Truth and Lies in the War on Terror

Six months after the invasion of Iraq in March 2003 and two years after the invasion of Afghanistan in October 2001, John Pilger’s documentary “Breaking the Silence: Truth and Lies in the War on Terror” highlighted the hypocrisy and double standards of the United States and British adventures of 2001-3, which led to the deaths of more than a million people.

The film opens with a series of haunting war photographs. Over the carnage, George W Bush says, ‘The United States will bring to the Iraqi people food and medicines and supplies, and freedom.’ His voice dissolves into the high-pitch of his co-conspirator, Tony Blair, who exalts his actions as ‘a fight for freedom’ and ‘a fight for justice’.

Pilger asks ‘What are the real aims of this war and who are the most threatening terrorists?' In a remote village in Afghanistan, he interviews Orifa, who lost eight members of her family, including six children, when an American plane dropped a 500-pound bomb on her mud-brick home. This is juxtaposed with Bush telling Congress that the United States is ‘a friend to the Afghan people’. Few countries have been helped less by the United States – less than three per cent of all aid to Afghanistan is for reconstruction from war damage. 

Kabul, the capital, is a maze of destruction, with cluster bombs not cleared from the city center and families living in abandoned buildings. ‘I’ve spent much of my life in places of upheaval, but I’ve rarely seen such a ruined city as Kabul,’ says Pilger, standing in a shoe factory where the populations of two villages have squatted, destitute. 

Most of the damage was inflicted not by the ‘official enemy’, the Taliban, but by warlords backed, trained and funded by the United States, who restored the poppy harvests and opium trade, which the Taliban had banned. 

Recalling the 1979 Soviet invasion of Afghanistan, Pilger reveals that President Jimmy Carter signed a secret presidential decree authorizing the bank-rolling of the warlords, known as the mujahedin, to fight the Red Army. Among them, the CIA and Britain's MI6 trained Islamic extremists, including Osama bin Laden, as part of what was called Operation Cyclone. From this, says Pilger, ‘came the Taliban, Al-Qaeda and the attacks of September 11’. 

The Taliban were also secret friends the United States. Shortly after they took power in Afghanistan, they were offered a bribe by the administration of President Bill Clinton if they backed a plan for an oil pipeline from central Asia through Afghanistan. However, when George W Bush became President, the connection between Al-Qaeda and the Taliban was an embarrassment, and the tie was cut. 

Pilger's interviews with administration officials – described by former CIA analyst Ray McGovern as ‘the crazies’ – are perhaps the highlight of a film made when 9/11 and the invasion of Iraq were raw.

He interviews Under Secretary of State John Bolton, who was Donald Trump's National Security Adviser. Bolton tells Pilger that the United States has done more ‘to create conditions in which individuals can be free around the world than any other country’.

When Pilger points to the US record of bombing countries into submission, Bolton says, ‘Are you a Labour Party member… or a Communist Party member?’ When Pilger replies that Tony Blair's Labour Party are his allies, he says, ‘Oh, really?’

Of all Pilger's films about American foreign policy, Breaking the Silence achieved something of a ‘cult’ status as counter-history and was shown across the United States – thanks in part to Ray McGovern, who took the film on a tour of campuses and small towns. ‘We warn people,’ he said, ‘about the crazies.’ Nothing, he might add today, has changed.

 

China tells India to stay calm in map row

According to the Saudi Gazette, China has told India to stay calm over a new Chinese map that Delhi says lays claim to its territory. India protested after Beijing released the map showing the north-eastern Arunachal Pradesh state and the disputed Aksai Chin plateau as China's territory.

Beijing responded by saying its neighbours should refrain from over-interpreting the issue.

Meanwhile, media reports say Chinese President Xi Jinping is likely to skip next week's G20 leaders’ talks in Delhi.

Unconfirmed reports suggest Premier Li Quang will attend instead. Xi had earlier confirmed he would travel to Delhi for the meeting from 9-10 September, but China's foreign ministry did not confirm his attendance when asked to do so at a regular press briefing on Thursday.

India is not the only country to object to the map — on Thursday, the Philippines and Malaysia issued protests against China's claim of ownership over most of the South China Sea in the map. Taiwan — which China says is a breakaway province that will eventually be under Beijing's control — also objected to its inclusion in the map.

A politician from Nepal also cancelled a visit to China, saying the new map did not take into account the country's revised map, which has already sparked tensions with India.

The escalation over the 2023 edition of China's standard national map comes just days after Indian Prime Minister Narendra Modi and President Xi spoke on the sidelines of the BRICS summit in South Africa.

Indian foreign minister, Foreign Minister Jaishankar called China's claim absurd. An Indian official said afterwards that the two countries had agreed to intensify efforts at expeditious disengagement and de-escalation along the disputed border.

On Thursday China indicated it wasn't budging on the map — the disputed border is an issue which has bedevilled relations for years.

"It is a routine practice in China's exercise of sovereignty in accordance with the law," foreign ministry spokesperson Wang Wenbin said.

"We hope relevant sides can stay objective and calm, and refrain from over-interpreting the issue."

India has often reacted angrily to China's attempts to stake claim to its territory.

The source of the tension between the neighbours is a disputed 3,440km (2,100 mile)-long de facto border along the Himalayas - called the Line of Actual Control, or LAC — which is poorly demarcated and soldiers on either side come face to face at many points.

China says it considers the whole of Arunachal Pradesh its territory, calling it South Tibet — a claim India firmly rejects. India claims the Aksai Chin plateau in the Himalayas, which is controlled by China.

Relations between India and China have worsened since 2020, when their troops were involved in a deadly clash at the Galwan valley in Ladakh - it was the first fatal confrontation between the two sides since 1975. 

Iran: Mahsa Amini Death Anniversary

Two weeks before the first anniversary of Mahsa Amini’s death in police custody and the many months of uprisings that followed Iran’s Islamic Republic has bared its iron fist towards the families and other Iranians preparing to pay their respects to the dead—over 500 women and men who sacrificed their lives and futures for the cause of “Woman, Life, Freedom.”

According to the critics, the regime has opted for a massive show of force and drastic measures to intimidate and crush all possible anti-government demonstrations. A month ago, it sent the Morality Police back to the streets of Iranian cities, which were quietly withdrawn last October, and is putting in place additional security forces to ensure women observe the Islamic head covering, or hijab.

The regime’s message is that not only will women who don’t cover properly be targeted, but all demonstrations and protests on the streets, universities, and other public places will be crushed. Supporters of Mahsa say the regime fears it will be unable to contain or control a revival of the protest movement ignited last September. Nor, apparently, does the regime feel it can afford once again to arrest thousands and kill several hundred of its young citizens. Thus, early preparation of preventive measures is essential.

Lately, the BBC reported widespread arrests of women activists by judiciary and security forces in Gilan, Mahabad, Oshnouyeh, Tehran and Tabriz. The Gilan activists, with the usual hyperbole, were accused of “Preparing the ground for fomenting riots and insurrection in the Gilan province and some cities in the Kurdistan province.”

Families who sought information about where their women were being held were given none. Over 200 gender and political researchers, artists and journalists in Iran and the diaspora have protested the arrest of the activists in Gilan and other provinces, as well as the false accusations brought against them.

The regime is also threatening the families of the protestors killed during the demonstrations last year. These families are, by implication, being warned not to hold observance ceremonies, visit the graves of their loved ones, or pay their respects to those who lost their lives during the uprisings.

Reports are circulating that shopkeepers and businesses have been warned not to close their premises to mark the anniversary.

The deputy head of the judiciary also warned protestors who were pardoned by the Supreme Leader and freed from prison not to participate in any new demonstrations; if arrested for a second time, they would have to face harsh punishment, he said.

According to the opponents, the regime has been purging academics from universities across the country that supported the students who participated in last year’s demonstrations and protested the arrests and imprisonment of their colleagues.

The targeted institutions include Tehran University, Iran’s ‘mother’ institution of higher education, and Sharif University, a technical institution widely considered Iran’s MIT, where the country’s leading engineers and scientists are trained. A substantial number of students have also been barred from attending classes and completing their studies.

These measures represent a throwback to the so-called ‘cultural revolution’ of the early days of the Islamic Republic when large numbers of professors were dismissed from universities.  

Iran’s syndicate of university professors has publicly condemned the “destructive interference” of security and intelligence forces in university affairs.

The regime is replacing dismissed professors with less qualified academics. One professor compared this purge to the thirteen-century Mongol invasion of Iran, spreading waste and destruction everywhere.

Meanwhile, the Ministry of Higher Education is revising the humanities curriculum of subjects like Western philosophy and dropping several topics, including English language and literature, cinematography, and sculpture. It also expands the teaching of Islamic philosophy, Islamic law and Islamic ethics.

According to some reports, a number of universities across the country will admit fewer women and are considering total segregation of women and men in university classes.

Even athletes and athletics have not been spared in this new crackdown. Last week, the people of Tehran woke up to astonishing news. On the eve of a popular national soccer tournament, whose matches are attended by tens of thousands of Iranians, bulldozers were busy demolishing the spectator stands in Tehran’s largest stadium.

Only last July, under pressure from international soccer organizations, the government decided women could attend these games – albeit sitting in segregated stands. The reason behind the recent demolition seems clear, the government cannot afford to have tens of thousands of male and female spectators under one roof.

The regime also cannot risk the probability that the majority of women will remove their hijabs or the high likelihood that the spectators will not only cheer the players but convert their cheering into slogans against the regime.

 

 

Commemorating the day Iranian President and Prime Minster were assassinated

Iranians commemorate National Day of Fight against Terrorism on August 30, which is considered a dark day in their country’s history. On a Sunday afternoon in 1981, only three years after the Islamic Revolution and amidst a full-scale war against Iran by its neighbor Iraq, a terrorist attack sent shockwaves throughout Iran. The country’s President Mohammad Ali Rajai and Prime Minister Mohammad Javad Bahonar were assassinated in an attack on a high-ranking meeting. 

The two figures who had dedicated their lives to serving their country were attending a council meeting at the Islamic Republic Party's building, discussing the pressing issues facing the country. Little did they know that a security personnel, entrusted with protecting them, would betray that trust and proceed to assassinate them.

The security man, named Massoud Kashmiri, entered the room with a briefcase that contained a bomb. In an instant, lives were lost, and the two senior officials were killed. The explosion also took the lives of two servicemen and a woman who happened to be passing by the building.
Mujahedin-e-Khalq, a terrorist organization, proudly claimed responsibility for the cowardly attack. They admitted to giving Kashmiri the mission to assassinate the two top officials. 

The news of the loss quickly spread across the country. The Tehran Times was one of the outlets that covered the tragedy and the countless reactions to it. According to a report published by the Tehran Times on September 01, hundreds of thousands of people attended the funeral ceremony of Bahonar and Rajai to bid farewell to the two beloved officials.   

Iran’s parliament released a statement after the attack urging people to not lose hope and to continue their mission toward full freedom. “Once again people like Banisadr, Bakhtiar, the MKO, and other hypocrites, have used their political and military fronts to undermine the Islamic Revolution. They have used all their powers to shatter the power and firmness of the Islamic republic, but to no avail, for the ship of the revolution is sailing at full speed ahead,” read the statement. 

Other officials congratulated the two men’s martyrdom, saying “No power can stain divine light” and that the revolution will continue despite “plots of the enemies”.

“The martyrdom of these two pure sons of Islam took place to show once again the feebleness and the wickedness of terrorism,” said the then Defense Minister Mousa Namjoo.

More than four decades after Bahonar and Rajai’s assassination, the two figures are still regarded as role models for their sincerity, perseverance, enthusiasm, and hard work. That’s while the terror organization responsible for their killing has not been able to take a breather from nonstop misery ever since.

The MKO, which was once on Washington’s list of terrorist organizations, began an unsuccessful quest to find safety soon after the Iran-Iraq war ended. 

The terrorists were first relocated from their primary camp, Ashraf, in Iraq’s Diyala Province to Camp Hurriyet, a former US military base in Baghdad, where they lived under constant fear of getting targeted by Iranian forces. They were later sent to another camp in Albania until 2023 when their residence was raided by Albanian police. Some reports suggest the group should be looking for a new shelter as their kingpin, Maryam Rajavi, was banned from entering the Eastern European country and the group was put under investigation by Albania’s judiciary. 

It seems that the terrorists who thought they would be able to change the course of Iran’s history by assassinating top figures and killing innocent civilians have finally reached their end. 

 

 

PetroChina posts record profit

State-owned energy giant PetroChina, reported a record-high net profit for the first half of the year 2023, driven by increased oil and gas output and resurgent refined fuel sales.

Net profit attributable to shareholders was 85.3 billion yuan or US$11.70 billion, up 4.5% for the same period last year, according to a filing with the Hong Kong Stock Exchange on Wednesday.

Total revenue was down 8.3% to 1.48 trillion yuan, due to a sustained fall in global oil prices after an initial spike in the immediate aftermath of Russia's invasion of Ukraine in February 2022.

The company reported realized crude oil prices of US$74.15 per barrel, having slid 21.7% on the average for the same period last year.

However, PetroChina's total crude oil and natural gas equivalent output was 893.8 million barrels, representing a 5.8% increase on last year, supporting a 3.7% increase in operating profit for the group's upstream segment.

Domestic crude output rose 1.2%, whilst the development of key projects in Central Asia and the Middle East saw overseas crude production leap 27.8% over the period.

Total domestic refinery throughput for the first half was 673 million barrels, a 12.6% increase as compared to last year when extensive COVID-19 lockdowns hammered demand for refined fuel products in the country.

The group previously announced to raise crude throughput to 1.29 billion barrels this year, up 6.6% from 2022.

Operating profit from the group's sales segment jumped 28.4% as compared to last year. Total sales volume of gasoline, kerosene and diesel increased 12.9% to 80.7 million metric tons, with domestic sales accounting for around 74% of this.

While domestic demand for transport fuels such as kerosene and gasoline has rebounded with the removal of travel restrictions, the group saw weaker earnings from petrochemical products such as polypropylene, amid a glut of domestic supply.

Capex for the first half was 85.1 billion yuan, down 7.8% as compared to last year. PetroChina had previously set a capex target of 243.5 billion yuan for 2023, which would represent an 11% drop as compared to last year.

Looking forward to the second half of the year, the group stated it will further deepen cooperation in overseas oil and gas markets, actively acquire large-scale and high-quality projects and continuously optimize asset structure.

 

 

European energy crisis may be back soon

According to the Financial Trend Forecaster, European natural gas prices soared almost 40% on the risk of a global liquefied natural gas shortage. European wholesale power prices remain below the record highs of the energy crisis but have steadily climbed as the volatility in the international commodity spectrum underscores the fragility of the European energy system.

Unfortunately, the European Union bureaucrats declared the end of the energy crisis as if it were the result of decisive policy action, but the reality is that the energy problem in the EU was only diminished by purely external factors: a very mild winter and the decline in global commodity prices due to the central bank rate hikes. Thus, the energy crisis remains, and the problems of security of supply and affordability of the system persist.

The European Union’s dependency on Russian gas has not been solved; it has only been disguised by a massive increase in dependency on coal (lignite) in the case of Germany and expensive liquefied natural gas imported from the rest of the world.

At the end of 2022, Germany’s energy mix was the clearest example of its energy policy failure. Hard coal and lignite accounted for 31.2%, natural gas 13.8%, and mineral oil 0.8%, with nuclear at 6.0%. After almost 200 billion euros in renewable subsidies, Germany needs more coal and imported natural gas.

What did the government decide after facing the mistake of shutting down almost all its nuclear fleet? Double down and continue with the process of closing the remaining ones. No wonder Germany is in recession. Its industrial model requires abundant and affordable energy, and the different governments have made the cost of energy uncompetitive.

Same is the problem with Spain, the government decided to implement an “Iberian exception” that eliminates the cost of gas from the wholesale power price only to charge it back to consumers as a surcharge in the bill. The result is Spain has the fifth highest electricity bill in Europe, which sent hundreds of millions of euros to France and Portugal that purchased the subsidized energy while the Spanish consumer paid the bill to natural gas producers, and its imports of Russian liquefied natural gas (LNG) soared, but the government tried to convince citizens that LNG from Novatek is not Russian gas because it is not a pipeline Gazprom supply, even when the supplier is a leading Russian energy multinational.

Even worse, the consumers have not seen the improvement in commodities in their bills. If we look at the latest reported Eurostat figures of household electricity prices, these increased in all but two EU Member States in the second half of 2022, compared with the second half of 2021, just as commodities slumped in international markets.

The average for the EU stands at 252 euros per MWh and 261 euros per MWh for the euro area. This is 20% to 30% higher than the average residential electricity rate in the United States, according to data from Energy Sage.

The European energy crisis was not solved. It was disguised thanks to a mild winter and the slowdown in coal and gas imports from China. European governments continue to place all their bets on a misguided energy transition that ignores security of supply and competitiveness and will make the EU depend on China for rare earths and metals as well as the US and OPEC for commodities.

The European Union should have abandoned ideological decisions and allowed technology, competition, and industry to provide the optimal solution that delivers a competitive and secure supply of energy.

Deciding to forbid the development of domestic resources and focus on intermittent and volatile sources of energy before the battery technology is fully operational is an enormous mistake that condemns the European Union to suffer higher costs and lower growth. Environmental policies must be considered from a global perspective.

The EU accounts for less than 10% of global emissions but almost 100% of the cost. It needs to focus on competitiveness, security of supply, and respect for the environment from an industrial perspective. Ignoring the importance of making the most of nuclear, hydroelectric, gas, and all other available sources is dangerous.

In China or the United States, affordability, security of supply, and competitiveness are the drivers of energy policy.

In Europe, it is a misguided view of “not in my backyard” that is making the continent more dependent on others, not less. Subsidies are delaying the necessary development of intermittent and volatile energy sources because policymakers reject the importance of creative destruction and competition as driving forces of progress. Interventionism is not delivering better or cheaper energy; it is making the European Union lose in the technology and energy security race.

What does BRICS entry mean for Iran?

On August 24, 2023 BRICS adopted Iran together with five other countries as new members defying Western rhetoric and discourse. The historic enlargement of BRICS will create new opportunities and will enhance global efforts against hegemony and unilateralism.

The year 2023 marks the 17th anniversary of BRICS inception. Albeit different in geopolitical locations, political systems and cultural backgrounds, members of BRICS do share development-oriented agendas. Members are either newly emerging economies featuring high economic growth or developing countries aspiring for development.

This is sharply different from the approach of the United States and the West to shape the world with a democratic model defined by their own. In addition, they all enshrine the principle of independence in their foreign policy.

BRICS member states have been very clear that the mechanism will be inclusive adhering to the principle of multilateralism and cultural diversity. The practices of BRICS had particularly demonstrated respect for all member states. That should be one of the reasons why BRICS had proved to be attractive, particularly for countries that had long been oppressed and humiliated by Western hegemonic powers.

The development of BRICS reflected a very strong global trend of anti-hegemony and anti-unilateralism. Most BRICS members, like China, Russia and Brazil, had been vociferous about their dissatisfaction against US financial hegemony and the weaponization of dollar as a payment channel. None of the BRICS members had shared with the US and the West their discourse on the Russia-Ukraine conflicts, and none of them had sided with the US on its efforts to provoke the fire.

The Johannesburg Summit had sufficiently demonstrated the attraction of BRICS. Six countries had been admitted into the mechanisms, more than 20 countries had formally applied to enter the mechanism, more than 40 countries had expressed their wish to be part of the mechanism, and more than 60 countries across the world had participated in various activities of the Summit, which was about 30 percent of the member states of the UN.

The enlargement will predictably make BRICS more important in international affairs as the share of member states in world economy will increase significantly and the political representation of the mechanism will grow. Therefore, BRICS will not only serve to maintain the right direction of global governance in a variety of areas including trade and financial cooperation, which had become dysfunctional as a result of confrontational mentalities of some Western countries. BRICS will also boost business opportunities for both old and new industries of all their members, and will create opportunities for its member states to reshape and even reverse the unreasonable narratives of some western powers on various issues including Russia-Ukraine conflicts and other issues.

Iran’s membership will especially enhance Iran’s international status in the international community. Over the last decades, Iran has made friends across the world in defiance of the efforts of certain hegemonic powers to isolate Iran. Entering BRICS will mean new opportunities for Iran to improve its standing.

Presence of Iranian President Ebrahim Raisi at the Johannesburg summit with delegates from more than sixty countries across the world had signified another breakthrough in its diplomacy against Western efforts to isolate the Islamic Republic.

With the dual memberships in SCO and BRICS, Iran as a nation of great civilizations and economic potentials will see more opportunities to increase its international status. The leaders of BRICS countries have a valuable opportunity to leverage the space that has been created and enhance their mutual and multilateral interactions. If Iran holds SCO and BRICS summits, it will mean that dozens of heads of state and governments will travel to Tehran, which will naturally make Tehran a center of global politics and focus of international media, which will extremely nullify the efforts of the West to isolate Iran.

Multilateral diplomacy will mean natural economic opportunities. By presence at the summits, members have the opportunity to promote their business relations. Iran will also benefit from the joint efforts of de-dollarization judging by the consensus reached on this issue in Johannesburg. It should be considered that economic benefits would not come as soon as political achievements. However, it assumes that the policies adopted by Iran will contribute to the future strengthening of the country's economy.

Iran’s accession into BRICS is also a milestone in China-Iran relations. Iran’s application for BRICS membership, as well as SCO membership, not only demonstrated Iran’s identification with the principles and spirits of the BRICS, which could be generally categorized as inclusiveness, diversity and respect, but also trust for China as a major leading actor of BRICS.

China’s support for Iran’s accession very well indicated that China had been very serious in helping Iran to get further integrated with international community. Mutual trust between the two will be further enhanced after Iran’s dual memberships.

Iran’s accession will secondly enhance China-Iran cooperation on the reconstruction of international order. It had long been China’s policy to oppose sanctions against Iran and to help improve Iran’s status in the international community as the two shared a long history of peaceful exchange of civilizations and shared the same experience struggling for justice and fairness of international order.

With Iran’s membership in both SCO and BRICS, China and Iran with other countries in the two institutions, can work better together on issues relating to the great changes and reconstruction of international order.

On top of all, it will serve to materialize cooperation projects between the two countries. China and Iran both had been working hard to materialize the Comprehensive Strategic Partnership announced in 2016, the Comprehensive Cooperation Agreement in 2022 and various agreements in 2023 when President Raisi visited China.

Iran’s accession into SCO and BRICS will make these cooperations more feasible. In addition to bilateral mechanisms, leaders of the two sides will predictably meet with each other twice annually respectively within SCO and BRICS frameworks, and they can talk directly about the concrete issues, which will greatly facilitate cooperation between the two.

All in all, the enlargement of BRICS will create new momentums for global governance and the evolution of international order for the benefits of emerging economies and developing countries and the whole world as well.

Iran’s accession into BRICS, in addition to SCO, will greatly enhance Iran’s international status and will benefit Iran economically. The world will see how Iran can translate these new political momentums into economic benefits.

 

Iran demands United States should explain links with Sharmahd

The United States should explain its links with the Iranian-German national Jamshid Sharmahd sentenced to death in Iran, Tehran's foreign ministry spokesperson said on Monday, adding that progress had been made in a prisoner swap deal with Washington, reports Reuters.

Nasser Kanaani's remarks came after a US envoy for Iran, Abram Paley, met on Friday with the family of Sharmahd, who was convicted of heading a pro-monarchist group accused of a deadly bombing in 2008.

Sharmahd, who also has US residency, was sentenced to death by an Iranian Revolutionary court in February on charges of corruption on earth.

His daughter has urged Washington not to exclude Sharmahd from the developing prisoner exchange deal between the United States and Iran, under which US$6 billion in Iranian funds in South Korea would also be unfrozen.

Iran on August 10 released four imprisoned US citizens into house arrest, where they joined a fifth already under home confinement, in the first step of a deal under which the five would eventually be allowed to leave the Islamic Republic.

Kanaani said progress has been made regarding implementation of the deal, thanking the constructive role of neighbouring Gulf Arab states Qatar and Oman in facilitating the agreement.

Bangladesh faces deluge after India opens Gajoldoba barrage gates

According to media reports, the flood situation has now shifted to northern Bangladesh after recent flooding in Chittagong. This shift comes after India opened all gates of the Gajoldoba barrage, causing the waters of the region’s rivers to significantly swell.

Several areas on the bank of Teesta River in Gaibandha and Kurigram have been inundated by floods triggered by water from the upstream and heavy rains. As a result, hundreds of families have become marooned in these two districts.

Around 30 meters of the flood control spur dam in the Teesta River at Burirhat in Rajarhat upazila of Kurigram have been washed away.

Rivers in the district kept swelling due to the onrush of water from the upstream, flooding low-lying areas in Rajarhat upazila.

The Teesta was flowing 30cm above its danger level at Kawniya rail bridge point Sunday morning.

Sardar Uday Raihan, executive engineer of the Flood Forecasting and Warning Centre of the Bangladesh Water Development Board (BWDB), said that heavy rainfall in West Bengal’s Darjeeling, Jalpaiguri, and Sikkim regions has led to the surge in water levels.

However, he said, information about the opening and closing of the Gajoldoba barrage’s gates is not consistently communicated by India, making it challenging for Bangladesh to predict water level changes.

A bulletin of the Flood Forecasting and Warning Center (FFWC) said there is a chance of medium to heavy rainfall in the northwestern Indian states and adjoining Bangladesh in the next 48 hours in the Brahmaputra basin.

“Water levels of the Teesta may fall to improve the flood situation in low-lying areas of Lalmonirhat and Rangpur districts while Jamuna may flow close to its respective danger marks at several points in the next 24 hours,” the bulletin added.

In Nilphamari, at least 50 houses built under the Ashrayan Project of the government in Dimla area have gone underwater. As a result, the affected families are spending days amid great suffering. Local people said they have nowhere to go as the lone school building in the area is also underwater.

In Gaibandha, a number of houses in the low-lying areas have been inundated. Some families are also in fear of losing their homes due to river erosion.

In Kurigram, 50 houses went into the gorge of the river and 500 houses were inundated by floodwater in Bidyanondo and Ghorialdanga unions of Rajarhat upazila.

Many roads went under flood water that snapped road communication in the two unions, said members of the two union parishads.

Two government primary schools and a kitchen market in Bidyanondo union are on the brink of river erosion.

The FFWC said water levels of Jamuna River are rising and may flow close to their respective danger level at Fulchhari, Bahadurabad and Sariakandi points in the next 24 hours, the bulletin continued.

Levels of water of the Brahmaputra are rising and may flow well below the danger level at Noonkhawa, Hatia, and Chilmari points during the next 24 hours as the rate of onrushing water from upstream lessened during the last 24 hours.

 

 

Saudi Arabia launches plan to become global logistics hub

Saudi Crown Prince and Prime Minister Mohammed bin Salman, who is also chairman of the Supreme Committee for Transport and Logistics, has launched the master plan for logistics centers to make Saudi Arabia a global logistics hub.

The master plan aims to develop the infrastructure of the Kingdom’s logistic sector, as well as to diversify the local economy, and enhance the status of the Kingdom as a leading investment destination and a global logistics hub, the Saudi Press Agency reported.

The Crown Prince stressed that the plan is part of a package of ongoing initiatives set as targets by the National Transport and Logistics Strategy (NTLS) with the aim of developing the logistical sector to support the economy, as well as to increase the local, regional and international connections of the international trade networks and global supply chains. It also aims to boost the partnership with the private sector, and thus increase the opportunity to generate jobs, and make Saudi Arabia a global logistics hub, given its geographical location among three important continents: Asia, Europe and Africa.

The master plan for logistics centers stipulates 59 centers with a total area of more than 100 million square meters, including 12 in Riyadh region; 12 in Makkah region; 17 in the Eastern Province, and 18 distributed in the rest of the Kingdom. There are currently 21 centers under various phases of implementation and all centers will be completed by 2030.

The centers will also enable local industries to export Saudi products with high efficiency, support e-commerce by facilitating a rapid link between logistics centers and distribution centers in the Kingdom’s various regions, cities and governorates, as well as to provide high traceability and facilitate the issuance of licenses to practice logistic activity. This is especially after the launch of the unified logistics license and the licensing of more than 1,500 local, regional and international logistics companies, and the launch of the Fasah initiative, which is an e-system integrated in Saudi customs, in cooperation with the concerned government agencies.

The logistics services sector represents one of the promising pillars of economic diversification and development in the Kingdom. It is currently witnessing many important initiatives and major developments aimed at developing the sector and expanding its economic and developmental contributions. The Ministry of Transport and Logistics seeks to develop the logistics industry, enhance the export strategy, expand investment opportunities, and seal partnerships with the private sector.

 

US growth a puzzle for policymakers

US economic growth, still racing at a potentially inflationary pace as other key parts of the world slow, could pose global risks if it forces Federal Reserve officials to raise interest rates higher than currently expected. The longer the US economy outperforms, the more Fed officials wonder if they understand what's happening.

The Fed's aggressive rate increases last year had the potential to stress the global financial system as the US dollar soared, but the impact was muted by largely synchronized central bank rate hikes and other actions taken by monetary authorities to prevent widespread dollar funding problems for companies and offset the impact of weakening currencies.

Now Brazil, Chile and China have begun cutting interest rates, with others expected to follow, actions that international officials and central bankers at last week's Jackson Hole conference said are largely tuned to an expectation the Fed won't raise its rate more than an additional quarter percentage point.

While US inflation has fallen and policymakers largely agree they are nearing the end of rate hikes, economic growth has remained unexpectedly strong, something Fed Chair Jerome Powell noted in remarks on Friday could potentially lead progress on inflation to stall and trigger a central bank response.

That sort of policy shock, at a moment of US economic divergence with the rest of the world, could have significant ripple effects.

"If we get to a point where there is a need for ... doing more than what's already priced in, at some point markets might start getting nervous ... Then you see a big increase in the risk premia in different asset classes including emerging markets, including the rest of the world," said International Monetary Fund chief economist Pierre-Olivier Gourinchas. "The risk of a financial tightening, a very sharp financial tightening, I think we cannot rule that out."

After the pandemic shock and the inflationary rebound that had most countries raising rates together, it's normal now for policies to diverge, Cleveland Fed President Loretta Mester told Reuters on the sidelines of the Jackson Hole conference on Saturday.

"The economy is a global economy, right? It's an interconnected economy," Mester said. "What we do with our policy - if we can get back to 2% in a timely way, in a sustainable way, if we have a strong labor market - that's good for the global economy."

Fed policymakers will deliver a crucial update to their economic outlook at the 19-20 September meeting, when they are expected to leave their policy rate unchanged at 5.25% to 5.5%.

Yet Fed officials remain puzzled, and somewhat concerned, over conflicting signals in the incoming data.

US gross domestic product is still expanding at a pace well above what Fed officials regard as the non-inflationary growth rate of around 1.8%. US GDP expanded at a 2.4% annualized rate in the second quarter, and some estimates put the current quarter's pace at more than twice that.

The contrast with other key global economies is sharp. The euro area grew at an annualized 0.3% in the second quarter, essentially stall speed. Difficulties in China, meanwhile, may drag down global growth the longer they fester.

European Central Bank President Christine Lagarde noted after the Russian invasion of Ukraine last year, the outlook was for a euro-area recession, and a potentially deep one in parts of it.

"We expected all that to be a lot worse. It has turned out to be much more robust, much more resilient," Lagarde said.

U.S. fiscal policy is driving some of the difference with $6 trillion in pandemic-era aid still bolstering consumer spending. A recent investment push from the Biden administration is supporting manufacturing and construction.

China may also play a role, economists say. Its slowdown after a short-lived growth burst earlier this year could pinch Germany's exports and slow Europe's growth, for instance.

But, Citigroup Chief Economist Nathan Sheets said, "When you hear economists give you three or four reasons for something, that's usually because we really don't know."

Iran's BRICS membership a nail in the coffin of United States sanctions

Vahid Jalalzadeh, Chairman of the Parliament’s National Security and Foreign Policy Committee, said, “Iran’s membership in BRICS is a nail in the coffin of the unilateral sanctions of the United States.”

“One of the main features of the new world order is the strengthening and expansion of the front of resistance against the domination system, the decline of America and the transfer of knowledge and wealth from the West to the East,” he told state news agency IRNA. 

Jalalzadeh added, “BRICS and the Shanghai Cooperation Organization (SCO) are definitely a front against the excesses of the domination system, particularly America.”

Jalalzadeh emphasized that BRICS, Shanghai, and Eurasia are the code names for the failure of Western sanctions.

“The neutralization of sanctions in the era of the formation of the new global geometry means the era of entering regional and international agreements, coalitions and unions. And this means the end of unilateralism,” he continued.

Hossein Qaribi, Iranian Ambassador to Brazil, has also said that Iran’s BRICS membership was the result of months of intense diplomatic efforts by the Ebrahim Raisi administration.

“Iran's membership in the BRICS group is a happy event that is the result of months of efforts and intensive diplomatic measures by the 13th government, the Ministry of Foreign Affairs and the Iranian embassies in five member countries of that group,” Qaribi said in remarks to IRNA. 

He added, “Practically, the policy of strengthening multilateralism in the international system is better realized by advancing the goals of BRICS. In addition, it should be noted that the capacities that exist in the Islamic Republic of Iran will also be available to this group, and with development-oriented planning, it will lead to an increase in business interactions among its members.”

Foreign Minister Hossein Amir Abdollahian has lauded the bloc for deciding to move towards expansion. “In addition to strengthening multilateralism, the great success of accepting Iran’s membership in BRICS can provide the basis for the pursuit of goals and the development of other macro strategies of the government in the implementation of dynamic diplomacy,” the top diplomat wrote on X.

During a BRICS summit held in Johannesburg, South African President Cyril Ramaphosa announced the BRICS member states have agreed to admit Iran, Argentina, Egypt, Ethiopia, the UAE and Saudi Arabia as full members. That means the bloc currently consisting of Brazil, Russia, India, China and South Africa, will double in the number of members as of the beginning of next year.

Iranian President Ebrahim Raisi who had traveled to South Africa to attend the summit called the advantages of Iran's membership in the bloc “history-making”. 

“Strategic cooperation between Iran and BRICS members in the fields of transit, energy, and trade, will support the BRICS global agenda. The Islamic Republic of Iran strongly supports the successful efforts of BRICS in the path of de-dollarization of economic relations between members, the use of national currencies, as well as the strengthening of BRICS mechanisms for payment and financial settlement,” Raisi told the BRICS summit.

 

Israel: Pure right wing government is a complete disaster

Dr. Micah Goodman, the Israeli philosopher, and founder of the Ein Prat pre-army preparatory program, has a surprisingly optimistic assessment of the future of Israel, even in the midst of the breakdown of unity that the judicial reform has fostered since initiated earlier this year.

Goodman is opposed to the judicial overhaul. He’s under no illusions that as long as this coalition remains in power, the coming years will likely be an ongoing hellscape of unilateral attempts at grabbing power and abusing minority rights, countered by continued civil insurrection.

Goodman says, when this coalition is no longer in power – and that day will come, if not tomorrow, when elections are called again – Israel that emerges will be profoundly changed. The processes that have fueled the outrage will lead to a new age of realism. 

Israel is about to go through a very similar experience that led to the collapse of the Left following the deadly years of the Second Intifada.

“This very extreme government was, for many years, a fantasy among circles of the Right,” says Goodman. “This fantasy has a name in Hebrew, memshelet yamin al-male, basically, a pure right-wing government. And this fantasy was very helpful for the Right because it was a great answer to a question ‘You’re in government for 40 years – why isn’t Israel the paradise you promised us it’s going to be? Why are there still traffic jams, security issues, economic issues?’”

The Right’s answer, “Well, we were never really in power. We always had a centrist or a liberal there to neutralize our power, to block us, to stop us from doing what we think we should do. [But] one day we’ll get what we want. We’ll have a massive majority. We won’t have to join with any centrist in the coalition. We’ll have a pure right-wing government, and then you’ll see what Israel will look like.’”

The long-awaited right-wing government has been a total disaster.

Most Israelis would agree – including many on the Right – that it’s been a complete and total disaster. 

The way changes to the judiciary have been pushed through without compromise or conversation; the hateful statements emanating from coalition leaders’ mouths on a daily basis; the branding of Israel’s most patriotic citizens as traitors, refuseniks, and anarchists; the growing police brutality; the economic and diplomatic devastation – all of these, Goodman says, show what a fully right-wing government is really like.

Fifty-four percent of Israelis say they oppose the recently passed law canceling the court’s ability to apply a reasonableness standard. That may seem like a slim majority, but it is 20 points higher than those who support it. 

Going forward, just 16% of Israelis want the government to legislate without an agreement.

The mask has been ripped off, and the fantasy has been shown to be untenable. Goodman says, is not unlike the 1990s when a similar fantasy – that of the Left – had us believing we’d soon be driving to Damascus for hummus.

“The best way to destroy a fantasy is to implement it,” Goodman says. “And now we’re living the fantasy, we’re living the dream. And many people… including on the Right, including Religious Zionists, including Likud voters…this does not look to them like a utopia. This looks to them like a dystopia.”

And what happens “the day after this government is over?” Goodman asks. “The idea of a pure extreme right-wing government will not be a fantasy. It will be a bad memory.”

Wouldn’t it be better to get to that point without having to create a balance of trauma in the meantime? But the Left has long been eviscerated. For healing to occur, the fantasies of the extreme Right must share the same fate. Only out of such mutual disillusionment can a true center arise. 

“Many people on the Right will not want to replicate this experiment,” Goodman asserts.

Goodman isn’t dismissing the idealism of either the Left or the Right. But “when you fall in love with an idea, you become blind to reality. You love the ideology. You really want it to become a reality. So, you don’t listen to reality itself.”

Does this mean the Right will soon disappear like the Left in this country? Not quite, Goodman says. What will be off the table in the future, though, is “a coalition with the extreme Right.” (Ditto for the extreme Left – not that it has any power these days.)

 “We needed judicial reform,” writes Daniel Gordis on his Substack page. “Almost everyone knows that.” (Polls have shown that some 60% to 70% of Israelis are in favor of some sort of change to the judiciary.) “But we needed unity more than that. We could have had both.”

“Sustaining mass mobilization, particularly in the face of intensifying repression,” writes Maria J. Stephan, who co-authored Why Civil Resistance Works, The Strategic Logic of Nonviolent Conflict, requires investment in organizing infrastructure, training, and a commitment to nonviolent discipline.

Getting there won’t be easy. But for the first time in weeks – months, really – I feel just the teensiest bit better about the future of Israel.

Courtesy: The Jerusalem Post

DP World to invest half a billion dollars in India

Dubai-based ports giant DP World will invest around US$510 million to build a new container terminal at the Kandla port in the Indian state of Gujarat, its group chairman said on Friday.

"It will enable the delivery of trade opportunities by connecting northern, western and central India with global markets," Sultan Ahmed Bin Sulayem, who is also DP World's CEO, said after the signing of an agreement between the Deendayal Port Authority and DP World officials.

The Indian government earlier this year approved a plan by Hindustan Infralog, a joint venture between DP World and the state-owned National Investment and Infrastructure Fund, to develop the terminal on a Build-Operate-Transfer (BOT) basis.

DP world, which operates in 73 countries, last week reported a nearly 10% fall in first-half profit to US$651 million despite a 13.9%YoY rise in revenue to more than US$9 billion.

The new terminal, which should be completed by early 2027, will boost container traffic in India and reduce the cost of logistics, company officials said.

DP World operates five container terminals in India – two in Mumbai and one each in Mundra, Cochin and Chennai – with a combined capacity of about 6 million twenty foot equivalent units (TEUs), giving it a market share of 28% of container traffic volume in the country. The new terminal will take the combined capacity to 8.19 million TEUs, a company statement said.

DP World’s Indian port and terminal investments are aligned with the country's Vision 2047, which aims to quadruple port handling capacity and develop logistics infrastructure to boost economic growth, the statement said.

 

Pests carried in containers and bulk cargoes can cause billions of dollars in crop damage

According to the Seatrade Maritime News shipping lines, shippers, and governments are working together to combat the global issue of pests carried in containers and bulk cargoes that can cause billions of dollars in crop damage.

The spread of invasive species via the containerized supply chains is becoming increasingly recognized as a major concern by governments and as Seatrade Maritime News reports Australia and NZ, which have strong bio-security concerns, already have seasonal measures in place to combat the importation of the brown marmorated stink bug.

Given the global concerns there are ongoing discussions between shipping lines, shippers and government representatives and other supply chain stakeholders to introduce measures that will mitigate the chances of costly infestations.

Any new measures are likely to have some slowing effect on the movement of freight through supply chains and will add to costs.

A specialist conference held in London last year, with a follow-up meeting in Brisbane in July this year, saw the Sea Containers Task Force, organized by the International Plant Protection Convention (IPPC) an arm of the UN’s Food and Agriculture Organization, look at possible measures to prevent the spread of invasive species on transport containers.

Ahead of last year’s London conference IPPC secretary Dr. Osama El-Lissy said, “Invasive pests remain the main drivers of biodiversity loss. As the world becomes more globalised and interconnected, the increase in the movement of people and goods has been associated with the rise of the introduction and spread of plant pests across borders.”

According to El-Lissy every year as much as 40% of global crops, valued at around US$220 billion, are lost due to invasive pests.

This year the Task Force saw the Global Shipper’s Forum (GSF) chair Paul Zalai and Lars Kjaer of the World Shipping Council (WSC) tender proposals that will help container supply chain stakeholders to tackle the problem of invasive pests.

One of the longer-term proposals, is to transition from wooden floored containers to steel and composite floors.

GSF director James Hookham points out, “Wooden floored containers can harbour pests such as khapra beetles, whose larvae can lie dormant in wood for long periods of time.”

Such a move to steel and composite flooring in containers will take time so in the interim to stem the flow of invasive species the Brisbane Sea Container discussions centered around, custodial responsibility and other measures that can be used to cut the levels of hitchhiking bugs.

Anna Larsson, a spokeswoman for WSC, told Seatrade Maritime News, “The design of the containers, such as materials used, especially for flooring, and design details are an important aspect in preventing pest transfer.”

Indications show that newer container floor options like steel or floors with no cracks and crevices are less susceptible to enabling the spread of pests. More testing work needs to be done on this issue said Larsson.

Cleaning containers

Another issue raised in Brisbane has been custodial responsibility, which requires each stakeholder in the supply chain to inspect and clean the container before passing the box on to the next stakeholder.

Larsson said, “WSC has long been advocating the importance of all parties in the supply chain taking custodial responsibility for their part of the chain. Together with targeted inspection and treatment schemes for containers and cargoes this is an effective and efficient way of reducing the risk of hitchhiker pests.”

Additionally, there was advice that loading should take place with regard to minimizing the attraction of bugs to the container, so not under lights in the dark, and on hard standings rather than mud or grass.

Moreover, Zalai, proposed that shipping lines publish data on each container online, which can be accessed via a search using the boxes’ serial number.

That will allow shippers to look at the container’s history when the shipping line offers it as an empty box to ship cargo to its client. Data such as the recent history of where the box has travelled, what cargo was carried and when it was last cleaned and how, would assist shippers in deciding whether the container posed a higher or lower risk of contamination of their freight.

Shipping lines are on board with this view, said Larsson. “During the recent IPPC workshop, Australia again raised the idea of data on historic container movements, to assist in the risk assessment for targeting of inspections. WSC is very willing to work with regulators and others in developing such a considered system for historic container movements that is accepted globally. We are now awaiting feedback from regulators on key critical elements such as how long the period to be covered should be and what data elements they would like to include. “

The WSC concluded, “We are happy to be working together with GSF on the important topic of pest prevention. Shippers and carriers coming together around the importance of each party in the supply chain taking custodial responsibility for their containers and cargoes being pest free is great progress in reducing the risk of pest transfers.”

 

Saudi foreign trade grows to US$172 billion

Saudi Minister of Commerce and Chairman of the Board of Directors of the General Authority of Foreign Trade, Dr. Majid Al-Qasabi, said that the Kingdom's foreign trade in a year amounted to US$172 billion.

He made these remarks at the G20 Trade and Investment Ministers' meeting, which was held on 24-25 August 2023 in Jaipur, India.

During the session on "Trade for Growth and Prosperity, and WTO Reforms," he reviewed the impact of reforms on the Saudi economy in light of the Kingdom's Vision 2030, which offers significant initiatives to increase the integration of the Saudi economy regionally and globally.

He said that the volume of non-oil exports grew by 40% between 2018-2022 to US$28.7 billion, while the value of loans provided by the Saudi Export-Import Bank were reported at US$4.6 billion.

The minister added that the total number of small and medium enterprises in the Kingdom has reached 1.2 million, providing 80% of the jobs, and the annual growth of e-commerce reached 33% during 2016-2022.

Dr. Al-Qasabi stressed that the Kingdom made major gains as a result of the reforms it has undertaken during the past years, reflected in enhancing its competitiveness, as it ranked second among the G20 countries in digital competitiveness, as per the Digital Riser 2021 report and ranked sixth among 50 emerging countries in the "Agility" index for emerging markets for the year 2022.

The minister also said that the Kingdom ranked 17th among 64 countries in the World Competitiveness Yearbook (IMD) report for 2023 and 38th out of 138 per the Logistics Performance Index for 2023.

This year's G20 meetings are hosted in India under the theme "One Earth, One Family, One Future" to build a strong and developed global economy.

Pakistan Stock Exchange witnesses lackluster week

The week ended on August 25, 2023 remained lackluster, with the KSE-100 index losing 547 points to close at 47,671 level.

The anticipation of heightened inflation had a negative impact on the market, fearing an ad-hoc policy rate hike. However, the recent T-bill auction negated that sentiment, with yields largely maintaining their flat trend as compared to the previous auction.

Now the focus is on September 2023 CPI data and the Monetary Policy Committee meeting scheduled for September 14, 2023.

Nonetheless, owing to a week full of result announcements, market participation witnessed daily trading volume averaging at 206 million shares, as compared to the previous month average of 167 million shares.

The current account shifted from a four-month streak of surplus to a deficit of US$809 million, mainly due to an increase in imports (up 33%MoM) and worker remittances (down 15%MoM) during the month.

Foreign exchange reserves held by the SBP eroded by US$125 million to US$7.9 billion as of August 18, 2023. Additionally, due to import pressures and dividend repatriations, PKR depreciated by 1.74%WoW, to close at PKR301 against the greenback.

Furthermore, throughout the trading week, the gap between the interbank and open market exchange rates remained 4% to 5%. According to the IMF agreement, this gap should not be ±1.25% for 5 consecutive days.

Other major news flows affecting market during the week included: GoP borrowed US$2.89 billion borrowed from multiple financing sources during the first month of the current financial year, 2) Revised GDP growth under PDM government may turn out to be over negative one percent, 3) Power tariff hike, 4) Banking sector spread decreases by 64bps MoM in July, 5) Power generation was up 5% and cost of generation was down 22 percent, 6) RDA inflows touched US$6.487 billion, but faced headwinds from global rates, 7) Election Commission said election not possible before May 2024.

Synthetic & Rayon, Textile Weaving, and REIT were amongst the top performing sectors, while Cable & Electrical Goods, Pharmaceuticals, and Inv. banks/ Inv. cos./ Securities cos. were amongst the worst performers.

Net selling was recorded by Individuals with a net sell of US$8.2 million. Insurance absorbed the selling with a net buy of US$19.0 million.

Top performing scrips during the week were: SCBPL, HMB, IBFL, BAFL, and MARI, while top laggards included: AGP, PSX, GADT, PAEL, and FABL.

Market is expected to sustain a positive outlook, driven by a series of favorable developments with talks being commenced between the IMF and the caretaker government and the confidence of bilateral partners.

Given the ongoing trend of significant currency devaluation, analysts recommend investors to consider investing in companies with revenue in US$ (Tech and E&Ps). Another viable approach is to focus on companies that offer healthy dividend yields or companies with strong valuations.

 

 

 

 

Turkey: Navigation affected due to wildfires

More than 150 vessels, including 23 tanker and 33 dry bulk vessels were halted at the northern and southern entrances of Turkey’s Dardanelles straits amidst raging wildfires in coastal regions, with northbound shipping resuming by late Thursday

Ship traffic resumed on Thursday in one direction in Turkey's Dardanelles Strait, its forestry minister said, as firefighters brought a major blaze in the northwest Canakkale region under control.

The strait, which links the Aegean Sea and Black Sea to the north, is a major shipping route for commodities such as oil and grains.

More than 150 ships had been halted at the north and south entrances to the Dardanelles on Wednesday evening to allow for helicopters and planes to scoop up water to douse the flames.

"We have brought the fire under control before 48 hours were up ... Our only consolation is that there has been no loss of life," Forestry Minister Ibrahim Yumakli told reporters.

Aerial vehicles will continue cooling efforts throughout the day on Thursday and ship traffic in the Dardanelles resumed in one direction, he said, without specifying which one.

Shipping agency Tribeca said northbound ships would be allowed to transit the Dardanelles after 0800 GMT on Thursday.

Helicopters and land vehicles battled after darkness fell on Wednesday to contain the fire and ship traffic resumed for several hours before being halted again just after midnight GMT.

More than 1,200 people from 11 villages have been evacuated from the path of the fire, which broke out in Cannakale province on Tuesday and was fanned by high temperatures, dry air and strong winds.

Some 90 people suffered injuries from the fire, which affected 4,080 hectares around 11861 acres, including forest and agricultural land, authorities said. No deaths were reported.

 

Iran completes drilling of 42 oil and gas wells

National Iranian Drilling Company (NIDC) has completed drilling operations of 42 oil and gas wells during the first five months of the current Iranian calendar year.

According to Masoud Afshar, Deputy Head of NIDC for drilling operations, three of the drilled wells were development and the rest were work-over ones, Shana reported.

The official stated that during the mentioned time span NIDC managed to dig eight more wells as compared to the figure for the same period last year.

As reported, 35 of the drilled wells were in the operational zone of the National Iranian South Oil Company (NISOC), one well was drilled in the fields under the supervision of the Iranian Offshore Oil Company (IOOC), three were in the fields under the operation of Petroleum Engineering and Development Company (PEDEC), and three wells were drilled in fields developed by private contractors.

According to the official, currently, 63 of the company’s rigs are active and 10 are being overhauled.

Over 43,416 meters of drilling were conducted for the mentioned wells, the official said, noting, “We are trying to play our role optimally by using the company’s maximum operational capacities in order to realize the Oil Ministry's plans to increase production.”

Considering the National Iranian Oil Company (NIOC)’s strategies for strengthening the presence of domestic companies in the development of the country’s oil fields, NIDC, as a major NIOC subsidiary, has been supporting such companies by lending those drilling rigs and other necessary equipment.

 

BRICS getting bigger to reshuffle world order

Major emerging market nations invited top oil exporter Saudi Arabia, along with Iran, Egypt, Argentina, Ethiopia and the United Arab Emirates, to join their bloc in an ambitious push to expand global influence. The new BRICS members bring together several of the largest energy producers with the developing world’s biggest consumers, suddenly giving the bloc outsized economic clout. With most of the world’s energy trade taking place in dollars, the expansion could also enhance its ability to push more trade to alternative currencies.

In deciding in favour of an expansion - the bloc's first in 13 years - BRICS leaders left the door open to future enlargement as dozens more countries voiced interest in joining a grouping they hope can level the global playing field.

The expansion adds economic heft to BRICS, whose current members are China, Brazil, Russia, India and South Africa. It could also amplify its declared ambition to become a champion of the Global South.

The long-standing tensions could linger between members who want to forge the grouping into a counterweight to the West - notably China, Russia and now Iran - and those that continue to nurture close ties to the United States and Europe.

"This membership expansion is historic," Chinese President Xi Jinping, the bloc's most stalwart proponent of enlargement, said. "It shows the determination of BRICS countries for unity and cooperation with the broader developing countries."

Originally an acronym coined by Goldman Sachs chief economist Jim O'Neill in 2001, the bloc was founded as an informal four-nation club in 2009 and added South Africa a year later in its only previous expansion.

The six new candidates will formally become members on January 01, 2024, South African President Cyril Ramaphosa said when he named the countries during a three-day leaders' summit he is hosting in Johannesburg.

"BRICS has embarked on a new chapter in its effort to build a world that is fair, a world that is just, a world that is also inclusive and prosperous," Ramaphosa said.

"We have consensus on the first phase of this expansion process and other phases will follow."

The countries invited to join reflect individual BRICS members' desires to bring allies into the club.

Brazilian President Luiz Inacio Lula da Silva had vocally lobbied for neighbour Argentina's inclusion while Egypt has close commercial ties with Russia and India.

The entry of oil powers Saudi Arabia and UAE highlights their drift away from the United States' orbit and ambition to become global heavyweights in their own right.

Russia and Iran have found common cause in their shared struggle against US-led sanctions and diplomatic isolation, with their economic ties deepening in the wake of Moscow's invasion of Ukraine.

"BRICS is not competing with anyone," Russia's Vladimir Putin, who is attending the summit remotely due to an international warrant for alleged war crimes, said on Thursday.

"But it's also obvious that this process of the emerging of a new world order still has fierce opponents."

Iran's President Ebrahim Raisi celebrated his country's BRICS invitation with a swipe at Washington, saying on Iranian television network Al Alam that the expansion shows that the unilateral approach is on the way to decay.

Beijing is close to Ethiopia and the country's inclusion also speaks to South Africa's desire to amplify Africa's voice in global affairs.

United Nations Secretary-General Antonio Guterres attended Thursday's expansion announcement, reflecting the bloc's growing influence. He echoed BRICS' longstanding calls for reforms of the UN Security Council, International Monetary Fund and World Bank.

"Today's global governance structures reflect yesterday's world," he said. "For multilateral institutions to remain truly universal, they must reform to reflect today's power and economic realities."

BRICS countries have economies that are vastly different in scale and governments with often divergent foreign policy goals, a complicating factor for the bloc's consensus decision-making model.

Though home to about 40% of the world's population and a quarter of global gross domestic product, internal divisions have long hobbled BRICS ambitions of becoming a major player on the world stage. It has long been criticized for failing to live up to its grand ambitions.

The regularly repeated desire of its member states to wean themselves off the dollar has never materialized. Its most concrete achievement, the New Development Bank, is now struggling in the face of sanctions against founding shareholder Russia.

Bloc heavyweight China has long called for an expansion of BRICS as it seeks to challenge Western dominance, a strategy shared by Russia.

Other BRICS members support fostering the creation of a multi-polar global order. But Brazil and India have both also been forging closer ties with the West.

Brazil's Lula has rejected the idea that the bloc should seek to rival the United States and Group of Seven wealthy economies. However, as he departed South Africa on Thursday, he said he saw no contradiction in bringing in Iran - a historical arch-foe of Washington - if it advanced the cause of the developing world.

"We can't deny the geopolitical importance of Iran and other countries that will join BRICS. ... What matters is not the person who governs but the importance of the country."

 

United States seeking military cooperation with Bangladesh

A two-day bilateral dialogue between Bangladesh and the United States began in Dhaka today with an aim to discuss cooperation on a myriad of defence topics. The aim of this dialogue is to create an opportunity for wide-ranging discussions on military cooperation between the two countries, said ISPR.

The dialogue will officially end on August 24.

Director General at the Bangladesh Armed Forces Division Brig Gen Husain Muhammad Masihur Rahman is leading the Bangladesh side while Director of Strategic Planning and Policy of the US Indo-Pacific Command Brig Gen Thomas J James is leading the US delegation.

Senior officials of the Ministry of Foreign Affairs, Armed Forces Division, Border Guard Bangladesh, and Bangladesh Coast Guard were present on behalf of Bangladesh.

 “The United States and Bangladesh share a vision to ensure the Indo-Pacific region is free, open, peaceful, and secure. In pursuit of these mutual objectives, the Bangladesh Armed Forces Division and Indo-Pacific Command will conduct the bilateral defence dialogue in Dhaka,” US Embassy Spokesperson Bryan Schiller said.

This dialogue, he said, will feature senior officers and civilians from the US and Bangladeshi militaries.

“They will discuss military education, defence articles, and upcoming military exercises, including next year’s disaster response exercise and exchange,” said the spokesperson.

This dialogue, he said, is part of a comprehensive relationship between two countries’ defence establishments, which features cooperation on a myriad of defence topics.

The US said they are encouraged that Bangladesh’s Indo-Pacific Outlook declares Bangladesh’s vision for a “free, open, peaceful, secure, and inclusive Indo-Pacific for the shared prosperity for all.

The bilateral defence dialogue between Bangladesh and the US started with a joint declaration in 2012. Since then, every year, the dialogue has taken place alternately in Bangladesh and the USA. The 9th defence dialogue was held on 17-18 May 2022 at Honolulu, Hawaii.

The purpose of this dialogue was to facilitate a broad discussion on bilateral defence and military cooperation as a complement to the strategic dialogue.

Over the years, the two countries have enjoyed cordial diplomatic relations and partnered on a wide range of security issues, including border security, maritime security, counterterrorism, peacekeeping, defence trade, and defence institution building.

The two governments continue to work together to advance a shared vision of a free, open, inclusive, peaceful, and secure Indo-Pacific region.

Earlier, the US delegation had a courtesy meeting with Principal Staff Officer (PSO) of the Armed Forces Division Lieutenant General Waker-Uz-Zaman.