Latest news with #stability
Arab News
a day ago
- Business
- Arab News
OPEC+ has proven to be oil market's central bank, says Saudi energy minister
RIYADH: OPEC+ has proven to be the 'central bank' and regulator of the global oil market, providing much-needed stability, Saudi Arabia's energy minister said. Speaking at the annual St. Petersburg International Economic Forum in Russia, Prince Abdulaziz bin Salman praised the alliance's role in balancing oil markets amid global economic uncertainties. 'I would have to say that OPEC+ had proven to be an instrument that if it wasn't invented by us and Russia and our colleagues, it should have been invented a long time ago because this is what OPEC+ had achieved in terms of bringing stability to the market and had proven that it is the central bank and the regulator of oil markets,' the energy minister said. Prince Abdulaziz also highlighted the ongoing partnership between Saudi Arabia and Russia through the Saudi-Russian Joint Committee, noting plans for Russian Deputy Prime Minister Alexander Novak to visit the Kingdom later this year with a high-level business delegation. 'I'm looking forward to host Alexander — the co-chair of our joint committee — to Saudi Arabia this year, with the biggest, most sizable business community participation,' he said. Prince Abdulaziz emphasized that the collaboration seeks to deepen bilateral economic ties and foster diversified investment opportunities. 'We have a lot to showcase that bonding together. It will allow us to have a much more diversified relationship, and we are, as a government, working together to provide the right environment for those who want to invest in Saudi Arabia or in Russia or in any type or form of joint venturing that we should facilitate that and ensure that the investment environment is congenial for it to happen,' he added. The minister described the energy alliance as a flexible mechanism responsive to changing global conditions, reaffirming Saudi Arabia's commitment to cooperation with partners to maintain market stability. Acknowledging the challenges facing Russia, Prince Abdulaziz noted the Kingdom's support amid external restrictions. 'It's been a challenging time what Russia is going through, but we have shown a great deal of understanding of the situation, and we're trying to maneuver with the restrictions that are existing today,' he said. 'That has been the discharge of our leadership willingness to accommodate with this current situation and hopefully helping to support Russia in mitigating these exterior most daunting issues.' On whether Saudi Arabia and Russia would compensate for any loss of Iranian crude supplies, the minister stressed that such scenarios are hypothetical and that OPEC+ decisions are collective. 'You give me a question that is not evidently seen happening, I don't have an answer for you. Again, we only react to realities. But if anybody gives a question that is not relating to the reality today, I fail to see where we could predict things and how we would relate to it,' he said. The minister clarified that OPEC+ consists of 22 member states and is not dominated by Saudi Arabia and Russia alone. A core group of eight countries is tasked with engaging the full membership to ensure coordinated responses to market changes. 'To respond to a hypothetical question by giving a hypothetical answer, which none of us two here have the right to speak on behalf of everybody without knowing their opinion, is too much of an ask,' he added. He concluded by highlighting OPEC+'s reputation as a reliable and adaptive organization. 'What we know and what Alexander was saying just a while ago is that we have, as OPEC even before, an OPEC+ attending to so many circumstances since its first, it was in sequence, even inception, that we have been a reliable organization, a serious organization, an effective organization, and attentive to circumstances when they prevail,' he said.
LBCI
2 days ago
- Politics
- LBCI
President Aoun awards UNIFIL commander Aroldo Lázaro the National Order of the Cedar
Lebanon's President Joseph Aoun awarded UNIFIL Commander Major General Aroldo Lázaro the National Order of the Cedar, rank of Commander, in recognition of his efforts during his tenure leading the international peacekeeping forces in southern Lebanon. The decoration was presented as a gesture of appreciation for Lázaro's contributions to maintaining stability in the south and for his role in implementing U.N. Security Council Resolution 1701 in coordination with the Lebanese Army.
Zawya
2 days ago
- Business
- Zawya
Jordan remains safe tourist destination amid regional tensions — tourism minister
AMMAN — Minister of Tourism and Antiquities Lina Annab said on Sunday that Jordan, despite the surrounding regional circumstances, continues to enjoy security and stability, maintaining its position as a safe tourist destination welcoming visitors from around the world. Speaking at a meeting held on Monday with tourism sector operators and stakeholders, Annab emphasised that preserving Jordan's tourism image requires a unified team spirit within the sector and full co-operation between public and private entities to address the challenges facing tourism, according to the Jordan News Agency, Petra. Annab announced plans to establish a dedicated operations room within the Ministry of Tourism and Antiquities. 'The unit will comprise representatives from across the tourism sector, with the goal of improving coordination, streamlining roles, and ensuring continuity of operations in light of shifting regional dynamics. The minister also outlined upcoming efforts to roll out joint promotional campaigns and comprehensive marketing strategies aimed at boosting tourism and reinforcing Jordan's global presence. 'These initiatives will be developed in collaboration with tourism partners across sectors.' 'We will continue supporting domestic tourism while enhancing cooperation with international and regional tourism organisations to sustain momentum and promote long-term development across the Kingdom,' she added. Annab also confirmed that her ministry is working closely with the Ministry of Foreign Affairs and Royal Jordanian Airlines to assist Jordanian citizens stranded in foreign airports due to flight suspensions stemming from regional tensions.
NHK
2 days ago
- Politics
- NHK
Xi offers to work with other countries to play constructive role in Middle East
Chinese President Xi Jinping has stressed China's readiness to work with other countries to play a constructive role in stabilizing the Middle East. He also expressed worries about Israel's actions in the region. Xi was speaking with Uzbek President Shavkat Mirziyoyev on Tuesday in the Kazakh capital of Astana on the sidelines of a meeting of the leaders of China and five Central Asian countries. The Chinese Foreign Ministry said Xi expressed deep concerns about Israel's military operation against Iran, which has caused a sudden escalation of tensions in the region. The ministry said Xi noted that China opposes any actions that infringe upon the sovereignty, security and territorial integrity of other countries. The ministry said Xi called on all related parties to work to prevent tensions in the Middle East from further escalating as soon as possible, and said China is ready to work with them. At the subsequent China-Central Asia Summit, Xi expressed opposition to hegemonies and power politics, apparently criticizing the tariff policies of the administration of US President Donald Trump. Xi stressed his intention to promote a universally beneficial and inclusive economic globalization. The remarks are seen as an apparent attempt to keep the Group of Seven in check by stressing China's cooperative relations with Central Asian countries, as the G7 summit was being held at around the same time. They also demonstrate China's stance to counter the United States, with which China has been experiencing some trade friction.
Times
3 days ago
- Politics
- Times
Assisted dying bill is a conservative reform
I haven't always been a Conservative, but as far back as I can remember I have always been a conservative. Not fogeyish, certainly not reactionary, but always respectful of tradition and gently resistant to those proposing upheaval. My conservatism is partly the product of experience, of being part of a family chased across the world by those advancing revolutionary ideologies. We have felt keenly the cost of wild ideas and appreciate the benefits of stability more, perhaps, than others. But it's also, more prosaically, just how I am. It's an instinct. My failings, professionally and politically, are far more likely to derive from complacency and a surfeit of caution than from a fit of over-enthusiasm.
