A Royal Air Force Typhoon FGR4 takes off to carry out air strikes against Houthi military targets in Yemen, from RAF Akrotiri, Cyprus, Monday, January 22, 2024. Ministry of Defence via AP
A Royal Air Force Typhoon FGR4 takes off to carry out air strikes against Houthi military targets in Yemen, from RAF Akrotiri, Cyprus, Monday, January 22, 2024. Ministry of Defence via AP
A Royal Air Force Typhoon FGR4 takes off to carry out air strikes against Houthi military targets in Yemen, from RAF Akrotiri, Cyprus, Monday, January 22, 2024. Ministry of Defence via AP
A Royal Air Force Typhoon FGR4 takes off to carry out air strikes against Houthi military targets in Yemen, from RAF Akrotiri, Cyprus, Monday, January 22, 2024. Ministry of Defence via AP

Iran riding 'uncomfortable wave' in wake of US-UK attacks on Houthis


Thomas Harding
  • English
  • Arabic

Live updates: Follow the latest news on Israel-Gaza

Houthi attacks on international shipping have seen Iran ride an “uncomfortable wave” that America is attempting to contain, the former British ambassador to Yemen has told The National in the wake of strikes on military sites in the country.

With the second wave of joint US and UK attacks on multiple Houthi targets in Yemen on Tuesday, Edmund Fitton-Brown also warned of the risk of “miscalculation”, escalating to war between Tehran and Washington.

“The one thing is absolutely clear as the Houthi attacks won't stop but the strategic objective is to give shipping confidence that it can safely pass through the Red Sea,” he said. “This operation will be judged on whether that confidence is re-established or not.”

The US and UK struck eight Houthi military sites in Yemen on Monday in the latest attempt to stop the Iran-backed rebel group from launching attacks on Red Sea shipping.

A barrage of about 30 Tomahawk land-attack missiles, precision-guided munitions and drone strikes hit Houthi weapons-storage facilities and missiles.

Edmund Fitton-Brown. Photo: UK Government
Edmund Fitton-Brown. Photo: UK Government

British fighter jets dropped precision-guided bombs on two sites near a Sanaa airfield, in what was the UK's second involvement in anti-Houthi strikes.

Britain’s Prime Minister Rishi Sunak warned the Houthis that if the attacks continued “the United Kingdom will not hesitate to respond again in self-defence”.

He also told parliament: “I want to be very clear, we are not seeking a confrontation.” Britain plans to announce new sanctions targeting Houthi financing in the coming days, he said.

A senior US military official said: “We definitely feel that the strikes we have taken have removed significant Houthi capability,” adding that the targeting was “specific” and designed to avoid the risk of civilian casualties. Monday's military action was the eighth US-led strike on the Houthi rebels.

The Houthis said the latest strikes “will not go without any response or punishment.”

Not deterred

But Mr Fitton-Brown, who served as ambassador to Yemen from 2015 to 2017, warned that the escalating strikes were unlikely to have a substantial impact on Houthi shipping attacks.

“If we want to deter the Houthis that's not easy as they're not a very deter-able group,” he said. “Their view is ‘you can't ignore us, we can make your life difficult, if the world forgets about us we won't let it'.

“They are wedded to keeping face, that ‘we are indomitable fighters’, so the idea of them saying, ‘That hurt, let’s not do it again’ is not going to happen.”

The Houthis have no real ideology other than “hatred of the West and Israel, alongside a vicious brand of religious extremism”, he said.

However, he argued that the group may have now understood that they have “clearly bumped up against red lines” and might reduce the intensity of their attacks, which as well as disrupting shipping routes have seriously affected Egypt’s foreign currency revenue from Suez Canal tolls.

However, he said the Houthis “don't care about any pain that they cause to fellow Arabs”.

Iran control

While Iran had supplied the Houthis with arms and training it still did not have full control over the group, Mr Fitton-Brown suggests.

“It’s a curious dynamic between the Houthis and the Iranians. It's definitely not Tehran issuing instructions and the Houthis carrying them out,” said the former diplomat.

“It's more the Houthis doing what they want to do and receiving Iranian assistance. So Iran is riding a slightly uncomfortable wave.”

This meant that Iran likely had “misgivings” about the attacks because “they don't necessarily want an escalation with the US”.

Soldiers prepare a British fighter jet for air strikes against Houthi military targets in Yemen, at the Royal Air Force Akrotiri base in Cyprus. AP
Soldiers prepare a British fighter jet for air strikes against Houthi military targets in Yemen, at the Royal Air Force Akrotiri base in Cyprus. AP

“The Iranians are quite good at reading clear signals and if they wanted to escalate, I would expect to see a significant change in the tempo of Hezbollah attacks into northern Israel,” he said.

However, a dangerous flashpoint between the countries could come over the Iranian spy ship Behshad, which reportedly monitors movements in the southern Red Sea but temporarily departed the area when the first strikes occurred on 11 January.

“There is the potential for the Behshad to get caught up in the US response if it's actively directing attacks that the US is trying to prevent. Then it will become a target,” said Mr Fitton-Brown, who is now senior adviser to the Counter Extremism Project.

“Washington or London will be saying to the Iranians, 'this ship has put itself in the role of being a combatant against our forces, you might want to think about that'.”

Meticulously proportionate

Because the US and British response had “been so meticulously proportionate” it was clear that the western powers were “sending the message, not just to the Houthis, but to the Iranians” that the attacks “will not be tolerated”.

But Tehran could also escalate the crisis if one of the attacks by Iran-sponsored militia on an American base in Iraq resulted in multiple casualties.

“That escalation would be very dangerous,” said Mr Fitton Brown, who for five years led the UN’s team responsible for sanctions on ISIS, Al Qaeda and the Taliban.

Clear message

The latest round of UK and allied strikes against Houthi targets was designed to “send the clearest possible message” to the rebels that attacks on cargo ships are “unacceptable”, the UK Foreign Secretary said.

David Cameron said UK armed forces will “continue to degrade” the Houthis’ ability to carry out attacks as long as their “completely indiscriminate” campaign of harassment in the Middle East continues.

Lord Cameron said the UK had renewed its military action due to attacks on cargo ships continuing.

The US military confirmed the latest strikes were against eight targets.

Yemen's President Abd-Rabbu Mansour Hadi, right, shakes hands with the newly-appointed British ambassador to Yemen Edmund Fitton-Brown in Aden in 2015. Reuters
Yemen's President Abd-Rabbu Mansour Hadi, right, shakes hands with the newly-appointed British ambassador to Yemen Edmund Fitton-Brown in Aden in 2015. Reuters

The Ministry of Defence said four Royal Air Force Typhoons and a pair of Voyager tankers were involved in the latest action.

The department said several targets were hit at two military sites near the Sanaa airfield in Yemen.

Mr Sunak and US President Joe Biden spoke on Monday evening, with a Downing Street readout stating that the two leaders agreed to “continue efforts alongside international partners to deter and disrupt” attacks by the Houthis.

A joint statement issued by Australia, Bahrain, Canada, the Netherlands, the UK and the US described the strikes as “proportionate and necessary”.

The statement said the mission targeted a Houthi underground storage site as well as locations linked to the group’s missile and air surveillance capabilities.

Despite the western intervention, ships have continued to be targeted along the major global trade route which provides access to the Suez Canal, a thoroughfare that serves 15 per cent of world shipping.

International freight companies have been forced to reroute cargo vessels around the Cape of Good Hope at the southern tip of Africa, resulting in longer and more costly journeys.

US-led strikes on the Houthis so far:

January 11: The US and Britain launch the first air strikes on Houthi military sites across Yemen, pledging to protect the freedom of navigation in the Red Sea. They struck radar systems, air defence systems, and storage and launch sites for attack drones, cruise missiles and other rockets, US Central Command said.

January 13: US forces conduct a strike against a Houthi radar site in Yemen. This strike was conducted by the USS Carney using Tomahawk land attack missiles.

January 16: US forces destroy four Houthi missile launchers in Yemen. The launchers were considered to be an imminent threat to commercial and US military vessels in the area.

January 17: US military forces strike 14 Houthi missiles that had been primed to fire on commercial and US naval shipping in the Red Sea, Centcom said.

January 18: US fighter jets conduct a fifth strike on Houthi targets, this time hitting two anti-ship missiles that were being prepared for launch towards the Red Sea.

January 19: US forces conduct three “self-defence strikes” against Houthi targets.

January 20: US forces carry out air strikes on a Houthi anti-ship missile ready to be used against commercial vessels and US Navy ships in the Gulf of Aden.

January 22: US and Britain strike eight Houthi targets in Yemen.

RESULTS

5pm: Maiden (PA) Dh80,000 1,200m
Winner: Ferdous, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm: Arabian Triple Crown Round-3 Group 3 (PA) Dh300,000 2,400m
Winner: Basmah, Fabrice Veron, Eric Lemartinel
6pm: UAE Arabian Derby Prestige (PA) Dh150,000 2,200m
Winner: Ihtesham, Szczepan Mazur, Ibrahim Al Hadhrami
6.30pm: Emirates Championship Group 1 (PA) Dh1,000,000 2,200m
Winner: Somoud, Patrick Cosgrave, Ahmed Al Mehairbi
7pm: Abu Dhabi Championship Group 3 (TB) Dh380,000 2,200m
Winner: GM Hopkins, Patrick Cosgrave, Jaber Ramadhan
7.30pm: Wathba Stallions Cup Conditions (PA) Dh70,000 1,600m
Winner: AF Al Bairaq, Tadhg O’Shea, Ernst Oertel

Top%2010%20most%20competitive%20economies
%3Cp%3E1.%20Singapore%0D%3Cbr%3E2.%20Switzerland%0D%3Cbr%3E3.%20Denmark%0D%3Cbr%3E4.%20Ireland%0D%3Cbr%3E5.%20Hong%20Kong%0D%3Cbr%3E6.%20Sweden%0D%3Cbr%3E7.%20UAE%0D%3Cbr%3E8.%20Taiwan%0D%3Cbr%3E9.%20Netherlands%0D%3Cbr%3E10.%20Norway%0D%3Cbr%3E%3C%2Fp%3E%0A
2018 ICC World Twenty20 Asian Western Sub Regional Qualifier

Event info: The tournament in Kuwait is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.

Teams: UAE, Bahrain, Saudi Arabia, Kuwait, Maldives, Qatar

Friday fixtures: 9.30am (UAE time) - Kuwait v Maldives, Qatar v UAE; 3pm - Saudi Arabia v Bahrain

Our legal columnist

Name: Yousef Al Bahar

Advocate at Al Bahar & Associate Advocates and Legal Consultants, established in 1994

Education: Mr Al Bahar was born in 1979 and graduated in 2008 from the Judicial Institute. He took after his father, who was one of the first Emirati lawyers

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The bio

Favourite book: Kane and Abel by Jeffrey Archer

Favourite quote: “The world makes way for the man who knows where he is going.” - Ralph Waldo Emerson, American essayist

Favourite Authors: Arab poet Abu At-Tayyib Al-Mutanabbi

Favourite Emirati food: Luqaimat, a deep-fried dough soaked in date syrup

Hobbies: Reading and drawing

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.”

The line up

Friday: Giggs, Sho Madjozi and Masego  

Saturday: Nas, Lion Bbae, Roxanne Shante and DaniLeigh  

Sole DXB runs from December 6 to 8 at Dubai Design District. Weekend pass is Dh295 while a one day pass is Dh195. Tickets are available from www.soledxb.com

UAE%20v%20West%20Indies
%3Cp%3EFirst%20ODI%20-%20Sunday%2C%20June%204%20%0D%3Cbr%3ESecond%20ODI%20-%20Tuesday%2C%20June%206%20%0D%3Cbr%3EThird%20ODI%20-%20Friday%2C%20June%209%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3EMatches%20at%20Sharjah%20Cricket%20Stadium.%20All%20games%20start%20at%204.30pm%0D%3Cbr%3E%0D%3Cbr%3E%3Cstrong%3EUAE%20squad%3C%2Fstrong%3E%0D%3Cbr%3EMuhammad%20Waseem%20(captain)%2C%20Aayan%20Khan%2C%20Adithya%20Shetty%2C%20Ali%20Naseer%2C%20Ansh%20Tandon%2C%20Aryansh%20Sharma%2C%20Asif%20Khan%2C%20Basil%20Hameed%2C%20Ethan%20D%E2%80%99Souza%2C%20Fahad%20Nawaz%2C%20Jonathan%20Figy%2C%20Junaid%20Siddique%2C%20Karthik%20Meiyappan%2C%20Lovepreet%20Singh%2C%20Matiullah%2C%20Mohammed%20Faraazuddin%2C%20Muhammad%20Jawadullah%2C%20Rameez%20Shahzad%2C%20Rohan%20Mustafa%2C%20Sanchit%20Sharma%2C%20Vriitya%20Aravind%2C%20Zahoor%20Khan%0D%3C%2Fp%3E%0A
The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

The%20specs
%3Cp%3E%3Cstrong%3EPowertrain%3A%20%3C%2Fstrong%3ESingle%20electric%20motor%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E201hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E310Nm%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20auto%0D%3Cbr%3E%3Cstrong%3EBattery%3A%20%3C%2Fstrong%3E53kWh%20lithium-ion%20battery%20pack%20(GS%20base%20model)%3B%2070kWh%20battery%20pack%20(GF)%0D%3Cbr%3E%3Cstrong%3ETouring%20range%3A%20%3C%2Fstrong%3E350km%20(GS)%3B%20480km%20(GF)%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh129%2C900%20(GS)%3B%20Dh149%2C000%20(GF)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Now%3C%2Fp%3E%0A
Aayan%E2%80%99s%20records
%3Cp%3E%3Cstrong%3EYoungest%20UAE%20men%E2%80%99s%20cricketer%3C%2Fstrong%3E%3Cbr%3EWhen%20he%20debuted%20against%20Bangladesh%20aged%2016%20years%20and%20314%20days%2C%20he%20became%20the%20youngest%20ever%20to%20play%20for%20the%20men%E2%80%99s%20senior%20team.%20He%20broke%20the%20record%20set%20by%20his%20World%20Cup%20squad-mate%2C%20Alishan%20Sharafu%2C%20of%2017%20years%20and%2044%20days.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20wicket-taker%3C%2Fstrong%3E%3Cbr%3EAfter%20taking%20the%20wicket%20of%20Bangladesh%E2%80%99s%20Litton%20Das%20on%20debut%20in%20Dubai%2C%20Aayan%20became%20the%20youngest%20male%20cricketer%20to%20take%20a%20wicket%20against%20a%20Full%20Member%20nation%20in%20a%20T20%20international.%3Cbr%3E%20%3Cbr%3E%3Cstrong%3EYoungest%20in%20T20%20World%20Cup%20history%3F%3C%2Fstrong%3E%3Cbr%3EAayan%20does%20not%20turn%2017%20until%20November%2015%20%E2%80%93%20which%20is%20two%20days%20after%20the%20T20%20World%20Cup%20final%20at%20the%20MCG.%20If%20he%20does%20play%20in%20the%20competition%2C%20he%20will%20be%20its%20youngest%20ever%20player.%20Pakistan%E2%80%99s%20Mohammed%20Amir%2C%20who%20was%2017%20years%20and%2055%20days%20when%20he%20played%20in%202009%2C%20currently%20holds%20the%20record.%3C%2Fp%3E%0A
RIDE%20ON
%3Cp%3EDirector%3A%20Larry%20Yang%3C%2Fp%3E%0A%3Cp%3EStars%3A%20Jackie%20Chan%2C%20Liu%20Haocun%2C%20Kevin%20Guo%3C%2Fp%3E%0A%3Cp%3ERating%3A%202%2F5%3C%2Fp%3E%0A
PRISCILLA
%3Cp%3EDirector%3A%20Sofia%20Coppola%3C%2Fp%3E%0A%3Cp%3EStarring%3A%20Cailee%20Spaeny%2C%20Jacob%20Elordi%3C%2Fp%3E%0A%3Cp%3ERating%3A%203%2F5%3C%2Fp%3E%0A
Tightening the screw on rogue recruiters

The UAE overhauled the procedure to recruit housemaids and domestic workers with a law in 2017 to protect low-income labour from being exploited.

 Only recruitment companies authorised by the government are permitted as part of Tadbeer, a network of labour ministry-regulated centres.

A contract must be drawn up for domestic workers, the wages and job offer clearly stating the nature of work.

The contract stating the wages, work entailed and accommodation must be sent to the employee in their home country before they depart for the UAE.

The contract will be signed by the employer and employee when the domestic worker arrives in the UAE.

Only recruitment agencies registered with the ministry can undertake recruitment and employment applications for domestic workers.

Penalties for illegal recruitment in the UAE include fines of up to Dh100,000 and imprisonment

But agents not authorised by the government sidestep the law by illegally getting women into the country on visit visas.

VEZEETA PROFILE

Date started: 2012

Founder: Amir Barsoum

Based: Dubai, UAE

Sector: HealthTech / MedTech

Size: 300 employees

Funding: $22.6 million (as of September 2018)

Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC

Desert Warrior

Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley

Director: Rupert Wyatt

Rating: 3/5

Profile Box

Company/date started: 2015

Founder/CEO: Mohammed Toraif

Based: Manama, Bahrain

Sector: Sales, Technology, Conservation

Size: (employees/revenue) 4/ 5,000 downloads

Stage: 1 ($100,000)

Investors: Two first-round investors including, 500 Startups, Fawaz Al Gosaibi Holding (Saudi Arabia)

How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, (Leon banned).

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.

A Dog's Journey 

Directed by: Gail Mancuso

Starring: Dennis Quaid, Josh Gad, Marg Helgenberger, Betty Gilpin, Kathryn Prescott

3 out of 5 stars

Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
The specs: 2018 Chevrolet Trailblazer

Price, base / as tested Dh99,000 / Dh132,000

Engine 3.6L V6

Transmission: Six-speed automatic

Power 275hp @ 6,000rpm

Torque 350Nm @ 3,700rpm

Fuel economy combined 12.2L / 100km

Why it pays to compare

A comparison of sending Dh20,000 from the UAE using two different routes at the same time - the first direct from a UAE bank to a bank in Germany, and the second from the same UAE bank via an online platform to Germany - found key differences in cost and speed. The transfers were both initiated on January 30.

Route 1: bank transfer

The UAE bank charged Dh152.25 for the Dh20,000 transfer. On top of that, their exchange rate margin added a difference of around Dh415, compared with the mid-market rate.

Total cost: Dh567.25 - around 2.9 per cent of the total amount

Total received: €4,670.30 

Route 2: online platform

The UAE bank’s charge for sending Dh20,000 to a UK dirham-denominated account was Dh2.10. The exchange rate margin cost was Dh60, plus a Dh12 fee.

Total cost: Dh74.10, around 0.4 per cent of the transaction

Total received: €4,756

The UAE bank transfer was far quicker – around two to three working days, while the online platform took around four to five days, but was considerably cheaper. In the online platform transfer, the funds were also exposed to currency risk during the period it took for them to arrive.

Diriyah%20project%20at%20a%20glance
%3Cp%3E-%20Diriyah%E2%80%99s%201.9km%20King%20Salman%20Boulevard%2C%20a%20Parisian%20Champs-Elysees-inspired%20avenue%2C%20is%20scheduled%20for%20completion%20in%202028%0D%3Cbr%3E-%20The%20Royal%20Diriyah%20Opera%20House%20is%20expected%20to%20be%20completed%20in%20four%20years%0D%3Cbr%3E-%20Diriyah%E2%80%99s%20first%20of%2042%20hotels%2C%20the%20Bab%20Samhan%20hotel%2C%20will%20open%20in%20the%20first%20quarter%20of%202024%0D%3Cbr%3E-%20On%20completion%20in%202030%2C%20the%20Diriyah%20project%20is%20forecast%20to%20accommodate%20more%20than%20100%2C000%20people%0D%3Cbr%3E-%20The%20%2463.2%20billion%20Diriyah%20project%20will%20contribute%20%247.2%20billion%20to%20the%20kingdom%E2%80%99s%20GDP%0D%3Cbr%3E-%20It%20will%20create%20more%20than%20178%2C000%20jobs%20and%20aims%20to%20attract%20more%20than%2050%20million%20visits%20a%20year%0D%3Cbr%3E-%20About%202%2C000%20people%20work%20for%20the%20Diriyah%20Company%2C%20with%20more%20than%2086%20per%20cent%20being%20Saudi%20citizens%0D%3C%2Fp%3E%0A
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%3C%2Fstrong%3E%20Carzaty%2C%20now%20Kavak%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%3Cbr%3E%3Cstrong%3ELaunch%20year%3A%20%3C%2Fstrong%3ECarzaty%20launched%20in%202018%2C%20Kavak%20in%20the%20GCC%20launched%20in%202022%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%20140%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20Automotive%3Cbr%3E%3Cstrong%3EFunding%3A%20%3C%2Fstrong%3ECarzaty%20raised%20%246m%20in%20equity%20and%20%244m%20in%20debt%3B%20Kavak%20plans%20%24130m%20investment%20in%20the%20GCC%3C%2Fp%3E%0A

The Disaster Artist

Director: James Franco

Starring: James Franco, Dave Franco, Seth Rogan

Four stars

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

La Mer lowdown

La Mer beach is open from 10am until midnight, daily, and is located in Jumeirah 1, well after Kite Beach. Some restaurants, like Cupagahwa, are open from 8am for breakfast; most others start at noon. At the time of writing, we noticed that signs for Vicolo, an Italian eatery, and Kaftan, a Turkish restaurant, indicated that these two restaurants will be open soon, most likely this month. Parking is available, as well as a Dh100 all-day valet option or a Dh50 valet service if you’re just stopping by for a few hours.
 

GIANT REVIEW

Starring: Amir El-Masry, Pierce Brosnan

Director: Athale

Rating: 4/5

THE SPECS

Engine: 1.5-litre turbocharged four-cylinder

Transmission: Constant Variable (CVT)

Power: 141bhp 

Torque: 250Nm 

Price: Dh64,500

On sale: Now

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

Updated: January 23, 2024, 5:29 PM