Around the Globe

Around the Globe

Iran seeks Indian investment amid US pressure

Iranian President Hassan Rouhani will be seeking billions of dollars of Indian investment during a visit to New Delhi, diplomats said, a trip that comes amid US pressure to review a 2015 international nuclear deal and re-impose sanctions on Iran.

India is trying to develop the port of Chabahar on Iran’s east coast as a way to gain access the markets of central Asia as well as Afghanistan by bypassing archrival Pakistan.

But progress is slow because of concern that President Donald Trump’s administration may eventually scrap the Iran nuclear deal.

OPEC sees higher oil demand, more rival supply

OPEC on Monday said world oil demand would grow faster than expected in 2018 because of a healthy world economy, adding a tailwind to the producer group’s effort to remove a supply glut by cutting output.

But the global market will return to balance only towards the end of 2018, no earlier than previously thought, as higher prices encourage the United States and other non-member producers to pump more, OPEC said in a monthly report.

US to retain EB5 visa, but double the fee

The US Congress’ extension for EB5 visa will end on February 8. Even if this visa — touted as the Golden Visa of Uncle Sam — is continued, it will come with a fat price as the US administration is considering to more than double the visa fee to $1.35 million from the existing $500,000.

Trump preaches cooperation, but can he follow through?

In his State of the Union address on Tuesday, US President Donald Trump spoke of unifying the country and delivering for the American people – and he has the opportunity to back up his words with action almost immediately.

Trump faces a series of policy choices in the next few weeks and months that will show whether he is sincere in his pledge to “seek out common ground” and could also shape his presidency and legacy.

Mystery still shrouds the arrest of billionaire prince Alwaleed

Saudi Arabia freed Prince Alwaleed bin Talal and several of the kingdom’s most prominent businessmen from detention, clearing out the Ritz-Carlton hotel that served as a jail for the country’s elite during a controversial crackdown on corruption. News of Alwaleed’s release came hours after he was quoted praising members of Saudi Arabia’s royal family. “I can only say I’m supporting the king and crown prince in all the efforts they’re doing to really have a new Saudi Arabia,’ he said.

‘America First’ is good for globalism, Trump stresses

President Donald Trump has a familiar message for the global elites populating the World Economic Forum in Davos, Switzerland: You were wrong. A year ago, some Davos participants predicted Trump’s protectionist rhetoric would lead to sluggish economic growth and lackluster stock market gains. It didn’t. And the president isn’t about to let that go unnoticed.

US Senate confirms Jerome Powell as next Fed chairman

The US Senate on Tuesday confirmed former investment banker Jerome Powell as head of the Federal Reserve, putting President Donald Trump’s pick in a role of enormous influence over the world’s largest economy. Powell, a current Fed governor, was confirmed by a vote of 85-12, paving the way for him to replace current Chair Janet Yellen when she steps down.

In choosing to replace Yellen, Trump dismantled another piece of his predecessor Barack Obama's legacy, making Trump the first US president in nearly 40 years not to reappoint the incumbent Fed chair.

Shutdown drives Trump and Democrats further apart on immigration

The three-day government shutdown battle may have hastened an immigration debate in the Senate, but it also deepened the acrimony and highlighted bitter divisions between the two parties that stand in the way of a compromise.

Immigration hardliners and President Donald Tru­mp’s White House exulted in what officials swiftly portrayed as a Democratic surrender. “Big win for Republicans as Democrats cave on Shutdown,” Trump said on Twitter late Monday night, though he also suggested that negotiations resume.

US Embassy in Israel to move to Jerusalem by end of 2019: Pence

The US Embassy in Israel will move to Jerusalem by the end of 2019, US Vice President Mike Pence said in a speech to the Israeli parliament on Monday that highlighted a policy shift that has stoked Palestinian anger and international concern. resident Donald Trump last month recognised Jerusalem as the capital of Israel and said he would move the US Embassy there — dismaying Palestinians who claim the eastern part of the city and angering Arab states across the region.