Saudi Arabia's Foreign Minister Prince Saud Al Faisal delivers a speech during a ceremony in Vienna in October. Saudi Arabia will hold Iran accountable for any hostile actions, the prince said on Thursday.
Saudi Arabia's Foreign Minister Prince Saud Al Faisal delivers a speech during a ceremony in Vienna in October. Saudi Arabia will hold Iran accountable for any hostile actions, the prince said on ThurShow more

Obama: US can prove Iranian assassination plot is true



US officials acknowledge the alleged plot by Iran to assassinate Saudi Arabia's top diplomat in Washington sounds like a far-fetched Hollywood script, but insist it is a case of truth being stranger than fiction.

Many Western experts on Iran remain sceptical, however. They say Washington has yet to explain Tehran's motive for hatching such an inflammatory plot that, if successful, would have brought dire retribution.

"I'm doubtful about this because it doesn't fit with Iran's modus operandi or its foreign policy," a European former ambassador to Iran, said. "Why would Iran take such a high-level risk in killing a Saudi when that would simply drive up tensions in the region," the envoy, who requested anonymity, said in a telephone interview.

"And above all, why do it in America, thus exacerbating the problems Iran already has with a virulent enemy?"

But last night, US President Barack Obama said the US can support all the allegations of an alleged assassination plot against a Saudi Arabian diplomat and show the world that it was reckless behaviour on the part of the Iranian government. There will not be a dispute over what happened, Mr Obama told a White House news conference. Two men, including a member of Iran's Quds Force special foreign actions unit, were charged in New York federal court with conspiring to kill the Saudi ambassador to Washington. People in the Iranian government "were aware of this plot," Mr Obama said. "There has to be accountability." He said that one of the suspects was an individual of Iranian-American descent who had "direct links" to Tehran and was paid by Iran.

Iran is accused of planning to kill Saudi's US ambassador, Adel Al Jubeir, in a Washington restaurant, using a dodgy Iranian-American former used car dealer and a Mexican drugs cartel. Tehran yesterday rejected the charges as a "pathetic and conspiratorial US fabrication".

Unanswered is why Iran's sophisticated Quds force, which allegedly planned Mr Al Jubeir's murder, would use an Iranian-American with a reported criminal record for what would have been its boldest ever operation.

Why, too, would the Quds force believe that a Mexican drug cartel would be prepared to carry out a bomb attack in Washington? And given that the US has warned it is holding Iran accountable, what evidence is there that orders for the elaborate, alleged plot came directly from the upper echelons of the Iranian regime?

Those less sceptical of Washington's intentions ask in turn why the Obama administration would want to fabricate such accusations against Iran.

The Quds force is the 5,000-strong external operations unit of Iran's 150,000-member Republican Guard. Al Quds means Jerusalem in Arabic.

The secretive force has long been operational in Lebanon and, more recently, is said to be active in Syria, Iraq and Afghanistan. But a venture on US soil would be a first.

Iran has not carried out a political murder in the US since 1980 when an African-American convert to Islam, Daoud Salahuddin, killed the former press attaché at the Iranian embassy in a Washington suburb. The assassin was understood to have operated on his own initiative, although Iran gave him sanctuary.

Robert Baer, a former CIA agent, expressed his doubts about the alleged plot against Mr Al Jubeir in blunt terms. "This stinks to holy hell. The Quds force are very good. They don't sit down with people they don't know and make a plot," he told The Guardian.

The assassination plot suspects are Manssuor Arbabsiar, 56, arrested on September 29 in New York, and Gholam Shakuri, said to be a member of the Quds force.

Gary Sick, a scholar at the Middle East Institute at Columbia University in New York, found the plot allegations "very hard to believe". If true, the plot "departs from all known Iranian policies and procedures," Mr Sick, who monitored Iran for the US National Security Council during the 1979 Iranian revolution, wrote on his blog.

"Perhaps this operation is just as it appears," he added. "But at a minimum, both the [US] public and the Congress should demand more evidence before taking any rash or irreversible action."

US officials attempted to answer the sceptics' questions in off-the-record briefings to leading American media yesterday. Unnamed law enforcement officers attributed the amateurish nature of the plot to Iran's relative inexperience in carrying out covert operations in the US and Mexico.

They argued that a Mexican drug cartel would give Iran "deniability" while serving as a useful proxy in the US where the Iranians do not have an infrastructure. And, they added, the Iranian regime is under pressure at home and abroad, leading it to engage in riskier behaviour.

The officials said they believed Iran hoped the attack would be blamed on Al Qaeda.

Even if the US charges are true, analysts in Iran doubted that President Mahmoud Ahmadinejad knew of the plot, given that the Revolutionary Guard has withdrawn its support for him. The force has sided with his hardline clerical opponents in a bitter and protracted power struggle.

Among other things, opponents of the populist president accuse him of wanting to mend ties with the US because he knows it would go down well with Iran's young electorate. This has led to suspicions that the outlandish assassination plot was orchestrated by the Revolutionary Guard to torpedo any possible covert attempt by Mr Ahmadinejad to mend ties with the "Great Satan" America. Under that scenario, the plot was meant to be discovered by US intelligence.

The Quds Force and Revolutionary Guard are loyal to Iran's supreme leader, Ayatollah Ali Khamenei, who, despite his lurid anti-American rhetoric, is a cautious pragmatist. He knows his regime cannot afford a war against the US. It is also unlikely he would back any action that could see Iran slapped with new economic sanctions, Iran experts said.

For those reasons, some in Tehran speculate that the assassination plot, if genuine, may have been engineered by elements in the Iranian regime who wanted to hurt the ayatollah.

But the European former ambassador to Iran said it was "nonsense" to suggest that the risky plot had anything to do with the antagonism between Mr Ahmadinejad and Iran's supreme leader.

mtheodoulou@thenational.ae

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Starring: Adwa Bader, Yazeed Almajyul, Khalid Bin Shaddad

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Engine: 3.0-litre twin-turbo V6 and electric motor
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SPECS: Polestar 3

Engine: Long-range dual motor with 400V battery
Power: 360kW / 483bhp
Torque: 840Nm
Transmission: Single-speed automatic
Max touring range: 628km
0-100km/h: 4.7sec
Top speed: 210kph
Price: From Dh360,000
On sale: September

COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

Company Profile

Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000

COMPANY PROFILE

Company name: Klipit

Started: 2022

Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant

Based: Dubai, UAE

Industry: Digital receipts, finance, blockchain

Funding: $4 million

Investors: Privately/self-funded

Our family matters legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Aayan’s records

Youngest UAE men’s cricketer
When he debuted against Bangladesh aged 16 years and 314 days, he became the youngest ever to play for the men’s senior team. He broke the record set by his World Cup squad-mate, Alishan Sharafu, of 17 years and 44 days.

Youngest wicket-taker
After taking the wicket of Bangladesh’s Litton Das on debut in Dubai, Aayan became the youngest male cricketer to take a wicket against a Full Member nation in a T20 international.

Youngest in T20 World Cup history?
Aayan does not turn 17 until November 15 – which is two days after the T20 World Cup final at the MCG. If he does play in the competition, he will be its youngest ever player. Pakistan’s Mohammed Amir, who was 17 years and 55 days when he played in 2009, currently holds the record.

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
How Tesla’s price correction has hit fund managers

Investing in disruptive technology can be a bumpy ride, as investors in Tesla were reminded on Friday, when its stock dropped 7.5 per cent in early trading to $575.

It recovered slightly but still ended the week 15 per cent lower and is down a third from its all-time high of $883 on January 26. The electric car maker’s market cap fell from $834 billion to about $567bn in that time, a drop of an astonishing $267bn, and a blow for those who bought Tesla stock late.

The collapse also hit fund managers that have gone big on Tesla, notably the UK-based Scottish Mortgage Investment Trust and Cathie Wood’s ARK Innovation ETF.

Tesla is the top holding in both funds, making up a hefty 10 per cent of total assets under management. Both funds have fallen by a quarter in the past month.

Matt Weller, global head of market research at GAIN Capital, recently warned that Tesla founder Elon Musk had “flown a bit too close to the sun”, after getting carried away by investing $1.5bn of the company’s money in Bitcoin.

He also predicted Tesla’s sales could struggle as traditional auto manufacturers ramp up electric car production, destroying its first mover advantage.

AJ Bell’s Russ Mould warns that many investors buy tech stocks when earnings forecasts are rising, almost regardless of valuation. “When it works, it really works. But when it goes wrong, elevated valuations leave little or no downside protection.”

A Tesla correction was probably baked in after last year’s astonishing share price surge, and many investors will see this as an opportunity to load up at a reduced price.

Dramatic swings are to be expected when investing in disruptive technology, as Ms Wood at ARK makes clear.

Every week, she sends subscribers a commentary listing “stocks in our strategies that have appreciated or dropped more than 15 per cent in a day” during the week.

Her latest commentary, issued on Friday, showed seven stocks displaying extreme volatility, led by ExOne, a leader in binder jetting 3D printing technology. It jumped 24 per cent, boosted by news that fellow 3D printing specialist Stratasys had beaten fourth-quarter revenues and earnings expectations, seen as good news for the sector.

By contrast, computational drug and material discovery company Schrödinger fell 27 per cent after quarterly and full-year results showed its core software sales and drug development pipeline slowing.

Despite that setback, Ms Wood remains positive, arguing that its “medicinal chemistry platform offers a powerful and unique view into chemical space”.

In her weekly video view, she remains bullish, stating that: “We are on the right side of change, and disruptive innovation is going to deliver exponential growth trajectories for many of our companies, in fact, most of them.”

Ms Wood remains committed to Tesla as she expects global electric car sales to compound at an average annual rate of 82 per cent for the next five years.

She said these are so “enormous that some people find them unbelievable”, and argues that this scepticism, especially among institutional investors, “festers” and creates a great opportunity for ARK.

Only you can decide whether you are a believer or a festering sceptic. If it’s the former, then buckle up.

Top 10 most competitive economies

1. Singapore
2. Switzerland
3. Denmark
4. Ireland
5. Hong Kong
6. Sweden
7. UAE
8. Taiwan
9. Netherlands
10. Norway

Pupils in Abu Dhabi are learning the importance of being active, eating well and leading a healthy lifestyle now and throughout adulthood, thanks to a newly launched programme 'Healthy Lifestyle'.

As part of the Healthy Lifestyle programme, specially trained coaches from City Football Schools, along with Healthpoint physicians have visited schools throughout Abu Dhabi to give fun and interactive lessons on working out regularly, making the right food choices, getting enough sleep and staying hydrated, just like their favourite footballers.

Organised by Manchester City FC and Healthpoint, Manchester City FC’s regional healthcare partner and part of Mubadala’s healthcare network, the ‘Healthy Lifestyle’ programme will visit 15 schools, meeting around 1,000 youngsters over the next five months.

Designed to give pupils all the information they need to improve their diet and fitness habits at home, at school and as they grow up, coaches from City Football Schools will work alongside teachers to lead the youngsters through a series of fun, creative and educational classes as well as activities, including playing football and other games.

Dr Mai Ahmed Al Jaber, head of public health at Healthpoint, said: “The programme has different aspects - diet, exercise, sleep and mental well-being. By having a focus on each of those and delivering information in a way that children can absorb easily it can help to address childhood obesity."

Sri Lanka-India Test series schedule
  • 1st Test India won by 304 runs at Galle
  • 2nd Test India won by innings and 53 runs at Colombo
  • 3rd Test August 12-16 at Pallekele
Temple numbers

Expected completion: 2022

Height: 24 meters

Ground floor banquet hall: 370 square metres to accommodate about 750 people

Ground floor multipurpose hall: 92 square metres for up to 200 people

First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time

First floor terrace areas: 2,30 square metres  

Temple will be spread over 6,900 square metres

Structure includes two basements, ground and first floor 

COMPANY PROFILE

Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends

Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.


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