North Korea Bars Western Influencers from Trade Fair Tour

North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP
North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP
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North Korea Bars Western Influencers from Trade Fair Tour

North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP
North Korea has barred Western influencers from joining tourists to an international trade fair, a China-based tour operator said. STR / KCNA VIA KNS/AFP

North Korea has barred Western influencers from joining a delegation of tourists to an international trade fair in October, a China-based tour operator told AFP on Monday.

Diplomatically isolated North Korea has welcomed sporadic groups of international visitors in recent months, including hundreds of foreign athletes in April for the first Pyongyang International Marathon in six years.

China has historically been the biggest diplomatic, economic and political backer of North Korea, which remains under crippling international sanctions.

Travel agency Young Pioneer Tours (YPT) said on Saturday it would take a group of foreign tourists on a trip to the authoritarian state from October 24 to November 1.

However, the tour would not be open to journalists, travel content creators or influencers, the company said on its website.

YPT co-founder Rowan Beard told AFP the curbs on creators were "a specific request from the North Korean side".

"We anticipate that once the country officially reopens, there may be stricter scrutiny or limitations on influencers and YouTubers joining tours," Beard said.

The company had "no visibility" on when Pyongyang would restart official media delegations, he said.

Several online influencers have shared slickly produced videos from inside North Korea in recent months.

Chad O'Carroll, founder of specialist website NK News, said many influencers tend to have larger audiences than professional journalists, but "they are normally working without editors and tend to gain extra views through sensationalist-style content".

"North Korean authorities likely see few benefits and major risks with allowing social media influencers to visit the country, given what we saw earlier this year," O'Carroll told AFP.

"The result is a community of potential visitors who, in DPRK authorities' minds, are not likely to produce content that is favorable to state interests," he said, using North Korea's official name.

Lavish gifts

The YPT tour, priced at 3,995 euros ($4,704), will depart from the Chinese capital Beijing and take in the Pyongyang Autumn International Trade Fair, North Korea's biggest international business exhibition.

Participants will have a "unique chance" to stroll through more than 450 trade booths exhibiting machinery, information technology, energy, pharmaceuticals, consumer goods and household items.

YPT also said the Pyongyang Chamber of Commerce would "hold a VIP presentation for us for an in-depth overview and insights into the (North Korean) economy".

The itinerary also includes major sights in Pyongyang as well as the first Western visit in more than five years to Mount Myohyang, which boasts a museum of lavish gifts presented to former North Korean leaders.

Chinese people used to make up the bulk of foreign tourists and business visitors to the isolated nuclear nation before it sealed its borders during the Covid-19 pandemic.

However, numbers have not rebounded despite Pyongyang's post-pandemic reopening, a trend that some analysts have attributed to Beijing's anger at North Korea's explicit support for Russia's invasion of Ukraine.



India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
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India Secures 60 Days of Oil Supply amid Hormuz Disruption

Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)
Small boats sail loaded with goods in front of a container ship in the waters of the Strait of Hormuz off the coast of Oman, June 25, 2025 (AFP)

India has secured crude oil supplies for the next 60 days, ensuring stable fuel supplies in the country despite disruption in shipments from the Middle East, the oil ministry said in a statement on Thursday.

India, the world's third biggest oil consumer and importer, was buying over 40% of its oil imports from the Middle East. Those supplies are disrupted due to the US-Israeli war on Iran.

Higher availability of crude in global markets, mainly from the Western hemisphere, has helped offset the shortfall, the government said.

Taking advantage of a temporary US waiver, Indian refiners have also ramped up purchases of Russian crude, securing millions of barrels to fill the supply gap.

"Despite the situation at the Strait of Hormuz, India is today receiving more crude oil from its 41-plus suppliers across the world than what was previously arriving through the Strait," the ministry said.

As a net exporter of petroleum products, India’s domestic availability of petrol and diesel remains structurally secure, the government said.

The world's fourth-largest refiner has oil and fuel stocks sufficient to meet 60 days of demand, against a total storage capacity of 74 days, it added.

"Nearly two months of steady supply is available for every Indian citizen, regardless of what happens globally. The next two months of crude procurement have also been secured," it added.

India has asked refiners to maximize production of liquefied petroleum gas, used as cooking fuel, as the nation was buying 90% of its LPG imports from the Middle East.

Domestic daily LPG production has been increased by 40% to 50,000 metric tons against a requirement of 80,000 tons, it said.

In addition, Indian companies have secured 800,000 tons of LPG cargoes from the United States, Russia, Australia, and other countries, it said.

These shipments, arriving across India's 22 LPG import terminals, provide roughly one month of assured supply, with further procurement underway, the government said.


SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services
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SAMA Licenses Two Companies to Provide Open Banking Services

SAMA Licenses Two Companies to Provide Open Banking Services

The Saudi Central Bank (SAMA) announced the licensing of “Altknwlwjya aljadydh llhulul albrmjyh” and “lyn tknwlwjyz Company Saudi Arabia litqniyat nuzum almaelumat” to conduct payment services by providing account information—one of the services associated with open banking.

The licenses were granted following the successful completion of the regulatory sandbox phase under SAMA’s supervision.

The decision reflects SAMA’s ongoing efforts to support and enable the financial sector, enhance the efficiency and flexibility of financial transactions, and promote innovation in financial services. This aims to advancing financial inclusion and expanding access to financial services across all segments of society.

SAMA emphasizes the importance of dealing exclusively with authorized financial institutions. To view licensed and permitted financial institutions, visit SAMA's official website.


UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
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UK Suffers OECD's Biggest Growth Downgrade as Iran War Pushes Up Energy Costs

This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)
This overhead view shows buildings along the River Thames in London on March 25, 2026. (Photo by JUSTIN TALLIS / AFP)

Britain's economic ‌growth prospects this year received the sharpest downgrade of any major economy in the OECD's interim forecast update on Thursday following the US-Israeli war ​on Iran, while inflation is set to rise faster too.

The Paris-based international body cut its 2026 forecast for British economic growth by half a percentage point to 0.7%, compared with a 0.4 percentage point downgrade for the euro zone and a 0.3 percentage point upgrade for the United States.

"Planned fiscal tightening and higher energy prices ‌are anticipated to keep ‌growth subdued in the United ​Kingdom, ‌though the ⁠impact ​will be ⁠attenuated by lower policy rates next year," Reuters quoted the OECD as saying in its report.

Following are further highlights from the report and other context:

Britain's growth forecast for 2027 is unchanged at 1.3%.

Britain's inflation forecast for 2026 is revised up by 1.5 percentage points from December to 4.0%, the ⁠biggest upward revision of any large, advanced ‌economy.

UK inflation in 2027 ‌is forecast to be 2.6%, 0.5 percentage ​points higher than in ‌December and above the Bank of England's 2% target.

Poorer UK households spend more on gas and electricity than in other rich countries, though total energy spending makes up a smaller share of UK inflation than elsewhere.

The OECD expects the ‌BoE to keep interest rates unchanged this year then cut in Q1 2027 as inflation ⁠eases.

⁠Britain's Office for Budget Responsibility, in forecasts finalized just before the start of the conflict, predicted GDP growth of 1.1% this year and 1.6% in 2027.

The BoE this month forecast inflation would rise to 3.0-3.5% over the next couple of quarters.

Prime Minister Keir Starmer has made boosting growth and reducing the cost of living top goals for his government.

Finance minister Rachel Reeves said the forecasts showed the war in the Middle East ​was affecting Britain but ​she would still focus on "regional growth, embracing AI and innovation, and establishing a closer relationship with the EU."