Before 1979: Ties between the states were established in 1929, but relations were strained over differences matters including Iran’s recognition of Israel.
1979: Iran’s revolution established a theocratic republic, which caused tensions with Saudi Arabia as the new leadership criticised the kingdom.
1980s: With Saudi Arabia supporting Baghdad in the Iran-Iraq War, the relationship reached its nadir but the countries kept official channels open.
1987: On July 31, Iranian-led demonstrators were involved in dealy violence with Saudi security forces during Hajj. In response, crowds attacked the Saudi embassy in Tehran, leading Riyadh to cut the number of Iranians permitted to undertake the pilgrimage and sever ties fully in April 1988. Iran did not permit citizens to take part in Hajj for three years.
1989: Towards the end of the Iran-Iraq War, King Fahd urged Iraq to accept the UN Security Council resolution to impose a ceasefire and in 1989, Iranian president Hashemi Rafsanjani announced that indirect talks were being held with Riyadh to improve relations.
1991: Iran and Saudi Arabia condemned Iraq’s invasion of Kuwait, improving relations, which were officially restored in 1991. Saudi authorities allowed 115,000 Iranians to attend Hajj that year and invited 5,000 relatives of those killed in the 1987 violence.
Saudi Arabia welcomed the US-led opposition to Iraq’s invasion of Kuwait, while Iran was neutral.
1996: On June 23, a lorry bomb outside the US barracks in Dhahran, Saudi Arabia, killed 19 soldiers and hurt hundreds. The US blamed Iran, but Saudi Arabia did not openly do so.
1997: Saudi Arabia’s then Crown Prince Abdullah bin Abdulaziz and foreign minister Prince Saud bin Faisal attend the Organisation of Islamic Co-operation, helping to improve ties.
1998: Iranian President Mohammad Khatami visited Saudi Arabia, marking the first presidential-level visit between the two countries.
1999: Spurred by Opec co-operation, ties improved further under Mr Khatami, who again visited Saudi Arabia and stayed five days, with the sides discussing economic, security and cultural matters. The meetings helped pave the way for the 2001 Saudi-Iranian security agreement. King Fahd urged other Gulf states to improve relations with Iran and said it was in the interest of the region that ties were strong.
2011: Washington accused Iran of trying to assassinate US envoy and later foreign minister Adel Al Jubeir.
2011: Iran and Saudi Arabia backed different sides in Syria’s growing civil war and in various movements that formed the Arab uprisings.
2012: In response to international sanctions on Iran over nuclear enrichment, the kingdom offered to offset lost oil supplies by increasing output.
2015: When two Iranian teenage pilgrims undertaking Hajj accused Saudi police of harassment, 80 Iranian MPs presented a bill to the government demanding action and hundreds demonstrated in Iran. Saudi foreign minister Prince Saud bin Faisal said the government would act and the Interior Ministry announced the accused had been fired and referred to court.
2015: A crush during Hajj led to the deaths of hundreds of worshippers and left hundreds more injured, many of them Iranian. Saudi officials called for a ban on Iranians.
2015: With the Houthi rebels taking over large parts of Yemen, Saudi Arabia intervened at the request of the internationally recognised government. The Saudi government and other regional powers accused Iran of supporting the rebels with rockets and arms. As the conflict deepened, Houthis attacked border points and sent drones to the kingdom.
2016: Iran refused to allow citizens to take part in Hajj following the crush the previous year and tensions flared over quotas.
2016: Saudi Arabia executed Shiite cleric Nimr Al Nmr after he was convicted of seeking foreign meddling in the kingdom and attempting to take up arms against the state. The execution sparked mass protests in Iran and an attack on the Saudi embassy in Tehran. Riyadh to cut ties.
2018: When the US withdrew from the Joint Comprehensive Plan of Action, Saudi Arabia welcomed the decision to withdraw while Iran criticised it.
2019: Iran-backed Houthis claimed responsibility for a drone attack on Saudi oil facilities that caused major damage and threatened global supplies. Some experts suggested Iran was responsible. The incident led to heightened tensions.
2021: Iran and Saudi Arabia held their first direct talks since the execution of Al Nimr. Hosted by Iraq, neither country confirmed the talks, which were reported to have focused on the conflict in Yemen and the crisis in Lebanon. Four rounds of talks would be held between April and September.
Tehran later said it “welcomed dialogue” with Riyadh but did not confirm that direct talks had occurred. Saudi Foreign Minister Prince Faisal bin Farhan visited Oman amid reports that Muscat was seeking to host Saudi-Iranian talks too.
2022: Iran pulled out of talks ahead of a planned fifth round without giving a reason, a day after mass executions in Saudi Arabia that activists said included 41 Shiites. Iraq's then-caretaker Prime Minister Mustafa Al Kadhimi attempted to restart the dialogue with a visit to Saudi Arabia and then Iran, but there is no subsequent news of further negotiations. His successor, Mohammed Shia Al Sudani, visited Iran and was reported to have raised the issue of resuming talks with Saudi Arabia.
2023: Saudi Arabia and Iran announced in Beijing that they would fully restore diplomatic relations within two months, following talks in China's capital that began on March 6. Weeks later, Saudi Arabia and Iran agreed to resume flights at the first meeting between the kingdom's Foreign Minister Prince Faisal bin Farhan and his Iranian counterpart Hossein Amirabdollahian in China since the announcement of resuming ties.
COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
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Oppenheimer
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Profile of Udrive
Date started: March 2016
Founder: Hasib Khan
Based: Dubai
Employees: 40
Amount raised (to date): $3.25m – $750,000 seed funding in 2017 and a Seed round of $2.5m last year. Raised $1.3m from Eureeca investors in January 2021 as part of a Series A round with a $5m target.
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
MATCH INFO
Schalke 0
Werder Bremen 1 (Bittencourt 32')
Man of the match Leonardo Bittencourt (Werder Bremen)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
The specs: 2018 BMW R nineT Scrambler
Price, base / as tested Dh57,000
Engine 1,170cc air/oil-cooled flat twin four-stroke engine
Transmission Six-speed gearbox
Power 110hp) @ 7,750rpm
Torque 116Nm @ 6,000rpm
Fuel economy, combined 5.3L / 100km
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The specs
Engine: 2.0-litre turbo 4-cyl
Transmission: eight-speed auto
Power: 190bhp
Torque: 300Nm
Price: Dh169,900
On sale: now
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Background: Chemical Weapons
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
Stamp%20duty%20timeline
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The specs
Engine: 5.2-litre V10
Power: 640hp at 8,000rpm
Torque: 565Nm at 6,500rpm
Transmission: 7-speed dual-clutch auto
Price: From Dh1 million
On sale: Q3 or Q4 2022
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
What went into the film
25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
New sound technology, named 4D SRL
'How To Build A Boat'
Jonathan Gornall, Simon & Schuster
INDIA SQUAD
Rohit Sharma (captain), Shikhar Dhawan (vice-captain), KL Rahul, Suresh Raina, Manish Pandey, Dinesh Karthik (wicketkeeper), Deepak Hooda, Washington Sundar, Yuzvendra Chahal, Axar Patel, Vijay Shankar, Shardul Thakur, Jaydev Unadkat, Mohammad Siraj and Rishabh Pant (wicketkeeper)
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Kandahar%20
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GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Evacuations to France hit by controversy
- Over 500 Gazans have been evacuated to France since November 2023
- Evacuations were paused after a student already in France posted anti-Semitic content and was subsequently expelled to Qatar
- The Foreign Ministry launched a review to determine how authorities failed to detect the posts before her entry
- Artists and researchers fall under a programme called Pause that began in 2017
- It has benefited more than 700 people from 44 countries, including Syria, Turkey, Iran, and Sudan
- Since the start of the Gaza war, it has also included 45 Gazan beneficiaries
- Unlike students, they are allowed to bring their families to France
88 Video's most popular rentals
Avengers 3: Infinity War: an American superhero film released in 2018 and based on the Marvel Comics story.
Sholay: a 1975 Indian action-adventure film. It follows the adventures of two criminals hired by police to catch a vagabond. The film was panned on release but is now considered a classic.
Lucifer: is a 2019 Malayalam-language action film. It dives into the gritty world of Kerala’s politics and has become one of the highest-grossing Malayalam films of all time.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Company Fact Box
Company name/date started: Abwaab Technologies / September 2019
Founders: Hamdi Tabbaa, co-founder and CEO. Hussein Alsarabi, co-founder and CTO
Based: Amman, Jordan
Sector: Education Technology
Size (employees/revenue): Total team size: 65. Full-time employees: 25. Revenue undisclosed
Stage: early-stage startup
Investors: Adam Tech Ventures, Endure Capital, Equitrust, the World Bank-backed Innovative Startups SMEs Fund, a London investment fund, a number of former and current executives from Uber and Netflix, among others.
