Latest news with #Gulf
Yahoo
2 hours ago
- Business
- Yahoo
Israeli officials express uncertainty over funding of new Gaza aid mechanisms
Both opposition chair, Yesh Atid head Yair Lapid and Yisrael Beytenu chair, Avigdor Liberman, said Israelis deserve honesty over where tax dollars are going. Israeli officials have expressed uncertainty over the funding for the distribution of aid in Gaza through the Gaza Humanitarian Foundation, The Jerusalem Post learned Friday. Although no information has been released regarding Israel's and possibly the United States' involvement, there has been speculation over direct Israeli involvement in the funding, notably from opposition leaders. Opposition head MK Yair Lapid questioned the government about the source of funding for two agencies involved during a Knesset plenum debate on Monday. Yisrael Beytenu chairman Avigdor Liberman claimed that the Mossad and the Defense Ministry are funding the aid distribution in Gaza in a post on X/Twitter on Tuesday. Lapid questioned whether Israel had secretly financed humanitarian aid to Gaza through two shell companies, GHF and the lesser-known Safe Reach Solutions (SRS), established in Switzerland and the US. According to Lapid, Gulf states were expected to fund the aid but declined, citing concerns about the companies' structure. Despite this, $100 million appeared in the organizations' budgets, with GHF's former CEO, Jake Wood, claiming the money came from "a country in western Europe," though no nation has acknowledged it. Wood later resigned, saying the aid plan couldn't fully adhere to humanitarian principles. 'If this money is indeed Israeli and the government is concealing it, it would not only be a deception of Israeli citizens—whose taxes fund it—but also one of the greatest diplomatic blunders in the country's history,' Lapid said. 'If our tax money is already purchasing humanitarian aid, funding food and medicine for children in Gaza, then let's at least gain international recognition for it. For once, let's have global headlines highlighting something positive Israel has done in Gaza.' "Hundreds of millions of dollars at the expense of Israeli citizens," Liberman wrote on X. Eliav Breur contributed to this report.
Khaleej Times
4 hours ago
- Automotive
- Khaleej Times
TAG Heuer celebrates return to Monaco with 3 new limited-edition watches
There are circuits, and then there's Monaco — a serpentine ribbon of tarmac winding through Monte Carlo's glittering heart, the Holy Grail of motorsport drama. Narrow, treacherous, and intoxicatingly glamorous — it's here, amid the engine roars and Riviera splendour, that the TAG Heuer Monaco forged its identity. Born in 1969 and named after this crown jewel of Formula 1, the Monaco was a mechanical renegade — the world's first square, water-resistant automatic chronograph, and a timekeeper of daring, destined to famously ride shotgun in racing legend. This year, as TAG Heuer takes the pole position as the first-ever title sponsor of the Formula 1 TAG Heuer Grand Prix de Monaco, it unveils a trio of Monaco watches. Each limited-edition piece tells its own story — of cinema, precision, and horological audacity. Monaco Chronograph x Gulf You can't mention the Monaco without invoking Steve McQueen — the epitome of racing cool — whose wrist famously sported a blue-dial Heuer Monaco in Le Mans. While the Gulf-striped Monaco wasn't the exact watch he wore, it stands as a vibrant tribute to the era, echoing the colours of McQueen's race car and suit. More than a timepiece, it's a symbol of his fearless spirit and TAG Heuer's deep-rooted connection to motorsport, capturing the raw energy of the track and the glamour of a time when style and speed collided gloriously. This 2025 edition revisits that electric moment with reverence and flair. Limited to 971 pieces, it revives the iconic left-side crown and square case configuration from 1969, powered by the Calibre 11. The dial is a symphony in silver grain, adorned with Gulf's unmistakable blue and orange racing livery — a palette that mirrors McQueen's suit and his Porsche 917K. The vintage Heuer shield above the dial seals the nostalgia. It's cinematic timekeeping in its most authentic form — a wearable reel of motor racing history. Monaco Chronograph Stopwatch TAG Heuer's second act is a tribute to timing itself — a love letter to the rugged, neck-worn stopwatches of the '60s and '70s. The Monaco Chronograph Stopwatch is more instrument than ornament. Encased in lightweight black DLC-coated titanium, the square form frames a stark black circular dial — a design echoing pit lane urgency. Red accents pulse across the minute track, while high-contrast subdials, faceted hands, and blackened indices sharpen the focus. At its heart ticks the Calibre 11, still anchored by Monaco's unmistakable left-side crown. Limited to 970 pieces, this model channels the spirit of Jack Heuer's relentless pursuit of clarity and function, where form follows pure purpose. Monaco Split-Seconds Chronograph The final chapter in this special trilogy is the most radical — a timepiece that defies convention and flirts with the future. The Monaco Split-Seconds Chronograph is more a leap than an evolution. Housed in TH-Titanium, a proprietary alloy with raw, elemental texture, this watch crackles with innovation. The TH81-00 calibre — crafted almost entirely from titanium — powers a split-seconds function that allows dual event timing, its lime green rattrapante hand slicing across the dial with razor precision. The checkered-flag rotor, hand-painted accents, and racing cues throughout transform it from tool to art. Every angle, every component is a reminder that racing — and watchmaking — are both theatres of ambition. Each of these limited editions is a distillation of the Monaco's essence: technical ingenuity, bold design, and a soul stitched to the Monte Carlo tarmac. With nostalgia-drenched elegance and cutting-edge engineering, these watches make TAG Heuer's return to Monaco more than a partnership — they mark an emphatic homecoming.
Argaam
4 hours ago
- Business
- Argaam
Saudi Aramco prices 3-part bond sale at $5B: Report
Saudi Aramco priced its dollar-denominated three-part bonds at $5 billion and set their yield spread, Reuters reported, citing fixed income news service IFR. The Saudi oil giant priced its five-year debt sale at $1.5 billion with spread at 80 basis points (bps) over US Treasuries. The 10-year portion spread was set at 95 bps with a price of $1.25 billion, while its 30-year portion spread was set at 155 bps with a price of $2.25 billion, the report said. According to data available on Argaam, Saudi Aramco announced, on May 27, plans to issue international bonds under its US-denominated Global Medium Term Note Programme. The net proceeds from each bond issuance will be used by Saudi Aramco for general corporate purposes or any other purpose specified in the final terms for a series of bonds.
Argaam
4 hours ago
- Business
- Argaam
Aramco publishes new sukuk issuance prospectus
Saudi Aramco published a new prospectus for its sukuk issuance program, signaling the state oil major may soon tap the debt markets. The prospectus, submitted to the London Stock Exchange where the sukuk would be listed, is dated May 30, Reuters reported. Aramco has a year to issue sukuk under its terms. The oil giant priced its dollar-denominated three-part bonds at $5 billion and set their yield spread, according to Argaam data. The net proceeds from each bond issuance will be used by Saudi Aramco for general corporate purposes or any other purpose specified in the final terms for a series of bonds.
Zawya
4 hours ago
- Business
- Zawya
Saudi Aramco could tap debt markets again after $5bln bond sale
Saudi Aramco has published a new prospectus for its issuance programme of Islamic bonds or sukuk, signalling the state oil major may soon tap the debt markets again after it raised $5 billion from a three-part bond sale this week. The prospectus, submitted to the London Stock Exchange where the sukuk would be listed, is dated May 30. Aramco has a year to issue sukuk under its terms. Aramco earlier this week raised $5 billion from a sale of conventional bonds. The borrowing comes after economic uncertainty and rising supply hit crude markets, denting the top oil exporter's profits. "Aramco is likely looking to take advantage of a window of relative market calm to issue debt again," said Zeina Rizk, co-head of fixed income at Amwal Capital Partners. Aramco in March said it expected to slash its dividend this year by nearly a third as profits and free cash flow decline. Reuters reported last week that Aramco is exploring potential asset sales to free up funds as it pursues international expansion and weathers lower crude prices. The Saudi government is heavily reliant on generous payouts from Aramco, its longtime cash cow, also including royalties and taxes. Oil receipts made up 62% of state revenue last year. The government does not disclose at which crude price its books are balanced. The IMF estimates it needs oil at over $90 a barrel for a balanced budget. Brent crude was trading around $64.4 on Friday. Citi, HSBC and JPMorgan are the arrangers of the sukuk programme and are joined as dealers by First Abu Dhabi Bank, Goldman Sachs, Morgan Stanley, SNB Capital and Standard Chartered. (Reporting by Yousef Saba in Dubai, Prerna Bedi and Mohd Edrees in Benglauru; Editing by Emelia Sithole-Matarise and David Holmes)
