Prime Minister Narendra Modi publicly acknowledged the growing cultural footprint of South Korean entertainment in India, citing K-pop music and Korean television dramas as having built a substantial following, especially among younger Indian audiences. The remarks came alongside an announcement of a dedicated India-Korea Friendship Festival scheduled for 2028, signaling an intent to institutionalize bilateral cultural ties. The festival represents a formal diplomatic gesture, elevating what has largely been an organic, consumer-driven cultural exchange into state-level engagement. For India-Korea relations, the move reflects a broader pattern of using soft power as scaffolding for deeper economic and strategic partnership. The 2028 timeline gives both governments runway to structure programming, funding, and participation frameworks. Businesses operating in Korean entertainment, consumer goods, and media distribution in India may find the official endorsement useful in deepening market access conversations ahead of the event.
Qatar's foreign ministry said mediators including Qatar, Pakistan, and Oman have reached "very progressive stages" in efforts to end the US-Iran war, pushing Brent crude down more than four percent.
Qatar confirmed it is mediating between the US and Iran but said no direct talks are currently planned. The clarification follows conflicting statements from President Trump, who claimed talks are under way, and Tehran, which denied any dialogue is happening.
Saudi Aramco reported sharply higher second-quarter 2026 profits as the Iran war restricts global oil supply and pushes crude prices up. Other oil supermajors also posted outsized earnings, raising concerns about sustained fuel cost pressure for importing economies.
President Trump called current Iran negotiations the "last chance" to end five months of conflict, pushing oil prices higher. Tehran denied formal talks are taking place, raising the risk of a diplomatic breakdown with direct consequences for global energy markets.