Gina Rinehart
Australian mining billionaire Gina Rinehart plans to sell a portfolio of seven cattle farms in Australia, looking to cash in on her investment in the properties amid strong global beef demand.
Hancock Agriculture, a unit of Ms Rinehart’s broader Hancock Prospecting empire, and joint venture partner S Kidman & Co are marketing the portfolio through rural property specialist Elders and expect strong demand from domestic and international investors.
“This represents a rare opportunity to acquire a strategically constructed portfolio of assets at scale during a period of unprecedented growth in demand for quality Australian protein,” said Tom Russo, general manager of Elders' property division.
Market conditions are favourable for the sale: Australian cattle prices have surged to record highs as demand returns amid signs the global economy is recovering from the Covid-19 pandemic.
However, the country faces a chronic supply shortage, with herd sizes near their lowest since the early 1990s.
The portfolio covers nearly 1.9 million hectares of land across Western Australia and the Northern Territory, with the size of the cattle herd currently numbering about 108,500, Hancock Agriculture said.
The company, which is Australia’s second-biggest beef producer, had undertaken extensive capital works to improve the properties and is now looking “to complete its investment cycle and focus on other areas of growth in its agricultural operations”.
Elders will begin marketing the portfolio in March, with offers for all or part of the portfolio for consideration.
Zhong Shanshan
Until recently, few people had heard of Zhong Shanshan, a reclusive billionaire who built a fortune on China's seemingly unquenchable demand for his ubiquitous red-capped bottled water product.
Mr Zhong has become Asia’s richest man after last year's separate listings of mineral water supplier Nongfu Spring and diagnostics company Wantai Biological Pharmacy Enterprise, which tapped into massive demand for Covid-19 test kits.
Mr Zhong's net worth has surged to $85bn and made him the seventh-richest person on the planet, Hurun Report, a China-based compiler of "rich lists", said.
Described as a "lone wolf" by Chinese media for his rare public appearances and aversion to interviews, Mr Zhong has achieved one of the fastest accumulations of wealth in history, according to Bloomberg.
He became the first Chinese entrepreneur to enter Hurun's list of the world's 10 richest people this year, leaping out of nowhere to rank close behind Facebook's Mark Zuckerberg and American investor Warren Buffett.
Not bad for someone who dropped out of school at the age of 12 during the political upheaval of China’s Cultural Revolution between 1966 and 1976. Mr Zhong worked as a bricklayer, carpenter and news reporter during his early years, according to Chinese media.
He founded Nongfu Spring in 1996 and still owns an 84 per cent stake in the company which, according to market research company Mintel, controls more than a quarter of the bottled water market in China, where many people avoid tap water over health concerns.
Bitcoin may still go to zero. But it can also become the core of a new monetary architecture
In contrast to charismatic Alibaba founder Jack Ma – who Mr Zhong dethroned as China's richest man – little is known about Nongfu's billionaire boss aside from his gruff character.
"I don't have the habit of flattery in my personality," he once told Chinese media in a rare interview.
His fortunes have risen while those of Chinese technology companies have slid.
Mr Ma is now worth $55bn, according to Hurun, after government regulators launched an anti-monopoly investigation into his technology empire, a development that pummelled Alibaba’s share price and left a massive initial public offering by financial arm Ant Group in limbo.
Alongside Nongfu, which listed last year in Hong Kong, Mr Zhong is also the biggest shareholder in Wantai, which went public in Shanghai.
The group’s rapid Covid-19 test gives results in 75 minutes. According to its website, the company has shipped more than 10 million kits.
Wantai and a prominent university are also developing a Covid-19 vaccine nasal spray.
The company is the biopharmaceutical arm of the Yangshengtang Group, a medical company Mr Zhong founded three years before Nongfu.
Yangshengtang specialises in infectious diseases and says it is the largest producer in Asia of an HIV diagnostic reagent.
Hurun says the share listings make Mr Zhong one of only a handful of entrepreneurs in the world today that have founded more than one $10bn business.
Kjell Inge Rokke
Norwegian oil billionaire Kjell Inge Rokke has come out strongly in favour of Bitcoin as he wagers that the cryptocurrency will prove to be the best defence against the disruption facing the finance industry and central banks.
Mr Rokke’s Aker, which controls oil and oil service companies, has more recently branched out into green technology and renewable energy companies. It is setting up a new business, Seetee, to tap into the potential of Bitcoin.
“Bitcoin may still go to zero. But it can also become the core of a new monetary architecture,” Mr Rokke, Norway’s second-richest person with an estimated $5.4bn net worth, said in a shareholder letter. He says it is not inconceivable that one Bitcoin could one day “be worth millions of dollars”.
“People who know the most about Bitcoin believe its future success is nearly inevitable,” said Mr Rokke.
Bitcoin has continued to divide opinion after a volatile start to the year. A single coin cost more than $57,000 at one point last month, up from $8,000 about a year ago.
The cryptocurrency has won some notable endorsements of late, including from Elon Musk. It has also been associated with some nail-biting investing moments.
Despite the volatility, there is growing evidence that Bitcoin is being embraced by some of the most influential members of the global financial industry.
Cathie Wood’s ARK Investment Management said Bitcoin could be part of a normal portfolio while Goldman Sachs is currently working to bring back its cryptocurrency trading desk as it responds to substantial demand for digital assets from institutions.
The situation differs from the 2017 Bitcoin bubble owing to “huge” institutional demand across different industry types and from private banking clients, according to Matt McDermott, head of digital assets in Goldman Sachs' Global Markets Division.
For now, Mr Rokke’s investment will be small, with Seetee set to with just 500 million kroner ($58m) in capital. The company plans to keep all its liquid investable assets in the cryptocurrency.
Aker’s Seetee plans to invest in the digital asset, establish partnerships with leading players in the Bitcoin and broader blockchain community, launch the cryptocurrency's verification operations and invest in innovative projects and companies.
The Norwegian industrial company, whose roots date back 160 years, has been an active investor in industrial software, FinTech and green energy value chains.
Its latest cryptocurrency venture is intended to help it pursue developments in cyber security, financial transactions and emissions-free verification operations, it said.
“The direction is clear: finance will be disrupted as surely as fossil fuels will be,” says Mr Rokke. “The question is not if, but when.”
Carl Icahn
Activist investor Carl Icahn is in discussions with FirstEnergy about potentially taking two seats on the board of the utility.
The billionaire investor has built a sizeable stake in FirstEnergy and is focused on helping the company put a federal corruption scandal and other issues behind it to narrow the valuation gap between it and peer organisations.
He is not seeking control of the board, in part, because the utility sector is so heavily regulated when it comes to changes of control. However, talks are ongoing between the parties.
Mr Icahn has a history of helping companies navigate through challenging times, including famously defending Herbalife Nutrition against fellow activist investor Bill Ackman, who was shorting its shares.
A representative of Mr Icahn declined to comment while a representative for FirstEnergy was not immediately available for comment.
In February, Mr Icahn notified FirstEnergy that he intended to acquire a stake valued between $184m and $920m. FirstEnergy at the time said it did not know whether the billionaire investor had already acquired any shares or derivatives, or what his intentions were. It is unclear what the size of Mr Icahn’s stake is now.
FirstEnergy has been embroiled in a federal corruption case since last summer. It involves the arrest of former Ohio House Speaker Larry Householder and four political associates accused of receiving about $61m in bribes to secure a bailout for nuclear plants owned by a former FirstEnergy unit.
There is now meaningful room for FirstEnergy’s shares to be re-rated after trading at a substantial discount to its peers – even before its legal issues arose in mid-2020 – and with a visible path to resolve the issues in Ohio, says Julien Dumoulin-Smith, an analyst with Bank of America.
Mr Dumoulin-Smith wrote in a note to clients that Mr Icahn’s increasing involvement in FirstEnergy was a key angle to watch. He revised his price target from $32 a share to $37 and raised his rating from "neutral" to "buy".
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What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
Our legal columnist
Name: Yousef Al Bahar
Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994
Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers
A meeting of young minds
The 3,494 entries for the 2019 Sharjah Children Biennial come from:
435 – UAE
2,000 – China
808 – United Kingdom
165 – Argentina
38 – Lebanon
16 – Saudi Arabia
16 – Bangladesh
6 – Ireland
3 – Egypt
3 – France
2 – Sudan
1 – Kuwait
1 – Australia
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
Countdown to Zero exhibition will show how disease can be beaten
Countdown to Zero: Defeating Disease, an international multimedia exhibition created by the American Museum of National History in collaboration with The Carter Center, will open in Abu Dhabi a month before Reaching the Last Mile.
Opening on October 15 and running until November 15, the free exhibition opens at The Galleria mall on Al Maryah Island, and has already been seen at the Jimmy Carter Presidential Library and Museum in Atlanta, the American Museum of Natural History in New York, and the London School of Hygiene and Tropical Medicine.
Another way to earn air miles
In addition to the Emirates and Etihad programmes, there is the Air Miles Middle East card, which offers members the ability to choose any airline, has no black-out dates and no restrictions on seat availability. Air Miles is linked up to HSBC credit cards and can also be earned through retail partners such as Spinneys, Sharaf DG and The Toy Store.
An Emirates Dubai-London round-trip ticket costs 180,000 miles on the Air Miles website. But customers earn these ‘miles’ at a much faster rate than airline miles. Adidas offers two air miles per Dh1 spent. Air Miles has partnerships with websites as well, so booking.com and agoda.com offer three miles per Dh1 spent.
“If you use your HSBC credit card when shopping at our partners, you are able to earn Air Miles twice which will mean you can get that flight reward faster and for less spend,” says Paul Lacey, the managing director for Europe, Middle East and India for Aimia, which owns and operates Air Miles Middle East.
Jewel of the Expo 2020
252 projectors installed on Al Wasl dome
13.6km of steel used in the structure that makes it equal in length to 16 Burj Khalifas
550 tonnes of moulded steel were raised last year to cap the dome
724,000 cubic metres is the space it encloses
Stands taller than the leaning tower of Pisa
Steel trellis dome is one of the largest single structures on site
The size of 16 tennis courts and weighs as much as 500 elephants
Al Wasl means connection in Arabic
World’s largest 360-degree projection surface
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
Three tips from La Perle's performers
1 The kind of water athletes drink is important. Gwilym Hooson, a 28-year-old British performer who is currently recovering from knee surgery, found that out when the company was still in Studio City, training for 12 hours a day. “The physio team was like: ‘Why is everyone getting cramps?’ And then they realised we had to add salt and sugar to the water,” he says.
2 A little chocolate is a good thing. “It’s emergency energy,” says Craig Paul Smith, La Perle’s head coach and former Cirque du Soleil performer, gesturing to an almost-empty open box of mini chocolate bars on his desk backstage.
3 Take chances, says Young, who has worked all over the world, including most recently at Dragone’s show in China. “Every time we go out of our comfort zone, we learn a lot about ourselves,” she says.
Company%20profile
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Points tally
1. Australia 52; 2. New Zealand 44; 3. South Africa 36; 4. Sri Lanka 35; 5. UAE 27; 6. India 27; 7. England 26; 8. Singapore 8; 9. Malaysia 3
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Killing of Qassem Suleimani
Killing of Qassem Suleimani
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Results:
6.30pm: Mazrat Al Ruwayah (PA) | Group 2 | US$55,000 (Dirt) | 1,600 metres
Winner: AF Al Sajanjle, Tadhg O’Shea (jockey), Ernst Oertel (trainer)
7.05pm: Meydan Sprint (TB) | Group 2 | $250,000 (Turf) | 1,000m
Winner: Blue Point, William Buick, Charlie Appleby
7.40pm: Firebreak Stakes | Group 3 | $200,000 (D) | 1,600m
Winner: Muntazah, Jim Crowley, Doug Watson
8.15pm: Meydan Trophy Conditions (TB) | $100,000 (T) | 1,900m
Winner: Art Du Val, William Buick, Charlie Appleby
8.50pm: Balanchine Group 2 (TB) | $250,000 (T) | 1,800m
Winner: Poetic Charm, William Buick, Charlie Appleby
9.25pm: Handicap (TB) | $135,000 (D) | 1,200m
Winner: Lava Spin, Richard Mullen, Satish Seemar
10pm: Handicap (TB) | $175,000 (T) | 2,410m
Winner: Mountain Hunter, Christophe Soumillon, Saeed bin Suroor
What's in the deal?
Agreement aims to boost trade by £25.5bn a year in the long run, compared with a total of £42.6bn in 2024
India will slash levies on medical devices, machinery, cosmetics, soft drinks and lamb.
India will also cut automotive tariffs to 10% under a quota from over 100% currently.
Indian employees in the UK will receive three years exemption from social security payments
India expects 99% of exports to benefit from zero duty, raising opportunities for textiles, marine products, footwear and jewellery
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
5 of the most-popular Airbnb locations in Dubai
Bobby Grudziecki, chief operating officer of Frank Porter, identifies the five most popular areas in Dubai for those looking to make the most out of their properties and the rates owners can secure:
• Dubai Marina
The Marina and Jumeirah Beach Residence are popular locations, says Mr Grudziecki, due to their closeness to the beach, restaurants and hotels.
Frank Porter’s average Airbnb rent:
One bedroom: Dh482 to Dh739
Two bedroom: Dh627 to Dh960
Three bedroom: Dh721 to Dh1,104
• Downtown
Within walking distance of the Dubai Mall, Burj Khalifa and the famous fountains, this location combines business and leisure. “Sure it’s for tourists,” says Mr Grudziecki. “Though Downtown [still caters to business people] because it’s close to Dubai International Financial Centre."
Frank Porter’s average Airbnb rent:
One bedroom: Dh497 to Dh772
Two bedroom: Dh646 to Dh1,003
Three bedroom: Dh743 to Dh1,154
• City Walk
The rising star of the Dubai property market, this area is lined with pristine sidewalks, boutiques and cafes and close to the new entertainment venue Coca Cola Arena. “Downtown and Marina are pretty much the same prices,” Mr Grudziecki says, “but City Walk is higher.”
Frank Porter’s average Airbnb rent:
One bedroom: Dh524 to Dh809
Two bedroom: Dh682 to Dh1,052
Three bedroom: Dh784 to Dh1,210
• Jumeirah Lake Towers
Dubai Marina’s little brother JLT resides on the other side of Sheikh Zayed road but is still close enough to beachside outlets and attractions. The big selling point for Airbnb renters, however, is that “it’s cheaper than Dubai Marina”, Mr Grudziecki says.
Frank Porter’s average Airbnb rent:
One bedroom: Dh422 to Dh629
Two bedroom: Dh549 to Dh818
Three bedroom: Dh631 to Dh941
• Palm Jumeirah
Palm Jumeirah's proximity to luxury resorts is attractive, especially for big families, says Mr Grudziecki, as Airbnb renters can secure competitive rates on one of the world’s most famous tourist destinations.
Frank Porter’s average Airbnb rent:
One bedroom: Dh503 to Dh770
Two bedroom: Dh654 to Dh1,002
Three bedroom: Dh752 to Dh1,152
The story of Edge
Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, established Edge in 2019.
It brought together 25 state-owned and independent companies specialising in weapons systems, cyber protection and electronic warfare.
Edge has an annual revenue of $5 billion and employs more than 12,000 people.
Some of the companies include Nimr, a maker of armoured vehicles, Caracal, which manufactures guns and ammunitions company, Lahab
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
ADCC AFC Women’s Champions League Group A fixtures
October 3: v Wuhan Jiangda Women’s FC
October 6: v Hyundai Steel Red Angels Women’s FC
October 9: v Sabah FA
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
The nine articles of the 50-Year Charter
1. Dubai silk road
2. A geo-economic map for Dubai
3. First virtual commercial city
4. A central education file for every citizen
5. A doctor to every citizen
6. Free economic and creative zones in universities
7. Self-sufficiency in Dubai homes
8. Co-operative companies in various sectors
9: Annual growth in philanthropy
Mohammed bin Zayed Majlis
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
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HAJJAN
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
