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The Star
06-05-2025
- Business
- The Star
Flight of a Syrian despot
AS his regime crumbled, Bashar al-Assad made a hasty exit, using a private jet to move cash, valuables and confidential documents from Damascus to the United Arab Emirates (UAE) in a covert four-flight operation. The Embraer Legacy 600 jet – tail number C5-SKY and registered in Gambia – was arranged by Assad's top economic aide, Yasar Ibrahim. The aircraft shuttled key aides, relatives and materials critical to Assad's corporate empire out of Syria in the final 48 hours before the regime's collapse. Sources – ranging from ex-intelligence officers to insiders in Assad's business network – confirmed that each flight ferried black bags of cash (each containing at least US$500,000), electronic devices and documents outlining the structure of 'The Group', a web of entities controlling sectors from telecoms to energy. Yasar was sanctioned for facilitating the regime's economic survival through shell companies and financial fronts. The fourth and final flight departed on Dec 8 from the Russian-operated Hmeimim military base in Latakia, on Syria's Mediterranean coast. Assad himself left from the same base for Russia, where he was granted asylum. Personal souvenirs belonging to the former president strewn about one of the palace's rooms. — Reuters Reuters spoke to 14 Syrian sources and examined satellite images, WhatsApp chats between Yasar's associates and global aviation records to reconstruct the secretive operation. On Dec 6, as rebels neared Damascus, the 13-seat jet arrived at the capital's international airport. Air Force intelligence officers sealed off the VIP terminal. According to sources on-site, a convoy of Republican Guard vehicles escorted passengers and cargo to the jet. The head of airport security, Brig-Gen Ghadeer Ali, reportedly told ground staff, 'This plane is coming to land and we will deal with it. You have not seen this plane.' Assad's direct involvement was not officially confirmed, but the presence of the Republican Guard – a unit loyal only to Assad or his cousin Gen Talal Makhlouf – left little doubt. 'Bashar gave the orders,' said a former Guard officer. Flight data shows the C5-SKY jet flew to Abu Dhabi's Al Bateen Executive Airport on each trip. It first arrived in Damascus just after midday on Dec 6, then returned to Abu Dhabi the same evening. Each time the jet landed, cars rushed to meet it. Witnesses say palace staff, relatives and even teenagers boarded the first two flights, along with bags of cash and artworks. The third flight on Dec 7 carried hard drives and documents detailing financial records, company ownerships and offshore transfers linked to Assad's empire. UAE embassy vehicles were reportedly seen near the plane before take-off, suggesting that the Gulf state was aware. With rebels at the gates on Dec 8, Assad fled to Latakia under Russian protection. People waving flags adopted by the new Syrian government during celebrations in Damascus after Assad's ousting. — Reuters That same day, the C5-SKY plane vanished from tracking radar after passing Homs, only to reappear hours later, flying back to Abu Dhabi. Satellite imagery confirmed the jet had landed at Hmeimim air base. Aboard was Ahmed Khalil Khalil, a sanctioned associate of Yasar, who arrived in an Emirati embassy armoured vehicle and carried US$500,000 in cash. The funds had been withdrawn two days earlier from Syria International Islamic Bank, via an account linked to Al-Burj Investments – a company half-owned by Yasar. Sources said the aircraft was leased under a 'dry lease' – providing only the plane, without crew or operations. The jet was leased from Lebanese businessman Mohamad Wehbe, who referred to it in a WhatsApp chat as 'the Lebanese plane'. It was registered in Gambia under Flying Airline Company, which is majority-owned by an Iraqi national and partly by a Lebanese man named Oussama Wehbe – believed to be Mohamad's son. C5-SKY had flown frequently to Russia before Assad's fall, including during a period when Western aviation sanctions were in place against Moscow. The government of new Syrian president Ahmed al-Sharaa is determined to recover assets smuggled abroad. A senior official confirmed that money was taken before Assad's fall but offered no details. While it's unclear if Assad personally directed the operation, insiders said such a sensitive mission could not have proceeded without his consent. — Reuters
Yahoo
28-03-2025
- Automotive
- Yahoo
Hyundai Motor Group Launches 'Pleos' Software Brand, Unveiling New SDV Technologies and Collaborations
The Group introduced its software brand Pleos and outlined plans for its software-centric 'Cloud Mobility' ecosystem at Pleos 25 developer conference Proprietary vehicle OS unveiled to boost SDV performance and scalability based on E&E architecture Pleos Connect next-generation infotainment system to launch in Q2 2026; will be applied to more than 20 million vehicles by 2030 Pleos Playground, an open development platform, established to facilitate vehicle control and app development process and diversify the in-vehicle app ecosystem The Group's Next Urban Mobility Alliance introduced as a public-private partnership to connect and optimize the transportation environment Plans to expand SDV ecosystem unveiled, strengthening collaborations with Google, Uber, Samsung, Naver, SOCAR and Unity SEOUL, South Korea, March 28, 2025 /PRNewswire/ -- Hyundai Motor Group (the Group) today introduced its new mobility software brand 'Pleos' at its 'Pleos 25' developer conference in Seoul, also unveiling plans for collaboration with global partners to enhance in-vehicle app ecosystems. The inaugural event marked a significant step toward the Group's evolution into a mobility tech company by sharing the development status of software-defined vehicles (SDVs) and revealing plans for creating an in-vehicle app market and ecosystem based on its next-generation infotainment system. "In the rapidly changing automotive industry, the Group has been dedicated to SDV development since 2023. Today, starting with Pleos 25, we are transforming into a company providing software-centered mobility experiences," said Chang Song, President and Head of Hyundai Motor and Kia's Advanced Vehicle Platform (AVP) Division. "Our ultimate goal is to achieve Cloud Mobility, where all forms of mobility are connected through software on the cloud, and continuously evolve over time. Pleos serves to create a connected mobility experience expanding from a vehicle to fleets, hardware to software, and ultimately to the entire mobility infrastructure and cities." Pleos is a mobility software platform that supports all devices in motion to move autonomously and be managed smartly. It connects transportation and infrastructure, including vehicles, to help users, businesses and cities establish a freer, more efficient mobility environment. Pleos is a compound word combining the Greek word 'Pleo', meaning 'more', and 'OS' for 'Operating System'. It embodies the Group's commitment to evolving technology, adding user-centric value to the movement of people and objects to achieve increased freedom to move. To achieve a software-centered mobility environment, the Group is advancing towards SDVs through innovations in electrical and electronic (E&E) architecture, alongside the development of the Group's own vehicle OS and Pleos Connect. These advancements enable vehicles to serve as efficient and flexible software platforms, strengthening connectivity between vehicles and infrastructure. Through its software-defined everything (SDx) strategy, the Group plans to continuously connect all mobility solutions, services and devices, allowing everyone to universally enjoy the freedom to move. SOURCE Hyundai Motor Group Sign in to access your portfolio
Yahoo
07-03-2025
- Business
- Yahoo
Pleasing Signs As A Number Of Insiders Buy Metrofile Holdings Stock
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Metrofile Holdings Limited's (JSE:MFL) case, it's fantastic news for shareholders. While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, logic dictates you should pay some attention to whether insiders are buying or selling shares. See our latest analysis for Metrofile Holdings The Group CEO & Independent Non-Executive Director Thabo Stanley Seopa made the biggest insider purchase in the last 12 months. That single transaction was for R1.8m worth of shares at a price of R2.22 each. That means that even when the share price was higher than R1.50 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels. While Metrofile Holdings insiders bought shares during the last year, they didn't sell. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction! There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them). I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Our information indicates that Metrofile Holdings insiders own about R2.4m worth of shares. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. This level of insider ownership is notably low, and not very encouraging. It doesn't really mean much that no insider has traded Metrofile Holdings shares in the last quarter. However, our analysis of transactions over the last year is heartening. While we have no worries about the insider transactions, we'd be more comfortable if they owned more Metrofile Holdings stock. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Metrofile Holdings. For instance, we've identified 4 warning signs for Metrofile Holdings (2 shouldn't be ignored) you should be aware of. Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies. For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
The Guardian
04-03-2025
- Entertainment
- The Guardian
Memories of a Catholic Girlhood by Mary McCarthy review – incurable sadness if bravely borne
Mary McCarthy was a formidable, not to say frightening, figure in the literary landscape of mid-20th-century America, one of a cohort of remarkable left-leaning intellectuals that included Elizabeth Hardwick, Dwight Macdonald, Randall Jarrell and McCarthy's lifelong friend Hannah Arendt. The famous feud between McCarthy and the playwright Lillian Hellman – 'every word Hellman writes is a lie, including 'and' and 'the'' – led to a $2.5m libel suit brought by Hellman but which in the end damaged her own reputation beyond repair. McCarthy was already an established critic and fiction writer when, in 1963, she published The Group, the novel that was to bring her huge popular success. It is an account of the lives of a set of young women in postwar New York and, for its time, was frank to the point of being scandalous. Anyone reading it now will wonder what the fuss was about, given its bloodless psychologising and wooden prose. It could be argued that her finest book is Memories of a Catholic Girlhood, first published in 1957 and now reissued in a handsome paperback by Fitzcarraldo Editions. Much of the material had already appeared as autobiographical essays in the New Yorker, and in her preface here she expresses surprise that 'some readers… have taken them for stories'. This is somewhat disingenuous, since at the end of each of the eight sections of the book she examines her conscience, as a good Catholic girl should, and confesses to the parts of the preceding narrative that are 'made up'. She was born in Seattle in 1912, the inheritor of a 'salad of genes', as Nabokov would say, from her Irish Catholic, New England Protestant and California Jewish forebears. Both her parents died in the great influenza epidemic of 1918. Mary and her three brothers, including the future movie actor Kevin McCarthy, lived for a time with their father's Irish Catholic parents, a markedly unfeeling couple. Some of the most biting passages in the book deal with the grandmother: 'An aggressive churchgoer, she was quite without Christian feeling: the mercy of the Lord Jesus had never entered her heart.' Worse was to come, however, when the children were handed over to an aunt and uncle, a monstrous pair who made their lives a living hell. Among the many torments inflicted upon them was 'the adhesive tape that, to prevent mouth-breathing, was clapped upon our lips… sealing us up for the night, and that was removed, very painfully, with the help of ether, in the morning'. It should be noted that the ether was employed not as an anaesthetic, but as a lubricant, which left on the lips 'a grimy, grey, rubbery remainder'. McCarthy was grateful for her Catholic upbringing, particularly her convent education; as a Catholic, she notes, 'you have absorbed a good deal of world history and the history of ideas before you are twelve'. Later, she abandoned religion and became a sort of agnostic. She is disdainful of the squalid bargaining the church encourages: 'If the kind of God exists who would damn me for not working out a deal with Him… I should not care to spend eternity in the company of such a person.' Matters improved when the children's maternal grandfather listened to their tale of woe and set himself to rescuing them. The price, however, was the final break-up of the family: Mary went to live with Grandfather Preston, while the three boys were sent elsewhere. The four did not meet again until they were adults. Colm Tóibín, in his sympathetic and subtle introduction, notes the similarities between Mary McCarthy and the poet Elizabeth Bishop, both of whom grew up parentless, and used their orphanhood as literary material. Yet the biographies of both women bespeak an incurable sadness and a sense of damage, however bravely borne. McCarthy was the sprightlier and more feisty of the two, and in Memories of a Catholic Girlhood she made a small, or perhaps more than small, masterpiece. Sign up to Observed Analysis and opinion on the week's news and culture brought to you by the best Observer writers after newsletter promotion Memories of a Catholic Girlhood by Mary McCarthy is published by Fitzcarraldo Editions (£14.99). To support the Guardian and Observer order your copy at Delivery charges may apply
Zawya
17-02-2025
- Business
- Zawya
EMSTEEL announces comprehensive decarbonization strategy, aligned with the UAE's net-zero by 2050 strategic initiative
Abu Dhabi, UAE: EMSTEEL ('The Group', one of the GCC region's largest publicly traded steel and building materials manufacturers, today unveiled its ambitious decarbonization strategy. The company aims to achieve a 40% reduction in absolute greenhouse gas (GHG) emissions in its Steel Business Unit and a 30% reduction in its Cement Business Unit by 2030, using 2019 as the baseline year, with the ultimate goal of reaching net-zero emissions by 2050. This strategy underscores EMSTEEL's commitment to sustainable manufacturing and aligns with the UAE's Net Zero by 2050 Strategic Initiative, the UAE's Nationally Determined Contribution (NDC 3.0), and the Paris Agreement. EMSTEEL is dedicated to driving industrial decarbonization in line with the UAE's goal of a 27% reduction in industrial emissions by 2035 from 2019 levels. To achieve a significant reduction in its CO₂ footprint, the Group will focus on implementing key decarbonization strategies, including enhancing energy efficiency, incorporating advanced process optimization technologies and utilizing alternative fuels and raw materials in steel and cement production. Additionally, it is also expected to accelerate the use of clean and renewable energy to cover 100% of electricity demand by 2030. Engineer Saeed Ghumran Al Remeithi, Group CEO – EMSTEEL, said: 'EMSTEEL is committed to leading the transformation of the construction and manufacturing sectors through sustainable practices. Our decarbonization strategy not only aligns with the UAE's Net Zero 2050 goals, but also positions EMSTEEL as a global leader in low-carbon steel and cement production. Through innovation, investment, and collaboration, we are building a more sustainable future for our industry and our planet.' The steel and cement industries are among the most carbon-intensive sectors globally, generating a substantial share of GHG emissions. Acknowledging both the challenges and the significant social and economic benefits of successful decarbonization, EMSTEEL is committed to significantly reduce its Scope 1 and Scope 2 emissions in the coming years. The Group has already made substantial progress in reducing Scope 1 and Scope 2 emissions, as well as emissions intensity during 2019 and 2023. As of 2023 EMSTEEL's total Scope 1 and 2 emissions stood at 4.5 million tonnes of CO₂, which is 23% below the baseline year of 2019. The above achievements have been driven by advancements in energy efficiency, the implementation of carbon capture technologies, and the integration of clean and renewable energy solutions. Additionally, the Group continues pioneering critical decarbonization technologies and has recently launched a groundbreaking pilot green hydrogen project—the first of its kind in the Middle East and North Africa—in collaboration with Masdar. This initiative leverages green hydrogen to extract iron from iron ore, marking a significant milestone in the region's journey toward sustainable steel production. In September 2024, the EMSTEEL was appointed as Co-Chair of the Alliance for Industry Decarbonisation (AFID) led by the International Renewable Energy Agency (IRENA). EMSTEEL was also recognised as the 2024 Steel Sustainability Champion by the World Steel Association for its pioneering efforts in decarbonising steel production. The World Economic Forum recognised EMSTEEL for its outstanding efforts in decarbonising the iron and steel industry, placing it among the top five leading steel companies worldwide that have received this recognition. Finally, at the 'Make it in the Emirates Awards 2024', the Group's contributions to the UAE's industrial sector were recognised with the Best Sustainable Manufacturing Award and the ICV Excellence Award. About EMSTEEL EMSTEEL is a public joint stock company (ADX: EMSTEEL) and the UAE's largest steel and building materials manufacturer. The Group leverages cutting-edge technologies to supply both the local market and over 70 international markets with high-quality finished products, creating a one-stop shop for the manufacturing and construction sectors. EMSTEEL is committed to contributing to the UAE's industrial strategy 'Operation 300 billion' by delivering market-leading products to support local industries, creating job opportunities for UAE Nationals, and enhancing its sustainable practices. The Group is a global leader in low-carbon steel production and is aligned with the UAE's Net Zero by 2050 Strategic Initiative. Headquartered in Abu Dhabi, EMSTEEL operates 16 state-of-the-art plants, with a production capacity of 3.5 million tonnes of steel and 4.6 million tonnes of cement annually, fueling the nation's most iconic projects. EMSTEEL is majority owned by ADQ, one of the region's largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi's diversified economy. For more information, please visit our website:
