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ARABIAN POST SPECIAL

Emaar Properties and its development arm, Emaar Development, have announced significant gains in net profit for the first half of the year, buoyed by a robust increase in property sales. The results highlight the continuing strength of Dubai’s real estate sector, which has seen a resurgence in demand.

Emaar Properties, a major player in the global real estate market, reported a notable rise in net profit, reflecting a 22% increase compared to the same period last year. The company’s strong performance is attributed to a surge in property transactions and the successful delivery of several high-profile projects. This growth underscores the ongoing recovery and expansion of Dubai’s property market.

Emaar Development, a subsidiary specializing in residential and commercial projects, mirrored this upward trend with a 20% increase in net profit. The company’s performance has been fueled by high sales volumes and increased revenue from its development projects. The positive results from both Emaar Properties and Emaar Development signal a sustained confidence in Dubai’s real estate sector, driven by both domestic and international buyers.

Key projects contributing to the sales surge include the launch of several luxury residential towers and commercial spaces in Dubai. These projects have attracted significant interest, reflecting a broader trend of increased investment in high-end real estate across the city. Analysts attribute the strong performance to both the ongoing economic recovery in the region and strategic expansions by Emaar Properties.

The real estate market in Dubai has experienced a transformative period, marked by a rise in demand for premium properties and a stable economic environment. Emaar Properties and Emaar Development have capitalized on these trends, leveraging their established market presence and extensive project portfolios to drive growth. Their strong financial results reflect not only their operational success but also the broader health of Dubai’s real estate sector.

The positive financial performance is expected to continue, with industry experts predicting sustained growth in property sales and market activity. Both companies are poised to benefit from the ongoing expansion and development in Dubai, which continues to attract investors and buyers seeking high-quality real estate opportunities.

Emaar Properties’ and Emaar Development’s results are indicative of the broader trends in Dubai’s real estate market, showcasing the resilience and potential of the sector. Their success highlights the effectiveness of their strategic initiatives and the favorable conditions for real estate investment in the region.

Overall, the strong financial performance of Emaar Properties and Emaar Development reflects a positive outlook for Dubai’s real estate sector, marked by robust sales and continued investor interest. This upward trend is likely to shape the market dynamics for the foreseeable future, reinforcing the region’s position as a key player in the global real estate landscape.

Raja Salameh, brother of Lebanon’s former central bank governor Riad Salameh, has come under investigation in France as part of a corruption probe. This investigation is focused on the alleged embezzlement of over $330 million from Lebanon’s central bank. French authorities suspect that Raja, along with his brother, diverted these funds between 2002 and 2015, funneling them into European investments.

The case has drawn significant attention due to the extensive tenure of Riad Salameh as governor, a role he held for three decades. During this time, Riad became a prominent figure, especially as Lebanon grappled with severe economic challenges, culminating in the financial crisis that erupted in 2019.

Prosecutors from Germany, France, and Luxembourg have been actively involved in the investigation, conducting interviews with Lebanese bankers and officials in Beirut. The focus of their inquiries has been on the commissions collected by the central bank, which were purportedly transferred to Forry Associates, a company owned by Raja Salameh. The central bank allegedly collected these commissions from bond buyers and, instead of retaining them, funneled the money to Forry Associates without clear disclosure to private banks.

Despite the allegations, both Riad and Raja Salameh have denied any wrongdoing. Riad maintains that the $300 million was earned legally, emphasizing that he is being used as a scapegoat for the country’s financial woes. Pierre-Olivier Sur, Riad’s French lawyer, argued that the commissions were legitimate payments for intermediation work conducted by Forry Associates, authorized by the central bank’s management and supervisory bodies.

The revelations have intensified scrutiny of Lebanon’s financial sector and the role of its central bank. Lebanese authorities have also pursued their own investigations, leading to charges of illicit enrichment against Riad Salameh in March, which he has denied.

Riad Salameh continues to have the support of key Lebanese political figures, including Nabih Berri, the long-standing Speaker of Parliament. However, the unfolding investigations in Europe and Lebanon are likely to exert increasing pressure on him and his associates as authorities seek to uncover the full extent of the alleged financial misconduct.

The case highlights the broader challenges facing Lebanon, where endemic corruption and financial mismanagement have severely impacted the country’s economy, contributing to widespread public distrust in its institutions. As European prosecutors proceed with their investigation, the international community watches closely, hoping for accountability and transparency in addressing these serious allegations.

A significant portion of Americans disapprove of deploying U.S. ground forces to protect Israel in the event of an Iranian attack. This sentiment emerges amidst heightened tensions in the Middle East, reflecting a broader reluctance to engage militarily in foreign conflicts.

Recent surveys from Pew Research Center and Ipsos reveal that a majority of Americans prefer the United States to adopt a diplomatic stance rather than a military one in the ongoing Israel-Hamas conflict. Approximately 57% of respondents oppose sending U.S. troops if Israel were attacked by its neighbors, while 50% oppose military intervention if Iran directly entered the conflict. This indicates a strong preference for non-interventionist policies, despite widespread sympathy for Israel among the American public.

The data also shows significant demographic and political variations in opinions on U.S. involvement. Older Americans, particularly those over 65, are more inclined to support military aid, whereas younger adults, especially those under 30, largely oppose it. Politically, Republicans are more supportive of military aid to Israel than Democrats, but a significant portion of both groups agree on avoiding direct military engagement.

The American public’s preference leans heavily towards diplomatic efforts. Most Americans believe the U.S. should play a minor role in resolving the Israel-Hamas conflict, with 53% advocating for diplomatic negotiations and 54% supporting efforts to protect Israeli civilians. There is, however, less consensus on military aid, with the country almost evenly split—36% in favor and 34% against.

Jewish Americans strongly support military aid to Israel, with 56% in favor, contrasted by 55% of Muslim Americans who oppose it. These differences highlight the complex and multifaceted nature of public opinion on U.S. foreign policy in the Middle East.

While the public remains divided on specific policies, there is a clear majority opposing the deployment of U.S. ground troops in active combat scenarios. This stance underscores a broader trend of wariness towards further military entanglements, emphasizing a preference for diplomatic and humanitarian interventions over direct military action.

The findings indicate a cautious approach to U.S. involvement in the Middle East, reflecting a desire for balanced and measured responses to complex international conflicts.

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Sources:
– Pew Research Center: Views on U.S. Involvement in Israel-Hamas Conflict
– Ipsos: American Public Opinion on Israel-Gaza Conflict

BMW Motorrad Austria has collaborated with the Austrian design studio Vagabund Moto GmbH to create a unique and innovative electric scooter, the CE 02 x Vagabund. This new model stands out with its striking retro-futuristic design, blending modern aesthetics with nostalgic elements to appeal to urban commuters.

The CE 02 x Vagabund, introduced as part of a one-off project, is a testament to the creative synergy between the automotive giant and the design studio. Vagabund’s founders, Paul Brauchart and Philipp Rabl, emphasized their intent to combine futuristic elements with a retro touch, inspired by minimalistic designs from the 1960s and 70s. The result is an electric scooter that not only offers functionality but also a distinct visual appeal.

One of the standout features of the CE 02 x Vagabund is the inclusion of a Teenage Engineering OB-4 Magic Radio. This addition aligns perfectly with the scooter’s retro-futuristic theme, offering users a unique auditory experience while commuting. Furthermore, the scooter features an “electric exhaust” that doubles as an umbrella drawer, enhancing its practicality for urban environments.

The project was showcased during the BMW Motorrad Days in Berlin, where it garnered significant attention for its innovative design and modularity. This customization follows a previous collaboration between BMW and Vagabund, which included the BMW CE 04, notable for its surfboard rack and smiley face design.

This bespoke scooter is presented in a custom 3.6-meter high steel-like packaging, resembling a collectible item. This special packaging not only highlights the uniqueness of the CE 02 x Vagabund but also ensures its safe transportation and display.

Although the CE 02 x Vagabund is not intended for mass production, it serves as a powerful example of what can be achieved through creative collaborations between automotive manufacturers and design studios. The project underscores BMW’s commitment to exploring new design horizons and Vagabund’s ability to merge different design philosophies into a cohesive product.

This electric scooter exemplifies how traditional design elements can be reimagined with modern technology to create a product that is both functional and aesthetically pleasing. The CE 02 x Vagabund stands as a significant milestone in the ongoing evolution of urban mobility solutions.

This collaboration between BMW Motorrad and Vagabund Moto GmbH not only reflects the innovative spirit of both companies but also sets a new standard for what can be achieved in the realm of electric urban mobility. The CE 02 x Vagabund is poised to inspire future projects and collaborations in the industry, pushing the boundaries of design and functionality.

A bipartisan group of 22 members of Congress has expressed concerns over potential funding from Iran to anti-Israel organizations within the United States. This apprehension, detailed in a recent letter, highlights ongoing fears of foreign influence in domestic affairs, particularly regarding protests linked to the Gaza conflict.

Director of National Intelligence Avril Haines confirmed that Iranian government actors have been actively involved in provoking and financially supporting protests in the U.S. over the Gaza war. According to Haines, these actors have posed as activists online, aiming to incite demonstrations and deepen divisions within the U.S. She emphasized that while many American protesters are genuine in their expressions, there are troubling indications of foreign manipulation designed to exploit these movements.

The letter from Congress specifically questions how and why certain protests target particular locations and figures, suggesting an organized effort supported by foreign funding. Representative Brad Schneider (D-IL) pointed out that anti-Israel protests targeting his home and office, equipped with sophisticated materials like sirens and professional banners, raise questions about their funding sources.

House Foreign Affairs Committee Chair Michael McCaul (R-TX) stated that it would not be surprising if Iranian influence were confirmed, signaling a potential investigation into the matter. McCaul also underscored the need to scrutinize the role of social media platforms like TikTok in spreading anti-Israel narratives, which he fears are influencing the younger generation.

This revelation comes as part of a broader concern over foreign interference in U.S. protests, with Iran allegedly using tactics similar to those deployed in previous influence operations. In 2020, for example, Iranian actors posed as members of the far-right group Proud Boys, sending threatening emails to voters in swing states.

The congressional letter and Haines’ statement mark the beginning of a series of public updates on foreign influence operations, especially with the 2024 election approaching. There is a call for increased vigilance among Americans when interacting with online entities they do not personally know, to avoid unwittingly participating in foreign-sponsored activities.

As this issue unfolds, lawmakers and intelligence officials continue to urge transparency and accountability, stressing the importance of addressing these foreign influence efforts to protect the integrity of American democratic processes.

US Defense Secretary Lloyd Austin, under the directive of President Joe Biden, rejected a plea deal for the alleged orchestrators of the September 11, 2001 attacks. The plea agreement would have seen Khalid Sheikh Mohammed and four co-defendants plead guilty in exchange for avoiding the death penalty. Lawmakers, including Senator Ted Cruz and Representative Nicole Malliotakis, condemned the plea, urging the administration to pursue the death penalty. This decision comes amid concerns over the implications of such a deal, especially for the victims’ families who have been seeking justice for over two decades.

The plea negotiations, ongoing for over a year, were partly motivated by legal challenges arising from the CIA’s use of torture on the suspects. Critics argue that avoiding the death penalty would undermine justice. Additionally, over 2,000 9/11 victims’ family members sent a letter to Biden, expressing their dismay over the plea deal and its potential to obscure crucial details about the attacks.