G7 set to discuss climbing oil prices, release of emergency reserves
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint r...
Chileans will vote on Sunday in the country's first mandatory presidential election since 2012, with security and immigration shaping a race expected to move to a December run off.
Chile is preparing for a national vote in which more than 16 million eligible citizens are required to participate. The return to compulsory voting follows several years of high abstention, leaving a large share of previously inactive or undecided voters now entering the process.
Eight candidates are competing for the presidency, and current polling suggests that no one will reach the majority needed to win in a single round. Jeannette Jara, a former labour minister supported by the governing coalition, has focused her campaign on wages, workers' rights and the development of the lithium industry.
Jose Antonio Kast, leader of the Republican Party, has emphasised immigration and public security. Johannes Kaiser, running with the National Libertarian Party, has proposed reducing the size of the state and withdrawing from several international agreements. Evelyn Matthei, a former minister and former mayor, represents the moderate right and is taking part in her second presidential bid.
Run off expectations and legislative stakes
Polling indicates that the race is likely to move to a run off on 14 December, most probably involving Jara and Kast, though the final outcome will depend on turnout and late deciding voters.
The presidential vote coincides with significant legislative elections. All 155 seats in the lower house and 23 out of 50 Senate seats are being contested. The governing coalition currently holds a minority in both chambers. A right wing majority in both the executive and legislative branches would be the first since the early 1990s. If right aligned parties secure four sevenths of both chambers, they would have the numbers required to pass constitutional reforms.
Mining and copper
Copper has shaped Chile’s economy for decades, with Codelco remaining a central pillar since the nationalisation of major assets in the early 1970s. The sector changed after the 1973 coup, when new laws opened the industry to private investment alongside the state miner. Since the return to democracy, Chile has relied on copper revenues to support public services, while rising demand for lithium has added new strategic importance.
Jara supports expanding Codelco’s role in lithium, while Kast favours auditing the company and easing regulations to attract more private investment. Mining companies are pressing candidates to simplify environmental permitting to advance new projects and increase production.
Trump says the United States "don’t need people that join wars after we’ve already won," targeting his criticism at UK Prime Minister Keir Starmer. Israel continues to fire missles at strategic sites in Iran and Gulf regions report more strikes from Iran.
Baku has completed its evacuation of staff from the Azerbaijan Consulate General in Tabriz, while most employees from the Azerbaijan Embassy in Tehran have also returned.
Tehran’s Mehrabad Airport came under attack in heavy airstrikes on early Saturday morning (7 March), Iranian news agencies reported.
U.S. President Donald Trump threatened further attacks on Iran on Saturday (7 March), while the United Arab Emirates and Saudi Arabia continued to shoot down missiles in their airspace. Meanwhile, Iran’s President Masoud Pezeshkian said Tehran would stop attacking its neighbours.
Russian attacks on Ukraine’s second largest city in the early hours of Saturday (7 March) killed 10 people, including two children. Kharkiv mayor, Ihor Terekov, said 10 residents died after a Russian ballistic missile hit a five storey apartment block in the city.
The Group of Seven (G7) finance ministers will meet on Monday to discuss a global rise in oil prices and a joint release of oil from emergency reserves coordinated by the International Energy Agency, the Financial Times reports.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of March, covering the latest developments you need to know.
Global oil prices have surged past $110 a barrel this Monday as fresh U.S.-Israeli strikes hit multiple targets, including oil depots. Stock markets fell on fears the conflict with Iran could disrupt shipments through the Strait of Hormuz, raising concerns over global energy supply.
The U.S. embassy in Oslo was hit by a loud explosion early on Sunday (8 March), causing minor damage but no injuries, in what may have been a deliberate attack linked to the crisis in the Middle East, Norwegian police said.
Russian attacks on Ukraine’s second largest city in the early hours of Saturday (7 March) killed 10 people, including two children. Kharkiv mayor, Ihor Terekov, said 10 residents died after a Russian ballistic missile hit a five storey apartment block in the city.
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