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Japan PM Ishiba says he will resign

Japan’s Prime Minister Shigeru Ishiba said on Sunday he would step down after less than a year in power, during which he lost his majority in both houses of parliament.The announcement means fresh uncertainty for the world’s fourth-largest economy as it battles rising food prices and deals with the fallout of US tariffs on its …

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Key OPEC+ members boost oil production

Eight key members of the OPEC+ alliance said Sunday they have agreed to again boost oil production, in a strategy analysts saw as a bid to gain a bigger market share of crude sales.Oil ministers in the V8 grouping — comprising Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman — decided to increase production by 137,000 barrels a day (bpd) from next month, they said in a statement.Those countries had already increased production by 2.2 million bpd in recent months.In their statement issued after an online meeting on Sunday, they said that the new incoming cycle could see up to an extra 1.65 million bpd eventually coming onto the market.”OPEC+ caught the market off guard today — instead of pausing, the group signalled ambition with a production hike. The barrels may be small, but the message is big,” said Jorge Leon, an analyst at Rystad Energy.”OPEC+ is prioritising market share even if it risks softer prices,” he said.Oil prices are currently hovering around $65-70 per barrel, having tumbled 12 percent this year as global producers outside OPEC+ ramp up supply and tariffs curb demand.OPEC+ — which comprises the 12-nation Organization of the Petroleum Exporting Countries (OPEC) and its allies — had in recent years seen through several output cuts amounting to a total of almost six million bpd.Analysts, up to a week ago, had been saying the V8 was likely to maintain their current output levels in October.By raising them, even by a relatively modest 137,000 bpd, the V8 instead indicated that OPEC+ was willing to weather prices falling below $60 a barrel if it meant regaining market share.Leon said: “In reality, the actual production boost will be far smaller, given capacity limits and the compensation mechanism. But perception often matters more than physical barrels.”Still, he said, “the move raises questions about unity: countries like Russia depend on high prices to fund their war machine, while others are willing to test lower prices for market share”.- Geopolitical factors -The real test for OPEC+ will be the last three months of this year, a period when seasonal demand tends to be lower, he said.Oil specialists are keeping a close eye on Moscow’s war in Ukraine as well as developments regarding US-Russia relations — geopolitical factors that could impact oil prices.US President Donald Trump, whose efforts to mediate between Russia and Ukraine have failed to produce a breakthrough, has recently targeted Russian oil and those who buy it. In August, he imposed higher tariffs on India as punishment for its purchases of Russian oil. In a meeting with allies of Ukraine who gathered in Paris on Thursday, Trump told leaders via a video conference that he was frustrated with EU purchases of Russian oil, particularly by Hungary and Slovakia.Curbing Russian exports could free up market space for OPEC+ nations.

UK police say almost 900 arrests made at Palestine Action demo

A total of 890 people were arrested in London during a protest this weekend in support of the banned group Palestine Action, the capital’s Metropolitan Police said Sunday.The force said 857 people had been arrested under anti-terror laws for supporting a proscribed group during Saturday’s demonstration, with an additional 33 arrested for other offences including assaults on police officers.”We have a duty to enforce the law without fear or favour. If you advertise that you are intending to commit a crime, we have no option but to respond accordingly,” deputy assistant commissioner Claire Smart said in a statement.The government in July proscribed Palestine Action under the UK’s Terrorism Act of 2000 following several acts of vandalism, including against two planes at a Royal Air Force base, which caused an estimated £7 million ($10 million) in damage.Critics, including the United Nations, have condemned the ban as legal overreach and a threat to free speech, but ministers insist that people are still able to attend pro-Palestinian marches.”The contrast between this demonstration and the other protests we policed yesterday, including the Palestine Coalition march attended by around 20,000 people, was stark,” added Smart. “You can express your support for a cause without committing an offence under the Terrorism Act or descending into violence and disorder, and many thousands of people do that in London every week.”An estimated 1,500 took part in the Palestine Action protest outside parliament, with the Met condemning the “intolerable” abuse it claims its officers suffered.Of the 33 people arrested for non-terror offences, 17 were for assaults on police officers, the force said.The organisers of the protest, the campaign group Defend Our Juries (DOJ), said the “Lift the Ban” rally had been “the picture of peaceful protest”.Many of those detained for showing support for Palestine Action appeared to be older people.Most face six months in prison if convicted but organisers of the rallies could be sentenced to up to 14 years if found guilty.Five members of Defend our Juries were arrested earlier this week ahead of the protest.Ex-interior minister Yvette Cooper, who oversaw the ban, has accused Palestine Action of orchestrating “aggressive and intimidatory attacks against businesses, institutions and the public”.Cooper has also suggested that some supporters of Palestine Action “don’t know the full nature of this organisation, because of court restrictions on reporting while serious prosecutions are under way”.The ban does seem to have increased support for what was previously a little-known organisation.”It’s so important for me that groups that are called terrorist groups must be terrorist groups,” said 60-year-old greengrocer Philip Hughes, holding a placard that read, “I oppose genocide. I support Palestine Action”.”You cannot go and use terrorism laws to go and stop an organisation who object to something that you have done,” he told AFP.The rallies came as Israel launched new strikes on Gaza, with the stated aim of seizing Gaza City to defeat the militant group Hamas.