Lifting of sanctions offers hope to Iran’s ailing economy
The lifting of UN sanctions on Iran reconnects a potentially vibrant emerging economy to world markets, with the allure of a bonanza for international and local investors and a brighter future for a restive young population. The FT’s Siona Jenkins asks Najmeh Bozorgmehr, Tehran correspondent, Martin Arnold, banking editor, and Anjli Raval, oil correspondent, what obstacles remain and how soon the country is likely to see results.
Iran-Saudi split damps hopes for regional conflict resolution
The year has begun with a sharp deterioration in the relationship between the two major powers in the Gulf region: Iran and Saudi Arabia. Gideon Rachman is joined by Roula Khalaf, foreign editor, and Geoff Dyer, Washington correspondent, to discuss the regional implications of the dispute.
There are drawbacks to being a satirist from a deeply authoritarian state. Exile is a frequent consequence. But it has its advantages.
“I’m really blessed as an Iranian comedian,” Kambiz Hosseini told the audience of democrats, dissidents and defectors who gathered this week in Norway for the annual Oslo Freedom Forum (or “Davos for dissidents”). “There’s no shortage of material for me.” Read more
Militia men loyal to Yemen's President Abd-Rabbu Mansour Hadi loot the barracks of the Special Forces in Aden
As Saudi jets launched bombing raids against Yemeni rebel targets, escalating another war in the Middle East, the Sunni world showed remarkable unity. A coalition of the willing — all Sunni — was assembled, stretching from Egypt to Pakistan. Supporters and critics of the Saudi regime alike agreed that it was time to teach Shia Iran.
And yet, Sunni communities should have little cause for satisfaction. It may be understandable that Riyadh considers Iranian backing for advancing rebels in Yemen as a step too far – Yemen is the Saudi backyard after all. But however large the Saudi-led coalition, and however united in its resolve to confront Iran, the latest intervention in Yemen is unlikely to save the country from sliding into all out civil war.
Indeed, Yemen is turning into another worrying case of Saudi-Iranian proxy war, a heightening power struggle that has engulfed other nations in the region and spread mayhem throughout the Middle East. Read more
It has been 15 years since Jeb Bush has been in New Hampshire for a political campaign – and then it was for his brother.
As he makes his first swing through the “Granite State” for a series of events this weekend ahead of the expected announcement of his own candidacy for the presidency, Mr Bush had a message for voters in the crucial early primary state: I’m a grown-up. Read more
IAEA inspectors at Natanz nuclear power plant earlier this year
It all seems so simple: Iran’s aggressive expansion of its – officially – civilian nuclear programme has brought it within months of being able to enrich enough uranium to make an atomic bomb. The world has punished the Islamic republic with sanctions and now nobody is happy. So, as per an agreement last November called the Joint Plan of Action (JPOA), the world’s big powers (the five members of the UN security council plus Germany, or P5+1) want to reduce Iran’s bomb making potential – the so-called breakout time – in return for sanctions relief.
Briefly put: the P5+1 want Iran’s breakout time to go from under 6 months to at least 12. Iran wants to export its oil and use the world’s banking system. And there the simplicity ends.
Beyond the stated goals is a fiendishly complex jigsaw of negotiating positions, all complicated by questions of transparency and trust. Below is an outline of some of the technical terms that may help to understand what is being discussed. Read more
• The FT continues its Fragile Middle series with a look at how one in five Chinese are only one pay packet away from losing middle class status.
• War has created civilisation over the past 10,000 years – and threatens to destroy it in the next 40.
• Turkey‘s social media curbs are darkening prospects for its technology sector.
• Despite the undue frostiness that has greeted Iran’s nuclear spring, politicians and diplomats are convinced Tehran wants a deal.
• It took just four years for Kim Yong-chul to go from chief lawyer at Samsung to working in a bakery. Now the most high-profile whistleblower in South Korean history is back in the spotlight.
• China is unlikely to have a Lehman-style moment – but danger is lurking in the shadows. Read more
♦ In the new cold war, Russia could hit the US where it hurts – in Iran.
♦ Vladimir Putin has confounded three US presidents as they tried to figure him out.
♦ The decision in Egypt to hand the death sentence to 528 Muslim Brotherhood members was widely condemned, but Egyptian TV told a different story.
♦ The US is losing its edge as an employment powerhouse after its labour participation rate fell behind the UK’s.
♦ Russia’s actions in Crimea have sent a chill through its former Soviet neighbours in Central Asia and the Caucasus.
♦ American economist Hyman Minsky is back in vogue as his ideas offer a plausible account of why the 2007-08 financial crisis happened.
♦ A report on how former Tunisian president Zein al-Abidine Ben Ali changed the rules of business underlines the challenges still facing the country. Read more
Simply by coming to the World Economic Forum, President Hassan Rouhani of Iran is sending a message. He is the first Iranian president to have spoken in Davos for a decade. In a public speech at the forum and in private meetings with journalists, the president has sought to present a smiling and conciliatory face.
Certainly his personal style is a marked contrast to that of Mahmoud Ahmadi-Nejad, his predecessor. While Ahmadi-Nejad was all staring eyes and confrontation, Rouhani has a ready laugh and listens carefully to questions. Read more
Courtesy of FastFT:
Iranian president Hassan Rouhani is giving a high-profile keynote address at the World Economic Forum in Davos, Switzerland on Thursday. Read more
♦ Cronyism is being blamed for the slow pace of reform in Ireland.
♦ An AP investigation reveals that a US citizen who went missing on a private business trip to Iran actually had ties to the CIA and was on an unapproved mission.
♦ Bill Keller at the New York Times mulls over negotiations with Iran: “For the moment, our hard-liners pose a greater problem than Iran’s.”
♦ Egyptians are outraged that General Abdel Fattah al-Sisi was not Time’s person of the year. Read more
♦ The Volcker rule is contentious, but it is not the knockout blow some people had expected.
♦ The economically sensible wing of the US Republican party doesn’t exist, says Paul Krugman.
♦ Iran and Israel have paid tribute to Mandela, while choosing to remain a safe distance from the memorial.
♦ Marc Lynch explains why nobody in the Middle East deserves to be on the Foreign Policy Leading Global Thinker list this year.
♦ After cracking down on the Muslim Brotherhood, Egypt’s interior ministry has turned its attention to the activist community of journalists, non-Islamists and students.
♦ The Australian speaks to a mother in Iraq who is waiting for her son’s execution to be announced after a “hanging day”. Read more
By Luisa Frey
• Back-channel conversations between the US and Iran paved way for the historic nuclear agreement and broke 34 years of hostility, writes the FT’s Geoff Dyer. Read more