Iran's army Commander-in-Chief, Abdolrahim Mousavi, left, and Defence Minister Aziz Nasirzadeh, inspecting drones in Tehran on January 13. EPA
Iran's army Commander-in-Chief, Abdolrahim Mousavi, left, and Defence Minister Aziz Nasirzadeh, inspecting drones in Tehran on January 13. EPA
Iran's army Commander-in-Chief, Abdolrahim Mousavi, left, and Defence Minister Aziz Nasirzadeh, inspecting drones in Tehran on January 13. EPA
Iran's army Commander-in-Chief, Abdolrahim Mousavi, left, and Defence Minister Aziz Nasirzadeh, inspecting drones in Tehran on January 13. EPA

US takes aim at Iran’s drone and missile programmes in latest round of sanctions


Willy Lowry
  • English
  • Arabic

The US issued sanctions on Wednesday against six entities connected to Iran’s drone and ballistic missile programmes, as President Donald Trump's administration continues its maximum pressure campaign against Tehran.

The State Department said the action – which affects companies based in Hong Kong and mainland China – “aims to disrupt efforts" by Iranian company Pishtazan Kavosh Gostar Boshra to continue obtaining critical parts from foreign suppliers.

“The United States will use all available means to expose and disrupt Iran’s growing UAV [unmanned aerial vehicle] and missile development and proliferation, which destabilises the Middle East and beyond,” State Department spokeswoman Tammy Bruce said.

This week, the State and Treasury departments levied sanctions against more than 30 people and entities connected to Iran’s petroleum and petrochemicals industries, in an effort to bring the country's oil exports to zero.

Mr Trump signed a memorandum on February 4 returning the US to the stance he took in his first term, directing the Treasury Department to impose “maximum economic pressure” to try to prevent Iran from developing a nuclear weapon.

He has long viewed Iran as threat to stability in the Middle East. During his first term, he withdrew from the Joint Comprehensive Plan of Action, an international agreement that traded sanctions relief for limits on Iran's nuclear programme.

MATCH INFO

Uefa Champions League quarter-final (first-leg score):

Juventus (1) v Ajax (1), Tuesday, 11pm UAE

Match will be shown on BeIN Sports

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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Farasan Boat: 128km Away from Anchorage

Director: Mowaffaq Alobaid 

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Rating: 4/5

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Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

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4.15pm: Italy v Spain (Group A)
5.30pm: Egypt v Mexico (Group B)
6.45pm: UAE v Japan (Group A)
8pm: Iran v Russia (Group B)

The specs
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Transmission: 8-speed dual-clutch auto

Fuel consumption: 10.4L/100km

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Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
Bio

Age: 25

Town: Al Diqdaqah – Ras Al Khaimah

Education: Bachelors degree in mechanical engineering

Favourite colour: White

Favourite place in the UAE: Downtown Dubai

Favourite book: A Life in Administration by Ghazi Al Gosaibi.

First owned baking book: How to Be a Domestic Goddess by Nigella Lawson.

Movie: Saheb, Biwi aur Gangster 3

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Cast: Sanjay Dutt, Jimmy Sheirgill, Mahie Gill, Chitrangda Singh, Kabir Bedi

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The%20specs
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Key changes

Commission caps

For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:

• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term). 

• On the protection component, there is a cap  of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).

• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated. 

• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.

• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.

Disclosure

Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.

“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”

Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.

Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.

“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.

Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.

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Telephone:  971 50 220 0326

 

ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

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Rating: 4/5

RESULTS

1.45pm: Maiden Dh75,000 1,400m
Winner: Dirilis Ertugrul, Fabrice Veron (jockey), Ismail Mohammed (trainer)
2.15pm: Handicap Dh90,000 1,400m
Winner: Kidd Malibu, Sandro Paiva, Musabah Al Muhairi
2.45pm: Maiden Dh75,000 1,000m
Winner: Raakezz, Tadhg O’Shea, Nicholas Bachalard
3.15pm: Handicap Dh105,000 1,200m
Winner: Au Couer, Sean Kirrane, Satish Seemar
3.45pm: Maiden Dh75,000 1,600m
Winner: Rayig, Pat Dobbs, Doug Watson
4.15pm: Handicap Dh105,000 1,600m
Winner: Chiefdom, Royston Ffrench, Salem bin Ghadayer
4.45pm: Handicap Dh80,000 1,800m
Winner: King’s Shadow, Richard Mullen, Satish Seemar

Updated: February 26, 2025, 9:28 PM`