The Dubai Airshow, a global aviation spectacle, was marred by tragedy when a Tejas jet crashed during a display, resulting in the death of Wing Commander Namansh Syal, a highly skilled pilot from the Indian Air Force. Syal, a member of the No. 45 Squadron, the Flying Daggers, based at Sulur Air Base, was renowned for his exceptional flying skills, having captivated audiences at Aero India and numerous national airshows. The fatal incident occurred during an eight-minute aerial stunt when the jet nosedived, casting a somber shadow over the event and leading to a two-hour suspension of other displays. Witnesses have since shared videos of the final moments on social media, hoping to aid the investigation and pay tribute to the fallen pilot. Among them is Abdur Rahim, an ex-journalist turned plane videographer, who decided to post the footage publicly, believing it could assist in the inquiry. Dubai-based photographer Asif Ali also shared stunning images of the HAL Tejas LA-5026, highlighting the pilot’s incredible skill and confidence. The crash has left the aviation community in mourning, with many remembering Syal’s quiet confidence and professionalism. The incident underscores the inherent risks of aerial displays and the bravery of those who perform them.
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Stablecoins could siphon off euro zone bank deposits, ECB warns
The European Central Bank (ECB) has issued a stark warning about the growing influence of stablecoins, highlighting their potential to disrupt the financial stability of the euro zone. Stablecoins, digital assets designed to maintain a stable value, have surged in popularity, with their market value now exceeding $280 billion. While this figure remains relatively modest, the ECB emphasized that issuers of these coins have become significant buyers of U.S. Treasuries, raising concerns about their broader impact on global financial markets. In a recent Financial Stability Review article, the ECB noted that stablecoins are primarily used for trading crypto assets, accounting for approximately 80% of all transactions on centralized crypto trading platforms. The central bank warned that the rapid expansion of stablecoins could lead to significant outflows of retail deposits from euro zone banks, undermining a crucial funding source and increasing overall funding volatility. The ECB also highlighted the risk of investor runs on stablecoins, particularly given that the two largest stablecoins are among the top holders of U.S. Treasury bills. A sudden sell-off of these reserve assets could destabilize U.S. Treasury markets, with potential ripple effects on the euro zone. Additionally, the ECB cautioned that joint issuance of stablecoins by EU and non-EU entities could exacerbate redemption risks, as EU regulations are stricter and investors may prefer EU-issued tokens. This could leave EU issuers with insufficient reserve assets to meet combined redemption demands, amplifying financial instability within the region.
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Philippines suspends classes on November 25 due to tropical depression Verbena
The Philippines has suspended classes across multiple regions on November 25 due to the impact of Tropical Depression Verbena, which made landfall in Bayabas, Surigao del Sur, at 1:30 PM local time on Monday. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) confirmed the storm’s arrival, prompting immediate precautionary measures. Regions affected include Bicol and Western Visayas, where educational institutions have either canceled classes or shifted to alternative learning modalities. Signal No. 1 has been raised in numerous areas across Luzon, Visayas, and Mindanao, indicating potential risks from strong winds and heavy rainfall. Authorities are urging residents to remain vigilant as the storm continues its trajectory. This suspension aims to ensure the safety of students and staff amidst the adverse weather conditions.
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China’s success in development empowers Global South: senior academic
China’s remarkable progress in modernization offers valuable lessons for other Global South nations, enabling them to amplify their influence on the international stage, according to a prominent academic. Justin Yifu Lin, honorary dean of the Institute of South-South Cooperation and Development at Peking University, emphasized that China’s achievements serve as a source of inspiration and confidence for developing countries. Speaking at the Global South Modernization Forum in Beijing, Lin highlighted how China’s four global initiatives empower these nations to strengthen their voice in global affairs. He argued that by adopting China’s development strategies, countries in the Global South can unlock their potential and achieve sustainable growth. The forum, held on Friday, brought together experts to discuss pathways for modernization and international collaboration among developing nations.
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Dubai Police warn residents after rise in fraud ‘investment opportunities’
Dubai Police have issued a stern warning to residents following a notable increase in fraudulent online ‘investment opportunities.’ These schemes, often advertised through social media and paid promotions, promise risk-free monthly returns of up to 10 percent. The Anti-Fraud Center at the General Department of Criminal Investigation has identified these offers as clear indicators of financial fraud. Scammers typically employ pyramid-style operations, using funds from new investors to pay earlier participants, creating a false sense of profitability before disappearing with the money. Authorities emphasized that guaranteed high returns are unrealistic in regulated investment environments and urged residents to verify the legitimacy of companies before investing. Suspicious activities should be reported via the eCrime platform or by calling 901. Dubai Police highlighted the importance of community awareness in combating financial fraud and protecting residents from falling victim to such schemes.
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Watch: First Lady Melania Trump welcomes the White House Christmas tree
The festive season at the White House officially commenced as First Lady Melania Trump welcomed the arrival of the official Christmas tree. The majestic 18.5-foot Fraser fir, sourced from West Virginia, was transported in grand style by a traditional green carriage drawn by two Clydesdale horses. The tree made its ceremonial entrance at the Portico of 1600 Pennsylvania Avenue, marking the beginning of holiday preparations at the presidential residence. Mrs. Trump, known for her elegant approach to White House traditions, personally oversaw the event, emphasizing the importance of family and togetherness during the holiday season. The tree will serve as the centerpiece of the White House decorations, which are expected to reflect a theme of unity and celebration. This annual tradition, steeped in history, continues to symbolize the warmth and joy of the holiday spirit in the nation’s capital.
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UK allowed arms exports to UAE after being told weapons given to RSF
The British government has come under scrutiny for approving weapons exports to the United Arab Emirates (UAE) despite evidence suggesting that UK-manufactured military equipment was diverted to Sudanese paramilitaries accused of genocide. Reports from last month revealed that British-made small-arms target systems and armored vehicle engines were found in the hands of the Rapid Support Forces (RSF), a militia group implicated in widespread atrocities in Sudan. Middle East Eye (MEE) had previously exposed the UAE’s extensive logistical and military support to the RSF. In March, the UN Security Council, of which the UK is a member, received allegations that the UAE supplied British-made arms to the RSF. Despite this, the UK continued to authorize military exports to the UAE. Official data released last week shows that Britain licensed £172 million ($225 million) in military equipment exports to the UAE between April and June 2024, including £1.9 million in military vehicles and components. Emily Apple of the Campaign Against Arms Trade (CAAT) condemned the exports, stating that the UK government is prioritizing arms dealers’ profits over accountability, despite clear evidence of war crimes in Gaza and Sudan. The Sudanese Armed Forces (SAF) compiled dossiers presented to the UN Security Council, containing images of British-made small-arms target devices recovered from RSF sites in Khartoum and Omdurman. These devices were reportedly manufactured by Militec, a Welsh-based company that has received numerous export licenses since 2013. Political parties and MPs across the UK have called for a suspension of arms sales to the UAE, citing international legal obligations. The RSF’s recent seizure of el-Fasher in Darfur has further highlighted the group’s brutal tactics, with reports of widespread civilian killings, sexual violence, and expulsions. The conflict in Sudan, which began in 2023, has seen the RSF accused of war crimes and genocide by international bodies and human rights groups.
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Updated peace plan could be a deal Ukraine will take – eventually
In a high-stakes diplomatic effort to broker peace in Ukraine, senior officials from the United States and Ukraine engaged in intense negotiations in Geneva over the weekend. The talks, which included national security advisers from Germany, France, and the UK, aimed to address a proposed peace deal that initially appeared heavily skewed in favor of Russia’s demands. The initial proposal, reportedly influenced by US President Donald Trump’s envoy Steve Witkoff, faced strong resistance from Kyiv, which refused to accept terms resembling surrender. Ukraine’s lead negotiator, Andriy Yermak, appeared visibly tense as discussions began, with US Secretary of State Marco Rubio forced to deny allegations that the draft was authored by the Kremlin. By Sunday night, Rubio announced ‘tremendous progress,’ though details remained vague. A joint Ukraine-US statement revealed an ‘updated and revised framework document,’ which reportedly incorporates significant amendments proposed by European allies. Key changes include the removal of an automatic veto on Ukraine’s future NATO membership, no permanent deployment of Western troops, and a commitment to recover occupied territories through diplomatic means. The revised plan also eliminates a full amnesty for war crimes and introduces security guarantees akin to NATO’s Article 5, a non-negotiable priority for Ukraine. German Chancellor Friedrich Merz described the deal as ‘significantly modified’ in a positive direction. However, skepticism remains, as Russia’s President Vladimir Putin shows no signs of conceding unless forced. Analysts suggest that while Trump’s push for a deal has injected momentum into peace efforts, the outcome may still fall short of Ukraine’s aspirations. The negotiations highlight the delicate balance between diplomatic progress and the enduring realities of the conflict.
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UK visa rules leave Palestinian scholars in limbo and their children stranded in Gaza
Faten Sweedan, a 30-year-old Unrwa school teacher from Gaza, recalls her 28th birthday on October 7, 2023, as a bittersweet memory. Celebrated just a day before the Hamas-led attack on Israel and the subsequent war on Gaza, her birthday marked the last moments of normalcy before her life was upended. Born on a date now synonymous with the onset of the Gaza genocide, Sweedan’s story is one of resilience amidst unimaginable loss and displacement.
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Etihad Airways to increase seats on route to Tokyo with new A380 service
Etihad Airways has unveiled plans to introduce its Airbus A380 aircraft on its route to Narita, Tokyo, starting June 16, 2026. This strategic move aims to cater to the surging demand for travel between the UAE and Japan, particularly during the peak summer season. The double-decker aircraft will operate flights between Zayed Abu Dhabi International Airport (AUH) and Narita International Airport (NRT), offering passengers enhanced capacity and a premium travel experience. The A380, renowned for its spaciousness and luxury amenities, including the world’s only three-room suite in the sky, will join Etihad’s existing A380 network, which currently serves London, Paris, Toronto, and Singapore. Arik De, Chief Revenue and Commercial Officer at Etihad Airways, emphasized the significance of this expansion, stating, ‘The A380 is ideally suited to this route, given the robust business and cultural ties between the UAE and Japan. This initiative reflects our commitment to meeting customer demand and enhancing connectivity.’ The increased capacity is expected to attract more Japanese travelers to Abu Dhabi, whether as a stopover or a destination in its own right, further strengthening bilateral tourism and economic relations.