VIENNA: Iran and world powers will meet in Vienna on Monday to try to salvage their 2015 nuclear deal, but with Tehran sticking to its tough stance and Western powers increasingly frustrated, hopes of a breakthrough appear slim.
Diplomats say time is running low to resurrect the pact, which then-US President Donald Trump abandoned in 2018, angering Iran and dismaying the other powers involved — Britain, China, France, Germany and Russia.
Six rounds of indirect talks were held between April and June. The new round begins after a hiatus triggered by the election of hard-line cleric Ebrahim Raisi in June as Iran’s president.
Tehran’s new negotiating team has set out demands that US and European diplomats consider unrealistic, Western diplomats say.
“Our demands are clear. Other parties and especially Americans should decide whether they want this deal to be revived or not. They abandoned the pact, so they should return to it and lift all sanctions,” an Iranian official close to the talks told Reuters.
Iran’s demands include the dropping of all US and European Union sanctions imposed since 2017, including those unrelated to Iran’s nuclear program, in a verifiable process.
Iran’s foreign ministry ruled out the possibility of direct meeting between Iranian and US officials in Vienna. Talks between Iran and world powers will resume at 1300 GMT on Monday.
In parallel, Tehran’s conflicts with the UN atomic watchdog, which monitors the nuclear program, have festered.
Iran has pressed ahead with its uranium enrichment program and the IAEA says its inspectors have been treated roughly and refused access to reinstall monitoring cameras at a site it deems essential to reviving the deal.
“If Iran thinks it can use this time to build more leverage and then come back and say they want something better, it simply won’t work. We and our partners won’t go for it,” US envoy Robert Malley told BBC Sounds on Saturday.
He warned that Washington would be ready to ramp up pressure on Tehran if talks collapse.
Iranian officials have insisted in the run-up to Monday that their focus is purely the lifting of sanctions rather than nuclear issues. Highlighting that, its 40-strong delegation mostly includes economic officials.
“To ensure any forthcoming agreement is ironclad, the West needs to pay a price for having failed to uphold its part of the bargain. As in any business, a deal is a deal, and breaking it has consequences,” Iran’s top nuclear negotiator, Ali Bagheri Kani said in defiant column in the Financial Times on Sunday.
“The principle of ‘mutual compliance’ cannot form a proper base for negotiations since it was the US government which unilaterally left the deal.”
Diplomats have said Washington has suggested negotiating an open-ended interim accord with Tehran as long as a permanent deal is not achieved.
Failure to strike a deal could also prompt reaction from Israel which has said military options would be on the table.
“The talks can’t last forever. There is the obvious need to speed up the process,’ Moscow’s envoy, Mikhail Ulyanov, said on Twitter.
West asks whether Iran is serious or stalling as talks set to resume
https://arab.news/6u3ts
West asks whether Iran is serious or stalling as talks set to resume
Swiatek not expecting WADA appeal over doping scandal
- Pole tested positive for the heart medication trimetazidine in an out-of-competition sample in August when she was ranked number one
The 23-year-old Pole tested positive for the heart medication trimetazidine (TMZ) in an out-of-competition sample in August when she was ranked number one.
However, the International Tennis Integrity Agency (ITIA) accepted that the violation was not intentional and she escaped with a one-month sanction that saw her miss three tournaments in Asia and lose her top ranking.
News of the saga only emerged in late November and she will play her first tournament since then at the mixed-teams United Cup in Sydney ahead of the Australian Open next month.
Swiatek said that, while the incident had been “mentally tough,” the public response had been generally positive, allaying fears that she would be ostracized.
“I think people, most of them, are understanding,” said the five-time Grand Slam champion.
“And the ones who read the documents and are aware of how the system works, they know that I had no fault and I had no influence on what was going on.
“I try to just go on with my life and focus on different things, focus on preparing for the season and on tennis, because this is the best thing you can do after a case like that,” she said.
Her case is similar to that of Italian men’s world number one Jannik Sinner.
He was exonerated by the ITIA for twice testing positive for traces of the steroid clostebol in March. But WADA appealed against the decision in September and he is awaiting the outcome.
Swiatek said she does not anticipate WADA will follow the same path with her.
“I gave every possible evidence and there is not much, honestly, more to do,” she said.
“There is no point to do an appeal in our opinion.
“But, you know, I guess overall, this whole process was pretty abstract sometimes and hard to understand from a point of view where you don’t think about the law and everything.
“But honestly, this is about the law and the wording and this kind of stuff. So I’m not expecting an appeal, but I have kind of no influence on what’s going to happen.
“But I can say from the processes that I went through and how they treated me from the beginning, that it seemed fair for me,” she said.
“I managed to give the source (of the contamination) pretty quickly. That’s why the case closed, pretty quickly.”
Saudi Arabia introduces new laws to streamline business registration and trade names
RIYADH: Saudi Arabia’s new regulations designed to streamline commercial registration and trade name processes have been described as a “game-changer” for entrepreneurs.
Approved in September, the laws are set to come into force in the coming weeks and aim to enhance business efficiency and improve the overall commercial environment.
Experts have told Arab News that the new regulations will help encourage small businesses, particularly those led by women — key components of the Kingdom’s Vision 2030 economic diversification strategy.
In the first quarter of 2024 alone, the trade sector saw 104,000 new commercial registrations, marking a 59 percent increase compared to the same period in 2023. The Ministry of Commerce also issued 65,363 permits during this time last year.
When the changes were announced, Minister of Commerce Majid bin Abdullah Al-Qasabi said they were designed to simplify business operations by offering a unified national registration system.
Ryan Al-Nesayan, partner at business intelligence firm Arthur D. Little, hailed these regulations as a “game-changer,” stating that by simplifying and speeding up the registration process, the new laws eliminate bureaucratic bottlenecks that previously slowed down business launches.
He told Arab News: “This is especially important for startups where every delay can cost momentum. Entrepreneurs can now get their ventures off the ground quickly, focusing on growth rather than navigating paperwork.”
Al-Nesayan noted that the sharp rise in business registrations is a clear indication that Saudi Arabia is becoming a magnet for entrepreneurial activity. He attributes this growth to the government’s focus on business-friendly reforms and Vision 2030 initiatives, which are creating a more streamlined business environment.
Notably, women received 44 percent of the new registrations in the first three months of 2024, underscoring a significant rise in female participation in the business world.
Al-Nesayan emphasized the importance of this statistic, pointing out that the new regulations are removing barriers that previously discouraged female entrepreneurs.
He added: “As the environment becomes more accessible, we’re likely to see continued growth in women-led businesses, which supports gender inclusivity in Saudi Arabia’s economic development.”
The introduction of these regulations brings the total number of commercial certificates issued across Saudi Arabia to over 1.45 million.
Jihad Chidiac, a Lebanon-based attorney, explained that the two new laws, the Commercial Registration Law and the Trade Names Law, are set to take effect 180 days after their publication in the official gazette, which is expected within the next few weeks.
These laws will fully replace older legislation, with the current Law of Commercial Register having been in effect since 1995 and the Trade Names Law issued in 1999.
According to Chidiac, the introduction of these two laws “comes in alignment with the recent legal reforms the Kingdom is undertaking, including the new Investment Law permitting full foreign ownership of companies, and the amendment of the Labor law, while having as the main goal the implementation of Vision 2030 and the attraction of foreign investments into the Kingdom.”
Chidiac further elaborated that the new Trade Names Law specifically enhances the legal protection of intellectual property, making it easier for businesses to reserve, transfer, and protect their trade names.
He noted that the new law “prohibits the registration of names similar to existing ones regardless of different business activities, and simplifies the transfer of trade name ownership without requiring the transfer of the entire business.”
This step, according to Chidiac, is aimed at reducing conflicts and enhancing fair competition by encouraging businesses to adopt unique, distinctive trade names.
The new laws also set guidelines for the resolution of disputes related to trade names and business registration.
Chidiac commented that the centralized electronic database for business and trade name registrations will reduce duplication, improve transparency, and promote uniformity across the Kingdom.
He explained that the improved registration processes and enhanced legal framework will likely prevent conflicts over similar trade names.
He also mentioned that Saudi Arabia’s legal system encourages alternative dispute resolution methods such as mediation and arbitration, which help reduce the burden on courts and offer flexible options for businesses involved in disputes.
According to Abdulrahman Al-Hussein, spokesperson for the Ministry of Commerce, the new system is based on international best practices.
Arthur D. Little’s Al-Nesayan agreed, noting that the adoption of international best practices in the new registration system will make Saudi Arabia a more attractive market for foreign investors.
He explained: “The unified national registration system is a major win for both local and foreign businesses. It removes the complexity of dealing with multiple agencies and provides a one-stop platform for all business-related registrations.”
This, he added, signals a more predictable and transparent operating environment, aligning with global standards and making market entry far smoother for international companies.
The reforms also provide enhanced trade name protection, which Al-Nesayan highlighted as crucial for businesses looking to scale both domestically and internationally.
“In today’s market, a business’s brand is often one of its most valuable assets,” he said. “By ensuring stronger protection for trade names, companies can confidently invest in their brand, knowing it’s secure. Over time, this will build consumer trust, enhance market presence, and support long-term growth.”
For those with existing sub-registers, a five-year grace period is being offered to either transfer or cancel their registrations. Chidiac pointed out that while this grace period offers flexibility, it also raises challenges for businesses regarding the company’s history and anteriority, particularly if they opt to cancel their sub-registers.
He explained that companies must carefully consider the potential impact on their business identity when making decisions during this transition phase.
Alongside these changes, the cabinet also approved a new real estate transaction tax system and other related measures. Chidiac explained that the new real estate law replaces the previous 15 percent VAT on real estate sales with a 5 percent tax on property ownership transfers.
He noted that this reform will not only ease the financial burden on businesses but also attract local and foreign investment into the real estate sector.
Certain transactions, such as inheritance distribution and charitable transfers, are exempt from this tax, which Chidiac believes will stimulate increased activity in the real estate market.
Al-Nesayan also highlighted the significance of this new real estate transaction tax system, noting that it complements the broader business reforms by promoting a more structured and transparent property market.
He explained that such transparency is essential as Saudi Arabia grows as a business hub, stabilizing property markets and supporting broader economic diversification efforts.
Chidiac added that legal counsel will play a crucial role in helping businesses navigate the transitional period for the new regulations, particularly regarding the five-year grace period for existing registrations.
He emphasized the need for businesses to stay informed and seek professional advice to ensure compliance with the updated regulations.
Al-Nesayan echoed this sentiment, advising businesses to engage with legal and business advisory services early on to fully benefit from the streamlined processes.
He added: “Being agile in adapting to these reforms will give businesses a significant competitive edge in this evolving landscape.”
Egypt central bank keeps overnight interest rates steady
CAIRO: Egypt’s central bank kept its overnight interest rates unchanged on Thursday, as expected, saying that while inflation was set to decelerate sharply in early 2025 it nonetheless remained high.
The bank’s monetary policy committee kept the lending rate at 28.25 percent and the deposit rate at 27.25 percent, it said in a statement.
The unanimous forecast in a Reuters poll of 12 analysts was that the committee would keep rates steady.
Egypt’s headline inflation dipped in November to 25.5 percent, its lowest since December 2022, and has been trending downwards from a record high of 38.0 percent in September 2023.
“Inflation is projected to ease substantially in 2025, as the cumulative impact of monetary policy tightening and favorable base effect materializes, with a notable decline in Q1 2025 and convergence to single digits by H2 2026,” the statement said.
It added that according to leading indicators, economic growth accelerated in the second half of 2024 from the 2.4 percent recorded in the second quarter.
“The committee judges that the current policy rates remain appropriate to maintain a tight monetary stance until a significant and sustained decline in inflation is achieved, and expectations are firmly anchored,” the statement said.
South Korea’s parliament convenes for acting president impeachment vote
- Push to impeach acting president Han Duck-soo has thrown South Korea’s once-vibrant democratic success story into uncharted territory
- Plan for a vote to impeach Han was after he declined to immediately appoint three justices to fill vacancies at the Constitutional Court
SEOUL: South Korea’s parliament began a session on Friday where a vote to impeach acting President Han Duck-soo over short-lived martial law is scheduled, as the Constitutional Court said it would swiftly decide suspended President Yoon Suk Yeol’s fate.
The push to impeach Prime Minister Han Duck-soo, who has been acting president since Yoon was impeached on Dec. 14 for declaring martial law on Dec. 3, has thrown South Korea’s once-vibrant democratic success story into uncharted territory.
Ahead of the parliamentary session, opposition leader Lee Jae-myung said his Democratic Party, which has majority control of parliament, will go ahead with the plan to impeach the acting president, accusing Han of “acting for insurrection.”
“The only way to normalize the country is to swiftly root out all the insurrection forces,” Lee said in a fiery speech, adding the party was acting on the public order to eradicate those who have put the country at risk.
There has been overwhelming public support for Yoon’s removal, according to opinion polls conducted after his martial law attempt.
The plan for a vote to impeach Han was unveiled on Thursday by the main opposition Democratic Party after he declined to immediately appoint three justices to fill vacancies at the Constitutional Court, saying it would exceed his acting role.
It remained unclear how many votes are needed to impeach Han as acting leader. The threshold for a prime minister is a simple majority, while a two-thirds majority is needed for a president. It is also unclear whether Han and the ruling party would accept any outcome.
If Han is suspended, Finance Minister Choi Sang-mok will assume the acting presidency by law.
Lee’s pledge to oust Han came minutes after Choi warned that impeaching the acting president would seriously damage the country’s economic credibility and asked political parties to withdraw the plan.
“The economy and the people’s livelihoods are walking on thin ice under a national state of emergency and it cannot cope any greater political uncertainty that will result from another acting president assuming the acting presidency,” he said.
Choi spoke for the country’s cabinet, flanked by ministers.
The South Korean won weakened to a fresh low of 1,486.7 per dollar on Friday, the weakest since March 2009, as analysts said there was little to reverse the negative sentiment stemming from the political uncertainty.
The vote to determine Han’s fate comes on the same day the Constitutional Court held its first hearing in a case reviewing whether to overturn the impeachment and reinstate Yoon or remove him permanently from office. It has 180 days to reach a decision.
Speaking for the court in a preparatory hearing, Justice Cheong Hyung-sik said the court will move swiftly on the case considering its gravity, denying a request by Yoon’s lawyers for a postponement in proceedings to better prepare the case.
In the hearing that wrapped up under an hour, the court set the next hearing for Jan. 3.
Yoon Kap-keun, one of the lawyers representing the impeached president, later told reporters the legal team is still adding members and that Yoon himself plans to appear in person in the future.
The hearing follows weeks of defiance by Yoon ignoring requests by the court to submit documents as well as summons by investigators in a separate criminal case over his martial law declaration.
Yoon was not required to attend Friday’s hearing. If he ousted, a new presidential election would be held within 60 days.
WORST POLITICAL CRISIS IN DECADES
The events following the Dec. 3 martial law declaration have plunged the country into its gravest political crisis since 1987, when widespread protests forced the ruling party of former military generals into accepting a constitutional amendment bringing in direct, popular vote to elect the president.
Yoon shocked the country and the world with a late-night announcement on Dec. 3 that he was imposing martial law to overcome political deadlock and root out “anti-state forces.”
The military deployed special forces to the national assembly, the election commission, and the office of a liberal YouTube commentator.
It also issued orders banning activity by parliament and political parties, as well as calling for government control of the media.
But within hours 190 lawmakers had defied the cordons of troops and police and voted against Yoon’s order. About six hours after his initial decree, Yoon rescinded the order.
Yoon and senior members of his administration also face criminal investigations for insurrection.
Oil Updates — prices set for weekly gain on China stimulus optimism
RIYADH: Oil prices were little changed on Friday but were set for a weekly rise amid optimism that economic stimulus efforts will prompt a recovery in China, but a stronger dollar capped gains, according to Reuters.
Brent crude futures fell 2 cents to $73.24 a barrel by 08:35 a.m. Saudi time. US West Texas Intermediate crude was at $69.61, down 1 cent, from Thursday’s close. However, on a weekly basis, Brent was up 0.4 percent and WTI rose 0.2 percent.
The World Bank on Thursday raised its forecast for China’s economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.
China, the world’s biggest oil importer, revised upwards its 2023 gross domestic product estimate by 2.7 percent, but also said the change would have little impact on growth this year.
Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, Reuters reported this week citing sources, as Beijing ramps up fiscal stimulus to revive a faltering economy.
However, a stronger US dollar weighed on oil prices and capped gains. The greenback has risen about 7 percent this quarter and remained pinned at a near two-year peak against major peers after the Federal Reserve signaled slower rate cuts in 2025.
A stronger dollar makes oil more expensive for holders of other currencies.
The latest weekly report on US inventories from the American Petroleum Institute industry group showed crude stocks fell last week by 3.2 million barrels, market sources said on Tuesday. API/S
Traders will be waiting to see if the official inventory report from the US Energy Information Administration confirms the decline. The EIA data is due at 9 p.m. Saudi time on Friday, later than normal because of the Christmas holiday.
Analysts in a Reuters poll expect crude inventories fell by about 1.9 million barrels in the week to Dec. 20, while gasoline and distillate inventories are seen falling by 1.1 million barrels and 0.3 million barrels respectively.
