surrounding Raffles Place, according to Mr Rafik at Arcade Money Changers. The changers will survive even if digital platforms cut their margins to zero to gain market share, he said. Congregating in one location attracts more customers, but it also pares margins to the bone. Foreign currency bought at a commercial bank can cost 1 per cent to 4 per cent or more once you factor in a poorer exchange rate and transaction fees. At City Money Changers, it's a high-volume, low-margin business where Mr Haleem typically makes fractions of a penny on the dollar in a swap. 'Everybody wants to see the best price so they will shop around,' he said, while taking a break from his tiny kiosk. On the afternoon of June 19, Haleem's stall was selling the US dollar at S$1.2900, versus the S$1.2972 offered by DBS Group Holdings, Singapore's largest bank, on its retail app. The cash exchange rate wasn't as favourable as YouTrip's rate of S$1.2877 per US dollar. With all this cash on hand – some changers can turn over $500,000 a day, he says. Regulators have scrutinized the industry in the past, concerned about the potential for money laundering. In 2016, the Monetary Authority of Singapore (MAS) cited a Raffles Place currency changer, along with other banks, for their roles in the scandal at 1MDB, the Malaysian sovereign wealth fund. The probe revealed inadequate risk management practices at the changer, and failure to identify the beneficial owners of funds. Money changers are now required to conduct customer due diligence measures for cash transactions exceeding $5,000, or for those topping $20,000 where the money is funded from an identifiable source like a bank account. That includes verifying customers' identities and keeping proper transaction records. The industry poses a 'moderate level' of money-laundering threats due to its cash-intensive nature, said an MAS spokesperson. Mr Haleem, who's been at this trade for 40 years, concedes that the future isn't all bright for his industry. Business is about half that of pre-Covid levels, and the increased competition is eroding margins, while wild currency swings can leave him sitting on devalued cash overnight. He predicts the trend toward digital payments is only going to accelerate. 'It will become worse and worse,' he said, though he thinks there will always be a little room in people's wallets for cold hard cash. One floor up at Crown Exchange, Thamim A.K., a money changer in his 60s, is more sanguine. Sitting in a backroom surrounded by wads of Korean won and Indonesian rupiah, he says his 40 years of trading, with all its ups and downs, gives him hope for the future. 'I've seen everything, all the currencies, fluctuations,' Mr Thamim said. 'The bank notes business is still there. It's growing, in fact. It's fighting with digital.' BLOOMBERG Join ST's WhatsApp Channel and get the latest news and must-reads.
Scottish Sun
an hour ago
- Scottish Sun
Brazen Albanian drug dealer who posed flaunting £250k cash from heroin sales is allowed to stay in UK
Officials were trying to deport the former model just eight months before his arrest GANGSTER'S PARADISE Brazen Albanian drug dealer who posed flaunting £250k cash from heroin sales is allowed to stay in UK Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) AN ALBANIAN drug dealer who flaunted £250,000 in cash made from selling heroin has been allowed to stay in the UK. Olsi Beheluli, who was sentenced to 11 years behind bars in 2015, has been told he won't be deported. Sign up for Scottish Sun newsletter Sign up 4 An Albanian drug dealer has been allowed to stay in the UK Credit: SWNS:South West News Service 4 Olsi Beheluli brazenly posed with huge stacks of cash Credit: SWNS:South West News Service The Albanian national, who arrived in England when he was nine-years-old, was caged after cops found him with eight kilograms of high-purity heroin. Beheluli, 33, played a "senior role" in the drug ring but, The Home Office and National Crime Agency (NCA) were informed he has to stay in the UK, as reported by The Telegraph. Officials were trying to deport the former model just eight months before his arrest in 2015. The National Crime Agency found a picture of him surrounded by an estimated £250,000 after raids in London. Beheluli was later found guilty of conspiring to supply class A drugs and sentenced at Blackfriars Crown Court. He appeared alongside fellow gang members Besim Topalli, then 29, and Azem Proshka, then 23. It was previously reported Proshka and Topalli would be deported after they serve ten years in prison. The duo admitted conspiring to supply drugs, money laundering and possessing fake ID documents. National Crime Agency branch commander Oliver Higgins said: "Beheluli seemed to enjoy the high life and gambling with the money he made from drug dealing, but in the end his luck run out. "These men were involved in supplying significant quantities of high-purity class A drugs, as demonstrated by the value of the cash, cocaine and heroin we have seized from them. "But they were unaware that they were being watched by the NCA, and their arrest and subsequent conviction should have the wider criminal fraternity looking over their shoulders." Home Office officials as well as the NCA, previously argued must Beheluli have been operating high up within the criminal organisation to be trusted with such large sums of cash. But a lower-tier tribunal judge threw out this allegation due to a lack of physical evidence or witness testimony. Beheluli arrived in the UK in November 2000, when his father claimed asylum. His father's applications were originally rejected, but in 2006 they were granted discretionary leave to remain - which later became indefinite leave to remain. Beheluli was granted British citizenship in April 2014, but caught with the drugs and wads of cash by October. The Home Office tired to deport him and argued he had lied on his citizenship forms when he stated there was nothing 'which reflected adversely on his character'. They claimed Beheluli must have held a "senior role" within the drug dealing enterprise. The court was told by the Home Office: 'It is beyond logic to accept that [he] would be trusted with such a consignment of drugs if [he was] not already involved in the supply of Class A drugs.' However, the lower tier tribunal ruled that there was insufficient evidence to reach such a conclusion. The tribunal ruled: 'There is, for example, no surveillance or other evidence from the NCA and there is no opinion evidence from a police officer, for example, to support the suggestion that only a senior and trusted member of an organised criminal gang would be entrusted with such a quantity of drugs. 'There was no evidence of sufficient cogency to establish that the appellant had been involved in criminality at the time that he said that there was nothing adverse to declare about his character.' However, the upper tribunal rejected this and has scheduled a re-hearing. It ruled: 'Whether or not there was a statement from a police officer, and whether or not there was further evidence from the NCA, that view was deserving of respect and was capable of supporting the common-sense stance of the Secretary of State.' 4 Fellow drug dealer Ardi Beshiri also showed off wads of cash 4 Human trafficker Luan Plakici relaxed on a sofa with a handful of bills Credit: PA:Press Association
