DIRS.INFO The most relevant business & tech news

☆ A US ally is forging ties with China's air force but probably won't get its J-20 stealth fighter
▼ + stars: | 2024-05-08 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

The UAE is boosting ties with China's air force. Major General Saleh Mohammed bin Mejren Al Ameri, commander of the UAE's Joint Operations, met with the commander of China's People's Liberation Army Air Force on April 23 to promote closer air force cooperation. Another even speculated Abu Dhabi may eventually seek China's premier stealth fighter: the fifth-generation J-20 Mighty Dragon. I don't see this relationship developing into something similar to what the UAE Air Force has with France or even Russia anytime soon." Furthermore, the Emirati air force fighter fleet is already large for such a small country, making it unlikely the L-15s will serve any combat role.

Persons: —, General Saleh Mohammed bin Mejren Al Ameri, China's, Abu Dhabi, Abu, Abu Dhabi's, Ahmed Aboudouh, Aboudouh, Washington's hesitance, Fred Tanneau, Sebastien Roblin, Roblin, haven't, Russia's Su, Robin Organizations: Service, United, Liberation Army Air Force, Dassault Rafales, Chatham House, China Studies Unit, Emirates Policy Center, Rafale, Dassault Aviation, UAE Air Force, UAE, China hasn't, FC, Korea's KF, UAE . The Emirates, KF Locations: UAE, Washington, Beijing, United Arab Emirates, China, United States, Abu Dhabi, UAE's, France, Abu, Russia, Saudi, Pakistan, Ukraine

☆ Saudi Arabia needs peace in the Middle East for its $500 billion Neom megaproject to succeed
▼ + stars: | 2024-05-07 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

In March 2023, Iran and Saudi Arabia brokered a deal to re-establish diplomatic relations. Related storiesThe US and Saudi Arabia are in the final steps of a new agreement on security guarantees and civilian nuclear assistance, Reuters reported last week. Many of Neom's projects aimed at capturing the luxury tourism market are located along the Red Sea coast. Set to open next year, Neom's luxury island resort of Sindalah is advertised as an "exclusive gateway to the stunning Red Sea." Saudi officials are already fighting to combat claims that Neom is facing delays and setbacks.

Persons: —, it's, Israel, Kristian Coates Ulrichsen, Ulrichsen, Robert Mogielnicki, Mogielnicki, Neom Organizations: Saudi, Service, Neom, New York Times, Reuters, Rice, Baker Institute for Public Policy, Gulf States Institute, Bloomberg, Business Locations: Saudi, Dubai, Israel, Gaza, Iran, Saudi Arabia, China, Palestinian, Israeli, Red, Jeddah

☆ The Israelis aren't happy with the terms of the cease-fire deal, analyst says
▼ + stars: | 2024-05-07 | 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 EmailThe Israelis aren't happy with the terms of the cease-fire deal, analyst saysHussein Ibish, senior resident scholar at Arab Gulf States Institute in Washington, says "they want more freedom of movement" and "all hostages released without agreeing to a cease-fire."

Persons: Hussein Ibish Organizations: Gulf States Institute Locations: Washington

☆ Opinion | Israel Shutters One of Its Few Links to the Arab World
▼ + stars: | 2024-05-07 | by ( Serge Schmemann | ) www.nytimes.com time to read: +2 min

The Israeli government’s decision to kick Al Jazeera out of Israel says more about the government than the TV network. The Arabic programming on Al Jazeera may often be tendentious and anti-Israeli, but shutting it down further erodes Israel’s proud image as a democracy in a neighborhood populated largely by authoritarian or hereditary rulers. Prime Minister Benjamin Netanyahu of Israel accused Al Jazeera of being a security threat by serving as a megaphone for Hamas. Founded in 1996, Al Jazeera is the most popular source of news for much of the Arab world. From a purely tactical point of view, having an Al Jazeera bureau in Israel gave Israelis a better shot at getting their message to the Arab world than shutting it down.

Persons: Al Jazeera, Benjamin Netanyahu, Israel, Hamza al, Al, Wael al Organizations: Al, Gulf States, Israel Locations: Israel, Al, Egypt, Gulf, Gaza, Al Jazeera’s Gaza, Al Jazeera

☆ Hamas has proposed a ceasefire deal. Here’s why that won’t bring an immediate end to the war in Gaza
▼ + stars: | 2024-05-06 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

CNN —When Hamas declared on Monday evening that it has “agreed” to a ceasefire deal, it caught many off guard. But US officials have pushed back on Hamas’ claim that it had “agreed” to a ceasefire deal, instead characterizing the response as a counterproposal with changes. The Hamas proposal calls for an end to the war, which is a red line for Israeli Prime Minister Benjamin Netanyahu, a senior American official told CNN. “Both sides only want a ceasefire deal that ensures their political survival,” Lowenstein said. It is not a list of individuals who can be killed or infrastructure and equipment that can be destroyed,” Ibish told CNN.

Persons: CNN —, ”, Israel, Bill Burns, Benny Gantz, Benjamin Netanyahu, Matan Golan, Frank Lowenstein, Barack Obama, ” Lowenstein, Netanyahu — “, Netanyahu, Barak Ravid, CNN’s Anderson Cooper, Hamas’s, Biden, doesn’t, Lowenstein, “ Bibi, he’s, Khan Younis, “, that’s, Bibi, it’s, ” Hussein Ibish, Ibish, ” Ibish, “ Netanyahu Organizations: CNN, Hamas, CIA, Qatari, Israeli, Palestinian, Israel, AFP, Getty, Gulf States Institute Locations: Gaza, Rafah, Egypt, Cairo, Israel, “, American, Tel Aviv, Washington ,, Qatar

☆ Opinion: Unable to ‘win’ in Gaza, Israel sets its sights elsewhere
▼ + stars: | 2024-05-02 | by ( Opinion Hussein Ibish | ) edition.cnn.com time to read: +10 min

CNN —An eerie relative calm has descended on the Middle East — Gaza obviously excluded — since a highly alarming exchange of missile, rocket and drone attacks by Israel and Iran in recent weeks. Now, the recent exchange of direct military attacks with Iran might have sealed Lebanon’s fate, unless team Biden can restrain Israel. On April 1, Israel struck an Iranian diplomatic facility in Damascus, killing a number of senior Iranian officials including Brig. As Israel’s forces moved south through Gaza, obliterating Hamas brigades with relative ease, its thinking relatively quickly turned north again. If this happens, a primary US goal regarding the Gaza war — conflict containment — would be shattered not by Washington’s adversaries, but ironically by its closest regional partner.

Persons: Hussein Ibish, Read, Biden, Israel, Mohammad Reza Zahedi, Haji Rahimi, Hossein Amirollah, Louai Beshara, Benjamin Netanyahu, Yoav Gallant, Charbel Mallo, Israel —, Joe Biden Organizations: Gulf States Institute, Israel, CNN, Biden, Hezbollah, Brig, Iran’s, Quds Force, Getty, Iranian, Israeli Locations: Washington, East, Gaza, Israel, Iran, Lebanon, Iranian, Damascus, Brig, Syria, AFP, Tehran, United States, Kafr Kila, Lebanese

☆ Dubai reveals massive plans for the world’s busiest airport
▼ + stars: | 2024-04-30 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +7 min

A mammoth airport in Saudi Arabia has already set records for size, but new plans in Dubai are ratcheting up the race to be the world’s busiest airport by passenger volume. Saudi Arabia’s King Fahd International Airport currently wears the crown as the largest airport in the world by area. “It will be five times the size of the current Dubai International Airport, and all operations at Dubai International Airport will be transferred to it in the coming years,” Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, said Sunday when outlining Dubai Aviation Engineering Projects’ strategic plan. The other, Dubai International Airport, was just ranked the No. Dubai AirportsAt present, Dubai World Central’s primary role is as a center for aircraft maintenance, repair and overhaul – “MRO” in industry parlance.

Persons: Saudi Arabia’s King, Atlanta’s, Jackson’s, It’s, Al Maktoum, Markus Mainka, That’s, ” Sheikh Mohammed bin Rashid Al Maktoum, ”, Sheikh Mohammed bin Rashid Al Maktoum, X, Paul Griffiths, Abu Dhabi’s, Foster Organizations: CNN, Saudi, Saudi Arabia’s King Fahd International, King Fahd, Atlanta’s Hartsfield, Jackson, Al, Al Maktoum International, Dubai International Airport, Dubai International, Dubai Aviation Engineering, Emirates Cargo, UAE, Emirates, Dubai Airports, Hamad International Airport, Kuwait International, Partners, Sharjah International Airport, Air Locations: Gulf States, Saudi Arabia, Dubai, Bahrain, Hartsfield, Al Maktoum, Saudi, Qatar, Muscat , Oman, Gulf, Kuwait, British, Dubai’s, Sharjah

Their friendship was tested in 2017 when then President Trump supported a blockade of Qatar led by Saudi Arabia and the United Arab Emirates. Before the Oct. 7 attack, the Saudis were in serious talks, led by the United States, to recognize Israel. 8 of 12 Israel has a major incentive to strengthen relations with Saudi Arabia. Saudi Arabia, for its part, would benefit from direct access to the Israeli military and technology sector. In March 2023, China brokered a breakthrough, re-establishing ties between two of the region’s heavyweights, Iran and Saudi Arabia.

Persons: Benjamin Netanyahu, brandished, Jake Sullivan, —, frenemies, Israel, Netanyahu’s, Trump, Biden, Saudi Crown Prince Mohammed bin, Prince Mohammed, Bashar al, Assad, Saddam Hussein, Jordan —, hesitantly, Abraham Organizations: of Friends, General Assembly, U.S, America, Hamas, United, United Arab Emirates, Saudi Crown, Arab League, Saudi Arabia, Red Sea, Iranian, Abraham Accords, United Arab, Palestine Liberation Organization, West Bank, Palestinian Authority, The, Trump, Biden, Israel Defense Forces, United Nations, New York, Facebook Locations: India, Persian, Israel, Europe, Iran, United States, U.S, East, China, Russia, Ukraine, Syria, Yemen, Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Sudan Oman, Israel Yemen Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan, Sea Oman, Israel Yemen Ethiopia Turkey Syria Lebanon Afghanistan Israel Iraq Iran Pakistan Egypt India Qatar Saudi Arabia Arabian, Sudan Oman, Israel Yemen Ethiopia, Gaza, Qatar, Saudi Arabia, United Arab, Saudi, Tehran, Iraq, Assad, Lebanon, Lebanese, Egypt, Jordan, Bahrain, United Arab Emirates, Morocco, Fatah, Israeli, Turkey, America

☆ Photos show heavy rain and severe flooding in the United Arab Emirates
▼ + stars: | 2024-04-17 | by ( Matt Clinch | ) www.cnbc.com time to read: 1 min

Storms and heavy rain have caused flooding in some Gulf states, leading to the Tuesday closure of Dubai's airport — one of the busiest in the world. The United Arab Emirates, usually known for its hot and sunny weather, reportedly saw over 100 mm of rain in a 24-hour period, marking a 75-year record since the country began logging rainfall. The local government also issued a red warning and shuttered offices, school and banks. The storms hit other parts of the Middle East, with at least 19 dead in Oman due to flooding, according to local media.

Organizations: United Locations: United Arab Emirates, Oman

☆ Iran's attack on Israel: Analyst discusses Israel's 'most dangerous' option
▼ + stars: | 2024-04-15 | 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 EmailIran's attack on Israel: Analyst discusses Israel's 'most dangerous' optionHussein Ibish, senior resident scholar at the Arab Gulf States Institute in Washington, discusses Iran's drone and missile attack on Israel.

Persons: Hussein Ibish Organizations: Gulf States Institute Locations: Israel, Washington

☆ Restraint or retribution? Israel faces dilemma in its response to Iran’s attack
▼ + stars: | 2024-04-15 | by ( Nadeen Ebrahim | Jeremy Diamond | ) edition.cnn.com time to read: +10 min

Israel must balance international pressure to show restraint on the one hand, while searching for an appropriate response to an unprecedented attack. Western and Arab allies of Israel have been discouraging it from responding to Iran’s attack. Benny Gantz, a key member of the war cabinet, has pushed for a swifter response to Iran’s attack, two Israeli officials told CNN. He believes that the longer Israel delays its response to Iran’s attack, the harder it will be to garner international support for it, the sources said. Risking Arab tiesArab states, including those that are friendly with Israel, have expressed concern about a potential escalation from Iran’s attack, but haven’t outright condemned it.

Persons: CNN —, Benjamin Netanyahu, ”, Raz Zimmt, Israel …, Amir Cohen, ” Zimmt, Alon Pinkas, Tamir Hayman, Israel’s, Jordan, ” Hayman, Joe Biden, Biden, Adam Schultz, Netanyahu, Netanyahu’s, it’s, ” Pinkas, Pinkas, Louai Beshara, Israel, ” Yaakov Amidror, Iran’s, Benny Gantz, haven’t, CNN’s Becky Anderson, Ayman Safadi, ” Safadi Organizations: CNN, Islamic, Analysts, Hamas, Institute for National Security Studies, Sunday, Reuters, National Security, White, Domestic, Getty Locations: CNN — Israel, Islamic Republic, Israel, Iran, Damascus, Gaza, Tel Aviv, Tehran, Ashkelon, Israeli, France, Pinkas, Iranian, Syria, AFP, Rafah, United States, Jerusalem, Jordanian, “, Persian, Hormuz

☆ Arab states unexpectedly helped Israel fight off Iran's attack
▼ + stars: | 2024-04-15 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

Jordan shot down an Iranian missile, and other Arab states may've provided intel. In March, Saudi Arabia and Iran restored ties with the help of China, agreeing to reopen embassies in their respective capitals. AdvertisementHowever, according to reports, Saudi Arabia and other Arab states are willing to continue discussions with Israel once fighting in Gaza has abated. There is a risk for Arab states though in being seen to come to Israel's aid, Giorgio Cafiero, CEO of Gulf State Analytics, told Business Insider. AdvertisementAs the conflict between Israel and Iran intensifies, Arab states face a tough choice between their security priorities and addressing public anger over Gaza.

Persons: Israel, Jordan, may've, —, Samih, Marj Al, Yasmine Farouk, Farouk, Abraham, Trump, Israel's, Giorgio Cafiero Organizations: intel, Service, Deutsche Welle, St, Anadolu, Getty, Israel, Carnegie Endowment, International Peace, New York Times, Abraham Accords, Analytics Locations: Iranian, Israel, Iran, Damascus, Jordan, Gaza, Jordanian, Saudi Arabia, UAE, Gulf, Marj, Amman , Jordan, China, Bahrain, Amman

☆ Iran's strike on Israel shows how the Biden administration has lost control of the conflict, foreign policy expert says
▼ + stars: | 2024-04-14 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +5 min

President Joe Biden told reporters on Friday that he expected Iran to attack Israel "sooner, rather than later." Advertisement"The fact that the Biden administration is both arming Israel and sending aid to Gaza shows the world that the Biden team has no strategic competence," McFate said. But the president's support for Israel runs counter to the reasons he said the US should support Ukraine. "I've just spoken with Prime Minister Netanyahu to reaffirm America's ironclad commitment to the security of Israel," Biden said. However, in the same call, Biden told the prime minister that the US will oppose a counterattack against Iran, a senior White House official told CNN.

Persons: —, Joe Biden, Sean McFate, McFate, Biden, Israel, They've, Benjamin Netanyahu, Netanyahu Organizations: Service, Associated Press, Business, Israel, Syracuse University's Maxwell School of Citizenship, Public Affairs, Washington Post, Biden, Ukraine, Israeli, White House, CNN Locations: Israel, Gaza, Iran, Syria, Damascus, Hamas, Saudi Arabia, Russia, Ukraine

☆ 'An extraordinary thing': U.S. break with Israel on UN cease-fire vote triggers Netanyahu rage
▼ + stars: | 2024-03-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +4 min

Israeli Prime Minister Benjamin Netanyahu had warned prior to the vote that the delegation's visit would be pulled, if Washington did not veto the motion. "The U.S. declining to protect Israel from a resolution it passionately objects to by not providing a veto is an extraordinary thing." The motion also called for the immediate and unconditional release of all hostages held by Hamas in the Gaza Strip. "In this case, the abstention is a very strong signal to Israel that the United States is losing patience," Ibish said. Smoke billows after Israeli bombardment in central Gaza City on March 18, 2024, amid the ongoing battles between Israel and the militant group Hamas.

Persons: United Nations Linda Thomas, Greenfield, Angela Weiss, Israel, Benjamin Netanyahu, Hussein Ibish, Matthew Miller, Miller, Netanyahu, Chuck Schumer, Ibish, Israel's, Biden Organizations: United Nations, United Nations Security, UN, Afp, Getty, Hamas, White, Security, U.S, UN Security Council, Gulf States Institute, CNBC Locations: Gaza, New York, Israel, Palestinian, Washington, Israeli, United States, Rafah, Gaza City

From 1985 to 2002, he worked at Goldman Sachs, one of the most storied — and criticized — investment banks on Wall Street. He famously swooped in to turn around the struggling IndyMac bank after its failure in the financial crisis of 2008. Earlier this month, Mnuchin jumped back into the headlines when his PE firm led a roughly $1 billion investment in embattled New York Community Bancorp. In 2009, OneWest Bank Group, where Mnuchin was chairman and CEO, bought the troubled IndyMac after federal regulators took over the bank. Mnuchin was Treasury secretary in 2020, when the Trump administration brokered a deal where Oracle and Walmart would take a large stake in TikTok.

Persons: Steven Mnuchin, Donald Trump’s, Goldman Sachs, Mnuchin, Max, Mnuchin's dealmaking, Robert Weissman, ” Weissman, Robert Rubin, Clinton, Weissman, couldn’t, NYCB, George Soros, John Paulson, OneWest, Kevin Kaiser, “, ” Kaiser, Maxine Waters, ”, Trump, doesn't, Chris Caulfield, ” Caulfield, ” ___ Rugaber Organizations: Trump, Public Citizen, Treasury, Treasury Department, Liberty Strategic Capital, Citizens, New York Community Bancorp, OneWest Bank Group, Federal, of Insurance Corp, FDIC, Wharton School, Oracle, Walmart, CNBC Locations: Wall, TikTok, Saudi Arabia, East, Washington, Congress, U.S, China, West Monroe, “

The Yemen-based branch of Al Qaeda said on Sunday that its leader, Khaled Batarfi, had died. Al Qaeda in the Arabian Peninsula, known as A.Q.A.P., released a video announcing Mr. Batarfi’s death, showing images of him wrapped in a white funeral shroud overlaid with a black Al Qaeda flag. The United States government once considered Al Qaeda in the Arabian Peninsula to be one of the world’s most dangerous terrorist organizations. The United States previously offered a $6 million reward for information about Mr. al-Awlaki, and $5 million for tips about Mr. Batarfi. Born in Saudi Arabia, Mr. Batarfi traveled in the 1990s to Afghanistan and fought alongside the Taliban before joining Al Qaeda’s branch in Yemen, according to a U.S. informational sheet about him.

Persons: Al Qaeda, Khaled Batarfi, Batarfi’s, ”, Gregory D, Johnsen, “, Ibrahim Al, Batarfi, Saad bin Atef, Awlaki Organizations: Al, United, Gulf States Institute Locations: Yemen, Al, Al Qaeda, United States, American, Washington, Sudanese, Saudi Arabia, Afghanistan, Al Qaeda’s

☆ The 'special relationship' under pressure: Are Biden and Netanyahu on a collision course over Gaza?
▼ + stars: | 2024-03-08 | by ( Natasha Turak | ) www.cnbc.com time to read: +8 min

US President Joe Biden (L) and Prime Minister Benjamin Netanyahu (R) meet in Tel Aviv, Israel on October 18, 2023. "The relationship [between Biden and Netanyahu] is absolutely terrible." A report by Politico in early February cited unnamed Biden administration officials describing the president calling Netanyahu a "bad f—ng guy." Israeli war cabinet member Benny Gantz (L) meets US Senate Majority Leader Chuck Schumer, Democrat of New York, at the US Capitol on March 05, 2024. Gantz reportedly faced a barrage of harsh questions and critiques from the administration over Israel's handling of the Gaza war.

Persons: Joe Biden, Benjamin Netanyahu, Biden, Israel's, Yasser Qudih, Netanyahu, Hussein Ibish, Benny Gantz, Chuck Schumer, Roberto Schmidt, Axios, Gantz, Donald Trump, Kamala Harris, Mostafa Bassim, Nimrod Novik, Novik, Ashraf Amra, I've, Ibish, Yonatan Freeman, Israel, Freeman Organizations: GPO, Getty Images, Anadolu Agency, Getty, White, Israeli, Biden, Palestinian, United Nations, Israel, Anadolu, West Bank, U.S, Gulf States Institute, CNBC, Politico, Capitol, AFP, Prime, Islamic Center of Detroit, Defense, Israel Policy Forum, Bank, Israel's Hebrew University, Christian Locations: Tel Aviv, Israel, Anadolu, Gaza, Rafah, Gaza's, Washington, New York, Michigan, United States, Palestinian, Gaza City, Jerusalem, U.S, Saudi Arabia

☆ Goldman Sachs and Abu Dhabi's Mubadala ink $1 billion partnership to invest in Asia Pacific
▼ + stars: | 2024-02-26 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

DUBAI, United Arab Emirates — Goldman Sachs and Abu Dhabi sovereign wealth fund Mubadala on Monday signed a $1 billion private credit partnership to co-invest in the Asia-Pacific region, with a particular focus on India, the institutions said in a joint statement. The separately managed account, termed the "Partnership," will be managed by Private Credit at Goldman Sachs Alternatives, with a staff based on the ground in various markets across the region. It will invest the long-term capital in "high quality companies ... across the private credit spectrum" across a number of Asia-Pacific markets. The UAE in October 2023 announced a target to invest $75 billion in India over a period of time, while Saudi Arabia set an investment target in the country of $100 billion. "India, in particular, stands out as a key market with significant opportunities in private credit, and where Goldman Sachs has strong exposure and capabilities," said Fabrizio Bocciardi, Mubadala's head of credit investments, in a press release.

Persons: United Arab Emirates — Goldman Sachs, Goldman Sachs, Fabrizio Bocciardi Organizations: United Arab Emirates, Monday, Private Credit, Goldman Sachs, Abu Dhabi Global Market, United Arab Locations: DUBAI, United Arab, Abu Dhabi, Asia, Pacific, India, United Arab Emirates, UAE, Saudi Arabia

☆ Opinion: Conflict is the new normal
▼ + stars: | 2024-02-23 | by ( Fareed Zakaria | ) edition.cnn.com time to read: +6 min

Editor’s Note: Fareed Zakaria is the host of Fareed Zakaria GPS, airing at 10 a.m. and 1 p.m. But conflict is the new normal. The war is going badly for Ukraine, which is critically outgunned and outmanned by its much larger adversary. The IDF’s goal is to weaken Hezbollah to the point that the roughly 80,000 Israelis who fled their homes in northern Israel can return. At some point, Hezbollah might respond forcefully, which could trigger an Israeli incursion into Lebanon, truly widening the war.

Persons: Fareed Zakaria, Fareed, Read, Vladimir Putin, Benjamin Netanyahu’s, Netanyahu, Amir Levy, —, don’t Organizations: CNN, Fareed’s, European, Gulf, Israel Defense Forces, United, British Navy, Republicans Locations: Ukraine, Europe, Russia, European, North Korea, Cuba, China, India, Turkey, Gulf States, Gaza, Hamas, British, Palestinian, Israel, Lebanon, North, Suez, United States, Red

☆ Saudi Arabia's futuristic megaprojects are so expensive that even its oil riches may not be enough
▼ + stars: | 2024-02-20 | by ( Tom Porter | Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

AdvertisementSaudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported. Under its ambitious ruler Mohammed bin Salman's Vision 2030 project, Saudi Arabia is seeking to diversify its economy away from fossil fuels and become a global hub for technology and innovation. The Saudi sovereign wealth fund, the Public Investment Fund, is providing funding for cornerstone "gigaprojects" estimated to cost tens of billions of dollars apiece. He said Saudi Arabia may need to raise another $270 billion for the Public Investment Fund by 2030. AdvertisementThe International Monetary Fund said in October that the Saudis needed oil to be about $86 a barrel to fund its spending commitments.

Persons: Mohammed bin Salman's, Tim Callen, Brent, Karen Young Organizations: Street Journal, Public Investment Fund, Aramco, Gulf States Institute, Saudi, Bloomberg, Monetary Fund, US Energy Information Administration, Middle East Institute Locations: Saudi Arabia, Saudi, Washington, Diryah

☆ Saudi Arabia is reportedly borrowing to help fund its megaprojects as oil prices struggle
▼ + stars: | 2024-02-20 | by ( Tom Porter | Hasan Chowdhury | ) www.businessinsider.com time to read: +3 min

Saudi Arabia has started borrowing to fund megaprojects including Neom, The Wall Street Journal reported. AdvertisementSaudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported. Under its ambitious ruler Mohammed bin Salman's Vision 2030 project, Saudi Arabia is seeking to diversify its economy away from fossil fuels and become a global hub for technology and innovation. The Saudi sovereign wealth fund, the Public Investment Fund, is providing funding for cornerstone "gigaprojects" estimated to cost tens of billions of dollars apiece. He said Saudi Arabia may need to raise another $270 billion for the Public Investment Fund by 2030.

Persons: —, Mohammed bin Salman's, Tim Callen, Brent, Karen Young Organizations: Street Journal, Saudi, Service, Public Investment Fund, Aramco, Gulf States Institute, Bloomberg, Monetary Fund, US Energy Information Administration, Middle East Institute Locations: Saudi Arabia, Saudi, Washington, Diryah

☆ India’s Modi to inaugurate Abu Dhabi’s first Hindu temple
▼ + stars: | 2024-02-14 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

CNN —India’s Prime Minister Narendra Modi is in the United Arab Emirates to inaugurate a Hindu stone temple, boosting his credentials as a global statesman months before he heads to the polls in a nationwide election where he is seeking a rare third term in power. Indian Prime Minister Narendra Modi with President of the United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan in Ahmedabad state of Gujarat, India on January 9, 2024. Yet, analysts expect this will not present an issue for Modi during his visit, given India’s rising prominence, its growing economy and strategic position on the global stage. In 2015, the UAE government allocated land for the development of the temple, in a major win for the diaspora. President Joe Biden visits Raj Ghat memorial with Prime Minister of India Narendra Modi and other G20 leaders, Sept. 10, 2023, in New Delhi.

Persons: CNN —, Narendra Modi, Modi, Sheikh Mohamed bin Zayed Al Nahyan, United Arab Emirates Sheikh Mohamed bin Zayed Al, ”, Asim Ali, ” Ali, “, Ram, Nicolas Blarel, Blarel, Swaminarayan, ” Blarel, Kadira Pethiyagoda, that’s, Joe Biden, Raj, India Narendra Modi, Kenny Hoston, Mukesh Ambani, Gautam Adani, Powers, ” Pethiyagoda Organizations: CNN, CNN — India’s, United, United Arab Emirates, Emirates, Guard, Indian, PIB, Getty, Bharatiya Janata, International Relations, Institute of Political Science, Leiden University, BJP, Brookings, Reuters Locations: United Arab, Abu, United Arab Emirates, United Arab Emirates Sheikh Mohamed bin Zayed Al Nahyan, Ahmedabad, Gujarat, India, Anadolu, UAE, New Delhi, Abu Dhabi, The Netherlands, South Asia, Indian, “ India, Saudi Arabia, East, Europe, “, China, Russia, Ayodhya, India’s

☆ Opinion: What Iran wants — and fears
▼ + stars: | 2024-02-13 | by ( Opinion Hussein Ibish | ) edition.cnn.com time to read: +7 min

Iran has backed Hezbollah’s efforts to avoid an all-out war with Israel despite consistent Israeli escalation and threats. Hezbollah doesn’t want a war with Israel and Iran agrees. The potential for such US or Israeli airstrikes is among the most significant reasons Iran wants to avoid a broader conflict. Tehran has already restrained its Iraqi proxies, is working to help Hezbollah climb down and avoid a devastating Israeli attack. And Iran is probably urging the Houthis to take great care not to kill Americans or otherwise go too far.

Persons: Hussein Ibish, Read, Hussein Ibish It’s, Biden, Israel, Kataib, Saleh Al, Wissam, Amos Hochstein, Ebrahim Raisi, Shannon Stapleton, It’s Organizations: Gulf States Institute, Israel, CNN, Washington, Radwan Force, Iranian Locations: Washington, Iranian, Iran, Iraq, Syria, Lebanon, Gaza, Yemen, United States, Saudi Arabia, Russia, China, Saudi, That’s, Israel, Jordan, Hezbollah’s, Beirut, Tehran, Yemeni, Suez, Strait, Hormuz, Bab, Mandab

☆ Opinion: UNWRA’s day of reckoning is near
▼ + stars: | 2024-02-02 | by ( Opinion Michael Bociurkiw | ) edition.cnn.com time to read: +8 min

Editor’s Note: Michael Bociurkiw (@WorldAffairsPro) is a global affairs analyst and former UNICEF spokesperson for Gaza and the West Bank. But UNRWA funding differs from other UN agencies such as UNICEF, in that it’s mostly dependent on government funding. And that’s why countries pulling funding — as they have done this past week — is such a potentially fatal blow to its operations. Tiny Jordan already hosts at least 2 million Palestinians, including many from Gaza who arrived decades ago. Note: This op-ed has been updated to reflect the latest number of UNRWA employees Israel alleges were associated with Hamas’ October 7 attack.

Persons: Michael Bociurkiw, Read, Michael Bociurkiw Chrystia Chudczak, Khan Younis, Mohammed Talatene, Israel —, there’s, Abed Zagout, Tiny Jordan, Ashraf Amra Organizations: UNICEF, West Bank, CNN, United Nations, UNICEF —, Toyota, Cruisers, United Nations Relief, Works Agency for Palestine Refugees, Israel Defense Forces, UNRWA, West, UN, Assembly, Palestinian Authority, UN Refugee Agency, UNHCR, Getty, World Health Organization Locations: Gaza, East, Children’s, West Bank, Jordan, Lebanon, Syria, Israel, Philadelphia, City, Canada, Germany, Rafa, Anadolu, Egypt, Qatar, Deir al Balah

☆ Italy's Meloni Opens Africa Summit, Promises New Partnership
▼ + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The summit, being held in Italy's ornate Senate, will last all day, with Italian ministers due to outline an array of initiatives, from energy and infrastructure to health and education, that Meloni says will be mutually beneficial. "We believe it is possible to envision and write a new chapter in the history of our relationship, a cooperation among equals, far from any predatory imposition or charitable stance towards Africa," Meloni said in an opening speech. Eni, Italy's largest importer of natural gas, has already countered lower Russian supplies by shipping increased volumes from Africa, where it has had a presence for decades. The company has said Algeria, Egypt and Libya will be Italy's main gas suppliers for the next few years. Most had departed from North African countries such as Tunisia and Libya, many fleeing poverty and conflict in sub-Saharan Africa and the Middle East.

Persons: Crispian Balmer, Angelo Amante ROME, Giorgia Meloni, Meloni, Enrico Mattei, Ursula von der Leyen, Charles Michel, Mattei, Alex Richardson Organizations: Italian, Eni, European Union, European, Energy, EU Locations: Rome, Africa, Italy, China, Russia, Gulf, Tunisia, Senegal, Kenya, Republic of Congo, Somalia, Ukraine, Algeria, Egypt, Libya, Europe, North, Saharan Africa

Search resuls for: "Gulf States"

25 mentions found