Saudi Arabia has unveiled an ambitious strategy to play a pivotal role in stabilizing post-war Gaza, as detailed in an internal foreign ministry report obtained by Middle East Eye. The kingdom’s plan focuses on disarming and marginalizing Hamas while bolstering the Palestinian Authority (PA) through financial and logistical support. Central to this vision is the deployment of an international peacekeeping mission in Gaza, with Saudi Arabia and other Arab and Muslim-majority nations expected to contribute significantly. The report emphasizes the kingdom’s commitment to fostering stability in the Palestinian territories by reforming the PA to align with Palestinian aspirations for an independent, sovereign state based on the 1967 borders, with Jerusalem as its capital. Saudi Arabia criticizes Hamas for obstructing peace efforts and deepening divisions, advocating for its sidelining through progressive disarmament and international agreements. The kingdom also aims to enhance the PA’s governance by combating corruption, improving efficiency, and ensuring broader representation of Palestinian factions. Financial and technical support will be provided to help the PA deliver essential services, though specific funding details remain undisclosed. The plan includes organizing regional workshops and conferences to facilitate Palestinian national dialogue and integrate factions under the PA’s umbrella. Notably, the document does not mention Israel or specify whether Hamas will be included in these efforts. The report, dated September 29, aligns with Saudi Foreign Minister Prince Faisal bin Farhan’s call at the UN General Assembly for immediate international action to halt the conflict in Gaza. Earlier efforts by Saudi Arabia and France to broker a settlement included proposals for an international security force and Israeli-Palestinian dialogue. While the U.S.-brokered ceasefire in October incorporated some elements of this plan, Saudi Arabia and the UAE expressed dissatisfaction with their limited roles. As the region’s wealthiest states, they are expected to fund much of Gaza’s humanitarian relief and reconstruction. Meanwhile, U.S. efforts to normalize Saudi-Israeli relations face resistance, with Israeli Finance Minister Bezalel Smotrich rejecting any deal contingent on the establishment of a Palestinian state.
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Ajman Bank posts 32% surge in profit before tax for first nine months of 2025
Ajman Bank has announced a remarkable financial performance for the first nine months of 2025, with profit before tax soaring by 32% year-on-year to Dh414 million. This impressive growth underscores the bank’s operational strength and strategic focus on sustainable development. The results were reviewed during a Board of Directors meeting led by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank. Profit after tax also saw a substantial increase, rising 31% to Dh380 million. Total operating income reached Dh1.2 billion, while net operating income stood at Dh660 million, reflecting robust performance across the bank’s core business segments. Ajman Bank’s total assets grew by 23% since the end of 2024, reaching Dh28.0 billion, driven by a 20% increase in total financing to Dh18.5 billion. Customer deposits rose 14% to Dh20.6 billion, and shareholders’ equity increased 8% to Dh3.4 billion, highlighting the bank’s stable funding base and balance sheet expansion. Key financial metrics also improved, with Return on Equity (ROE) rising to 15.6% and Return on Assets (ROA) improving to 2.0%. The bank’s asset quality strengthened significantly, with the Non-Performing Loans (NPL) Ratio dropping to 7.7% and the Real Estate Ratio declining to 31.9%. Mustafa Al Khalfawi, CEO of Ajman Bank, emphasized the bank’s commitment to enhancing efficiency, optimizing its balance sheet, and expanding its digital ecosystem to drive sustainable growth. The bank also reaffirmed its dedication to Ajman Vision 2030 and the UAE’s broader economic transformation goals, including its Dh4 billion Sustainable Finance pledge by 2030 and Net Zero Emission target by 2050.
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Israeli minister regrets ‘unfortunate’ remarks about Saudi Arabia
Israeli Finance Minister Bezalel Smotrich has expressed regret over his controversial comments about Saudi Arabia, describing them as ‘unfortunate.’ In a video statement posted on X, Smotrich acknowledged the potential offense caused by his earlier remarks, in which he suggested that Saudi Arabia could ‘keep riding camels’ if it demanded an independent Palestinian state as a condition for normalizing relations with Israel. However, he also emphasized that he expects Saudi Arabia to refrain from offending Israel in return. Smotrich, a staunch advocate for annexing the occupied West Bank, reiterated his belief in Israel’s deep historical connection to the region, referring to it by its biblical names, Judea and Samaria. His comments sparked widespread criticism within Israel, with opposition leader Yair Lapid condemning the remarks and asserting that Smotrich does not represent the state. Former defense minister Benny Gantz also criticized Smotrich, accusing him of ignorance and a failure to understand his responsibilities as a senior government official. Saudi Arabia’s normalization talks with Israel, which were frozen following Hamas’s October 2023 attack and the subsequent Gaza war, remain a contentious issue in the region. The UAE, Bahrain, and Morocco normalized relations with Israel in 2020 under the US-brokered Abraham Accords, but Saudi Arabia has yet to follow suit.
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Trump says would pull US support if Israel annexes West Bank
In a recent interview with Time magazine, former U.S. President Donald Trump issued a stark warning to Israel, stating that the United States would withdraw its crucial support if Israel proceeds with the annexation of the occupied West Bank. Trump emphasized that such a move would violate his commitments to Arab nations, which have been pivotal in fostering regional stability. ‘It won’t happen. It won’t happen because I gave my word to the Arab countries. And you can’t do that now. We’ve had great Arab support,’ Trump asserted. He further stressed, ‘Israel would lose all of its support from the United States if that happened.’
Trump also expressed optimism about Saudi Arabia joining the Abraham Accords, a series of agreements normalizing relations between Israel and Arab states, by the end of the year. ‘Yes, I do. I do,’ he replied when questioned about Riyadh’s potential involvement. He highlighted the resolution of Israel’s conflicts in Gaza and Iran’s nuclear program as key factors enabling this diplomatic progress.
Additionally, Trump revealed that he is considering whether Israel should release Marwan Barghouti, a prominent Palestinian prisoner from the Fatah movement, as part of broader peace efforts. Barghouti’s release has been a contentious issue in recent negotiations.
Meanwhile, U.S. Vice President JD Vance and Secretary of State Marco Rubio have both cautioned Israel against annexation, with Vance labeling it a ‘very stupid political stunt’ and Rubio warning that such actions could jeopardize the fragile Gaza ceasefire. Despite these warnings, Israeli lawmakers have advanced bills that could pave the way for annexation, raising concerns about the future of U.S.-Israel relations and regional stability.
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‘The mafia ain’t what it used to be’ – FBI’s gambling case highlights mob’s evolution
In a dramatic revelation that could rival a Hollywood script, U.S. authorities have exposed two sprawling illegal sports betting operations, describing them as \”reminiscent of a Hollywood movie.\” The schemes, allegedly involving NBA stars, high-tech cheating devices, and the American-Sicilian mafia, led to the arrest of 31 individuals across 11 states. The case highlights the mafia’s evolution from its violent 20th-century heyday to modern-day rackets focused on gambling, securities fraud, and online scams.
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X-ray tables, high-tech glasses and NBA players: How a poker scheme allegedly stole millions
In a scandal reminiscent of a Hollywood thriller, an intricate poker gambling scheme orchestrated by the mafia has been exposed, ensnaring celebrities, professional athletes, and wealthy gamblers. The operation, which began as early as 2019, allegedly employed advanced technology, including X-ray card tables, secret cameras, and rigged shuffling machines, to cheat victims out of millions of dollars. According to federal prosecutors, the scheme was masterminded by members of notorious crime families such as Bonnano, Gambino, Luchesse, and Genovese, who used the profits to fund their criminal enterprises. The victims, referred to as ‘fishes,’ were lured into high-stakes games by former professional athletes, who acted as ‘face cards’ to entice them. Unbeknownst to the players, everyone involved—from dealers to the technology itself—was part of the scam. Sophisticated wireless communication methods were used to relay information to conspirators, ensuring the victims had no chance of winning. The scheme, which spanned New York, Miami, Las Vegas, and other cities, was dismantled in a federal investigation leading to over 30 arrests, including NBA coach Chauncey Billups and former player Damon Jones. Authorities estimate that victims lost tens or hundreds of thousands of dollars per game, with one individual reportedly losing $1.8 million. The funds were allegedly laundered through cryptocurrency, cash exchanges, and shell companies. FBI Assistant Director Christopher Raia described the scheme as ‘mind-boggling,’ emphasizing its exploitation of both notoriety and wealth to finance organized crime.
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The mysterious owner of a ‘scam empire’ accused of stealing $14bn in crypto
At just 37 years old, Chen Zhi, a Cambodian tycoon with a baby-faced appearance, stands accused of orchestrating one of the largest cyber-fraud operations in history. The U.S. Department of Justice has charged him with running scam compounds in Cambodia that allegedly stole billions in cryptocurrency from victims worldwide. In a landmark move, the U.S. Treasury Department seized over $14 billion in bitcoin linked to him, marking the largest cryptocurrency seizure ever. Despite these allegations, Chen’s company, the Cambodian Prince Group, portrays him as a respected entrepreneur and philanthropist. Born in China’s Fujian province, Chen moved to Cambodia in the early 2010s, capitalizing on the country’s real estate boom fueled by Chinese investment and the Belt and Road Initiative. He quickly amassed wealth, founding the Prince Group in 2015, which expanded into banking, aviation, and luxury property development. Chen’s rise was marked by his acquisition of Cambodian citizenship, Cypriot and Vanuatu passports, and high-profile connections, including advisory roles to Cambodia’s political elite. However, his empire began to unravel in 2019 when Cambodia’s online gambling ban, prompted by pressure from China, led to a mass exodus of Chinese nationals and a collapse in property values. U.S. and UK investigations allege that Chen’s wealth stemmed from online fraud, human trafficking, and money laundering, with sanctions now targeting 128 companies and 17 individuals linked to his operations. Despite his philanthropic image, Chen remains an enigmatic figure, having disappeared from public view since the sanctions were announced. The case has raised questions about Cambodia’s tolerance of scam businesses and the global financial systems that enabled Chen’s alleged crimes.
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Dublin asylum hotel protest peaceful after two nights of disorder
A tense atmosphere has enveloped the Citywest Hotel in Dublin, which serves as temporary housing for asylum seekers, following two nights of violent protests. The unrest, which began on Tuesday, saw approximately 2,000 protesters gather in response to an alleged sexual assault of a young girl in the area earlier in the week. The protest escalated into hours of sustained rioting, with stones and fireworks hurled at police officers and a Garda vehicle set ablaze. Seven individuals were arrested, and five were charged with public order offenses. Irish Justice Minister Jim O’Callaghan issued a stern warning, emphasizing that any recurrence of violence would be met with a forceful response. On Thursday, the situation appeared calmer, with around 100 people assembling at the hotel entrance for a peaceful demonstration before dispersing by 21:30 local time. Gardaí maintained a heavy presence throughout the day, ensuring order. O’Callaghan reiterated that while people have the right to protest and oppose government policies, violence and lawbreaking are unacceptable. The hotel complex houses families, including schoolchildren, under Ireland’s international protection program. Garda Commissioner Justin Kelly condemned Tuesday’s violence as ‘unacceptable’ and vowed to respond robustly to any future disturbances. On Wednesday, the disorder continued but at a reduced intensity, with three officers injured and 24 people arrested, including 17 adults charged with public order offenses and five juveniles referred to a youth diversion program. Authorities noted that most participants were young adult males and teenagers.
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Europe aerospace firms team up in space to counter Musk
In a landmark move to counter the growing influence of Elon Musk’s Starlink, Europe’s leading aerospace companies—Airbus, Thales, and Leonardo—have announced a preliminary agreement to merge their satellite manufacturing and services operations. The new France-based venture, set to launch in 2027, marks the most significant consolidation of European aerospace assets since the formation of MBDA, the missile manufacturer, in 2001. The collaboration, codenamed ‘Project Bromo,’ aims to create a formidable competitor in the global space industry. The combined entity is projected to employ 25,000 people and generate €6.5 billion ($7.58 billion) in revenue, based on 2024 figures. The venture is expected to yield ‘mid-triple digit’ millions of euros in synergies within five years, though specific strategies remain undisclosed. French Finance Minister Roland Lescure emphasized that the deal would ‘strengthen European sovereignty in a context of intense global competition.’ The agreement comes after months of negotiations, overcoming hurdles related to governance and valuation. Airbus will hold a 35% stake, with Thales and Leonardo each retaining 32.5%, ensuring a balanced governance structure. The merger will integrate Thales Alenia Space, Telespazio, and various Airbus space and digital businesses, alongside remaining space activities of Leonardo and Thales SESO. While the companies have already reduced 3,000 jobs in their space divisions, executives have shifted focus to potential growth opportunities. The deal faces up to two years of discussions with governments, unions, and the European Commission, with implications for operations in Britain, Germany, Italy, and France. Thales CFO Pascal Bouchiat acknowledged the challenges ahead, particularly in the telecoms sector, despite securing an initial contract for the new European satellite network, IRIS². The announcement follows Reuters’ earlier report of a framework agreement, which was salvaged after overcoming governance disputes. Executives have pledged to avoid rotating leadership or nationality-based appointments, which have historically caused friction in the European aerospace industry.
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UAE: How surfers take on world’s longest wave in Abu Dhabi
The Surf Abu Dhabi Longboard Classic 2025 has drawn the world’s top surfers to Hudayriyat Island, where they are set to tackle the planet’s longest and most advanced artificial wave. This prestigious event, running from October 24 to 26, marks the final stop of a three-part global longboard tour, hosted at what organizers describe as the most sophisticated surf facility ever built. Among the competitors are two-time world champion Taylor Jensen, defending champions Stevie Sawyer and Alice Lemoigne, and American world champion Rachel Tilly, who praised the UAE venue as a unique experience unmatched anywhere else.