Saudi Prince Alwaleed bin Talal Opposed Musk's Purchase of Twitter, Now Invests $1.9 Billion With 'New Friend'
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Saudi Arabia's billionaire investor Alwaleed bin Talal said Elon Musk's offer to buy Twitter didn't even come close, but that was April and now it's May and Musk is an "excellent leader to Twitter." The Saudi royal, Qatar's sovereign wealth fund, and a Dubai firm all jumped to invest in Musk's latest venture.
CBS aired a previously unseen home video of Omar al-Bayoumi, identified as a Saudi Arabian intelligence operative, entertaining in San Diego two Saudi nationals who went on to hijack the American Airlines flight that crashed into the Pentagon on 9/11.
Yemen denounced a Houthi attack on a civilian neighborhood in Taiz as violating a ceasefire, British prosecutors say the Saudi military was bribed with $12 million for a contract with the United Kingdom, and Turkey's inflation rate hits 70%, endangering the rule of President Recep Tayyip Erdogan.
A U.S. Senate committee passes an antitrust bill, NOPEC, that would expose OPEC to lawsuits, and news from Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Turkey, Tunisia, and More.
Saudi royal Prince Alwaleed bin Talal at first opposed Elon Musk's offer to take over Twitter. Now he says “You will be an excellent leader." One of the richest men in the kingdom, Prince Alwaleed said he is looking forward to rolling over his $1.9 billion stake in Twitter, adding a note to Musk: "I believe you will be an excellent leader to Twitter to propel and maximise its great potential." In April, Alwaleed had said: "I don't believe the proposed offer...comes close to the intrinsic value of Twitter."
New York Post, Saudi billionaire changes tune, says Elon Musk 'excellent' for Twitter.
Business Insider, Elon Musk said he secured another $7bn backing for his Twitter deal -- including from a Saudi prince.
A Dubai firm invested $700 million and Qatar's sovereign wealth fund invested $375 million in Twitter. A filing by Elon Musk to the U.S. Securities and Exchange Commission showed the investments, following Musk's purchase of the social media platform The cryptocurrency platform Binance is investing $500 million.
Al-Monitor, Qatar's sovereign wealth fund, Dubai's Vy Capital help Elon Musk buy Twitter.
The Saudi-led coalition fighting in Yemen has started freeing prisoners for an exchange with the rebel Houthis. The coalition said it released prisoners and began transporting them to Yemen in coordination with the International Committee of the Red Cross. No numbers were made public, but earlier the coalition said it would release 163 prisoners.
Reuters, Saudi-led coalition says it began transferring freed prisoners to Yemen.
Newly-declassified FBI records revealed a video not seen before that shows an alleged Saudi Arabian intelligence operative at a party with two of the 9/11 attackers. CBS showed the video in which the two hijackers, Nawaf al-Hazmi and Khalid al-Mihdhar, were seen attending a gathering in a San Diego apartment hosted by Omar al-Bayoumi. Bayoumi has been identified in an FBI memo as working for Saudi intelligence and receiving payment from the then-ambassador to the U.S., Prince Bandar bin Sultan.
The video was dated to February, 2000, and showed what was described as a housewarming party organized by Bayoumi for the hijackers, part of the team that seized American Airlines Flight 77 that crashed into the Pentagon. Danny Gonzalez, a retired FBI agent, described Bayoumi as a "facilitator" who helped the hijackers get established in San Diego.
CBS News, Newly-released video shows 9/11 hijackers with alleged Saudi intelligence operative.
National Post, Home video shows 9/11 hijackers partying with alleged Saudi intelligence officer.
OPEC+ agreed to stick with its plan for a modest monthly oil production increase for June. The oil countries ignored calls from Western nations to put more oil on the world market as prices rise, but the group agreed only to add 432,000 barrels a day to its June target. Even that amount has not been met in recent months as a number of the OPEC+ countries fail to meet their quotas. The virtual meeting took less than 15 minutes, and sources said there was no discussion about sanctions on Russia. The meeting took place on the same day that the European Union proposed an embargo on Russian oil.
Reuters, OPEC+ sticks to modest oil output hike despite price rally.
A U.S. Senate committee passed the "NOPEC" bill that would expose OPEC to lawsuits for colluding on oil prices. The legislation, called the No Oil Producing or Exporting Cartels (NOPEC) bill, passed the Senate Judiciary Committee in a bipartisan 17-4 vote. Sponsors of the legislation include Sen. Chuck Grassley, Republican of Iowa, and Sen. Amy Klobuchar, Democrat of Minnesota.
Reuters, U.S. Senate committee passes antitrust bill pressuring OPEC.
A State Department spokesman said the United States is preparing both for an Iran nuclear agreement or no deal. "Because a mutual return to compliance with the JCPOA is very much an uncertain proposition, we are now preparing equally for either scenario," spokesman Ned Price said.
Reuters, U.S. says it is now preparing for a world both with and without an Iran nuclear deal.
Yemen's foreign minister denounced an attack by Houthi rebels on a Taiz neighborhood that left at least 10 wounded, caused panic among locals, and threatened the United Nations-brokered truce. Foreign Minister Ahmed bin Mubarak called the attacks a "flagrant violation of international and humanitarian law and the UN truce." He warned the Houthis not to squander the opportunity for peace and said they will be held accountable if the truce fails.
Asharq Al-Awsat, Houthi attacks in Taiz undermine Yemen truce.
Pakistan is asking Saudi Arabia not to withdraw deposits from its central bank and to extend an oil loan facility. Following a visit to Saudi Arabia by the new prime minister of Pakistan, Shehbaz Sharif, Finance Minister Miftah Ismail said Saudi Arabia is considering options on help for Pakistan, including rolling over dollar deposits that include one of $3 billion with the State Bank of Pakistan. Ismail said Pakistan's ousted former prime minister Imran Khan made false promises to the International Monetary Fund and "those promises are no less than landmines."
PTI, Pakistan requests Saudi Arabia not to withdraw deposits, asks to extend oil facility.
United Nations Secretary-General Antonio Gutteres called for "free, fair, transparent and inclusive" elections in Lebanon on May 15 and said Hezbollah's military capabilities are "a matter of grave concern." In a report to the UN Security Council, Guterres urged that Lebanon prioritize reforms to address the country's economic crisis, citing "public frustration with the political situation." He said a new Lebanese government should include "full participation of women and young people."
Associated Press, UN chief urges free, transparent elections in Lebanon May 15.
Israel's Supreme Court allowed the eviction of more than 1,000 Palestinians and paved the way for the demolition of eight small villages near Hebron on the West Bank. Israel had designated the area for military exercises, and the ruling followed two decades of inconclusive legal maneuvering. The court held that the Palestinian dwellers, who follow a generations-long nomadic way of life, were not permanent residents when the Israeli military first declared the area a firing zone in the 1980s.
Reuters, Israel's top court paves way for razing eight Palestinian hamlets.
Prosecutors in Britain said two executives involved with an Airbus subsidiary paid bribes of "deep corruption" to Saudi Arabian military officials to get contracts for the UK. The former managing director of a now-defunct Airbus unit and a former financial officer for a subcontractor paid 9.7 million pounds, or almost $12 million, in a bribery scheme between 2007 and 2012 to win lucrative UK government contracts to provide military communications to the Saudi Arabian National Guard, which protects the kingdom's royal family.
Financial Times, Former Airbus unit paid 9.7 mn pounds in bribes to Saudi military, court told.
Turkey's inflation jumped to near 70%, threatening the rule of President Recep Tayyip Erdogan. The inflation rate in April hit a two-decade high of 69.97%, pushed by Russia's invasion of Ukraine and rising prices. Households in Turkey are badly strained just a year before presidential and parliamentary elections.
Reuters, Turkey's inflation surges to 70%, putting Erdogan in bind.
Russian billionaires and entrepreneurs have been arriving in the United Arab Emirates in record numbers. Dubai has emerged as a haven for wealthy Russians fleeing the impact of Western sanctions brought on by Russia's invasion of Ukraine, and property purchases in Dubai by Russians surged by 67% in the first three months of 2022. The UAE has not criticized Russia's invasion and has not placed sanctions on Russia.
BBC, Wealthy Russians flee to Dubai to avoid sanctions.
Gulf central banks increased their main interest rates, following the U.S. Federal Reserve. The central banks of Saudi Arabia, the United Arab Emirates, Qatar, and Bahrain raised their key rates by 50 basis points, and the central bank of Kuwait increased its discount rate by 25 points to 2 percent, a move less hawkish than the Federal Reserve. All Gulf countries have their currencies pegged to the U.S. dollar, except Kuwait, which pegs its dinar to a currency basket that includes the dollar.
Korea Times, Gulf central banks raise interest rates.
Kuwait released five Iraqi fishermen who mistakenly entered its waters. Iraqi media reported that the fishermen, identified and investigated, were released after being detained for entering Kuwait's regional boundaries. Kuwait's coast guard arrested the men in late April in the Ras al-Qayd region where they were fishing, and the incident raised tensions with Iraq.
Asharq Al-Awsat, Kuwait releases 5 Iraqi fishermen who had mistakenly entered its waters.
Tunisian journalists protested against growing repression of the press under President Kais Saied. Tunisia's national journalist union organized a demonstration and accused the Saied government of trying to turn them into propaganda channels. Earlier, the journalists issued a report noting that Saied had not held a single open press conference since assuming power, reflecting a policy that "does not recognise citizens' rights to know what is happening in this country."
AFP, Tunisia journalists warn of growing 'repression.'
MORE: Tunisia opens investigation into leaked recordings criticising the president, The National... Algeria to raise oil output by 11,000 barrels a day, Xinhua... Ancient temple to Zeus uncovered in Sinai, Al-Monitor... 85 ancient tombs unearthed in Egypt, IANS... Abu Dhabi's AD Ports links deal with Red Sea Ports Authority for major projects along Egypt's coastline, Arabian Business... Pope appoints new Yemen bishop, The Tablet.
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The deadlock in forming a new Iraqi government is caused by competition within groups. There is serious rivalry between the Sadrist movement and pro-Iran Shia parties, between the Kurdistan Democratic Party and the Patriotic Union of Kurdistan, and a major split within the Sunni Sovereignty Bloc. The unwillingness of the groups to offer compromise promises continued political uncertainty for Iraq.
Arab Center, Washington, D.C., Iraq's government formation hindered by intra-group political competitions.
The antitrust bill against OPEC just approved by a U.S. Senate committee raises the question: How can a U.S. federal court enforce judicial antitrust decisions against a foreign nation? It's unclear, but the possibility has for two decades worried OPEC's de factor leader, Saudi Arabia, which lobbies hard each time a version of the bill comes up.
Reuters, Explainer: Why NOPEC, the US bill to crush the OPEC cartel, matters.