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☆ Iran-backed Houthis attacked a Chinese ship with missiles after promising to leave them alone
▼ + stars: | 2024-03-25 | by ( Jake Epstein | ) www.businessinsider.com time to read: +4 min

The Houthis reportedly said they would avoid attacking Chinese ships off the coast of Yemen. AdvertisementThe Houthis said they would refrain from attacking Chinese ships off the coast of Yemen, but this past weekend, the Iran-backed rebels did exactly what they said they wouldn't. "The Houthis attacked the M/V Huang despite previously stating they would not attack Chinese vessels," CENTCOM said. The M/V Huang Pu is Chinese owned and operated, but it was sailing under the flag of Panama when it was attacked. "It was determined these UAVs presented an imminent threat to US, coalition, and merchant vessels in the region," CENTCOM said.

Persons: —, Huang Pu, CENTCOM, Huang, Michael Kurilla, Kurilla, Fawaz Salman Organizations: Service, US Central Command, AP, United Nations, Bloomberg, House Armed Services, REUTERS, Ambrey Locations: Yemen, Iran, Beijing, China, Russia, Chinese, Gaza, Sanaa, Gulf of Aden, Tehran, Ukraine, PRC, Aden, Red, Panama

☆ AI infrastructure companies 'are going to be winning' going forward, says analyst
▼ + stars: | 2024-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI infrastructure companies 'are going to be winning' going forward, says analystFawaz Chaudhry, head of equities at Fulcrum Asset Management, discusses U.S. markets and monetary policy.

Persons: Fawaz Chaudhry Organizations: Fulcrum, Management

KFAR KILA, Lebanon (AP) — With a cautious calm prevailing over the border area in south Lebanon Saturday, the second day of a four-day cease-fire between Hamas and Israel, villages that had emptied of their residents came back to life — at least briefly. Around 55,500 Lebanese are displaced by the clashes between the Lebanese militant group Hezbollah and Israeli forces since the beginning of the Israel-Hamas war, according to the International Organization for Migration. UNIFIL said in a statement that the shooting in the border village of Aitaroun occurred during “a period of relative calm” along the Lebanon-Israel border. “This attack on peacekeepers, dedicated to reducing tensions & restoring stability in south Lebanon, is deeply troubling,” UNIFIL tweeted. The Israeli military didn't immediately respond to a request for comment.

Persons: KFAR, —, “, ODAISSEH, Hezbollah weren't, Abdallah Quteish, Houla —, ”, Khalil Ghanam, Issam Abdallah, ” Ghanam, Hussein Fawaz, Fawaz, We’re, didn't Organizations: Hezbollah, International Organization for Migration, Lebanese, UNIFIL Locations: KFAR KILA, Lebanon, Israel, Sabah, Houla, ” Sabah, Marwaheen, Beirut, Alma, Kfar Kila, Israeli, Aitaroun

☆ Gulf bourses mixed as China pessimism offsets higher oil prices
▼ + stars: | 2023-11-12 | by ( Md Manzer Hussain | ) www.reuters.com time to read: +1 min

REUTERS/Hamad I Mohammed/ File Photo Acquire Licensing RightsNov 12 (Reuters) - Gulf stock markets put in a mixed performance on Sunday as higher oil prices were offset by worries of faltering demand from China, the world's top crude importer. Oil prices - a major driver of Gulf financial markets - rose about 2% on Friday as Iraq voiced support for OPEC+ oil cuts ahead of a meeting of the group on Nov. 26. The retailer reported a third-quarter net loss of 202.9 million riyals ($54.1 million) compared to a net profit of 21.1 million riyals a year earlier. Outside the Gulf, Egypt's blue-chip index (.EGX30) fell 1.7%, with Commercial International Bank (COMI.CA) down 2.5% and Misr Fertilizer (MFPC.CA) losing 4.6%. However, Credit Agricole Egypt (CIEB.CA) gained 3.7% as the lender reported a 121% jump in third quarter consolidated net profit.

Persons: Joe Biden, Hamad I Mohammed, Brent, Masraf Al Rayan, Fawaz Abdulaziz Alhokair Co, Md Manzer Hussain, Kirsten Donovan Organizations: Bahrain Bourse, U.S, REUTERS, OPEC, Qatar, Saudi Telecom, Human Resources, Commercial International Bank, Misr, Agricole Egypt, Thomson Locations: Bahrain, Manama, China, Iraq, Saudi

☆ Saudi SCOPA and Airbus agree to produce helicopters in the kingdom -SCOPA CEO
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 19 (Reuters) - Saudi defence company SCOPA Industries and Airbus (AIR.PA) have signed an agreement to jointly produce civil and military helicopters in the kingdom, SCOPA CEO Fawaz Alakeel told Saudi state TV on Monday. He added that SCOPA expects to manufacture more than 100 helicopters and create 8500 jobs in the kingdom. Without giving further details he said the company expects investments worth more than 25 billion riyals ($6.67 billion) over 20 years. Saudi and French companies have signed 24 agreements at the forum, Saudi state TV reported without further details. ($1 = 3.7505 riyals)Reporting by Nayera Abdallah; Editing by Toby Chopra, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Fawaz Alakeel, Saudi Arabia's Crown Prince Mohammed bin Salman, Alakeel, Nayera Abdallah, Toby Chopra, Kirsten Donovan Organizations: SCOPA Industries, Airbus, TV, Saudi Arabia's Crown, Thomson Locations: DUBAI, Saudi, France, Saudi Arabia

☆ Porsche 911 Reimagined by Singer: Posher Than Ever
▼ + stars: | 2023-06-09 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

SPEAK MEMORY Singer Vehicle Design in Torrance, Calif., restores and modifies classic Porsche 911 Carreras from 1989-1994. The air-cooled, largely analog cars represent a ‘sweet spot’ in Porsche’s history, says Mazen Fawaz, the company’s CEO. Photo: Singer Vehicle DesignOUR TEST CAR cannot be bought for love or money. This 1991 Porsche 911 reimagined by Singer Vehicle Design—called the “Hollywood Commission,” in Bahama Yellow—is one of only 450 examples that the Torrance, Calif.-based fantasy factory will build, all of which are spoken for, with average costs in the high six figures, not including the donor car. I was this close.

Persons: Mazen Fawaz Organizations: Carreras, Singer, Hollywood Commission Locations: Torrance , Calif, Torrance, Calif

Cloetta AB, (CLOEb.ST) a Swedish confectioner which makes Lakerol lozenges that use gum arabic, has "ample" stock of the ingredient, a spokesperson said in an email. Global production of gum arabic is about 120,000 tonnes a year, worth $1.1 billion, according to estimates cited by Kerry Group. "Both buyers and sellers are clueless on when things will normalise.”Alwaleed Ali, who owns AGP Innovations Co Ltd, a gum arabic exporting business, said his customers are looking for alternative countries to source gum arabic. It accounts for the livelihoods of thousands of people and the more expensive variety can cost about $3,000 a tonne, according to Gum Sudan. There is a poorer quality, cheaper gum from outside of Sudan, but the preferred ingredient is only found in acacia trees in Sudan, South Sudan and Chad, Alnoor said.

Fawaz Ould Ahmed was taken into custody by the United States and brought to New York on Friday, the Justice Department said in a statement. Ahmed received a death penalty in Mali after pleading guilty to planning and executing the deadly attacks targeting Westerners. The Justice Department said a total of 38 people had died in the three incidents. "The defendant's alleged actions — inhumanely plotting and carrying out ruthless terrorist attacks — were not forgotten and will not be forgiven," said FBI assistant director-in-charge Michael Driscoll. Ahmed told the Malian court that he did not regret the attacks and that he had been seeking revenge for cartoons of the Prophet Mohammad printed in Charlie Hebdo.

Bitcoin balances on crypto exchanges - where retail investors typically transact - have fallen to around 2.3 million from its 2020 all-time high of 3.1 million, exchange Bitfinex said. "There are signs that a significant number of retail investors have been discouraged to the point of exiting crypto entirely," Bitfinex analysts said. DAVID VS GOLIATHCrypto retail investors losing money is nothing new. A study from the Bank of International Settlements (BIS), conducted between 2015 and 2022, estimated that 73% to 81% likely lost money on their investments in cryptocurrencies. Eloisa Marchesoni, a trader who said she had about $2,000 on FTX she was unable to withdraw, is sure crypto will retain its attraction for smaller investors.

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