Author: Newsdesk

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-Top News Arab News

Israel says it won’t oppose selling ‘certain’ weapons to the UAE

Israeli Defence Minister Benny Gantz

Israel will not oppose the sale of “certain weapon systems” to the United Arab Emirates (UAE) in light of a promise by the US to upgrade Israel’s military edge in the Middle East, a joint statement from Prime Minister Benjamin Netanyahu and Defence Minister Benny Gantz said.

The “certain weapon systems” is an apparent reference to the advanced F-35 stealth fighter jets, Xinhua news agency reported citing Israeli media reports as saying.

The joint statement was published upon Gantz’s return from US where he met with US Secretary of Defence Mark Esper and signed a deal “to secure Israel’s Qualitative Military Edge”.

The understandings reached by Gantz and Esper “will allow the procurement of advanced weapon systems that will significantly upgrade Israel’s military capabilities, maintain its security and its military advantage in the region as well as its qualitative military edge in the coming decades”, said the statement.

It added that Israel was notified by US administration of its plans to notify Congress of its intention to provide certain weapon systems to the UAE.

Netanyahu and Gantz both agree that since US is upgrading Israel’s military capability and is maintaining the military edge, the country will not oppose the sale of these systems to the UAE, said the statement.

Netanyahu made a statement saying Israel opposes any sale of F-35 war jets to the UAE on August 18 after Yediot Aharonot, one of Israel’s largest daily newspapers, reported that the White House plans a “giant” deal to sell F-35 war jets to the UAE.

The UAE signed normalization deal with Israel at the White House on September 15.

It is the first Arab nation in 26 years to establish formal ties with Israel, after Egypt in 1979 and Jordan in 1994.

Also Read: Sudan, Israel normalise ties, third such accord since August

Also Read: UAE, US, Israel set up ‘Abraham Fund’

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Dubai Sport UAE News

Dubai hosts first post lockdown marathon race

Runners taking part in the Mai Dubai City Half Maarathon

The first mass running event since the start of the COVID-19 pandemic took place on friday in the heart of the Dubai International Financial Centre (DIFC) – the destination where business and lifestyle meets.

Over 400 runners took part in either the half marathon (21km), 10km or the 5km races – the event included a range of innovative measures from contactless temperature checking, no touch sanitization and water distribution and staggered start times to ensure the safety of all participants. 

The organisers of the event co ordinated with relevant partners and Government bodies including the Dubai Sports Council and the Supreme Committee on months of planning to ensure that the first mass running event this season met all the strict safety measures.

Steven Matthijs of Promoseven Sports Marketing said: “We’re delighted with the outcome of this mornings’ event and we’d like to thank the Dubai Sports Council, the RTA, the Dubai Police and our title partner, Mai Dubai for working so closely with us during the difficult climate we are all facing – without them, this event would not have been possible.”

Alexander van ‘t Riet, CEO of Mai Dubai, said: “The marathon was a success in many ways and the participation it witnessed is a reflection of the rising awareness on the importance of physical activity and of course, hydration.”

Endorsed by the Dubai Sports Council, the race route started and finished in front of The Gate Building and looped around the picturesque Dubai International Financial Centre, providing runners with breathtaking views of the city’s well-known architectural marvels.

Also Read: Dubai’s palm fountain secures Guinness World Record

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Cricket Sport

Cricketing world wishes Kapil a speedy recovery

Former Indian cricketer Kapil Dev. (File Photo: IANS)

The cricket fraternity on Friday took to social media to wish speedy recovery to 1983 World Cup-winning Indian captain Kapil Dev who has undergone an angioplasty.

“Please join me in sending prayers, strength and good wishes to Kapil and Romi Dev for his speedy recovery. Kapil was taken to the hospital in time as he complained of uneasiness. As per the doctors the procedure has been successful and he will be home soon,” tweeted Kapil’s former India teammate Madan Lal.

Sachin Tendulkar said: “Take care Kapil Dev! Praying for your quick recovery. Get well soon Paaji.”

“Praying for your speedy recovery. Get well soon paaji,” said Virat Kohli.

“Wishing great Kapil Dev a speedy recovery post his angioplasty, you have been a fighter always Paaji and you will come out of this fighting fit,” said Mohammad Kaif.

“Our thoughts and prayers are with the greatest champion cricketer of our times…Guru MEHR Karehga..!Love Always Kapil…!” tweeted Bishan Singh Bedi.

“Get well soon Kapil Paaji. Wishing you a speedy recovery,” said VVS Laxman.

“Get well soon paji,” tweeted Harbhajan Singh.

“Dear paji! Praying for your speedy recovery! Get well soon please after cricket I still need some golfing lessons,” said Yuvraj Singh on the micro-blogging website.

“Wishing the big-hearted, mighty Kapil Dev a speedy recovery. So much more to do,” said Harsha Bhogle.

Kapil, 61, was operated upon on Thursday night at the Fortis-Escorts Hospital located in south Delhi.

Also Read: Kapil Dev undergoes angioplasty, now stable

Categories
Business Tech Lite

Huawei revenues grow by 9.9%

Huawei. (File Photo: IANS)

Huawei on Friday said that it generated a revenue of 671.3 billion yuan ($98.57 billion) in the first three quarters of this year, an increase of 9.9 per cent over the same period last year.

The results showed that restrictions imposed by the US slowed down growth of the Chinese technology giant as duriing the same period last year, the company reported revenue growth of 24.4 per cent, CNBC reported.

For the September quarter, Huawei reported revenue of 217.3 billion yuan ($31.91 billion), an increase of just 3.7 per cent over the the same period last year, said the report.

During the first three quarters of 2020, the company’s net profit margin was 8 per cent, Huawei said, adding that its business results during the period met expectations.

Huawei said that amid COVID-19, its global supply chain faced intense pressure and its production and operations face significant challenges.

Huawei (File Photo)

“The company continues to do its best to find solutions, survive and forge forward, and fulfill its obligations to customers and suppliers,” Huawei said in a statement.

“Moving forward, Huawei will leverage its strengths in ICT technologies such as AI, cloud, 5G, and computing to provide scenario-based solutions, develop industry applications, and unleash the value of 5G networks along with its partners,” it added.

Huawei said that open collaboration and mutual trust across the global industry is required for rapid and healthy development within the ICT industry.

The company said that it will continue working closely with its global partners and using its innovative ICT technologies to create greater value for customers despite the complex situation it is currently facing.

Also Read: Xiaomi leads as India’s smartphone shipments hit record high

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-Top News Africa News

Libya’s warring sides reach ceasefire agreement: UN

The United Nations said Friday that the two sides in Libyan military talks had reached a “historic achievement” with a permanent cease-fire agreement across the war-torn North African country, reports Arab News.

After mediation this week led by UN envoy for Libya Stephanie Turco Williams, the 5+5 Joint Military Commission reached what the UN called an “important turning point toward peace and stability in Libya.”

“I wish to congratulate you on what you have accomplished here. It needed much courage,” Williams told military envoys representing Prime Minister Fayez al-Serraj and military strongman Khalifa Haftar.

“I hope that this agreement will put an end to the suffering of the Libyan people,” she added.

The truce deal was reached ahead of Libyan political talks that start in a preparatory phase next week. In-person meetings are set to start in Tunis on November 9, said dpa international.

Also Read: Militarisation threatens 125,000 Libyans: UN

Categories
Dubai UAE News

Dubai’s palm fountain secures Guinness World Record

Normal 0 false false false EN-IN X-NONE X-NONE The Palm Fountain at The Pointe, Dubai’s premier lifestyle and dining destination by Nakheel, has secured the Guinness World Record for the World’s Largest Fountain after a breathtaking launch streamed live across the world. The magical show was attended by distinguished guests, residents and tourists, who watched in awe as The Palm Fountain broke the record in tune to an exclusive song – Dubai is another planet, produced to reflect the city’s vibrant and inspirational spirit. A celebration of Dubai’s creativity and ambition, The Palm Fountain is spread over 14,000 sq ft of sea water and is the only multi-coloured fountain in the city. Its super shooter stands tall at 105 metres and comes alive with over 3,000 LED lights. Omar Khoory, Managing Director of Nakheel Malls, which operates The Pointe, said: “Nakheel extends its gratitude to Dubai’s leadership as we secure the coveted title of World’s Largest Fountain. This is an historic moment which further underscores our commitment to bringing new and unique experiences to the city for the benefit of all stakeholders. As pioneers of retail and lifestyle destinations in Dubai, we look forward to the inspiration it will bring to visitors at The Pointe, residents of the UAE, our retailers, tourists and the international community.” The Palm Fountain launch, during which strict health and safety protocols were observed, included an array of live entertainment including a magical firework display. Two of the Middle East’s much loved and award-winning Disney songs – Let It Go from Frozen and A Whole New World from Aladdin – were also played for the momentous occasion, and are part of the fountain’s regular programming. The fountain is open to the public year-round from sunset to midnight, delighting visitors with over 20 bespoke shows with five different variations swaying to an array of popular songs including Khaleeji, pop, classic and international. Shows last for three minutes and are performed every 30 minutes. To commemorate its launch, The Pointe has also unveiled an Instagram-able water swing open daily from 1 pm to 10 pm until 29 October.

Ahmed Al Khaja, CEO of Dubai Festivals and Retail Establishment, DFRE, said: “The launch of The Palm Fountain marks yet another exciting milestone as Dubai continues to welcome visitors to its world-famous landmarks. Securing another Guinness World Records title for Dubai further solidifies the city’s status as a must-visit destination where guests from around the world can experience the best sights and sounds as well as unrivalled retail and tourist spaces. The Pointe’s standing as one of Dubai’s premier dining and leisure destinations has been further elevated with the unveiling of this record-breaking new attraction and we look forward to welcoming the many new tourists who will visit.”

Also Read: Dubai’s non oil external trade hits AED551 bn in H12020 Also Read: Dubai to host opening leg of HERO World Series 2021
Categories
Economy UAE News

Foreign currency deposits in UAE national banks grow 7.3%

Central Bank of the UAE, CBUAE

The total foreign currency deposits held by the UAE national banks amounted to around AED409 bn by August, a growth of 7.3 percent, according to the statistics of the Central Bank of the United Arab Emirates.

These account for 30 percent of the total deposits held by the Emirati banks, valued at AED1.346 trillion by the end of August. They grew to AED366.8 bn in Q2 from AED381 bn in December 2019, before rising to around AED395 bn in July.

The foreign deposits held by all national banks in the UAE comprise around 40 percent of deposits of all terms; account for 12.6 percent of saving deposits and 24.3 percent of demand deposits.

They represent around 81.3 percent of total foreign deposits held by all banks operating in the UAE, according to the statistics.

Also Read: UAE, US, Israel set up ‘Abraham Fund’

Also Read: Dubai’s non oil external trade hits AED551 bn in H12020

Categories
Cricket Sport

Kapil Dev undergoes angioplasty, now stable

Kapil Dev

India’s first World Cup-winning cricket captain Kapil Dev has undergone a successful angioplasty at a south Delhi hospital, a senior doctor confirmed on Friday.

The 61-year-old was operated upon on Thursday night, the Fortis-Escorts Hospital doctor said.

“He came to the hospital last night (Thursday) with an acute problem. His angioplasty has been done, and he is stable now. The angioplasty was done under local anaesthesia. Normal patients are kept in hospitals for 48 to 72 hours, before being discharged,” a senior doctor who did not want to be identified told IANS.

Angioplasty is a procedure to restore blood flow through the artery.

The doctor also said that the legendary cricketer also has a long-standing sugar problem.

“In diabetic patients, the blood vessels have more calcium deposits. So, that is an issue that could happen to patients undergoing angioplasty. But he is stable,” he said.

At one time, the legendary pacer held the world Test record for most wickets (434) and retired from the game in 1994. He held the record for over six years, until it was broken by West Indies great Courtney Walsh.

The biggest achievement of Kapil is he lead India to the Wold Cup triumph in 1983, when India was considered minnows in limited overs cricket.

Kapil played 131 Tests and 225 One-day Internationals between 1978 and 1994.

Categories
Business

Flipkart’s investment pushes ABFRL’s stocks up

Shares of Aditya Birla Fashion and Retail surged over 14 per cent on Friday afternoon after the company announced that Flipkart Investments Pvt Ltd will invest Rs 1,500 crore to pick up a stake of 7.8 per cent in the former.

Around 1.10 pm, shares of Aditya Birla Fashion were trading at Rs 175.70 on the BSE, higher by Rs 22.30 or 14.54 per cent from its previous close.

The equity capital will be raised at Rs 205 per share. The promoter and promoter group companies of ABFRL will hold about 55.13 per cent upon completion of the issuance.

ABFRL will use this capital to strengthen its balance sheet and propel its growth ambition with renewed vigour, said a statement.

The company plans to scale up its play in emerging high-growth fashion categories, including innerwear, athleisure, casual and ethnic wear, establishing these as the new engines of growth for the company.

Furthermore, ABFRL will accelerate the execution of its large-scale digital transformation strategy that will deepen its consumer connect and augment its backend capabilities, positioning it amongst the most comprehensive omni-channel fashion players in the country.

Also Read: Indian e-com to garner $6.5bn in festive sales: Report

Categories
Business

LG Display swings back to profit after two years

Major display panel maker LG Display Co has swung to the black in the third quarter of the year on the back of robust demand for displays used in IT gadgets and increased shipments of large-size panels for TVs amid the pandemic-driven stay-at-home trend.

The company chalked up a net profit of $9.8 million in the July-September period, shifting from a loss of 442.2 billion won a year earlier.

It also logged an operating profit of 164.4 billion won in the third quarter, swinging from an operating loss of 436.7 billion won a year ago. Sales rose 15.7 percent to 6.73 trillion won over the cited period.

This is the first time since the fourth quarter of 2018 that the company posted an operating profit.

LG Display attributed the turnaround to increased supply of displays for IT products and plastic OLED panels for mobile devices, reports Yonhap news agency.

Panels for IT products accounted for 43 percent of its revenue in the third quarter. TV panels accounted for 28 percent of its revenue, while mobile display products made up 29 percent of its sales.

LG Display said it plans to double the shipment of large-size OLED panels in the second half of the year compared to the first half as operation of its Guangzhou plant is in full swing.

The company aims to supply more than 7 million units of large-size OLED display panels next year.

To cope with rising demand for panels for IT products, driven by the work-from-home trend and remote learning, the company said it will convert more of its LCD TV panel production lines to IT display manufacturing lines.

LG Display said it expects the strong demand for IT panels to continue through the first half of 2021.

Also Read: COVID-19: LG partly shuts Seoul HQ