Live updates: follow the latest news on Joe Biden's Middle East visit
US President Joe Biden and Israeli Prime Minister Yair Lapid on Thursday signed a pledge to prevent Iran from developing nuclear weapons, including by force if needed.
Standing on matching lecterns with US and Israeli flags waving on twin LED screens in the basement of the Waldorf Astoria, Mr Biden vowed to protect Israel and deepen military co-operation as part of a new "Jerusalem Declaration" one day after telling local media that a "last resort" use of force against Iran was on the table.
"We will not allow Iran to acquire a nuclear weapon," Mr Biden told a news conference following the signing of the declaration that stated that the US was "prepared to use all elements of its national power to ensure that outcome."
Mr Biden said he was seeking to deepen the Obama administration's record $38 billion, 10-year commitment to Israeli security with new collaboration on defence projects such as laser interceptors.
“We will make sure Israel can defend itself by itself.”
The US leader spoke at length of his country's long and close relationship with Israel and said: "We're here to stay. Like it or not, we're here."
Hours after the press conference on Thursday, Iran's President Ebrahim Raisi said his country would have a "harsh and regrettable" response to any mistake from Washington and its allies.
While indirect talks between the US and Iran remain at loggerheads, Mr Biden once again said he hoped Iran would agree to a new pact and that diplomacy was the best way to ensure Iran didn't make nuclear weapons. Iran denies its enrichment of uranium is in pursuit of a warhead.
"We’ve laid out for the leadership of Iran what we’re willing to accept to get back into the JCPOA [Joint Comprehensive Plan of Action]," Mr Biden said. "We’re waiting for their response. When that will occur, when that will happen, I’m not sure But we are not going to wait forever."
US officials have warned that if Iran fails to agree to a deal then more sanctions and other curbs would be announced.
Mr Lapid, whose country has long said it retains the right to decide how it chooses to respond to the Iranian threat, said "the only thing that can stop Iran is knowing the free world will use force to stop them."
In an interview with Israel's Channel 12, broadcast on Wednesday evening, the US leader said he was prepared to use force as a “last resort” against Iran.
The US also promised to work with other partners in the region “to confront Iran’s aggression and destabilising activities”.
On Friday, Mr Biden heads to Saudi Arabia, which has its own concerns about Iran's regional activity, and he will also meet with leaders of GCC states as well as Iraq, Jordan and Egypt to discuss matters of regional security and energy. Mr Lapid described the US president's next leg of his regional tour as "extremely important to Israel."
Mr Biden said that the visit to Saudi Arabia was an opportunity for the US to reassert its influence in the region. "We made a mistake of walking away from our influence in the Middle East," he said.
Mr Biden is on his first trip to the Middle East since taking office in January 2020. He is expected to travel to the occupied West Bank on Friday to meet Palestinian Authority President Mahmoud Abbas before going to Saudi Arabia.
The president once again stated his belief that a two-state solution was the only way to ensure “a reality in which Israelis and Palestinians alike can enjoy equal measures of security, freedom and prosperity”. However, there is not expected to be any progress on the matter during the visit.
The president, who has come under scrutiny from the US media for travelling to Saudi Arabia after publically criticising the kingdom, said the trip was an opportunity to reassert the US in the region and counter the influence of China and Russia.
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Director: James Cameron
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Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
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
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German intelligence warnings
- 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
- 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
- 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250
Source: Federal Office for the Protection of the Constitution
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Favourite films: Casablanca and Lawrence of Arabia
Favourite books: Start with Why by Simon Sinek and Good to be Great by Jim Collins
Favourite dish: Grilled fish
Inspiration: Sheikh Zayed's visionary leadership taught me to embrace new challenges.
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.”
Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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