Syria completes first global SWIFT transfer since war, governor says
Central bank governor Abdelkader Husriyeh said that a direct commercial transaction had been carried out from a Syrian to an Italian bank on Sunday, and that transactions with US banks could begin within weeks.
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Time of India
8 hours ago
- Time of India
Yes, more and more celebrities are entering the phone business. Here's why
More and more celebrities are looking to attach their names to your phone. Or rather, wireless services that could power it. From cosmetics to snacks and signature spirits, brands launched or co-owned by high-profile figures are just about everywhere you look today. But several big names are also venturing into the market for mobile virtual network operators - or MVNOs, an industry term for businesses that provide cell coverage by leasing infrastructure from bigger, more established carriers. U.S. President Donald Trump's family was the most recent to join the list with the launch of Trump Mobile this week. Here's what to know. Which big names have entered the phone business? On Monday, The Trump Organization (currently run by the president's sons Eric and Donald Jr.) unveiled Trump Mobile. The company says this new business will offer cell service, through an apparent licensing deal with "all three major cellular carriers" in the U.S., and sell gold phones by August. Trump Mobile marks the latest in a string of new Trump-branded offerings - which already span from golden sneakers to "God Bless the USA" bibles - despite mounting ethical concerns that the president is profiting off his position and could distort public policy for personal gain. "This raises a real question about a conflict of interest," said Ben Bentzin, an associate professor of instruction at The University of Texas at Austin's McCombs School of Business. As the sitting president, Trump appoints leadership for the Federal Communications Commission - and the family's new phone venture exists under this regulatory authority. All of this sets Trump Mobile apart from other big names that have recently ventured into the wireless business. Still, its launch arrives as a growing number of celebrities tap into this space. Just last week, actors Jason Bateman, Sean Hayes and Will Arnett launched SmartLess Mobile, a name that mirrors the trio's "SmartLess" podcast. Now live across the contiguous U.S. and Puerto Rico, SmartLess Mobile runs on T-Mobile 's 5G Network. Another wireless provider with ties to fame is Mint Mobile . While not launched by celebrities, Ryan Reynolds purchased an ownership stake in Mint in 2019. Mint's parent, the Ka'ena Corporation, was later acquired by T-Mobile in a deal worth up to $1.35 billion. Beyond names of famous people, well-known brands that weren't traditionally in the phone business have also got in on the action over the years - particuarly outside of the U.S., Forrester Research senior analyst Octavio Garcia Granados notes. He points to Walmart's "Bait" mobile plan in Mexico, for example, as well as Italian soccer club AC Milan launching its own mobile SIM cards for fans. "The MVNO market is not new," said Granados. "What's new is the development on how it's consumed and the (ease) for brands to launch such plans." MVNOs have also emerged outside of high-profile brands or launch teams. Bentzin points to Straight Talk and Cricket - which are now owned by Verizon and AT&T , respectively. Still, traditional celebrity endorsements are common across the board. And in recent years, "influencer marketing" has been "the fastest growing area of advertising and promotion," he notes. What are these cell services offering? Why were they launched? For Trump Mobile, the pitch seems to be all about having an "all-American service" while also tapping into the fan base of the president. The company noted Monday that it chose to unveil Trump Mobile on the 10th anniversary of Trump launching "his historic presidential campaign." The name given to its flagship offer, The 47 Plan, and the $47.45 monthly fee make reference to the president's two terms. And a mock-up of the planned gold phone on the company's website shows Trump's "Make America Great" slogan on the front screen. According to the company, Trump Mobile's 47 Plan will include unlimited calls, texts and data through partner carriers, as well as free roadside assistance and telehealth services. It also says the new phone, called the "T1 Phone," will be available for $499 in August - but notes that this device won't be designed or made by Trump Mobile. Still, the company emphasized that these phones will be built in the U.S. Experts have since shared skepticism about that being possible in two months. And beyond the future T1 Phone, others stress that a monthly cell service fee of just under $50 is pricey compared to other MVNO options today. "It's not actual lower pricing. It's really trading on the fan base, if you will, of Trump," said Bentzin. SmartLess Mobile and Mint Mobile, of course, don't carry these same political ties. And the wireless plans offered by both boast less expensive offerings. T-Mobile-owned Mint advertises "flexible, buy-in-bulk" plans that range from $15 to $30 a month. Each option includes unlimited talk and text nationwide, but vary depending on plan length and data amount. Mint, founded in 2016, says it started "because we'd had enough of the wireless industry's games" - and promises to help consumers avoid hidden fees. SmartLess Mobile's plans also start at $15 a month. Depending on the data amount purchased, that base fee can rise to $30 - but all of its plans similarly offer unlimited talk and text using T-Mobile's network. When launching last week, SmartLess underlined that its goal is to help people stop paying for the data they don't use, noting that the majority of data used by consumers today happens over Wi-Fi. "Seriously, if your phone bill knew how often you're on Wi-Fi, it would be embarrassed," Hayes said in a statement for SmartLess Mobile's June 10 launch. What's the demand? MVNOs have proven to be attractive acquisitions to big wireless carriers over the years. But whether or not the star factor promises significant demand has yet to be seen for the market's most recent entrants. For the more established Mint Mobile, Reynolds' investment is a success story. The 25% stake that the actor reportedly owned in 2023, when the company announced that it would be acquired by T-Mobile, was estimated to give him a personal windfall of over $300 million in cash and stock. And since that deal closed, Reynolds has remained in his creative role for Mint and as the face of many campaigns - helping the brand continue to attract new customers. It's no surprise that the potential of such business returns might attract other celebrities to make similar investments, Bentzin notes. Still, newer ventures are untested. And "as the market becomes more crowded, it could be harder and harder to pick off individual consumers," he added. Beyond a high-profile name, quality of service and what consumers can afford is also critical. "The competition battleground here is brand and price," Bentzin said. Still, if the marketing is right and product meets consumer needs, experts like Garcia Granados note that MVNOs can be a profitable business, for both the brands that start them and the telecommunications giants - like T-Mobile, Verizon and AT&T - offering this "wholesale" access to their infrastructure. As a result, he said, such high-profile ventures become "a catalyst for others to follow." (AP Business Writer Bernard Condon contributed to this report from New York.)
Time of India
11 hours ago
- Time of India
Reviving roots: How Saudi chefs are redefining heritage cuisine
Haneeth is a popular dish in Saudi Food driven by landscapes and hyperlocal ingredients A golden, crisp sphere arrives at the table, visually unassuming until the first bite. The shell shatters to reveal a warm, tender centre. It evokes arancini, but this isn't Italian. The grains are broken durum wheat and smoked rice; the coating,crumbs—bread steeped in a stew of vegetables and meat, carrying layers of flavour. Deep-fried and served in a single mouthful, it's a riff on, a traditional, three-layered Saudi feast. At Takya in Riyadh, a restaurant dedicated to preserving ancestral recipes, heritage comes reimagined as haute are many more like Takya. Saudi Arabia's culinary scene is evolving as swiftly as its tourism vision. Once known for its modest kasbah-style eateries, the dining landscape of Riyadh and Jeddah now hosts global fine-dining icons, such as Yauatcha, Nobu, and Roka. A wave of restaurants across the country is now looking inward, using regional ingredients and culinary heritage to reimagine traditional flavours through a contemporary shift is part of a larger transformation. Since 2016, the Middle Eastern country has been steadily pivoting from a fuel-focused economy to one powered by tourism, in alignment with its ambitious Vision 2030 agenda. Massive investments are driving this change, including three giga projects: the multi-billion-dollar Red Sea Project, the futuristic smart city of Neom, and the restoration of cultural heritage hubs like Diriyah and plays a key role in this vision—not just as a trade ally but also as a key tourism market. In 2023, Saudi Arabia welcomed around 1.5 million Indian visitors, a 50% jump from the previous year. The country is strengthening flight connectivity and easing visa access, as it aims to attract 7.5 million Indian tourists annually by 2030.'Saudi Arabia is deeply rooted in tradition, but at the same time, the country is rapidly evolving. In a way, the culinary scene reflects that,' says executive chef Daniele Polito of The St. Regis Red Sea Resort, one of the five resorts that are currently operational as part of the Takya, the menu spans the kingdom. From the north, there's red—broken durum wheat simmered in tomatoes and local spices. From the east, a lamb shank slow-cooked with, a red wild rice indigenous to the region, cooked with date molasses and crispy onions. From the west,, a creamy rice dish made with milk, broth, and chicken. From the central region,—a warm whole-wheat bread pudding made withdates and ghee. And from the south,, slow-cooked lamb chops smoked with herbs and served over rice.'Saudi Arabia's landscapes are incredibly diverse, and every region is known for different ingredients. The east is known for its seafood due to its proximity to the Gulf, whereas the west, a pilgrimage hub, has culinary influences from travellers around the world. We wanted to capture the diversity of the food from the region,' says Hadeel Al Motawa, Co-founder of religious and trade travel have long been integral to Saudi culture, leisure travel within the country has gained popularity post-2016. 'Before, most people knew the food in their own region,' says Al Motawa, who has journeyed across the country to gather recipes for Riyadh, chefs in Saudi's emerging tourism destinations are tapping into age-old methods of cooking. At Nesma, the Arabic restaurant with Turkish influences at The St. Regis Red Sea, chief Polito channels the cooking methods of nomadic Bedouin tribes, who slow-cooked meat underground to retain moisture and flavour. His version—lamb shank cooked sous vide until fall-off-the-bone tender—is served atop aromaticrice, studded with toasted the coast in the Alnesai Desert, at the Six Senses Red Southern Dunes, a taste of traditional Saudi dishes begins right from breakfast, with dishes like, lamb stir-fried in Arabic spices, and, goat liver sautéed with tomatoes. At the hotel's Arabic restaurant, Bariya,is elevated with duck instead of chicken, and dates are celebrated in playful as boats for quinoa salads with lemon and tahini, while, a dish of chicken and rice with nuts, gets its umaminess from a home-madedate syrup. 'A lot of the pulp goes to waste while making date syrup, so we use it in jams and chutneys that end up in dishes like hummus,' explains executive chef Nelson the desert oasis of AlUla, the local bounty finds pride of place on plates. At Banyan Tree AlUla's all-day restaurant Harrat, unripedates—yellow-hued with a honey-like sweetness—are used to glaze meats and in dressings. At Tamas, the restaurant at Our Habitas AlUla, global dishes are created with hyperlocal ingredients: salads with cactus greens, moringa flowers, kumquats, and beef paired with cactus chimichurri.'Though a desert, AlUla is incredibly fertile,' says executive chef Gerardo Corona Alarcón. 'We use local mandarins, mingans, and blood oranges in salads, moringa in drinks, and cactus in our spice rubs. The landscape drives the menu.'As tourism grows and Saudi Arabia continues to evolve, chefs are racing to keep their culinary heritage alive. 'It's not about changing tradition,' says chef Polito. 'We want to educate tourists and future generations with a spark of innovation and intrigue. The ingredients, stories, and history remain intact, but the lens is new.'
Deccan Herald
13 hours ago
- Deccan Herald
Syria completes first global SWIFT transfer since war, governor says
Central bank governor Abdelkader Husriyeh said that a direct commercial transaction had been carried out from a Syrian to an Italian bank on Sunday, and that transactions with US banks could begin within weeks.
