Tuesday, May 26

World

Wife and son of Gabon’s ousted leader given 20-year jail terms in two-day corruption trial
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World

Wife and son of Gabon’s ousted leader given 20-year jail terms in two-day corruption trial

Syvia Bongo (R) and her son were accused of exploiting former President Ali Bongo's (L) condition after he suffered a stroke in 2018 A court in Gabon has sentenced the former first lady and the son of deposed President Ali Bongo to 20 years in jail following a two-day trial. On Tuesday night, Sylvia Bongo and Noureddin Bongo were found guilty of embezzlement and corruption after a trial that began a day earlier. They were not present. They were both fined 100m CFA francs ($177,000; £135,000), with Noureddin ordered to pay an extra 1.2tn CFA francs ($2.1; £1.6bn) for financial damages suffered by the Gabonese state. They were accused of exploiting Ali Bongo's condition after he suffered a stroke in 2018 to run Gabon for their own personal profit. They denied the charges ahead of...
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Dubai Electricity and Water Authority PJSC announces record breaking revenue of AED 25 billion and operating profit of AED 8.3 billion for the first nine months ending Sept 2025
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Dubai Electricity and Water Authority PJSC announces record breaking revenue of AED 25 billion and operating profit of AED 8.3 billion for the first nine months ending Sept 2025

Record nine months of 2025 ResultsAED 24.9 billionAED 13.1 billionAED 8.3 billionAED 6.8 billion+5.9% YoY+11.9% YoY+21.5% YoY+24.8% YoY9 months of 2025 Revenue9 months of 2025 EBITDA9 months of 2025 Operating Profit9 months of 2025 Profit After Tax * figures are rounded Record Q3 2025 ResultsAED 10.3 billionAED 6.2 billionAED 4.6 billionAED 3.9 billion+4.5% YoY+20.4% YoY+29.8% YoY+35% YoYQ3, 2025 RevenueQ3, 2025 EBITDAQ3, 2025 Operating ProfitQ3, 2025 Profit After Tax * figures are rounded Dubai Electricity and Water Authority PJSC (ISIN: AED001801011) (Symbol: DEWA), the Emirate of Dubai’s exclusive electricity and water services provider,...
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Events Investment Fund Boosts Saudi Sports, Culture, Tourism and Entertainment Sectors with Launch of First Landmark Project
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Events Investment Fund Boosts Saudi Sports, Culture, Tourism and Entertainment Sectors with Launch of First Landmark Project

US$131m Riyadh Shooting Range & Entertainment Complex to create 2,300+ jobs and attract 400,000 visitors annually. The Events Investment Fund (EIF) — launched by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia, under the National Development Fund (NDF) — today announced the development of the Riyadh Shooting Range & Entertainment Complex, its first landmark project at an investment exceeding SAR 491 million (over US$ 131 million).  The announcement was made at the inaugural TOURISE Summit in Riyadh, the world’s premier platform for shaping the future of global tourism.  Situated just 40 minutes from Riyadh, the state-of-the-art Riyadh Shooting Range & Entertainment Complex is ...
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World leaders and industry icons unite under BRIDGE Alliance to empower the future of media, entertainment and content
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World

World leaders and industry icons unite under BRIDGE Alliance to empower the future of media, entertainment and content

A new international alliance of policymakers, creative leaders, and innovators has come together under the banner of BRIDGE Alliance to advance inclusivity, investment, and sustainable development in the global media, entertainment and content economy. Headquartered in the UAE, BRIDGE Alliance stands as a first-of-its-kind global body chaired by H.E. Abdulla bin Mohammed bin Butti Al Hamed. It brings together an influential board comprising former heads of state, global leaders, policymakers, and CEOs from the media, communication, technology, finance, and creative sectors. The founding board includes HRH Princess Lamia bint Majed Al Saud, CEO of Rotana Media Group and Secretary-General of Alwaleed Philanthropies; H.E. Macky Sall, fourth President o...
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Clear Flow from KSA and Sparks from Morocco Win Alshaya Starbucks Sustainability in Action Award at INJAZ Al-Arab YEC 2025
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Clear Flow from KSA and Sparks from Morocco Win Alshaya Starbucks Sustainability in Action Award at INJAZ Al-Arab YEC 2025

From flood prevention to smart quality control, young innovators from across the Arab region showcase practical solutions for sustainability challenges Two student-led innovations from Saudi Arabia and Morocco earned top honors at INJAZ Al-Arab Youth Entrepreneurship Celebration (YEC) in Cairo, showcasing how young Arab entrepreneurs are transforming sustainability challenges into practical solutions. The Alshaya Starbucks Sustainability in Action Award honored two standout projects: Clear Flow from Saudi Arabia in the high school division, while Sparks from Morocco in the university category. The teams were selected from 22 competing teams representing 12 countries at the region’s&nbs...
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The International Swaps and Derivatives Association (ISDA) Endorses the Alignment of the Close-out Netting Regulation with International Standards
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The International Swaps and Derivatives Association (ISDA) Endorses the Alignment of the Close-out Netting Regulation with International Standards

The ISDA endorsed the Close-out Netting and related Collateral Arrangements Regulation adopted by the Capital Market Authority (CMA), which came into effect in July 2025, confirming its alignment with international standards. According to a statement published on ISDA's website, the Regulation adopted by the CMA was included within the scope of ISDA's legal opinions consistent with international derivatives agreements, signifying that the Kingdom of Saudi Arabia has become a jurisdiction supporting international netting legislation, strengthening the enforceability of such contracts at the international level. Mr. Raed Ibrahim Alhumaid, CMA Deputy of Market Institutions, explained that the Regulation approved four months ago was designed to regulate...
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Digital Access Reaches Four in Five People Worldwide, DCO’s DEN 2025 Finds
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Digital Access Reaches Four in Five People Worldwide, DCO’s DEN 2025 Finds

The Digital Cooperation Organization (DCO), the international organization dedicated to advancing inclusive and sustainable digital economies, today launched the Digital Economy Navigator (DEN) 2025 at the Second World Summit for Social Development (WSSD2) in Doha. The second edition of the Navigator provides the most comprehensive analysis to date of global digital-economy maturity. Covering 80 countries representing 94 per cent of global GDP and 85 per cent of the world’s population, the report draws on 145 indicators and a survey of more than 41,000 people to assess digital infrastructure, innovation, governance, business capacity, and inclusion. DCO Secretary-General Deemah AlYahya said the DEN 2025 highlights both global progress and the work ahead: ...
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ADNOC Partners with Comera Financial Holdings to Empower its UAE Suppliers and SMEs with Smart Financing Solutions
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ADNOC Partners with Comera Financial Holdings to Empower its UAE Suppliers and SMEs with Smart Financing Solutions

Strategic partnership unlocks quick access to purchase order financing through an automated platform Initiative to enhance SME cash flow, strengthen supply chain resilience, and support UAE economic diversification ADNOC has signed a strategic partnership with Comera Financial Holdings to enhance financial access for ADNOC’s UAE-based small and medium enterprises (SMEs) and suppliers. The collaboration will launch a financing program, enabling SMEs and suppliers to access working capital more efficiently to enable them to more swiftly deliver on ADNOC purchase orders (PO). The initiative will boost access to liquidity while enabling scalable operations and sustainable growth for the suppliers and SMEs. The partnership reinforces ADNOC’s commitment to supporting local bus...
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At least 240 charged with treason after Tanzania election violence 
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At least 240 charged with treason after Tanzania election violence 

President Samia faced no significant opposition in last week's poll A Tanzanian court has charged at least 240 people with treason following last week's deadly election protests. President Samia Suluhu Hassan was declared the winner of the election with 98% of the vote, but the opposition - which was barred from contesting - denounced the poll as a sham. Security forces clashed with those protesting against the vote and, according to various sources, hundreds were killed. The authorities have downplayed the scale of the violence and maintained the election was free and fair. Many people were arrested and have now been charged with treason at a court in the economic capital of Dar es Salaam. They were not been asked to enter a plea in court. According to a charge sheet seen b...
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World’s oldest president sworn in for eighth term in Cameroon
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World’s oldest president sworn in for eighth term in Cameroon

Paul Biya, 92, has been in power since 1982 Cameroon's 92-year-old President Paul Biya has promised to restore order in the country gripped by post-election violence, as he was sworn in for an eighth consecutive term in office. In his inaugural address, the world's oldest president offered condolences to victims of the protests and blamed those he called "irresponsible politicians" for the unrest. "I can assure you, order will reign," he promised, saying it was pointless to plunge the country into crisis. Following allegations of fraud during last month's election, Biya described the electoral process as satisfactory and praised the electoral body Elecam. The nonagenarian won 54% of the vote, compared to the 35% of Issa Tchiroma Bakary, according to the official results. ...
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