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		<title>Taiwan Defends US Arms Ties as Trump Wavers on New Weapons Deal</title>
		<link>https://millichronicle.com/2026/05/67212.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 16 May 2026 14:48:43 +0000</pubDate>
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					<description><![CDATA[Taipei-Taiwan on Saturday reaffirmed the importance of US arms sales to the island, saying the transfers are grounded in American]]></description>
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<p><strong>Taipei-</strong>Taiwan on Saturday reaffirmed the importance of US arms sales to the island, saying the transfers are grounded in American law and essential for deterring regional threats after US President Donald Trump said he had not yet decided on approving a major new weapons package.</p>



<p>The remarks came after Trump’s summit with Chinese President Xi Jinping in Beijing, where the US president acknowledged uncertainty over future military sales to Taiwan, raising questions about Washington’s security commitment to the self-governed island claimed by China.</p>



<p>Despite having no formal diplomatic relations with Taiwan, the United States remains Taipei’s most significant international supporter and is required under the Taiwan Relations Act to provide the island with defensive weapons.</p>



<p>Karen Kuo, spokesperson for Taiwanese President Lai Ching-te, said China’s intensifying military activities represented the main destabilizing force in the Indo-Pacific region, including the Taiwan Strait.</p>



<p>“Military sales between Taiwan and the US are not only a reflection of the US security commitment to Taiwan as stipulated in the Taiwan Relations Act, but also serve as a mutual deterrence against regional threats,” Kuo said in a statement.She added that Taiwan appreciated Trump’s continued support for stability in the Taiwan Strait and would continue strengthening cooperation with Washington.</p>



<p>Reuters previously reported that a proposed second US arms package for Taiwan valued at approximately $14 billion remains pending approval after the Trump administration approved an $11 billion package in December.</p>



<p>Taiwanese Deputy Foreign Minister Chen Ming-chi declined to comment directly on the pending sale, saying discussions remained ongoing with Washington.Taiwan’s government has also struggled to secure passage of a broader $40 billion defense spending proposal through an opposition-controlled parliament.</p>



<p> Earlier this month lawmakers approved roughly two-thirds of the requested budget, specifically allocating it for US arms procurement.US lawmakers from both major parties have urged the administration to continue supporting Taiwan militarily amid growing pressure from Beijing.</p>



<p>Trump also suggested he could speak directly with Lai regarding the proposed sale, telling reporters after his meeting with Xi that he needed to talk with “the person that’s running Taiwan.”Chen said Taipei was still trying to determine the “true intent” behind Trump’s comments.</p>



<p>A senior Taiwanese security official, speaking anonymously because of the issue’s sensitivity, said arms discussions should involve Taiwan rather than Beijing.China has increased military operations around Taiwan in recent years and has not ruled out using force to bring the island under its control. </p>



<p>Beijing rejects Lai’s government and labels him a separatist.Kuo reiterated Taiwan’s position that the Republic of China, the island’s formal name, is “a sovereign, independent democratic country,” dismissing Beijing’s sovereignty claims.</p>
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		<title>Freight Train Slams Into Bus in Bangkok Inferno, Killing Eight</title>
		<link>https://millichronicle.com/2026/05/67210.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 16 May 2026 14:44:57 +0000</pubDate>
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					<description><![CDATA[Bangkok- At least eight people were killed and 32 others injured in Bangkok on Saturday after a freight train collided]]></description>
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<p><strong>Bangkok- </strong>At least eight people were killed and 32 others injured in Bangkok on Saturday after a freight train collided with a public bus at a rail crossing, triggering a fire that engulfed the vehicle and several nearby cars and motorcycles, Thai officials said.</p>



<p><br>The crash occurred near the Airport Rail Link’s Makkasan station when the container freight train struck the bus after it became trapped on the tracks at a red light, according to Deputy Transport Minister Siripong Angkasakulkiat.</p>



<p><br>Preliminary findings indicated the bus had stopped on the crossing, preventing the rail barriers from closing before the train approached, Siripong told reporters.<br>“The train was unable to stop in time to avoid colliding with the bus,” he said, adding that all eight fatalities were passengers aboard the bus.</p>



<p><br>Emergency crews and firefighters rushed to the scene as flames spread through the bus and nearby vehicles on Asok-Din Daeng Road. Rescue workers pulled injured passengers from the wreckage while fire crews battled the blaze with water hoses.</p>



<p><br>Videos circulating on social media showed the train striking the bus and dragging multiple vehicles along the tracks before the fire erupted.</p>



<p><br>A witness, motorcycle taxi driver Wanthong Kokpho, told Reuters the bus had been immobilized by traffic at the crossing.</p>



<p><br>“The bus was stuck at a red light, so it couldn’t move,” he said. “The fire broke out immediately.”</p>



<p><br>Officials said the fire was later brought under control as emergency teams continued cooling operations and searched the site for additional victims.<br>Authorities have launched an investigation into the cause of the collision.</p>



<p><br>Thailand has one of the world’s highest road fatality rates, according to the World Health Organization, with safety experts frequently citing weak enforcement of traffic and transport regulations.</p>
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		<title>Samsung, Union Resume Pay Talks as Strike Threat Rattles South Korea Economy</title>
		<link>https://millichronicle.com/2026/05/67207.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 16 May 2026 14:38:29 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=67207</guid>

					<description><![CDATA[Seoul-Samsung Electronics and its largest South Korean labor union will resume wage negotiations on Monday under government mediation, the union]]></description>
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<p><strong>Seoul-</strong>Samsung Electronics and its largest South Korean labor union will resume wage negotiations on Monday under government mediation, the union said, in a move that could reduce fears of a disruptive strike at the world’s biggest memory chipmaker.</p>



<p>The union said on Saturday that Samsung had replaced its lead negotiator ahead of renewed talks and that both sides would also hold a separate meeting later in the day. The company declined to comment on the discussions.</p>



<p>The announcement followed a public apology from Samsung Chairman Jay Y. Lee over the escalating labor dispute, marking his first direct remarks on the issue.“I sincerely apologise to customers around the world for causing anxiety and concern due to issues within our company,” Lee said in Seoul, adding that he also “deeply bows in apology to the public.</p>



<p>”Union leaders said Samsung’s newly appointed negotiator acknowledged a breakdown in trust and pledged to engage more sincerely in discussions aimed at resolving the dispute.</p>



<p>The South Korean government has stepped up pressure on both sides after mediated negotiations collapsed earlier this week, raising the prospect of a strike that officials warned could disrupt exports, financial markets and broader economic growth.</p>



<p>South Korea’s labor minister met Samsung management on Saturday and urged the company to take a more active role in resolving the standoff through dialogue.The union said on Friday it still intended to proceed with a planned strike next week despite Samsung’s proposal to restart negotiations without preconditions.</p>



<p>Concerns over potential industrial action have intensified because Samsung plays a central role in the global semiconductor supply chain. The company supplies chips to major technology firms including Nvidia, Advanced Micro Devices and Alphabet.</p>



<p>Government officials, including South Korea’s prime minister and finance minister, have warned that prolonged disruption at Samsung could have significant implications for the country’s export-driven economy.</p>
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		<title>Kohli Says 2027 World Cup Depends on Whether He Still ‘Adds Value’ to India</title>
		<link>https://millichronicle.com/2026/05/67204.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 16 May 2026 13:45:16 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=67204</guid>

					<description><![CDATA[Bengaluru-Indian batting great Virat Kohli said he would consider playing in the 2027 One-Day International World Cup only if he]]></description>
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<p><strong>Bengaluru-</strong>Indian batting great Virat Kohli said he would consider playing in the 2027 One-Day International World Cup only if he believes he can still contribute meaningfully to the national team, as the veteran batter reflected on his future in international cricket.</p>



<p><br>The 37-year-old, who retired from Twenty20 Internationals after India’s 2024 World Cup triumph and stepped away from Test cricket last year, remains active only in the ODI format.</p>



<p><br>Speaking on a podcast hosted by his Indian Premier League franchise Royal Challengers Bangalore, Kohli said he would not seek selection unless he and the team management believed he could continue adding value.</p>



<p><br>“If I can add value to the environment that I’m a part of and the environment feels like I can add value, I’ll be seen,” Kohli said.</p>



<p><br>Kohli added that he approaches every match with maximum intensity, saying he prepares to field “every ball like it’s the last ball” of his career.</p>



<p><br>The former India captain played 13 ODIs last year, scoring 651 runs, and returned to IPL action after last representing India in January. He has already scored one century during the current IPL season.</p>



<p><br>Kohli, one of the most prolific ODI batters in cricket history, has amassed 14,797 runs in 311 one-day internationals at an average of 58.71. Only Sachin Tendulkar has scored more ODI runs, with 18,426.</p>



<p><br>Now in his 17th year in international cricket, Kohli has continued to face scrutiny over his consistency despite strong performances against South Africa and New Zealand following a difficult series against Australia last year.</p>



<p><br>Reflecting on criticism surrounding his performances, Kohli questioned fluctuating assessments of his role within the team environment.</p>



<p><br>“Either tell me on day one I’m not good enough or I’m not needed,” he said. “Or if you’ve said I’m good enough and you say we’re not even thinking otherwise, then be quiet.”</p>



<p><br>The 2027 ODI World Cup is scheduled to be held in South Africa, Zimbabwe and Namibia in October and November next year.</p>
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		<title>Taiwan Urges Continued US Arms Support After Trump Signals Hesitation on New Deal</title>
		<link>https://millichronicle.com/2026/05/67202.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Sat, 16 May 2026 13:10:03 +0000</pubDate>
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					<description><![CDATA[Taipei-Taiwan on Saturday defended continued US weapons sales to the island as a critical deterrent against regional threats after US]]></description>
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<p><strong>Taipei-</strong>Taiwan on Saturday defended continued US weapons sales to the island as a critical deterrent against regional threats after US President Donald Trump said he had not yet decided whether to approve a major new arms package.</p>



<p><br>The remarks introduced fresh uncertainty into Washington’s long-standing security support for Taiwan following Trump’s summit with Chinese President Xi Jinping in Beijing on Friday.</p>



<p><br>Despite lacking formal diplomatic ties with Taiwan, the United States remains the island’s principal international backer and is legally obligated under the Taiwan Relations Act to provide defensive weapons.</p>



<p><br>In a statement, spokesperson Karen Kuo for Taiwanese President Lai Ching-te said China’s growing military pressure represented the primary destabilizing factor in the Indo-Pacific region and the Taiwan Strait.</p>



<p><br>“Military sales between Taiwan and the US are not only a reflection of the US security commitment to Taiwan as stipulated in the Taiwan Relations Act, but also serve as a mutual deterrence against regional threats,” Kuo said.</p>



<p><br>Taiwan thanked Trump for what Kuo described as his continued support for security in the Taiwan Strait and said Taipei would continue strengthening cooperation with Washington.</p>



<p><br>Reuters previously reported that a second US arms package for Taiwan valued at around $14 billion remains pending presidential approval after the Trump administration approved a record $11 billion package in December.</p>



<p><br>Speaking in Taipei, Deputy Foreign Minister Chen Ming-chi declined to comment directly on the pending package because it has not been formally announced, but said Taiwan remained in communication with US officials.</p>



<p><br>Taiwan’s opposition-controlled parliament has delayed the government’s broader effort to secure an additional $40 billion in defense spending. Earlier this month lawmakers approved roughly two-thirds of the requested amount, earmarking it specifically for US arms purchases.</p>



<p><br>Republican and Democratic lawmakers in Washington have publicly urged the Trump administration to maintain weapons sales to Taiwan amid growing Chinese military activity near the island.</p>



<p><br>Trump also suggested after meeting Xi that he could speak directly with Lai regarding the proposed arms sale, saying he would need to talk with “the person … that’s running Taiwan.”</p>



<p><br>Chen said Taipei was still attempting to understand the “true intent” behind Trump’s comments.<br>A senior Taiwanese security official, speaking anonymously because of the sensitivity of the issue, said discussions over arms sales should involve Taiwan rather than Beijing.</p>



<p><br>China claims Taiwan as its territory and has never ruled out the use of force to bring the island under its control. Beijing has rejected repeated offers of talks from Lai, whom Chinese officials label a separatist.<br>Kuo reiterated Taiwan’s long-standing position that the Republic of China, Taiwan’s formal name, is “a sovereign, independent democratic country.”</p>



<p><br>Chinese military operations around Taiwan continued during Trump’s visit to Beijing, according to Taiwanese officials, as tensions over the island’s future remained a central flashpoint in US-China relations.</p>



<p><br></p>
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		<title>Modi’s Gulf-Europe Blitz Targets Energy Shield Amid Iran War Turbulence</title>
		<link>https://millichronicle.com/2026/05/67129.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 07:47:30 +0000</pubDate>
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					<description><![CDATA[New Delhi- Indian Prime Minister Narendra Modi began a five-nation tour on Friday aimed at strengthening energy security, trade partnerships]]></description>
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<p><strong>New Delhi- </strong>Indian Prime Minister Narendra Modi began a five-nation tour on Friday aimed at strengthening energy security, trade partnerships and supply-chain resilience, as the Iran war fuels volatility across Gulf shipping routes and global oil markets.</p>



<p>Modi’s six-day visit starts in the United Arab Emirates before continuing to the Netherlands, Sweden, Norway and Italy, with New Delhi seeking to secure energy supplies and deepen economic ties with Europe following the India-European Union free trade agreement finalized in January.</p>



<p>The trip comes as disruptions around the Strait of Hormuz and Gulf maritime corridors continue to pressure energy-importing economies. India, the world’s third-largest oil buyer, typically sources nearly half of its crude imports through the strategic waterway.</p>



<p>India’s foreign ministry said discussions in the UAE would focus on “strengthening our energy security,” including cooperation on oil and liquefied petroleum gas supplies. The Gulf nation hosts an Indian diaspora estimated at 4.5 million people and remains one of New Delhi’s key energy partners.</p>



<p>Analysts said the visit reflects India’s broader push to diversify strategic partnerships while positioning itself as an alternative manufacturing and technology hub amid shifting geopolitical alignments and supply-chain realignments away from China.</p>



<p>“The recently concluded India-EU free trade agreement has already created momentum,” former Indian ambassador Anil Wadhwa told AFP, adding that India was seeking to position itself as a “trusted economic, technological and clean energy partner.”The European leg of the tour will focus heavily on trade and investment cooperation. </p>



<p>Modi is scheduled to meet Dutch leaders later on Friday for talks expected to cover bilateral trade, defense cooperation, semiconductors, water management, agriculture and healthcare.India and the EU concluded a landmark free trade agreement in January, which Modi described as the “mother of all deals.” European policymakers increasingly view India, the world’s most populous country, as a critical market and strategic counterweight in Asia.</p>



<p>In Sweden, Modi will attend a European business leaders forum alongside Ursula von der Leyen before traveling to Oslo for an India-Nordic summit, marking the first visit by an Indian prime minister to Norway in more than four decades.</p>



<p>Former Indian ambassador K.C. Singh said the Gulf leg of the visit also reflected changing regional alignments following escalating Middle East tensions.“A new international environment now prevails,” Singh told AFP, citing fractures within the Gulf Cooperation Council and growing strategic competition involving Iran, Gulf states, the United States and Israel.</p>



<p>Modi also met Iranian Foreign Minister Abbas Araghchi in New Delhi on Thursday ahead of the trip, underlining India’s effort to maintain diplomatic engagement across rival regional blocs.Energy analysts said New Delhi could pursue agreements linked to strategic petroleum reserves and long-term LPG supply arrangements to reduce vulnerability to price shocks and shipping disruptions.</p>



<p>The Nordic portion of the tour is also expected to include discussions on Arctic cooperation and climate-linked shipping routes. India operates a research station on Norway’s Svalbard archipelago and has increasingly monitored the commercial and environmental implications of melting polar sea ice.</p>



<p>Indian lawmaker Shashi Tharoor wrote in the Indian Express that India and Nordic nations shared interests in preserving international stability “at a time when the turbulence of the Trumpian era has unsettled global norms.”</p>



<p>The final stop of Modi’s tour will be Italy on May 19, where he is expected to meet Prime Minister Giorgia Meloni for talks on bilateral cooperation and regional security issues.</p>
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		<title>Trump-Xi Iran Accord Sharpens Pressure Over Strait, Nuclear Standoff</title>
		<link>https://millichronicle.com/2026/05/67126.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 07:43:47 +0000</pubDate>
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		<guid isPermaLink="false">https://millichronicle.com/?p=67126</guid>

					<description><![CDATA[Beijing-U.S. President Donald Trump said on Friday he and Chinese President Xi Jinping agreed that Iran must not obtain nuclear]]></description>
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<p><strong>Beijing-</strong>U.S. President Donald Trump said on Friday he and Chinese President Xi Jinping agreed that Iran must not obtain nuclear weapons and that the Strait of Hormuz should remain open, as Washington seeks Beijing’s support to contain escalating disruption from the Iran war.</p>



<p><br>Trump’s remarks followed a second day of talks with Xi in Beijing covering Iran, Taiwan, trade and regional security, amid mounting concern over energy supplies and maritime instability linked to the conflict.<br>“We’ve settled a lot of different problems that other people wouldn’t have been able to solve,” Trump told reporters after the meeting.</p>



<p><br>The White House said both leaders agreed the Strait of Hormuz — through which roughly one-fifth of global oil and liquefied natural gas shipments passed before the conflict — must remain open to international shipping.</p>



<p><br>Iran effectively curtailed most commercial traffic through the strategic waterway following U.S.-Israeli strikes that began on Feb. 28, triggering major disruption in global energy markets and renewed fears over supply-chain shocks.</p>



<p><br>Trump said Xi had also assured Washington that China would not provide military equipment to Tehran.<br>“He said he’s not going to give military equipment, that’s a big statement,” Trump said during an interview with Fox News’ “Hannity.”</p>



<p><br>China, Iran’s largest oil customer and one of its closest strategic partners, did not publicly confirm details of the discussions. However, China’s foreign ministry criticized the continuation of the war, saying the conflict “should never have happened” and had no justification to continue.</p>



<p><br>The war has become a growing political and economic challenge for the White House ahead of U.S. midterm elections later this year, with prolonged instability pushing up global energy costs and disrupting shipping routes across the Gulf.</p>



<p><br>Trump signaled increasing impatience with stalled diplomatic efforts involving Tehran.</p>



<p><br>“I am not going to be much more patient. They should make a deal,” Trump said in the televised interview.<br>Negotiations aimed at ending the conflict have remained deadlocked after Iran rejected demands to halt its nuclear program and surrender enriched uranium stockpiles. Tehran maintains its nuclear activities are intended for civilian purposes and denies seeking atomic weapons capability.</p>



<p><br>Trump suggested the issue of Iran’s uranium reserves was partly symbolic from Washington’s perspective.<br>“I just feel better if I got it,” he said, referring to the stockpile. “It’s more for public relations than it is for anything else.”</p>



<p><br>The White House said Xi expressed opposition to the militarisation of the Strait of Hormuz and rejected proposals linked to imposing tolls on shipping transiting the corridor, an idea Iranian officials have previously raised.</p>



<p><br>U.S. Treasury Secretary Scott Bessent said in an interview from Beijing that China had strong economic incentives to help restore maritime traffic through the strait.</p>



<p><br>Analysts, however, questioned whether Beijing would significantly pressure Tehran, given Iran’s strategic value as a counterweight to U.S. influence in the Middle East.</p>



<p><br>The conflict has increasingly spilled into regional shipping lanes.</p>



<p><br>An Indian cargo vessel carrying livestock from Africa to the United Arab Emirates sank off Oman on Wednesday after reportedly being struck by a missile or drone, according to British maritime security firm Vanguard. India said all 14 crew members were rescued.</p>



<p><br>Separately, Britain’s UK Maritime Trade Operations agency reported that unauthorized personnel boarded a vessel anchored near the UAE port of Fujairah and redirected it toward Iranian waters.</p>



<p><br>Vanguard said the ship was believed to have been seized by Iranian personnel.</p>



<p><br>Fujairah, located outside the Strait of Hormuz on the Gulf of Oman, serves as the UAE’s only oil export terminal bypassing the narrow maritime chokepoint.<br>Diplomatic efforts linked to the broader regional conflict continued separately in Washington, where Lebanese and Israeli officials held talks on Thursday that a senior U.S. State Department official described as productive and positive.</p>



<p><br>Trump has said the objectives of the campaign against Iran include dismantling Tehran’s nuclear program, reducing its regional military capabilities and increasing pressure on the Iranian leadership.</p>
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		<title>BRICS Rift Erupts as Iran Accuses UAE of Role in Wartime Strikes</title>
		<link>https://millichronicle.com/2026/05/67123.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 07:38:51 +0000</pubDate>
				<category><![CDATA[Asia]]></category>
		<category><![CDATA[Latest]]></category>
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		<category><![CDATA[Top Stories]]></category>
		<category><![CDATA[Abbas Araqchi]]></category>
		<category><![CDATA[abu dhabi]]></category>
		<category><![CDATA[Benjamin Netanyahu]]></category>
		<category><![CDATA[brics]]></category>
		<category><![CDATA[Diplomacy]]></category>
		<category><![CDATA[foreign ministers]]></category>
		<category><![CDATA[geopolitical conflict]]></category>
		<category><![CDATA[Gulf Security]]></category>
		<category><![CDATA[Gulf tensions]]></category>
		<category><![CDATA[iran]]></category>
		<category><![CDATA[Iran war]]></category>
		<category><![CDATA[israel]]></category>
		<category><![CDATA[Kazem Gharibabadi]]></category>
		<category><![CDATA[middle east]]></category>
		<category><![CDATA[military operations]]></category>
		<category><![CDATA[new delhi]]></category>
		<category><![CDATA[regional tensions]]></category>
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		<guid isPermaLink="false">https://millichronicle.com/?p=67123</guid>

					<description><![CDATA[Dubai-Iran’s Foreign Minister Abbas Araqchi accused the United Arab Emirates of direct involvement in military operations against Iran during a]]></description>
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<p><strong>Dubai-</strong>Iran’s Foreign Minister Abbas Araqchi accused the United Arab Emirates of direct involvement in military operations against Iran during a contentious BRICS foreign ministers’ meeting in New Delhi, escalating tensions between the two Gulf states amid the widening regional conflict.</p>



<p><br>Iranian state media reported on Thursday that Araqchi made the remarks after an exchange with the Emirati delegation at the BRICS gathering, where divisions over the Iran war threatened efforts to issue a joint communique.</p>



<p><br>“I didn’t name the UAE in my statement for the sake of unity,” Araqchi was quoted as saying. “But the truth is that the UAE was directly involved in the aggression against my country.”</p>



<p><br>Iranian media did not specify the comments made by the Emirati representative that prompted the response.</p>



<p><br>The diplomatic dispute followed the UAE’s denial this week of claims by Israeli Prime Minister Benjamin Netanyahu that he had visited the Gulf state during the ongoing Iran conflict.</p>



<p><br>Araqchi had earlier warned that countries “colluding with Israel to sow division will be held to account,” remarks widely interpreted by regional analysts as directed toward Gulf states accused by Tehran of covert coordination with Israel and the United States.</p>



<p><br>The Iran war began on Feb. 28 with U.S. and Israeli strikes targeting Iranian facilities, prompting retaliatory missile and drone attacks by Tehran against U.S. bases and other targets across Gulf countries.</p>



<p><br>Iranian officials have increasingly accused regional governments of facilitating military operations against the Islamic republic, particularly states hosting U.S. military installations.</p>



<p><br>According to Iranian state media, Araqchi argued during the BRICS meeting that reliance on U.S. military bases and security cooperation with Israel would not guarantee the UAE’s stability.</p>



<p><br>“We must live side by side in peace, and this requires peaceful relations and complete understanding between the two countries,” he said.</p>



<p><br>The Wall Street Journal reported earlier this week that the UAE conducted military operations against Iran in early April. Reuters could not independently verify the report. Western and Iranian officials have also said Saudi Arabia carried out multiple unpublicized strikes against Iranian targets during the conflict.</p>



<p><br>The growing friction between Tehran and Abu Dhabi has complicated diplomatic dynamics within BRICS, the bloc comprising Brazil, Russia, India, China, South Africa and several recently admitted members, including Iran and the UAE.</p>



<p><br>Iranian media cited Deputy Foreign Minister Kazem Gharibabadi as saying there were “problems and communications” within the summit process because of the UAE’s participation.</p>



<p><br>The meeting in New Delhi was expected to focus on geopolitical coordination, trade cooperation and reform of global institutions, but the Iran war increasingly overshadowed proceedings as member states struggled to reconcile competing regional interests.</p>
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		<title>India Raises Fuel Prices for First Time in Four Years as Oil Shock Intensifies</title>
		<link>https://millichronicle.com/2026/05/67091.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 04:23:19 +0000</pubDate>
				<category><![CDATA[Asia]]></category>
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		<category><![CDATA[Reuters]]></category>
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		<guid isPermaLink="false">https://millichronicle.com/?p=67091</guid>

					<description><![CDATA[New Delhi- India raised petrol and diesel prices by about 3 rupees per litre on Friday, marking the country’s first]]></description>
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<p><strong>New Delhi- </strong>India raised petrol and diesel prices by about 3 rupees per litre on Friday, marking the country’s first retail fuel price increase in four years as state-run fuel retailers moved to offset losses caused by surging global crude oil prices amid escalating Middle East tensions.</p>



<p>State-controlled fuel retailers said a litre of petrol in Delhi would now cost 97.77 rupees, while diesel prices rose to 90.67 rupees per litre.The increase follows a sharp rise in international crude prices after disruption to shipping through the Strait of Hormuz triggered supply concerns across global energy markets.</p>



<p> Oil prices surged above $120 per barrel before easing to around $100-$105 as markets assessed the impact of the U.S.-Israeli conflict involving Iran.Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation, which together operate more than 90% of India’s roughly 103,000 fuel stations, typically align retail fuel price revisions simultaneously.</p>



<p>India had remained among the few major economies that had not raised domestic retail fuel prices despite sustained volatility in international crude markets.</p>



<p>The latest adjustment is expected to increase transportation and logistics costs across sectors and could add pressure to inflation in Asia’s third-largest economy, where fuel prices have significant downstream effects on food, manufacturing and consumer expenses.</p>



<p>The move also reflects mounting financial strain on state-run fuel retailers, which have absorbed part of the higher import costs in recent months as geopolitical instability disrupted global oil supplies.</p>



<p>India imports more than 80% of its crude oil requirements, making the country particularly vulnerable to external energy shocks and disruptions in major maritime trade routes such as the Strait of Hormuz.</p>



<p>Indian shares were expected to open cautiously on Friday as higher crude prices and ongoing concerns over shipping risks weighed on investor sentiment.</p>



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		<title>Japan Wholesale Inflation Surges on Oil Shock, Fuels June Rate Hike Expectations</title>
		<link>https://millichronicle.com/2026/05/67088.html</link>
		
		<dc:creator><![CDATA[NewsDesk MC]]></dc:creator>
		<pubDate>Fri, 15 May 2026 04:20:26 +0000</pubDate>
				<category><![CDATA[Asia]]></category>
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		<category><![CDATA[japan]]></category>
		<category><![CDATA[Japanese economy]]></category>
		<category><![CDATA[Masato Koike]]></category>
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		<category><![CDATA[wholesale inflation]]></category>
		<category><![CDATA[yen weakness]]></category>
		<guid isPermaLink="false">https://millichronicle.com/?p=67088</guid>

					<description><![CDATA[Tokyo-Japan’s wholesale inflation accelerated in April at the fastest annual pace in nearly three years as surging energy and chemical]]></description>
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<p><strong>Tokyo-</strong>Japan’s wholesale inflation accelerated in April at the fastest annual pace in nearly three years as surging energy and chemical prices linked to Middle East supply disruptions intensified cost pressures, strengthening market expectations that the Bank of Japan could raise interest rates as early as June.</p>



<p><br>Bank of Japan data released Friday showed the corporate goods price index (CGPI), which measures prices companies charge each other for goods and services, rose 4.9% in April from a year earlier, sharply exceeding market forecasts for a 3.0% increase.<br>The annual increase was the fastest since May 2023 and accelerated significantly from March’s 2.9% rise.</p>



<p><br>The figures underscored the growing impact of higher import costs on Japan’s economy following disruptions to oil shipments through the Strait of Hormuz amid the Iran conflict. Japan remains heavily dependent on imported energy, particularly crude oil from the Middle East.</p>



<p><br>The yen-denominated import price index jumped 17.5% in April from a year earlier, marking the steepest increase since December 2022 and reflecting both elevated global energy prices and the weaker yen’s effect on import costs.</p>



<p><br>On a monthly basis, wholesale prices rose 2.3% in April after increasing 1.0% in March, the data showed.<br>Petroleum and coal product prices climbed 5.3% from a year earlier as crude oil and jet fuel costs rose, while chemical goods prices surged 9.2%, the strongest increase since September 2022. Naphtha prices soared 79.4%, according to the report.</p>



<p><br>The data came a day after a Bank of Japan policymaker called for raising interest rates “at the earliest stage possible” to contain inflationary pressures stemming from higher fuel costs and supply disruptions linked to the Middle East conflict.</p>



<p><br>Economists said the breadth of price increases would be closely monitored by policymakers assessing whether inflation pressures are becoming more entrenched across the broader economy.</p>



<p><br>“If price rises are contained to oil-related goods, there is little need for the BOJ to respond,” said Masato Koike, senior economist at Sompo Institute Plus.<br>“But if they broaden to a wide range of goods, the BOJ will likely have to raise rates,” he said.</p>



<p><br>The inflation surge adds to pressure on the central bank as it seeks to normalize monetary policy after years of ultra-low interest rates and stimulus measures aimed at reviving growth and inflation.</p>
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