Yemeni men and security forces inspect the site of a suicide bombing in the southern port city of Aden, on November 5, 2017.
Al-Qaeda suspects carried out twin suicide bombings and took hostages, officials said, as they struck at the heart of the Yemeni government after suffering a string of setbacks. The apparently coordinated attacks spell an abrupt end to a period of relative calm that has reigned in Aden, where the government of President Abedrabbo Mansour Hadi has been based since it was driven out of the capital Sanaa by a rival rebel camp in 2014.
 / AFP PHOTO / STRINGER
Yemeni security forces inspect the site of a suicide bombing in the southern port city of Aden on November 5, 2017. Al Qaeda suspects carried out twin suicide bombings and took hostages, officials sai

Arab coalition launches offensive to drive out Al Qaeda in Yemen



The Arab coalition backing the legitimate government in Yemen has launched an operation to drive out Al Qaeda from Wadi Al Masini in the eastern province of Hadramawt.

The Al Faisal Operation by the Saudi-led coalition — which includes the UAE — is focusing on three main areas and “is backed by massive carpet-bombing”, reported the Emirates’ state news agency, Wam, on Saturday.

The report added that the coalition forces have entered the Wadi Al Masini, an Al Qaeda stronghold, and have full control of its entry points.

Al Qaeda in the Arabian Peninsula (AQAP) largely withdrew from Mukalla in Hadramawt in 2016 when government and Emirati soldiers seized the city that had been used by the extremists to amass a fortune amid the chaos of civil war.

After liberating Mukalla, the UAE’s Emirates Red Crescent began aid relief operations and $20 million (Dh73.5m) was allocated to rebuild the port city and other developmental projects essential to Yemen’s economy.

Extremist groups have become a growing threat in war-torn Yemen, where government forces are fighting Iran-back Houthi rebels. Both AQAP and ISIL have tried to expand their presence in Yemen.

Read more: Arab coalition destroys Houthi weapons depot

The Arab coalition intervened in the war in 2015 on behalf of the internationally recognised government and has suppressed the efforts of extremist groups.

On Friday, a Yemen-born New Yorker pleaded guilty for attempting to provide material support to ISIL. Mohamed Rafik Naji admitted that he tried to join the organisation in Yemen.

Naji said he travelled to Yemen in 2015 to join ISIL and “encouraged another person to join”. He said he did not join. Naji was arrested in 2016 and faces a maximum sentence of 20 years in prison.

In August 2015, a law enforcement informant began communicating with Naji via Facebook while he was in Yemen. Upon returning to New York in September 2015, the informant met Naji and recorded their conversations.

In July 2016, five days after an attack in Nice, France, that killed more than 80 people, Naji expressed his support for staging a similar attack in Times Square, according to court papers.

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Director: Khalid Fahad

Starring: Shaima Al Tayeb, Wafa Muhamad, Hamss Bandar

Rating: 3/5

Company Profile

Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed

RESULT

Esperance de Tunis 1 Guadalajara 1 
(Esperance won 6-5 on penalties)
Esperance: Belaili 38’
Guadalajara: Sandoval 5’

Sarfira

Director: Sudha Kongara Prasad

Starring: Akshay Kumar, Radhika Madan, Paresh Rawal

Rating: 2/5

COMPANY PROFILE

Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others

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

While you're here
Company Profile

Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government

The years Ramadan fell in May

1987

1954

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1888

MO

Creators: Mohammed Amer, Ramy Youssef

Stars: Mohammed Amer, Teresa Ruiz, Omar Elba

Rating: 4/5

Western Clubs Champions League:

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Dengue fever symptoms

High fever (40°C/104°F)
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The specs: 2019 GMC Yukon Denali

Price, base: Dh306,500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp @ 5,600rpm
Torque: 621Nm @ 4,100rpm​​​​​​​
​​​​​​​Fuel economy, combined: 12.9L / 100km

The struggle is on for active managers

David Einhorn closed out 2018 with his biggest annual loss ever for the 22-year-old Greenlight Capital.

The firm’s main hedge fund fell 9 per cent in December, extending this year’s decline to 34 percent, according to an investor update viewed by Bloomberg.

Greenlight posted some of the industry’s best returns in its early years, but has stumbled since losing more than 20 per cent in 2015.

Other value-investing managers have also struggled, as a decade of historically low interest rates and the rise of passive investing and quant trading pushed growth stocks past their inexpensive brethren. Three Bays Capital and SPO Partners & Co., which sought to make wagers on undervalued stocks, closed in 2018. Mr Einhorn has repeatedly expressed his frustration with the poor performance this year, while remaining steadfast in his commitment to value investing.

Greenlight, which posted gains only in May and October, underperformed both the broader market and its peers in 2018. The S&P 500 Index dropped 4.4 per cent, including dividends, while the HFRX Global Hedge Fund Index, an early indicator of industry performance, fell 7 per cent through December. 28.

At the start of the year, Greenlight managed $6.3 billion in assets, according to a regulatory filing. By May, the firm was down to $5.5bn. 

What are NFTs?

Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.

You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”

However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.

This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”

This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.

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Rashid & Rajab

Director: Mohammed Saeed Harib

Stars: Shadi Alfons,  Marwan Abdullah, Doaa Mostafa Ragab 

Two stars out of five 

Difference between fractional ownership and timeshare

Although similar in its appearance, the concept of a fractional title deed is unlike that of a timeshare, which usually involves multiple investors buying “time” in a property whereby the owner has the right to occupation for a specified period of time in any year, as opposed to the actual real estate, said John Peacock, Head of Indirect Tax and Conveyancing, BSA Ahmad Bin Hezeem & Associates, a law firm.


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