live Oil prices fall as Iran vows retaliation over U.S. sanctions
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
Ireland's two large centre-right parties are set to begin their search for a coalition partner this week after Friday's election looked likely to leave them just short of the 88 seats needed to govern, a choice that will help determine their policy platform.
Ireland's two large centre-right parties are set to begin their search for a coalition partner this week after Friday's election looked likely to leave them just short of the 88 seats needed to govern, a choice that will help determine their policy platform.
Prime Minister Simon Harris' Fine Gael and coalition partner Fianna Fail bucked a global trend of voters rejecting incumbents when they won 20.8% and 21.9% of the vote respectively, a broadly similar level to the last election in 2020.
With outgoing junior coalition partner the Greens set to lose all but one of its seats, the choice is between one of Ireland's smaller left-leaning parties or a number of more conservative independent lawmakers.
The final seats are likely to be filled on Monday.
"There is certainly the possibility for this additional partner to have an outsized impact on the ideological direction," said Theresa Reidy, senior lecturer in politics at University College Cork.
Fine Gael and Fianna Fail have ruled out a deal with the other main party Sinn Fein, the leftist opposition whose vote fell to 19.0% from 24.5% in 2020 and 35% in opinion polls a year ago when it appeared on course to lead the next government.
Harris called the election on the heels of a 10.5 billion euro ($11 billion) giveaway budget, but will be under pressure to heed widespread frustration at the outgoing government's inability to turn the healthiest public finances in Europe into better public services.
POTENTIAL MAJOR THREAT
Senior Fine Gael and Fianna Fail ministers have said talks on forming a new government would take weeks at least. Party figures have said they would like a deal before the inauguration of U.S. President-elect Donald Trump on Jan. 20, but that it is not a hard deadline.
Trump's pledges to slash corporate tax and impose tariffs pose a potentially major threat to Ireland's economy, which is heavily dependent on the taxes and jobs of a cluster of U.S. tech and pharmaceutical multinationals.
"Ideally if we can form a government prior to that (Trump's inauguration), that's positive, but I think we need to form a government that can last," Finance Minister Jack Chambers of Fianna Fail told Reuters, adding that negotiations should not take the 4-1/2 months needed in 2020.
Fine Gael and Fianna Fail have formed stable governments in the past backed by independents and both have governed with one of the two possible centre-left partners, Labour. The other, the relatively new Social Democrats, has never been in power.
While 88 votes are required to pass legislation and approve ministers, parties will really need around 94 to have a comfortable majority capable of going the full five-year term, former prime minister Bertie Ahern told state broadcaster RTE.
"The reality is they have plenty of choices," giving them plenty of bargaining power, Ahern said.
Iran on Saturday denounced U.S. plans to announce new sanctions that could put further strain on the Islamic Republic's economy and have an impact on its most important trading partners including China.
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 25th of August, covering the latest developments.
The United States has formally removed Syria from its list of state sponsors of terrorism, ending a designation that had been in place for nearly five decades and marking a major step in Washington's efforts to rebuild relations with the country's new leadership.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment