Iranian Islamic Revolutionary Guard Corps Navy (IRGCN) vessels near US Military ships at close range. EPA
Iranian Islamic Revolutionary Guard Corps Navy (IRGCN) vessels near US Military ships at close range. EPA
The US Navy accuses Iran of conducting 'unsafe' actions close to US warships. EPA
Iranian Islamic Revolutionary Guard Corps Navy (IRGCN) vessels near US Military ships at close range. EPA
The US Navy accuses Iran of conducting 'unsafe' actions close to US warships. EPA
A handout photo made available by the US Naval Forces Central Command / US 5th Fleet via the Defense Visual Information Distribution Service (DVIDS) shows Iranian Islamic Revolutionary Guard Corps Navy (IRGCN) vessels near US Military ships. EPA
The US Navy accuses Iran of conducting 'unsafe' actions close to US warships. EPA
Iran’s unacceptable behaviour is disrupting the Middle East and Tehran will be held to account if it continues along the path of aggression, the region’s most senior British general has said.
The country’s military activities have led to a “destabilisation” of the Middle East and Iran faces further international isolation if it continues, said Lt Gen Sir John Lorimer.
"We have long said that that behaviour is unacceptable and must not be repeated," he told The National in an extensive interview. "From our perspective Iran faces a choice – if you continue in this way or increase or ratchet up this approach you will face growing isolation from the international community."
He added: “The Gulf is critical and our strategic aim remains to help de-escalate tensions. But we have to still hold Iran to account in terms of its destabilising regional activity.”
As the most senior British military commander for the region, Lt Gen Lorimer’s warning will carry weight in the ongoing struggle with Tehran.
As a major trading hub the Gulf’s security is critical to the global economy, he said, particularly in the post-pandemic recovery. But Iran’s actions of firing rockets at American bases and fomenting militias in Iraq as well as attacking Saudi Arabia last September risks economic hardship.
“We’ve been pretty clear for some time over Iran’s destabilising activity in the region, including its political, financial and military support to a number of militant and proscribed groups including militias in Iraq. We haven’t been quiet about it.”
Iran’s continuing nuclear weapons programme as well as its funding of militant groups such as Hezbollah has led to strict economic sanctions that have harmed its economy alongside the recent slide in oil prices and impact of Covid-19.
Iranian President Hassan Rouhani, right, and the head of Atomic Energy Organization of Iran Ali Akbar Salehi inspect the nuclear technology on the occasion of Iran National Nuclear Technology Day in Tehran in 2019. EPA
IR-8 centrifuges at Natanz nuclear power plant, some 300 kilometres south of capital Tehran. AFP
The Iranian nuclear power plant in Bushehr in 2010. EPA
Salehi speaks with media while visiting Natanz enrichment facility, in central Iran in 2019. Atomic Energy Organization of Iran via AP
The gate of Natanz nuclear power plant in Natanz , Isfahan province, in 2019. EPA
Inside of the Iran's Fordow nuclear facility, in Fordow, Qom province in 2019. EPA
Technicians work at the Arak heavy water reactor's secondary circuit, as officials and media visit the site, near Arak, Iran in 2019. Atomic Energy Organization of Iran via AP
Members of the media and officials tour the water nuclear reactor at Arak in 2019. WANA via Reuters
Concrete is poured for the base of the second nuclear power reactor at Bushehr plant in 2019. Atomic Energy Organization of Iran via AP
If it continued along a warlike path “it would end up isolated from the rest of the world”, Lt Gen Lorimer said, and added: “Or it can come in and find a solution to the problem, it can work with us and others to find a solution to de-escalate the problem. Is it easy? No. But it’s a really important issue for the region and more widely.”
'Diplomatic door is open'
A worker of the Venezuelan state oil company PDVSA waves an Iranian flag as the Iranian-flagged oil tanker Fortune docks at the El Palito refinery in Puerto Cabello, in the northern state of Carabobo, Venezuela. AFP
Workers on the 'Fortune' the Iranian ship with gasoline in Puerto Cabello, Venezuela. EPA
Iranian-flagged oil tanker Fortune docked at the El Palito refinery after its arrival to Puerto Cabello, in the northern state of Carabobo, Venezuela. AFP
A worker of the state-oil company Pdvsa holds an Iranian flag during the arrival of the Iranian tanker ship "Fortune" at El Palito refinery in Puerto Cabello, Venezuela. Reuters
Crew of the Iranian tanker ship "Fortune" are seen at the deck during the arrival at El Palito refinery in Puerto Cabello, Venezuela. Reuters
Workers of the state-oil company Pdvsa holding Iranian and Venezuelan flags greet during the arrival of the Iranian tanker ship "Fortune" at El Palito refinery in Puerto Cabello, Venezuela. Reuters
A Venezuelan oil worker holding a small Iranian flag attends a ceremony for the arrival of Iranian oil tanker Fortune at the El Palito refinery near Puerto Cabello, Venezuela. AP Photo
The Venezuelan industry minister Tareck El Aissami (C), speaks next to Venezuela's defence Minister Vladimir Padrino(R) after the Iranian oil tanker Fortune docked at the El Palito refinery in Puerto Cabello, in the northern state of Carabobo, Venezuela. AFP
A worker of the Venezuelan state oil company PDVSA looks at the oil tanker Fortune as it docks at the El Palito refinery in Puerto Cabello in the northern state of Carabobo, Venezuela. AFP
Workers with the flags of Venezuela and Iran waiting for Venezuela Minister of Petroleum Tareck el Aissami in Puerto Cabello, Venezuela during his visit to the 'Fortune' Iranian ship. EPA
Venezuela Minister of Petroleum Tareck el Aissami in Puerto Cabello, Venezuela during his visit to the 'Fortune' Iranian ship. EPA
Regional concerns about Iran’s military activity have grown as the country stockpiles precision-guided missiles that can hit targets such as oil installations and airbases with an accuracy of within 30 metres.
Lt Gen Lorimer said: “If Iran wants to be isolated, to continue on the trajectory it is on, or comes in and realises that if it wants to be part of international community, it needs to stop what it’s doing and negotiate with us for a peaceful way forward.”
The officer, a fluent Arabic speaker who commanded a British brigade in Iraq in 2005, said the “diplomatic door is open” for Iran to negotiate a peaceful solution.
“I know that is just words and it’s really tough and made tougher by the virus. But we hope we will get some kind of negotiation that will ensure the region is stabilised and leads to some kind of peaceful negotiation.”
The Owo building is 14 storeys high, seven of which are below ground, with the 30,000 square feet of amenities located subterranean, including a 16-seat private cinema, seven lounges, a gym, games room, treatment suites and bicycle storage.
A clear distinction between the residences and the Raffles hotel with the amenities operated separately.
Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
Groom and Two Brides
Director: Elie Semaan
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Men 1.45pm, Malaysia v Australia (Court 1); Singapore v India (Court 2); UAE v New Zealand (Court 3); South Africa v Sri Lanka (Court 4)
Women Noon, New Zealand v South Africa (Court 3); England v UAE (Court 4); 5.15pm, Australia v UAE (Court 3); England v New Zealand (Court 4)
What is the Supreme Petroleum Council?
The Abu Dhabi Supreme Petroleum Council was established in 1988 and is the highest governing body in Abu Dhabi’s oil and gas industry. The council formulates, oversees and executes the emirate’s petroleum-related policies. It also approves the allocation of capital spending across state-owned Adnoc’s upstream, downstream and midstream operations and functions as the company’s board of directors. The SPC’s mandate is also required for auctioning oil and gas concessions in Abu Dhabi and for awarding blocks to international oil companies. The council is chaired by Sheikh Khalifa, the President and Ruler of Abu Dhabi while Sheikh Mohamed bin Zayed, Abu Dhabi’s Crown Prince and Deputy Supreme Commander of the Armed Forces, is the vice chairman.
The biog
Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates
Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.
Favourite pastime: travelling and experiencing different cultures across the globe.
Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.
Favourite Movie: Mona Lisa Smile
Favourite Author: Kahlil Gibran
Favourite Artist: Meryl Streep
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
Kanguva
Director: Siva
Stars: Suriya, Bobby Deol, Disha Patani, Yogi Babu, Redin Kingsley
Be honest and transparent: It is always better to own up than be found out. Tell your partner everything they want to know. Show remorse. Inform them of the extent of the situation so they know what they are dealing with.
Work on yourself: Be honest with yourself and your partner and figure out why you did it. Don’t be ashamed to ask for professional help.
Give it time: Like any breach of trust, it requires time to rebuild. So be consistent, communicate often and be patient with your partner and yourself.
Discuss your financial situation regularly: Ensure your spouse is involved in financial matters and decisions. Your ability to consistently follow through with what you say you are going to do when it comes to money can make all the difference in your partner’s willingness to trust you again.
Work on a plan to resolve the problem together: If there is a lot of debt, for example, create a budget and financial plan together and ensure your partner is fully informed, involved and supported.
Carol Glynn, founder of Conscious Finance Coaching
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
From Europe to the Middle East, economic success brings wealth - and lifestyle diseases
A rise in obesity figures and the need for more public spending is a familiar trend in the developing world as western lifestyles are adopted.
One in five deaths around the world is now caused by bad diet, with obesity the fastest growing global risk. A high body mass index is also the top cause of metabolic diseases relating to death and disability in Kuwait, Qatar and Oman – and second on the list in Bahrain.
In Britain, heart disease, lung cancer and Alzheimer’s remain among the leading causes of death, and people there are spending more time suffering from health problems.
The UK is expected to spend $421.4 billion on healthcare by 2040, up from $239.3 billion in 2014.
And development assistance for health is talking about the financial aid given to governments to support social, environmental development of developing countries.
