Live updates: Follow the latest on Israel-Iran conflict
The International Maritime Organisation has said there were no indications of any increased threat to shipping in the Arabian Gulf, despite Iranian calls for international measures to prevent escalation in the Strait of Hormuz.
Fears over a move to close the waterway after Israel’s targeting of Iran's nuclear infrastructure are rising.
Closure of the strait would disrupt global supply chains, as a fifth of global oil shipments pass through the channel that connects the Gulf to the Arabian Sea.
Speaking at the IMO’s annual safety meeting on Wednesday, secretary Arsenio Dominguez said no signs of closure or disruption had appeared yet. “We’re not at that stage,” he said, answering a question from The National.
Mr Dominguez urged shipping companies to carry out security assessments before attempting to cross the strait. “You need to carry out the security assessment and then make the decision whether it is appropriate and it is safe for the vessel to transit,” he said.
Seyed Ali Mousavi, Iranian representative to the IMO – and also ambassador to the UK – warned in the morning session that increasing danger for ships was becoming apparent, after accusing Israel of attacking an oil refinery and gas field on the coast of Asalouyeh.
“These actions directly endanger international maritime security and the global energy supply chain,” he said. "If the international community fails to take urgent and concrete measures to halt this unlawful aggression, the risk of escalation at sea becomes imminent."
The IMO's position is there no sign of a crisis point as yet. “There's no indication that ships [or] seafarers are being targeted or any expected disruption right now in the region when it comes to maritime trade,” Mr Dominguez said.
Mr Mousavi said the IMO was “mandated to protect” Iran from attacks on its port and maritime infrastructure and criticised Israel for attacks on Iranian oil tankers and ports he said had been taking place since 2019.
“These hybrid threats – combining physical and cyber aggression – represent a multifaceted assault on maritime safety, port security and the freedom of navigation, which this organisation is mandated to protect,” he said.
Iranian state TV told the world to brace itself for a major attack, reporting on Wednesday that "tonight, a great surprise will occur – one that the world will remember for centuries". Israel and India also made statements about the war in their addresses to the convention.
Mr Dominguez said addressing the conflict was not within the agency’s remit, but that it was equipped to act in the event of a “negative impact” on shipping, as it did during the Red Sea crisis, when the Iran-backed Yemeni militia the Houthis targeted commercial ships crossing the Red Sea and the Gulf of Aden in response to Israel’s war in Gaza, notably when it negotiated the release of the crew of the stricken MV Galaxy Leader last year.
“There's no room for IMO or specific role for IMO to come in at this stage. If things evolve, I will be the first one to start speaking to the countries,” he said.
“I demonstrated clearly, when the ships were targeted in the Red Sea, that's when I spent considerable amount of time in actually talking to the countries, bringing the parties together to address the negative impact that this situation was having on shipping, seafarers, the environment, ships and the economy."
Oman – a member state of the agency - served as an intermediary for the Houthis. “Oman was a country that helped me greatly,” Mr Dominguez said.
The Houthis entered a ceasefire agreement with the US in May after an aggressive military campaign.
The latest statements Mr Dominguez received from the group since the dea, which they also sent to UN Secretary General Antonio Guterres, featured “no indication of targeting ships”.
Mr Dominguez addressed the disruption to commercial cargoes in the Red Sea. “The way that trade starts to flow back into the Red Sea is not something that will happen overnight,” he said. “But we have seen an increase already on trade going through the Red Sea and the Suez.”
Squad
Ali Kasheif, Salim Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdulrahman, Mohammed Al Attas, Abdullah Ramadan, Zayed Al Ameri (Al Jazira), Mohammed Al Shamsi, Hamdan Al Kamali, Mohammed Barghash, Khalil Al Hammadi (Al Wahda), Khalid Essa, Mohammed Shaker, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Al Hassan Saleh, Majid Suroor (Sharjah) Walid Abbas, Ahmed Khalil (Shabab Al Ahli), Tariq Ahmed, Jasim Yaqoub (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Muharami (Baniyas)
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4-cylinder turbo hybrid
Transmission: eight-speed automatic
Power: 390bhp
Torque: 400Nm
Price: Dh340,000 ($92,579
Company%20profile
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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
The alternatives
• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.
• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.
• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.
• 2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.
• PayPal is probably the best-known online goods payment method - usually used for eBay purchases - but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.
CHATGPT%20ENTERPRISE%20FEATURES
%3Cp%3E%E2%80%A2%20Enterprise-grade%20security%20and%20privacy%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Unlimited%20higher-speed%20GPT-4%20access%20with%20no%20caps%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Longer%20context%20windows%20for%20processing%20longer%20inputs%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Advanced%20data%20analysis%20capabilities%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Customisation%20options%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Shareable%20chat%20templates%20that%20companies%20can%20use%20to%20collaborate%20and%20build%20common%20workflows%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Analytics%20dashboard%20for%20usage%20insights%3C%2Fp%3E%0A%3Cp%3E%E2%80%A2%20Free%20credits%20to%20use%20OpenAI%20APIs%20to%20extend%20OpenAI%20into%20a%20fully-custom%20solution%20for%20enterprises%3C%2Fp%3E%0A
Company%20profile
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
World%20Food%20Day%20
%3Cp%3ECelebrated%20on%20October%2016%2C%20to%20coincide%20with%20the%20founding%20date%20of%20the%20United%20Nations%20Food%20and%20Agriculture%20Organisation%2C%20World%20Food%20Day%20aims%20to%20tackle%20issues%20such%20as%20hunger%2C%20food%20security%2C%20food%20waste%20and%20the%20environmental%20impact%20of%20food%20production.%20%0D%3C%2Fp%3E%0A
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
PSA DUBAI WORLD SERIES FINALS LINE-UP
Men’s:
Mohamed El Shorbagy (EGY)
Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
Miguel Angel Rodriguez (COL)
Gregory Gaultier (FRA)
Karim Abdel Gawad (EGY)
Nick Matthew (ENG)
Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna