State for Economic, Energy and Business Affairs
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US eyes stake in Azerbaijan's pipelines as economic ties enter new phase after Trump-brokered deal
Washington wants in on Azerbaijan's pipelines and energy infrastructure, a senior US official said in Baku, as the two countries deepen economic ties following Trump's White House peace deal with Armenia. The United States wants a direct stake in Azerbaijan's pipeline and energy infrastructure, a senior US official said on Thursday, signalling Washington's ambitions to deepen its foothold in a region long dominated by Russia and China. Speaking at the first Azerbaijan–US Economic Dialogue in...
Tough times for hospitality businesses with rising cost of food and power
Tough times for hospitality businesses with rising cost of food and power Tue 2 Jun 2026 at 6:05am In short: The hospitality sector is grappling with 'unprecedented' cost increases, business owners and industry experts say. A publican, who shut her cafe two years ago says businesses are struggling with costs that they 'don't have any control over'. SA's small business minister says the state is 'the best place in the nation to do business' despite the growing pressures.
Trump's peace plan still vague as war with Iran continues
Israel and Iran continue to strike each other after the US says plans for talks with Tehran remain "fluid". We also hear how President Trump's vague peace plan gives only temporary relief to unstable markets, and about life in Iran under constant bombardment. In other news, the United States pays a French energy company $1 billion not to build a wind farm.
Iran attacks energy facilities in the Gulf
Qatar's state-owned petroleum company says an Iranian ballistic missile attack on its main gas complex at Ras Laffan has caused widespread destruction. Several Gulf states were attacked by Iran after its largest gas field South Pars was hit in an Israeli strike. President Trump has warned Iran not to launch further attacks on Qatar, or face a "massive" response from the US.
European Commission responds to Italy's call for energy cost relief flexibility
The measures indirectly address Italy's request that the Commission relax its fiscal rules to allow member states to tackle rising energy prices without incurring excessive debt and risking penalties. The European Commission is set to allow limited energy-related spending from fiscal rules to give EU countries more leeway to address soaring prices. The measures announced by the EU executive on Wednesday are an attempt to reassure fiscally conservative capitals struggling with skyrocketing...
How have countries around the world responded to the US-Israel war on Iran?
How have countries around the world responded to the US-Israel war on Iran? The war, which has entered its 100th day, has upended global financial and energy markets, drawing concerns from world leaders. Sunday marks 100 days since the United States and Israel launched war on Iran – a conflict that has triggered a global energy crisis and darkened the global economic outlook.
The back-channel bid to go soft on Maduro
When Marco Rubio was named secretary of State, many in both South Florida Republican circles and the American energy industry exulted. But one man who bridged both worlds knew he had a problem. A longtime investor in Venezuela, the main source of crude oil needed to produce the asphalt that had made his family rich, Harry Sargeant III kept relations with top officials in Caracas even as they seized most foreign oil holdings.
Donald Trump says there are points of agreement with Iran
President Trump has said that the United States and Iran are in discussions aimed at ending current hostilities after he called off American strikes on Iranian energy infrastructure. He claimed that Iran had made contact with the US and had agreed to not pursue nuclear weapons, adding that the US would continue its bombing if talks failed. Iran has denied there is any dialogue with the US.
Iran says US Kharg Island attack a failure
On Friday President Trump said the US had obliterated military targets on the Iranian oil hub island of Kharg and threatened to target the oil infrastructure there if Iran stopped ships going through the Strait of Hormuz. Tehran accused Washington of a failed mission and warned that any attacks on its energy facilities would lead to strikes on US-linked oil interests in the region. Also: People in the Gulf State of Qatar have been told to evacuate several areas that could be targeted by...
Oil and gas prices surge after energy plant strikes
Energy prices have surged after strikes on key gas facilities in Qatar and Iran, as the Middle East war continues to escalate. Iran has targeted Qatar's Ras Laffan complex in response to the bombing of Iranian facilities on South Pars gas field by Israel. The US Defence Secretary Pete Hegseth says the war is on track as the White House asks Congress for an extra $200 billion dollars.