Israel's economy will gradually reopen, says defence minister
Israel will gradually ease safety restrictions in some parts of the country and reopen its economy, Defence Minister Israel Katz said on Wednesday, even as the campaign against Iran continued.
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The National
26 minutes ago
- The National
Israel hopes for US involvement in Iran conflict
Iran's supreme leader Ayatollah Ali Khamenei said bluntly on Wednesday: 'The Americans should know that any US military intervention will undoubtedly be accompanied by irreparable damage." It was an emphatic warning to the world's mightiest superpower, made all the more remarkable by the fact that only days ago US President Donald Trump was touting high-level talks with Iran to secure a nuclear deal. Mr Khamenei's comments came amid signs of the US becoming more open to joining Israel's air campaign, which would be a massive escalation that many in the international community, from France to Russia, warn would have a dramatic effect on Middle East stability. Despite the risks, there is widespread agreement in Israel that if Iran's nuclear capabilities are to be fully destroyed, the US must take part, because only Washington possesses bunker-busting bombs that can reach the underground depths of the Fordow nuclear complex. Mr Trump met advisers in the Situation Room at the White House on Tuesday, shortly after returning early from the G7 summit in Canada over the escalating Middle East hostilities. The President wrote on his Truth Social platform "we know exactly where the so-called 'Supreme Leader' is hiding'. 'He is an easy target, but is safe there – we are not going to take him out (kill!), at least not for now. But we don't want missiles shot at civilians, or American soldiers. Our patience is wearing thin." In Israel, a press report has emerged that Israeli Prime Minister Benjamin Netanyahu and Defence Minister Israel Katz believe the US will join the fight in a matter of days. 'Trump is seriously considering attacking Iran,' said someone described as 'a senior Israeli source'. '[Mr Trump] will want to be remembered as someone who took part and didn't stay on the sidelines,' the source reportedly added. Despite Mr Netanyahu being on the brink of a collapse in his governing coalition shortly before the Iran campaign, all domestic political tension in Israel appear to have been put on hold. The country's opposition leader Yair Lapid also called for the US to join the fighting. In a video on Wednesday at the site of an Iranian missile strike in Herzliya, north of Tel Aviv, Mr Lapid said: 'I trust President Trump to do what's right for the US, but in talks with international officials and in the international press I repeatedly say – the US must join this battle. A nuclear Iran is a threat to the entire world, not just Israel.' Israeli newspaper The Jerusalem Post argued in an editorial that "Trump needs to take decisive action". "Mr President, this extreme theocracy needs to fall. Make its destruction as explicit a policy as the defeat of Nazi Germany or Saddam Hussein's Iraq," it said. "Harness every tool of American power, be it diplomatic, economic, covert, or militarised, to dismantle Ayatollah Khamenei's regime before it can realise its vow to erase Israel and America from the map. Only then can the region breathe free of tyranny and terror, and the cancer of radical theocracy be excised once and for all." The US has been moving significant numbers of aircraft closer to the Middle East. These include flying refuelling tankers and C17 aircraft to US bases in Europe, according to open-source monitoring group Aurora Intel. Earlier, Mr Trump had moved a dozen F-16 fighter jets to a base in Saudi Arabia, the group said. Former Israeli national security adviser Yaakov Amidror told The National that US participation would be pivotal for Israel in destroying Fordow. 'It's not about the wider war but a very specific place, Fordow, around which Israel has cleared Iranian anti-air defence systems [for a potential US strike],' Mr Amidror said. Outside of this, 'basically Israel doesn't need [the Americans],' Mr Amidror added. If the US did not join, he believed Israel's air force would find 'a solution because we have full control of Iran's skies'. 'What exactly, I don't know,' he said.
Arabian Business
36 minutes ago
- Arabian Business
Saudi National Bank's $1.25bn dollar-denominated Sukuk oversubscribed
Saudi National Bank's (SNB) issuance of US$1.25 billion in dollar-denominated Tier 2 notes, at a profit rate of 6.00 per cent, has been heavily oversubscribed. Bloomberg reported that order books exceeded $2 billion, according to a person familiar with the matter, who asked not to be identified. The bank also informed Tadawul that it will redeem a SAR 4.2 billion (US$1.12 billion) Tier 1 capital sukuk at face value on June 30, five years after the date of issuance. Bloomberg added that the bond may be priced as soon as Tuesday, with proceeds set to be used in part to strengthen SNB's capital base. The bank is issuing 6,250 Sukuks at a par value of US$200,000. Maturity period of the Sukuk is 10 years, but callable after five years. The Notes will be listed on the London Stock Exchange's International Securities Market. Saudi banks have been increasing their external debts recently, but global ratings agency S&P said in a report last month that it did not translate into any 'significant vulnerabilities'. Lower oil prices and geopolitical disturbances in the region have raised concerns, but S&P said: 'While the absolute numbers may appear significant, we expect Saudi banks' net external debt position to remain at a manageable level of about 4.1 per cent of total lending by the end of 2028.' As for the redeemed bond of SAR4.2 billion, SNB informed Tadawul: 'The Sukuk was issued on 30 June 2020 for an aggregate value of SAR4,200,000,000 and in accordance with its terms and conditions, Saudi National Bank, as issuer, intends to call the Sukuk on 30 June 2025. Regulatory approval has already been obtained.' The bank stated that the redemption amount, together with any accrued but unpaid periodic distributions, will be paid on the specified day.
Arabian Business
36 minutes ago
- Arabian Business
US companies flock to Dubai as DMCC reports 7% surge in American business registrations
Dubai Multi Commodities Centre (DMCC) has reported a 7 per cent year-on-year increase in US company registrations, reinforcing its status as the leading international business district in the UAE and a key hub for American firms expanding into the Middle East, Asia, and Africa. Now home to more than 45 per cent of the estimated 1,500 American businesses operating in the UAE, DMCC has become the preferred launchpad for US firms seeking to access some of the world's fastest-growing markets. This uptick in American interest comes in the wake of US President Donald Trump's landmark visit to the UAE in May 2025. US firms in Dubai The visit resulted in $200bn in strategic trade agreements, covering sectors such as: Artificial intelligence Energy Defence Aviation Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC, said: 'President Trump's recent visit to the UAE – part of the first official foreign visit of his second term – marks a new chapter in economic collaboration between the UAE and United States. 'With bilateral trade reaching $34.4bn in 2024, there is significant trade and investment momentum as well as appetite among American businesses to set up in Dubai and tap into global markets.' To capitalise on this momentum, DMCC hosted its Made For Trade Live series in New York City, Brooklyn, and Miami, engaging more than 150 US business leaders from sectors including tech, finance, commodities, and advanced manufacturing. These events are part of DMCC's long-term strategy to attract high-growth American companies to Dubai, positioning the emirate as a springboard into EMEA and South Asia. As of mid-2025, nearly 26,000 companies operate out of DMCC, including more than 700 from the United States. The district offers a full-service ecosystem for trade, innovation, and entrepreneurship — all within Dubai's free zone framework.
