Iran-Saudi Rivalry Concerns OPEC

Tension between Iran and Saudi Arabia is likely to hold OPEC back from achieving maximum oil production -- which may indicate a rise in oil production...

Merkel is The Only Remaining Voice ...

Populist Alternative for Deutschland (AfD) far-right party continues to gain supporters. Analysts said that it has effectively beaten German Chancello...

China Might Reset The Global Econom...

According to CBC news' Economic Analyst Don Pittis, China's own internal crisis may spark a change in the Global Economy. He believes the results are ...

UN To Condemn North Korean Missile ...

According to the United States Ambassador Samantha Power, the United Nations is to condemn the latest North Korean missile launches towards Japanese s...

Iran-Saudi Rivalry Concerns OPEC

Tension between Iran and Saudi Arabia is likely to hold OPEC back from achieving maximum oil production — which may indicate a rise in oil production for the oil organisation.

Analysts said that geopolitical complexities within the group could mean an immense rise in oil prices in the region. The rise is unlikely to affect major countries as the price of oil had turned down in the last few years due to excess supply from traditional producers and shale oil producers in the United States.

“The relations between Saudi Arabia and Iran are just so, so poor I can’t see any scenario under which Saudi Arabia would cut without Iran freezing and Iran has said so consistently that they just will not freeze until they reach pre-sanctions levels,” BMI Research ‘s oil and gas analyst, Emma Richards, told CNBC recently.

Fitch Group’s research arm BMI Research was not expecting an agreement on the production freeze at the informal meeting on the back of the conflicts within OPEC, with tensions between Saudi Arabia and Iran the “main impediment” to a deal, the house said in a recent report.

“We’re talking about a long-term i.e. 1,400-year chasm between the Sunni side and the Shia side. OPEC has only been around for 60 years so what we’re looking at now is the greatest chasm between the Sunni side of OPEC and the Shia side of OPEC,” Stephen Schork, Editor of the Schork report.

Merkel is The Only Remaining Voice In Europe

Populist Alternative for Deutschland (AfD) far-right party continues to gain supporters. Analysts said that it has effectively beaten German Chancellor Angela Merkel’s party in her own home.

According to some, it represents a great threat to German democracy as the country approaches its federal elections the next year.

The far-right party could quash Mrs Merkel’s chances of a fourth term. Analysts said the AfD could defeat Angela Merkel and it has gained influence without having a refugee or foreign face in sight. The experts also elaborated that it indicated the hollow nature of xenophobia.

Analysts said that the results could be shocking and embarrassing for Mrs Merkel. However, she does not have a figurehead of another party as a clear rival. Even if the AfD could gain strength, experts said without a possible figure, there is no chance the other party could win.

In both Germany and across Europe the polls are clear; the majority people do not want to live in the world of the AfD or the National Front. Only concrete successes at home – tackling the nitty-gritty issues of housing, healthcare and schools where migration and austerity pinches – will give leaders like Mrs Merkel the political credibility to tackle head-on the scaremongering and empty promises of the populists.

China Might Reset The Global Economy

According to CBC news’ Economic Analyst Don Pittis, China’s own internal crisis may spark a change in the Global Economy. He believes the results are not as positive as anyone would think.

Mr Pittis said that analysts see climbing stock markets have shown an “ominous feeling of escalating pressure” that may need a crisis to bring things back to balance. He stressed that if China would take one for the team, they can be the biggest catalyst.

Billionaire investor George Soros said that China might be getting itself into or is priming itself for a possible storm.

“I think there’s an eerie resemblance of what’s happening in China to what happened here leading up to the financial crisis, 2007-2008,” Soros said during an Asia Society event in New York earlier this year. “It’s similarly fuelled by credit growth and an eventually unsustainable expansion of credit.”

The International Monetary fund had expressed its own concern about China’s “unsustainably high growth targets” which endanger companies that may default on loans and create a “difficult landing” when the bubble bursts.

Chinese media had reacted negatively to Mr Soros and the IMF’s analysis with provocative editorials reading about the west declaring war on China’s currency.

The country is also convinced that the Sept 4 and 5 summits would tackle not its unscrupulous activities in the South China Sea but rather its economic travels that affect many markets the world over.

China’s market is seeing difficulty but it does not mean that its factions are not open to experimentation. However, Mr Pittis said the various methods used are still dependent on the personal power of individuals and it can yet allow the country to reach equilibrium.

UN To Condemn North Korean Missile Launches

According to the United States Ambassador Samantha Power, the United Nations is to condemn the latest North Korean missile launches towards Japanese soil.

US Ambassador Samantha Power said during an emergency meeting that across the board “strong condemnations” from 15 council members had encouraged her that the missile launches would be condemned.

A few hours ago, South Korean and Japanese officials noted a signature of medium-range ballistic missiles fired on Wednesday. The missiles flew about 620 miles and had landed near Japan’s territorial waters.

It was the first time a missile had landed in Japan’s Exclusive Economic Zone (EEZ), extending about 200 nautical miles from the shore.

US Strategic Command confirmed that a second missile exploded immediately after it launched.

Britain’s deputy UN ambassador Peter Wilson said as he headed into the emergency council meeting they were concerned that it was the first time a North Korean missile had landed in Japan’s EEZ.

“Our objective in this meeting is to draw attention to that fact, but also to come together to very, very clearly condemn it,” he said.

After the meeting, Japan’s UN Ambassador Koro Bessho was heartened by the “many messages of solidarity” after his appeal to the council to be united and send a strong message to the world and especially to North Korea that its actions are “totally unacceptable”.

Elton John Pledges Millions To Help LGBTs in Africa

Award-winning singer and composer Elton John have begun a $10m fund that would issue grants and provide expertise to people in homophobic regimes.

The Aids Foundation — which he established — would provide grants to lesbian, gay, bisexual and transgender people in Africa stigmatised and penalised for their sexual orientation. The Aids Foundation would work with the US President Barack Obama’s Pepfar plan for Aids relief.

According to John, he has no power to persuade countries with homophobic laws to change their values:

“I know that certain governments in Africa will not respond to someone like me telling them you should do this, you should do that. I count for nothing as far as that goes.

“What I can do is ensure that people who are LGBT – if their clinics are closed down because they are LGBT – we can give them medicine. If they are arrested, we will get them legal aid,” he said on Wednesday at the international Aids conference in Durban, South Africa.

Many sub-Saharan African countries have anti-homosexuality laws and in some, including Nigeria and Sudan, there is the threat of the death penalty. There is a long history of violent attacks and persecution against LGBT people.

“We will help them on the ground,” said John. “With these countries sometimes, who knows, it might take 50 years, but I guarantee it will change.”

Iraq War Inquiry Will Answer All Criticisms – Chilcot

The Chilcot Report, investigating the role of the UK during the Iraq War alongside the United States, will not be afraid to criticise the operations and the decisions of those who were involved during the time of the Iraq war.

According to Chilcot, the public inquiry will not whitewash anything from the investigation. Chilcot admitted that he and his panellists had judged decisions that may justify a rebuke.

Chilcot said: “I made very clear right at the start of the inquiry that if we came across decisions or behaviour which deserved criticism then we wouldn’t shy away from making it. And, indeed, there have been more than a few instances where we are bound to do that.”

The report would focus on the commitments of former British Prime Minister Tony Blair, his agreement with former US President George Bush.

The investigation also intends to expose whether Mr Blair had misled the public by exaggerating the likelihood of nuclear weapons or weapons of mass destruction. Investigation further revealed that the nuclear weapons were non-existent.

The Chilcot Report had come under fire because of its delays. However, Chilcot said the scale of the investigation was unprecedented and would need an analysis of over 150,000 government documents and getting agreement from the government of how much information can be published.

Europe Voices Out Want For Britain to Stay

Survey shows that 11,000 Europeans want Britain to remain. According to the Bertelsmann Foundation, about 54% of survey respondents said UK must remain with the EU.

In April, about 10,992 European citizens answered a survey. Majority of Europeans in the 28 member states said Britain’s departure with have little or no impact on their own country. About 25% believe their country would be gravely affected.

The survey was done in April before the Brexit’s ballooning issue.

Bertelsmann project manager Isabell Hoffmann said: “What we have seen in our polling is that while the mood in the UK is incredibly agitated, the atmosphere on the continent has been relatively calm. The baseline response we are seeing is that people in the rest of Europe haven’t really been shaken up by the Brexit debate.”

In a separate research by the Pew Research Centre in the United States indicated a sharp decline in public support for the EU across its largest member states.

About 38 per cent of respondents in France said they favoured the EU’s decisions. This was down 17 percentage points the previous year. EU support in Spain fell by 16 points to 47%.

Both studies point out that majority of EU’s nationals want Britain to stay in the bloc.

The EU had declared that if the UK should leave the European Union, it would be “harsher” for the UK as it may take more than seven years for the UK to negotiate a new relationship with the EU.

Boris Johnson, Michael Gove Challenge Cameron To Brexit Debate

MPs former London Mayor Boris Johnson and Justice Secretary Michael Gove had issued an extraordinary challenge to David Cameron due to his failure to cut immigration.

With a vote of no-confidence on Cameron regarding the handling of the EU referendum, a Tory MP said British Prime Minister David Cameron could lose the debate quickly.

Both Johnson and Gove issued a letter stating that Cameron’s target to cut immigration to tens of thousands had come to pass and fulfil expectations. They said they betrayed his public trust.

EU’s free movement of people rules on public services indicate that class sizes would soar. The NHS lines would lengthen if the UK did not vote to leave by June 23.

Employment Minister Priti Patel said that Cameron and UK Chancellor George Osborne were “too wealthy to care about the effects of immigration.”

The employment minister said “It’s shameful that those leading the pro-EU campaign fail to care for those who do not have their advantages. Their narrow self-interest fails to pay due regard to the interests of the wider public.”

Rebelling tories were concerned about the EU’s “out of control” policies on migration within its ranks.

Vote stay said the economic effects of a Brexit would prove devastating for the current economy. The G7 leaders also said the UK’s prominence globally could see a falling out due to huge uncertainty affecting investment in the country.

Hunt for EgyptAir MS804 Begins in Mediterranean

A joint task force between France, Greece, Turkey and the United States are searching for the remains of EgyptAir’s flight MS804 following its distress signal and sudden disappearance from radar.

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The passenger airbus carried 66 people from Paris to Cairo. It had issued a distress signal shortly after it disappeared from tower radar.

According to EgyptAir, it had found part of the wreckage and life jackets near the Island of Karpathos in Crete, Greece.

However, Ahmed Adel, Vice President of EgyptAir said it wasn’t their aircraft.

Egypt is currently searching all the waters in the area the aircraft was last spotted on radar.

The United States have dispatched a p-3 Orion Maritime Surveillance aircraft from its Sicilian base.

Egyptian Aviation Minister Sherif Fathi said he didn’t wish to draw conclusions. But he said

“The possibility of having a different action or a terror attack is higher than the possibility of having a technical failure.”

Meanhwile, French authorities said their information confirms the plane has crashed and immediately disappeared. French President Francois Hollande said “we have a duty to know everything about the cause and what has happened.

About 30 Egyptians were on board the plane. France said it had 15 nationals on board.

Other passengers were two Iraqis and one national per country from the United Kingdom, Belgium, Kuwait, Sudan, Chad, Saudi Arabia, Portugal, Canada and Algeria.

Egyptian Official Blames Tom And Jerry For Violence in the Region

Violent video games along with western cartoon violence urge young men to become ‘happy’ to kill, according to Egyptian Head of State Information Service Abdel Sadeq.

The official said:

“[The cartoon] portrays violence in a funny manner, and gives the impression that, yes, I can hit him, and I can blow him up with explosives,” Salan Abdel Sadeq told the audience at a conference titled “The Media and the Culture of Violence” at Cairo University.

“Video games are spreading…it has become normal for a young man to sit for long hours playing video games, killing and spilling blood. He is happy and content with that.”

Egypt’s own internal media production did not escape the official’s criticism. However, Sadeq has not confirmed whether to urge censorship.

Many criticised Sadeq’s implication of Tom and Jerry along with videogames as a major factor in urging violence.

One Egyptian Twitter user said:

“Good, so Tom and Jerry are terrorists – my niece loves watching it and if we stopped her we’d have to call the police”

Some had said Sadeq had failed to include the previous Muslim Brotherhood, the party list of ousted Egyptian President Mohamed Morsi and is labelled as a terrorist group.

“Not the Muslim Brotherhood then?! Egyptian official holds Tom and Jerry responsible for violence in the Middle