Latest news with #Fawaz
Wall Street Journal
21-04-2025
- Business
- Wall Street Journal
Gold Rises, Buoyed by Likely Safe-Haven Demand Amid Global Trade Uncertainty
2339 GMT — Gold rises in the early Asian session, buoyed by likely safe-haven demand amid global trade uncertainty. The lack of a clear timeline for U.S.-China trade negotiations continues to maintain investors' cautiousness, GivTrade's Hassan Fawaz says in an email. Also, the ECB's recent rate cut could enhance the precious metal's allure in a low-yield environment, the chairman and founder says. Focus for this will likely to be on U.S. macroeconomic data and any new developments on the trade front, Fawaz adds. Spot gold is 0.6% higher at $3,347.33/oz. (
Daily Tribune
10-04-2025
- Politics
- Daily Tribune
Bahraini Ambassador Meets UK Special Envoy to Discuss Religious Freedom and Coexistence
Shaikh Fawaz bin Mohammed Al Khalifa, Ambassador of the Kingdom of Bahrain to the United Kingdom, met with David Smith MP, the UK's Special Envoy for Freedom of Religion or Belief, to discuss ways to enhance bilateral cooperation in promoting religious freedom, peaceful coexistence, and mutual respect among nations. During the meeting, Shaikh Fawaz highlighted Bahrain's firm commitment to advancing dialogue and tolerance under the humanitarian and diplomatic vision of His Majesty King Hamad bin Isa Al Khalifa. He reaffirmed Bahrain's dedication to building international partnerships rooted in a culture of peace and respect for religious and cultural diversity. He underscored the key pillars of His Majesty's vision, supported by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, which aim to consolidate the values of coexistence and tolerance. Notable initiatives include the establishment of the King Hamad Award for Coexistence and Tolerance, and His Majesty's global call for an international agreement to criminalize religious, sectarian, and racist hate speech in all its forms. Shaikh Fawaz also highlighted the recent adoption by the United Nations General Assembly of January 28 as the International Day of Peaceful Coexistence, following a proposal from the Kingdom of Bahrain. He praised the role of the King Hamad Global Center for Coexistence and Tolerance in advancing values of peace, interfaith dialogue, and mutual understanding. Both sides discussed the importance of strengthening Bahrain-UK collaboration in the field of religious freedom and global coexistence efforts. They agreed that both nations have significant potential to lead in promoting tolerance and interfaith harmony on the international stage.
Arabian Business
14-03-2025
- Business
- Arabian Business
Upcycling aviation history: Wings Craft Shop's mission for innovation and sustainability
Upcycling is one of the vital practices in combatting waste and environmental degradation. Wings Craft Shop, a brand based in the United Arab Emirates, takes the concept of reimagining discarded materials into beautiful, functional art to another level. It turns reclaimed aviation parts into unique furniture, décor, and gifts, allowing people to welcome a slice of aviation history into everyday spaces. Founder Fawaz Mohammad Ali created the brand to honour the legacy of aviation and champion environmental responsibility. Fawaz, born and raised in the UAE, ventured into aviation in 2004 after completing his engineering studies in India. He initially worked with a business aviation firm and later advanced through roles in a leading business aviation organisation and a renowned American aerospace company. These experiences allowed him to gather decades of hands-on experience in aircraft maintenance and engineering. Fawaz has always been a keen observer. He realised that unserviceable and sometimes perfectly functional aircraft parts were routinely discarded after their service life. This prompted an 'aha' moment for him. He pondered: 'Why not repurpose these components into art and functional décor?' He did exactly this and used his home garage to experiment and refine his designs. Fawaz pitched his concept in a competitive funding contest for startups that he had serendipitously heard of on the radio. Carrying with him his tangible prototypes and genuine passion, Fawaz secured the first prize. Of course, the journey doesn't stop at securing funding. Fawaz had to pour in personal savings and kickstart the business in a modest workshop in Ajman while still holding down a day job. Hard work indeed pays off. Today, Wings Craft Shop serves local markets and ships products worldwide. 'As an engineer, I know just how many hours of research, design, and trial go into every aircraft,' Fawaz shares. 'Components are simply discarded when they fail. But I believe every piece deserves a second chance to continue telling its story. That's why, at Wings Craft, we breathe new life into these forgotten fragments. We repurpose something that seems useless into something remarkable.' Aviation enthusiasts and frequent flyers appreciate Fawaz's sentiment. Indeed, while not everyone can own a whole aircraft, with Wings Craft Shop, people can have a tangible piece of it. This emotional connection is evident in each of the company's meticulously crafted items, from home décor and personalised gifts to innovative art installations and custom projects. Customers also choose Wings Craft because of its commitment to reducing waste and giving new purpose to materials that would only contribute to environmental challenges. Over 80 per cent of an aircraft's components can now be recycled, but the traditional recycling methods remain costly, energy-intensive, and environmentally unfriendly. The scrapping process (especially for complex composites and hazardous materials) can cost tens of thousands of dollars per aircraft. Wings Craft Shop mitigates the environmental and financial effects of conventional recycling and scrapping practices by upcycling these materials instead. A project that demonstrates Wings Craft's innovative approach is its collaboration with a major regional airline's upcycling initiative. Wings Craft Shop repurposed parts of the airline's first retired A380 by turning components such as an aircraft main wheel, wing fuel panels, and an iconic gold-plated logo into bespoke, collectable pieces. The company's work on the IL-76 Project is also noteworthy. Fawaz personally sourced components from the decommissioned Soviet-era cargo plane in Umm Al Quwain. Aviation fans were able to own a piece of history with Wings Craft's limited edition, pocket-sized plane tags, which are laser-etched with the aircraft's details. Wings Craft Shop's conversation pieces that embody innovation, sustainability, and a passion for aviation have attracted significant interest from both individual collectors and corporate clients, establishing the brands' impact on sustainable craftsmanship in the Middle East. As Wings Craft Shop grows, Fawaz ensures the company stays committed to sustainability and the preservation of invaluable pieces of aviation history. Such notable work has led the founder to be celebrated as one of the honoured leaders at the Next MasterMind Awards 2025, where he obtained the Outstanding Leadership in Sustainable Aviation, Art, and Interior Excellence award. Fawaz Mohammad Ali states: 'Our vision is to become a global leader in sustainable craftsmanship. Aviation is woven into our identity here in the UAE, so we aim to turn aircraft pieces into innovative, eco-friendly masterpieces that inspire.'
Khaleej Times
29-01-2025
- Business
- Khaleej Times
Dubai: Gold prices bounce back, gain Dh1.5 per gram in early trade on Wednesday
Gold prices bounced back in Dubai on Wednesday morning after opening lower for 2 days this week, rising Dh1.5 per gram. The Dubai Jewellery Group data showed 24K opening higher at Dh334.5 per gram, up from Dh333.0 at the close of the markets on Tuesday. Similarly, 22K, 21K and 18K also opened higher at Dh309.75, Dh299.75 and Dh257.0 per gram, respectively. Globally, gold was steady at $2,761.7 per ounce. Hassan Fawaz, chairman and founder of GivTrade, said market sentiment has been affected by US President Donald Trump's recent trade tariff threats, which have sparked concerns over their potential economic impact. Stay up to date with the latest news. Follow KT on WhatsApp Channels. "These concerns could drive investors toward safe-haven assets like gold. In this regard, the metal could continue to find support from heightened economic uncertainty surrounding Trump's second term and future policy announcements,' said Fawaz. 'Over the long term, gold could also continue to find strength in the sustained demand from central banks,' he added. [Editor's Note: For real-time gold rates, click on the widget below or visit KT's dedicated Trading News page here. ] At the same time, investors are closely monitoring the Federal Reserve's two-day policy meeting. While the central bank is expected to maintain interest rates unchanged, market participants are particularly interested in Fed Chair Jerome Powell's upcoming speech, where he could address President Trump's calls for interest rate cuts and potentially hint at the next steps in monetary policy. 'Trump's potentially inflationary policies could prompt the Fed to maintain elevated rates for longer, which could weigh on gold,' added Fawaz.
