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  • EFG Hermes tops LSEG MENA ECM Bookrunner rankings for second consecutive year

    EFG Hermes tops LSEG MENA ECM Bookrunner rankings for second consecutive year

    EFG Hermes, the premier investment banking institution within EFG Holding, has once again clinched the foremost position in London Stock Exchange Group’s (LSEG) MENA equity capital markets (ECM) bookrunner rankings for 2025. This achievement marks the second consecutive year the financial powerhouse has dominated the regional league tables, reinforcing its commanding presence across Middle Eastern and North African capital markets.

    LSEG’s comprehensive assessment methodology evaluates financial institutions based on two critical parameters: total capital proceeds raised throughout the assessment period and the aggregate number of successfully completed transactions. EFG Hermes demonstrated exceptional performance across both metrics during the 2025 review cycle.

    The investment bank’s transaction volume reached unprecedented levels with 12 completed ECM operations—precisely double the deal count of the second-ranked institution. These transactions spanned multiple regional exchanges including Tadawul, Nomu, Abu Dhabi Securities Exchange, Dubai Financial Market, Nasdaq Dubai, Muscat Stock Exchange, Bourse Kuwait, and the Egyptian Exchange.

    Mostafa Gad, Global Head of Investment Banking at EFG Hermes, emphasized that this industry recognition reflects the firm’s expanding regional footprint and enduring client relationships. “Our continued focus remains on executing sophisticated transactions that simultaneously advance client objectives while contributing to the broader development of MENA capital markets,” Gad stated, highlighting the institution’s unique capacity to navigate diverse regulatory environments.

    EFG Hermes established itself as the sole investment bank to execute ECM transactions across five key markets—Saudi Arabia, the UAE, Oman, Kuwait, and Egypt—during the assessment period. Beyond equity markets, the firm advised on 42 regional transactions encompassing 18 ECM deals, 16 debt capital market operations, and 8 mergers and acquisitions.

    The bank’s expertise extended across various ECM structures including initial public offerings, accelerated bookbuilds, and rights issues. Notable 2025 transactions included serving as sole financial advisor for the Jamjoom IPO in Saudi Arabia and joint global coordinator for the ADNOC Gas secondary offering—the largest placement in ADX history.

    Christopher Laing, Head of ECM at EFG Hermes Investment Banking, attributed the firm’s outstanding performance to its comprehensive research coverage and unparalleled access to institutional and family office investors throughout the region. The institution has maintained its position as the top trader on the Dubai Financial Market for eight consecutive years.

    This latest industry recognition solidifies EFG Hermes’ status as the preeminent equity capital markets facilitator in the MENA region amid sustained issuance activity across developing capital markets.

  • Watch: Empty shelves and road preparations as US readies for winter storm

    Watch: Empty shelves and road preparations as US readies for winter storm

    A formidable winter storm system is poised to unleash severe weather across vast portions of the United States, prompting urgent preparatory actions from millions of citizens. Meteorological authorities have issued grave warnings, indicating that over 160 million individuals, nearly half the nation’s population, are projected to confront perilous conditions characterized by heavy snowfall, significant ice accumulation from freezing rain, and dangerously low temperatures.

    In anticipation of the severe weather event, residents in affected regions have engaged in widespread stockpiling of essential supplies. Reports from numerous grocery stores depict a familiar scene of crisis preparation, with shelves once holding bread, milk, eggs, and bottled water now largely barren. This consumer behavior reflects deeply ingrained protocols for winter emergency readiness across many American communities.

    Simultaneously, transportation departments and municipal workers are executing comprehensive road treatment strategies. Crews are preemptively applying brine and salt mixtures to major highways and secondary roads in an effort to prevent ice bonding to pavement surfaces. Officials are strongly advising against all non-essential travel once the storm commences, warning that whiteout conditions and treacherous ice may render roads impassable.

    The impending storm’s significant magnitude underscores the substantial challenges that extreme weather events pose to public infrastructure and safety systems. The coordinated response between government agencies and civilian preparation highlights the ongoing adaptation to increasingly volatile winter weather patterns affecting populated areas.

  • ‘It was brutal’: BTS fans in UAE battle queues, scramble for tickets ahead of World Tour

    ‘It was brutal’: BTS fans in UAE battle queues, scramble for tickets ahead of World Tour

    Dubai witnessed unprecedented fan fervor as BTS announced their monumental world tour, triggering a digital ticket scramble that left thousands of ARMY members empty-handed despite meticulous preparations. The seven-member K-pop phenomenon’s upcoming tour spanning 34 cities with 79 performances represents the largest such undertaking by any K-pop artist in history.

    Ticket presales launched on January 22 at 3 PM UAE time through Weverse, the official artist-fan platform that previously crashed following the tour announcement. The process required advanced ARMY membership verification and identity confirmation, yet within seconds of queue opening, over 141,000 fans were competing for approximately 40,000 available seats at the venue.

    Emirati fan Sara Albalooshi described the experience as ‘totally terrifying, but also ridiculously thrilling,’ comparing her multiple alarms to ‘a countdown to a rocket launch.’ She coordinated across countries with her sister, a doctor who rearranged shifts, and successfully secured tickets for Paris and Belgium performances after the US sale proved ‘brutal.’

    Yan Hinolan, administrator of Bangtan UAE fan club, emphasized the necessity of sleep deprivation for ticket acquisition, stating ‘no sleep or no tickets.’ Her strategic preparation included advance coordination with her bank to ensure payment processing and resulted in securing Los Angeles tickets without facing dynamic pricing thanks to BigHit’s controls.

    While many fans missed out despite hours-long digital waits, hopes remain high for Middle Eastern dates scheduled for 2027. Speculation runs particularly strong in the UAE, where BTS’s 2016 KCON performance in Abu Dhabi marked one of their earliest international appearances. The Korean Deputy Consul General in Dubai previously indicated potential future performances in the UAE, fueling anticipation among local fans who are already planning special fan projects and preparing for another ticket battle when regional dates are announced.

  • Watch: Three things to know about Trump’s Board of Peace

    Watch: Three things to know about Trump’s Board of Peace

    In a comprehensive examination of former President Donald Trump’s proposed Board of Peace initiative, the BBC’s Washington Correspondent Daniel Bush provides critical analysis regarding participating nations and the allocation mechanisms for the charter’s financial resources. This initiative, emerging during a period of complex global diplomacy, represents a significant development in international peacebuilding efforts.

    The Board of Peace concept, championed by the Trump administration, seeks to establish a multilateral framework for conflict resolution through diplomatic and economic channels. Correspondent Bush’s investigation reveals strategic participation from key nations across different geopolitical blocs, indicating broad-based interest in this unconventional approach to international relations.

    Funding architecture for the initiative appears structured around voluntary contributions from member states, with allocations directed toward mediation resources, conflict prevention programs, and diplomatic mission support. The financial transparency mechanisms and oversight procedures remain central to understanding how effectively these resources would be utilized in practice.

    Bush’s analysis further explores how this initiative aligns with or diverges from traditional international peacekeeping frameworks, examining potential implications for global diplomatic norms and the changing landscape of international conflict resolution during the post-Trump presidency era.

  • Jury selection for Luigi Mangione trial set for September

    Jury selection for Luigi Mangione trial set for September

    Manhattan federal court has established critical timelines for the impending trial of Luigi Mangione, the individual charged with the fatal shooting of United Healthcare CEO Brian Thompson in December 2024. During Friday’s proceedings, Judge Margaret Garnett announced that jury selection will commence on September 8th, though the actual trial start date hinges on a monumental decision regarding capital punishment.

    The judicial process faces a bifurcated timeline based on whether federal prosecutors secure death penalty authorization. US Attorney General Pam Bondi’s pursuit of maximum punishment could push trial proceedings to January 2027 if approved. Should the court deny capital prosecution, opening statements will begin considerably sooner on October 13th.

    Friday’s 90-minute hearing centered on contentious evidence admissibility challenges from defense attorneys. Legal representatives for Mangione contend that critical evidence—including a firearm and notebook—was unlawfully obtained during warrantless searches of his backpack following arrest at a Pennsylvania McDonald’s location. Prosecutors maintain Altoona Police Department conducted constitutionally compliant procedures during the search operation.

    Mangione, 27, maintains not guilty pleas against both federal murder charges and separate New York state accusations including second-degree murder and weapons violations. Notably, terrorism charges initially filed against the defendant have been formally dismissed. The state-level proceedings await trial date scheduling while federal courts advance with evidence resolution and trial preparation.

  • Fury over five-year-old’s detention in US immigration crackdown

    Fury over five-year-old’s detention in US immigration crackdown

    A massive immigration enforcement operation in Minneapolis has ignited fierce political controversy following the detention of a five-year-old child, Liam Conejo Ramos. The incident has created a stark divide between the Trump administration and Democratic leaders, with Vice President JD Vance defending Immigration and Customs Enforcement (ICE) agents’ actions while local officials condemn what they describe as traumatic tactics.

    Vance confirmed Thursday that young Ramos was among those detained during widespread ICE operations targeting undocumented immigrants. The vice president asserted that federal agents acted appropriately, claiming the child’s father had abandoned him during an immigration sweep. “What are they supposed to do? Are they supposed to let a five-year-old child freeze to death?” Vance questioned during a press briefing.

    Democratic representatives have vehemently rejected this narrative. Texas Congressman Joaquin Castro branded Homeland Security authorities “sick liars,” noting that his office had been unable to locate the child reportedly held with his father in San Antonio, Texas. Former Vice President Kamala Harris expressed outrage, stating, “Liam Ramos is just a baby. He should be at home with his family, not used as bait by ICE.”

    The Department of Homeland Security issued a statement contradicting claims that agents targeted the child, explaining that ICE officers remained with Ramos for his safety after his father allegedly fled during an operation to arrest him. The department emphasized that parents are given options for removal with their children or placement with designated safe persons.

    This incident occurs within broader tensions surrounding ICE’s intensified enforcement activities. Minneapolis Mayor Jacob Frey described the influx of approximately 3,000 federal agents as feeling like an “occupation,” while local school administrators reported at least four children from the same school district being detained this month by masked, armed agents without clear identification.

    The legal status of Ramos and his father remains complex. Their attorney, Marc Prokosch, clarified that while not US citizens, both had followed proper legal procedures in applying for asylum within Minneapolis—a designated sanctuary city where local police typically do not cooperate with federal immigration sweeps. Vance criticized such sanctuary policies, arguing they “turn up the temperature” and hinder federal operations.

    Meanwhile, Minnesota state authorities have sought a temporary restraining order against ICE operations, with a federal court hearing scheduled for Monday that could potentially pause the controversial sweeps.

  • Health officials say no evidence of mystery brain illness in New Brunswick

    Health officials say no evidence of mystery brain illness in New Brunswick

    Canadian health authorities have concluded a comprehensive investigation into alleged cases of a mysterious neurological illness in New Brunswick, finding no evidence to support claims of a novel disease. The provincial study, released Friday by New Brunswick’s Chief Medical Officer of Health Dr. Yves Léger, examined 222 patients previously identified by neurologist Dr. Alier Marrero as potentially suffering from unexplained neurological symptoms.

    The investigation specifically addressed Dr. Marrero’s assertions that patients exhibited elevated levels of herbicides and heavy metals that could explain their symptoms. After comparative analysis with broader population data from Atlantic Canada, officials determined herbicide levels among the patient group were normal. While a limited number of patients showed higher-than-expected metal concentrations, researchers noted methodological issues with testing procedures and found no conclusive evidence linking these levels to neurological effects.

    The report highlighted several limitations in its review, including non-standardized testing protocols and insufficient retesting to establish pattern consistency. Notably, approximately 60% of the patients had been evaluated by additional neurologists, none of whom reported unusual neurological conditions to health authorities.

    This represents the second official study debunking the mystery illness theory, following a 2022 examination of the initial 48 cases. The conclusions align with separate research published in JAMA Neurology last year, which reviewed 25 cases and found patients suffered from identifiable conditions including cancer and dementia.

    Despite the findings, Dr. Léger acknowledged the legitimate suffering of patients, emphasizing that ‘the fact remains there are patients who are very ill and need support.’ The province will now require two specialist examinations for any patient presenting with unexplained neurological symptoms. All data will be shared with the Public Health Agency of Canada for further review.

    Patient advocate Sarah Nesbitt expressed concerns about the study’s limitations while remaining hopeful it might lead to better support for affected individuals. Meanwhile, Dr. Marrero, who previously told the BBC that other scientists had initially supported the novel syndrome theory, did not immediately respond to requests for comment on the latest findings.

  • Minnesota holds economic strike to protest ICE presence

    Minnesota holds economic strike to protest ICE presence

    Hundreds of Minnesota enterprises are suspending operations today in a coordinated economic protest against intensified immigration enforcement activities across the state. The widespread shutdown encompasses diverse businesses from restaurants and retail stores to service establishments, representing one of the most significant economic demonstrations against federal immigration policies.

    Organizers have urged residents to abstain from work, schooling, and commercial activities in a collective show of opposition to the US Immigration and Customs Enforcement (ICE) operations. Simultaneous rallies are scheduled in both St. Paul and Minneapolis, cities that have experienced particularly aggressive enforcement actions under the Trump administration’s “Operation Metro Surge.”

    The federal government characterizes these operations as public safety initiatives targeting undocumented individuals with criminal backgrounds. However, critics maintain that the enforcement has extended beyond its stated parameters, resulting in detentions of migrants without criminal records and even US citizens. According to Department of Homeland Security statements, approximately 10,000 individuals have been apprehended in Minnesota since President Trump’s return to office one year ago.

    The movement gained substantial momentum following the tragic death of 37-year-old Minneapolis resident Renee Good earlier this month, which ignited widespread condemnation and protests across the state. While many demonstrations have remained peaceful, some have escalated into violent confrontations between protesters and federal officers.

    Bishop Dwayne Royster of Faith in Action articulated the protesters’ demands: “We want ICE out of Minnesota, and we want ICE out of every state, with their extreme overreach. We want Congress to provide oversight to ICE.”

    The economic impact is already being felt across the region. Kim Bartmann, owner of six Minneapolis restaurants including Barbette and Gigi’s Café, reported a 30% decline in sales over the past three weeks, compelling her to reduce operating hours even before today’s coordinated closure. “We have employees with proper documentation who are terrified to leave their homes,” Bartmann noted, highlighting the pervasive climate of fear.

    The situation has created complex dilemmas for business owners who support the protest’s objectives but face significant financial consequences. Bartmann described the decision to participate as “tricky,” acknowledging that while “everyone is in solidarity, everyone needs to buy groceries and pay their rents.”

    Corey Lamb, proprietor of Harriet Grove Botanicals, emphasized the interconnected economic vulnerability: “When individuals are afraid of being detained or disappeared, it affects not only morally but economically what’s happening here and across the greater Midwest.”

    The tension has extended into educational institutions, with Columbia Heights school officials confirming the detention of four students aged five to seventeen by ICE this week. This development has further intensified calls for policy review.

    Vice President JD Vance addressed the situation on Thursday, urging Minnesota law enforcement to enhance coordination with federal officers and criticizing local “sanctuary” policies that limit cooperation with ICE. “The best way to facilitate reasonable enforcement of the law,” Vance stated, “would be for state and local officials to cooperate.”

    The protest represents a critical juncture in the ongoing national debate surrounding immigration enforcement methodologies and their socioeconomic ramifications.

  • Trump to sue New York Times over unfavourable opinion poll

    Trump to sue New York Times over unfavourable opinion poll

    Former President Donald Trump has escalated his ongoing conflict with mainstream media by announcing impending legal action against The New York Times. The controversy stems from a recently published opinion poll conducted jointly by the newspaper and Siena University, which reported a mere 40% approval rating for the 79-year-old Republican leader.

    Through his Truth Social platform, Trump declared the poll would be incorporated into an existing lawsuit against the publication, accusing the Times of disseminating ‘Radical Left lies and wrongdoing.’ He further intensified his rhetoric by suggesting that ‘fake and fraudulent polling should, virtually, be a criminal offence.’

    This development represents the latest chapter in Trump’s extensive history of legal confrontations with media organizations. Previous targets have included major networks such as CNN, CBS, ABC, and international broadcaster BBC, several of which resulted in multimillion-dollar settlements.

    The current legal battle originated in September 2025 when Trump filed a $15 billion defamation suit against The New York Times, alleging the publication intentionally ran false stories to damage his 2024 presidential campaign and personal reputation. Although initially dismissed by a federal judge, the lawsuit was refiled in amended form the following month.

    The Times/Siena poll, widely regarded as one of America’s most accurate political surveys, indicates significant erosion in Trump’s support base. Particularly concerning for the former president is the apparent dissolution of his 2024 coalition, with young and non-white voters who previously supported him abandoning his camp, leaving primarily older white voters as his core constituency.

    The newspaper defended its reporting practices, characterizing Trump’s legal actions as ‘an attempt to stifle independent reporting’ and ‘intimidation tactics.’ The poll findings align with multiple other surveys showing declining public approval of Trump’s handling of economic issues and his administration’s military-style crackdown on illegal immigration.

  • 2 men sentenced to one month in jail for truck diesel theft case in Dubai

    2 men sentenced to one month in jail for truck diesel theft case in Dubai

    Dubai’s judicial system has delivered a decisive verdict in a meticulously planned fuel theft case, sentencing two individuals to one-month imprisonment followed by deportation. The criminal operation unraveled when a truck driver discovered his vehicle missing from the company parking facility, with only faint tire marks indicating unauthorized removal.

    Law enforcement authorities initiated a comprehensive investigation utilizing surveillance footage from the area. CCTV evidence captured a suspect operating the missing truck with apparent confidence through urban thoroughfares before abandoning the vehicle in Jebel Ali’s industrial sector. The precision of the operation suggested careful premeditation.

    Following the circulation of the suspect’s description, Dubai Police apprehended the primary perpetrator. During interrogation, the first defendant confessed to utilizing a retained key to access the commercial vehicle, which he subsequently drove to an isolated location. There, he systematically siphoned the diesel fuel and sold it to a second party for 450 dirhams.

    The purchaser, while admitting to acquiring the fuel, maintained ignorance regarding its illicit origins. Judicial examination revealed the theft’s sophisticated nature—the perpetrator had identified the target vehicle, preserved operational access, and coordinated the transaction with strategic precision.

    Despite both defendants maintaining their initial statements in court, the prosecution presented compelling evidence including visual documentation, voluntary confessions, and recovered contraband. The court differentiated the charges: the first individual received conviction for nocturnal theft accompanied by a 1,650 dirham fine, while the second faced conviction for possessing criminally obtained property with a 450 dirham penalty. Both sentences included mandatory deportation following incarceration.