by Jacob Weisberg. The scathing portrait of American elites’ accommodations to US President Donald Trump has a title styled after John F. Kennedy’s , but it’s a portrait of the opportunism of leaders focused on their own interests at the expense of civic life. Weisberg includes familiar stories like that ...
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UAE investigates Egyptian bank targeted by US sanctionsUAE investigates Egyptian bank targeted by US sanctions
The Central Bank of the UAE launched an investigation into the local branches of Egypt’s Banque Misr after the US Treasury said it would bar the lender’s UAE operations from dollar transactions over its dealings with Iran. The probe follows the US announcement last week of a fresh sanctions campaign ...
Iran war widens split in Gulf stock marketsIran war widens split in Gulf stock markets
The Iran war is widening the divide between Gulf stock markets. Dubai and Qatar have fallen as they remain more exposed to the closure of the Strait of Hormuz, while Saudi Arabia and Oman have performed positively. Qatar’s problems predate the war due to the post-2022 men’s soccer World Cup ...
UAE’s Sheikh Tahnoon backs domestic and US stablecoinsUAE’s Sheikh Tahnoon backs domestic and US stablecoins
Sheikh Tahnoon bin Zayed reportedly has interests in two stablecoin initiatives, one in the US and one at home in the UAE. The deputy ruler of Abu Dhabi and UAE national security adviser is a major shareholder in the holding company of a new US bank linked to World Liberty ...
Chinese manufacturing activity falls for second consecutive monthChinese manufacturing activity falls for second consecutive month
China’s factory activity shrunk for a second consecutive month, further compounding the challenges for the world’s second-biggest economy. Beijing’s export-oriented industries have helped buoy the country’s economy for years as domestic consumption — weighed down by a countrywide real estate crisis and rising youth unemployment — continues to falter. However, ...
US and Iran exchange fire for the first time in over a monthUS and Iran exchange fire for the first time in over a month
The US and Iran traded fire for the first time in over a month, with Washington hitting two rocket launchers and Tehran retaliating by firing missiles at Jordan. The US said the launchers were about to deploy mines into the Strait of Hormuz. Brent crude rose 3% to $91 a ...
Saudi Arabia’s LIV Golf tournament faces bankruptcySaudi Arabia’s LIV Golf tournament faces bankruptcy
LIV Golf, the Saudi-backed challenger to the US PGA Tour, could file for bankruptcy within days, the Financial Times reported, as the kingdom shifts position on several high-profile projects. The Saudi Public Investment Fund founded LIV in 2022, attracting several top players with high wages, but said this year it ...
Nigeria’s worsening insecurity tests president’s second-term bidNigeria’s worsening insecurity tests president’s second-term bid
The News The mass abduction of hundreds of people from mosques in northern Nigeria this month was at once shocking and yet unsurprising: The targeting of civilians by insurgents and bandits has surged compared to last year, and the three months through June were the most violent in at least ...
Africa turns to Asia for diesel as Iran war disrupts suppliesAfrica turns to Asia for diesel as Iran war disrupts supplies
Asian diesel exports to Africa have soared to a multi-year high as the war in the Middle East continues to roil global energy markets. Before the start of hostilities, Africa relied on the Gulf for a large share of the fuel it consumes, importing roughly $90 billion’s worth a year. ...
Axel Springer invests in Abu Dhabi-based outlet The CircuitAxel Springer invests in Abu Dhabi-based outlet The Circuit
Axel Springer is expanding in the Middle East, joining a growing number of Western publishers with an editorial presence in the region — and testing a key pillar of its editorial beliefs. Last week, the German news media giant announced that it is investing in The Circuit, an Abu Dhabi-based ...