The Dutch government has decided to suspend its intervention at Nexperia, a Chinese-owned semiconductor manufacturer based in the Netherlands, following constructive discussions with Chinese authorities. The initial action, taken in September under the Goods Availability Act, was prompted by concerns over ‘serious governance shortcomings’ and potential disruptions to Europe’s semiconductor supply chain, particularly for automotive and electronic industries. In response, China imposed export restrictions on Nexperia’s chips, escalating tensions between the two nations. However, on Wednesday, the Dutch government announced the suspension of its decision, citing progress in bilateral talks. China welcomed the move, describing it as a ‘first step in the right direction.’ Nexperia, a critical supplier of basic computer chips to the global automotive sector, plays a pivotal role in maintaining supply chains. The Dutch intervention had raised fears of exacerbating the ongoing global chip shortage, which has already strained manufacturing capabilities worldwide. Economic Affairs Minister Vincent Karremans emphasized the importance of further dialogue with China, praising Beijing’s efforts to ensure chip supply to Europe and beyond. The Dutch government had initially acted due to concerns over alleged mismanagement by Nexperia’s former CEO, Zhang Xuezheng, who was accused of improperly transferring assets, technology, and knowledge to a foreign entity. A Dutch court had ordered Zhang’s removal in October, citing these allegations. The suspension of the Dutch intervention is expected to ease tensions between the European Union and China, which have been strained by trade disputes and China’s relationship with Russia. However, Beijing noted that the decision ‘still falls short of addressing the root cause of the global semiconductor supply chain turmoil.’ Wingtech, Nexperia’s parent company, has vowed to challenge the Dutch court’s ruling, which stripped it of control over Nexperia. The case highlights the growing geopolitical complexities surrounding the semiconductor industry, a sector critical to global economic stability.
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Dubai World Cup 2026 tickets now on sale, prices start from Dh40
The highly anticipated Dubai World Cup 2026, set to take place on March 28 at the Meydan Racecourse, has officially opened ticket sales. Horse racing enthusiasts can secure their spots at this prestigious event at discounted early bird rates until December 31, 2025. General admission tickets, starting at Dh40 when purchased online, grant access to expansive public areas and live entertainment, making it an affordable option for fans. The event, celebrating its 30th anniversary, will showcase nine world-class races with a combined prize pool of $30.5 million, attracting top horses, jockeys, and trainers globally. For those seeking a more luxurious experience, VIP packages are available, ranging from Dh280 for Apron Views tickets to Dh8,000 for exclusive dining experiences like The Parade Ring Restaurant by Madinat Jumeirah. New additions such as the Far Turn Terrace offer breathtaking views and international cuisine, while private hospitality suites cater to larger groups with premium amenities. With its blend of elite racing, gourmet dining, and unparalleled entertainment, the Dubai World Cup 2026 promises to be a landmark event on the global sporting calendar.
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‘New leap’: UAE, South Korea issue joint declaration during Lee Jae-myung visit
The United Arab Emirates (UAE) and South Korea have taken a significant step toward strengthening their bilateral ties with the issuance of a joint declaration during South Korean President Lee Jae-myung’s visit to Abu Dhabi. The declaration, described as ‘a new leap toward a shared journey for the next century,’ outlines expanded cooperation across several strategic sectors, including artificial intelligence (AI), semiconductors, civil nuclear energy, defence technology, water management, public health, and education. The agreement was reached during a meeting between President Lee and UAE President Sheikh Mohamed bin Zayed Al Nahyan. The two nations have committed to enhancing water innovation ahead of the 2026 UN Water Conference, improving healthcare through the establishment of a Pre-Post Care Center and a K-Medical Cluster, and fostering educational exchanges via training and youth programs. In the defence sector, the partnership will focus on joint development, technology collaboration, and localized production, emphasizing knowledge transfer and capacity building. Additionally, the UAE and South Korea will strengthen their collaboration in civil nuclear energy, particularly in nuclear fuel, maintenance, and digital transformation at the Barakah Nuclear Energy Plant. The two countries also plan to promote the Barakah model internationally and advance clean-energy goals through next-generation nuclear technologies and AI-driven efficiency improvements. A notable highlight of the partnership is the UAE’s involvement in the US-backed Stargate project, which aims to build a massive AI data campus in the Gulf region. The first phase, Stargate UAE, will be developed by UAE firm G42 in collaboration with US tech giants OpenAI, Oracle, Nvidia, and Cisco Systems, as well as Japan’s SoftBank Group. The joint declaration also outlines plans for a high-level inter-ministerial dialogue on responsible AI governance, cybersecurity, and semiconductor ecosystem resilience. Furthermore, the UAE and South Korea are exploring the establishment of ‘K-City,’ a hub designed to serve as a one-stop destination for Korean culture, food, and business in the Middle East. This initiative aims to position the UAE as the region’s cultural and economic gateway to South Korea.
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China’s premier ice-and-snow destinations poised for winter tourism frenzy
China’s premier ice-and-snow destinations are preparing for a surge in winter tourism, with Harbin leading the charge. The Harbin Ice-Snow World, the largest ice-and-snow theme park globally, is expanding its offerings for the upcoming season. Spanning 1.2 million square meters, the park will feature new attractions such as hot spring camps, cross-country skiing tracks, and themed parades. Enhanced smart tourism services and accessibility facilities aim to attract global visitors. Last season, the park welcomed over 3.56 million visitors, contributing significantly to the local economy. The city of Harbin, known as China’s ‘ice city,’ recorded 90.35 million visitors last winter, generating 137.22 billion yuan in tourist spending. Beyond Harbin, other regions like Mudanjiang, Jilin, and Altay are also capitalizing on their unique ice-and-snow resources. Mudanjiang’s China Snow Town opened with over 30 cultural and tourism activities, while Jilin plans to issue 100 million yuan in vouchers to boost winter tourism. Altay, leveraging its rich skiing heritage, will offer a nine-day ‘snow break’ for students, promoting nature connection and cultural inheritance. These initiatives align with China’s broader strategy to develop the ice-and-snow economy, targeting a 1.2 trillion yuan economic scale by 2027.
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Arsenal and Sobha Realty celebrate two years of partnership
Arsenal Football Club and Sobha Realty have proudly commemorated two years of their impactful global partnership, which has significantly enhanced the Sobha Realty Training Centre and reinforced their shared commitment to excellence both on and off the field. Since joining the Arsenal family in 2023 as a Principal Partner, Sobha Realty has secured naming rights to the training centre in London Colney and prominently featured its branding on the club’s training kits. Over the past two years, the collaboration has driven a series of transformative developments at the facility, including upgraded restaurant spaces, modernized dressing rooms, a dedicated building for the women’s first team, a refurbished media centre, and the addition of state-of-the-art sauna and steam facilities. The partnership also launched ‘The Art of Detail,’ a four-part series showcasing the meticulous behind-the-scenes efforts that enable players to perform at their peak. These initiatives underscore the shared vision of creating a high-performance environment that supports preparation and recovery. As the partnership enters its third year, both organizations remain committed to further elevating the training centre into a world-class facility. Ashish Parakh, Group Chief Sales and Marketing Officer at Sobha Realty, emphasized the synergy between the two entities, highlighting their shared values of excellence, precision, and innovation. Juliet Slot, Chief Commercial Officer at Arsenal, praised Sobha Realty’s role in supporting the club’s ambitions and creating an optimal environment for players and staff to excel.
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A Fairytale for Christmas is coming to Dubai for the first time! New Covent Garden, Mall of the Emirates
Dubai is set to host the enchanting Irish-inspired festive concert, ‘A Fairytale for Christmas,’ for the first time. The event will take place at New Covent Garden, Mall of the Emirates, from December 19 to 21, 2025. Presented by MAC Global in collaboration with Prestige Chameleon International, the concert promises a delightful mix of Christmas classics and traditional Irish music. Audiences can look forward to beloved holiday tunes like ‘Driving Home for Christmas,’ ‘Step into Christmas,’ and ‘Oh Holy Night,’ alongside Irish favorites such as ‘The Galway Girl,’ ‘The Irish Rover,’ and ‘Dirty Old Town.’
Creator and producer Ged Graham expressed his excitement about bringing the show to Dubai, stating, ‘The response to the production has been remarkable, and we’re pleased to bring it to Dubai as part of the world tour. The show combines festive music with Irish influences in a way that audiences have responded to warmly.’
The three-day event offers families and music enthusiasts a unique opportunity to experience a festive performance that seamlessly blends Christmas melodies with Irish folk traditions. Tickets for the concert start at AED 195 and are available for purchase on platinumlist.net.
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Watch: Moment a Gustav Klimt painting sells for record amount
In a historic moment for the art world, Gustav Klimt’s ‘Portrait of Elisabeth Lederer’ has shattered records, fetching an astounding $236.4 million (including fees) at auction. This monumental sale not only underscores the enduring allure of Klimt’s work but also cements the painting’s place as the second most expensive artwork ever sold at auction. The event has sparked widespread discussion among collectors, historians, and enthusiasts, highlighting the timeless value of masterpieces from the early 20th century. The sale reflects the growing appetite for high-caliber art in the global market, as well as the cultural and historical significance attributed to Klimt’s oeuvre. This record-breaking transaction is poised to influence future art auctions, setting a new benchmark for the valuation of iconic works.
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Europe could get Cypriot natural gas by 2027, president says
Cyprus is poised to play a pivotal role in Europe’s energy security, with plans to export natural gas from its offshore reserves to European markets as early as 2027. President Nikos Christodoulides announced this ambitious timeline during an energy conference, highlighting the Cronos deposit as the first source of exportable gas. Operated by a consortium of Italian energy giant Eni and French company TotalEnergies, the Cronos project is expected to make its final investment decision in 2024. The gas will be transported to Egypt’s Damietta port for liquefaction before being shipped to Europe. Christodoulides emphasized Cyprus’s strategic importance as an alternative energy corridor in the Eastern Mediterranean, aligning its interests with powerful states to bolster regional energy security. Cypriot Energy Minister George Papanastasiou described the 2027 target as “optimistic but achievable,” citing the proximity of existing infrastructure connecting Cronos to Egypt’s Zor deposit, located just 80 kilometers away. Additionally, plans are underway to develop the Aphrodite deposit, where a floating processing plant will convert hydrocarbons into dry gas for direct consumption in Egypt or export to Europe. This project involves a partnership between Chevron, Shell, and Israel’s NewMed Energy. Christodoulides also revealed plans to visit Lebanon next week to discuss energy cooperation, as unresolved maritime border disputes have hindered exploration in adjacent waters. Meanwhile, ExxonMobil and QatarEnergy are exploring two blocks off Cyprus’s southern coast, where significant discoveries like the Glaucus and Pegasus deposits have been made, further solidifying Cyprus’s position as a key player in the global energy landscape.
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Dubai announces Eid Al Etihad holiday for public sector
Dubai has declared a two-day holiday for public sector employees in celebration of the UAE’s 54th Eid Al Etihad, observed nationwide on December 2, 2025. Government workers in Dubai will enjoy a four-day break, combining the holiday with the weekend on December 1 and 2. However, entities providing essential public services or operating on rotating shifts are exempt from this holiday. These organizations are authorized to adjust working hours to ensure uninterrupted service delivery during the festive period. The decision, outlined in a circular by the Dubai Government Human Resources Department, emphasizes maintaining operational efficiency while allowing most employees to partake in the celebrations. Earlier this week, the UAE announced a four-day break for government employees to mark the National Day, now referred to as Eid Al Etihad. In Sharjah, public sector employees will benefit from a five-day holiday due to their standard three-day weekend. Similarly, private and public school students in Sharjah will enjoy an extended break, while those in other emirates will have a four-day holiday. Official working hours across the UAE will resume on Wednesday, December 3.
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Brazil’s Lula joins negotiators at UN climate talks, but no deal yet on major issues
At the COP30 United Nations climate summit in Belem, Brazil, President Luiz Inácio Lula da Silva called for urgent global action to reduce reliance on fossil fuels, emphasizing the need for a collective transition to renewable energy. Despite his presence and that of UN Secretary-General António Guterres, progress on key issues remains slow, with negotiators missing self-imposed deadlines. Lula, flanked by Brazilian negotiators and his wife, stressed the existential threat of climate change, stating, ‘We haven’t found another place to live.’ He advocated for a flexible approach, allowing countries to transition at their own pace while receiving financial support. COP30 President André Corrêa do Lago had set a Wednesday deadline for decisions on four critical issues: toughening climate plans, distributing $300 billion in climate aid, addressing trade barriers, and improving transparency. However, negotiations have yet to yield concrete outcomes. Scientists criticized the proposed fossil fuel phaseout road map as inadequate, urging a more detailed and actionable plan. Lula also promoted the Tropical Forests Forever Facility, a multibillion-dollar fund aimed at incentivizing forest conservation. Despite the challenges, experts like Neil Grant of Climate Analytics remain hopeful, asserting that existing tools can still achieve the Paris Agreement’s goals. Over 110 climate action plans were celebrated at the summit, highlighting ongoing efforts to implement past agreements. COP30 Climate Champion Dan Ioschpe emphasized the importance of real-world implementation, particularly in industries like aviation, maritime, and agriculture. A new initiative aims to secure $1 trillion in investments to upgrade global electricity grids, renewable energy storage, and biofuel production.