A Lebanese judge has ordered the release of Hannibal Gaddafi, son of the late Libyan leader Moamer Gaddafi, on a $11 million bail after nearly a decade of pre-trial detention. The decision, announced on Friday, also includes a travel ban. Gaddafi was arrested in 2015 on allegations of withholding information about the disappearance of Lebanese Shiite cleric Mussa Sadr, who vanished during a visit to Libya in 1978. Despite his release, Gaddafi’s lawyer, Laurent Bayon, criticized the bail as “totally unacceptable” in a case of arbitrary detention, citing international sanctions that prevent his client from accessing such funds. Bayon vowed to challenge the decision. Gaddafi, now 49, has faced significant health issues, including severe depression and recent hospitalization for abdominal pain. His prolonged detention has drawn criticism from Human Rights Watch, which called for his immediate release in August, citing unsubstantiated allegations. The case has strained relations between Lebanon and Libya, with Beirut blaming Moamer Gaddafi for Sadr’s disappearance. Hannibal Gaddafi, married to Lebanese model Aline Skaf, fled to Syria after the 2011 Libyan uprising and was later kidnapped and brought to Lebanon. His name has also surfaced in the case of former French President Nicolas Sarkozy, who was convicted of accepting illegal campaign funds from Moamer Gaddafi. French investigations revealed attempts to corrupt Lebanese judges to secure Hannibal’s release and clear Sarkozy’s name. The case remains a complex web of international intrigue and unresolved tensions.
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How nervous are investors about the stock market?
US financial markets have been grappling with persistent volatility in recent weeks, driven by a mix of sector-specific concerns and broader economic uncertainties. The latest wave of anxiety emerged from the banking sector, as two regional lenders warned of potential losses due to alleged fraud. This follows earlier market turbulence sparked by renewed US-China tensions over tariffs, advanced technology, and access to rare earths. Additionally, the bankruptcies of car parts supplier First Brands and subprime car lender Tricolor in September further fueled investor unease. Despite these challenges, major US stock indexes have shown resilience, with the S&P 500 posting a 13% gain year-to-date, albeit lower than 2024’s performance. Sam Stovall, chief investment strategist at CFRA Research, attributes this strength to improved corporate profits and the burgeoning enthusiasm surrounding artificial intelligence (AI). However, the market’s robust performance has paradoxically heightened concerns about overvaluation. Analysts have increasingly warned of a potential AI bubble, with major players investing heavily in the sector without clear long-term profitability. The Bank of England, JP Morgan Chase CEO Jamie Dimon, and US Federal Reserve Chair Jerome Powell have all echoed these concerns, emphasizing the risk of a sharp market correction. The International Monetary Fund (IMF) also highlighted complacency in its recent financial stability report, citing trade tensions, geopolitical uncertainty, and rising sovereign debt as key risks. Despite these warnings, many investors remain optimistic. Analysts at Goldman Sachs and Wells Fargo have raised their year-end forecasts for the S&P 500, while David Lefkowitz of UBS Global Wealth Management anticipates the index to reach around 6,900 points, a 4% increase from current levels. Lefkowitz noted that while fraud allegations in the banking sector are concerning, overall default levels remain healthy, and AI demand shows no signs of waning. Stovall, however, cautioned that while the current bull market has been resilient, corrections and bear markets are inevitable, even if delayed. With sticky inflation and political uncertainties in Washington, the market rally remains ‘unloved,’ yet investors continue to navigate the complexities of an evolving economic landscape.
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US captures two survivors after attack on Venezuela ‘drug sub’
In a recent escalation of tensions between the United States and Venezuela, President Donald Trump confirmed a U.S. military strike on a vessel in the Caribbean, which he described as a ‘drug-carrying submarine.’ The attack, which occurred on Thursday, marks at least the sixth U.S. operation targeting Venezuelan ships in recent weeks. This incident is notable for being the first to report survivors, who were allegedly rescued by a U.S. military helicopter and are now detained aboard a Navy ship. The U.S. government has yet to officially confirm the presence of survivors. Trump defended the operation, stating, ‘We attacked a submarine built specifically for transporting massive amounts of drugs. This was not an innocent group of people.’ U.S. Secretary of State Marco Rubio echoed Trump’s stance, labeling the targets as ‘narco-terrorists.’ The attack has drawn international scrutiny, with UN-appointed human rights experts condemning the strikes as ‘extrajudicial executions.’ Venezuela’s UN Ambassador Samuel Moncada called for UN Security Council intervention, describing the U.S. actions as ‘massacres.’ Meanwhile, Venezuelan President Nicolás Maduro accused Trump of attempting to turn Venezuela into ‘an American colony.’ The U.S. has significantly increased its military presence in the Caribbean, with approximately 10,000 troops stationed in the region, raising fears of a potential invasion. Trump has also authorized CIA covert operations in Venezuela and hinted at possible attacks on Venezuelan soil. The use of ‘narco-subs,’ homemade vessels designed to transport drugs undetected, has become a growing concern, with the U.S. and other coastal nations intercepting several in recent years.
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Incentives and attractions abound in Armenia
Armenia is increasingly becoming a favored destination for Gulf tourists and investors, offering a unique blend of cultural richness, natural beauty, and business opportunities. With visa-free access for Gulf residents and expanding flight connections, the country is positioning itself as a year-round destination for leisure and business travelers alike. Lusine Gevorgyan, Chairperson of the Tourism Committee of Armenia, emphasized the country’s strengths: ‘We don’t have oil or gas, but we have people. Our people are our greatest treasure. We enjoy over 300 sunny days a year, even in winter, which makes our country attractive for both leisure and business travelers.’ Armenia’s tourism strategy for 2026–2030 focuses on cultural heritage, gastronomy, agritourism, and adventure tourism, building on its reputation as a safe, family-friendly destination. The country boasts over 10 UNESCO-recognized heritage sites and is known for its vibrant nightlife and safety. ‘In Armenia, it’s common to leave your bag or phone at a café table without any worries — no one touches it,’ Gevorgyan noted. The Tourism Committee has been deepening ties with Gulf nations, with visa-free entry for Gulf residents and new flight routes enhancing accessibility. Direct flights from Abu Dhabi launched in June, and Armenia is working with Fly One Armenia to expand routes to both Europe and the Gulf. Armenia is also emerging as a medical tourism hub, thanks to highly trained doctors, affordability, and growing international visibility. The country is developing a digital platform called Bridge, which will connect doctors, tour operators, patients, lawyers, and insurers, offering an all-in-one service with a single agreement and price. ‘Armenia is closer and more cost-effective than countries like Germany, yet offers excellent care in fields like dentistry, implantology, and cosmetic surgery,’ Gevorgyan explained. Wellness tourism is another area of focus, with regional hubs like Dilijan developing into world-class destinations. Public-private partnerships are driving Armenia’s tourism boom, with a $100 million loan agreement with the World Bank and an additional $20 million from the government aimed at improving roads, utilities, public restrooms, and tourism infrastructure. Unique tourism experiences, such as the new winter sports hub in Aragatsotn and the Myler Mountain Resort, are attracting international investors. Tax incentives further encourage foreign investment, with tax-free zones for tourism infrastructure projects. Armenia’s thriving tourism industry is underpinned by a business-friendly climate, with the ability to register a company online in under an hour. Enterprise Armenia, the country’s investment promotion agency, supports international investors through every stage of development. With its ancient monasteries, clean mountain air, safe family-friendly environment, and innovative approach to investment, Armenia is rapidly becoming a preferred destination for Gulf travelers and global investors. ‘Our food is fresh, clean, and eco-friendly. We are proud of our ecotourism potential, especially in our villages, where nature remains untouched,’ Gevorgyan concluded.
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Celebrate Diwali with Big Ticket’s 24-karat gold bar giveaways and more
As the festive season of Diwali approaches, Big Ticket is set to elevate the celebrations with a series of exciting giveaways and grand prizes. This year, the renowned lottery platform is offering participants the chance to win 24-karat gold bars, alongside a massive Dh25 million grand prize. The promotion, which runs throughout October, will see five winners each week take home a 250-gram gold bar, culminating in a total of 20 lucky recipients by the end of the month. The grand prize draw is scheduled for November 3, adding to the anticipation and excitement of the festival of lights. Additionally, customers who purchase two tickets between October 1 and 24 will be automatically entered into The Big Win Contest, where four participants will win cash prizes of up to Dh150,000. The winners’ names will be announced on the official Big Ticket website on November 1. For car enthusiasts, the Dream Car series offers even more reasons to celebrate, with a Nissan Patrol up for grabs on November 3 and a Maserati Grecale on December 3. Tickets are available online at www.bigticket.ae or at counters located in Zayed International Airport and Al Ain Airport. This Diwali, Big Ticket is bringing together gold, grand prizes, and dream cars to create a season full of joy and anticipation.
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Emirates Loves India: Free entry, venue, timings; all you need to know
Dubai is set to host a spectacular celebration of Indian culture with the ‘Emirates Loves India’ event, scheduled for October 26, 2025, at Zabeel Park. This grand cultural extravaganza, organized in collaboration with the UAE Government Media Office, aims to bring the vibrant energy and rich traditions of India to the heart of Dubai. The event will feature live performances by renowned Indian artists, including Neha Kakkar, Mika Singh, and Neeraj Madhav, alongside a colorful cultural parade by IPF, delectable Indian cuisine, and engaging exhibitions. Additionally, a dedicated kids’ zone will ensure entertainment for all age groups. Cultural stalls representing various Indian states will showcase over 30 regional cuisines, offering a culinary journey across India. Entry to the event is free, but attendees must register in advance via a WhatsApp link available on the event’s Instagram profile. The celebration also includes an evening of panel discussions and networking with prominent Indian influencers, further strengthening the cultural ties between India and the UAE. With over 4.36 million Indians residing in the UAE, this event underscores the deep-rooted relationship between the two nations, built on trust, shared vision, and mutual growth.
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FBIS 2025 illuminates Dubai with a global celebration of innovation and leadership
The Future Billionaire Investor Summit (FBIS) 2025, hosted by Unified Brainz Virtuoso Ltd., transformed Dubai into a global hub of innovation and leadership. Held at the opulent Millennium Plaza Downtown Dubai, the event convened an illustrious assembly of visionaries, investors, diplomats, and changemakers from around the world, all driven by a shared mission to shape the future of global enterprise. The summit commenced with a ceremonial opening featuring the UAE and Indian national anthems, followed by a lamp-lighting and Ganesh Stuti ritual led by Dr G D Singh, founder and president of Unified Brainz, and Dr Neetu Singh, managing director. This symbolic act signified the dawn of new opportunities and cross-border collaborations. In his keynote address, Dr Singh articulated his vision of a borderless ecosystem where passion, purpose, and excellence converge. The event featured insightful speeches from global leaders, including Dr High Prince Leye Babalola, Dr Omar Al Marzooqi, and Countess Elena De Bacci, who emphasized sustainability, innovation, and collaboration as the cornerstones of future business success. Highlights included the signing of an MoU for the AACCI Philippines Chapter, the launch of the Passion Vista Anthem, and the unveiling of the book “Passion & Compassion – Living, Leading, and Leaving a Legacy” by Dr Singh and Aalia Singh Marwah. Two panel discussions, focusing on strategic investment trends in the GCC and the integration of innovation, purpose, and profit in a borderless business world, sparked meaningful dialogue among attendees.
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UAE gears up for Diwali : Major retailers roll out festive offers
The United Arab Emirates is ablaze with the vibrant spirit of Diwali, the ‘Festival of Lights,’ as the nation prepares for one of the most cherished celebrations in the Indian calendar. From dazzling rangoli displays to aisles overflowing with traditional sweets, ethnic attire, and festive decorations, the UAE’s retail landscape has transformed into a Diwali wonderland. Major retailers, including hypermarket giant Lulu, have rolled out an array of exclusive offers, catering to every aspect of the celebration. Shoppers can explore a diverse range of Indian delicacies, decorative diyas, home décor essentials, and ethnic fashion collections, all designed to enhance the festive experience. Beyond traditional items, categories such as home appliances, electronics, and mobile phones are also illuminated with attractive deals. For those seeking convenience, Lulu’s Diwali-themed gift cards offer a thoughtful and flexible gifting solution. Salim M A, Lulu’s global operations director, emphasized the retailer’s commitment to making festive shopping seamless and joyful, highlighting the expanded Diwali range across food, fashion, home essentials, and gifting. Beyond retail, Indian associations across the UAE are hosting cultural events and community programmes, fostering unity and adding to the festive atmosphere. As Diwali brings communities together in a celebration of light, joy, and tradition, the UAE’s vibrant retail and cultural scene ensures that everyone can partake in the festivities with style and enthusiasm.
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How Indian fine jewellery is finding a new home in the Gulf
Indian fine jewellery brands are increasingly turning their attention to the Gulf region, driven by higher demand for their vibrant, handcrafted, and meaningful designs, particularly during the festive season of Diwali. This strategic pivot comes as brands seek to escape the challenges posed by tumultuous trade relations and high tariffs in the US market.
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Bloom-backed Hearts out to shatter Scottish football’s ‘glass ceiling’
Hearts of Midlothian, a fan-owned Scottish Premiership club, are making waves in Scottish football under the guidance of Brighton owner Tony Bloom. After seven games, Hearts sit atop the league table, two points clear of Celtic and 11 ahead of struggling Rangers. This marks a potential shift in the long-standing dominance of the Glasgow giants, who have controlled Scottish football for over four decades. Bloom, a professional gambler turned football strategist, has invested £10 million for a 29% stake in Hearts, while the Foundation of Hearts retains majority control. His data-driven approach, through his firm Jamestown Analytics, has already yielded results, with new recruits Claudio Braga and Alexandros Kyziridis shining in an unbeaten start to the season. Bloom’s success with Brighton, transforming them from the English third tier to the Premier League, and his role in Union Saint-Gilloise’s rise to the Champions League, provide a blueprint for Hearts’ ambitions. The club’s fan ownership model, established in 2021, has fostered a sense of unity and self-belief. Despite financial disparities—Celtic’s £144 million turnover dwarfs Hearts’ resources—the Edinburgh club believes Bloom’s expertise can help them outsmart their rivals. With Rangers in turmoil and Celtic facing fan discontent, Hearts see an opportunity to break the glass ceiling and challenge for their first title since 1960.