US and Saudi tanks take part in a military exercise near Amman in 2022. AFP
US and Saudi tanks take part in a military exercise near Amman in 2022. AFP
US and Saudi tanks take part in a military exercise near Amman in 2022. AFP
US and Saudi tanks take part in a military exercise near Amman in 2022. AFP

US to lift suspension on certain weapons transfers to Saudi Arabia


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US President Joe Biden's administration has decided to lift the suspension of certain weapons transfers to Saudi Arabia, the State Department confirmed on Friday, reversing a three-year-old policy.

“The department is lifting its suspension on certain transfers of air-to-ground munitions to Saudi Arabia,” a State Department representative told The National, adding that new transfers would be considered on a case-by-case basis.

“This suspension was imposed in early 2021 following the administration’s announcement that it was ending support for offensive operations in the conflict in Yemen, including relevant US arms transfers.”

The Biden administration briefed Congress this week on its decision to lift the ban, a congressional aide told Reuters, which first reported the news.

“We take this action on the basis of continued Saudi adherence to the conditions of the April 2022 truce in Yemen, despite its formal expiration after six months,” the State Department representative said.

“Saudi Arabia has also been a key partner in seeking a durable resolution to the conflict in Yemen.”

Reuters cited a senior Biden administration official as saying that “the Saudis have met their end of the deal, and we are prepared to meet ours, returning these cases to regular order through appropriate congressional notification and consultation”.

Under US law, major international weapons deals must be reviewed by Congress before they are made final.

The decision comes amid heightened tension in the Middle East amid the war in Gaza. The threat level in the region has been rising since late last month, with Iran and Lebanon's Hezbollah vowing to retaliate against Israel after Hamas's political chief Ismail Haniyeh was killed in Tehran.

The Biden administration also has been negotiating a defence pact and an agreement for civil nuclear co-operation with Riyadh as part of a broad deal that envisions Saudi Arabia normalising ties with Israel – although that remains an elusive goal.

"Saudi Arabia remains a critical security partner for the United States, particularly at a time of high regional instability," the State Department representative said.

Yemen was plunged into civil war in late 2014, with the Iranian-backed Houthi rebels seizing the capital Sanaa and ousting its internationally recognised government, which a Saudi-led military alliance moved to defend.

A UN-brokered ceasefire in 2022 has officially expired but the fighting has remained minimal amid ongoing negotiations. But since the beginning of the Israel-Gaza war, the Houthis have targeted international shipping lanes, attacking or capturing a number of vessels.

“We are regularly conducting air strikes to degrade Houthi capabilities, an effort that is continuing and will continue together with a coalition of partners,” the senior US administration official said.

“We have designated the Houthis as Specially Designated Global Terrorists, and we will have imposed sanctions and additional costs on the Houthi smuggling networks and military apparatus. This pressure will continue to build over the coming weeks.”

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
The specs: 2019 Lincoln MKC

Price, base / as tested: Dh169,995 / Dh192,045

Engine: Turbocharged, 2.0-litre, in-line four-cylinder

Transmission: Six-speed automatic

Power: 253hp @ 5,500rpm

Torque: 389Nm @ 2,500rpm

Fuel economy, combined: 10.7L / 100km

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
UAE central contracts

Full time contracts

Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid

Part time contracts

Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma

Paatal Lok season two

Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

PREMIER LEAGUE FIXTURES

Saturday (UAE kick-off times)

Watford v Leicester City (3.30pm)

Brighton v Arsenal (6pm)

West Ham v Wolves (8.30pm)

Bournemouth v Crystal Palace (10.45pm)

Sunday

Newcastle United v Sheffield United (5pm)

Aston Villa v Chelsea (7.15pm)

Everton v Liverpool (10pm)

Monday

Manchester City v Burnley (11pm)

MATCH INFO

What: Brazil v South Korea
When: Tonight, 5.30pm
Where: Mohamed bin Zayed Stadium, Abu Dhabi
Tickets: www.ticketmaster.ae

Ant-Man and the Wasp

Director: Peyton Reed

Starring: Paul Rudd, Evangeline Lilly, Michael Douglas

Three stars

Sole survivors
  • Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
  • George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
  • Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
  • Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
UAE’s revised Cricket World Cup League Two schedule

August, 2021: Host - United States; Teams - UAE, United States and Scotland

Between September and November, 2021 (dates TBC): Host - Namibia; Teams - Namibia, Oman, UAE

December, 2021: Host - UAE; Teams - UAE, Namibia, Oman

February, 2022: Hosts - Nepal; Teams - UAE, Nepal, PNG

June, 2022: Hosts - Scotland; Teams - UAE, United States, Scotland

September, 2022: Hosts - PNG; Teams - UAE, PNG, Nepal

February, 2023: Hosts - UAE; Teams - UAE, PNG, Nepal

Richard Jewell

Director: Clint Eastwood

Stars: Paul Walter Hauser, Sam Rockwell, Brandon Stanley

Two-and-a-half out of five stars 

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal 

Rating: 2/5

COMPANY%20PROFILE
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Points Classification after Stage 1

1. Geraint Thomas (Britain / Team Sky) 20

2. Stefan Kueng (Switzerland / BMC Racing) 17

3. Vasil Kiryienka (Belarus / Team Sky) 15

4. Tony Martin (Germany / Katusha) 13

5. Matteo Trentin (Italy / Quick-Step) 11

6. Chris Froome (Britain / Team Sky) 10

7. Jos van Emden (Netherlands / LottoNL) 9

8. Michal Kwiatkowski (Poland / Team Sky) 8

9. Marcel Kittel (Germany / Quick-Step) 7

10. Edvald Boasson Hagen (Norway / Dimension Data) 6

What are the GCSE grade equivalents?
 
  • Grade 9 = above an A*
  • Grade 8 = between grades A* and A
  • Grade 7 = grade A
  • Grade 6 = just above a grade B
  • Grade 5 = between grades B and C
  • Grade 4 = grade C
  • Grade 3 = between grades D and E
  • Grade 2 = between grades E and F
  • Grade 1 = between grades F and G
Updated: August 10, 2024, 4:44 AM